Renjie, R.W. and Verwijmeren, P. (2026). Cross-Extrapolative Beliefs: Evidence from Equity Analysts Management Science, 72(4):3128--3146.
Patrick Verwijmeren
University
Erasmus University Rotterdam
E-mail
Research field
Accounting and Finance
Interests
Corporate Governance, Finance
Website
Key publications
Menkveld, AlbertJ., Dreber, A., Holzmeister, F., Huber, J., Johannesson, M., Kirchler, M., Neususs, S., Razen, M., Weitzel, U., Abad-Diaz, D., Abudy, M., Adrian, T., Ait-Sahalia, Y., Akmansoy, O., Alcock, JamieT., Alexeev, V., Aloosh, A., Amato, L., Amaya, D., Angel, JamesJ., Avetikian, AlejandroT., Bach, A., Baidoo, E., Bakalli, G., Bao, L., Barbon, A., Bashchenko, O., Bindra, ParampreetC., Bjønnes, GeirH., Black, JeffreyR., Black, BernhardS., Bogoev, D., Bohorquez Correa, S., Bondarenko, O., Bos, CharlesS., Bosch-Rosa, C., Bouri, E., Brownlees, C., Calamia, A., Cao, V.N., Capelle-Blancard, G., Capera Romero, LauraM., Mazzola, F., van Dijk, M., Verwijmeren, P., Vogel, S., Wagner, W., van der Wel, M., Yang, A. and Zhou, C. (2024). Nonstandard Errors The Journal of Finance, 79(3):2339--2390.
Veenman, D. and Verwijmeren, P. (2021). The earnings expectations game and the dispersion anomaly Management Science, 68(4):3129--3149.
Adams, RenéeB., Kräussl, R., Navone, M. and Verwijmeren, P. (2021). Gendered Prices Review of Financial Studies, 34(8):3789--3839.
Adams, R., Akyol, A. and Verwijmeren, P. (2018). Director skill sets Journal of Financial Economics, 130(3):641--662.
Grundy, B. and Verwijmeren, P. (2018). The buyers’ perspective on security design: Hedge funds and convertible bond call provisions Journal of Financial Economics, 127(1):77--93.
Siganos, A., Vagenas-Nanos, E. and Verwijmeren, P. (2017). Divergence of sentiment and stock market trading Journal of Banking and Finance, 78(May):130--141.
Korteweg, A., Kraussl, R. and Verwijmeren, P. (2015). Does it pay to invest in art? A selection-corrected returns perspective Review of Financial Studies, 29(4):1007--1038.
Grundy, BruceD. and Verwijmeren, P. (2016). Disappearing Call Delay and Dividend-Protected Convertible Bonds The Journal of Finance, 71(1):195--223.
Brown, S., Grundy, B., Lewis, C. and Verwijmeren, P. (2012). Convertibles and hedge funds as distributors of equity exposure Review of Financial Studies, 25(10):3077--3112.
Duca, E.(., Dutordoir, M.(., Veld, C. and Verwijmeren, P. (2012). Why are convertible bond announcements associated with increasingly negative abnormal stock returns? An arbitrage-based explanation Journal of Banking and Finance, 36(11):2884--2899.
Grundy, B., Lim, B. and Verwijmeren, P. (2012). Do option markets undo restrictions on short sales: evidence from the 2008 short sale ban Journal of Financial Economics, 106(2):331--348.
de Jong, A., Verbeek, M. and Verwijmeren, P. (2011). Firms' debt-equity decisions when the static tradeoff theory and the pecking order theory disagree Journal of Banking and Finance, 35(5):1303--1314.
de Jong, A., Dutordoir, M.(. and Verwijmeren, P. (2011). Why do convertible issuers simultaneously repurchase stock? An arbitrage-based explanation Journal of Financial Economics, 100(1):113--129.
Verwijmeren, P. and Derwall, J. (2010). Employee well-being, leverage, and bankruptcy costs Journal of Banking and Finance, 34(5):956--964.
Publications
Menkveld, AlbertJ., Dreber, A., Holzmeister, F., Huber, J., Johannesson, M., Kirchler, M., Neususs, S., Razen, M., Weitzel, U., Abad-Diaz, D., Abudy, M., Adrian, T., Ait-Sahalia, Y., Akmansoy, O., Alcock, JamieT., Alexeev, V., Aloosh, A., Amato, L., Amaya, D., Angel, JamesJ., Avetikian, AlejandroT., Bach, A., Baidoo, E., Bakalli, G., Bao, L., Barbon, A., Bashchenko, O., Bindra, ParampreetC., Bjønnes, GeirH., Black, JeffreyR., Black, BernhardS., Bogoev, D., Bohorquez Correa, S., Bondarenko, O., Bos, CharlesS., Bosch-Rosa, C., Bouri, E., Brownlees, C., Calamia, A., Cao, V.N., Capelle-Blancard, G., Capera Romero, LauraM., Mazzola, F., van Dijk, M., Verwijmeren, P., Vogel, S., Wagner, W., van der Wel, M., Yang, A. and Zhou, C. (2024). Nonstandard Errors The Journal of Finance, 79(3):2339--2390.
Soebhag, A., Van Vliet, B. and Verwijmeren, P. (2024). Non-standard errors in asset pricing: Mind your sorts Journal of Empirical Finance, 78.
Grundy, BruceD., Verwijmeren, P. and Yang, A. (2024). Intermediary frictions and convertible bond pricing Journal of Financial Intermediation, 58.
van Bekkum, S., Verwijmeren, P. and Grundy, B. (2023). Complementarity of Sovereign and Corporate Debt Issuance: Mind the Gap Review of Finance.
Verwijmeren, P., Wang, R. and Lee, I. (2022). How do options add value? Evidence from the convertible bond market Review of Finance, 27(1):189--222.
Aleksanyan, M., Hao, Z., Vagenas-Nanos, E. and Verwijmeren, P. (2021). Do state visits affect cross-border mergers and acquisitions Journal of Corporate Finance, 66.
Adams, RenéeB., Kräussl, R., Navone, M. and Verwijmeren, P. (2021). Gendered Prices Review of Financial Studies, 34(8):3789--3839.
Dutordoir, M., Vagenas-Nanos, E., Verwijmeren, P. and Wu, B. (2021). A rundown of merger target run-ups Financial Management, 50(2):487--518.
Veenman, D. and Verwijmeren, P. (2021). The earnings expectations game and the dispersion anomaly Management Science, 68(4):3129--3149.
Verwijmeren, P. and Grundy, B. (2020). The external financing of investment Journal of Corporate Finance, 65.
Verwijmeren, P. and Yang, A. (2020). The fluctuating maturities of convertible bonds Journal of Corporate Finance, 62.
Guidi, M., Sogiakas, V., Vagenas-Nanos, E. and Verwijmeren, P. (2020). Spreading the sin: An empirical assessment from corporate takeovers International Review of Financial Analysis, 71.
Adams, R., Akyol, A. and Verwijmeren, P. (2018). Director skill sets Journal of Financial Economics, 130(3):641--662.
Grundy, B. and Verwijmeren, P. (2018). The buyers’ perspective on security design: Hedge funds and convertible bond call provisions Journal of Financial Economics, 127(1):77--93.
Veenman, D. and Verwijmeren, P. (2018). Do investors fully unravel persistent pessimism in analysts' earnings forecasts? The Accounting Review, 93(3):349--377.
Siganos, A., Vagenas-Nanos, E. and Verwijmeren, P. (2017). Divergence of sentiment and stock market trading Journal of Banking and Finance, 78(May):130--141.
Van Marle, M. and Verwijmeren, P. (2017). The long and the short of convertible arbitrage: An empirical examination of arbitrageurs’ holding periods Journal of Empirical Finance, 44(December):237--249.
Berkman, H., McKenzie, M. and Verwijmeren, P. (2017). Hole in the wall: Informed short selling ahead of private placements Review of Finance, 21(3):1047--1091.
Grundy, BruceD. and Verwijmeren, P. (2016). Disappearing Call Delay and Dividend-Protected Convertible Bonds The Journal of Finance, 71(1):195--223.
Duyvesteyn, J., Martens, M. and Verwijmeren, P. (2016). Political risk and expected government bond returns Journal of Empirical Finance, 38:498--512.
Korteweg, A., Kraussl, R. and Verwijmeren, P. (2015). Does it pay to invest in art? A selection-corrected returns perspective Review of Financial Studies, 29(4):1007--1038.
Dutordoir, M.(., Li, E., Liu, F.H. and Verwijmeren, P. (2016). Convertible bond announcement effects: Why is Japan different? Journal of Corporate Finance, 37:76--92.
Lewis, C. and Verwijmeren, P. (2014). Cash-settled convertible bonds and the value relevance of their accounting treatment Journal of Corporate Finance, 24:101--111.
Siganos, A., Vagenas-Nanos, E. and Verwijmeren, P. (2014). Facebook’s daily sentiment and international stock markets Journal of Economic Behavior and Organization, 107(Part B):730--743.
Grundy, B., Veld, C., Verwijmeren, P. and Zabolotnyuk, Y. (2014). Why are conversion-forcing call announcements associated with negative wealth effects? Journal of Corporate Finance, 24:149--157.
Akyol, A. and Verwijmeren, P. (2013). Capital Costs, Firm Leverage, and Unemployment Rates Journal of Financial Intermediation, 22(3):464--481.
de Jong, A., Dutordoir, M.(., Van Geneugten, N. and Verwijmeren, P. (2012). Convertible arbitrage price pressure and short sales constraints Financial Analysts Journal, 68(5):70--88.
Brown, S., Grundy, B., Lewis, C. and Verwijmeren, P. (2012). Convertibles and hedge funds as distributors of equity exposure Review of Financial Studies, 25(10):3077--3112.
de Jong, A., Verbeek, M. and Verwijmeren, P. (2012). Does financial flexibility reduce investment distortions? Journal of Financial Research, 35(2):243--259.
Duca, E.(., Dutordoir, M.(., Veld, C. and Verwijmeren, P. (2012). Why are convertible bond announcements associated with increasingly negative abnormal stock returns? An arbitrage-based explanation Journal of Banking and Finance, 36(11):2884--2899.
Grundy, B., Lim, B. and Verwijmeren, P. (2012). Do option markets undo restrictions on short sales: evidence from the 2008 short sale ban Journal of Financial Economics, 106(2):331--348.
de Jong, A., Verbeek, M. and Verwijmeren, P. (2011). Firms' debt-equity decisions when the static tradeoff theory and the pecking order theory disagree Journal of Banking and Finance, 35(5):1303--1314.
de Jong, A., Dutordoir, M.(. and Verwijmeren, P. (2011). Why do convertible issuers simultaneously repurchase stock? An arbitrage-based explanation Journal of Financial Economics, 100(1):113--129.
Lewis, C. and Verwijmeren, P. (2011). Convertible security design and contract innovation Journal of Corporate Finance, 17(4):809--831.
Jong, A. and Verwijmeren, P. (2010). To have a target debt ratio or not: what difference does it make? Applied Economics, 20(3):219--226.
Verwijmeren, P. and Derwall, J. (2010). Employee well-being, leverage, and bankruptcy costs Journal of Banking and Finance, 34(5):956--964.
De Jong, A., Verbeek, M.J.C.M. and Verwijmeren, P. (2010). The impact of financing surpluses and large financing deficits on tests of the pecking order theory Financial Management, 39(2):733--756.
de Jong, A., Rosellon Cifuentes, M. and Verwijmeren, P. (2006). The economic consequences of IFRS: the impact of IAS 32 on preference shares in the Netherlands European Accounting Review, 15(3):169--185.