Prof. Menachem (Meni) Abudy
CV
Education
Ph.D., Tel Aviv University, 11/2010. Major Field: Finance
Dissertation topic: Nonmarketability, Taxation and the Valuation of Equity-Based Compensation.
Thesis advisor: Prof. Simon Benninga
M.B.A., Tel Aviv University, 6/2004. Major Field: Finance, magna cum laude
B.A., Tel Aviv University, 4/1999. Major Field: Law, magna cum laude
B.A., Tel Aviv University, 5/1998. Major Field: Economics
Fields of Interest
Market microstructure, Liquidity, Marketability, Corporate governance, Equity-Based compensation, Behavioral Finance.
SSRN Author Page: http://ssrn.com/author=361389
Research
Research Grants
2022
ISF (Israel Science Foundation) grant No.2248/22
Raya Strauss Family Business Research Center
2019
ISF (Israel Science Foundation) grant No.1619/19
The Raymond Ackerman Family Chair in Israeli Corporate Governance grant
Bar-Ilan research grant for interdisciplinary research groups
2018
Raya Strauss Family Business Research Center
2017
The Raymond Ackerman Family Chair in Israeli Corporate Governance grant
2015
The Maurice Falk Institute for Economic Research in Israel
2014
ISF (Israel Science Foundation) grant No. 337/14
The Rothschild Caesarea Center for Capital Markets and Risk Management
2013
Winner of the TEVA Award in the name of Dan Suesskind for research in Corporate Finance and Financial Markets
2012
The Rothschild Caesarea Center for Capital Markets and Risk Management
Bar-Ilan Rector grant for high rank research proposal
2011
G.I.F. Young Scientist's Program research grant No. 2276-2196.4/2010
The Raymond Ackerman Family Chair in Israeli Corporate Governance grant
2010
KPMG Global Valuation Institute research grant
The Joseph Kasierer Institute for Research in Accounting grant
Honors and Awards
2009: Tel-Aviv Stock Exchange (TASE) Fellowship
Courses
| 70-631 | Corporate Finance | ||
| 70-014 | Principals of Finance | ||
| 70-617 | Quantitative methods in finance |
TA-100 Index from 2001-2011. The data was collected and processed during the research seminar of Cecilia Moskovitch and Lior Ohana. I thank them for publically sharing this information, and to Eddie Korol for his comments
Publications
Publications
"Non-Standard Errors", a crowd-sourced empirical project, joint with 342 co-authors. Journal of Finance 79(3) (2024), 2339-2390.
"Mutual Fund Flows and Government Bond Returns", with Daniel Nathan and Avi Wohl, Journal of Banking and Finance (2024), 107119.
"Don't Move My Cheese: Financial Advice Adaptation to Regulatory Change". with Ilan Gildin and Yevgeny Mugerman, Finance Research Letters (2024), 105005.
"Can Gender Pay-Gap Disclosures Make a Difference?", with David Aharon and Efrat Shust, Finance Research Letters 52 (2023), 103583
"Does Adopting Voluntary ESG Practices Affect Executive Compensation?" with Ilanit Gavious and Efrat Shust, Journal of International Financial Markets, Institutions and Money 83 (2023), 101718
"Does Market Design Contribute to Market Stability? Indications from Corporate Bond Exchange during the COVID-19 Crisis", with Efrat Shust, Journal of Economics and Business 123 (2023), 106105.
"The Winner Takes It All: Investor Sentiment and the Eurovision Song Contest" with Yevgeny Mugerman and Efrat Shust, Journal of Banking and Finance (2022), 106432.
"Do Computerized Traders Follow Social Norms? Evidence from the Holocaust Remembrance Moment of Silence", with Ilan Gildin and Yevgeny Mugerman, Finance Research Letters 48 (2022), 102914.
"Stock Markets and Female Participation in the Labor Force" with Yevgeny Mugerman and Zvi Wiener, Journal of International Financial Markets, Institutions & Money (2021), 101297.
"Retail Investors' Trading and Stock Market Liquidity", The North American Journal of Economics and Finance, 54 (2020), 101281.
"Do Executive Compensation Contracts Maximize Firm Value? Indications from a Quasi-Natural Experiment" with Dan Amiram, Oded Rozenbaum and Efrat Shust, Journal of Banking and Finance 114 (2020), 105787.
"What Happens to Trading Volume When the Regulator Bans Voluntary Disclosure" with Efrat Shust, European Accounting Review 29(3), 2020, 555-580.
"The Effect of Liquidity on Non-Marketable Securities" with Hadar Binskey and Alon Raviv, Finance Research Letters 26, (2018), 139-144.
"Corporate Bond Trading on a Limit Order Book Exchange" with Avi Wohl, Review of Finance 22(4), (2018), 1413-1440.
"How much Can Illiquidity Affects Corporate Debt Yield Spread?" with Alon Raviv, Journal of Financial Stability 25, (2016), 58-69.
"Valuing Restricted Stock Grants to Non-executive Employees" with Simon Benninga, Journal of Economics and Business 86, (2016), 33-51.
"The Cost of Equity for Private Firms", with Simon Benninga and Efrat Shust, Journal of Corporate Finance 37, (2016), 431-443.
"Israeli Mutual Funds' Performance: Equity and Bond Funds" with Moshe Barel and Avi Wohl, Israel Economic Review 13, (2016), 1-21.
"Changes in Controlling Shareholders’ Holdings: Do They Entail Financial Tunneling?" with Beni Lauterbach, Advances in Financial Economics 18, (2015), 47-63
"Nonmarketability and the Value of Employee-Stock Options" with Simon Benninga, Journal of Banking and Finance 37, (2013), 5500-5510
Publications (in Hebrew)
"Have hourly audit fees declined over time and have audit revenues declined due to the disclosure or audit and non-audit hours?" with Eli Amir, Shai Levi and Efrat Shust, Innovations in Management 11, 132-146.
"Silence is golden: how reporting restrictions affect investor disagreement" with Efrat Shust, Theory and Practice in Management 2, 23-32.
"The effects of the compensation cap law in financial institutions" with Dan Amiram, Oded Rozenbaum and Efrat Shust, Innovations in Management 9, 42-52.
"Corporate bond trading on the Tel Aviv Stock Exchange" with Avi Wohl, Innovations in Management 2 (2018),82-91.
"Changes in Controlling Shareholders' Holdings: Another Vehicle for Private Benefits Extraction?" with Eyal Yaniv, Beni Lauterbach and Oren Kapah, The Economic Quarterly 59 (1-2), (2012), 111-130. (in Hebrew)
Published discussions, invited papers, monographs, and other scientific publications
"Valuing Employee Stock Options and Restricted Stocks in the Presence of Market Imperfections" with Simon Benninga. KPMG Global Valuation Institute Report, v1, 2011.
"Employees' Attitude towards Equity-based Compensation" with Efrat Shust, Compensation and Benefits Review 44(5), (2012), 246-253.
"Attitude to Risk and the Subjective Value of Equity-Based Compensation", with Efrat Shust. The Joseph Kasierer Institute for Research in Accounting (November 2011) (in Hebrew).
"Keeping the Options Open", with Efrat Shust. The Accountant 29, 94-98, March 2012 (in Hebrew).
Media
- Calcalist, January 2012 (in Hebrew)
- TheMarker, July 2015 (in Hebrew)
- PR Newswire, Corporate Bonds Offer Investors Higher Liquidity in Israel than Worldwide
- Columbia Law School Blue Sky Blog, Do Contracts for Executive Compensation Maximize Firm Value?
- Columbia Law School Blue Sky Blog, Corporate Bond Trading on an Exchange
- Bloomberg Big Business, Corporate Bond Trading on an Exchange
- Mako (in Hebrew), the mississippilink, zenger news , Stock markets and female participation in the labor force (August 2021)
- TheMarker, October 2021 (in Hebrew), Do Contracts for Executive Compensation Maximize Firm Value?
- Proactive (a financial media portal), Investor Sentiment and the Eurovision Song Contest
-
Alphaarchitect.com https://alphaarchitect.com/2023/02/do-gender-pay-gap-disclosures-make-a-difference/
Working Papers
Working papers
"Selling, general, and administrative cost behavior of family firms", with Efrat Shust.
"Are Family Firms More Audit Risky? Analyzing Audit Fees, Hours and Rates", with Eli Amir and Efrat Shust
"Market Timing with Moving Average Distance: International Evidence", with Guy Kaplanski and Yevgeny Mugerman
Last Updated Date : 01/10/2024
