Publications

Publications

2018
Armstrong, W.J., Genc, E. & Verbeek, M.J.C.M. Going for Gold: An Analysis of Morningstar Analyst Ratings. Management Science, Accepted. doi: http://dx.doi.org/10.1287/mnsc.2017.2884
Bongaerts, D.G.J., Driessen, J.J.A.G. & De Jong, F.C.J.M. An asset pricing approach to liquidity effects in corporate bond markets. The Review of Financial Studies, 30 (4), 1229-1269. doi: 10.1093/rfs/hhx005
Del Guercio, D., Genc, E. & Tran, H. Playing favorites: Conflicts of interest in mutual fund management. Journal of Financial Economics, 128 (3), 535-557. doi: 10.1016/j.jfineco.2017.04.012
Fidrmuc, J., Roosenboom, P.G.J. & Zhang, Q. Antitrust merger review costs and acquirer lobbying. Journal of Corporate Finance, 51 (August), 72-97. doi: 10.1016/j.jcorpfin.2018.05.001
Hanselaar, R.M., Stulz, R.M. & Dijk, M.A. van Do Firms Issue More Equity When Markets Become More Liquid? Journal of Financial Economics, Accepted. doi: http://dx.doi.org.10.2139/ssrn.2291647
Huij, J.J. & de Groot, W.A. Are the Fama-French Factors really Compensation for Distress Risk? Journal of International Money and Finance, 86 (september), 50-69. doi: 10.1016/j.jimonfin.2018.03.002
Koning, M., Mertens, G.M.H. & Roosenboom, P.G.J. Drivers of institutional change around the world: The case of IFRS. Journal of International Business Studies, 49 (3), 249-271. doi: 10.1057/s41267-017-0123-7
Lambert, T. Lobbying on Regulatory Enforcement Actions: Evidence from U.S. Commercial and Savings Banks. Management Science, Accepted. doi: http://dx.doi.org/10.1287/mnsc.2017.2895
Mulder, A. & Tims, B. Conditioning carry trades: Less risk, more return. Journal of International Money and Finance, 85, 1-19. doi: https://doi.org/10.1016/j.jimonfin.2018.03.003
Skjeltorp, J., Sojli, E. & Tham, W.W. Identifying Cross-Sided Liquidity Externalities. Management Science, Accepted.
2017
Choi, H., Mueller, P. & Vedolin, A. Bond variance risk premiums. Review of Finance, 21 (3), 987-1022. doi: http://dx.doi.org/10.1093/rof/rfw072
Karabulut, Y., Haliassos, M. & Jansson, T. Incompatible European Partners? Cultural Predispositions and Household Financial Behavior. Management Science, 63 (11), 3780-3808. doi: http://dx.doi.org/10.1287/mnsc.2016.2538
Rajamani, A., van der Poel, M., Jong, A. de & Ongena, S. The international diversification of banks and the value of their cross-border M&A advice. Management Science, 63 (7), 2211-2232. doi: http://dx.doi.org/10.1287/mnsc.2015.2396
Rosch, D.M., Subrahmanyam, A. & Dijk, M.A. van The dynamics of market efficiency. The Review of Financial Studies, 30 (4), 1151-1187. doi: http://dx.doi.org/10.1093/rfs/hhw085
Schlingemann, F.P., Ellis, J., Moeller, S.B. & Stulz, R. Portable country governance and cross-border acquisitions. Journal of International Business Studies, 48 (2), 148-173. doi: http://dx.doi.org/10.1057/s41267-016-0029-9
2016
Cosemans, M.M.J.E., Frehen, R.G.P., Schotman, P.C. & Bauer, R.M.M.J. Estimating Security Betas Using Prior Information Based on Firm Fundamentals. The Review of Financial Studies, 29 (4), 1072-1112. doi: http://dx.doi.org/10.1093/rfs/hhv131
Dutordoir, M.D.R.P., Li, E., Liu, F. & Verwijmeren, P. Convertible bond announcement effects: Why is Japan different? Journal of Corporate Finance, 37, 76-92. doi: http://dx.doi.org/10.1016/j.jcorpfin.2015.12.006
Guo, H. & Qiu, B. A Better Measure of Institutional Informed Trading. Contemporary Accounting Research, 33 (2), 815-850. doi: http://dx.doi.org/10.1111/1911-3846.12160
Kysucky, V. & Norden, L. The Benefits of Relationship Lending in a Cross-Country Context: A Meta-Analysis. Management Science, 62 (1), 90-110. doi: http://dx.doi.org/10.1287/mnsc.2014.2088
Larrain, B. & Urzua Infante, F. Do Business Groups Change with Market Development? Journal of Economics and Management Strategy, 25 (3), 750-784. doi: http://dx.doi.org/10.1111/jems.12165
Norden, L., Roosenboom, P.G.J. & Wang, T. The effects of corporate bond granularity. Journal of Banking and Finance, 63 (-), 25-34. doi: http://dx.doi.org/10.1016/j.jbankfin.2015.11.001
Sojli, E., Tham, W.W. & Skjeltorp, J. Flashes of trading intent at the NASDAQ. Journal of Financial and Quantitative Analysis, 51 (1), 165-196. doi: http://dx.doi.org/10.1017/S0022109016000028
2015
Jong, A. de & Naumovska, I. A note on event studies in finance and management research. Review of Finance, 20 (4), 1659-1672. doi: http://dx.doi.org/10.1093/rof/rfv037
Jong, A. de, Higgins, D. & Driel, H. van Towards a New Business History? Business History, 57 (1), 5-29. doi: http://dx.doi.org/10.1080/00076791.2014.977869
Mulder, A. & Westerhuis, G.W. The determinants of bank internationalisation in times of financial globalisation: Evidence from the world’s largest banks (1980-2007). Business History, 57 (1), 121-154. doi: http://dx.doi.org/10.1080/00076791.2014.977874
Schlingemann, F.P. & Wu, H. Determinants and shareholder wealth effects of the sales method in acquisitions. Journal of Banking and Finance, 59 (-), 469-485. doi: http://dx.doi.org/10.1016/j.jbankfin.2015.06.017
2014
Bargeron, L.L., Lehn, K., Moeller, S.B. & Schlingemann, F.P. Disagreement and the informativeness of stock returns: The case of acquisition announcements. Journal of Corporate Finance, 25, 155-172. doi: http://dx.doi.org/10.1016/j.jcorpfin.2013.11.014
Belleflamme, P., Lambert, T. & Schwienbacher, A. Crowdfunding: Tapping the Right Crowd. Journal of Business Venturing, 29 (5), 585-609. doi: http://dx.doi.org/10.1016/j.jbusvent.2013.07.003
Buchuk, D., Larrain, B., Munoz, F. & Urzua Infante, F. The internal capital markets of business groups: Evidence from intra-group loans. Journal of Financial Economics, 112 (2), 190-212. doi: http://dx.doi.org/10.1016/j.jfineco.2014.01.003
Jong, A. de, Ang, J. & Van der Poel, Marieke Does familiarity with business segments affect CEOs’ divestment decisions? Journal of Corporate Finance, 29, 58-74. doi: http://dx.doi.org/http://dx.doi.org/10.1016/j.jcorpfin.2014.07.004
Jong, A. de, Mertens, G.M.H., Van der Poel, Marieke & Dijk, R. van How does earnings management influence investors' perceptions of firm value? Survey evidence from financial analysts. Review of Accounting Studies, 19 (2), 606-627. doi: http://dx.doi.org/10.1007/s11142-013-9250-y
De Jong, A., Hooghiemstra, R.B.H. & Rinsum, M. van To accept or reject an offer to join the board: Dutch evidence. Long Range Planning, 47 (5), 262-276. doi: http://dx.doi.org/10.1016/j.lrp.2012.06.001
Guo, H. & Qiu, B. Options-Implied Variance and Future Stock Returns. Journal of Banking and Finance, 44, 93-113. doi: http://dx.doi.org/10.1016/j.jbankfin.2014.04.002
Illueca, M., Norden, L. & Udell, G. Liberalization and Risk Taking: Evidence from Government-controlled Banks. Review of Finance, 18 (4), 1217-1257. doi: http://dx.doi.org/http://dx.doi.org/10.1093/rof/rft023
Jiang, H. & Sun, Z. Dispersion in beliefs among active mutual funds and the cross-section of stock returns. Journal of Financial Economics, 114 (2), 341-365. doi: http://dx.doi.org/10.1016/j.jfineco.2014.06.003
Jiang, H., Verbeek, M.J.C.M. & Wang, Y. Information Content when Mutual Funds Deviate from Benchmarks. Management Science, 60 (8), 2038-2053. doi: http://dx.doi.org/10.1287/mnsc.2013.1847
Norden, L., Roosenboom, P.G.J. & Wang, T. The impact of government intervention in banks on corporate borrowers' stock returns. Journal of Financial and Quantitative Analysis, 48 (5), 1635-1662. doi: http://dx.doi.org/10.1017/S0022109013000537
Qiu, B., Trapkov, S. & Yakoub, F. Do Target CEOs Trade Premiums for Personal Benefits? Journal of Banking and Finance, 42, 23-41. doi: http://dx.doi.org/10.1016/j.jbankfin.2014.01.013
Roosenboom, P.G.J., Schlingemann, F.P. & Teixeira de Vasconcelos, M. Does stock liquidity affect the incentives to monitor? Evidence from corporate takeovers. The Review of Financial Studies, 27 (8), 2392-2433. doi: http://dx.doi.org/10.1093/rfs/hht076
Sahm, M., Belleflamme, P., Lambert, T. & Schwienbacher, A. Corrigendum to Crowdfunding: Tapping the Right Crowd. Journal of Business Venturing, 29 (5), 610-611. doi: http://dx.doi.org/doi:10.1016/j.jbusvent.2014.06.001
Schoenmaker, D. & Siegmann, A. Can European Bank Bailouts Work? Journal of Banking and Finance, 2014 (48), 334-349. doi: http://dx.doi.org/10.1016/j.jbankfin.2013.03.025
Szymanowska, M., Roon, F.A. de, Nijman, T. & van den Goorbergh, R. An Anatomy of Commodity Futures Risk Premia. The Journal of Finance, 69 (1), 453-482. doi: http://dx.doi.org/10.1111/jofi.12096
2013
Behr, P., Norden, L. & Noth, F. Financial Constraints of Private Firms and Bank Lending Behavior. Journal of Banking and Finance, 37 (9), 3472-3485. doi: http://dx.doi.org/10.1016/j.jbankfin.2013.05.018
Blitz, D., Huij, J.J., Lansdorp, S.D. & Verbeek, M.J.C.M. Short-Term Residual Reversal. Journal of Financial Markets, 16 (3), 477-504. doi: http://dx.doi.org/10.1016/j.finmar.2012.10.005
Pieterse-Bloem, M. & Mahieu, R.J. Factor decomposition and diversification in European corporate bond markets. Journal of International Money and Finance, 32 (February), 194-213. doi: http://dx.doi.org/10.1016/j.jimonfin.2012.04.005
Castiglionesi, F. & Wagner, W.B. On the efficiency of bilateral interbank insurance. Journal of Financial Intermediation, 22 (2), 177-200. doi: http://dx.doi.org/10.1016/j.jfi.2012.07.002
Jong, A. de, Duca, E. & Dutordoir, M.D.R.P. Do convertible bond issuers cater to investor demand? Financial Management - FM, 42 (1), 41-78. doi: http://dx.doi.org/10.1111/j.1755-053X.2012.01222.x
Dierkes, M., Erner, C., Norden, L. & Langer, Th. Business credit information sharing and default risk of private firms. Journal of Banking and Finance, 37 (8), 2867-2878. doi: http://dx.doi.org/10.1016/j.jbankfin.2013.03.018
Donelli, M., Larrain, B. & Urzua Infante, F. Ownership Dynamics with Large Shareholders: An Empirical Analysis. Journal of Financial and Quantitative Analysis, 48 (2), 579-609. doi: http://dx.doi.org/10.1017/S0022109013000173
Dyakov, T. & Verbeek, M.J.C.M. Front-Running of Mutual Fund Fire-Sales. Journal of Banking and Finance, 37 (12), 4931-4942. doi: http://dx.doi.org/10.1016/j.jbankfin.2013.08.013
Fidrmuc, J., Palandri, A., Roosenboom, P.G.J. & Dijk, D.J.C. van When do managers seek private equity backing in public-to-private transactions? Review of Finance, 17 (3), 1099-1139. doi: http://dx.doi.org/10.1093/rof/rfs021
Karstanje, D., Sojli, E., Tham, W.W. & Wel, M. van der Economic Valuation of Liquidity Timing. Journal of Banking and Finance, 37 (12), 5073-5087. doi: http://dx.doi.org/10.1016/j.jbankfin.2013.09.010
Larrain, B. & Urzua Infante, F. Controlling shareholders and market timing in share issuance. Journal of Financial Economics, 109 (3), 661-681. doi: http://dx.doi.org/10.1016/j.jfineco.2013.03.013
Norden, L. & van Kampen, S. Corporate leverage and the collateral channel. Journal of Banking and Finance, 37 (12), 5062-5072. doi: http://dx.doi.org/10.1016/j.jbankfin.2013.09.001
Popov, A. & Roosenboom, P.G.J. Venture capital and new business creation. Journal of Banking and Finance, 37 (12), 4695-4710. doi: http://dx.doi.org/10.1016/j.jbankfin.2013.08.010
Slijkerman, J.F., Vries, C.G. de & Schoenmaker, D. Systemic Risk and Diversification across European Banks and Insurers. Journal of Banking and Finance, 37 (3), 773-785. doi: http://dx.doi.org/10.1016/j.jbankfin.2012.10.027
Verbeek, M.J.C.M. & Wang, Y. Better than the Original? The Relative Success of Copycat Funds. Journal of Banking and Finance, 37 (9), 3454-3471. doi: http://dx.doi.org/10.1016/j.jbankfin.2013.04.024
Vries, C.G. de, Slijkerman, J.F. & Schoenmaker, D. Systemic Risk & Diversification across European Banks and Insurers. Journal of Banking and Finance, 37 (3), 773-785. doi: http://dx.doi.org/10.1016/j.jbankfin.2012.10.027
Wagner, W.B. Performance evaluation and financial market runs. Review of Finance, 17 (2), 597-624. doi: http://search.ebscohost.com/login.aspx?direct=true&db=buh&AN=85655673&site=bsi-live
2012
Bongaerts, D.G.J., Cremers, K.J.M. & Goetzmann, W.N. Tiebreaker: Certification and Multiple Credit Ratings. The Journal of Finance, 67 (1), 113-152. doi: http://dx.doi.org/10.1111/j.1540-6261.2011.01709.x
Castiglionesi, F. & Wagner, W.B. Turning Bagehot on his head. Journal of Money, Credit, and Banking, 44 (1), 201-219. doi: http://dx.doi.org/10.1111/j.1538-4616.2011.00473.x
De Jong, A., Huijgen, C., Marra, T.A. & Roosenboom, P.G.J. Why do firms go public? The role of the product market. Journal of Business Finance and Accounting, 39 (1-2), 165-192. doi: http://dx.doi.org/10.1111/j.1468-5957.2011.02271.x
Duca, E., Dutordoir, M.D.R.P., Veld, C. & Verwijmeren, P. Why are convertible bond announcements associated with increasingly negative abnormal stock returns? An arbitrage-based explanation. Journal of Banking and Finance, 36 (11), 2884-2899. doi: http://dx.doi.org/10.1016/j.jbankfin.2012.03.019
Fidrmuc, J., Paap, R., Roosenboom, P.G.J. & Teunissen, T. One size does not fit all: Selling firms to private equity versus strategic acquirers. Journal of Corporate Finance, 18 (4), 828-848. doi: http://dx.doi.org/10.1016/j.jcorpfin.2012.06.006
Grunert, J. & Norden, L. Bargaining power and information in SME lending. Small Business Economics, 39 (2), 401-417. doi: http://dx.doi.org/10.1007/s11187-010-9311-6
Hou, K. & Dijk, M.A. van The Implied Cost of Capital: A New Approach. Journal of Accounting and Economics, 53 (3), 504-526. doi: http://dx.doi.org/10.1016/j.jacceco.2011.12.001
Huij, J.J. & de Groot, W.A. Another Look at Trading Costs and Short-Term Reversal Profits. Journal of Banking and Finance, 36 (2), 371-382. doi: http://dx.doi.org/10.1016/j.jbankfin.2011.07.015
Karolyi, G.A., Lee, K. & Dijk, M.A. van Understanding Commonality in Liquidity Around the World. Journal of Financial Economics, 105 (1), 82-112. doi: http://dx.doi.org/10.1016/j.jfineco.2011.12.008
Kirschenmann, K. & Norden, L. The relationship between borrower risk and loan maturity in small business lending. Journal of Business Finance and Accounting, 39 (5-6), 730-757. doi: http://dx.doi.org/10.1111/j.1468-5957.2012.02285.x
Knaup, M. & Wagner, W.B. A market-based measure of credit quality and bank performance during the subprime crisis. Management Science, 58 (8), 1423-1437. doi: http://dx.doi.org/10.1287/mnsc.1110.1501
Nguyen, T.T. & Dijk, M.A. van Corruption, Growth, and Governance: Private vs. State-owned Firms in Vietnam. Journal of Banking and Finance, 36 (11), 2935-2948. doi: http://dx.doi.org/10.1016/j.jbankfin.2012.03.027
Roon, F.A. de & Szymanowska, M. Asset Pricing Restrictions on Predictability: Frictions Matter. Management Science, 58 (10), 1916-1932. doi: http://dx.doi.org/10.1287/mnsc.1120.1522
Roosenboom, P.G.J. Valuing and pricing IPOs. Journal of Banking and Finance, 36 (6), 1653-1664. doi: http://dx.doi.org/10.1016/j.jbankfin.2012.01.009
2011
Baaij, M.G., Jong, A. de & Dalen, J. van The dynamics of superior performance among the largest firms in the global oil industry, 1954-2008. Industrial and Corporate Change, 20 (3), 789-824. doi: http://dx.doi.org/10.1093/icc/dtq065
Blitz, D., Huij, J.J. & Martens, M.P.E. Residual Momentum. Journal of Empirical Finance, 18 (3), 506-521. doi: http://dx.doi.org/10.1016/j.jempfin.2011.01.003
Bongaerts, D.G.J., De Jong, F.C.J.M. & Driessen, J.J.A.G. Derivative Pricing with Liquidity Risk: Theory and Evidence from the Credit Default Swap Market. The Journal of Finance, 66 (1), 203-240. doi: http://dx.doi.org/10.1111/j.1540-6261.2010.01630.x
De Jong, A., Verbeek, M.J.C.M. & Verwijmeren, P. Firms' debt-equity decisions when the static tradeoff theory and the pecking order theory disagree. Journal of Banking and Finance, 35 (5), 1303-1314. doi: http://dx.doi.org/10.1016/j.jbankfin.2010.10.006
Jong, A. de, Colli, A. & Iversen, M. Mapping Strategy, structure, ownership and performance in European corporations: Introduction. Business History, 53 (1), 1-13. doi: http://dx.doi.org/10.1080/00076791.2011.546655
Jong, A. de, Sluyterman, K. & Westerhuis, Gerarda Strategic and structural responses to international dynamics in the open Dutch economy, 1963-2003. Business History, 53 (1), 63-84. doi: http://dx.doi.org/10.1080/00076791.2011.546666
Jong, A. de, Verwijmeren, P. & Jiang, T. Strategic debt in vertical relations: Evidence from franchising. Journal of Retailing, 87 (3), 381-392. doi: http://dx.doi.org/10.1016/j.jretai.2010.12.002
Jong, A. de, Dutordoir, M.D.R.P. & Verwijmeren, P. Why do convertible issuers simultaneously repurchase stock? An arbitrage-based explanation. Journal of Financial Economics, 100 (1), 113-129. doi: http://dx.doi.org/10.1016/j.jfineco.2010.10.016
Dijk, M.A. van Is Size Dead? A Review of the Size Effect in Equity Returns. Journal of Banking and Finance, 35 (12), 3263-3274. doi: http://dx.doi.org/10.1016/j.jbankfin.2011.05.009
Huij, J.J. & Derwall, J.M.M. Global Equity Fund Performance, Portfolio Concentration, and the Fundamental Law of Active Management. Journal of Banking and Finance, 35 (1), 155-165. doi: http://dx.doi.org/10.1016/j.jbankfin.2010.07.032
Koedijk, C.G., Tims, B. & Dijk, M.A. van Why Panel Tests of Purchasing Power Parity Should Allow for Heterogeneous Mean Reversion. Journal of International Money and Finance, 30 (1), 246-267. doi: http://dx.doi.org/10.1016/j.jimonfin.2010.10.004
Mehrotra, V., Schaik, D. van, Steenbeek, O.W. & Spronk, J. Creditor-Focused Corporate Governance: Evidence from Mergers and Acquisitions in Japan. Journal of Financial and Quantitative Analysis, 46 (4), 1051-1072. doi: http://dx.doi.org/10.1017/S002210901100024X
Schlingemann, F.P., D'Mello, R., Demiralp, I. & Subramaniam, V. Are there monitoring benefits to institutional ownership? Evidence from seasoned equity offerings. Journal of Corporate Finance, 17 (5), 1340-1359. doi: http://dx.doi.org/10.1016/j.jcorpfin.2011.07.002
Wagner, W.B. & Nijskens, R.G.M. Credit risk transfer activities and systemic risk. Journal of Banking and Finance, 35 (6), 1391-1398. doi: http://dx.doi.org/10.1016/j.jbankfin.2010.10.001
Wagner, W.B. Systemic liquidation risk and the diversity-diversification trade-off. The Journal of Finance, 66 (4), 1141-1175. doi: http://dx.doi.org/10.1111/j.1540-6261.2011.01666.x
Westerhuis, Gerarda, Larson, M., Schnyder, G. & Wilson, J. Strategic responses to global challenges: the case of European banking, 1973-2000. Business History, 53 (1), 40-62. doi: http://dx.doi.org/10.1080/00076791.2011.546660
2010
De Jong, A., Verbeek, M.J.C.M. & Verwijmeren, P. The impact of financing surpluses and large financing deficits on tests of the pecking order theory. Financial Management - FM, 39 (2), 733-756. doi: http://dx.doi.org/10.1111/j.1755-053X.2010.01090.x
Eijffinger, S.C.W. & Wagner, W.B. Incentive constraints and the pattern of international risk sharing. Journal of International Money and Finance, 29 (7), 1206-1225. doi: http://dx.doi.org/10.1016/j.jimonfin.2010.06.002
Foos, D., Norden, L. & Weber, M. Loan growth and riskiness of banks. Journal of Banking and Finance, 34 (12), 2929-2940. doi: http://dx.doi.org/10.1016/j.jbankfin.2010.06.007
Jiang, H. Institutional investors, intangible information, and the book-to-market effect. Journal of Financial Economics, 96 (1), 98-127. doi: http://dx.doi.org/10.1016/j.jfineco.2009.11.007
Koning, M., Roosenboom, P.G.J. & Mertens, G.M.H. The impact of media attention on the use of alternative earnings measures. Abacus, 46 (3), 258-288. doi: http://dx.doi.org/10.1111/j.1467-6281.2010.00319.x
Moerman, G.A. & Dijk, M.A. van Inflation Risk and International Asset Returns. Journal of Banking and Finance, 34 (4), 840-855. doi: http://dx.doi.org/10.1016/j.jbankfin.2009.09.014
Norden, L. & Weber, M. Credit line usage, checking account activity, and default risk of bank borrowers. The Review of Financial Studies, 23 (10), 3665-3699. doi: http://dx.doi.org/10.1093/rfs/hhq061
Sojli, E., Sarno, L. & King, M. Timing Exchange Rates Using Order Flow: The Case of the Loonie. Journal of Banking and Finance, 34 (12), 2917-2928. doi: http://dx.doi.org/10.1016/j.jbankfin.2010.02.016
Wagner, W.B. Diversification at financial institutions and systemic crises. Journal of Financial Intermediation, 19 (3), 373-386. doi: http://dx.doi.org/10.1016/j.jfi.2009.07.002
Wagner, W.B. Divestment, entrepreneurial incentives and the life cycle of the firm. Journal of Business Finance and Accounting, 37 (5-6), 591-611. doi: http://dx.doi.org/10.1111/j.1468-5957.2010.02184.x