Ivo Welch

Distinguished Professor of Finance; J. Fred Weston Chair in Finance

About

Widely regarded as one of the more influential economists of his generation, Ivo Welch has authored numerous publications with far-reaching citation impacts. Known for his work on informational cascades, he has also published work on initial public offerings, capital structure, dividends, market-timing, performance evaluation, earnings management, overconfidence, socially responsible investing and bankruptcy.

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9 Articles

Illustration depicting two paths, the one on the left populated by lots of people and the one on the right by one person. Feature / Behavioral Decision Making

Behind the Paradox of Logical People Ignoring Their Own Insights to Mimic Others

Informational cascades, revealed across three decades of research, compromise the work of corporate managers, surgeons, investors and others

An illustration denoting the political divide in the U.S. with four hands holding ballots on the left with a blue overlay a ballot box in the middle and four hands holding ballots on the right with a red overlay. Research Brief / Politics

A Small Shift in Voter Composition in Primaries Could Push the US Away from Extremism

The centrist-minded are often no-shows when their parties are choosing candidates for general elections

A graph of the U.S. dollar index Research Brief / Currencies

When Exchange Rates Move, U.S. Companies Feel It — Even More Than Previously Thought

Firm-specific export data enables researchers to potentially solve a puzzle in economics

A metal trash can containing four wadded up pieces of paper Research Brief / Investing

46 Possible Stock Market Strategies from Academics Get a Retest

We won’t call it debunking, but not all investing tips hold up

A man using a laptop on his kitchen table Research Brief / Investing

Puncturing the Small-Investors-are-Bad-Investors Narrative

Individuals using the Robinhood trading app appear to beat the market

Illustration of vultures sitting on a sign in a city Research Brief / Debt

Less Leveraged Than the Competition: Ready to Snag Distressed Assets in a Recession

When bad times hit, highly indebted companies often have to sell operations and equipment at fire-sale prices

Stock market ticker displays Feature / Stock Returns

New Appreciation for a Classic Stock Market Gauge

The relationship between short- and longer-term moving averages has strong predictive power for share price returns

Street signs Research Brief / Interest Rates

Are Interest Rates Really So Low?

Adjusting for inflation — and, crucially, for taxes — shows bond investors fare better than they might think

Illustration balance of risk and reward on a scale Research Brief / Stock Returns

The Strange Case of the Missing Stock Market Return

Investors in leveraged companies take on extra risk, but research indicates they see no offsetting return