prof.dr.

(Patrick) P Verwijmeren

Profile

Patrick Verwijmeren is a Professor of Corporate Finance at the Erasmus School of Economics (Erasmus University Rotterdam). Patrick specializes in convertible securities, short sales, corporate governance, and capital structure. You can find more information on his personal website: https://sites.google.com/site/patrickverwijmeren/ 
He has publications in Journal of Finance, Review of Financial Studies, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, and Review of Finance, among others. Patrick has presented at many international conferences, including the WFA, AFA, and EFA meetings, and has been a speaker at TEDx. His research on proxy access has been cited in final rulings by the U.S. Securities and Exchange Commission and Patrick has also been involved in writing a report for the Dutch Ministry of Finance on the influence of hedge funds. In 2013, Patrick received the prestigious Netherlands Organization for Scientific Research VIDI grant.

• Featured publications (6)

  • B. Grundy & P. Verwijmeren (2018). The buyers’ perspective on security design: Hedge funds and convertible bond call provisions. Journal of Financial Economics, 127 (1), 77-93. doi: 10.1016/j.jfineco.2017.11.003
  • A. Korteweg, R. Kraussl & P. Verwijmeren (2016). Does it pay to invest in art? A selection-corrected returns perspective. The Review of Financial Studies, 29 (4), 1007-1038. doi: 10.1093/rfs/hhv062
  • B. Grundy & P. Verwijmeren (2016). Disappearing Call Delay and Dividend-Protected Convertible Bonds. The Journal of Finance, 71 (1), 195-223. doi: 10.1111/jofi.12363
  • S. Brown, B. Grundy, C. Lewis & P. Verwijmeren (2012). Convertibles and hedge funds as distributors of equity exposure. The Review of Financial Studies, 25 (10), 3077-3112. doi: 10.1093/rfs/hhs088
  • B. Grundy, B. Lim & P. Verwijmeren (2012). Do option markets undo restrictions on short sales: evidence from the 2008 short sale ban. Journal of Financial Economics, 106 (2), 331-348. doi: 10.1016/j.jfineco.2012.05.013
  • A. de Jong, M.D.R.P. Dutordoir & P. Verwijmeren (2011). Why do convertible issuers simultaneously repurchase stock? An arbitrage-based explanation. Journal of Financial Economics, 100 (1), 113-129. doi: 10.1016/j.jfineco.2010.10.016

• All publications (58)

  • Key publication (6)

    • B. Grundy & P. Verwijmeren (2018). The buyers’ perspective on security design: Hedge funds and convertible bond call provisions. Journal of Financial Economics, 127 (1), 77-93. doi: 10.1016/j.jfineco.2017.11.003
    • A. Korteweg, R. Kraussl & P. Verwijmeren (2016). Does it pay to invest in art? A selection-corrected returns perspective. The Review of Financial Studies, 29 (4), 1007-1038. doi: 10.1093/rfs/hhv062
    • B. Grundy & P. Verwijmeren (2016). Disappearing Call Delay and Dividend-Protected Convertible Bonds. The Journal of Finance, 71 (1), 195-223. doi: 10.1111/jofi.12363
    • S. Brown, B. Grundy, C. Lewis & P. Verwijmeren (2012). Convertibles and hedge funds as distributors of equity exposure. The Review of Financial Studies, 25 (10), 3077-3112. doi: 10.1093/rfs/hhs088
    • B. Grundy, B. Lim & P. Verwijmeren (2012). Do option markets undo restrictions on short sales: evidence from the 2008 short sale ban. Journal of Financial Economics, 106 (2), 331-348. doi: 10.1016/j.jfineco.2012.05.013
    • A. de Jong, M.D.R.P. Dutordoir & P. Verwijmeren (2011). Why do convertible issuers simultaneously repurchase stock? An arbitrage-based explanation. Journal of Financial Economics, 100 (1), 113-129. doi: 10.1016/j.jfineco.2010.10.016

  • Article (46)

    • Scholarly Publication (44)

      • D. Veenman & P. Verwijmeren (2021). The earnings expectations game and the dispersion anomaly. Management Science, Accepted.
      • P. Verwijmeren & A. Yang (2020). The fluctuating maturities of convertible bonds. Journal of Corporate Finance, Accepted. doi: 10.1016/j.jcorpfin.2020.101576
      • P. Verwijmeren & B. Grundy (2020). The external financing of investment. Journal of Corporate Finance, 65:101745. doi: 10.1016/j.jcorpfin.2020.101745
      • R. Adams, R. Kraussl, M. Navone & P. Verwijmeren (2020). Gendered prices. The Review of Financial Studies, Accepted.
      • M. Aleksanyan, Z. Hao, E. Vagenas-Nanos & P. Verwijmeren (2020). Do state visits affect cross-border mergers and acquisitions. Journal of Corporate Finance, Accepted.
      • M. Dutordoir, E. Vagenas-Nanos, P. Verwijmeren & B. Wu (2020). A rundown of merger runups. Financial Management - FM, Accepted. doi: 10.1111/fima.12331
      • M. Guidi, V. Sogiakas, E. Vagenas-Nanos & P. Verwijmeren (2020). Spreading the sin: An empirical assessment from corporate takeovers. International Review of Financial Analysis, Accepted. doi: 10.1016/j.irfa.2020.101535
      • R. Adams, A. Akyol & P. Verwijmeren (2018). Director skill sets. Journal of Financial Economics, 130 (3), 641-662. doi: 10.1016/j.jfineco.2018.04.010
      • B. Grundy & P. Verwijmeren (2018). The buyers’ perspective on security design: Hedge funds and convertible bond call provisions. Journal of Financial Economics, 127 (1), 77-93. doi: 10.1016/j.jfineco.2017.11.003
      • C. Veld, P. Verwijmeren & Y. Zabolotnyuk (2018). Wealth effects of seasoned equity offerings: A meta-analysis. International Review of Finance, Accepted. doi: 10.1111/irfi.12218
      • P. Verwijmeren & R. Wang (2018). Director attention and firm value. Financial Management - FM, accepted. doi: 10.2139/ssrn.2990292
      • D. Veenman & P. Verwijmeren (2018). Do investors fully unravel persistent pessimism in analysts' earnings forecasts? The Accounting Review, 93 (3), 349-377. doi: 10.2308/accr-51864
      • A. Akyol, K. Raff & P. Verwijmeren (2017). The elimination of broker voting in director elections. Finance Research Letters, 21 (May), 34-39. doi: 10.1016/j.frl.2017.02.001
      • A. Siganos, E. Vagenas-Nanos & P. Verwijmeren (2017). Divergence of sentiment and stock market trading. Journal of Banking and Finance, 78 (May), 130-141. doi: 10.1016/j.jbankfin.2017.02.005
      • M. Van Marle & P. Verwijmeren (2017). The long and the short of convertible arbitrage: An empirical examination of arbitrageurs’ holding periods. Journal of Empirical Finance, 44 (December), 237-249. doi: 10.1016/j.jempfin.2017.09.001
      • H. Berkman, M. McKenzie & P. Verwijmeren (2017). Hole in the wall: Informed short selling ahead of private placements. Review of Finance, 21 (3), 1047-1091. doi: 10.1093/rof/rfw036
      • J.G. Duyvesteyn, M.P.E. Martens & P. Verwijmeren (2016). Political risk and expected government bond returns. Journal of Empirical Finance, 38, 498-512. doi: 10.1016/j.jempfin.2016.01.016
      • A. Korteweg, R. Kraussl & P. Verwijmeren (2016). Does it pay to invest in art? A selection-corrected returns perspective. The Review of Financial Studies, 29 (4), 1007-1038. doi: 10.1093/rfs/hhv062
      • B. Grundy & P. Verwijmeren (2016). Disappearing Call Delay and Dividend-Protected Convertible Bonds. The Journal of Finance, 71 (1), 195-223. doi: 10.1111/jofi.12363
      • M.D.R.P. Dutordoir, E. Li, F. Liu & P. Verwijmeren (2016). Convertible bond announcement effects: Why is Japan different? Journal of Corporate Finance, 37, 76-92. doi: 10.1016/j.jcorpfin.2015.12.006
      • P. Verwijmeren (2015). Forensisch financieel onderzoek. MAB, 89 (4), 149-154.
      • A. Siganos, E. Vagenas-Nanos & P. Verwijmeren (2014). Facebook’s daily sentiment and international stock markets. Journal of Economic Behavior and Organization, 107 (Part B), 730-743. doi: 10.1016/j.jebo.2014.06.004
      • B. Grundy, C. Veld, P. Verwijmeren & Y. Zabolotnyuk (2014). Why are conversion-forcing call announcements associated with negative wealth effects? Journal of Corporate Finance, 24, 149-157. doi: 10.1016/j.jcorpfin.2013.10.003
      • C. Lewis & P. Verwijmeren (2014). Cash-settled convertible bonds and the value relevance of their accounting treatment. Journal of Corporate Finance, 24, 101-111. doi: 10.1016/j.jcorpfin.2013.06.003
      • S. Brown, B. Grundy, C. Lewis & P. Verwijmeren (2013). Hedge fund involvement in convertible securities. Journal of Applied Corporate Finance, 25 (4), 60-73. doi: 10.1111/jacf.12043
      • A. Akyol & P. Verwijmeren (2013). Capital Costs, Firm Leverage, and Unemployment Rates. Journal of Financial Intermediation, 22 (3), 464-481. doi: 10.1016/j.jfi.2013.04.003
      • S. Brown, B. Grundy, C. Lewis & P. Verwijmeren (2012). Convertibles and hedge funds as distributors of equity exposure. The Review of Financial Studies, 25 (10), 3077-3112. doi: 10.1093/rfs/hhs088
      • A. de Jong, M.J.C.M. Verbeek & P. Verwijmeren (2012). Does financial flexibility reduce investment distortions? The Journal of Financial Research, 35 (2), 243-259. doi: 10.1111/j.1475-6803.2012.01316.x
      • B. Grundy, B. Lim & P. Verwijmeren (2012). Do option markets undo restrictions on short sales: evidence from the 2008 short sale ban. Journal of Financial Economics, 106 (2), 331-348. doi: 10.1016/j.jfineco.2012.05.013
      • A. Akyol, W.F. Lim & P. Verwijmeren (2012). Shareholders in the boardroom: Wealth effects of the SEC's proposal to facilitate director nominations. Journal of Financial and Quantitative Analysis, 47 (5), 1029-1057. doi: 10.1017/S0022109012000373
      • E. Duca, M.D.R.P. Dutordoir, C. Veld & P. Verwijmeren (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. doi: 10.1016/j.jbankfin.2012.03.019
      • A. de Jong, M.D.R.P. Dutordoir, N. Van Geneugten & P. Verwijmeren (2012). Convertible arbitrage price pressure and short sales constraints. Financial Analysts Journal, 68 (5), 70-88. doi: 10.2469/faj.v68.n5.4
      • A. de Jong, P. Verwijmeren & T. Jiang (2011). Strategic debt in vertical relations: Evidence from franchising. Journal of Retailing, 87 (3), 381-392. doi: 10.1016/j.jretai.2010.12.002
      • A. De Jong, M.J.C.M. Verbeek & P. Verwijmeren (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. doi: 10.1016/j.jbankfin.2010.10.006
      • C. Lewis & P. Verwijmeren (2011). Convertible security design and contract innovation. Journal of Corporate Finance, 17 (4), 809-831. doi: 10.1016/j.jcorpfin.2011.03.001
      • A. de Jong, M.D.R.P. Dutordoir & P. Verwijmeren (2011). Why do convertible issuers simultaneously repurchase stock? An arbitrage-based explanation. Journal of Financial Economics, 100 (1), 113-129. doi: 10.1016/j.jfineco.2010.10.016
      • P. Verwijmeren & J.M.M. Derwall (2010). Employee well-being, leverage, and bankruptcy costs. Journal of Banking and Finance, 34 (5), 956-964. doi: 10.1016/j.jbankfin.2009.10.006
      • M.G.J. Jennen & P. Verwijmeren (2010). Agglomeration Effects and Financial Performance. Urban Studies (print), 47 (12), 2683-2703. doi: 10.1177/0042098010363495
      • A. de Jong & P. Verwijmeren (2010). To have a target debt ratio or not: what difference does it make? Applied Financial Economics, 20 (3), 219-226. doi: 10.1080/09603100903282671
      • A. De Jong, M.J.C.M. Verbeek & P. Verwijmeren (2010). The impact of financing surpluses and large financing deficits on tests of the pecking order theory. Financial Management - FM, 39 (2), 733-756. doi: 10.1111/j.1755-053X.2010.01090.x
      • P. Verwijmeren (2010). Dating preferences. Interface, 24 (3).
      • A. De Jong, M.A. Rosellon & P. Verwijmeren (2006). De invloed van IFRS op preferente aandelen in Nederland. MAB, 80 (7/8), 336-342.
      • A. De Jong, M.A. Rosellon & P. Verwijmeren (2006). The economic consequences of IFRS: the impact of IAS 32 on preference shares in the Netherlands. The European Accounting Review, 15 (3), 169-185. doi: 10.1080/09638180600920350
      • P. Verwijmeren (2005). It's all about the figures? Interface, 22 (1), 18-19.

    • Professional Publication (1)

      • P. Verwijmeren & M.A. Rosellon (2005). De invloed van IFRS op de bedrijfsvoering. Finance en Control, 2005 (december), 56-59.

    • Semiscientific Publication (1)

      • P. Verwijmeren (2005). IFRS: de bijwerkingen van een verslaggevingsysteem. CFO Magazine, november, 68-69.

  • Article in volume (2)

    • A. Akyol, W.F. Lim & P. Verwijmeren (2012). Governance characteristics and the market reaction to the SEC's proxy access rule. In International review of finance 12, 175-195 doi: 10.1111/j.1468-2443.2011.01134.x
    • A. de Jong & P. Verwijmeren (2011). Survey evidence on capital structure - NON-US evidence. In H.k. Baker & G.S. Martin (Eds.), Capital structure and corporate financing decisions (pp. 249-262). New York: John Wiley & Sons doi: 10.1002/9781118266250.ch14

  • Report (1)

    • A. De Jong, P.G.J. Roosenboom, M.J.C.M. Verbeek & P. Verwijmeren (2007). Hedgefondsen en private equity in Nederland. (Extern rapport). Den Haag: Ministerie van Financien

  • Contribution weekly / daily journal (1)

    • P. Verwijmeren (2005, augustus 18). Bedrijven onderschatten vermogenverschaffers. het financieele dagblad

  • Inaugural speech (1)

    • P. Verwijmeren (2014). Forensic Finance. (2014, september 19). Rotterdam: Erasmus Research Institute of Management doi: 10.1257/jep.22.3.127

  • Doctoral thesis (1)

    • P. Verwijmeren (2008, december 18). Empirical essays on debt, equity, and convertible securities. Erasmus University Rotterdam (173 pag.) (Rotterdam: Erasmus Research Institute of Management (PhD Serie 154)) Prom./coprom.: Prof.Dr. A. De Jong & prof.dr. M.J.C.M. Verbeek.

• Ancillary activities (2)

  University of Glasgow

  Start date approval

  Jul/2019

  End date approval

  Jul/2022

  Place

  GLASGOW

  University of Melbourne

  Start date approval

  Jul/2019

  End date approval

  Jul/2022

  Place

  MELBOURNE

• Teaching (2)

  Seminar: Empirical Corporate Finance

  Title

  Seminar: Empirical Corporate Finance

  Year

  2020

  Year level

  master

  Advanced Corporate Finance and Governanc

  Title

  Advanced Corporate Finance and Governanc

  Year

  2020

  Year level

  master, master

• PhD list (16)

  • Yazhu Li

    Empirical Finance

    • 2018 -

  • Omar Commandeur

    Empirical Finance

    • 2018 -

  • Antti Yang

    Empirical finance

    • 2017 -

  • Nishad Matawlie

    Through Mind and Behaviour to Financial Decisions

    • 2015 - 2020

  • Dyaran Bansraj

    The Principles of Private Equity: Ownership and Acquisitions

    • 2015 - 2020

  • Rex Wang-Renjie

    Those Who Move Stock Prices

    • 2014 - 2019
  • Rogier Hanselaar

    Raising capital: On pricing, liquidity, and incentives

    • 2013 - 2018
  • Gosse Alserda

    Choices in Pension Management

    • 2013 - 2017
  • Eden Quxian Zhang

    Financing and Regulatory Frictions in Mergers and Acquisitions

    • 2012 - 2018
  • Teng Wang

    Essays in Banking and Corporate Finance

    • 2011 - 2015
  • Johan Duyvesteyn

    Empirical studies on sovereign fixed income markets

    • 2011 - 2015
  • Wilma de Groot

    Assessing Asset Pricing Anomalies

    • 2010 - 2017
  • Saskia ter Ellen

    Measurement, dynamics, and implications of heterogeneous beliefs in financial markets

    • 2010 - 2015
  • Teodor Dyakov

    Empirical Studies on Actively Managed Mutual Funds: New Insights into the Costs and Benefits of Portfolio Disclosure

    • 2010 - 2014
  • Joris Kil

    Acquisitions Through a Behavioural and Real Options Lens

    • 2009 - 2013

  • Omar Commandeur

    Empirical Finance

    • -

• Present position

  Full Professor

  University

  Erasmus University Rotterdam

  School

  Erasmus School of Economics

  Department

  Business Economics

  Country

  The Netherlands

  Telephone

  0104081392