Professor Patrick Verwijmeren

  • Research Professor in Accounting and Finance (Accounting & Finance)

email: Patrick.Verwijmeren@glasgow.ac.uk

Gilbert Scott Building, University Avenue, Glasgow G12 8QQ

Import to contacts

ORCID iDhttps://orcid.org/0000-0002-1437-0665

Biography

Patrick Verwijmeren is a part-time Research Professor at the University of Glasgow Adam Smith Business School. He is also a Professor at the Erasmus School of Economics. Before moving to Erasmus, Patrick was with VU University Amsterdam and the University of Melbourne, which he still frequently visits.

Patrick has publications in the Journal of Finance, Review of Financial Studies, Journal of Financial Economics, and The Accounting Review, among others. He has presented at many international conferences, including the WFA, AFA, and EFA meetings, and has been a speaker at TEDx twice.

His research specialises in capital structure, corporate governance and art. His research on proxy access has been cited in final rulings by the US Securities and Exchange Commission, and Patrick has been involved in writing a report for the Dutch Ministry of Finance on the influence of hedge funds. His research on art featured in Forbes Magazine and the Wall Street Journal.

Research interests

Patrick is a member of the Finance research cluster.

Areas of expertise:

  • Finance
  • Corporate finance
  • Convertibles
  • Art
  • Corporate governance

Publications

List by: Type | Date

Jump to: 2022 | 2021 | 2020 | 2018 | 2017 | 2016 | 2014 | 2013 | 2012 | 2011 | 2010 | 2006
Number of items: 37.

2022

Veenman, D. and Verwijmeren, P. (2022) The earnings expectations game and the dispersion anomaly. Management Science, 68(4), pp. 3129-3149. (doi: 10.1287/mnsc.2021.3983)

2021

Adams, R. B., Kräussl, R., Navone, M. and Verwijmeren, P. (2021) Gendered prices. Review of Financial Studies, 34(8), pp. 3789-3839. (doi: 10.1093/rfs/hhab046)

Dutordoir, M., Vagenas-Nanos, E. , Verwijmeren, P. and Wu, B. (2021) A rundown of merger target run-ups. Financial Management, 50(2), pp. 487-518. (doi: 10.1111/fima.12331)

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, 101800. (doi: 10.1016/j.jcorpfin.2020.101800)

2020

Grundy, B. D. and Verwijmeren, P. (2020) The external financing of investment. Journal of Corporate Finance, 65, 101745. (doi: 10.1016/j.jcorpfin.2020.101745)

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, 101535. (doi: 10.1016/j.irfa.2020.101535)

2018

Adams, R. B., Akyol, A. C. and Verwijmeren, P. (2018) Director skill sets. Journal of Financial Economics, 130(3), pp. 641-662. (doi: 10.1016/j.jfineco.2018.04.010)

Veenman, D. and Verwijmeren, P. (2018) Do investors fully unravel persistent pessimism in analysts' earnings forecasts? Accounting Review, 93(3), pp. 349-377. (doi: 10.2308/accr-51864)

Grundy, B. D. and Verwijmeren, P. (2018) The buyers’ perspective on security design: Hedge funds and convertible bond call provisions. Journal of Financial Economics, 127(1), pp. 77-93. (doi: 10.1016/j.jfineco.2017.11.003)

2017

Akyol, A. C., Raff, K. and Verwijmeren, P. (2017) The elimination of broker voting in director elections. Finance Research Letters, 21, pp. 34-39. (doi: 10.1016/j.frl.2017.02.001)

Berkman, H., McKenzie, M. D. and Verwijmeren, P. (2017) Hole in the wall: informed short selling ahead of private placements. Review of Finance, 21(3), pp. 1047-1091. (doi: 10.1093/rof/rfw036)

Siganos, A. , Vagenas-Nanos, E. and Verwijmeren, P. (2017) Divergence of sentiment and stock market trading. Journal of Banking and Finance, 78, pp. 130-141. (doi: 10.1016/j.jbankfin.2017.02.005)

2016

Duyvesteyn, J. G., Martens, M. and Verwijmeren, P. (2016) Political risk and expected government bond returns. Journal of Empirical Finance, 38(Pt. A), pp. 498-512. (doi: 10.1016/j.jempfin.2016.01.016)

Korteweg, A., Kräussl, R. and Verwijmeren, P. (2016) Does it pay to invest in art? A selection-corrected returns perspective. Review of Financial Studies, 29(4), pp. 1007-1038. (doi: 10.1093/rfs/hhv062)

Dutordoir, M., Li, H., Liu, F. H. and Verwijmeren, P. (2016) Convertible bond announcement effects: why is Japan different? Journal of Corporate Finance, 37, pp. 76-92. (doi: 10.1016/j.jcorpfin.2015.12.006)

Grundy, B. D. and Verwijmeren, P. (2016) Disappearing call delay and dividend-protected convertible bonds. Journal of Finance, 71(1), pp. 195-224. (doi: 10.1111/jofi.12363)

2014

Siganos, A. , Vagenas-Nanos, E. and Verwijmeren, P. (2014) Facebook's daily sentiment and international stock markets. Journal of Economic Behavior and Organization, 107(B), pp. 730-743. (doi: 10.1016/j.jebo.2014.06.004)

Grundy, B. D., Veld, C., Verwijmeren, P. and Zabolotnyuk, Y. (2014) Why are conversion-forcing call announcements associated with negative wealth effects? Journal of Corporate Finance, 24, pp. 149-157. (doi: 10.1016/j.jcorpfin.2013.10.003)

Lewis, C. and Verwijmeren, P. (2014) Cash-settled convertible bonds and the value relevance of their accounting treatment. Journal of Corporate Finance, 24, pp. 101-111. (doi: 10.1016/j.jcorpfin.2013.06.003)

2013

Akyol, A.C. and Verwijmeren, P. (2013) Human capital costs, firm leverage, and unemployment rates. Journal of Financial Intermediation, 22(3), pp. 464-481. (doi: 10.1016/j.jfi.2013.04.003)

Brown, S.J., Grundy, B.D., Lewis, C.M. and Verwijmeren, P. (2013) Hedge fund involvement in convertible securities. Journal of Applied Corporate Finance, 25(4), pp. 60-73. (doi: 10.1111/jacf.12043)

2012

Duca, E., Dutordoir, M., Veld, C. and Verwijmeren, P. (2012) Why are convertible bond announcements associated with increasingly negative issuer stock returns? An arbitrage-based explanation. Journal of Banking and Finance, 36(11), pp. 2884-2899. (doi: 10.1016/j.jbankfin.2012.03.019)

Grundy, B.D., 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), pp. 331-348. (doi: 10.1016/j.jfineco.2012.05.013)

Akyol, A.C., Lim, W.F. and Verwijmeren, P. (2012) Shareholders in the boardroom: Wealth effects of the SEC’s proposal to facilitate director nominations. Journal of Financial and Quantitative Analysis, 47(5), pp. 1029-1057. (doi: 10.1017/S0022109012000373)

Akyol, A., Lim, W.F. and Verwijmeren, P. (2012) Governance characteristics and the market reaction to the SEC's proxy access rule. International Review of Finance, 12(2), pp. 175-195. (doi: 10.1111/j.1468-2443.2011.01134.x)

Brown, S.J., Grundy, B.D., Lewis, C.M. and Verwijmeren, P. (2012) Convertibles and hedge funds as distributors of equity exposure. Review of Financial Studies, 25(10), pp. 3077-3112. (doi: 10.1093/rfs/hhs088)

de Jong, A., Dutordoir, M., van Genuchten, N. and Verwijmeren, P. (2012) Convertible arbitrage price pressure and short-sale constraints. Financial Analysts Journal, 68(5), pp. 70-88. (doi: 10.2469/faj.v68.n5.4)

de Jong, A., Verbeek, M. and Verwijmeren, P. (2012) Does financial flexibility reduce investment distortions? Journal of Financial Research, 35(2), pp. 243-259. (doi: 10.1111/j.1475-6803.2012.01316.x)

2011

de Jong, A., Jiang, T. and Verwijmeren, P. (2011) Strategic debt in vertical relations: evidence from franchising. Journal of Retailing, 87(3), pp. 381-392. (doi: 10.1016/j.jretai.2010.12.002)

Lewis, C.M. and Verwijmeren, P. (2011) Convertible security design and contract innovation. Journal of Corporate Finance, 17(4), pp. 809-831. (doi: 10.1016/j.jcorpfin.2011.03.001)

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), pp. 1303-1314. (doi: 10.1016/j.jbankfin.2010.10.006)

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), pp. 113-129. (doi: 10.1016/j.jfineco.2010.10.016)

2010

Jennen, M. and Verwijmeren, P. (2010) Agglomeration effects and firm performance. Urban Studies, 47(12), pp. 2683-2703. (doi: 10.1177/0042098010363495)

Verwijmeren, P. and Derwall, J. (2010) Employee well-being, firm leverage and bankruptcy risk. Journal of Banking and Finance, 34(5), pp. 956-964. (doi: 10.1016/j.jbankfin.2009.10.006)

de Jong, A., Verbeek, M. and Verwijmeren, P. (2010) The impact of financancing surpluses and large financing deficits on tests of the pecking order theory. Financial Management, 39(2), pp. 733-756. (doi: 10.1111/j.1755-053X.2010.01090.x)

de Jong, A. and Verwijmeren, P. (2010) To have target debt ratio or not: what difference does it make? Applied Financial Economics, 20(3), pp. 219-226. (doi: 10.1080/09603100903282671)

2006

de Jong, A., Rosellon, M. and Verwijmeren, P. (2006) The economic consequenses of IFRS: the impact of IAS 32 on preference shares in the Netherlands. European Accounting Review, 15(S3), pp. 169-185. (doi: 10.1080/09638180600920350)

This list was generated on Thu Apr 18 09:48:22 2024 BST.
Jump to: Articles
Number of items: 37.

Articles

Veenman, D. and Verwijmeren, P. (2022) The earnings expectations game and the dispersion anomaly. Management Science, 68(4), pp. 3129-3149. (doi: 10.1287/mnsc.2021.3983)

Adams, R. B., Kräussl, R., Navone, M. and Verwijmeren, P. (2021) Gendered prices. Review of Financial Studies, 34(8), pp. 3789-3839. (doi: 10.1093/rfs/hhab046)

Dutordoir, M., Vagenas-Nanos, E. , Verwijmeren, P. and Wu, B. (2021) A rundown of merger target run-ups. Financial Management, 50(2), pp. 487-518. (doi: 10.1111/fima.12331)

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, 101800. (doi: 10.1016/j.jcorpfin.2020.101800)

Grundy, B. D. and Verwijmeren, P. (2020) The external financing of investment. Journal of Corporate Finance, 65, 101745. (doi: 10.1016/j.jcorpfin.2020.101745)

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, 101535. (doi: 10.1016/j.irfa.2020.101535)

Adams, R. B., Akyol, A. C. and Verwijmeren, P. (2018) Director skill sets. Journal of Financial Economics, 130(3), pp. 641-662. (doi: 10.1016/j.jfineco.2018.04.010)

Veenman, D. and Verwijmeren, P. (2018) Do investors fully unravel persistent pessimism in analysts' earnings forecasts? Accounting Review, 93(3), pp. 349-377. (doi: 10.2308/accr-51864)

Grundy, B. D. and Verwijmeren, P. (2018) The buyers’ perspective on security design: Hedge funds and convertible bond call provisions. Journal of Financial Economics, 127(1), pp. 77-93. (doi: 10.1016/j.jfineco.2017.11.003)

Akyol, A. C., Raff, K. and Verwijmeren, P. (2017) The elimination of broker voting in director elections. Finance Research Letters, 21, pp. 34-39. (doi: 10.1016/j.frl.2017.02.001)

Berkman, H., McKenzie, M. D. and Verwijmeren, P. (2017) Hole in the wall: informed short selling ahead of private placements. Review of Finance, 21(3), pp. 1047-1091. (doi: 10.1093/rof/rfw036)

Siganos, A. , Vagenas-Nanos, E. and Verwijmeren, P. (2017) Divergence of sentiment and stock market trading. Journal of Banking and Finance, 78, pp. 130-141. (doi: 10.1016/j.jbankfin.2017.02.005)

Duyvesteyn, J. G., Martens, M. and Verwijmeren, P. (2016) Political risk and expected government bond returns. Journal of Empirical Finance, 38(Pt. A), pp. 498-512. (doi: 10.1016/j.jempfin.2016.01.016)

Korteweg, A., Kräussl, R. and Verwijmeren, P. (2016) Does it pay to invest in art? A selection-corrected returns perspective. Review of Financial Studies, 29(4), pp. 1007-1038. (doi: 10.1093/rfs/hhv062)

Dutordoir, M., Li, H., Liu, F. H. and Verwijmeren, P. (2016) Convertible bond announcement effects: why is Japan different? Journal of Corporate Finance, 37, pp. 76-92. (doi: 10.1016/j.jcorpfin.2015.12.006)

Grundy, B. D. and Verwijmeren, P. (2016) Disappearing call delay and dividend-protected convertible bonds. Journal of Finance, 71(1), pp. 195-224. (doi: 10.1111/jofi.12363)

Siganos, A. , Vagenas-Nanos, E. and Verwijmeren, P. (2014) Facebook's daily sentiment and international stock markets. Journal of Economic Behavior and Organization, 107(B), pp. 730-743. (doi: 10.1016/j.jebo.2014.06.004)

Grundy, B. D., Veld, C., Verwijmeren, P. and Zabolotnyuk, Y. (2014) Why are conversion-forcing call announcements associated with negative wealth effects? Journal of Corporate Finance, 24, pp. 149-157. (doi: 10.1016/j.jcorpfin.2013.10.003)

Lewis, C. and Verwijmeren, P. (2014) Cash-settled convertible bonds and the value relevance of their accounting treatment. Journal of Corporate Finance, 24, pp. 101-111. (doi: 10.1016/j.jcorpfin.2013.06.003)

Akyol, A.C. and Verwijmeren, P. (2013) Human capital costs, firm leverage, and unemployment rates. Journal of Financial Intermediation, 22(3), pp. 464-481. (doi: 10.1016/j.jfi.2013.04.003)

Brown, S.J., Grundy, B.D., Lewis, C.M. and Verwijmeren, P. (2013) Hedge fund involvement in convertible securities. Journal of Applied Corporate Finance, 25(4), pp. 60-73. (doi: 10.1111/jacf.12043)

Duca, E., Dutordoir, M., Veld, C. and Verwijmeren, P. (2012) Why are convertible bond announcements associated with increasingly negative issuer stock returns? An arbitrage-based explanation. Journal of Banking and Finance, 36(11), pp. 2884-2899. (doi: 10.1016/j.jbankfin.2012.03.019)

Grundy, B.D., 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), pp. 331-348. (doi: 10.1016/j.jfineco.2012.05.013)

Akyol, A.C., Lim, W.F. and Verwijmeren, P. (2012) Shareholders in the boardroom: Wealth effects of the SEC’s proposal to facilitate director nominations. Journal of Financial and Quantitative Analysis, 47(5), pp. 1029-1057. (doi: 10.1017/S0022109012000373)

Akyol, A., Lim, W.F. and Verwijmeren, P. (2012) Governance characteristics and the market reaction to the SEC's proxy access rule. International Review of Finance, 12(2), pp. 175-195. (doi: 10.1111/j.1468-2443.2011.01134.x)

Brown, S.J., Grundy, B.D., Lewis, C.M. and Verwijmeren, P. (2012) Convertibles and hedge funds as distributors of equity exposure. Review of Financial Studies, 25(10), pp. 3077-3112. (doi: 10.1093/rfs/hhs088)

de Jong, A., Dutordoir, M., van Genuchten, N. and Verwijmeren, P. (2012) Convertible arbitrage price pressure and short-sale constraints. Financial Analysts Journal, 68(5), pp. 70-88. (doi: 10.2469/faj.v68.n5.4)

de Jong, A., Verbeek, M. and Verwijmeren, P. (2012) Does financial flexibility reduce investment distortions? Journal of Financial Research, 35(2), pp. 243-259. (doi: 10.1111/j.1475-6803.2012.01316.x)

de Jong, A., Jiang, T. and Verwijmeren, P. (2011) Strategic debt in vertical relations: evidence from franchising. Journal of Retailing, 87(3), pp. 381-392. (doi: 10.1016/j.jretai.2010.12.002)

Lewis, C.M. and Verwijmeren, P. (2011) Convertible security design and contract innovation. Journal of Corporate Finance, 17(4), pp. 809-831. (doi: 10.1016/j.jcorpfin.2011.03.001)

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), pp. 1303-1314. (doi: 10.1016/j.jbankfin.2010.10.006)

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), pp. 113-129. (doi: 10.1016/j.jfineco.2010.10.016)

Jennen, M. and Verwijmeren, P. (2010) Agglomeration effects and firm performance. Urban Studies, 47(12), pp. 2683-2703. (doi: 10.1177/0042098010363495)

Verwijmeren, P. and Derwall, J. (2010) Employee well-being, firm leverage and bankruptcy risk. Journal of Banking and Finance, 34(5), pp. 956-964. (doi: 10.1016/j.jbankfin.2009.10.006)

de Jong, A., Verbeek, M. and Verwijmeren, P. (2010) The impact of financancing surpluses and large financing deficits on tests of the pecking order theory. Financial Management, 39(2), pp. 733-756. (doi: 10.1111/j.1755-053X.2010.01090.x)

de Jong, A. and Verwijmeren, P. (2010) To have target debt ratio or not: what difference does it make? Applied Financial Economics, 20(3), pp. 219-226. (doi: 10.1080/09603100903282671)

de Jong, A., Rosellon, M. and Verwijmeren, P. (2006) The economic consequenses of IFRS: the impact of IAS 32 on preference shares in the Netherlands. European Accounting Review, 15(S3), pp. 169-185. (doi: 10.1080/09638180600920350)

This list was generated on Thu Apr 18 09:48:22 2024 BST.

Grants

  • Vidi Grant, on the project “Forensic Finance”, 2013-2018, Award EUR €800,000
  • ARC Grant, with Balachandran et al, 2014-2016,  Award AUD $180,000
  • Research Excellence Initiative Grant, together with Dick van Dijk, Award EUR €2,000,000
  • Faculty Research Grant, on the project: “Matching sources and uses of funds”, University of Melbourne, 2010, Award AUD $12,837
  • Melbourne Early Career Researcher Grant 2010, on the project: “Patterns in demand for speculation and insurance in options markets”, Award AUD $20,017
  • Faculty Research Grant, on the project: “The effects of hedge funds on security design and shareholder wealth”, University of Melbourne, 2008, Award AUD $9,000

Supervision

Teaching

  • Advanced Corporate Finance and Governance, Erasmus School of Economics, 2013
  • Advanced Corporate Finance: Empirical Corporate Finance, Erasmus School of Economics, 2013
  • Guest speaker at ERIM PhD seminar in Corporate Finance, RSM Erasmus University, 2012
  • Empirical Corporate Finance, Mphil and PhD, Tinbergen Institute, 2012, 2013
  • Research Project 4.3, MSc programme, VU University Amsterdam, 2011 and 2012
  • Corporate Finance 3.2, BSc programme, VU University Amsterdam, 2010 and 2011 
  • Financial Decision Making, Postgraduate, University of Melbourne, 2010
  • Corporate Financial Policy, Postgraduate, University of Melbourne, 2010
  • Financial Planning and Advising, Postgraduate, University of Melbourne, 2009
  • Advanced Corporate Finance, Honours, University of Melbourne, 2009 and 2011, 2012, 2013
  • Financial Management, Postgraduate, University of Melbourne, both in 2008 and 2009
  • Corporate Finance, BSc programme, RSM Erasmus University, both in 2007 and 2008
  • Corporate Finance II, MSc programme, RSM Erasmus University, both in 2006 and 2007
  • Financial processes (Teaching Assistant), BSc programme, Erasmus University Rotterdam, 2002
  • Operations research and modelbouw (Teaching Assistant), BSc programme, Erasmus University

Verwijmeren