Michelle Lowry, PhD

Candid photo of Michelle Lowry

Selected Works


Lowry, Michelle, Does common ownership really increase firm coordination?. Journal of Financial Economics 141 (Jul 2021): 322-344.

Lowry, Michelle, Michaely, Roni, and Volkova, Ekatarina, Information revelation through regulatory process: Interactions between the SEC and companies ahead of the IPO. Review of Financial Studies 33 (Dec 2020): 5510-5554.

Lowry, Michelle, Kwon, Sungjoung, and Qian, Yiming, Mutual fund investments in private firms. Journal of Financial Economics 136 (May 2020): 407-443.

Lowry, Michelle, and Iliev, Peter, Venturing beyond the IPO: financing in newly public firms by pre-IPO investors. Journal of Finance 75 (Feb 2020): 1527-1577.

Lowry, Michelle, The information advantage of underwriters in IPOs. Management Science 65 (Dec 2019): 5449-5956.

Lowry, Michelle, Informed trading by advisor banks: evidence from options holdings. Review of Financial Studies 32 (Feb 2019): 605-645.

Lowry, Michelle, Are all perks solely perks? evidence from corporate jets. Journal of Corporate Finance (Feb 2018):

Lowry, Michelle, Michaely, Roni, and Volkova, Ekatarina, Initial Public Offerings: A Synthesis of the Literature and Directions for Future Research. Foundations and Trends in Finance (Nov 2017):

Lowry, Michelle, Are Mutual Funds Active Voters. Review of Financial Studies (Sep 2014):

Lowry, Michelle, Are Busy Directors Detrimental?. Journal of Financial Economics (Jul 2013):

Lowry, Michelle, When do banks listen to their analysts? Evidence from mergers and acquisitions. Review of Financial Studies (Jun 2011):

Editorial Board Service

Financial Review – Advisory Board Member (2020–Present)
Journal of Financial Economics – Associate Editor (2019–Present)
Journal of Financial Economics – Associate Editor (2018)
Journal of Financial Economics – Associate Editor (2017)


BA Economics, Public Policy - Duke University 1992
PhD Business - University of Rochester 2000

Media Mentions

When and why it’s worth taking a look at equity index futures

via Marketplace

Michelle Lowry, TD Bank professor of finance, shares insight on futures contracts.

Philadelphia fintech leaders: The dream of blockchain isn't dead

via Philadelphia Business Journal

Michelle Lowry, professor of finance and academic director of the Gupta Governance Institute at Drexel University, spoke on a panel exploring the impact and possibilities of blockchain and cryptocurrency at PACT’s Fintech Conference on Feb. 6, 2020.

College News

The benefits of financial flexibility can arise from multiple sources. Here we turn to the linkages between debt and financial flexibility, particularly in light of the ongoing pandemic.

Vanguard’s Head of Blockchain Strategy taught a winter undergraduate course on blockchain with faculty experts from across the University.