"Economic Analysis and the Psychology of Utility: Applications to Compensation Policy." J. Bradford DeLong, Andrei Shleifer, Lawrence H. Summers, and Robert J. Waldmann (1990), "Positive-Feedback Investment Strategies and Destabilizing Rational Speculation," Journal of Finance 45: 2 … Robert W. Vishny. Andrei Shleifer. Set up email alerts. We present a new measure of legal protection of minority shareholders against expropriation by corporate insiders: the anti-self-dealing index. Find books Try again later. Verified email at harvard.edu - Homepage. Cited by. 1991. This book describes an alternative approach to the study of financial markets: behavioral finance. 2 … The returns are not related to S & P's bond ratings, which is inconsistent with a plausible version of the hypothesis that inclusion is … Google Scholar. "Memory and Representativeness,"NBER Working Papers25692, National Bureau of Economic Research, Inc. DEFINITION of Andrei Shleifer Andrei Schleifer is a Harvard University professor and financial and behavioral economist. “Investor Sentiment and the Closed-End Fund Puzzle.” Journal of Finance 46 (1991): 75-109. The efficient markets hypothesis has been the central proposition in finance for nearly thirty years. Andrei Shleifer Harvard University. The theory implies that discounts on various funds … The system can't perform the operation now. Past winner of the John … Lee, Charles M.C., Andrei Shleifer, and Richard H. Thaler. Their, This "Cited by" count includes citations to the following articles in Scholar. (Hayne E. Leland and David H. Pyle 1977, Eugene F. Fama 1980). The Economic Consequences of Legal Origins Rafael La Porta, Florencio Lopez-de-Silanes, and Andrei Shleifer* In the last decade, economists have produced a considerable body of research Public link to this page. Andrei Shleifer ’82, the economist embroiled in a fraud scandal that cost Harvard $26.5 million to settle, will return to teaching here this fall. Cited by. Charles M. C. Lee, Andrei Shleifer, and Richard H. Thaler 155 2. Robert J. Waldmann. This book describes an alternative approach to the study of financial markets: behavioral finance. (If your company doesn’t offer a low-cost index fund in your 401(k), organize your coworkers and petition to have one added.) The following articles are merged in Scholar. The system can't perform the operation now. Please share how this access benefits you. Privatizing Russia, (with M. Boycko and R. W. Vishny) MIT Press, 1995.The Grabbing Hand, (with R. W. Vishny) Harvard University Press, 1998. The efficient markets hypothesis has been the central proposition in finance for nearly thirty years. 1990. It states that securities prices in financial markets must equal fundamental values, either because all investors are rational or because arbitrage eliminates pricing anomalies. Email link to this page. Abstract. "Investor Sentiment and the Closed‐end Fund Puzzle." Pedro Bordalo & Katherine Coffman & Nicola Gennaioli & Frederik Schwerter & Andrei Shleifer, 2019. Inefficient Markets by Harvard economist Andrei Shleifer provides a strong argument against the Efficient Market Hypothesis (EMH) in its various forms and an introduction to Behavioral Finance. The following articles are merged in Scholar. Harvard University. We conducted a survey of over 1,500 Americans from May 6 – 13, 2020, to understand these risk perceptions. (1999), Shleifer and Vishny (1997)" Legal Determinants of external finance,", Management entrenchment: the case of manager-specific investments, The grabbing hand: government pathologies and their cures, Investor sentiment and the closed-end fund puzzle, Do Demand Curves for Stocks Slope Down?, 41J, Does Competetion destroy Unethical Behavior?”[C]. Investor Sentiment and the Closed-End Fund Puzzle The Harvard community has made this article openly available. Download books for free. Journal of Finance 46: 75‐109. The Journal of Finance . Sort. Robert W. Vishny University of Chicago. Comparative research emphasized the role of banks (Franklin Allen and Douglas Gale 2000). Shleifer's main points are summarized below. It states that securities prices in financial markets must equal fundamental values, either because all investors are rational or because arbitrage eliminates pricing anomalies. Title. RL Porta, F Lopez-de-Silanes, A Shleifer, RW Vishny. Search for more articles by this author , and . Andrei Shleifer H-Index: 111. view all 4 authors... A central question for understanding behaviour during the Covid-19 pandemic, at both the individual and collective levels, is how people perceive the health and economic risks they face. in the market, all the time, without any pretense of being able to select the “best” and avoid the “worst”—will beat most funds over the long run. Search for other works by this author on: Oxford Academic. chopra navin, lee charlesmc, shleifer andrei, thaler richardh. 1. Closed-end funds usually trade at substantial discounts relative to their net asset values. Yes, Discounts on Closed‐End Funds Are a Sentiment Index . Shleifer was awarded the biennial John Bates Clark Medal in 1999 for his seminal works in three fields: corporate finance (corporate governance, law and finance), the economics of financial markets (deviations from efficient markets), and the economics of transition. Follow. 1818 H Street Washington, DC 20433 cmcliesh@worldbank.org Rita Ramalho The World Bank 1818 H Street Washington, DC 20433 rramalho@worldbank.org Andrei Shleifer Department of Economics Harvard University Littauer Center M-9 Cambridge, MA 02138 and NBER ashleifer@harvard.edu Over the period 1965–85 the (value-weighted) average discount on a portfolio of major closed-end stock funds in the U.S. was 10.1 percent (Lee, Shleifer, and Thaler, forthcoming). Year; Law and finance. Lee, Charles, Andrei Schleifer and Richard H. Thaler. Their combined citations are counted only for the first article. ‪Harvard University‬ - ‪Cited by 898‬ The following articles are merged in Scholar. Andrei Shleifer is a Russian-American economist and Professor of Economics at Harvard University, where he has taught since 1991. Noise Trader Risk in Financial Markets | J. Bradford De Long, Andrei Shleifer, Lawrence H. Summers and Robert J. Waldmann | download | BookSC. 4, No. The returns are positively related to measures of buying by index funds, consistent with the hypothesis that demand curves for stocks slope down. Shleifer, Andrei Submit Author Profile. Cites by year: 1551 Journals where Andrei Shleifer has often published Relations with other researchers Recent citing documents: 2956. Kevin M. Murphy, Andrei Shleifer, and Robert W. Vishny L'nzz~errztjof Chicago This paper explores Rosenstein-Rodan's idea that si~nultaneous in- dustrialization of many sectors of the economy can be profitable for them all even when no sector can break even industrializing alone. The EMH comes in three forms. Kahneman, Daniel and Richard H. Thaler. Articles Cited by. Search for more articles by this author , Lawrence H. Summers. CHARLES M. C. LEE, ANDREI SHLEIFER, and RICHARD H. THALER* ABSTRACT This paper examines the proposition that fluctuations in discounts of closed-end funds are driven by changes in individual investor sentiment. Citation De Long, J. Bradford, Andrei Shleifer, Lawrence H. Summers, and Robert J. Waldmann. Sort by citations Sort by year Sort by title. American Economic Association The Noise Trader Approach to Finance Author(s): Andrei Shleifer and Lawrence H. Summers Source: The Journal of Economic Perspectives, Vol. Semantic Scholar profile for Andrei Shleifer, with 5339 highly influential citations and 253 scientific research papers. Colonisation created ‘legal families’ of laws which were substantially influenced by the origin countries. Their, This "Cited by" count includes citations to the following articles in Scholar. The ones marked, Corporate ownership around the world. Total self citations: 237 (0.42 %) Total self citations: 237 (0.42 %) Rafael La Porta, Florencio Lopez de Silanes, Andrei Shleifer, Robert Vishny 27 July 2019. Recent research on corporate governance has documented large differences between countries in ownership concentration in publicly traded firms, in the breadth and depth of financial markets, and in the access of firms to external finance. Journal of Finance 54 (2), 471-517, Quarterly Journal of Economics 108 (3), 599-617, The Quarterly Journal of Economics 109 (4), 995-1025, Journal of Financial Economics 25 (1), 123-139, MC Lee Charles, S Andrei, H Thaler Richard, Journal of Political Economy 93 (6), 1045-1076, Blackwell Publishing Limited: 9600 Garsington Road, Oxford OX4 2DQ United …, The American Economic Review 83 (2), 409-414, European Financial Management 11 (4), 439-451, Journal of Financial Economics 68, 161-199, New articles related to this author's research, Lopez–de–Silanes, F., & Shleifer, A. Set up email alerts when new articles by this author are added to HeinOnline Set up email alerts to be notified when this author's Andrei Shleifer. Try again later. The ones marked, RL Porta, F Lopez-de-Silanes, A Shleifer, RW Vishny, Journal of political economy 106 (6), 1113-1155, R La Porta, F Lopez‐de‐Silanes, A Shleifer, R La Porta, F Lopez‐de‐Silanes, A Shleifer, RW Vishny, Journal of political economy 94 (3, Part 1), 461-488, Journal of financial economics 20, 293-315, R La Porta, F Lopez-de-Silanes, A Shleifer, R Vishny, Journal of financial economics 58 (1-2), 3-27, The Journal of Law, Economics, and Organization 15 (1), 222-279, The quarterly journal of economics 108 (3), 599-617, JB De Long, A Shleifer, LH Summers, RJ Waldmann, Journal of political Economy 98 (4), 703-738, EL Glaeser, HD Kallal, JA Scheinkman, A Shleifer, Journal of political economy 100 (6), 1126-1152, Journal of financial economics 49 (3), 307-343, R La Porta, F Lopez‐de‐Silanes, A Shleifer, R Vishny, New articles related to this author's research, Management ownership and market valuation: An empirical analysis, Investor protection and corporate governance, Contrarian investment, extrapolation, and risk, Investor protection and corporate valuation. 1991. 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