פרופ' אבנר קלעי

קורות חיים מלאים באנגלית

Capital market Theory and Efficiency, Derivatives and Real Options, Economics of Information, Agency Theory, Optimal Contracting, MicroStructure of Markets, and Corporate Finance. 

• "The Market Value of a Vote: A contingent Claims Approach", Journal of Finance 2014, with Shagun Pant and Ogazun Karakas 
   
• “Ex-Dividend Arbitrage in the Option Markets” Review of Financial Studies, 2010, with Jia Hao and Stewart Mayhew. 
   
• “Detecting Liquidity Traders” Journal of Financial and Quantitative Analysis, 2009, with Avi Wohl. 
   
• “Is Chapter 11 Costly?” Journal of Financial Economics, 2007, with Rajeev Singhal and Liz Tashjian. 
   
• “Measuring Stock Illiquidity: An Investigation of the Demand and the Supply Schedule at the TASE” Journal of Financial Economics, 2004, with Orly Sade and Avi Wohl. 
   
• “How to Value a Lost Opportunity: A Real Option Approach” George Mason Law Review, summer 2003, with Mark Glick 
   
• “Continuous Trading or Call Auctions: Revealed Preferences of Investors at Tel Aviv Stock Exchange” Journal of Finance, 2002, with Li Wei and Avi Wohl. 
   
• “Can Splits Create Market Liquidity? Theory and Evidence” Journal of Financial Markets, 2002, with Ravi Anshuman. 
   
• “The Market for Callable-Convertible Corporate Bonds: Evidence from Japan” Pacific-Basin Finance Journal, (lead article) 2002, with Daniel Griener and Hideaki Kiyoshi Kato 
   
• “Swimming Against the Tides: The Case of Aeroflex Move from Nyse to Nasdaq” Journal of Financial Markets, 2001, with Evgenia Pontniaguina. 
   
• “Dividends and Taxes: A Re-examination” Financial Management, 2000, with Roni Michaely.  

Working Papers 
 

• "The Vanishing Stock Dividends" with Feng Zhang (U of Utah). Presented at IDC (May 2016) and at Tel Aviv University (May 2016). 
   
• "Market Learning about stand-alone value of the Acquirer" with Krisztina Buti (U of Utah) Presented at Tel Aviv University (November 2015), at UNSW (November 2015), Hebrew University (April 2016). 
   
• “Opening Call Auctions in a Specialist Market” with Ekkhart Boehmer, Evgenia Golubeva, and Avi Wohl.  
   
• Some Like it Safe: Agency and Corporate Purchase of Insurance" with Paul Ehling and Shagun Pant. 

Recipient of New York University’s Presidential Fellowship for full-time research during the fall semester of 1982.  

The recipient of the Glucksman Fellowship for research in security markets. 

A Solomon Brothers Fellowship for the academic year of 1986-1987.  

Garn Faculty Scholar, University of Utah, 1989-1999.

Research grant from Sapir Center of Economic Research 1999-2000.  

Member of the review committee of the Swiss National Science Foundation.