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ICF CORPORATE FINANCE RESEARCH INITIATIVE
The Yale ICF Corporate Finance Research Group investigates a wide range of topics. Among them:
- Corporate Governance: See our Corporate Governance web page.
- Corporate Control: Toeholds, takeover premia and threats, bankruptcy, the role of governments.
- Investment Banking: Capital structure, IPOs, dividend policy, securities regulation, investor choice.
- Global Issues: Currency crises, the Euro.
However, this list represents a view of corporate finance that is far too narrow. Interaction between researchers and research
areas at SOM are strong, and much related research touches on issues of relevance for corporations. For example, there is an active
research agenda at ICF on the equity premium, which is of prime importance in capital budgeting. (Roger Ibbotson, Will Goetzmann
and Ivo Welch are active researchers in this arena.) Our corporate governance faculty also includes researchers from outside traditional
finance such as Jeffrey Sonnenfeld (organizational behavior), who regularly interact with researchers in our corporate finance area.
Visiting faculty are also active contributors. For example, in 2003, Itzhak Venezia (Hebrew University) and Avri Ravid (Rutgers University)
both visited and contributed to a lively corporate finance environment.
Participating scholars at Yale include:
Participating scholars from other institutions include:
Selected Papers on Corporate Finance by ICF Participants:
Efficiency and the Bear: Short Sales and Markets Around the World
Arturo Bris, William Goetzmann, and Ning Zhu
The Euro is Good After All: Corporate Evidence
Arturo Bris, Yrjo Koskinen, and Mattias Nilsson
Adopting Better Corporate Governance: Evidence from Cross-Border Mergers
Arturo Bris and Christos Cabolis
Do Insider Trading Laws Work?
Arturo Bris
Corporate Law and Corporate Governance
Roberta Romano
Less is More: Making Institutional Investor Activism a Valuable Mechanism of Corporate Governance
Roberta Romano
Event Studies and the Law - Part II: Empirical Studies of Corporate Law
Sanjai Bhagat and Roberta Romano
A First Course in Finance
Ivo Welch
A Review of IPO Activity, Pricing and Allocations
Jay Ritter and Ivo Welch
Capital Structure and Stock Returns
Ivo Welch
The Effect of Sociall Activist Investment Policies on the Financial Markets: Evidence from the South African Boycott
Siew Hong Teoh, Ivo Welch, and C. Paul Wazzan
Earnings management and the Post-Issue Underperformance of Seasoned Equity Offerings.
Siew Hong Teoh, Ivo Welch, and T.J. Wong
A Theory of Dividends Based on Tax Clienteles
Franklin Allen, Antonio Bernardo, and Ivo Welch
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