Publications

1991
Shleifer, Andrei, and Robert W Vishny. 1991. “Reversing the Soviet Economic Collapse.” Brookings Papers on Economic Activity 22 (2): 341-367.
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Shleifer, Andrei, and Robert W Vishny. 1991. “Takeovers in the '60s and the '80s: Evidence and Implications.” Strategic Management Journal December (12): 51-59.
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Lakonishok, Josef, Andrei Shleifer, Richard H Thaler, and Robert W Vishny. 1991. “Window Dressing by Pension Fund Managers.” American Economic Review Papers and Proceedings May.
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DeLong, J.Bradford, and Andrei Shleifer. 1991. “The Bubble of 1929: Evidence from Closed-End Funds.” Journal of Economic History 51 (3): 675-700.
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Lee, Charles MC, Andrei Shleifer, and Richard H Thaler. 1991. “Investor Sentiment and the Closed-End Fund Puzzle.” Journal of Finance 46 (1): 75-109.
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DeLong, J.Bradford, Andrei Shleifer, Lawrence H Summers, and Robert Waldmann. 1991. “The Survival of Noise Traders in Financial Markets.” Journal of Business 64 (1): 1-19.
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Murphy, Kevin. M, Andrei Shleifer, and Robert W Vishny. 1991. “The Allocation of Talent: Implications for Growth.” Quarterly Journal of Economics 106 (2): 503-530.
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1990
Shleifer, Andrei. 1990. “Externalidades como motor do crescimento.” R. Bras. Econ. 44 (3): 297-310. Website
Pontiff, Jeffrey, Andrei Shleifer, and Michael S Weisbach. 1990. “Reversions of Excess Pension Assets after Takeovers.” Rand Journal of Economics 21 (4): 600-613.
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Morck, Randall, Andrei Shleifer, and Robert W Vishny. 1990. “The Stock Market and Investment: Is the Market a Sideshow?” Brookings Papers on Economic Activity 21 (2): 157-216.
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Lee, Charles MC, Andrei Shleifer, and Richard H Thaler. 1990. “Closed End Mutual Funds.” Journal of Economic Perspectives 4 (4): 153-164.
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Shleifer, Andrei, and Robert W Vishny. 1990. “The Takeover Wave of the 1980s.” Journal of Applied Corporate Finance 4 (3): 49-56. Website
Shleifer, Andrei, and Robert W Vishny. 1990. “Equilibrium Short Horizons of Investors and Firms.” American Economic Review Papers and Proceedings 80 (2): 148-153.
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Bhagat, Sanjai, Andrei Shleifer, and Robert W Vishny. 1990. “Hostile Takeovers in the 1980s: The Return to Corporate Specialization.” Brookings Papers on Economic Activity: Microeconomics.
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Morck, Randall, Andrei Shleifer, and Robert W Vishny. 1990. “Do Managerial Objectives Drive Bad Acquisitions?” Journal of Finance 45 (1): 31-48.
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Shleifer, Andrei, and Lawrence H Summers. 1990. “The Noise Trader Approach to Finance.” Journal of Economic Perspectives 4 (2): 19-33.
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DeLong, J.Bradford, Andrei Shleifer, Lawrence H Summers, and Robert J Waldmann. 1990. “Positive Feedback Investment Strategies and Destabilizing Rational Speculation.” Journal of Finance 45 (2): 379-395.
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Jaffee, Dwight, and Andrei Shleifer. 1990. “Costs of Financial Distress, Delayed Calls of Convertible Bonds, and the Role of Investment Banks.” Journal of Business: Merton Miller Conference January.
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1989
Shleifer, Andrei, and Robert W Vishny. 1989. “Managerial Entrenchment: The Case of Manager-Specific Investments.” Journal of Financial Economics 25 (1): 123-139. Abstract

We describe how managers can entrench themselves by making manager-specific investments that make it costly for shareholders to replace them. By making manager-specific investments. managers can reduce the probability of being replaced extract higher wages and larger perquisites from shareholders. and obtain more latitude in determining corporate strategy. Our model of entrenchment has empirical implications that are consistent with the evidence on managerial behavior.

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Murphy, Kevin M, Andrei Shleifer, and Robert W Vishny. 1989. “Building Blocks of Market Clearing Business Cycle Models.” NBER Macroeconomics Annual 4: 247-287.
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