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Publications

by members of

Drexel University → LeBow College of Business → Department of Finance

These are publications listed in RePEc written by members of the above institution who are registered with the RePEc Author Service. Thus this compiles the works all those currently affiliated with this institution, not those affilated at the time of publication. List of registered members. Register yourself. Citation analysis. Find also a compilation of publications from alumni here.

This page is updated in the first days of each month.

| Working papers | Journal articles | Chapters |

Working papers

2023

  1. Kwon, Sungjoung & Lowry, Michelle & Verardo, Michela, 2023, "Firms’ Transition to Green: Innovation versus Lobbying," CEPR Discussion Papers, Centre for Economic Policy Research, number 18327, Jul.
  2. Kristopher Gerardi & Michelle Lowry & Carola Schenone, 2023, "A Critical Review of the Common Ownership Literature," FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta, number 2023-17, Nov, DOI: 10.29338/wp2023-17.

2019

  1. Michelle Lowry & Roni Michaely & Ekaterina Volkova, 2019, "Information Revelation Through Regulatory Process: Interactions Between the SEC and Companies Ahead of the IPO," Swiss Finance Institute Research Paper Series, Swiss Finance Institute, number 19-47, Sep.

2017

  1. Weber, Martin & Dorn, Daniel, 2017, "Losing Trust in Money Doctors," CEPR Discussion Papers, Centre for Economic Policy Research, number 11859, Feb.

2010

  1. Dorn, Daniel, 2010, "Investors with too many options?," Working Paper Series, European Central Bank, number 1197, May.

2007

  1. Sengmüller, Paul & Huberman, Gur & Dorn, Daniel, 2007, "Correlated Trading and Returns," CEPR Discussion Papers, Centre for Economic Policy Research, number 6530, Oct.
  2. Huberman, Gur & Dorn, Daniel, 2007, "Preferred Risk Habitat of Individual Investors," CEPR Discussion Papers, Centre for Economic Policy Research, number 6532, Oct.

2006

  1. David A. Becher & George Deltas & George Pinteris, 2006, "Reconsidering the degree of inefficiency of financial institutions," Proceedings, Federal Reserve Bank of Chicago, number 1026.
  2. Michelle Lowry & Micah S. Officer & G. William Schwert, 2006, "The Variability of IPO Initial Returns," NBER Working Papers, National Bureau of Economic Research, Inc, number 12295, Jun.

2005

  1. Ming-Chya Wu & Ming-Chang Huang & Hai-Chin Yu & Thomas Chiang, 2005, "Phase Distribution and Phase Correlation of Financial Time Series," Finance, University Library of Munich, Germany, number 0512013, Dec.

2004

  1. David A. Becher & Terry L. Campbell, 2004, "Corporate governance of bank mergers," Proceedings, Federal Reserve Bank of Chicago, number 918.

2003

  1. David A. Becher & Terry L. Campbell & Melissa B. Frye, 2003, "Incentive compensation for bank directors: the impact of deregulation," Proceedings, Federal Reserve Bank of Chicago, number 871.

2001

  1. Michelle Lowry & G. William Schwert, 2001, "Biases in the IPO Pricing Process," NBER Working Papers, National Bureau of Economic Research, Inc, number 8586, Nov.

2000

  1. Michelle Lowry & G. William Schwert, 2000, "IPO Market Cycles: Bubbles or Sequential Learning?," NBER Working Papers, National Bureau of Economic Research, Inc, number 7935, Oct.

Journal articles

2025

  1. Joseph Kalmenovitz & Michelle Lowry & Ekaterina Volkova, 2025, "Regulatory Fragmentation," Journal of Finance, American Finance Association, volume 80, issue 2, pages 1081-1126, April, DOI: 10.1111/jofi.13423.

2024

  1. Michelle Lowry, 2024, "The questions being asked: Academic research, the media, and regulators," The Financial Review, Eastern Finance Association, volume 59, issue 3, pages 549-560, August, DOI: 10.1111/fire.12376.
  2. Feng Jiang & Michelle Lowry & Yiming Qian, 2024, "Local IPOs and household stock market participation," Review of Finance, European Finance Association, volume 28, issue 6, pages 1919-1952.

2023

  1. Yazhou Ellen & Bige Kahraman & Michelle Lowry, 2023, "ES Risks and Shareholder Voice," The Review of Financial Studies, Society for Financial Studies, volume 36, issue 12, pages 4824-4863.

2022

  1. David A Becher & Thomas P Griffin & Greg Nini, 2022, "Creditor Control of Corporate Acquisitions," The Review of Financial Studies, Society for Financial Studies, volume 35, issue 4, pages 1897-1932.
  2. Lowry, Michelle, 2022, "Discussion of ‘Importing Activists: Determinants and Consequences of Increased Cross-border shareholder activism’," Journal of Accounting and Economics, Elsevier, volume 74, issue 2, DOI: 10.1016/j.jacceco.2022.101540.
  3. Field, Laura Casares & Lowry, Michelle, 2022, "Bucking the trend: Why do IPOs choose controversial governance structures and why do investors let them?," Journal of Financial Economics, Elsevier, volume 146, issue 1, pages 27-54, DOI: 10.1016/j.jfineco.2022.06.004.
  4. Renée Adams & Michelle Lowry, 2022, "What’s Good for Women Is Good for Science: Evidence from the American Finance Association," The Review of Corporate Finance Studies, Society for Financial Studies, volume 11, issue 3, pages 554-604.

2021

  1. Lewellen, Katharina & Lowry, Michelle, 2021, "Does common ownership really increase firm coordination?," Journal of Financial Economics, Elsevier, volume 141, issue 1, pages 322-344, DOI: 10.1016/j.jfineco.2021.03.008.
  2. Peter Iliev & Jonathan Kalodimos & Michelle Lowry, 2021, "Investors’ Attention to Corporate Governance
    [The “Wall Street Walk” and shareholder activism: Exit as a form of voice]    ," The Review of Financial Studies, Society for Financial Studies, volume 34, issue 12, pages 5581-5628.

2020

  1. Becher, David & Jensen, Tyler K. & Liu, Tingting, 2020, "Acquisitions and funding conditions," Journal of Corporate Finance, Elsevier, volume 65, issue C, DOI: 10.1016/j.jcorpfin.2020.101760.
  2. Peter Iliev & Michelle Lowry, 2020, "Venturing beyond the IPO: Financing of Newly Public Firms by Venture Capitalists," Journal of Finance, American Finance Association, volume 75, issue 3, pages 1527-1577, June, DOI: 10.1111/jofi.12879.
  3. Kwon, Sungjoung & Lowry, Michelle & Qian, Yiming, 2020, "Mutual fund investments in private firms," Journal of Financial Economics, Elsevier, volume 136, issue 2, pages 407-443, DOI: 10.1016/j.jfineco.2019.10.003.
  4. Michelle Lowry & Roni Michaely & Ekaterina Volkova & Francesca Cornelli, 2020, "Information Revealed through the Regulatory Process: Interactions between the SEC and Companies ahead of Their IPO," The Review of Financial Studies, Society for Financial Studies, volume 33, issue 12, pages 5510-5554.

2019

  1. Yao-Min Chiang & Michelle Lowry & Yiming Qian, 2019, "The Information Advantage of Underwriters in IPOs," Management Science, INFORMS, volume 65, issue 12, pages 5721-5740, December, DOI: 10.1287/mnsc.2018.3126.
  2. Michelle Lowry & Marco Rossi & Zhongyan Zhu, 2019, "Informed Trading by Advisor Banks: Evidence from Options Holdings," The Review of Financial Studies, Society for Financial Studies, volume 32, issue 2, pages 605-645.

2018

  1. Lee, Lian Fen & Lowry, Michelle & Shu, Susan, 2018, "Are all perks solely perks? Evidence from corporate jets," Journal of Corporate Finance, Elsevier, volume 48, issue C, pages 460-473, DOI: 10.1016/j.jcorpfin.2017.11.014.

2017

  1. Bates, Thomas W. & Becher, David A., 2017, "Bid Resistance by Takeover Targets: Managerial Bargaining or Bad Faith?," Journal of Financial and Quantitative Analysis, Cambridge University Press, volume 52, issue 3, pages 837-866, June.
  2. Sema Bayraktar & Thomas C. Chiang, 2017, "Comovements of Stock Markets between Turkey and Global Countries," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, volume 67, issue 3, pages 250-275, June.

2015

  1. David A. Becher & Jonathan B. Cohn & Jennifer L. Juergens, 2015, "Do Stock Analysts Influence Merger Completion? An Examination of Postmerger Announcement Recommendations," Management Science, INFORMS, volume 61, issue 10, pages 2430-2448, October, DOI: 10.1287/mnsc.2014.2065.
  2. Anne Jones Dorn & Daniel Dorn & Paul Sengmueller, 2015, "Trading as Gambling," Management Science, INFORMS, volume 61, issue 10, pages 2376-2393, October, DOI: 10.1287/mnsc.2014.1979.
  3. Peter Iliev & Michelle Lowry, 2015, "Are Mutual Funds Active Voters?," The Review of Financial Studies, Society for Financial Studies, volume 28, issue 2, pages 446-485.

2013

  1. Field, Laura & Lowry, Michelle & Mkrtchyan, Anahit, 2013, "Are busy boards detrimental?," Journal of Financial Economics, Elsevier, volume 109, issue 1, pages 63-82, DOI: 10.1016/j.jfineco.2013.02.004.

2012

  1. Becher, David A. & Mulherin, J. Harold & Walkling, Ralph A., 2012, "Sources of Gains in Corporate Mergers: Refined Tests from a Neglected Industry," Journal of Financial and Quantitative Analysis, Cambridge University Press, volume 47, issue 1, pages 57-89, February.

2011

  1. Becher, David A. & Frye, Melissa B., 2011, "Does regulation substitute or complement governance?," Journal of Banking & Finance, Elsevier, volume 35, issue 3, pages 736-751, March.
  2. David Haushalter & Michelle Lowry, 2011, "When Do Banks Listen to Their Analysts? Evidence from Mergers and Acquisitions," The Review of Financial Studies, Society for Financial Studies, volume 24, issue 2, pages 321-357.

2010

  1. Chiang, Thomas C. & Zheng, Dazhi, 2010, "An empirical analysis of herd behavior in global stock markets," Journal of Banking & Finance, Elsevier, volume 34, issue 8, pages 1911-1921, August.
  2. Chiang, Thomas C. & Li, Jiandong & Tan, Lin, 2010, "Empirical investigation of herding behavior in Chinese stock markets: Evidence from quantile regression analysis," Global Finance Journal, Elsevier, volume 21, issue 1, pages 111-124.
  3. Hammoudeh, Shawkat & Yuan, Yuan & Chiang, Thomas & Nandha, Mohan, 2010, "Symmetric and asymmetric US sector return volatilities in presence of oil, financial and economic risks," Energy Policy, Elsevier, volume 38, issue 8, pages 3922-3932, August.
  4. Thomas C. Chiang & Zhuo Qiao & Wing-Keung Wong, 2010, "New evidence on the relation between return volatility and trading volume," Journal of Forecasting, John Wiley & Sons, Ltd., volume 29, issue 5, pages 502-515, DOI: 10.1002/for.1151.
  5. Dorn, Daniel & Huberman, Gur, 2010, "Preferred risk habitat of individual investors," Journal of Financial Economics, Elsevier, volume 97, issue 1, pages 155-173, July.
  6. Michelle Lowry & Micah S. Officer & G. William Schwert, 2010, "The Variability of IPO Initial Returns," Journal of Finance, American Finance Association, volume 65, issue 2, pages 425-465, April, DOI: 10.1111/j.1540-6261.2009.01540.x.

2009

  1. Becher, David A., 2009, "Bidder returns and merger anticipation: Evidence from banking deregulation," Journal of Corporate Finance, Elsevier, volume 15, issue 1, pages 85-98, February.
  2. Dorn, Daniel, 2009, "Does Sentiment Drive the Retail Demand for IPOs?," Journal of Financial and Quantitative Analysis, Cambridge University Press, volume 44, issue 1, pages 85-108, February.
  3. Daniel Dorn & Paul Sengmueller, 2009, "Trading as Entertainment?," Management Science, INFORMS, volume 55, issue 4, pages 591-603, April, DOI: 10.1287/mnsc.1080.0962.
  4. Field, Laura Casares & Lowry, Michelle, 2009, "Institutional versus Individual Investment in IPOs: The Importance of Firm Fundamentals," Journal of Financial and Quantitative Analysis, Cambridge University Press, volume 44, issue 3, pages 489-516, June.
  5. Lowry, Michelle, 2009, "Discussion of [`]shareholder litigation and changes in disclosure behavior'," Journal of Accounting and Economics, Elsevier, volume 47, issue 1-2, pages 157-159, March.

2008

  1. Bates, Thomas W. & Becher, David A. & Lemmon, Michael L., 2008, "Board classification and managerial entrenchment: Evidence from the market for corporate control," Journal of Financial Economics, Elsevier, volume 87, issue 3, pages 656-677, March.
  2. David A. Becher & Gerald R. Jensen & Jeffrey M. Mercer, 2008, "Monetary Policy Indicators As Predictors Of Stock Returns," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, volume 31, issue 4, pages 357-379, December, DOI: 10.1111/j.1475-6803.2008.00243.x.
  3. Qiao, Zhuo & Chiang, Thomas C. & Wong, Wing-Keung, 2008, "Long-run equilibrium, short-term adjustment, and spillover effects across Chinese segmented stock markets and the Hong Kong stock market," Journal of International Financial Markets, Institutions and Money, Elsevier, volume 18, issue 5, pages 425-437, December.
  4. Chiang, Thomas C. & Nelling, Edward & Tan, Lin, 2008, "The speed of adjustment to information: Evidence from the Chinese stock market," International Review of Economics & Finance, Elsevier, volume 17, issue 2, pages 216-229.
  5. Li, Huimin & Jeon, Bang Nam & Cho, Seong-Yeon & Chiang, Thomas C., 2008, "The impact of sovereign rating changes and financial contagion on stock market returns: Evidence from five Asian countries," Global Finance Journal, Elsevier, volume 19, issue 1, pages 46-55.
  6. Tan, Lin & Chiang, Thomas C. & Mason, Joseph R. & Nelling, Edward, 2008, "Herding behavior in Chinese stock markets: An examination of A and B shares," Pacific-Basin Finance Journal, Elsevier, volume 16, issue 1-2, pages 61-77, January.
  7. Daniel Dorn & Gur Huberman & Paul Sengmueller, 2008, "Correlated Trading and Returns," Journal of Finance, American Finance Association, volume 63, issue 2, pages 885-920, April, DOI: 10.1111/j.1540-6261.2008.01334.x.

2007

  1. Chiang, Thomas C. & Jeon, Bang Nam & Li, Huimin, 2007, "Dynamic correlation analysis of financial contagion: Evidence from Asian markets," Journal of International Money and Finance, Elsevier, volume 26, issue 7, pages 1206-1228, November.
  2. Thomas Chiang & Lin Tan & Huimin Li, 2007, "Empirical analysis of dynamic correlations of stock returns: evidence from Chinese A-share and B-share markets," Quantitative Finance, Taylor & Francis Journals, volume 7, issue 6, pages 651-667, DOI: 10.1080/14697680601173147.
  3. Lowry, Michelle & Murphy, Kevin J., 2007, "Executive stock options and IPO underpricing," Journal of Financial Economics, Elsevier, volume 85, issue 1, pages 39-65, July.

2006

  1. Chiang, Thomas C. & Kim, Doseong & Lee, Euiseong, 2006, "Country-fund discounts and risk: Evidence from stock market volatility and macroeconomic volatility," Journal of Economics and Business, Elsevier, volume 58, issue 4, pages 303-322.

2005

  1. David A. Becher & Terry L. Campbell II & Melissa B. Frye, 2005, "Incentive Compensation for Bank Directors: The Impact of Deregulation," The Journal of Business, University of Chicago Press, volume 78, issue 5, pages 1753-1778, September, DOI: 10.1086/431441.
  2. Morris Knapp & Alan Gart & David Becher, 2005, "Post‐Merger Performance of Bank Holding Companies, 1987–1998," The Financial Review, Eastern Finance Association, volume 40, issue 4, pages 549-574, November, DOI: 10.1111/j.1540-6288.2005.00124.x.
  3. David A. Becher & Terry L. Campbell, 2005, "Interstate Banking Deregulation And The Changing Nature Of Bank Mergers," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, volume 28, issue 1, pages 1-20, March, DOI: 10.1111/j.1475-6803.2005.00111.x.
  4. Thomas Chiang & Sheng-Yung Yang, 2005, "International Asset Excess Returns and Multivariate Conditional Volatilities," Review of Quantitative Finance and Accounting, Springer, volume 24, issue 3, pages 295-312, May, DOI: 10.1007/s11156-005-6868-2.
  5. Daniel Dorn & Gur Huberman, 2005, "Talk and Action: What Individual Investors Say and What They Do," Review of Finance, Springer, volume 9, issue 4, pages 437-481, December, DOI: 10.1007/s10679-005-4997-z.
  6. Field, Laura & Lowry, Michelle & Shu, Susan, 2005, "Does disclosure deter or trigger litigation?," Journal of Accounting and Economics, Elsevier, volume 39, issue 3, pages 487-507, September.

2004

  1. Anderson, Christopher W. & Becher, David A. & Campbell, Terry II, 2004, "Bank mergers, the market for bank CEOs, and managerial incentives," Journal of Financial Intermediation, Elsevier, volume 13, issue 1, pages 6-27, January.
  2. Lowry, Michelle & Schwert, G. William, 2004, "Is the IPO pricing process efficient?," Journal of Financial Economics, Elsevier, volume 71, issue 1, pages 3-26, January.

2003

  1. Chen, Cathy W. S. & Chiang, Thomas C. & So, Mike K. P., 2003, "Asymmetrical reaction to US stock-return news: evidence from major stock markets based on a double-threshold model," Journal of Economics and Business, Elsevier, volume 55, issue 5-6, pages 487-502.
  2. Lowry, Michelle, 2003, "Why does IPO volume fluctuate so much?," Journal of Financial Economics, Elsevier, volume 67, issue 1, pages 3-40, January.

2002

  1. Michelle Lowry & G. William Schwert, 2002, "IPO Market Cycles: Bubbles or Sequential Learning?," Journal of Finance, American Finance Association, volume 57, issue 3, pages 1171-1200, June, DOI: 10.1111/1540-6261.00458.
  2. Lowry, Michelle & Shu, Susan, 2002, "Litigation risk and IPO underpricing," Journal of Financial Economics, Elsevier, volume 65, issue 3, pages 309-335, September.

2001

  1. Chiang, Thomas C & Doong, Shuh-Chyi, 2001, "Empirical Analysis of Stock Returns and Volatility: Evidence from Seven Asian Stock Markets Based on TAR-GARCH Model," Review of Quantitative Finance and Accounting, Springer, volume 17, issue 3, pages 301-318, November.

2000

  1. Becher, David A., 2000, "The valuation effects of bank mergers," Journal of Corporate Finance, Elsevier, volume 6, issue 2, pages 189-214, July.
  2. Christine Jiang & Thomas Chiang, 2000, "Do foreign exchange risk premiums relate to the volatility in the foreign exchange and equity markets?," Applied Financial Economics, Taylor & Francis Journals, volume 10, issue 1, pages 95-104, DOI: 10.1080/096031000331969.
  3. Chiang, Thomas C. & Kim, Doseong, 2000, "Short-term eurocurrency rate behavior and specifications of cointegrating processes," International Review of Economics & Finance, Elsevier, volume 9, issue 2, pages 157-179.

1999

  1. Chiang, Thomas C & Chiang, Jeanette Jin, 1999, "On the Nonlinear Specifications of Short-Term Interest Rate Behavior: Evidence from Euro-Currency Markets," Review of Quantitative Finance and Accounting, Springer, volume 12, issue 4, pages 351-370, June.
  2. Shen, Chung-Hua & Chiang, Thomas Chi-Nan, 1999, "Retrieving the vanishing liquidity effect--a threshold vector autoregressive model," Journal of Economics and Business, Elsevier, volume 51, issue 3, pages 259-277, May.
  3. Chiang, Thomas C. & Doong, Shuh-Chyi, 1999, "Empirical analysis of real and financial volatilities on stock excess returns: evidence from Taiwan industrial data," Global Finance Journal, Elsevier, volume 10, issue 2, pages 187-200.

1997

  1. Chiang, Thomas C., 1997, "Time series dynamics of short-term interest rates: evidence from Eurocurrency markets," Journal of International Financial Markets, Institutions and Money, Elsevier, volume 7, issue 3, pages 201-220, October.
  2. Thomas Chiang & Jose Trinidad, 1997, "Risk and International Parity Conditions: A Synthesis from Consumption Based Models," International Economic Journal, Taylor & Francis Journals, volume 11, issue 2, pages 73-101, DOI: 10.1080/10168739700000012.

1996

  1. Chiang, Thomas C & Chiang, Jeannette Jin, 1996, "Dynamic Analysis of Stock Return Volatility in an Integrated International Capital Market," Review of Quantitative Finance and Accounting, Springer, volume 6, issue 1, pages 5-17, January.

1995

  1. Chiang, Thomas C. & Chiang, Jeanette Jin, 1995, "Emperical analysis of short-term eurocurrency rates: Evidence from a transfer function error correction model," Journal of Economics and Business, Elsevier, volume 47, issue 4, pages 335-351, October.
  2. Chiang, Thomas C. & Jiang, Christine X., 1995, "Foreign exchange returns over short and long horizons," International Review of Economics & Finance, Elsevier, volume 4, issue 3, pages 267-282.

1991

  1. Jeon, Bang Nam & Chiang, Thomas C., 1991, "A system of stock prices in world stock exchanges: Common stochastic trends for 1975-1990," Journal of Economics and Business, Elsevier, volume 43, issue 4, pages 329-338, November.
  2. Chiang, Thomas C., 1991, "International asset pricing and equity market risk," Journal of International Money and Finance, Elsevier, volume 10, issue 3, pages 349-364, September.

1988

  1. Chiang, Thomas C, 1988, "The Forward Rate as a Predictor of the Future Spot Rate--A Stochastic Coefficient Approach," Journal of Money, Credit and Banking, Blackwell Publishing, volume 20, issue 2, pages 212-232, May.
  2. Thomas Chiang & Thomas Hindelang, 1988, "Forward rate, spot rate and risk premium: An empirical analysis," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), volume 124, issue 1, pages 74-88, March, DOI: 10.1007/BF02708620.

1986

  1. Chiang, Thomas C, 1986, "On the Predictors of the Future Spot Rates--A Multi-currency Analysis," The Financial Review, Eastern Finance Association, volume 21, issue 1, pages 69-83, February.

Chapters

2024

  1. Michelle Lowry, 2024, "The blurring lines between private and public ownership," Chapters, Edward Elgar Publishing, chapter 13, in: David J. Denis, "Handbook of Corporate Finance".

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