Alexander Ljungqvist
Stockholm School of Economics
142 Papers
1.9K Citations
Alexander Ljungqvist is an academic researcher from Stockholm School of Economics. The author has contributed to research in topics: Initial public offering & Investment banking. The author has an hindex of 59, co-authored 139 publications. Previous affiliations of Alexander Ljungqvist include Research Institute of Industrial Economics & National Bureau of Economic Research.
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Papers
Sharing Risk with the Government: How Taxes Affect Corporate Risk Taking
TL;DR: This article found that risk-taking is sensitive to taxes, albeit asymmetrically: the average firm reduces risk in response to a tax increase (primarily by changing its operating cycle and reducing R&D risk).
Informational Holdup and Performance Persistence in Venture Capital
TL;DR: This article proposed a model of learning that leads to informational holdup, where current investors learn about skill whereas outside investors observe only returns, which gives current investors holdup power when the VC raises his next fund: without their backing, no-one will fund him, as outside investors interpret the lack of backing as a sign of low skill.
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IPO Pricing in the Dot-Com Bubble
TL;DR: The authors showed that the regime shift in initial returns and other elements of pricing behavior can be at least partially accounted for by a variety of marked changes in pre-IPO ownership structure and insider selling behavior over the period which reduced key decision-makers' incentives to control underpricing.
185
Shaping Liquidity: On the Causal Effects of Voluntary Disclosure
Karthik Balakrishnan,Mary Brooke Billings,Bryan T. Kelly,Bryan T. Kelly,Alexander Ljungqvist +4 more
TL;DR: The authors used plausibly exogenous variation in the supply of public information to show that firms actively shape their information environments by voluntarily disclosing more information than regulations mandate and that such efforts improve liquidity.
185
Comparing the Investment Behavior of Public and Private Firms
TL;DR: In this article, the authors evaluate differences in investment behavior between stock market listed and privately held firms in the U.S. using a rich new data source on private firms and suggest that the patterns they document are most consistent with theoretical models emphasizing the role of managerial myopia.