Itay Goldstein

University of Pennsylvania - The Wharton School - Finance Department

Associtae Professor

The Wharton School

3620 Locust Walk

Philadelphia, PA 19104

United States

SCHOLARLY PAPERS

70

DOWNLOADS
Rank 1,294

SSRN RANKINGS

Top 1,294

in Total Papers Downloads

28,153

SSRN CITATIONS
Rank 408

SSRN RANKINGS

Top 408

in Total Papers Citations

1,531

CROSSREF CITATIONS

781

Scholarly Papers (70)

1.

The Real Effects of Financial Markets: The Impact of Prices on Takeovers

Journal of Finance 67(3), 933-971, June 2012
Number of pages: 58 Posted: 19 Mar 2008 Last Revised: 04 Jun 2014
Alex Edmans, Itay Goldstein and Wei Jiang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Columbia Business School - Finance and Economics
Downloads 2,063 (9,522)
Citation 37

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Takeovers, mergers and acquisitions, market valuation, feedback effects, financial and real efficiency, merger waves

2.

Good Disclosure, Bad Disclosure

Journal of Financial Economics (JFE), Forthcoming, Rotman School of Management Working Paper No. 2388976, AFA 2016 Annual Meetings
Number of pages: 66 Posted: 02 Feb 2014 Last Revised: 21 Nov 2017
Itay Goldstein and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department and University of Toronto - Rotman School of Management
Downloads 1,308 (19,483)
Citation 44

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Disclosure, price informativeness, learning, real efficiency

3.
Downloads 1,195 ( 22,336)
Citation 66

Self-Fulfilling Credit Market Freezes

Review of Financial Studies, Vol. 24, No. 11, pp. 3519-3555, 2011, Harvard Law and Economics Discussion Paper No. 623
Number of pages: 50 Posted: 13 Dec 2008 Last Revised: 07 Dec 2011
Lucian A. Bebchuk and Itay Goldstein
Harvard Law School and University of Pennsylvania - The Wharton School - Finance Department
Downloads 1,012 (28,023)
Citation 15

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Credit freeze, self-fulfilling crisis, run on the economy, global games, coordination failure, capital injection, government policy, lender of last resort

Self-Fulfilling Credit-Market Freezes

AFA 2011 Denver Meetings Paper
Number of pages: 42 Posted: 17 Mar 2010 Last Revised: 07 Dec 2011
Lucian A. Bebchuk and Itay Goldstein
Harvard Law School and University of Pennsylvania - The Wharton School - Finance Department
Downloads 148 (251,450)
Citation 1

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Self-Fulfilling Credit Market Freezes

Number of pages: 43 Posted: 04 Jun 2010 Last Revised: 22 Oct 2021
Lucian A. Bebchuk and Itay Goldstein
Harvard Law School and University of Pennsylvania - The Wharton School - Finance Department
Downloads 35 (568,863)
Citation 9

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4.

Price Informativeness and Investment Sensitivity to Stock Price

Number of pages: 46 Posted: 03 Mar 2005
Qi Chen, Itay Goldstein and Wei Jiang
Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department and Columbia Business School - Finance and Economics
Downloads 1,189 (22,502)
Citation 150

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investments and stock prices, price informativeness, firm-specific return variation, PIN

Information Disclosure in Financial Markets

Annual Review of Financial Economics, 2017, 9, 101–125, Rotman School of Management Working Paper No. 2927013
Number of pages: 38 Posted: 04 Mar 2017 Last Revised: 21 Nov 2017
Itay Goldstein and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department and University of Toronto - Rotman School of Management
Downloads 1,084 (25,368)
Citation 57

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disclosure, market quality, crowding-out effect, learning from prices, real efficiency, welfare

Information Disclosure in Financial Markets

Annual Review of Financial Economics, Vol. 9, pp. 101-125, 2017
Posted: 03 Jan 2018
Itay Goldstein and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department and University of Toronto - Rotman School of Management

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6.
Downloads 1,078 ( 25,979)
Citation 103

The Real Effects of Financial Markets

Annual Review of Financial Economics 4, 339-360, October 2012, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 323/2012
Number of pages: 41 Posted: 24 Dec 2011 Last Revised: 30 Oct 2018
Philip Bond, Alex Edmans and Itay Goldstein
University of Washington - Michael G. Foster School of Business, London Business School - Institute of Finance and Accounting and University of Pennsylvania - The Wharton School - Finance Department
Downloads 992 (28,821)
Citation 94

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Feedback effects, financial efficiency, market efficiency, real efficiency

The Real Effects of Financial Markets

Number of pages: 36 Posted: 31 Dec 2011 Last Revised: 02 Dec 2021
Philip Bond, Alex Edmans and Itay Goldstein
University of Washington - Michael G. Foster School of Business, London Business School - Institute of Finance and Accounting and University of Pennsylvania - The Wharton School - Finance Department
Downloads 86 (370,437)
Citation 12

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The Real Effects of Financial Markets

Annual Review of Financial Economics, Vol. 4, pp. 339-360, 2012
Posted: 04 Nov 2012
Philip Bond, Alex Edmans and Itay Goldstein
University of Washington - Michael G. Foster School of Business, London Business School - Institute of Finance and Accounting and University of Pennsylvania - The Wharton School - Finance Department

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7.

Should Banks' Stress Test Results Be Disclosed? An Analysis of the Costs and Benefits

Foundations and Trends in Finance, Forthcoming
Number of pages: 51 Posted: 15 Dec 2013
Itay Goldstein and Haresh Sapra
University of Pennsylvania - The Wharton School - Finance Department and Booth School of Business, University of Chicago
Downloads 978 (29,856)
Citation 43

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Bank stress tests, stress tests disclosures

Feedback Effects, Asymmetric Trading, and the Limits to Arbitrage

American Economic Review, Forthcoming, AFA 2013 San Diego Meetings Paper, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 318/2015
Number of pages: 67 Posted: 21 Mar 2011 Last Revised: 29 Oct 2018
Alex Edmans, Itay Goldstein and Wei Jiang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Columbia Business School - Finance and Economics
Downloads 786 (39,876)
Citation 29

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Limits to arbitrage, feedback effect, overinvestment

Feedback Effects and the Limits to Arbitrage

Number of pages: 52 Posted: 15 Nov 2011 Last Revised: 18 Jul 2021
Alex Edmans, Itay Goldstein and Wei Jiang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Columbia Business School - Finance and Economics
Downloads 37 (557,563)

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Feedback Effects and the Limits to Arbitrage

Number of pages: 44 Posted: 02 Jun 2014
Alex Edmans, Itay Goldstein and Wei Jiang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Columbia Business School - Finance and Economics
Downloads 1 (838,431)
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feedback effect, Limits to arbitrage, overinvestment

9.

To FinTech and Beyond

Number of pages: 21 Posted: 06 Nov 2019
Itay Goldstein, Wei Jiang and George Andrew Karolyi
University of Pennsylvania - The Wharton School - Finance Department, Columbia Business School - Finance and Economics and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 774 (41,335)
Citation 18

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Financial Technology; Blockchain; Cryptocurrency; Roboadvising; Big Data; Peer-to-Peer Lending; Registered Reports

10.

Bank Transparency and Deposit Flows

Number of pages: 69 Posted: 01 Aug 2018 Last Revised: 27 Aug 2021
Qi Chen, Itay Goldstein, Zeqiong Huang and Rahul Vashishtha
Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department, Yale School of Management and Duke University
Downloads 764 (42,041)
Citation 8

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Transparency, Banks, Money, Safe assets, Deposits, Liquidity transformation

11.

Housing Price Booms and Crowding-Out Effects in Bank Lending

Review of Financial Studies, Forthcoming, University of Miami Business School Research Paper No. 18-2
Number of pages: 75 Posted: 08 Apr 2013 Last Revised: 10 Oct 2018
University of Miami, University of Pennsylvania - The Wharton School - Finance Department and Virginia Tech
Downloads 757 (42,583)
Citation 50

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Bank Loans, Housing Shocks, Investment Policy

12.

Monetary Stimulus and Bank Lending

Journal of Financial Economics (JFE), Forthcoming, Finance Down Under 2017 Building on the Best from the Cellars of Finance
Number of pages: 79 Posted: 21 Feb 2016 Last Revised: 19 Jul 2019
University of Miami, University of Pennsylvania - The Wharton School - Finance Department and Virginia Tech
Downloads 753 (42,881)
Citation 68

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Bank Lending, Quantitative Easing, Mortgage-Backed Securities

13.

Information Diversity and Complementarities in Trading and Information Acquisition

Journal of Finance, 2015, 70(4): 1723-1765, Rotman School of Management Working Paper No. 1909501
Number of pages: 98 Posted: 16 Aug 2011 Last Revised: 26 Feb 2016
Itay Goldstein and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department and University of Toronto - Rotman School of Management
Downloads 742 (43,732)
Citation 52

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information diversity, uncertainty reduction effect, price informativeness, complementarity

14.

Commodity Financialization and Information Transmission

AFA 2016 Annual Meeting, NBER 2015 Commodity Meeting, Rotman School of Management Working Paper No. 2555996, The Wharton School Research Paper, 28th Annual Conference on Financial Economics and Accounting, Journal of Finance, Forthcoming
Number of pages: 66 Posted: 27 Jan 2015 Last Revised: 17 Aug 2021
Itay Goldstein and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department and University of Toronto - Rotman School of Management
Downloads 720 (45,535)
Citation 17

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Commodity financialization, supply channel, price informativeness, feedback effect

15.

Investor Flows and Fragility in Corporate Bond Funds

Number of pages: 50 Posted: 21 Apr 2015 Last Revised: 18 Jul 2015
Itay Goldstein, Hao Jiang and David T. Ng
University of Pennsylvania - The Wharton School - Finance Department, Michigan State University and Johnson College of Business
Downloads 710 (46,402)
Citation 102

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Fund Flows, Fragility, Bond Funds, Runs

16.

Costly Communication, Shareholder Activism, and Limits to Arbitrage

AFA 2007 Chicago Meetings Paper
Number of pages: 51 Posted: 07 Nov 2005
Michael Bradley, Alon Brav, Itay Goldstein and Wei Jiang
Duke University - Fuqua School of Business, Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department and Columbia Business School - Finance and Economics
Downloads 692 (48,043)
Citation 13

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Limits to Arbitrage, Communication, Shareholder Activism, Closed-End Funds

17.

Demand Deposit Contracts and the Probability of Bank Runs

Number of pages: 42 Posted: 26 Feb 2002
Itay Goldstein and Ady Pauzner
University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University - Eitan Berglas School of Economics
Downloads 675 (49,638)
Citation 356

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The Real Effects of Modern Information Technologies

Number of pages: 63 Posted: 14 Jul 2020 Last Revised: 18 Nov 2021
Itay Goldstein, Shijie Yang and Luo Zuo
University of Pennsylvania - The Wharton School - Finance Department, The Chinese University of Hong Kong, Shenzhen and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 305 (127,108)
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The Real Effects of Modern Information Technologies: Evidence from the EDGAR Implementation

Number of pages: 61 Posted: 07 Jul 2020 Last Revised: 19 Oct 2021
Itay Goldstein, Shijie Yang and Luo Zuo
University of Pennsylvania - The Wharton School - Finance Department, The Chinese University of Hong Kong, Shenzhen and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 304 (127,547)

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Corporate Investment, Information Technologies, EDGAR, Equity Financing, Managerial Learning.

Incentives for Information Production in Markets Where Prices Affect Real Investment

Journal of the European Economic Association, Forthcoming
Number of pages: 38 Posted: 22 Nov 2013 Last Revised: 09 Jul 2016
James Dow, Itay Goldstein and Alexander Guembel
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Toulouse School of Economics, University of Toulouse Capitole
Downloads 305 (127,108)
Citation 29

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Incentives for Information Production in Markets Where Prices Affect Real Investment

UBC Winter Finance Conference 2008 Paper
Number of pages: 43 Posted: 15 Jan 2007 Last Revised: 07 Dec 2011
James Dow, Itay Goldstein and Alexander Guembel
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Toulouse School of Economics, University of Toulouse Capitole
Downloads 294 (132,201)
Citation 37

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Information Production, Real Investments, Financial Markets

20.

Speculation and Hedging in Segmented Markets

Review of Financial Studies, 2014, 27(3): 881-922
Number of pages: 50 Posted: 21 Nov 2010 Last Revised: 26 Feb 2016
Itay Goldstein, Yan Li and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department, Temple University - Fox School of Business and Management and University of Toronto - Rotman School of Management
Downloads 589 (59,173)
Citation 22

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Speculation, Hedging, Market Segmentation, Price Informativeness, Information Acquisition, Asset Prices

21.

Overconfidence and Team Coordination

Number of pages: 32 Posted: 10 Dec 2003
Simon Gervais and Itay Goldstein
Duke University - Fuqua School of Business and University of Pennsylvania - The Wharton School - Finance Department
Downloads 583 (59,884)
Citation 9

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Overconfidence, Team Effort, Coordination

22.

Stress Tests and Information Disclosure

Journal of Economic Theory, Volume 177, September 2018, Pages 34–69, FRB of Philadelphia Working Paper No. 17-28
Number of pages: 57 Posted: 07 Sep 2017
Itay Goldstein and Yaron Leitner
University of Pennsylvania - The Wharton School - Finance Department and Washington University in St. Louis, Olin Business School
Downloads 578 (60,515)
Citation 52

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Bayesian persuasion, optimal disclosure, stress tests, bank regulation, adverse selection

23.

On ESG Investing: Heterogeneous Preferences, Information, and Asset Prices

Number of pages: 67 Posted: 12 Apr 2021
Itay Goldstein, Alexandr Kopytov, Lin Shen and Haotian Xiang
University of Pennsylvania - The Wharton School - Finance Department, The University of Hong Kong - Faculty of Business and Economics, INSEAD and Peking University - Department of Finance
Downloads 522 (68,865)
Citation 3

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ESG investing, heterogeneous preferences, price informativeness

24.
Downloads 490 ( 74,438)

Contracting with Synergies

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 320/2011, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 55 Posted: 13 Nov 2011 Last Revised: 11 Aug 2020
Alex Edmans, Itay Goldstein and John Zhu
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and University of Pennsylvania, The Wharton School, Finance Department
Downloads 463 (78,945)

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contract theory, complementarities, principal-agent problem, multiple agents, teams, synergies, influence

Contracting with Synergies

Number of pages: 40 Posted: 21 Nov 2011 Last Revised: 11 Aug 2021
Alex Edmans, Itay Goldstein and John Zhu
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and University of Pennsylvania, The Wharton School, Finance Department
Downloads 27 (618,873)

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Contracting with Synergies

Number of pages: 51 Posted: 17 Jul 2013
Alex Edmans, Itay Goldstein and John Zhu
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and University of Pennsylvania, The Wharton School, Finance Department
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complementarities, contract theory, influence, multiple agents, principal-agent problem, synergies, teams

Contracting with Synergies

Number of pages: 52 Posted: 19 Nov 2013
Alex Edmans, Itay Goldstein and John Zhu
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and University of Pennsylvania, The Wharton School, Finance Department
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complementarities, Contract theory, influence., multiple agents, principal-agent problem, synergies, teams

25.

Volatility of FDI and Portfolio Investments: The Role of Information, Liquidation Shocks and Transparency

Number of pages: 43 Posted: 05 Nov 2002
Itay Goldstein and Assaf Razin
University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University - Eitan Berglas School of Economics
Downloads 431 (86,728)
Citation 2

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FDI, Capital Flows, Transparency, Asymmetric Information, Corporate Governance

26.

Manipulation, the Allocational Role of Prices and Production Externalities

Number of pages: 44 Posted: 11 Mar 2002
Itay Goldstein and Alexander Guembel
University of Pennsylvania - The Wharton School - Finance Department and Toulouse School of Economics, University of Toulouse Capitole
Downloads 427 (87,696)
Citation 79

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Manipulation, speculation, market efficiency, production externalities

27.

Market Efficiency and Real Efficiency: The Connect and Disconnect via Feedback Effects

American Finance Association 2015 Annual Meeting, ASSA Econometric Society 2014 Meetings, Society for Economic Dynamics 2014 Annual Meeting, 2014 China International Conference in Finance, Rotman School of Management Working Paper No. 2378120
Number of pages: 47 Posted: 13 Jan 2014 Last Revised: 26 Feb 2016
Itay Goldstein and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department and University of Toronto - Rotman School of Management
Downloads 424 (88,457)
Citation 9

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Market Efficiency, Real Efficiency, Feedback Effects, Externality

28.

Corporate Finance Theory: Introduction to Special Issue

Number of pages: 17 Posted: 24 Oct 2014
Itay Goldstein and Dirk Hackbarth
University of Pennsylvania - The Wharton School - Finance Department and Boston University - Department of Finance & Economics
Downloads 403 (93,765)

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The Choice of Exchange Rate Regime and Speculative Attacks

Number of pages: 43 Posted: 01 Mar 2002
Alex Cukierman, Itay Goldstein and Yossi Spiegel
Tel Aviv University - Eitan Berglas School of Economics, University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University, Coller School of Management
Downloads 325 (118,707)
Citation 1

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The Choice of Exchange Rate Regime and Speculative Attacks

Number of pages: 51 Posted: 11 Feb 2003
Alex Cukierman, Itay Goldstein and Yossi Spiegel
Tel Aviv University - Eitan Berglas School of Economics, University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University, Coller School of Management
Downloads 23 (648,194)
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Currency crises, choice of exchange rate regime, speculators, Tobin tax, global games, reputation

30.

Credit Rating Inflation and Firms' Investments

Number of pages: 58 Posted: 07 Dec 2017 Last Revised: 04 Sep 2019
Itay Goldstein and Chong Huang
University of Pennsylvania - The Wharton School - Finance Department and University of California, Irvine - Paul Merage School of Business
Downloads 326 (119,051)
Citation 12

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Credit rating agency, rating inflation, real effect, feedback effect

31.

Fundamentals or Panic: Lessons from the Empirical Literature on Financial Crises

Number of pages: 25 Posted: 27 Oct 2010 Last Revised: 07 Dec 2011
Itay Goldstein
University of Pennsylvania - The Wharton School - Finance Department
Downloads 320 (121,405)
Citation 8

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Financial Crises, Panic, Fundamentals, Bank Runs, Currency Attacks, Contagion, Twin Crises, Global Games, Identification of Strategic Complementarities

32.

Enhancing Prudential Standards in Financial Regulations

Number of pages: 26 Posted: 23 Dec 2014 Last Revised: 25 Dec 2014
Imperial College London, University of Pennsylvania - The Wharton School - Finance Department, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Promontory Financial Group
Downloads 311 (125,137)
Citation 6

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Financial Stability, Financial Regulations, Systemic Risk, Too Big To Fail, Stress Testing, Resolution Plan, Mortgage Finance

33.

Directors' Ownership in the U.S. Mutual Fund Industry

Number of pages: 55 Posted: 04 May 2005
Qi Chen, Itay Goldstein and Wei Jiang
Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department and Columbia Business School - Finance and Economics
Downloads 307 (126,877)
Citation 6

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Optimal contracting, mutual funds, board directors

34.

Initial Coin Offerings As a Commitment to Competition

Number of pages: 59 Posted: 14 Nov 2019 Last Revised: 05 Feb 2021
Itay Goldstein, Deeksha Gupta and Ruslan Sverchkov
University of Pennsylvania - The Wharton School - Finance Department, Carnegie Mellon University and University of Warwick - Warwick Business School
Downloads 304 (128,221)
Citation 9

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ICO, Utility Tokens, Crowd-funding, Blockchain, Financing

35.
Downloads 300 (130,092)

Big Data in Finance

Number of pages: 20 Posted: 22 Mar 2021
Itay Goldstein, Chester S. Spatt and Mao Ye
University of Pennsylvania - The Wharton School - Finance Department, Carnegie Mellon University - David A. Tepper School of Business and University of Illinois at Urbana-Champaign
Downloads 275 (141,782)

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Big Data

Big Data in Finance

Number of pages: 21 Posted: 29 Mar 2021 Last Revised: 19 Nov 2021
Itay Goldstein, Chester S. Spatt and Mao Ye
University of Pennsylvania - The Wharton School - Finance Department, Carnegie Mellon University - David A. Tepper School of Business and University of Illinois at Urbana-Champaign
Downloads 25 (633,223)
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36.

Mutual Fund Flows and Fluctuations in Credit and Business Cycles

Number of pages: 74 Posted: 17 Aug 2016 Last Revised: 14 Oct 2019
Azi Ben-Rephael, Jaewon Choi and Itay Goldstein
Rutgers Business School - Rutgers University, University of Illinois at Urbana-Champaign - Department of Finance and University of Pennsylvania - The Wharton School - Finance Department
Downloads 281 (139,226)
Citation 4

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Credit Cycle, Business Cycle, Mutual Fund Flows, High-Yield Bonds, Investor Demand, Leading Indicator

37.

Information Sharing in Financial Markets

Number of pages: 68 Posted: 14 Jul 2020 Last Revised: 23 Jun 2021
Itay Goldstein, Yan Xiong and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department, The Hong Kong University of Science and Technology and University of Toronto - Rotman School of Management
Downloads 275 (142,464)
Citation 1

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Information sharing, communication, sentiment, asset pricing

38.

Payoff Complementarities and Financial Fragility: Evidence from Mutual Fund Outflows

Number of pages: 50 Posted: 02 Mar 2007
Qi Chen, Itay Goldstein and Wei Jiang
Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department and Columbia Business School - Finance and Economics
Downloads 260 (150,768)
Citation 128

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Payoff Complementarities, Financial Fragility, Mutual Fund Outflows, Global Games, Liquidity

39.

Commitment to Overinvest and Price Informativeness

EFA 2006 Zurich Meetings Paper
Number of pages: 40 Posted: 15 Nov 2005
James Dow, Itay Goldstein and Alexander Guembel
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Toulouse School of Economics, University of Toulouse Capitole
Downloads 259 (151,353)
Citation 4

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Allocational Role of Price, Overinvestment, Price Informativeness, Business Cycles, Real Options, Financial Slack, Corporate Governance

Financial Fragility in the Covid-19 Crisis: The Case of Investment Funds in Corporate Bond Markets

Number of pages: 65 Posted: 24 Jul 2020 Last Revised: 19 Nov 2021
Antonio Falato, Itay Goldstein and Ali Hortaçsu
Board of Governors of the Federal Reserve System, University of Pennsylvania - The Wharton School - Finance Department and University of Chicago
Downloads 151 (247,365)
Citation 3

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Financial Fragility in the COVID-19 Crisis: The Case of Investment Funds in Corporate Bond Markets

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2020-98, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 66 Posted: 21 Jul 2020 Last Revised: 12 Aug 2021
Antonio Falato, Itay Goldstein and Ali Hortaçsu
Board of Governors of the Federal Reserve System, University of Pennsylvania - The Wharton School - Finance Department and University of Chicago
Downloads 93 (352,411)
Citation 1

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41.

Government Intervention and Information Aggregation by Prices

Number of pages: 59 Posted: 15 Mar 2010 Last Revised: 01 Dec 2014
Philip Bond and Itay Goldstein
University of Washington - Michael G. Foster School of Business and University of Pennsylvania - The Wharton School - Finance Department
Downloads 221 (176,522)
Citation 53

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42.

The Interdependence of Bank Capital and Liquidity

BAFFI CAREFIN Centre Research Paper No. 2020-128
Number of pages: 60 Posted: 23 Jan 2020
Bocconi University, University of Pennsylvania - The Wharton School - Finance Department and affiliation not provided to SSRNEuropean Central Bank, Financial Research Division
Downloads 200 (193,729)
Citation 7

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illiquidity, insolvency, fire sales, optimal regulation

43.

The Effects of Biased Self-Perception in Teams

Number of pages: 57 Posted: 13 Nov 2005
Simon Gervais and Itay Goldstein
Duke University - Fuqua School of Business and University of Pennsylvania - The Wharton School - Finance Department
Downloads 186 (206,730)
Citation 6

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Market-Based Regulation and the Informational Content of Prices

Number of pages: 52 Posted: 17 Dec 2006
Philip Bond, Itay Goldstein and Edward S. Prescott
University of Washington - Michael G. Foster School of Business, University of Pennsylvania - The Wharton School - Finance Department and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 155 (241,909)
Citation 1

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Market-based regulation, Market-based intervention, Price informativeness, Bank supervision

Market-Based Regulation and the Informational Content of Prices

Number of pages: 54 Posted: 07 Dec 2012
Philip Bond, Itay Goldstein and Edward S. Prescott
University of Washington - Michael G. Foster School of Business, University of Pennsylvania - The Wharton School - Finance Department and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 20 (671,355)
Citation 2

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rational expectations, regulation, market discipline

45.
Downloads 166 (227,990)
Citation 23

Government Guarantees and Financial Stability

ECB Working Paper No. 2032
Number of pages: 53 Posted: 07 Mar 2017
Imperial College London, Bocconi University - Department of Finance, University of Pennsylvania - The Wharton School - Finance Department and affiliation not provided to SSRNEuropean Central Bank, Financial Research Division
Downloads 165 (229,468)

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Panic Runs, Fundamental Runs, Government Guarantees, Bank Moral Hazard

Government Guarantees and Financial Stability

Number of pages: 48 Posted: 27 Apr 2015
Imperial College London, Bocconi University - Department of Finance, University of Pennsylvania - The Wharton School - Finance Department and affiliation not provided to SSRNEuropean Central Bank, Financial Research Division
Downloads 1 (838,431)
Citation 13
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bank moral hazard, fundamental runs, government guarantees, panic runs

The Positive Effects of Biased Self-Perceptions in Firms

Number of pages: 47 Posted: 15 Feb 2007
Simon Gervais and Itay Goldstein
Duke University - Fuqua School of Business and University of Pennsylvania - The Wharton School - Finance Department
Downloads 165 (229,468)
Citation 20

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Overconfidence, Complementarities, Firm Production and Organization, Leadership, Mergers

The Positive Effects of Biased Self-Perceptions in Firms

Review of Finance, Vol. 11, No. 3, pp. 453-496, 2007
Posted: 14 Jul 2008
Simon Gervais and Itay Goldstein
Duke University - Fuqua School of Business and University of Pennsylvania - The Wharton School - Finance Department

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D21, D62, L23, G30, G34

47.

Foreign Direct Investment vs. Foreiegn Portfolio Investment

Number of pages: 36 Posted: 09 Feb 2005 Last Revised: 09 Sep 2021
Itay Goldstein and Assaf Razin
University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University - Eitan Berglas School of Economics
Downloads 156 (240,224)

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48.

COVID-19 and Its Impact on Financial Markets and the Real Economy

Number of pages: 25 Posted: 03 Aug 2021
University of Pennsylvania - The Wharton School - Finance Department, University of Chicago - Booth School of Business and New York University (NYU) - Department of Finance
Downloads 150 (248,144)

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49.

Trading Frenzy and Its Impact on Real Investment

AFA 2010 Atlanta Meetings Paper
Number of pages: 33 Posted: 17 Mar 2009 Last Revised: 07 Dec 2011
Itay Goldstein, Emre Ozdenoren and Kathy Yuan
University of Pennsylvania - The Wharton School - Finance Department, London Business School and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 147 (252,159)
Citation 4

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Coordination, Asset price, Feedback, Excess Volatility

50.

Activist Arbitrage: A Study of Open-Ending Attempts of Closed-End Funds

Journal of Financial Economics, Vol. 95, No. 1, pp. 1-19, 2008
Number of pages: 43 Posted: 22 Oct 2011
Michael Bradley, Alon Brav, Itay Goldstein and Wei Jiang
Duke University - Fuqua School of Business, Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department and Columbia Business School - Finance and Economics
Downloads 132 (274,463)
Citation 3

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51.

Market Feedback: Evidence from the Horse’s Mouth

Rotman School of Management Working Paper No. 3874756
Number of pages: 44 Posted: 08 Jul 2021
Itay Goldstein, Bibo Liu and Liyan Yang
University of Pennsylvania - The Wharton School - Finance Department, Tsinghua University - PBC School of Finance and University of Toronto - Rotman School of Management
Downloads 130 (277,521)
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Market feedback, corporate investment, learning, financing

52.

Stress Tests Disclosure: Theory, Practice, and New Perspectives

To appear at Handbook of Financial Stress Testing, Edited by Farmer, Kleinnijenhuis, Wetzer, and Schuermann, Cambridge University Press, 2020
Number of pages: 29 Posted: 20 Jul 2020
Itay Goldstein and Yaron Leitner
University of Pennsylvania - The Wharton School - Finance Department and Washington University in St. Louis, Olin Business School
Downloads 127 (282,444)
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53.
Downloads 107 (319,143)
Citation 6

Optimal Deposit Insurance

Number of pages: 66 Posted: 01 Apr 2020
Eduardo Davila and Itay Goldstein
Yale University - Department of Economics and University of Pennsylvania - The Wharton School - Finance Department
Downloads 104 (327,481)
Citation 6

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Deposit Insurance, Bank Runs, Bank Regulation, Sufficient Statistics

Optimal Deposit Insurance

Number of pages: 52 Posted: 12 Apr 2021 Last Revised: 18 Nov 2021
Eduardo Davila and Itay Goldstein
Yale University - Department of Economics and University of Pennsylvania - The Wharton School - Finance Department
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Liquidity Transformation and Fragility in the US Banking Sector

Number of pages: 57 Posted: 25 Feb 2021
Rahul Vashishtha, Qi Chen, Itay Goldstein and Zeqiong Huang
Duke University, Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department and Yale School of Management
Downloads 79 (392,981)

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Liquidity transformation, Bank runs, Strategic complementarity

Liquidity Transformation and Fragility in the Us Banking Sector

Number of pages: 58 Posted: 14 Sep 2020 Last Revised: 18 Nov 2021
Qi Chen, Itay Goldstein, Zeqiong Huang and Rahul Vashishtha
Duke University - Fuqua School of Business, University of Pennsylvania - The Wharton School - Finance Department, Yale School of Management and Duke University
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55.

Three Branches of Theories of Financial Crises

Number of pages: 79 Posted: 05 Jan 2013 Last Revised: 08 Jul 2021
Itay Goldstein and Assaf Razin
University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University - Eitan Berglas School of Economics
Downloads 75 (397,603)
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56.

Do Asset Price Bubbles have Negative Real Effects?

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper, University of Miami Business School Research Paper No. 3676682
Number of pages: 55 Posted: 02 Apr 2013
University of Miami, University of Pennsylvania - The Wharton School - Finance Department and Virginia Tech
Downloads 69 (416,234)

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Bank Loans, Housing Shocks, Investment Policy, Leverage

57.

Globalization of Capital Movements: Potential Disadvantages and their Effect on Israel

Israel Economic Review, Vol. 2, No. 2, pp. 45-78, 2004
Number of pages: 34 Posted: 12 Nov 2012
Yoav Friedmann and Itay Goldstein
Bank of Israel and University of Pennsylvania - The Wharton School - Finance Department
Downloads 65 (429,475)

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An Information-Based Trade Off between Foreign Direct Investment and Foreign Portfolio Investment: Volatility, Transparency, and Welfare

Number of pages: 47 Posted: 03 Jan 2003 Last Revised: 07 Oct 2021
Itay Goldstein and Assaf Razin
University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University - Eitan Berglas School of Economics
Downloads 36 (563,222)

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An Information-Based Trade-Off between Foreign Direct Investment and Foreign Portfolio Investment: Volatility, Transparency and Welfare

Number of pages: 49 Posted: 07 Mar 2003
Itay Goldstein and Assaf Razin
University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University - Eitan Berglas School of Economics
Downloads 22 (655,856)
Citation 4
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59.
Downloads 55 (465,555)
Citation 1

Bank Heterogeneity and Financial Stability

Number of pages: 60 Posted: 24 Sep 2020 Last Revised: 10 Dec 2020
Itay Goldstein, Alexandr Kopytov, Lin Shen and Haotian Xiang
University of Pennsylvania - The Wharton School - Finance Department, The University of Hong Kong - Faculty of Business and Economics, INSEAD and Peking University - Department of Finance
Downloads 48 (502,852)

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Bank Heterogeneity and Financial Stability

Number of pages: 57 Posted: 15 Jun 2020 Last Revised: 18 Nov 2021
Itay Goldstein, Alexandr Kopytov, Lin Shen and Haotian Xiang
University of Pennsylvania - The Wharton School - Finance Department, The University of Hong Kong - Faculty of Business and Economics, INSEAD and Peking University - Department of Finance
Downloads 7 (779,977)
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60.

An Information-Based Trade Off between Foreign Direct Investment and Foreign Portfolio Investment

Number of pages: 36 Posted: 06 Feb 2006 Last Revised: 18 Aug 2021
Itay Goldstein and Assaf Razin
University of Pennsylvania - The Wharton School - Finance Department and Tel Aviv University - Eitan Berglas School of Economics
Downloads 51 (481,415)
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61.

The Interplay Among Financial Regulations, Resilience, and Growth

Number of pages: 30 Posted: 22 Feb 2018 Last Revised: 29 Apr 2020
Franklin Allen, Itay Goldstein and Julapa Jagtiani
Imperial College London, University of Pennsylvania - The Wharton School - Finance Department and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 46 (502,753)

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financial reform, capital regulations, liquidity regulations, too big to fail, living wills, Dodd–Frank Wall Street Reform and Consumer Protection Act, financial stability, interconnectedness

62.

Liquidity, Institutional Quality and the Composition of International Equity Outflows

Number of pages: 42 Posted: 30 Jan 2008 Last Revised: 02 Jul 2021
Itay Goldstein, Assaf Razin and Hui Tong
University of Pennsylvania - The Wharton School - Finance Department, Tel Aviv University - Eitan Berglas School of Economics and International Monetary Fund (IMF)
Downloads 31 (577,731)

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63.

Liquidity, Institutional Quality and the Composition of International Equity Flows

Number of pages: 37 Posted: 08 Feb 2010 Last Revised: 23 Jun 2021
Itay Goldstein, Assaf Razin and Hui Tong
University of Pennsylvania - The Wharton School - Finance Department, Tel Aviv University - Eitan Berglas School of Economics and International Monetary Fund (IMF)
Downloads 24 (621,928)

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64.

Housing Prices and Real Investment: Collateral vs. Crowding-Out Effects

Number of pages: 50 Posted: 03 Sep 2021 Last Revised: 21 Sep 2021
Deeksha Gupta and Itay Goldstein
Carnegie Mellon University and University of Pennsylvania - The Wharton School - Finance Department
Downloads 23 (628,765)

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Collateral, crowding-out, investment, housing taxes and subsidies

65.

Trading Frenzies and Their Impact on Real Investment

Number of pages: 38 Posted: 08 Feb 2010
Itay Goldstein, Emre Ozdenoren and Kathy Yuan
University of Pennsylvania - The Wharton School - Finance Department, London Business School and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 3 (780,679)
Citation 8
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Coordination, Financial markets, Heterogenous Information, Learning, Liquidity

66.

Learning and Complementarities: Implications for Speculative Attacks

Number of pages: 50 Posted: 08 Feb 2010
Itay Goldstein, Emre Ozdenoren and Kathy Yuan
University of Pennsylvania - The Wharton School - Finance Department, London Business School and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 2 (790,093)
Citation 3
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Coordination, Currency attacks, Feedback effects, Financial markets, Global games, Heterogenous information, Strategic complementarities

67.

Financial Regulation in Europe: Foundations and Challenges

Number of pages: 41 Posted: 18 Apr 2016
Thorsten Beck, Elena Carletti and Itay Goldstein
City University London - Sir John Cass Business School, Bocconi University and University of Pennsylvania - The Wharton School - Finance Department
Downloads 1 (801,650)
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Banking, Basel III, financial stability, regulation

68.

The Interplay between Financial Regulations, Resilience, and Growth

Number of pages: 38 Posted: 16 Apr 2018
Franklin Allen, Itay Goldstein and Julapa Jagtiani
Imperial College London, University of Pennsylvania - The Wharton School - Finance Department and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
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bank capital regulations, bank liquidity, Basel III, CET1, Doddâ?“Frank Act, Financial Stability, high-quality liquid assets (HQLAs)

69.

Managerial Learning from Stock Prices: A Structural Examination

Posted: 22 Nov 2015
Itay Goldstein and Di (Andrew) Wu
University of Pennsylvania - The Wharton School - Finance Department and University of Michigan, Stephen M. Ross School of Business

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price informativeness

70.

Market-Based Corrective Actions

The Review of Financial Studies, Vol. 23, Issue 2, pp. 781-820, 2009
Posted: 01 Feb 2010
Philip Bond, Itay Goldstein and Edward Simpson Prescott
University of Washington - Michael G. Foster School of Business, University of Pennsylvania - The Wharton School - Finance Department and affiliation not provided to SSRN

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D53, D80, G14, G21, G28, G34