Gershon N. Mandelker

Katz Alumni Chair Professor Emeritus of Finance and Business Administration

 

Finance
Office: 
350 Mervis Hall
Phone: 
412-977-5199

Degrees

PhD, University of Chicago
MBA, University of Chicago
BA, The Hebrew University of Jerusalem (Majors: Economics and Statistics)

Profile

My research goal is to advance and test theories which explain economic behavior of individuals, firms, and capital markets. This includes issues in corporate financial policy; corporate governance; mergers and acquisitions; management compensation; market microstructure; the behavior of stock prices and bond prices in an efficient market; the relation between accounting measures of income and risk and their financial measures; and the impact of inflation on rates of return of financial assets.

Courses Recently Taught

  • Corporate Finance
  • Creating Value Through Restructuring
  • The Efficiency of Capital Markets
  • Research Methodology in Finance

Some Publications

"Investment Banking: An Economic Analysis of optimal Underwriting Contracts,"(with A. Raviv ), The Journal of Finance, XXXI.

Reprinted in: Financial Intermediaries, Mervin K. Lewis, Critical Writings in Economics, vol. 43. Aldershot, U.K.: Elgar, 1995.

 

"Risk and Return: The Case of Merging Firms," Journal of Financial Economics, December, 1974.

Reprinted in: Modern Developments in Corporate Finance: A Book of Readings, edited by S. C. Myers, (The Dryden Press; Holt, Rinehart and Winston; Hinsdale, Illinois, 1977);

Reprinted in Capital Market Equilibrium Efficiency: Implications for Accounting, Financial and Portfolio Decision-Making, edited by J. L. Bicksler, (Lexington Books, D.C. Heath and Company, 1977);

Reprinted in Economics of Corporation Law and Securities Regulation, R.A. Posner and K.E. Scott, Eds. (Little, Brown and Company, 1980), pp. 197-205;

and in Fiduciary Problems in Acquisitions and Takeovers, L. Herzel and D. E. Colling, Eds. (Practicing Law Institute, NY, 1981), pp. 67-74.

"The Impact of Financial and Operating Leverages on the Systematic Risk of Common Stocks," (with S.G. Rhee), Journal of Financial and Quantitative Analysis, XIX, March 1984, 45-57.

"Managerial Incentives and Corporate Investment and Financing Decisions" (with A. Agrawal) The Journal of Finance, XLII, September 1987, 823-838

"Large Shareholders and the Monitoring of Managers: The Case of Antitakeover Charter Amendments," (with A. Agrawal) Journal of Financial and Quantitative Analysis, XXV, June 1990, 143-162.

"Executive Compensation and Corporate Performance in Electric and Gas Utilities," (with A. Agrawal and A. Makhija), Financial Management, XXI, Winter 1991, 113-124.

"The Post Acquisition Performance of Acquiring Firms in Mergers: A Re-examination of an Anomaly," (with A. Agrawal and J. Jaffe), The Journal of Finance, XLVII, September 1992, 1605-1622.

Reprinted in: Takeovers: a Book of Readings, Volume II, edited by, A. Cosh and A. Hughes, (The International Library of Management; Dartmouth Publishing Company Limited, Ashgate Publishing Limited, 1998)

"The Efficient Markets Hypothesis - An Overview," (with J. Clarke and T. Jandik), in Leading Financial Experts: Investment Strategies from Industry Leaders, R. C. Arrfa, ed. ( John Wiley & Sons, Inc. New York, 2001)

"Bank Monitoring, Firm Performance, and Top Management Turnover in Japan," (C. Anderson, W. Campbell, and J. Narayanan) Advances in Financial Economics, 2003.

Citations

Mandelker's papers have been cited 2846 times, according to Google Scholar, and 801 times, according to The Web of Science, in scholarly journals as of May 27, 2010.

Personal Interests

Reading, Hiking, Chess.