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Assistant Professor of
Finance Email: bendavid@fisher.osu.edu |
PUBLICATIONS
Ben-David, Itzhak, Francesco Franzoni, and Rabih Moussawi, 2012, Hedge Funds Stock Trading during the Financial Crisis
of 2007-2009, Review of
Financial Studies 25, 1-54, Lead Article
Agarwal, Sumit, Gene Amromin, Itzhak Ben-David, Souphala Chomsisengphet,
and Douglas Evanoff, 2011, The Role of Securitization in Mortgage Renegotiation,
Journal of Financial Economics
102(3), 559-578.
Ben-David, Itzhak,
2011, Financial Constraints and Inflated Home Prices during
the Real-Estate Boom, American
Economic Journal: Applied Economics 3(3),
55-78.
- Featured in Stephen Dubner and Steven Levitt, Pay-back Time, Freakonomics column,
New York Times Magazine, 10 June 2007
- Award Winner of BSI Gamma Foundation, Real Estate,
2008
- First Prize Winner
of CQA Academic Competition, 2008
Agarwal, Sumit, Gene Amromin, Itzhak Ben-David, Souphala Chomsisengphet,
and Douglas Evanoff, 2010, Learning to Cope: Voluntary Financial Education Programs
and the Housing Crisis, American Economic Review – Papers and
Proceedings 100(2), 495-500.
WORKING PAPERS
The Financial Crisis
Agarwal, Sumit, Gene Amromin, Itzhak Ben-David, Souphala Chomsisengphet,
and Douglas Evanoff, The Effects of Mandated Financial Counseling on
Household Mortgage Decisions: Evidence from a Natural Experiment,
R&R Journal of Financial Economics
- Grant award from
FDIC
- Paolo Baffi
Fellowship from Bocconi University
- Award from Networks
Financial Institute: Significant and innovative research on financial services
(honorable mention award)
Agarwal, Sumit, Gene Amromin, Itzhak Ben-David, Souphala Chomsisengphet,
and Douglas Evanoff, Market-Based Loss Mitigation Practices for Troubled
Mortgages Following the Financial Crisis, R&R Review of Financial Studies
Ben-David, Itzhak, High
Leverage and Willingness to Pay: Evidence from the Residential Housing Market
Agarwal, Sumit, and Itzhak Ben-David, The Effects of Loan Officers’ Compensation on Loan
Approval and Performance: Direct Evidence from a Corporate Experiment
Agarwal, Sumit, Gene Amromin, Itzhak Ben-David, Souphala Chomsisengphet,
and Yan Zhang, Second Liens and the Holdup Problem in First Mortgage
Renegotiation, Coming soon
Agarwal, Sumit, Gene Amromin, Itzhak Ben-David, Souphala Chomsisengphet,
Tomasz Piskorski, and Amit Seru, Can Government Intervention Improve Market
Outcome? Evidence from Home Affordability Mortgage Program, Coming soon
Agarwal, Sumit, Gene Amromin, Itzhak Ben-David, and Serdar Dinc, The
Political Concerns of Mortgage Servicers and Their Decision to Foreclose, Coming soon
Ben-David, Itzhak, Ajay Palvia, and Chester Spatt, Bank De-Leveraging
and the Limits to Market Discipline, Coming
soon
- Grant award from
GARP Foundation
Limits-to-Arbitrage
Ben-David, Itzhak, John Graham, Cam Harvey, Managerial
Miscalibration, R&R
Quarterly Journal of Economics
- Featured in Richard Thaler’s column, The Overconfidence Problem in Forecasting,
New York Times, 22 August 2010
- Featured in Daniel Kahneman’s book, Thinking, Fast and Slow, 2011
Ben-David, Itzhak, and David Hirshleifer, Are Investors
Really Reluctant to Realize their Losses? Trading Responses to Past Returns and
the Disposition Effect, R&R
Review of Financial Studies
Ben-David, Itzhak, Francesco Franzoni, Augustin Landier, and Rabih
Moussawi, Do Hedge Funds Manipulate Stock Prices?
R&R Journal of Finance
Ben-David, Itzhak, Francesco Franzoni, and Rabih Moussawi, ETFs,
Arbitrage, and Contagion
Ben-David, Itzhak, Denys Glushkov, and Rabih Moussawi, Do Hedge Funds Really Avoid High Idiosyncratic Stocks?
Ben-David, Itzhak, and Darren Roulstone, Idiosyncratic Risk and Corporate Transactions
Ben-David, Itzhak, Michael Drake, and Darren Roulstone, Are Stock Acquirers Overvalued? Identifying Mispricing
Using Short Interest
BOOK CHAPTERS and OTHER PUBLICATIONS
Agarwal, Sumit, Gene
Amromin, Itzhak Ben-David, Souphala Chomsisengphet, and Douglas Evanoff, 2011, Financial Counseling, Financial Literacy, and
Household Decision Making, in Mitchell, O., and A. Lusardi
(eds.), Financial Literacy:
Implications for Retirement Security and the Financial Marketplace, Oxford, UK: Oxford University Press.
Ben-David, Itzhak, 2010, Dividend Policy Decisions, in H. Kent Baker
and John R. Nofsinger (eds.), Behavioral
Finance (Robert W. Kolb Series in Finance), John Wiley & Sons, Inc., New Jersey.
Ben-David, Itzhak, and Jim Schallheim, 2007, The Response to Customer Default: Captive Versus
Non-captive Lessors, Journal of Equipment Lease Financing
25(1), 1-6
- Awarded Equipment Leasing and Finance Foundation
research grant, 2006
Ben-David, Itzhak,
2005, Company Performance and Leased Assets in Sale-and-Leaseback
Transactions, Journal of Equipment Lease Financing 23
(2), 1-8
- Awarded Equipment Leasing and Finance Foundation research
grant, 2005
Ben-David, Itzhak, and Tzvi Raz, 2001, An Integrated Approach for Risk Response Development in
Project Planning, Journal of Operational Research Society 52,
14-25
MEDIA CLIPS
Mandie Trimble, The Rental Market Following the Housing Crisis, WOSU
(NPR; radio interview), 15 February 2012
Jaime Ortega-Simo, Experts ‘like’ Facebook’s Chances in Public Market,
The Lantern, 15 February 2012
WealthAdviser, ETFs, Arbitrage, and Contagion: A Potential Link?
WealthAdviser, 6 February 2012
Daniel Kahneman, Thinking, Fast and Slow, 2011,
Farrar, Straus and Giroux, New York
Jason Zweig, Now That’s Performance Art, Wall Street
Journal: The Intelligent Investor, 24 December 2011
R. Christopher Small, Acquirer Valuation and Acquisition Decisions,
Harvard Law School Forum on Corporate Governance and Financial Regulation, 12
September 2011.
Jeff Grabmeier, Hedge Funds Sold Stocks Quickly During Financial
Crisis, Hurting Mutual Fund Investors, Research News at OSU, 25
August 2011
Gregory Connor, Nama’s Property Price Insurance Scheme,
The Irish Economy, 5 August 2011
Stephanie Taylor Christensen, Seller Add-Ons Contribute to Housing Market Lull,
Study Finds, Minyanville,
26 July 2011
Alex Eichler, Illegal Cash-Back Deals Worsened The Housing Bubble, Drove
Up Foreclosures: Report, Huffington
Post, 15 July 2011
Brian O’Conneell, Mortgage Modification’s Dirty Little Secret,
BankingMyWay.com (TheStreet.com), 8
March 2011
AllAboutAlpha.com, Hedge funds and “stock manipulation”: Perpetrators,
accomplices or just in the wrong place at the wrong time (again)?,
AllAboutAlpha.com, 2 March 2011
Michael Konczai, The Latest on Servicing and Modifications, Washington Post, 10 November 2010
Paul Willen, Securitized mortgage loan or not, lenders are not
restructuring, Real Estate Research blog, Federal Reserve Bank of Atlanta, 20 October 2010
Amy Koehnen, Mortgage Counseling, Plain Language, and Financial
Education: What Works?, Forefront: New Ideas on Economic Policy
from the Federal Reserve Bank of Cleveland, October 2010
R. Christopher Small, Managerial Miscalibration, Harvard Law
School Forum on Corporate Governance and Financial Regulation, September 15,
2010.
Charles Evans, the President and Executive Director of the Federal
Reserve Bank of Chicago, Informing the future of Housing Finance: Lessons from the
Recent Past, Speech delivered before the Indianapolis
Neighborhood Housing Partnership Community Breakfast on August 24, 2010
Richard H. Thaler, The Overconfidence Problem in Forecasting,
New York Times, 22 August 2010
Shefali Anand, Indians are Better than Americans, Wall
Street Journal, India News, 2 July 2010
Charlie Mead, Where Federal Mortgage Program Stalls, Chicago Events Pick
Up Slack, Medill Reports Chicago (Northwestern University), 18
May 2010
AllAboutAlpha.com, Study: Hedge Funds’ Role in 2008 Market Drawdown
“Questionable”, AllAboutAlpha.com,
14 May 2010
New Voices at Fisher: Ben-David on the Mortgage Crisis,
Fisher College Annual Report, September 2009
Zubin Jelveh, Should We Give Financial Advice for the Poor?,
New Republic, 22 April 2009
Steve Wartenberg, President's plan will save homes, advocates say,
Columbus Dispatch, 6 March 2009
Phil Kadner, Southwest Side had early solution to housing crisis,
Chicago Sun-Times, 10 January 2009
Melanie McIntyre, Mortgage Industry More Cautious, but Not Totally Backing
Away From ARMs, The
Daily Reporter, 29 August 2008
James Surowiecki, That Uncertain Feeling, The New Yorker, 1 September 2008
Alan Rappeport, Half Full, and Then Some, CFO.com,
1 May 2008
Stephen Dubner, A Look Back at the Subprime Mess, Freakonomics
blog, 7 April 2008
Matthew Bandyk, Experts? Not in the Stock Market, U.S. News
& World Report, 6 February 2008
Alan Rappeport, Feeling Confident, CFO.com, 31 January 2008
Stephen Dubner and
Steven Levitt, Pay-back Time, Freakonomics column, New York Times
Magazine, 10 June 2007
- Reprinted at the TheMarker Financial Magazine (Hebrew), July
2007
Stephen Dubner and Steven Levitt, Real-Estate Sleight of Hand, Freakonomics
blog, 9 June 2007
ARTICLES and OTHER WORKING PAPERS
Ben-David, Itzhak,
and Yoad Shefi, 2004, The New Education System, 10 November 2004,
Globes (Hebrew)
Ben-David, Itzhak,
and Guy David, 2003, A Pyrrhic Victory - An Economic Analysis of the Corruption
in the Likud Party, 1 January 2003, Globes (Hebrew)
Ben-David, Itzhak,
Gadi Rabinowitz, and Tzvi Raz, Economic Optimization of Project Risk Management Efforts