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Itay Goldstein
Researcher at University of Pennsylvania
Publications - 160
Citations - 11198
Itay Goldstein is an academic researcher from University of Pennsylvania. The author has contributed to research in topics: Financial market & Market liquidity. The author has an hindex of 47, co-authored 151 publications receiving 9436 citations. Previous affiliations of Itay Goldstein include Duke University.
Papers
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Price Informativeness and Investment Sensitivity to Stock Price
Qi Chen,Itay Goldstein,Wei Jiang +2 more
TL;DR: In this paper, the authors show that two measures of the amount of private information in stock price (price nonsynchronicity and probability of informed trading) have a strong positive effect on the sensitivity of corporate investment to stock price.
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Price Informativeness and Investment Sensitivity to Stock Price
TL;DR: The authors empirically examined the effect of price informativeness on the sensitivity of investment to stock price and found that price non-synchronicity and PIN measures are correlated with sensitivity to stock prices.
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Demand–Deposit Contracts and the Probability of Bank Runs
Itay Goldstein,Ady Pauzner +1 more
TL;DR: In this article, the authors study the probability of panic-based bank runs and derive conditions under which banks increase welfare overall and construct a demand-deposit contract that trades off the benefits from liquidity against the costs of runs.
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Payoff complementarities and financial fragility: Evidence from mutual fund outflows $
Qi Chen,Itay Goldstein,Wei Jiang +2 more
TL;DR: In this paper, the authors provide empirical evidence that strategic complementarities among investors generate fragility in financial markets, and find that funds with illiquid assets exhibit stronger sensitivity of outflows to bad past performance than funds with liquid assets.
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Manipulation and the Allocational Role of Prices
Itay Goldstein,Alexander Guembel +1 more
TL;DR: This article showed that trading without information is profitable only with sell orders, driving a wedge between the allocational implications of buyer and seller initiated speculation, and providing justification for restrictions on short sales.