Pafos Innovation Institute
Lecturer

Prof. Elazar Berkovitch

Prof. Berkovitch is the former dean of the Arison School of Business and the director of its MBA Program. He has been a professor at Michigan University and at the School of Business Administration at Tel Aviv University. He also has taught at Northwestern University and the Technion. The primary focus of Prof. Berkovitch’s research is corporate finance, mergers and acquisitions, bankruptcy, reorganization of firms, executive compensation and incentives. He has published many articles on finance in international journals. Prof. Berkovitch served as a member of the editorial board of the Review of Financial Studies and the European Financial Review.

Publications

Why the NPV criterion does not maximize NPV
Review of Financial Studies, Vol. 17,  Num. 1,  pp: 239-255, 2004.
Berkovitch, Elazar and Israel, Ronen.

Financing Decisions, Managerial Compensation, and the Product Development Process
Working Paper: BUSINESS-2005-17,  2002.
(Cornell University)
Berkovitch, Elazar and Grinstein, Y. and Israel, R..

Capital structure and Managerial Compensation
Journal of Economics and Management Strategy, Vol. 9,  Num. 4,  pp: 549-584, 2000.
Berkovitch, Elazar and Israel, Ronen and Spiegel, Y..

Optimal Bankruptcy laws across different Economic Systems
The Review of Financial Studies, Vol. 12,  Num. 2,  pp: 348-377, 1999.
Berkovitch, Elazar and Israel, Ronen.

The Boundaries of the Firm: The Choice Between Stand-alone and Conglomerate Firms
Working Paper: BUSINESS-2005-18,  1999.
Berkovitch, Elazar and Israel, R. and Tolkowsky, E..

The Bankruptcy Decision and Debt Contract Renegotiating
The European Finance Review, Vol. 2,  Num. 1,  pp: 1-27, 1998.
Berkovitch, Elazar and Israel, Ronen.

The Design of Bankruptcy Law: A Case for Management Bias in Bankruptcy Reorganizations
The Journal of Financial and Quantitative Analysis, Vol. 33,  pp: 441-464, 1998.
Berkovitch, Elazar and Israel, R. and Zender, J..

Optimal Bankruptcy Laws and Firm- specific Investments
The European Economic Review, Vol. 41,  pp: 487-497, 1997.
Berkovitch, Elazar and Israel, R. and Zender, J..

The Design of Internal Control and Capital Structure
The Review of Financial Studies, Vol. 9,  Num. 1,  pp: 209-240, 1996.
Berkovitch, Elazar and Israel, Ronen.

Timing of Investment and Financing Decision in Imperfectly Competitive Financial Markets
The Journal of Business, 1994.
Berkovitch, Elazar and Narayanan, M. P..

Motives for Takeovers: An Empirical Investigation
The Journal of Financial and Quantitative Analysis, 1994.
Berkovitch, Elazar and Narayanan, M. P..

Term vs. Whole Life Insurance- A Note
Journal of Accounting, Auditing and Finance, Vol. 7,  Num. 2,  pp: 241-250, 1992.
Berkovitch, Elazar and Venezia, I..

The Loan Commitment as an Optimal Financing Contract
Journal of Financial and Quantitative Analysis, Vol. 26,  Num. 1,  pp: 83 – 95, 1991.
Berkovitch, Elazar and Greenbaum, Stuart.

A Theory of Acquisition Markets: Mergers versus Tender Offers and Golden Parachutes
The Review of Financial Studies, Vol. 4,  Num. 1,  pp: 149-174, 1991.
Berkovitch, Elazar and Khanna, Naveen.

Competition and The Medium of Exchange in Takeovers
Review of Financial Studies, Vol. 3,  Num. 2,  pp: 153-174, 1990.
Berkovitch, Elazar and Narayanan, M. P..

Financial Contracting and Leverage Induced Over and Under Investment Incentive
The Journal of Finance,  pp: 765-794, 1990.
Berkovitch, Elazar and Kim, E. H..

How Target Shareholders Benefit from Value Reducing Defensive Strategies in Takeovers
The Journal of Finance,  pp: 137-157, 1990.
Berkovitch, Elazar and Khanna, Naveen.

A Stigma Theory of Unemployment Duration
In Advances in the Theory and Measurement of Unemployment, Fishelson and Weiss eds., pp: ??-??, McMillan Press, 1990.
Berkovitch, Elazar.

The Loan Commitment and Myers` Corporate Borrowing Problem
1989.
(Banken and Versicherungen. W. Heilmann, editor. University of Karlsruhe)
Berkovitch, Elazar and Greenbaum, Stuart.

Tender Offer Auctions and Resistance Strategies
Journal of Law, Economics and Organization, Vol. 5,  Num. 2,  pp: 395-411, 1989.
Berkovitch, Elazar and Bradley, M. and Khanna, N..

Implicit Labor Contract to Explain Turnover
Journal of Labor Economics, 1986.
Berkovitch, Elazar.