• EDUCATION Open or Close

    PH D, University of Rochester, Finance, 2004.

    MS, University of Rochester, Applied Economics, 2002.

    MS, Tel Aviv University, Finance, 1999.

    BA, Ben Gurion University, Economics, 1996.

  • CURRENT COURSESOpen or Close

    SMG FE449 D1 Corporate Financial Management

    SMG FE449 E1 Corporate Financial Management

  • PUBLICATIONSOpen or Close


      Lyandres, E., Fu, F., & Li, X. (In Press). Do IPO Underwriters Collude in IPO Pricing?. Management Science.

      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 (1), 21-37.

      Lyandres, E., & Zhdanov, A. (2013). Investment Opportunities and Bankruptcy Prediction. Journal of Financial Markets, 3 (16), 439-476.

      Lyandres, E., Grullon, G., & Zhdanov, A. (2012). Real Options, Volatility, and Stock Returns. Journal of Finance, 67 (4), 1499-1537.

      Lyandres, E., Bernile, G., & Zhdanov, A. (2012). A Theory of Strategic Mergers. Review of Finance, 16 (2), 517-575.

      Lyandres, E., & Bernile, G. (2011). Understanding Investor Sentiment: The Case of Soccer. Financial Management, 40 (2), 357-380.

      Lyandres, E., & Chod, J. (2011). Strategic IPOs and Product Market Competition. Journal of Financial Economics, 100 (1), 45-67.

      Lyandres, E., Hsieh, J., & Zhdanov, A. (2011). A Theory of Merger-Driven IPOs. Journal of Financial and Quantitative Analysis, 46 (5), 1367-1405.

      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 Cost of Issuing Seasoned Equity. Finance Research Letters, 7 (1), 39-52.

      Lyandres, E., Bernile, G., & , D. (2007). The Size of Venture Capital and Private Equity Fund Portfolios. Journal of Corporate Finance, 13 (4).

      Lyandres, E. (2007). External Financing Costs, Investment Timing, and Investment-Cash Flow Sensitivity. Journal of Corporate Finance, 13 (5).

      Lyandres, E., Zhang, L., & Sun, L. (2008). The New Issues Puzzle: Testing the Investment-Based Explanation. Review of Financial Studies, 21 (6).

      Lyandres, E. (2007). Strategic Cost of Diversification. Review of Financial Studies, 20 (6).

      Lyandres, E. (2006). Capital Structure and Interaction among Firms in Output Markets. Journal of Business, 79 (5).


      Cziraki, P., Lyandres, E., & Michaely, R. What do insiders know? Evidence from trading around share repurchases and SEOs.

      Lyandres, E., & Larkin, Y. Inefficient Mergers. United States

      Lyandres, E., Marchica, M., Michaely, R., & Mura, R. Owners' Portfolio Diversification and Firm Investment: Theory and Evidence from Private and Public Firms. United States

      Lyandres, E., & Bernile, G. Merger Synergies Along the Supply Chain. United States

      Lyandres, E., Chod, J., & Song, A. Trade Credit and Competition. United States

      Lyandres, E., & Kogan, S. Estimating Strategic Interactions. United States

      Lyandres, E., & Watanabe, M. Product Market Competition and Equity Returns.

      Lyandres, E., Zhdanov, A., & Matveyev, E. Misvaluation of Investment Options. United States

  • AWARDS AND HONORSOpen or Close

    Best Paper Award at the Northern Finance Association Meeting, Northern Finance Association, Research. (September 20, 2014).

    Best Paper Award at the European Winter Finance Summit, Research. (March 11, 2013).

    First prize for the best paper published in Financial Management in 2010-2012, Financial Management Association, Research. (October 10, 2012).

    Best Discussant Award, Caesarea Conference, Herzeliya, Israel, Research. (June 1, 2009).

    Best discussant of a conference paper, out of 15 discussants

    Rice University Jones Graduate School of Management Research Excellence Award, Rice University, Research. (May 1, 2008).

    Runner up for the best paper award at the European Finance Association meeting, European Finance Association, Research. (August 1, 2005).
    for "New Issues Puzzle: Testing the Investment-Based Explanation"

  • WEB LINKSOpen or Close