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- Publications
- Influence
Multimarket Trading and Market Liquidity
- B. Chowdhry, Vikram K. Nanda
- Economics
- 1 July 1991
When a security trades at multiple locations simultaneously, an informed trader has several avenues in which to exploit his private information. The greater the proportion of liquidity trading by… Expand
Common Stock Offerings Across the Business Cycle: Theory and Evidence
- Hyuk Choe, Ronald W. Masulis, Vikram K. Nanda
- Economics
- 1 June 1993
It is well known that historically a larger number of firms issue common stock and the proportion of external financing accounted for by equity is substantially higher in expansionary phases of the… Expand
Hot Markets, Investor Sentiment, and IPO Pricing
- Alexander P. Ljungqvist, R. Singh, Vikram K. Nanda
- Business
- 1 September 2001
Our model of the initial public offering process links the three main empirical IPO anomalies underpricing, hot issue markets, and long-run underperformance and traces them to a common source of… Expand
Affiliated Firms and Financial Support: Evidence from Indian Business Groups
- R. Gopalan, Vikram K. Nanda, Amit Seru
- Economics
- 1 July 2007
We investigate the functioning of internal capital markets in Indian Business Groups. We document that intra-group loans are an important means of transferring cash across group firms and that such… Expand
Board Expertise: Do Directors from Related Industries Help Bridge the Information Gap?
- Omesh Kini, N. Dass, B. Onal, Jun Wang, Vikram K. Nanda
- 22 August 2011
We investigate the importance of board expertise by analyzing the role of “directors from related industries�? (DRIs) on a firm’s board. DRIs are officers and/or directors of companies in the… Expand
On the Good News in Equity Carve-Outs
- Vikram K. Nanda
- Economics
- 1 December 1991
The announcement of the sale of equity in a wholly owned subsidiary of a corporation is received by the market as good news about the value of the existing equity in the parent corporation. This is… Expand
Family Values and the Star Phenomenon: Strategies of Mutual Fund Families
- Vikram K. Nanda, Z. Wang, Lu Zheng
- Economics
- 1 July 2003
We examine the extent to which a fund's cash flows are affected by the stellar performance of other funds in its family -- and consequences of such spillovers. We show that star performance results… Expand
Divisional diversity and the conglomerate discount: evidence from spinoffs
- Timothy R. Burch, Vikram K. Nanda
- Economics
- 1 October 2003
Existing literature argues that disparity in investment opportunities within diversified firms can erode firm value. We investigate this 'diversity cost' hypothesis in the context of spinoffs by… Expand
Are Incentive Contracts Rigged by Powerful CEOs
- Adair Morse, Vikram K. Nanda, Amit Seru
- Economics
- 1 October 2011
We argue that powerful CEOs induce their boards to shift the weight on performance measures towards the better performing measures, thereby rigging the incentive part of their pay. The intuition is… Expand
Tournament Behavior in Hedge Funds: High-water Marks, Fund Liquidation, and Managerial Stake
- G. Aragon, Vikram K. Nanda
- Economics
- 1 March 2012
We analyze whether risk shifting by a hedge fund manager is related to the manager's incentive contract, personal capital stake, and the risk of fund closure. We find that the propensity to increase… Expand
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