Evgeny Lyandres

EDUCATION

PhD, University of Rochester, 2005 MS, University of Rochester, 2002 MS, Tel Aviv University, 1999 BA, Ben Gurion University, 1996

SELECTED PUBLICATIONS

• Lyandres, E., Matveyev, E., Zhdanov, A. (In Press). "Does the market correctly value investment options?", Review of Finance
• Cziraki, P., Lyandres, E., Michaely, R. (In Press). "What Do Insiders Know? Evidence from Insider Trading Around Share Repurchases and SEOs", Journal of Corporate Finance
• Larkin, Y., Lyandres, E. (In Press). "Inefficient Mergers", Journal of Banking and Finance
• Lyandres, E., Marchica, M., Michaely, R., Mura, R. (2019). "Owners’ Portfolio Diversification and Firm Investment", The Review of Financial Studies, 32 (12), 4855-4904
• Lyandres, E., Palazzo, B., Rabetti, D. (2019). "An Anatomy of Initial Coin Offerings", Management Science
• Chod, J., Lyandres, E., Yang, S. (2019). "Trade credit and supplier competition", Journal of Financial Economics, 131 (2), 484-505
• Lyandres, E., Marchica, M., Michaely, R., Mura, R. (2018). "Owners' Portfolio Diversification and Firm Investment: Theory and Evidence from Private and Public Firms", Johnson School Research Paper Series (18)
• Lyandres, E., Fu, F., Li, E. (2018). "Do Underwriters Compete in IPO Pricing?", Management Science, 64 (2), 925-954
• Lyandres, E., Palazzo, B. (2016). "Cash Holdings, Competition, and Innovation", Journal of Financial and Quantitative Analysis, 51 (6), 1823-1861
• Lyandres, E., Zhdanov, A. (2014). "Convertible debt and investment timing", Journal of Corporate Finance, 24 21-37
• Lyandres, E., Zhdanov, A. (2013). "Investment opportunities and bankruptcy prediction", Journal of Financial Markets, 16 (3), 439-476
• Grullon, G., Lyandres, E., Zhdanov, A. (2012). "Real Options, Volatility, and Stock Returns", Journal of Finance, 67 (4), 1499-1537
• Bernile, G., Lyandres, E., Zhdanov, A. (2012). "A Theory of Strategic Mergers", Review of Finance, 16 (2), 517-575
• Hsieh, J., Lyandres, E., Zhdanov, A. (2011). "A Theory of Merger-Driven IPOs", Journal of Financial and Quantitative Analysis, 46 (5), 1367-1405
• Bernile, G., Lyandres, E. (2011). "Understanding Investor Sentiment: The Case of Soccer", Financial Management, 40 (2), 357-380
• Chod, J., Lyandres, E. (2011). "Strategic IPOs and product market competition", Journal of Financial Economics, 100 (1), 45-67
• Lyandres, E., Zhdanov, A. (2010). "Accelerated investment effect of risky debt", Journal of Banking and Finance, 34 (11), 2587-2599
• Lyandres, E. (2010). "Target leverage and the costs of issuing seasoned equity", Finance Research Letters, 7 (1), 39-52
• Lyandres, E., Sun, L., Zhang, L. (2008). "The New Issues Puzzle: Testing the Investment-Based Explanation", Review of Financial Studies, 21 (6), 2825-2855
• Lyandres, E. (2007). "Costly external financing, investment timing, and investment-cash flow sensitivity", Journal of Corporate Finance, 13 (5), 959-980
• Lyandres, E. (2007). "Strategic cost of diversification", Review of Financial Studies, 20 (6), 1901-1940
• Bernile, G., Cumming, D., Lyandres, E. (2007). "The size of venture capital and private equity fund portfolios", Journal of Corporate Finance, 13 (4), 564-590
• Lyandres, E. (2006). "Capital structure and interaction among firms in output markets: Theory and evidence", Journal of Business, 79 (5), 2381-2421
• Chod, J., Lyandres, E."A Theory of ICOs: Diversification, Agency, and Information Asymmetry", Management Science

SELECTED RESEARCH PRESENTATIONS

• Lyandres, E. An anatomy of initial coin offerings, Boston College, 2019
• Lyandres, E. Product Market Competition with Crypto Tokens and Smart Contracts, Columbia University New Technologies in Finance Conference, 2019
• Lyandres, E. A theory of ICOs: Diversification, agency and information asymmetry, Eastern Finance Association Meeting, 2019
• Lyandres, E. Equity Issuance Methods and Dilution, European Winter Finance Summit, 2019
• Lyandres, E. Rigged Economies, Midwest Finance Association Meeting, 2019
• Lyandres, E. Decentralized mining in centralized pools, Econometric Society Meeting, 2019
• Lyandres, E. Misvaluation of Investment Options, BI Workshop on Production-Based Asset Pricing, 2018
• Lyandres, E. Owners' Portfolio Diversification and Firm Investment: Theory and Evidence from Private and Public Firms, University of Vienna, 2018
• Lyandres, E. Well Begun is Half Done: Initial R&D Competence and Firm Growth, Society for Finance, Organizations, and Markets, Los Angeles, CA, 2017
• Lyandres, E. Search Frictions and M&A Outcomes, European Finance Association, Mannheim, Germany, 2017
• Lyandres, E. Falling into traps? Patent thickets, patent commercialization, and stock returns, Asian Bureau of Finance and Economic Research, Singapore, 2017

AWARDS AND HONORS

• 2019, Hogeg Blockchain Research Institute grant for Product market competition with crypto tokens and smart contracts", Tel Aviv University
• 2019, Runner-up for the Best Paper in cryptocurrency economics award at the Toronto Fintech Conference
• 2019, Best Discussant award, European Winter Finance Summit
• 2019, Danish Ministry of Science award for The firm's life cycle: Investment and financing decisions"
• 2018, Review of Finance Distinguished Referee Award, Review of Finance
• 2017, Broderick Prize for excellence in research scholarship, Bosto University Questrom School of Business
• 2014, Best Paper Award at the Northern Finance Association Meeting, Northern Finance Association
• 2013, Best Paper Award at the European Winter Finance Summit
• 2012, First prize for the best paper published in Financial Management in 2010-2012, Financial Management Association
• 2009, Best Discussant Award, Caesarea Conference, Herzeliya, Israel
• 2008, Rice University Jones Graduate School of Management Research Excellence Award, Rice University
• 2005, Runner up for the best paper award at the European Finance Association meeting, European Finance Association