Prof. Venezia Itzhak
Fields of Research
School of Management & Economics
Interaction of accounting and finance
Incentive stock options
Itzhak Venezia is a Professor of Finance at the Academic College of Tel Aviv-Yaffo, the Chairman of the Finance Area for the MBA studies. He holds the Sanger Chair of Banking and Risk Management (emeritus) at the Hebrew University, Jerusalem, Israel where he taught before assuming his current position, and he currently serves as the president of the Israeli Association of Behavioral Finance. Professor Venezia is the editor-in-chief of the Lecture Notes Series in Finance, and the editor of the books: Behavioral Finance: Where do Investors Biases Come From? “Behavioral Finance: The Coming of Age”, and “Behavioral Finance: A Novel Approach”. He also authored the book" Lecture Notes in Behavioral Finance." Itzhak has published numerous papers in leading journals such as the Journal of Finance, Journal of Economic Theory, Journal of Banking and Finance, Management Science, and is the joint editor of the book: Bridging the GAAP: Recent Advances in Accounting and Finance. He taught as a visiting professor at Yale University, The University of California, Los Angeles, Rutgers University, and Northwestern University. Professor Venezia’s research currently concentrates on Behavioral Finance, where he contributes profoundly to a better understanding of the disposition effect, herding, the differences in biases between amateurs and professionals, and other issues. Itzhak holds a Ph.D. from the University of California, Berkeley.
1. “A Multicountry Measure of Co-movement and Contagion in International Markets: Definition and Applications", 2022, Review of Quantitative Finance and Accounting. (With Nina Tessler).
2. “Estimating the Probabilities of Default under the Assumption of Unobserved Heterogeneity" in: Lee CF., Lee A.C., and J. Lee, (eds.) Handbook of Investment Analysis, Portfolio Management, and Financial Derivatives, London 2022. (With Jacob Oded).
3. “Interest Rate Sensitivity and Investor Disagreement: How to Explain Bank Stock Turnover “in: Lee CF., Lee A.C., and J. Lee, (eds.) Handbook of Investment Analysis, Portfolio Management, and Financial Derivatives, London 2022 (With M. Iarovy and S. Bar Yosef)
4. “A Global Comparative Study of Impact Investments Research in Academic Institutions”. In: Lee CF., Lee A.C. (eds) Encyclopedia of Finance, 2021. Springer, Cham. https://doi.org/10.1007/978-3-030-73443-5_85-1 (With Rachel Calipha).
5. Behavioral Finance: A Novel Approach, World Scientific Publishers, London, 2020.
6. “Prediction markets: do they predict the polls or the election results? The case of the Israeli elections in April 2019”,in Venezia, I. (Ed.) Behavioral Finance: A Novel Approach, World Scientific Publishers, London, 2020.
7. “Firm-Specific and Macro Herding by Professional and Amateur Investors and Their Effects on Market Volatility,” 2011, Journal of Banking and Finance, 33, 1599–1609. (I. Venezia, A. Nashikkar, Z. Shapira).
8. "On the Preference for Full-Coverage Policies: Why Do People Buy Too Much Insurance?" Journal of Economics and Psychology, 29, 2008, 747-761 (with Z. Shapira).
9. “Patterns of Behavior of Professionally Managed and Independent Investors,” Journal of Banking and Finance, 25(8), August 2001, 1573-1587 (with Z. Shapira).
10. "The Determinants of Bond Call Premia: A Signaling Approach," Journal of Financial Services Research, 8, 1994, 243-256 (with E. Schwartz).
11. "Equilibrium Pricing Under the Bank‑Client Relationship," Journal of Banking and Finance, 13, 1989, 221-235 (with S. Greenbaum and G. Kanatas).
12. "The Effects of Inflation and Taxes on Growth Investments and Replacement Policies," The Journal of Finance, 38, 1983, 1519‑1528 (with M. Brenner).
13. "A Bayesian Approach to the Optimal Growth Period Problem: A Note," The Journal of Finance, 38, 1983, 237‑246.