Dr. Yevgeny Mugerman

PEER-REVIEWED BOOKS (Author)

• Lecture Notes in Risk Management (with Y. Hecht), World Scientific Publishers, London
  https://doi.org/10.1142/13297

PEER-REVIEWED CHAPTERS IN BOOKS

• "(Un)intended Consequences of Macroprudential Regulation" (with M. Ofir), Forthcoming (book chapter in:  Law and Economics of Regulation [ed. Mathis, Klaus, and Tor, Avishalom], Springer Nature). Media coverage: https://www.law.ox.ac.uk/business-law-blog/blog/2021/03/unintended-consequences-macroprudential-regulation

• "Are Courts Biased? The Anchoring Heuristic and Judicial Decisions in Personal Bankruptcy Proceedings" (with N. Nadiv, and M. Ofir), 2021 (book chapter in: Behavioral Finance: A Novel Approach [ed. Venezia, Itzhak], World Scientific Publishers, London).

• "Anchoring and Adjustment in the Mortgage Market - Evidence from Regulatory Experiment" (with M. Ofir), 2020 (book chapter in:  Measuring the Effectiveness of Real-Estate Regulation [ed. Levine-Schnur, Ronit], Springer Nature).

• "When the Early Bird is too Early" (with A. Elkin), 2019 (book chapter in: Behavioral Finance: The Coming of Age [ed. Venezia, Itzhak], World Scientific Publishers, London).

• "Heuristics and Biases in the Israeli Mortgage Market" (with M. Ofir, and Z. Wiener), 2016 (book chapter in: Behavioral Finance: Sophistication, Gender, Attention, Media, and Culture Effects on Investors Decisions [ed. Venezia, Itzhak], World Scientific Publishers, London).

PEER-REVIEWED PUBLISHED ARTICLES

32. "Conditional Control: The Consequences of Expanding Creditors’ Right to Initiate Bankruptcy" (with A.Hamdani, R.Rooz, N.Steinberg, and Y.Yafeh), 2025 – (Journal of Law and Economics forthcoming) 
Media coverage: https://www.law.ox.ac.uk/business-law-blog/blog/2022/02/creditor-rights-implicit-covenants-and-quality-accounting-information

31. "Behavioral Insights into Financial Planning: A Gradualism Approach to Will-Making" (with E.Winter), 2024 – (Quarterly Journal of Finance forthcoming) 
 

30. "Market Timing with Moving Average Distance: International Evidence" (with M.Abudy, and G.Kaplanski), 2024 – (Journal of International Financial Markets, Institutions & Money Vol. 97)
https://doi.org/10.1016/j.intfin.2024.102065
Media coverage: https://medium.com/@bauermartin101/unveiling-the-global-predictive-power-of-moving-average-distance-in-market-timing-part-ii-81de1abf470c

29. "Ready for a change? How investment advice responds to regulatory changes" (with M.Abudy, and I.Gildin), 2024 – (Theory and Practice in Management - in Hebrew, Vol. 7)  

28. "Performance Monitoring and the Incentives for Exertion of Effort" (with E.Winter, and T.Yafeh), 2024 – (Quarterly Journal of Finance Vol 14, No 2; LEAD ARTICLE) 
https://doi.org/10.1142/S2010139224400056

27. "Prospect Theory in M&A: Do Historical Purchase Prices Affect Merger Offer Premiums and Announcement Returns?" (with B.Lauterbach, and S.Shemesh), 2024 – (Journal of Behavioral and Experimental Finance Vol. 42) 
https://doi.org/10.1016/j.jbef.2024.100931

26. "Regulating Cash Holdings: Assessing Lost Returns In Mutual Funds" (with S.Ben-Rubi, and Z.Wiener), 2024 – (Finance Research Letters Vol. 62,B)   
https://doi.org/10.1016/j.frl.2024.105226
https://authors.elsevier.com/a/1iltM5VD4Kuqi3

25. "Don’t Move My Cheese: Financial Advice Adaptation to Regulatory Change" (with M.Abudy, and I.Gildin), 2024 – (Finance Research Letters Vol. 61)  
https://doi.org/10.1016/j.frl.2024.105005
https://authors.elsevier.com/c/1iTPI5VD4Kuq9b

24. "National Pride, Investor Sentiment, and Stock Markets" (with M.Abudy, and E.Shust), 2023 – (Journal of International Financial Markets, Institutions & Money Vol. 89) 
https://doi.org/10.1016/j.intfin.2023.101879

23. "Doing the right thing? The Voting Power Effect and Institutional Shareholder Voting" (with E.Dressler), 2023 – (Journal of Business Ethics Vol. 183)
https://doi.org/10.1007/s10551-022-05108-y

22. "Do Computerized Traders Follow Social Norms? Evidence from the Holocaust Remembrance Moment of Silence" (with M.Abudy, and I.Gildin), 2022 – (Finance Research Letters Vol. 48)  
https://doi.org/10.1016/j.frl.2022.102914

21. "The Winner Takes It All: Investor Sentiment and the Eurovision Song Contest" (with M.Abudy, and E.Shust), 2022 – (Journal of Banking & Finance Vol. 137) 
https://doi.org/10.1016/j.jbankfin.2022.106432
The paper has been selected for inclusion in the Elsevier Research Selection.

20. "The Exclamation Mark of Cain: Risk Attitude and Mutual Fund Flows" (with N.Steinberg and Z.Wiener), 2022 – (Journal of Banking & Finance Vol. 134)
https://doi.org/10.1016/j.jbankfin.2021.106332

19. "Incentive Fees and Competition", 2022 – (Theory and Practice in Management - in Hebrew, Vol. 3)

18. "Alternative Venues for Going Private in Israel: Legal Analysis and Empirical Evidence" (with B.Lauterbach and B.Yarkoni), 2022 – (TAU Law Review - in Hebrew, Vol. 46)

17. "Debtors Always Remain Debtors: An Empirical View of Individual Insolvency Proceedings" (with M. Ofir and N.Nadiv), 2022 – (TAU Law Review - in Hebrew, Vol. 45)

16. "Meaning and Gender Differences" (with J.Bezalel and E.Winter), 2021 – (Journal of Behavioral and Experimental Economics Vol. 95)
https://doi.org/10.1016/j.socec.2021.101757

15. "The Choice Between Various Freeze-Out Procedures and Its Consequences" (with B.Lauterbach, E.Lyandres, and B.Yarkoni), 2021 (Journal of Law, Finance, and Accounting Vol. 6-2) 
http://dx.doi.org/10.1561/108.00000055
Media coverage: https://clsbluesky.law.columbia.edu/2021/07/29/the-choice-between-various-freeze-out-procedures-and-its-consequences/ 
 

14. "Financial Less Is More: An Experimental Study of Financial Communication" (with A.Hurwitz and E.Lahav), 2021 – (Journal of Behavioral and Experimental Economics Vol. 94)
https://doi.org/10.1016/j.socec.2021.101756 
Media coverage: https://pensionresearchcouncil.wharton.upenn.edu/blog/financial-less-is-more-an-experimental-study-of-financial-communication/

13. "Stock Markets and Female Participation in the Labor Force" (with M.Abudy and Z.Wiener), 2021 – (Journal of International Financial Markets, Institutions & Money Vol. 74)
https://doi.org/10.1016/j.intfin.2021.101297

12. "Out-of-Pocket vs. Out-of-Profit in Financial Advisory Fees: Evidence from the Lab" (with O.Sade and E.Winter), 2020 (Journal of Economic Psychology Vol. 81)
https://doi.org/10.1016/j.joep.2020.102317

11. "The Impact of Protective Mortgage Regulations on Household Borrowing Decisions" (with M. Ofir), 2020 (Studies on Regulation, NEVO - in Hebrew, Vol. 2), 75-95 https://www.nevo.co.il/

10. "By the Light of Day: The Effect of Winter Time Switch on the Stock Markets" (with O.Yidov and Z.Wiener), 2020 – (Journal of International Financial Markets, Institutions & Money Vol. 65)
https://doi.org/10.1016/j.intfin.2020.101197

9. "The Effect of Institutional Investors' Voice on the Terms and Outcome of Freeze-out Tender Offers" (with B.Lauterbach), 2020 – (Quarterly Journal of Finance, Vol. 10)
https://doi.org/10.1142/S2010139220500020

8. "Reservation Prices in Shareholders’ Response to Freeze-out Tender Offers" (with A.Hamdani and B.Lauterbach), 2020 – (Journal of International Financial Markets, Institutions & Money, Vol. 64, 1-10)
https://doi.org/10.1016/j.intfin.2019.101160

7. "Government Guarantees and the Risk-Taking of Financial Institutions: Evidence from a Regulatory Experiment" (with C.Atanasova, M.Li, and M.Rastan), 2019 – (Journal of Asset Management Vol. 20, No. 6, 476–492)  https://link.springer.com/content/pdf/10.1057%2Fs41260-019-00128-2.pdf

6. "On the Failure of Mutual Fund Industry Regulation" (with Y.Hecht, and Z.Wiener), 2019 (Emerging Markets Review Vol. 38, 51-72)
https://doi.org/10.1016/j.ememar.2018.11.010

5. "Mortgage Loans and Bank Risk Taking: Finding the Risk Sweet Spot" (with J. Tzur and A. Jacobi), 2018  (Quarterly Journal of Finance Vol. 8, No. 4)
https://doi.org/10.1142/S2010139218400086

4. "Incentive Fees and Competition in Pension Funds: Evidence from a Regulatory Experiment in Israel" (with E. Kandel, A.Hamdani, and Y.Yafeh), 2017 (Journal of Law, Finance, and Accounting, Vol 2, 49-86) 
http://dx.doi.org/10.1561/108.00000015

3. "How Homeowners Choose between Fixed and Adjustable Rate Mortgages?" (with M. Ofir, and Z. Wiener), 2016 (Quarterly Journal of Finance Vol 6, No 2)
https://doi.org/10.1142/S2010139216500130

2. "Retirement Financial Literacy" (with O. Sade), 2014 (Economic Quarterly - in Hebrew: RivonL'Calcala); Reprinted in English (2017), Israel Economic Review Vol. 14, No. 1 (2016), 75-95
http://www.boi.org.il/en/Research/Periodicals/Documents/vol.14%20no.1%202016/part3.pdf

1. "Long Term Savings Decisions: Financial reform, Peer Effects and Ethnicity" (with O. Sade, and M. Shayo), 2014 (Journal of Economic Behavior & Organization Vol. 106, 235-253)
https://doi.org/10.1016/j.jebo.2014.07.002

WORKING PAPERS

• "How Do Mutual Fund Management Fee Changes Impact Mutual Fund Flows?" (with N.Steinberg)
• "Mergers and Acquisitions Forecasting via Machine Learning: An Analysis of Interlocking Director Networks" (with R.Shamir, Y. Tshuva, L. Muchnik, and Y. Louzoun)
• "Lost in the FOG: Growing Complexity in Financial Reporting – A Comparative Study" (with D.Lesmi, and L.Muchnik) - revised and resubmitted (2nd round)  
• "Herding and Divergent Behaviors in Competition: An Experimental Study" (with E.Winter, and T.Yafeh) - revised and resubmitted (2nd round)   
• "Doyoureadme?? Temporal trends in the linguistic complexity of financial information" (with D.Lesmi, and L.Muchnik) 
• "Poor Choices in Mortgage Decisions: Economically Disadvantaged Populations and The Role of Cognitive Biases" (with M.Ilan) 
• "Holistic Bidding Strategies: Addressing Target Shareholders’ Behavioral Resistance in M&As" (with B. Lauterbach, B. Loriot, and J. Shemesh) - revised and resubmitted (2nd round) 
• "Fusing Identities: The 'I Am The Firm' Phenomenon in Eponymous Enterprises" (with D.Kliger and R.Rooz) - revised and resubmitted  
• "Strategic Commitment to Forgo Information: Evidence from the Lab" (with Em.Kandel and E.Winter) - revised and resubmitted (3d round) 

WHITE PAPERS

• "Behavioral Economics and its Applications to Public Policy" (with E.Winter), 2017 (in Hebrew). Israeli Prime Minister's Office
• "Catch Me if You Can" (with Y. Hecht), 2017. Consumer Financial Fraud (FINRA – Investor Education Foundation)
• "The Wise Salary Slip", 2013 (in Hebrew). State of Israel - Ministry of Finance - The Accountant General