Chen, Shiqiang and Cumming, Douglas J. and Li, Antai and Luo, Yonggen, Political Polarization and Venture Capital Investment. European Corporate Governance Institute – Finance Working Paper Forthcoming.
Cumming, Douglas J. and Ji, Shan and Sala, Carlo, Option Market Manipulation
Alexander, Carol and Chen, Xi and Cumming, Douglas J., Elsevier, Coordinated Journals and Citation Patterns
We will post an update of the paper on SSRN once the system allows us to do so...
Chen, Ruiyuan, Cumming, Douglas J., Zhao, Binru, & Zhao, Yijia. Private Equity Sponsors, Law Firm Relationship, and Loan Contracts in Leveraged Buyouts
Presented at 2024 American Law & Economics Association (ALEA) Annual Meeting, 2024 FMA European Conference, 2024 Law and Finance of Private Equity and Venture Capital Conference, 8th Entrepreneurial Finance, (ENTFIN) Conference, 2024 FMA Asia/Pacific Conference, Bangor Business School, Brandeis University, Huazhong University of Science and Technology, University of Western Australia, University of Electronic Science and Technology of China, Zhejiang University
Cumming, Douglas J., Morck, Randall K., Rong, Zhao, and Zhang, Minjie. Personal Bankruptcy Law and Innovation around the World NBER Working Paper 32826 and European Corporate Governance Institute – Finance Working No. 1001/2024.
Cumming, Douglas J. and Javakhadze, David and Suleymanov, Masim, Political Connections and Government Contracting: An International Analysis of Procurement Decisions and Firm Value. European Corporate Governance Institute – Finance Working Paper No. 976/2024
Chircop, Justin, Cumming, Douglas J., Tarsalewska, Monika, and Trzeciakiewicz, Agnieszka. Does Political Risk Influence Wage Theft? European Corporate Governance Institute – Finance Working Paper No. 938/2023.
Cumming, Douglas J., Nguyen, Giang, Pham, Anh Viet, and Truong, Cameron. Top-tier Law Firm Expertise and Venture Capital Investments: Global Evidence European Corporate Governance Institute – Finance Working Paper No. 934/2023.
Cumming, Douglas J., Schwienbacher, Armin, and Zhang, Yelin. The Performance Puzzle in Venture Capital and Private Equity Style Drifts European Corporate Governance Institute – Finance Working Paper No. 959/2024
Cumming, Douglas J. and Liu, Yudong and Yu, Chia-Feng (Jeffrey). Sports Inspiration and Entrepreneurship
Cumming, Douglas J., and Li, Yuan and Yu, Yimeng. "Stock Market Manipulation and Corporate Venture Capital Investments"
Presented at the Citrus Finance Conference, University of California, Riverside, the University of New South Wales, and the University of Technology, Sydney.
Cumming, Douglas J. and Ji, Shan and Tarsalewska, Monika. "Market Manipulation and ESG Incidents"
Presented at the 4th Global Chinese Accounting Association Summit, Curtin University, Perth, Academy of Sustainable Finance, Accounting, Accountability & Governance 2nd Annual Conference (ASFAAG), Bayes Business School, City University of London, Capital University of Economics and Business (CUEB), Beijing, Finance, Economics, Management and IT Business (FEMIB) Conference, Financial Management Association, Europe, Annual Conference, Lyon, Hawkes Center Workshop on Sustainability and Finance, Shanghai Green Finance Conference, Swansea University, Huddersfield Business School, Huazhong University of Science and Technology, INSPER, São Paulo Brazil, ISAFE Conference, Saigon Vietnam, Keynote, Annual International Undergraduate Finance Research Conference (IUFRC), Sri Lanka, Unisinos, São Leopoldo, Brazil, International Conference on Global Business and Societal Reset, India, University of Bradford's Annual Postgraduate Conference, University of South Carolina Darla Moore School of Business, and the University of Western Australia.
Cumming, Douglas J. and DeLisle, R. Jared and Lei, Jin and Yang, Zi, Do Firms Overuse Supplier Financing? Evidence from Global Board Refoms
Cumming, Douglas J. and Jain, Sanchit and Jindal, Varun, Contagion Effects of Equity Financing Announcements Within Business Groups
Presented at BAFA (British Accounting and Finance Association) Annual Conference 2025 in Belfast; European Accounting Association Annual Conference 2025 in Rome
Research Symposium in Finance and Economics best paper prize (2025)
Cumming, Douglas J., The Value of Finance Journals
Andres, C., D. Bazhutov, D. Cumming, G. Köchling, and P. Limbach, 2024. “Does Speculative News Hurt Productivity? Evidence from Takeover Rumors” Journal of Financial and Quantitative Analysis, forthcoming.
Cumming, D.J., H. Farag, S. Johan, and D. McGowan, 2022. “The Digital Credit Divide: Marketplace Lending and Entrepreneurship” Journal of Financial and Quantitative Analysis, 57 (7), 2659 - 2692. [ABS 4*, FT]
Alperovych, Y., D. Cumming, V. Czellar, A. Groh, 2021. "M&A Rumors about Unlisted Firms" Journal of Financial Economics, 142(3), 1324-1339. [ABS 4* FT]
Cumming, D.J., G. Leboeuf, and A. Schwienbacher, 2020. “Crowdfunding Models: Keep-it-All vs. All or Nothing”, Financial Management, 49(2) 331-360 [ABS 3]
Cumming, D.J., B. Haslem, and A. Knill, 2017. “Entrepreneurial Litigation and Venture Capital Finance” Journal of Financial and Quantitative Analysis, 52(5), 2217-2250 [ABS 4* FT]
Cumming, D.J., S.A. Johan, and D. Li, 2011. “Exchange Trading Rules and Stock Market Liquidity” Journal of Financial Economics 99(3), 651-671. [ABS 4* FT]
Cosh, A., D.J. Cumming, and A. Hughes, 2009. “Outside Entrepreneurial Capital” Economic Journal 119, 1494-1533. [ABS 4]
Cumming, D.J., 2008. “Contracts and Exits in Venture Capital Finance” Review of Financial Studies 21, 1947-1982. [ABS 4* FT]
Cumming, D.J., 2006. “The Determinants of Venture Capital Portfolio Size: Empirical Evidence” Journal of Business 79, 1083-1126. [ABS 4]
Cumming, D.J., and J. MacIntosh, 2003. “A Cross-Country Comparison of Full and Partial Venture Capital Exits” Journal of Banking and Finance 27(3), 511-548. [ABS 3]
Iddo Sarnat Award best paper published in the Journal of Banking and Finance.
Ahmad, M.F., Aktas, N., Cumming, D.J., and Guosong, X. (2024) "Board Reforms and M&A Performance: International Evidence" Journal of International Business Studies, forthcoming.
Cumming, D.J., M. Zhang, 2022. "Bankruptcy Law and Angel Investors around the World" Journal of International Business Studies, forthcoming.
Cumming, D.J., F. Lopez de Silanes, J. McCahery and A. Schwienbacher, 2020. “Tranching in the Syndicated Loan Market around the World” Journal of International Business Studies, 51, 95–120. [ABS 4*, FT]
Cumming, D.J., S. Ji, S.A. Johan, M. Tarsalewska, 2020. “End-of-Day Price Manipulation and M&As” British Journal of Management, 31, 184–205. [ABS 4]. See also this cool video about the paper.
Cumming, D.J., and M. Zhang, 2019. “Angel Investors around the World” Journal of International Business Studies, 50, 692–719. [ABS 4* FT]
Cumming, D.J., I. Filatoctchev, A. Knill, D. Reeb, and L. Senbet, 2017. “Law, Finance, and the International Mobility of Corporate Governance” Journal of International Business Studies, 48(2), 123-147. [ABS 4* FT]
Cumming, D.J., A. Knill, and K. Syvrud, 2016. “Do International Investors Enhance Private Firm Value? Evidence from Venture Capital” Journal of International Business Studies, 47, 347–373. [ABS 4* FT]
Cumming, D.J., Tak Yan Leung, and O.M. Rui, 2015. “Gender Diversity and Securities Fraud” Academy of Management Journal, 58(5) 1572-1593. [ABS 4* FT]
Best Paper Award at EBES Conference, Featured by the New York Times in April 2014
Cumming, D.J., and A. Knill, 2012. “Disclosure, Venture Capital, and Entrepreneurial Spawning” Journal of International Business Studies 43, 563-590. [ABS 4* FT]
Cumming, D.J., and U. Walz, 2010. “Private Equity Returns and Disclosure around the World” Journal of International Business Studies 41(4), 727-754. [ABS 4* FT]
Cumming, D.J., Dombrowski, N., Drobetz, W., Momtaz, P.P., 2024. Financing Decentralized Digital Platform Growth: The Role of Crypto Funds in Blockchain-based Startups Journal of Business Venturing, forthcoming. [ABS 4 FT]
Cumming, D.J., Johan, S., Reardon, R.S., 2024. Institutional Quality and Success in U.S. Equity Crowdfunding, Research Policy, forthcoming. [ABS 4* FT]
Cumming, D.J., Sewaid, A., 2024. Crowdlending, Self-Employment, and Entrepreneurial Performance, Entrepreneurship Theory and Practice, forthcoming. [ABS 4 FT]
Cumming, D.J., M. Meoli, A. Rossi, S. Vismara, 2024. ESG and Crowdfunding Platforms, Journal of Business Venturing, forthcoming. [ABS 4 FT]
Cumming, D.J., and L. Hornuf, 2022. "Marketplace Lending of Small and Medium Sized Enterprises" Strategic Entrepreneurship Journal, 16(1) 32-66. [ABS 4 FT]
Bellavitis, C., D.J. Cumming, and T. Vanacker, 2020. “Ban, Boom, and Echo! Entrepreneurship and Initial Coin Offerings” Entrepreneurship Theory and Practice, forthcoming. [ABS 4 FT]
Cumming, D.J., F. Hervé, E. Manthé and A. Schwienbacher, 2020. “Testing-the-Waters Policy with Hypothetical Investment: Evidence from Equity Crowdfunding” Entrepreneurship Theory and Practice, forthcoming. [ABS 4 FT]
Cumming, D.J., M. Meoli, S. Vismara, 2019. “Investors’ choices between cash and voting rights: Evidence from dual-class equity crowdfunding,” Research Policy, 48(8), Article 103740 [ABS 4* FT]
Blaseg, D., D.J. Cumming, and M. Koetter, 2020. "Equity Crowdfunding: High- or Low-Quality Entrepreneurs?" Entrepreneurship Theory and Practice, forthcoming. [ABS 4 FT]
Ahlers, G.K.C., D.J. Cumming, C. Guenther, and D. Schweizer, 2015. “Signaling in Equity Crowdfunding” Entrepreneurship Theory and Practice, 39, 955-980. [ABS 4 FT]
Australian Venture Capital and Private Equity Association Best Paper Award
Cumming, D.J., S. Johan, Y. Zhang, 2018. “Public Policy Towards Entrepreneurial Finance: Spillovers and the Scale-up Gap” Oxford Review of Economic Policy, 34, 652-675.
Carpentier, C., D.J. Cumming, and J.M. Suret, 2012. “The Value of Capital Market Regulation: IPOs versus Reverse Mergers” Journal of Empirical Legal Studies 9, 56-91.
Cumming, D.J., and N. Dai, 2009. “Capital Flows and Hedge Fund Regulation” Journal of Empirical Legal Studies 6, 848-873.
Reviewed as important to the hedge fund industry by the Cayman Financial Review October 5, 2009 “Grey Matters” http://www.compasscayman.com/cfr/cfr.aspx?id=6987
Cumming, D.J., and S. Johan, 2008 “Global Market Surveillance” American Law and Economics Review 10, 454-506.
Armour, J., and D.J.. Cumming, 2008. “Bankruptcy Law and Entrepreneurship” American Law and Economics Review 10, 303-350.
Reviewed in James Surowiecki, April 7, 2008, “Going for Broke” in The New Yorker http://www.newyorker.com/talk/financial/2008/04/07/080407ta_talk_surowiecki
Cumming, D.J., and S.A. Johan, 2008. “Hedge Fund Forum Shopping” University of Pennsylvania Journal of Business Law 10(4), 783-831. (Lead Article)
Armour, J., and D.J. Cumming, 2006. “The Legislative Road to Silicon Valley” Oxford Economic Papers 58, 596-635.
Cumming, D.J., and J. MacIntosh, 2003. “Venture Capital Exits in Canada and the United States” University of Toronto Law Journal 53, 101-200.
Cumming, D.J., and J. MacIntosh, 2002. "The Rationales Underlying Reincorporation and Implications for Canadian Corporations" International Review of Law and Economics 22(3), 277-330.
Cumming, D.J., and J. MacIntosh, 2000. "The Role of Interjurisdictional Competition in Shaping Canadian Corporate Law" International Review of Law and Economics 20(2): 141-186. (Lead Article)