Drawings by Erga Yaari.  Please click on individual pictures to see full-size version

Uzi Yaari, Ph.D.

Working Papers 

01. "Consistent Valuation Cash Flow," (Uzi Yaari, Andrei Nikiforov, Emel Kahya, and Yochanan Shachmurove).  Posted with SSRN, November 2011.

02.  "Beta Estimation with Stock Return Outliers: The Case of U.S. Pharmaceutical Companies" (Alenxandra Theodossiou, Panayiotis Theodossiou, and Uzi Yaari) Posted with SSRN, May 2009.

Articles

01.  “Safer Margins for Option Trading: How Accuracy Promotes Efficiency,"  Multinational Finance Journal, Vol. 15, (Fall 2011), 217-234.  (Rafi Eldor, Shmuel Hauser, and Uzi Yaari).

02.  “Deposit Interest Ceiling and the Cost of Bank Borrowing,” Eastern Economic Journal, Vol. 6, No. 2, pp. 119-130, April 1980. (Robert L. Greenfield and Uzi Yaari) 

03.  “Stock Prices under Inflation with Taxation of Nominal Gains,” The Financial Review, Vol. 15, No. 1, pp. 38-54, Spring 1980.  (Uzi Yaari, Dan Palmon, Matityahu Marcus)

04.  “Retention and Tax Avoidance: A Clarification,” Financial Management, Vol. 10, No. 1, pp. 29-33, Spring 1981.  (Dan Palmon and Uzi Yaari)

05.  “Stock Repurchase as a Tax-Saving Distribution,” The Journal of Financial Research, Vol. 4, No. 1, pp. 69-79, Spring 1981.  (Dan Palmon and Uzi Yaari)

06.  “Share Values, Inflation, and Escalating Tax Rates,” Journal of Banking and Finance, Vol. 5, No. 3, pp. 395-403, September 1981.  (Dan Palmon and Uzi Yaari)

07.  “Taxation of Capital Gains and the Behavior of Stock Prices over the Dividend Cycle,” The American Economist, Vol. 27, No. 1, pp. 13-22, Spring 1983.  (Dan Palmon and Uzi Yaari)

08.  “Valuation of Safe Harbor Tax Benefit Transfer Leases,” Journal of Finance, Vol. 38, No. 2, pp. 595-606, May 1983.  (Frank J. Fabozzi and Uzi Yaari)

09.  “Personal Taxes and the Fair Rate of Return Doctrine,” The Financial Review, Vol. 18, No. 2, pp. 167-174, May 1983.  (Dan Palmon and Uzi Yaari)

10.  “Why IRA and Keogh Plans Should Avoid Growth Stocks,” The Journal of Financial Research, Vol. 8, No. 3, pp. 203-215, Fall 1985.  (Uzi Yaari and Frank J. Fabozzi)

11.  “Growth and the Decision to Incorporate: A Financial Theory of the U.S. Tax System,” Research in Finance, Vol. 6, pp. 29-48, 1986 (Matityahu Marcus, Dan Palmon, and Uzi Yaari)

12.  “Unions, Default Risk, and Pension Underfunding,” Journal of Economics and Business, Vol. 40, No. 3, pp. 239-242, August 1988.  (Martin Cherkes and Uzi Yaari)

13.  “How a Closed-End Fund Can Outperform Its Own Stock Portfolio,” The International Journal of Finance, Vol. 1, No. 1, Autumn 1988. (Matityahu Marcus and Uzi Yaari)

14.  “Optimum Corporate Leverage with Risky Debt: A Demand Approach,” The Journal of Financial Research, Vol. 12, No. 2, pp. 129-142, Summer 1989.  (Jongmoo Jay Choi, Frank J. Fabozzi, and Uzi Yaari)

15.  “Taxation of Capital Gains with Deferred Realization,” National Tax Journal, Vol. 42, No. 4, pp. 475-485, December 1989.  And “Effective Capital Gains Rates: A Reply,” National Tax Journal, Vol. 44, No. 1, pp. 105-107, March 1991.  (Christopher Coyne, Frank J. Fabozzi, and Uzi Yaari.)

16.“Effective Capital Gains Rates: A Reply,” National Tax Journal, Vol. 44, No. 1, pp. 105-107, March 1991.  (Christopher Coyne, Frank J. Fabozzi, and Uzi Yaari.)

17.  “Early Exercise of Foreign Currency Options: Determinants of American Premium and the Critical Exchange Rate,” Advances in Futures and Options Research, Vol. 4, pp. 219-236, 1990. (Frank J. Fabozzi, Shmuel Hauser, and Uzi Yaari)

18.  “How to Diversify the Tax-Sheltered Equity Fund,” Advanced in Investment Analysis and Portfolio Management, Vol. 1, pp. 117-125, 1991. (Jongmoo Jay Choi, Frank J. Fabozzi, and Uzi Yaari)

19.  “Market Insurance Versus Self Insurance: The Tax-Differential Treatment and its Social Cost,” The Journal of Risk and Insurance, Vol. 58, No. 4, pp. 657-669, December 1991.  (M. Moshe Porat, Uriel Spiegel, Uzi Yaari, and Uri Ben-Zion)

20.  “The Efficiency of Term Structure Estimation Technique: A Monte Carlo Study,” The Journal of Fixed Income, Vol. 2, No. 1, pp. 52-63, March 1992. (Mark J. Buono, Russell B. Gregory-Allen, and Uzi Yaari)

21.  “How Taxes Transform Corporate Acquisitions into Asset Arbitrage,” Research in Finance, Vol. 10, pp. 173-203, 1992.  (Christopher Coyne, Frank J. Fabozzi, and Uzi Yaari)    

22.  “Trading Frequency and Implied Transaction Costs of Foreign Exchange Options,” Advances in Futures and Options Research, Vol. 7, pp. 37-45, 1994.  (Shmuel Hauser, Azriel Levy, and Uzi Yaari)

23.  “Investing in Emerging Stock Markets: Is it Worthwhile Hedging Foreign Exchange Risk?” Journal of Portfolio Management, Vol. 20, No. 3, pp. 76-81, 1994.  (Shmuel Hauser, Matityahu Marcus, and Uzi Yaari)

24.  “Hedging Strategies of Financial Intermediaries: Pricing Options with a Bid-Ask Spread,” The Financial Review, Vol. 30, No. 4, pp. 809-822, November 1995.  (Shmuel Hauser, Azriel Levy, and Uzi Yaari)

26.  “Immunization Strategy for Multinational Fixed-Income Investments,” Managing Global Currency Risk, pp. 143-152, 1997.  (Shmuel Hauser, Azriel Levy, and Uzi Yaari)

27.  “International Transfer of Pricing Information between Dually Listed Stocks,” Journal of Financial Research, Vol. 21, No. 2, pp. 139-157, Summer 1998.  (Shmuel Hauser, Yael Tanchuma, and Uzi Yaari)

28.  “Pecking Order as a Dynamic Leverage Theory,” European Journal of Finance, Vol. 4, pp. 157-183, June 1998.  (Charles N. Bagley, Dilip K. Ghosh, and Uzi Yaari)

29.  “International Hedge of Fixed-Income Contracts,” Journal of Portfolio Management, Vol. 27, No. 2, pp. 91-100, Winter 2001.  (Shmuel Hauser, Miron Rozenkranz, Uri Ben-Zion, and Uzi Yaari)

30.  “Trading Frequency and the Efficiency of Price Discovery in a Non-Dealer Market,” European Journal of Finance, Vol. 7, No. 3, pp. 187-197, September 2001.  (Shmuel Hauser, Azriel Levy, and Uzi Yaari)
 
31.  “IPO Discount and Competition,” Journal of Law and Economics, Vol. 49, No. 1, pp. 331-351, April 2006.  (Shmuel Hauser, Uzi Yaari, Yael Tanchuma, and Harold Baker)