Economics Faculty

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Associate Professor of Economics

Education:

Ph.D. Cornell University, 2012, Economics

Specialty Fields:

Labor Economics, Development Economics

Selected Publications:

“Does Employment Respond Differently to Minimum Wage Increases in the Presence of Inflation Indexing?” (With Michael Strain.) Journal of Human Resources. Summer 2020.

“Asymmetric Non-Separation and Rural Labor Markets.” (With Brian Dillon and Germano Mwabu.) Journal of Development Economics. June 2019.

“Who Creates Stable Jobs? Evidence from Brazil.” (With Laura Connolly.) Oxford Bulletin of Economics and Statistics. June 2019.

“Job Quality and Poverty in Latin America.” (With Christopher Mann and Carlos Rodriguez-Castelan.) Review of Development Economics. November 2018.

“Trends in Occupational Segregation by Gender 1970-2009: Adjusting for the Impact of Changes in the Occupational Coding System.” (With Francine D. Blau and Albert Yung-Hsu Liu.) Demography.  April 2013.

“Is There Still Son Preference in the United States?” (With Francine D. Blau, Lawrence M. Kahn, Jason Cook and Miriam Larson-Koester.) NBER Working Paper No. 23816.

“Variation in Wage Mark Downs across Establishments: Evidence from the Indonesian Labor Market.” Working Paper.

“Should Farmers Farm More? Comparing Marginal Products within Malawian Households.” (With Joshua D. Merfeld.) Working Paper.

“How Do Restaurants Pay for the Minimum Wage?” Working Paper

Assistant Professor of Economics

Education:

Ph.D. University of Michigan, 2018, Economics

Specialty Fields:

Energy Economics, Environmental Economics

Selected Publications:

“How Does Mandatory Energy Efficiency Disclosure Affect Housing Prices?” Working Paper.

“Heating and Cooling Upgrades in Response to Extreme Weather.” Working Paper.

“Cleaning Up the Rust Belt: Housing Market Impacts of Removing Legacy Pollutants.” (With Robyn Meeks and Michael Moore.) Working Paper.

Assistant Professor of Economics

Education:

Ph.D. University of Michigan, 2018, Economics

Specialty Fields:

Public Finance, Development, Political Economy

Selected Publications:

“The Long-Run Effects of Oil Wealth on Development: Evidence from Petroleum Geology.” Economic Journal. October 2019.

“Old and Young Politicians.” (With Alberto Alesina and Ugo Troiano.) Economica. October 2019.

"Broadening State Capacity: Fiscal and Mobility Consequences of the Introduction of the Income Tax." (With Mark Dincecco and Ugo Troiano.) Working Paper.

“How Forward-Looking are Local Governments? Evidence from Indonesia.” Working Paper.

“The Economic Legacy of Warfare: Evidence from European Regions.” (With Mark Dincecco and Massimiliano Gaetano Onorato.) Working Paper.

Bidgood Chair of Economics and Finance

Professor of Economics

Education

Ph.D., University of Arizona, 2001, Economics

Specialty Fields:

Experimental Economics, Behavioral Economics

Selected Publications:

“Designing Call Auction Institutions to Eliminate Price Bubbles: Is English Dutch the Best?” (With M. Servátka and S. Tucker.) American Economic Review: Insights. Forthcoming.

“Optimization Choice Architectures.” (With M. Schneider, T. Besedes, S. Sarangi, and M. Shor.) Decision Analysis. March 2019.

“An Experimental Investigation of Procurement Auctions with Asymmetric Sellers.” (With J. Aloysius, R. French, and L. Hao.) Production and Operations Management. October 2016. 

“State Dependent Price Setting Rules under Implicit Thresholds: An Experiment.” (With J. LeBlanc, A. Civelli, and K. Bregu.) Journal of Economic Dynamics and Control. July 2016

“Reducing Choice Overload without Reducing Choices.” (With T. Besedeš, S. Sarangi, and M. Shor.) Review of Economics and Statistics. October 2015.  

“The Effect of Cognitive Load on Economic Decision Making: A Survey and New Experiments.” (With S. Jahedi.) European Economic Review. August 2015.  

“Experimenting with Purchase History Based Price Discrimination.” (With Z. Brokesova and J. Peliova.), International Journal of Industrial Organization. November 2014. 

“Consistency of Higher Order Risk Preferences.” (With H. Schlesinger.) Econometrica. September 2014.

“Sequential Pricing of Multiple Products: Leveraging Revealed Preferences of Retail Customers Online and with Auto-ID Technologies.” (With J. Aloysius, and A. Farmer.) Information Systems Research. June 2013.

“Fight or Flight? Defending Against Sequential Attacks in the Game of Siege.” (With R. Sheremeta.) Journal of Conflict Resolution. December 2012.

“Age Effects and Heuristics in Decision Making.” (With T. Besedeš, S. Sarangi, and M. Shor.) Review of Economics and Statistics. May 2012.

“Exploring Higher-Order Risk Effects." (With H. Schlesinger.) Review of Economic Studies. October 2010.

“Tracking Customer Search to Price Discriminate.” (With B. Wilson.) Economic Inquiry. 2006.

“On the Nature of Reciprocal Motives.” (With J. Cox.) Economic Inquiry. July 2005.

“A Test of Game Theoretic and Behavioral Models of Play in Exchange and Insurance Environments.” American Economic Review. December 2001.

Assistant Professor of Economics

Education:

Ph.D. Duke University 2018, Economics

Specialty Fields:

Macroeconomics, Economic Growth, Macro-Finance

Selected Publications:

“Lessons for Tax Reform from an Equilibrium Model of Innovation.” (With Domenico Ferraro and Pietro Peretto.) Working Paper.

“Dominant Firms and Long-run Growth.” Working paper.

“Implications of Tax Policy for Innovation and Aggregate Productivity Growth.” (With Domenico Ferraro and Pietro Peretto.) Working paper.

“Monitoring and Evaluation by Financiers and Investor Activism.” (With Dan Bernhardt) Working paper

Associate Professor of Economics

Education:

Ph.D. University of North Carolina, 2005, Economics

Specialty Fields:

Macroeconomics and Monetary Economics 

Selected Publications:

“Monetary Policy and Investment Dynamics: Evidence from Disaggregate Data.” (With Robert R. Reed.) Journal of Money, Credit and Banking. December 2018.

Do Data Revisions Matter for DSGE Estimation?” Journal of Money, Credit and Banking. September 2017.

“On the Gains from Monetary Policy Commitment under Deep Habits.” Journal of Macroeconomics. December 2016.

“A Note on Comparing Deep and Aggregate Habit Formation in an Estimated New Keynesian Model.” Macroeconomic Dynamics. July 2015.

“Inferring Monetary Policy Objectives with a Partially Observed State.” (With Michael Salemi.) Journal of Economic Dynamics and Control. March 2015.

“Estimating Central Bank Preferences under Commitment and Discretion.” Journal of Money, Credit, and Banking. September 2012.

“Unemployment Insurance in a Sticky-Price Model with Worker Moral Hazard.” Journal of Economic Dynamics and Control. August 2011.

“Which Price Level to Target? Strategic Delegation in a Sticky Price and Wage Economy.” Journal of Macroeconomics. December 2009.

“Generalized Method of Moments and Inverse Control.” (With Michael Salemi.) Journal of Economic Dynamics and Control. October 2008.

“Unemployment, Imperfect Risk Sharing, and the Monetary Business Cycle.” The B.E. Journal of Macroeconomics (Contributions). March 2008

Associate Professor of Economics

Education:

Ph.D. Vanderbilt University, 2008, Economics

Specialty Fields:

Industrial Organization, Experimental Economics, Market Design

Selected Publications:

“The Secure Boston Mechanism: Theory and Experiments.” (With Umut Dur and Thayer Morrill.) Experimental Economics. December 2019.

“What Drives Pricing Behavior in Peer-to-Peer Markets? Evidence from the Car-Sharing Platform BlaBlaCar.” (With Mehdi Farajallah and Thierry Penard.) Information Economics and Policy. September 2019.

“Enhancing Effort Supply with Prize-Augmenting Entry Fees: Theory and Experiments.” (With Bin Liu, Jingfeng Lu, and Yohanes Riyanto.) International Economic Review. August 2019.

“Informing Retirement Savings Decisions: A Field Experiment on Supplemental Plans. (With Robert Clark, Melinda Morrill, and Christelle Khalaf.) Economic Inquiry. January 2019.

“Identifying the Harm of Manipulable School-Choice Mechanisms.” (With Umut Dur and Thayer Morrill.) American Economic Journal: Economic Policy. February 2018.

“Personality Traits and Bidding Behavior in Competing Auctions.” (With Thayer Morrill.) Journal of Economic Psychology. December 2016.

“Profit Leak? Pre-Release File Sharing and the Music Industry.” Southern Economic Journal. October 2014.

“Strategic Exclusion of the Highest-Valued Bidders in Wholesale Automobile Auctions.” (With Thayer Morrill.) Economic Inquiry. July 2014.

“Quantifying Consumer Perception of a Financially Distressed Company.” Journal of Business & Economic Statistics. October 2013.

“A Structural Model of Competing Sellers: Auctions and Posted Prices.” European Economic Review. May 2013.

“Heterogeneity in Tournaments with Incomplete Information: An Experimental Analysis.” (With Xiaoyong Zheng.) International Journal of Industrial Organization. May 2013.

“Sudden Unintended Used-Price Deceleration? The 2009-2010 Toyota Recalls.” Journal of Economics & Management Strategy. Spring 2013.

 “Comparing Revenue from Auctions and Posted Prices.” International Journal of Industrial Organization.  January 2010

J. Weldon and Delores Cole Faculty Fellow

Professor of Economics

Education:

Ph.D. University of California, Riverside, 2003, Economics

Specialty Fields:

Nonparametric Econometrics, Economic Growth and Development, Economics of Education

Selected Publications:

 “On Discrete Epanechnikov Kernel Functions.” (With Chi-Yang Chu and Christopher Parmeter.) Computational Statistics and Data Analysis. 2017.

Applied Nonparametric Econometrics. (With Christopher Parmeter.) Cambridge University Press. 2015.

“Gradient Based Smoothing Parameter Selection for Nonparametric Regression Estimation.”  (With Qi Li, Christopher Parmeter and Shuang Yao.)  Journal of Econometrics. 2015.

“Smooth Coefficient Estimation of a Seemingly Unrelated Regression.” (With Subal Kumbhakar, Qi Li and Christopher Parmeter.) Journal of Econometrics. 2015.

“Additive Nonparametric Regression in the Presence of Endogenous Regression.” (With Deniz Ozabaci and Liangjun Su.) Journal of Business and Economic Statistics. 2014.

“Who benefits from Financial Development? New Methods, New Evidence.” (With Chris Papageorgiou and Christopher Parmeter.) European Economic Review. 2013.

“When, Where and How to Perform Efficiency Estimation.” (With Oleg Badunenko and Subal Kumbhakar.) Journal of the Royal Statistical Society, Series A. 2012.

“Growth Empirics without Parameters.” (With Chris Papageorgiou and Christopher Parmeter.) Economic Journal. 2012.

“Empirical Implementation of Nonparametric First-Price Auction Models.” (With John List, Daniel Millimet, Christopher Parmeter and Michael Price.) Journal of Econometrics. 2012.

“A Nonparametric Examination of Capital-Skill Complementarity.” Oxford Bulletin of Economics and Statistics. 2009.

“Nonparametric Estimation and Testing of Fixed Effects Panel Data Models.” (With Raymond Carroll and Qi Li.) Journal of Econometrics. 2008.

“Is Gravity Linear?” (With Daniel Millimet.) Journal of Applied Econometrics. 2008.

“Pollution Abatement Costs and Foreign Direct Investment Inflows to U.S. States: A Nonparametric Reassessment.” (With Daniel Millimet.) Review of Economics and Statistics. 2007.

“Human Capital and Convergence: A Production-Frontier Approach.” (With Robert Russell.) International Economic Review. 2005

Associate Professor of Economics

Education:

Ph.D. Texas A&M University, 2006, Economics

Specialty Fields:

Behavioral Decision Theory, Industrial Organization

Selected Publications:

“Free Riders and the Optimal Prize in Public Good Funding Lotteries.” (With Zhe Yang.) Journal of Public Economic Theory. Forthcoming.

“Market Making with Convex Quotes.” (With Hae-shin Hwang.) Finance Research Letters. Forthcoming.

“Political Business Cycles in a Dynamic Bipartisan Voting Model.” (With Matt Van Essen.) Mathematical Social Sciences. November 2019.

“Risk Attitudes and Heterogeneity in Simultaneous and Sequential Contests.” (With Zhe Yang.) Journal of Economic Behavior & Organization. June 2017.

“Risk Lovers and the Rent Over-investment Puzzle.” (With Chris Whaley.) Public Choice.  July 2015.

“Price Discrimination through Refund Contracts in Airlines.” (With Diego Escobari.) International Journal of Industrial Organization. May 2014.

“Persuasive Communication when the Sender’s Incentives Are Uncertain.” (With Carlos Oyarzun.) Journal of Economic Behavior & Organization. November 2013.

“Do Risk Lovers Invest in Self-Protection?” Economics Letters. November 2013.

“On the Economics of Interrogation:  The Big 4 Versus the Little Fish Game.”  (With Walter Enders.) Journal of Peace Research.  May 2011.

“Prudence Probability Premium.” Economics Letters. October 2010.

“Network Externalities and the Structure of Terror Networks.”  (With Walter Enders.) Journal of Conflict Resolution. April 2010.

“The Impact of Societal Risk Attitude on Terrorism and Counterterrorism.” (With William S. Neilson.) Economics and Politics. November 2009.

“Option Price without Expected Utility.” (With W. Douglass Shaw.) Economics Letters. September 2008. 

“Higher-order Generalizations of Arrow-Pratt and Ross Risk Aversion: A Comparative Statics Approach.”    (With William S. Neilson.) Journal of Economic Theory.  September 2007.

“Prize Linked Savings Games: Theory and Experiment.” (With Pacharasut Sujarittanonta and Ajalavat Viriyavipart.) Working Paper.

“Comparative Risk Apportionment.” (With Liqun Liu and William Neilson.) Working Paper

Assistant Professor of Economics

Education:

Ph.D., University of Colorado, 2008, Economics

Specialty Fields:

Urban Economics, Public Finance

Selected Publications:

“Valuing Curb Appeal” (with Sriram Villapuram and Alan Tidwell.) Journal of Real Estate Finance and Economics. February 2020.

“Intergenerational Conflict, Ethnic Divisions and the Political Economy of Higher Education Funding.” (With Eric Brunner.) Journal of Urban Economics. January 2016.

“Agglomeration within an Urban Area.” (With Stephen Billings.) Journal of Urban Economics. January 2016.

“The Effect of Property Taxes on Vacation Home Growth Rates: Evidence from Michigan.” (With Randall   Walsh.) Regional Science and Urban Economics. September 2013.

“The Location Quotient as an Estimator of Industrial Concentration.” (With Stephen Billings.) Regional Science and Urban Economics. January 2012.

“A Non-parametric Test for Industrial Specialization.” (With Stephen Billings) Journal of Urban Economics. May 2012.

Rick and Elaine Horsley Faculty Fellow

Professor of Economics

Education:

Ph.D., Michigan State University, 2007, Economics.

Specialty Fields:

Industrial Organization, Applied Microeconomics

Selected Publications:

"Second-degree Price Discrimination by a Two-sided Monopoly Platform." (With Doh-Shin Jeon and Domenico Menicucci.) American Economic Journal: Microeconomics. Forthcoming.

"Price-match Guarantees and Investment Incentives." (With Mishal Ahmed.) Information Economics and Policy. Forthcoming.

"The Utilitarian-Maximin Social Welfare Function and Anomalies in Social Choice." (With Mark Schneider.) Southern Economic Journal. Forthcoming.

“Privacy and Personal Data Collection with Information Externalities.” (With Jay Pil Choi and Doh-Shin Jeon.) Journal of Public Economics. May 2019.

“Net Neutrality, Network Capacity, and Innovation at the Edges.” (With Jay Pil Choi and Doh-Shin Jeon.) Journal of Industrial Economics. March 2018.

"The Economics of the Right-to-be Forgotten." (With Jin-Yeub Kim.) Journal of Law and Economics. May 2017.

"Two-Sided Platform Competition with Multihoming Agents: An Empirical Study on the Daily Deals Market." (With Hyunwoo Park and Jeongsik Lee.) Information Economics and Policy. December 2017.

“Taming Drillers through Legislative Action: Evidence from Pennsylvania’s Shale Gas Industry.” (With Matthew E. Oliver.) Resource and Energy Economics 2017.

"Project Selection in NIH: A Natural Experiment from ARRA.” (With Hyunwoo Park and Jeongsik Lee.) Research Policy 2015. 

"Net Neutrality, Business Models, and Internet Interconnection." (With Jay Pil Choi and Doh-Shin Jeon.) American Economic Journal: Microeconomics. 2015. 

“Export Growth and Credit Constraints.” (With Tibor Besedes and Volodymyr Lugovskyy.) European Economic Review. 2014.  

"Signaling, Learning and Screening Prior to Trial: Informational Implications of Preliminary Injunctions." (With Thomas. D. Jeitschko.) Journal of Law, Economics, and Organization 2013.

“Dynamic Competition in Technological Investments: An Empirical Examination of the LCD Panel Industry.” (With Jeongsik Lee and Young-mo Lim.) International Journal of Industrial Organization. 2011.

"Net Neutrality and Investment Incentives." (With Jay Pil Choi.) Rand Journal of Economics. 2010.

McDonald Faculty Fellow

Professor of Economics

Education:

Ph.D. Michigan State University, 1991, Economics

Specialty Fields:

Econometrics, Applied Econometrics, Applied Macroeconomics

Selected Publications:

“Response surface estimates of the LM unit root tests.” (With S. Nazlioglu.) Economics Letters. July 2020.

“Public Debt and Economic Growth Conundrum: Nonlinearity and Inter-temporal Relationship.” (With V. Arčabić, J. Tica and R. Sonora.) Studies in Nonlinear Dynamics and Econometrics. February 2018.

“DF-IV Unit Root Tests Using Stationary Instrument Variables.” (With K Im, V. Arčabić and M Hur.) Journal of Statistical and Econometric Methods. January 2018.

Stochastic Convergence in Per Capita Fossil Fuel Consumption in U.S. States.” (With M. Vizek and James Payne.) Energy Economics. February 2017.

“Free Trade Agreements and Foreign Direct Investment: The Role of Endogeneity and Dynamics.” (With Byung Ki Lee, Cristina Lira and Robert Reed.) Southern Economic Journal. July 2016.

“Time Varying Integration of the Sovereign Bond Markets in European Post-Transition Economies.” (With P. Šimović, M. Tkalec and M. Vizek.) Journal of Empirical Finance. March 2016.

“A Unit-root Test Using a Fourier series to Approximate Smooth Breaks.” (With Walter Enders.) Oxford Bulletin of Economics and Statistics. August 2012.

“ADL Tests for Threshold Cointegration.” (With Jing Li.) Journal of Time Series Analysis. July 2010.

“Does Solicitation Matter in Bank Credit Ratings?” (With Benton Gup and Winnie Poon.) Journal of Money, Credit and Banking. March 2009.

“Stationarity Tests with Unattended Nonlinearity.” (With Walter Enders and Ralf Becker.) Journal of Time Series Analysis. May 2006.

“Nonrenewable Resource Prices: Deterministic or Stochastic Trend?” (With John A. List and Mark Strazicich.) Journal of Environmental Economics and Management. January 2006.

“Minimum LM Unit Root Tests with Two Structural Breaks.” (With M. Strazicich.) Review of Economics and Statistics. November 2003.

“Quasi-Fixed Inputs and Long-Run Equilibrium in Production.” (With H. Y. Kim.) Journal of Applied Econometrics. January 2001.

“An LM Test for a Unit Root in the Presence of a Structural Change.” (With C. Amsler.) Econometric Theory. February 1995.

Assistant Professor of Economics

Education:

Ph.D. Emory University, 2014, Economics

MS, Marquette University, 2008, Applied Economics

Specialty Fields:

Econometrics, Financial Economics, Monetary Economics and Empirical Macroeconomics

Selected Publications:

"Forecasting Short-Run Exchange Rate Volatility with Monetary Fundamentals: A GARCH-MIDAS Approach" (with You Yu.) Journal of Banking and Finance. July 2020.

“On Tail Fatness of Macroeconomic Dynamics.” Journal of Macroeconomics. December 2019.

“Quantile-Based Asymmetric Dynamics of Real GDP Growth.” Macroeconomic Dynamics. March 2019.

"How is the Taylor Rule Distributed under Endogenous Monetary Regimes?" International Review of Finance. June 2018.

"Markov-Switching Quantile Autoregression: A Gibbs Sampling Approach." (With Richard Luger.) Studies in Nonlinear Dynamics and Econometrics. April 2018.

“Structural Volatility Impulse Response Function and Asymptotic Inference.” Journal of Financial Econometrics. March 2018.

"Measuring Systemic Risk with Regime Switching in Tails." Economic Modelling. December 2017.

"Can Macroeconomic Dynamics Explain the Time Variation of Risk-Return Trade-offs in the U.S. Financial Market?" The Quarterly Review of Economics and Finance. November 2017.

"Unfolded Risk-Return Trade-Offs and Links to Macroeconomic Dynamics" Journal of Banking and Finance. September 2017.

"An Integrated Macro-Financial Risk-Based Approach to the Stressed Capital Requirement." Review of Financial Economics. September 2017.

"Foreign Exchange Predictability and Carry Trade: A Decomposition Approach." (With Stanislav Anatolyev, Nikolay Gospodinov, and Ibrahim Jamali.) Journal of Empirical Finance. June 2017.

“Markov-Switching Quantile Autoregression.” Statistica Neerlandica. November 2016.

“A New Approach to Risk-Return Tradeoff Dynamics via Decomposition." (With David Frazier.) Journal of Economic Dynamics & Control. January 2016.

“Unfolded GARCH Models." (With Richard Luger.) Journal of Economic Dynamics & Control. September 2015.

“Modeling Time-varying Skewness via Decomposition for Out-of-sample Forecast.” International Journal of Forecasting. April-June 2015.

Professor of Economics

Education:

Ph.D. Iowa State University, 1998, Economics

Specialty Fields:

Decisions under Risk and Uncertainty, Environmental Economics, Behavioral Economics, Game Theory

Selected Publications:

“Is allocation affected by the perception of others' irresponsible behavior and by ambiguity?” (With Zvi Safra and Sinong Ma.) Risk Analysis. 2019.

“The Social Character of Moral Reasoning.” (With Nick Chater and Hossam Zeitoun.) Behavioral and Brain Sciences. 2019.

“Collusion in Bertrand versus Cournot competition: A Virtual Bargaining Approach.” (With Hossam Zeitoun and Nick Chater.) Management Science. 2018.

“Contests with Ambiguity.” (With David Kelsey.) Oxford Economic Papers. 2018.

“Ambiguity and the Economic Rhetoric of Climate Change.” (With Robert Chambers.) Journal of Environmental Economics and Management. 2017.

“Intrinsic Variability in Group and Individual Decision-Making.” (With Zvi Safra.) Management Science. 2016.

“Unwritten Rules: Virtual Bargaining as a Foundation for Social Interaction, Culture and Society.” (With Jennifer Misyak, Hossam Zeitoun, and Nick Chater.) Trends in Cognitive Science. 2014.

“Food Scares in an Uncertain World.” (With Robert Chambers.) Journal of the European Economic Association. 2013.

“Destined to Receive: The Impact of Remittances on Household Decisions in Armenia.” (With David Grigorian.) Review of Development Economics. 2011.

“Ambiguity, Pessimism, and Rational Religious Choice.” (With Mark Pingle.) Theory and Decision. 2010.

“Buy Low, Sell High: Price Gaps and Neoclassical Theory.” (With Robert Chambers.)  Journal of Mathematical Economics. 2009.

Pareto Optimal Trade in an Uncertain World: GMOs and the Precautionary Principle. (With Robert Chambers.) American Journal of Agricultural Economics. 2007.

“Value of Reputation in the Chain-store Game with Multiple Incumbents.” International Journal of Industrial Organization. 2006.

“Eliciting the Core of a Supermodular Capacity.” (With Robert Chambers.) Economic Theory. 2005.

“Voting over Efficient Decision Rules in Balanced Budget Organizations.” (With Brent Hueth.) Journal of Economic Behavior and Organization. 2003.

James Patrick and Elizabeth B. Hayes Professor of Economics

Education:

Ph.D. Duke University, 1990, Economics

Specialty Fields:

Public Economics, Law and Economics

Selected Publications:

“Bridge Burning and Escape Routes.”Public Choice. September 2020.

“Disclosure and Discovery with Fairness.” (With Amy Farmer.) International Review of Law and Economics. June 2020.

“An Empirical Analysis of Litigation with Discovery: The Role of Fairness.” (With Mark Van Boening.) Journal of Behavioral and Experimental Economics. August 2019.

“Racial Disparity in U.S. Imprisonment across States and over Time.” (With Walter Enders and Anne-Charlotte Souto.) Journal of Quantitative Criminology. June 2019.

“An Empirical Analysis of the Signaling and Screening Models of Litigation.” (With Mark Van Boening.) American Law and Economics Review. April 2018.

“Supermajority Rule, the Law of 1/n and Government Spending: A Synthesis.” Public Choice. April 2018.

“Costly Voluntary Disclosure with Negative Expected Value Suits.” (With Amy Farmer.) American Law and Economics Review. Fall 2017.

“A Portion of Profits to Charity: Corporate Social Responsibility and Firm Profitability.” Southern Economic Journal. October 2016.

“Individual Welfare and the Group Size Paradox.” Public Choice. July 2016.

“Olson’s Logic of Collective Action at Fifty.” Public Choice. March 2015.

“Pretrial Bargaining with Asymmetric Information and Endogenous Expenditure at Trial.” (With Amy Farmer.) Journal of Legal Studies. January 2013.

“Title IX and the Allocation of Resources to Women’s and Men’s Sports.” (With Amy Farmer.) American Law and Economics Review.  Spring 2012.

“Fairness in an Embedded Ultimatum Game.” (With Mark Van Boening.) Journal of Law and Economics. May 2010.

“Monopolistic Competition, Growth and Public Good Provision.” Economic Journal. January 2009.

“Civil Litigation with Mandatory Discovery and Voluntary Transmission of Private Information.” (With Amy Farmer.) Journal of Legal Studies. January 2005.

“The Causes of Bargaining Failure Evidence from Major League Baseball.” (With Amy Farmer and Victor Stango.) Journal of Law and Economics.  October 2004.

Dwight Harrigan Endowed Faculty Fellow in Natural Resource Economics

Professor of Economics

Education:

Ph.D., University of Maryland, 2005, Agricultural and Resource Economics.

Specialty Fields:

Behavioral Economics, Field Experiments, Energy and Environmental Economics, Economics of Charity

Selected Publications:

“Testing for Crowd Out in Social Nudges: Evidence from a Natural Field Experiment in the Market for Electricity.” (With A. Brandon, J. List, R. Metcalfe, and F. Rundhammer.) Proceedings of the National Academy of Sciences. August 2018.

“Signaling Quality through Gifts: Implications for the Charitable Sector.” (With A. Lange and R. Santore.) European Economic Review. July 2017.

“Advice in the Marketplace: A Laboratory Experiment.” (With J. Alevy.) Experimental Economics. March 2017.

“Public Good Provision in the Presence of Heterogeneous Green Preferences.” (With M. Jacobsen and J. LaRiviere.) Journal of the Association of Environmental and Resource Economists. March 2017.

“Using Field Experiments in Environmental and Resource Economics.” (With J. List.) Review of Environmental Economics and Policy. Summer 2016.

“Using Field Experiments to Address Environmental Externalities and Resource Scarcity: Major Lessons Learned and New Directions for Future Research.” Oxford Review of Economic Policy. Winter 2014.

“Using Non-Pecuniary Strategies to Influence Behavior: Evidence from a Large-Scale Field Experiment.” (With P. Ferraro.) Review of Economics and Statistics. March 2013.

“Empirical Implementation of Nonparametric First-Price Auction Models.” (With D. Henderson, J. List, D. Millimet, and C. Parmeter.) Journal of Econometrics. May 2012.

“Is a Donor in Hand Better than Two in the Bush? Evidence from a Natural Field Experiment.” (With C. Landry, A. Lange, J. List, and N. Rupp.) American Economic Review. June 2010.

“A Fundraising Mechanism Inspired by Historical Tontines: Theory and Experimental Evidence.” (With A. Lange and J. List) Journal of Public Economics. September 2007.

“Using Lotteries to Finance Public Goods: Theory and Experimental Evidence.” (With A. Lange and J. List) International Economic Review. August 2007.

“Towards an Understanding of the Economics of Charity: Evidence from a Field Experiment.” (With C. Landry, A. Lange, J. List and N. Rupp) Quarterly Journal of Economics.  May 2006.

“Conspiracies and Secret Price Discounts in the Marketplace: Evidence from the Field.” (With J. List) RAND Journal of Economics. Autumn 2005.

Department Head of Economics, Finance, and Legal Studies

Professor of Economics

Education:

Ph.D., Southern Methodist University, 1994, Economics.

Specialty Fields:

Experimental Economics, Public Finance

Selected Publications:

“Kids or Cash? Exploring Charter School Responses to Declining Government Revenues.” (With S. Grosskopf, K. Hayes, and L. Taylor.) Economic Inquiry. Forthcoming.

“Encouragement, Experience and Spillover Effects in a Field Experiment on Teens' Museum Attendance.” (With L. Forastiere, P. Lattarulo, M. Mariani, and F. Mealli.) Journal of Business and Economic Statistics. Forthcoming.

“Best-of-Five Contest: An Experiment on Gender Differences.” (With S. Mago.) Journal of Economic Behavior & Organization. June 2019.

“Taking Aversion.” (With O. Korenok and E. Millner.) Journal of Economic Behavior and Organization. June 2018.

“Altruism and Feelings of Ownership.” (With O. Korenok and E. Millner.) Journal of Economic Psychology. 2017.

“Indirect Ethics and Backdoor Bailouts: The Case of AIG.” (With D. G. Arce.)  Journal of Business Ethics. 2016.

“The Paradox of Misaligned Profiling.” (With C. Holt, A. Kydd and R. Sheremeta.) Journal of Conflict Resolution. 2016.

“Taking, Giving, and Impure Altruism in Dictator Games.” (With O. Korenok and E. Millner.) Experimental Economics. 2014.

“Traffic Congestion: An Experimental Study of the Downs-Thompson Paradox.” (With E. Dechenaux and S. Mago.) Experimental Economics, 2013.

“Impure Altruism in Dictators’ Giving.” (With O. Korenok and E. Millner.) Journal of Public Economics. 2013.

“Are Dictators Averse to Inequality?” (With O. Korenok and E. Millner.) Journal of Economic Behavior and Organization. 2012.

“Congestion Allocation for Distributed Networks: An Experimental Study.” (With Y. Chen and T. Turocy.) Economic Theory. 2007.

“Auction-Like Mechanisms for Pricing Excludable Public Goods.” (With R. Deb.) Journal of Economic Theory. 1999.

Eubanks Professor of Real Estate and Professional Services

Professor of Economics

Education:

Ph.D. Pennsylvania State University, 1998, Economics

Specialty Fields:

Monetary Theory, Real Estate, Economic Development, Financial Intermediation

Selected Publications:

"Banking Competition, Capital Accumulation, and Interest on Reserves." (With E. Ghossoub.) Economic Inquiry. Forthcoming.

“Housing, Liquidity Risk, and the Effects of Monetary Policy.” (With E. Ume.) Journal of Macroeconomics. June 2019.

“Banking Competition, Production Externalities, and the Effects of Monetary Policy.” (With E. Ghossoub.) Economic Theory. February 2019.

“Monetary Policy and Investment Dynamics: Evidence from Disaggregate Data.” (With G. Givens.) Journal of Money, Credit and Banking. December 2018.

“Mortgage Recourse Provisions and Housing Prices.” (With A. LaRue and E. Ume.) Regional Science and Urban Economics. November 2018.

“Financial Development, Income Inequality, and the Distributional Effects of Monetary Policy.” (With E. Ghossoub.) Journal of Development Economics. May 2017.

“Free Trade Agreements and Foreign Direct Investment: The Role of Endogeneity and Dynamics.” (With B. Lee, J. Lee and C. Lira.) Southern Economic Journal. July 2016.

“Heterogeneous Returns to Knowledge Exchange: Evidence from the Urban Wage Premium.” (With C. Cunningham and M. Patton.) Journal of Economic Behavior and Organization. June 2016.

“Housing and Unemployment: The Search for the ‘American Dream’.” (With E. Ume.) Journal of Macroeconomics. June 2016.

“The Size Distribution of the Banking Sector and the Effects of Monetary Policy.” (With E. Ghossoub.) European Economic Review. April 2015.

“The Cost of Capital, Asset Prices, and the Effects of Monetary Policy.” (With E. Ghossoub.) Journal of Macroeconomics. December 2014.

“Negative Equity and Wages.” (With Chris Cunningham.) Regional Science and Urban Economics. November 2013.

“Time Inconsistency and the Long-Run Effects of Inflation.” (With K. Boulware and E. Ume.) Economics Letters. August 2013.

“The Stock Market, Monetary Policy, and Economic Development.” (With E. Ghossoub.) Southern Economic Journal.  January 2013.

Professor of Law, Uniform Law Commissioner

Education:

LL.M., University of London, London School of Economics, 1997.

J.D., Yale University, Yale Law School, 1994.

B.S.I.L.R., Cornell University, School of Industrial and Labor Relations, 1991.

Specialty Fields:

Corporate Governance, Corporate Social Responsibility, Derivatives, Financial and Business Entity Regulation, International Business Transactions, Securities Markets and Intermediaries

Selected Publications:

Justice Delayed, Justice Delivered: The Birmingham Sixteenth Street Baptist Church Bombing and the Legacy of Judge Frank Minis Johnson, Jr. (With Hon. W. Keith Watkins.) Alabama Law Review. 2020.

“Doing Business Report 2020.” (Contributor.) World Bank, International Finance Corporation.

“Doing Business Report 2019.” (Contributor.) World Bank, International Finance Corporation.

“Serving the Public with a Pen.” Alabama Law Review. 2018.

“Cooperation before Consolidation in Investor Protection.” Tulane Law Review. 2016.

“Limits on Exporting Corporate Social Responsibility through Domestic Regulation.” South Carolina Journal of International Law and Business.  2015.

“Company Law and the Law of Succession.” American Journal of Comparative Law. 2014.

“Financial Intermediaries as Principals and Agents.” Wake Forest Law Review. 2013.

“Examining the Role of Settlements in the Enforcement Process by Financial Regulators: The Example of the United States Securities and Exchange Commission.” Testimony before the Committee on Financial Services of the United States House of Representatives, published in H. Rpt. 112-128.  2012.

“‘Who Killed Katie Couric?’ and Other Tales from the World of Executive Compensation Reform.”  Fordham Law Review. 2008.

“Mickey Can You Spare a Dime? DisneyWar, Executive Compensation, Corporate Governance, and Business Law Pedagogy.” Michigan Law Review. 2007.

“Fiduciaries.” Alabama Law Review. 2007.

“Lessons on Lawyers, Democracy, and Professional Responsibility.” Georgetown Journal of Legal Ethics. 2006.

“Panel Discussion: Celebrating Thirty Years of Market Regulation.” (With Brandon Becker, Robert Colby, Richard Ketchum, Andrew Klein, Catherine McGuire, Annette Nazareth, and Lee A. Pickard.) Fordham Journal of Corporate & Financial Law. 2004.

“Is There a Role for Lawyers in Preventing Future Enrons?.” (With Jill E. Fisch.) Villanova Law Review. 2003.

Associate Professor of Economics

Education:

Ph.D., Syracuse University, 2011, Economics

Specialty Fields

Urban Economics, Public Finance, Entrepreneurship, Real Estate Economics, Economics of Crime

Selected Publications:

"Police Incentives, Policy Spillovers, and the Enforcement of Drug Crimes." (With Greg DeAngelo and Kaj Gittings.) Review of Law and Economics. March 2018.

“Economic Freedom and Racial Differences in Entrepreneurship: Evidence from U.S. States.” (With John Deskins.) Public Finance Review. March 2018.

“The Impact of Low Priority Laws on Criminal Activity: Evidence from California.” (With Anne Walker.) Contemporary Economic Policy. April 2017.

“Do Capital Tax Incentives Attract New Businesses? Evidence across Industries from the New Markets Tax Credit.” (With Kaitlyn Harger.)  Journal of Regional Science. November 2016.

“Do New Sports Stadiums Attract New Businesses?” (With Kaitlyn Harger and Brad Humphreys.) Journal of Sports Economics. June 2016.

“Can State Tax Policies be used to Grow Small Businesses?” (With Erin Borchers and John Deskins.)  Contemporary Economic Policy. April 2016.

“Does Bankruptcy Law Affect Business Turnover?  Evidence from New and Existing Businesses.” (With Shawn M. Rohlin.) Economic Inquiry. January 2016.

“Entrepreneurship and Corruption: Evidence from Brazilian Municipalities.” (With Jamie Bologna.) Public Choice. October 2015.

“The Political Economy of the Essential Air Service.” (With Joshua Hall and Christopher Yencha.) Public Choice. October 2015.

“Housing Vouchers and the Price of Rental Housing.” (With Michael D. Eriksen.) American Economic Journal: Economic Policy. August 2015.

“Tax Avoidance and Business Location in a State Border Model.” (With Shawn M. Rohlin and Stuart S. Rosenthal.) Journal of Urban Economics, September 2014.

"The Impact of Housing Vouchers on Mobility and Neighborhood Attributes.” (With Michael D. Eriksen.)  Real Estate Economics. Summer 2013.

“Crime, Police, and Truth-in-Sentencing: The Impact of State Sentencing Policy on Local Communities.”  Regional Science and Urban Economics. January 2012.

“Violent Crime, Entrepreneurship, and Cities.” (With Stuart S. Rosenthal.) Journal of Urban Economics. January 2010.

Assistant Professor of Economics

Education:

Ph.D. University of Connecticut, School of Business, 2015

Specialty Fields:

Behavioral Economics, Experimental Economics, Information Economics, Decision Theory

Selected Publications:

"A Bias Aggregation Theorem." Economics Letters. Forthcoming.

"The Utilitarian-Maximin Social Welfare Function and Anomalies in Social Choice." (With Byung-Cheol Kim.) Southern Economic Journal. Forthcoming.

"Temptation-biased Preferences for Risk and Time." Economics Letters. August 2020.

"Effects of Experience, Choice Architecture, and Cognitive Reflection in Strategyproof Mechanisms."(With David Porter.) Journal of Economic Behavior & Organization. March 2020.

“Mean-Dispersion Preferences with a Specific Dispersion Function.” (With Manuel Nunez.) Journal of Mathematical Economics. October 2019.

“Minimal Frames and Transparent Frames for Risk, Time and Uncertainty.” (With Jonathan Leland and Nathanial Wilcox.) Management Science. September 2019.

“Optimizing Choice Architectures.” (With Cary Deck, Mikhael Shor, Tibor Besedes, and Sudipta Sarangi.) Decision Analysis. March 2019.

“Ambiguity Framed.” (With Jonathan Leland, and Nathaniel Wilcox.) Journal of Risk and Uncertainty. October 2018.

“A Theory of Focal Points in 2x2 Games.” (With Jonathan Leland.) Journal of Economic Psychology. April 2018.

“Target Adjusted Utility Functions and Expected Utility Paradoxes.” (With Robert Day.) Management Science. January 2018.

“The Common Ratio Effect in Choice, Pricing, and Happiness Tasks.” (With Mikhael Shor.) Journal of Behavioral Decision Making. May 2017.

“A Dual Process Evaluability Framework for Decision Anomalies.” (With Robin Coulter.) Journal of Economic Psychology. December 2015.

“Salience and Strategy Choice in 2x2 Games.” (With Jonathan Leland.) Games. October 2015.

“Risk Aversion and Loss Aversion in Core-Selecting Auctions.” (With Robert Day and Robert Garfinkel.) Decision Support Systems. August 2015.

“A Simple Mean Dispersion Model of Ambiguity Attitudes.” (With Manuel Nunez.) Journal of Mathematical Economics. May 2015.


Finance Faculty

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William A. Powell, Jr. Chair of Finance and Banking

Professor of Finance

Education:

Ph.D., University of Pittsburgh, 1986, Finance

Specialty Fields:

Corporate Finance, Investments

Selected Publications:

“Do Women Managers Keep Firms Out of Trouble? Evidence from Corporate Litigation and Policies.” (With B. Adhikari and J. Malm.) Journal of Accounting and Economics. February 2019.

“Religion, Gambling Attitudes and Corporate Innovation.” (With B. Adhikari.) Journal of Corporate Finance. April 2016.

“Common Advisors in Mergers and Acquisitions: Determinants and Consequences.” (With T. Cooper, Q. Lian, and Q. Wang.) Journal of Law and Economics. August 2013.

“Do Analyst Conflicts Matter?  Evidence from Stock Recommendations.” (With M. Chen.) Journal of Law and Economics.  August 2008.

“Who is Afraid of Reg FD?  The Behavior and Performance of Sell-side Analysts Following the SEC’s Fair Disclosure Rules.” (With S. Chadha and M. Chen.) Journal of Business. November 2006.

“Corporate Governance and Accounting Scandals.” (With S. Chadha.) Journal of Law and Economics. October 2005.

“Do Takeover Targets Under-perform?  Evidence from Operating and Stock Returns.” (With J. Jaffe.)   Journal of Financial and Quantitative Analysis. December 2003.

“Do Some Outside Directors Play a Political Role?” (With C. Knoeber.) Journal of Law and Economics.  April 2001.

“Management Turnover and Corporate Governance Changes Following the Revelation of Fraud.” (With J. Jaffe and J. Karpoff.) Journal of Law and Economics. April 1999.

“Managerial Compensation and the Threat of Takeover.”  (With C. Knoeber.) Journal of Financial Economics. February 1998.

“Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders.”   (With C. Knoeber.) Journal of Financial and Quantitative Analysis.  September 1996.

“Does Section 16b Deter Insider Trading by Target Managers?” (With J. Jaffe.) Journal of Financial Economics. October-November 1995.

“Executive Careers and Compensation Surrounding Takeover Bids.”  (With R. Walkling.) Journal of Finance. July 1994.

“The Post-Merger Performance of Acquiring Firms:  A Re-examination of an Anomaly.” (With J. Jaffe and G.N. Mandelker.) Journal of Finance. September 1992.

Wallace D. Malone, Jr. Endowed Chair of Financial Management

Professor of Finance

Education:

Ph.D. University of Florida, 1986, Finance

Specialty Field:

Investments, Financial Derivatives, Enterprise Risk Management

Selected Publications:

“Samuelson Hypothesis, Arbitrage Activity, and Futures Term Premiums.” (With Pavel Teterin.) Journal of Futures Markets. 2020.

“The ‘Superior Performance’ of Covered Calls on the S&P 500: Rethinking an Anomaly.” (With Don Chance and Michael Hemler.) Journal of Derivatives. 2019.

“An Enterprise Perspective on Performance Attribution: Introducing the Keel Model.” Journal of Risk. December 2017.

“An Option Valuation Framework Based on Arithmetic Brownian Motion: Justification and Implementation Issues.” (With Joshua A. Brooks.) Journal of Financial Research. Fall 2017.

“Bond Portfolio Holding Period Return Decomposition.” (With Kate Upton.) Journal of Investing. Summer 2017.

“A General Option Valuation Approach to Discount for Lack of Marketability.” Business Valuation Review. Winter 2016.

“Smooth Volatility Shifts and Spillovers in U.S. Crude Oil and Corn Futures Markets.” (With Walter Enders and Pavel Teterin.) Journal of Empirical Finance. September 2016.

“Valuation of Contingent Claims.” (With David Gentle.), CFA Examination Reading, Level II and “Pricing and Valuing Forward Commitments.” (With Barbara Valbussi.) CFA Examination Reading, Level II. 2016.

“A Comparison of the Information in the LIBOR and CMT Term Structures of Interest Rates.” (With Brandon N. Cline and Walt Enders.) Journal of Banking and Finance. 2015.

An Introduction to Derivatives and Risk Management. 10th edition. (With Don M. Chance.) Fort Worth, Texas.  Thomson South-Western. 2015.

Building Financial Risk Management Applications with C++. CreateSpace Independent Publishing Platform. 2013.

“Samuelson Hypothesis and Carry Arbitrage.” Journal of Derivatives. Winter 2013.

“Private Information and the Exercise of Executive Stock Options.” (With Don M. Chance and Brandon N. Cline.) Financial Management. Fall 2012.

"Are Jumps in Stock Returns Diversifiable: Evidence and Implications for Option Pricing." (With M.J. Kim and Y.H. Oh.) Journal of Financial and Quantitative Analysis. December 1994.

William Cary Hulsey Faculty Fellow

Instructor of Real Estate

Education:

Ph.D. Georgia State University, 2010, Real Estate

M.B.A. Augusta State University, 2005, Management

B.S. University of Georgia, 1993, Real Estate           

Specialty Fields:

Real Estate Valuation, Investments and Development

Selected Publications:

“Herding Behavior among Residential Developers.” (With S. Ro. P. Gallimoro and G. Fan.) Journal of Real Estate, Finance and Economics. August 2019.

"Futures Markets and Real Estate Public Equity: Connectivity of Lumber Futures and Timber REITs." (With A. Tidwell and C. Jin.) Journal of Forest Economics. August 2017.

“Lumber Futures and Timberland Investment.” (With Alan Ziobrowski and Mark Holder.) Journal of Real Estate Research. Winter 2011.

“Testing a Forecast Model to Predict Movement of Older Americans into Retirement Housing.” (With Karen Gibler.) International Journal of Housing Markets and Analysis. Winter 2011.

“The Inflation Hedging Ability of Real Estate in China.” (With Xiaorong Zhou.) Journal of Real Estate Portfolio Management. Fall 2010.

“Experience and Real Estate Investment Decision-making: A Process Tracing Investigation.” (With Vivek Sah and Paul Gallimore.) Journal of Property Research. September 2010.

“Mixed-Use Development and Financial Factors: Part 1 – Economic and Financial Factors.” (With Joseph Rabianski, Karen Gibler and Alan Tidwell.) Real Estate Issues. Spring 2009.

“Mixed-Use Development and Financial Factors: Part 2 – Physical, Phasing, Design and Public Policy Factors.” (With Joseph Rabianski, Karen Gibler and Alan Tidwell.) Real Estate Issues. Summer 2009.

“Mixed-Use Development: A Call for Research.” (With Joseph Rabianski, Karen Gibler and Alan Tidwell.) Journal of Real Estate Literature. 2009.

Ehney A. Camp, Jr. Endowed Chair of Finance and Investments

Professor of Finance

Education:

B.S., M.B.A., University of Michigan; Ph.D. University of Texas, 1987, Finance

Specialty Field:

Corporate Finance, Financial Markets, Financial Institutions

Selected Publications:

Are Target Leverage Ratios Stable? Investigating the Impact of Corporate Asset Restructuring.” (With Xudong Fu and Tian Tang.) Journal of Empirical Finance. 2015.

“The Effect of Liquidity and Solvency Risk on the Inclusion of Bond Covenants.” (With Xudong Fu and Tian Tang.) Journal of Banking and Finance. November 2014.

“Corporate Transparency and Firm Growth:  Evidence from Real Estate Investment Trusts (REITS).” (With Heng An and Leonard Zumpano.) Real Estate Economics. Fall 2011.

On the Insider Trading of Multi-firm Directors,” (With Huabing (Barbara) Wang.)  Journal of Corporate Finance.  February 2011. 

“The Impact of Regulation FD On Institutional Investor Informativeness.” (With Tian Tang.) Financial Management. 2010.

“On the Decision to Go Public with Dual Class Stock.” (With Onur Arugaslan and Robert Kieschnick.) Journal of Corporate Finance. 2010.

“Macroeconomic Conditions and Capital Structure Adjustment Speed.” (With Tian Tang.) Journal of Corporate Finance. 2009.

“Regression Analysis of Proportions in Finance with Self Selection.” (With Robert Kieschnick and B.D. McCullough.) Journal of Empirical Finance. 2008.

“On the Marketing of IPOs.” (With Robert Kieschnick and Robert Van Ness.) Journal of Financial Economics. October 2006.

“Monitoring as a Motivation for IPO Underpricing.” (With Onur Arugaslan and Robert Kieschnick.) Journal of Finance. 2004.

"On the Timing and Execution of Open Market Repurchases.” (With Laurie Krigman and Chris Leach.) Review of Financial Studies. 2004.

"Safe Harbor or Smoke Screen? Compliance and Disclosure Under SEC Rule 10b-18." (With Laurie Krigman and Chris Leach.) Journal of Business. 2003.

"Firm and Guarantor Risk, Risk Contagion and the Interfirm Spread Among Insured Deposits." (With Lewis Spellman.) Journal of Financial and Quantitative Analysis. 1996.

"Poison Put Bonds: An Analysis of Their Economic Role." (With John Easterwood.) Journal of Finance.  1994.

Assistant Professor of Finance

Education:

Ph.D., Vanderbilt University, 2011, Finance.

Specialty Fields:

Corporate Finance, Corporate Governance, Mergers and Acquisitions, Executive Compensation, Insider Trading.

Selected Publications:

"How Does Forced CEO Turnover Experience Affect Directors?" (With J. Ellis and S. Mobbs.) Journal of Financial and Quantitative Analysis.  Forthcoming.

“Board Structure and Monitoring: New Evidence from CEO Turnovers.” (With R. Masulis.) Review of Financial Studies. June 2015.

“Tradeoffs between Internal and External Governance: Evidence from Exogenous Regulatory Shocks.” (With P. Lach and S. Mobbs.) Financial Management. March 2015.

"Globalization and Insider Trading: Evidence from Cross-Border Mergers and Acquisitions" (With X. Zhang.) Working Paper.

"How Does Unemployment Insurance Affect Takeover Market Efficiency?" (With J. Kong and R. Masulis.) Working Paper.

"Shareholder Litigation and Workplace Safety" (With N. Gong and Z. Wang.) Working Paper.

"Can Short Sellers Restraint the Shift between Accrual-Based and Real Earnings Management?" (With T. Cai.) Working Paper.

"The Role of NGO in Corporate Social Responsibility" (With Z. Wang.) Working Paper.

"CEO Personal Donating Behavior and Corporate Social Responsibility" (With L. Kong and W. Zhang.) Working Paper.

"How Costly Is Forced CEO Turnover for the CEO?" (With L. Kong and H. Yang.) Working Paper.

“Why does CEO Compensation Peer Group Include Firms from Other Industries?” (With Z. Liu.) Working Paper.

“Information Quality and CEO Turnover.” (With R. Masulis.) Working Paper

Instructor of Finance

Education:

Ph.D. University of Tennessee, 2009, Finance

B.S. University of Alabama, 2002, Finance

Specialty Fields:

Executive Compensation, Investments, Socially Responsible Investing, Financial Knowledge

Selected Publications:

“Bookcase: A Project Decision for a Public Library.” (With Don Mosley and Gwen Pennywell.) Journal of Applied Case Research. Fall 2014.

“Using Pitman Closeness to Compare Stock Return Models.” (With Al Chow and Gwen Pennywell.) International Journal of Business and Social Science. August 2014.

“A Comparison of Energy Stock Return Models Using Pitman Closeness Criterion.” (With Al Chow and Gwen Pennywell.) International Journal of Service and Standards: Special Issue - Energy Hedging and Risk Management. September 2014.

“Financial Knowledge and Student Loan Usage in College Students.” Financial Services Review: The Journal of Individual Financial Management. Winter 2013.

“Impact of SOX on Bank CEO and Director Compensation.” (With Mike Ehrhardt and Harold Black.) Journal Financial and Economic Practice. Spring 2013.

“Exchange Traded Funds Market Reaction to Option Introduction.” (With Ken Hunsader and Ross Dickens.) Banking and Finance Review. December 2012.

“The Oil Industry's Stock Price Response to the Gulf Drilling Moratorium and other Events Surrounding the Deepwater Horizon Explosion.” (With Ken Hunsader and Ross Dickens.) The Coastal Business Journal. Spring 2012.

Assistant Professor of Finance

Education:

Ph.D. Michigan State University, 2018, Finance

Specialty Fields:

Corporate Finance, Corporate Governance, Institutional Investor, Investor Behavior

Selected Publications:

“Does Money Talk? Market Discipline through Selloffs and Boycotts.” (With Nickolay Gantchev and Mariassunta Giannetti.) Working Paper.

“CEO Succession Roulette.” (With Dragana Cvijanovic and Nickolay Gantchev.) Working Paper.

“Investor Heterogeneity and Market Discipline: Evidence from Mutual Fund Adviser Misconduct.” Working Paper.

“Does Economic Comparability Discipline Financial Reporting?” (With Audra Boone, William Grieser and Parth Venkat.) Working Paper.

“Shareholder Satisfaction with Overlapping Directors.” (With Miriam Schwartz-Ziv.) Working Paper.

“How Organizational Permissiveness Mediates the Effect of Strategy on Innovation and Wrongdoing.” (With William Grieser, Ryan Adam Krause, Richard L Priem, and Andrei Simonov.) Working Paper.

Assistant Professor of Finance

Education:

Ph.D. Boston College, 2016, Finance

Specialty Fields:

Corporate Finance, Corporate Innovation, Internal Capital Markets, and Initial Public Offerings 

Selected Publications: 

“Insider Trading and Shareholder Investment Horizons.” (With Xudong Fu, Lori Tang, and Xinyan Yan.) Journal of Corporate Finance. June 2020.

“Government Spending and Corporate Innovation.” Management Science. April 2020. 

“Top Management Human Capital, Inventor Mobility, and Corporate Innovation.” (With Thomas Chemmanur, Karthik Krishnan, and Qianqian Yu.) Journal of Financial and Quantitative Economics. December 2019.

“Human Capital, Management Quality, and Firm Performance.” (With Thomas Chemmanur, Karthik Krishnan and Qianqian Yu.) Working Paper.

“Internal Capital Markets in Conglomerate Firms: Evidence from Presidential Cycles.” (With Darren Kisgen.) Working Paper.

“Product Consumption and Information Digestion.” (With Chengwei Wang.) Working Paper.

"Inter-state Trade Network and Merger Propagation." (With Xinyan Yan.) Working Paper.

John S. Bickley Faculty Fellow

Professor of Finance

Education:

Ph.D. University of Texas at Austin, 1977, Finance

CFA, CFP, CLU, CVA

Specialty Fields:

Financial Institutions and Markets, Personal Financial Planning

Selected Publications:

State Pension Reform: What Have They Accomplished?” (With Marty Hanby, Robert Tennant and Srinidhi Kanuri.) Journal of Accounting and Finance. December 2019.

“Performance of Dividend ETFs During Bull and Bear Markets.” (With Srinidhi Kanuri and D. K. Malhotra.) The Journal of Index Investing. Summer 2017.

“Sustainable Competitive Advantage and Stock Performance: The Case for Wide Moat Stocks.” (With Srinidhi Kanuri.) Applied Economics. May 2016.

“An Empirical Examination of the Performance of Commodity Mutual Funds.” (With Srinidhi Kanuri and D. K. Malhotra.) The Journal of Wealth Management. Spring 2016.

“Does it Pay to Diversify Internationally: U.S. vs International ETF’s”. (With Srinidhi Kanuri.) Financial Services Review. Fall 2015.

“Performance of Alternative Mutual Funds.” (With S. Kanuri.) Financial Services Review.  Summer 2014.

“Bad News Bears: Effects of Expected Market Volatility on Daily Tracking Error of Leveraged Bull and Bear ETFs.” (With H. Holzhauer, X. Lu and J. Mehran.) Managerial Finance. December 2013.

“Determinants of Cost Efficiencies in the Closed-End Fund Industry.” (With D.K. Malhotra and Rand Martin.) Financial Services Review. Summer 2009.

“Closed-End Fund Expenses and Investment Selection.” (With D.K. Malhotra.) Financial Review.    February 2000.

“An Analysis of Nondeductible IRA Contributions and Roth IRA Conversions,” (With S. Horan and J. Peterson.)  Financial Services Review.  Summer 1998.

"An Empirical Analysis of Mutual Fund Expenses.” (With D. K. Malhotra.) The Journal of Financial Research.  Summer 1997.

"The Effect of Rule 12b-1 on Bond Fund Expense Ratios." (With D. K. Malhotra.) The Journal of Economics and Finance. April 1996.

"A Reexamination of Equity Fund Expense Ratios and 12b-1 Plans.” (With D. K. Malhotra.) Journal of Financial Research.  Summer 1994.

"Interest Rates and Bank Portfolio Adjustments."(With P. Thistle and B. L. Conrad.) Journal of Banking and Finance. 1989

Thomas D. Russell Professor of Business

Associate Professor of Finance

Education:

Ph.D. Vanderbilt University, 2008, Finance

Specialty Fields:

Corporate Governance, Executive Compensation, Mergers and Acquisitions

Selected Publications:

“How Does Forced-CEO-Turnover Experience Affect Directors?” (With Jesse Ellis and Lixiong Guo.) Journal of Financial and Quantitative Analysis. Forthcoming.

“Overconfident Directors.” (With Randy Beavers.) Financial Management. June 2020.

“Firm CFO Board Membership and Departures.” Journal of Corporate Finance. June 2018.

“Is an Outside Chair Always Better? The Role of Non-CEO Inside Chairs on Corporate Boards.” Financial Review. October 2015.

“Tradeoffs between Internal and External Governance: Evidence from Exogenous Regulatory Shocks.” (With Patrick Lach and Lixiong Guo.) Financial Management. March 2015.

“Independent Director Incentives: Where do Talented Directors Spend their Limited Time and Energy?” (With Ronald W. Masulis.) Journal of Financial Economics. February 2014.

“CEO’s Under Fire: The Effects of Directors on CEO Compensation and Turnover.” Journal of Financial and Quantitative Analysis. June 2013.

“Internal Managerial Promotions: Insider Incentives and CEO Succession.” (With Charu Raheja.) Journal of Corporate Finance. December 2012.

“Are All Inside Directors the Same? Do they entrench CEO’s or enhance board decision making?” (With Ronald W. Masulis.) Journal of Finance. June 2011.

“Independent Director Reputation Incentives: CEO Compensation Contracting and Financial Reporting.” (With Ronald W. Masulis.) Working Paper.

“CEO Selection and Executive Appearance.” (With Doug Cook.) Working Paper.

“Independent Directors and Corporate Litigation.” (With James Malm.) Working Paper.

“Derivatives and Governance.” (With Robert Brooks and Troy Pollard.) Working Paper.

Professor of Finance

Education:

Ph.D., University of Georgia, 2003, Finance

Specialty Fields:

Corporate Finance, Investments

Selected Publications:

“CEO Gender and Financial Statement Irregularities.” (With Vishal Gupta, Bidisha Chakrabarty, Xiaohu Guo, and Daniel Turban.) Academy of Management Journal. June 2020.

“Do Women CEOs Face Greater Threat of Shareholder Activism Compared to Male CEOs? A Role Congruity Perspective.” (With V. Gupta, S. Han and S. Silveri.) Journal of Applied Psychology. 2018.

“Revisiting the Gender Gap in CEO Compensation: Replication and Extension of Hill, Upadhay, and Beekun’s (2015) Work on CEO Gender Pay Gap.” (With V. Gupta and X. Guo.) Strategic Management Journal. 2018.

“The Role of Firm Investment in Momentum and Reversal.” (With M. Schill.) Journal of Empirical Finance. 2018.

The Impact of Market Structure on Ex-Dividend Day Stock Price Behavior.” (With S. Paudel and S. Silveri.) Financial Management. 2017.

“Market Illiquidity and Conditional Equity Premium.” (With H. Guo, R. Savickas, and R. Wood.) Financial Management. 2017.

“The Post-Acquisition Returns of Stock Deals: Evidence of the Pervasiveness of the Asset Growth Effect.” (With M. Schill.) Journal of Financial and Quantitative Analysis. 2015.

“The Real Effects of Being Public: evidence from public and private firms.” (With N. Reisel.) Journal of Financial and Quantitative Analysis. 2013.

“On the Scope and Drivers of the Asset Growth Effect.” (With M. Lipson and M. Schill.) Journal of Financial and Quantitative Analysis. 2011.

“Do Firms Believe in Interest Rate Parity?” (With M. McBrady and M. Schill.) Review of Finance. 2010.

“Corruption. Political Connections and Municipal Finance.” (With A. Butler and L. Fauver.) Review of Financial Studies. 2009.

“Liquidity and Capital Structure.” (With M. Lipson.) Journal of Financial Markets. 2009.

“Stock Market Liquidity and the Decision to Repurchase.” (With P. Brockman and J. Howe.) Journal of Corporate Finance. 2008.

“Liquidity and Firm Characteristics: Evidence from Mergers and Acquisitions.” (With M. Lipson.) Journal of Financial Markets. 2007.

Robert Hunt Cochrane/Alabama Banker’s Endowed Chair of Banking

Associate Professor of Finance

Education:

Ph.D., Michigan State University, 2007, Finance.

Specialty Fields:

Banking, Corporate Finance

Selected Publications:

“Hiring Your Friends: Evidence from the Market for Financial Economists.” (With C. J. Hadlock.) Industrial and Labor Relations Review. Forthcoming.

“Robust Models of CEO Turnover: New Evidence on Relative Performance Evaluation.” (With C. E. Fee, C. J. Hadlock, and J. Huang.) Review of Corporate Finance Studies. March 2018.

“New Evidence on Managerial Labor Markets: An Analysis of CEO Retreads.” (With C. E. Fee and C. J. Hadlock.) Journal of Corporate Finance. February 2018.

“Bank Debt, Flexibility, and the Use of Proceeds from Asset Sales.” (With C. E. Fee, H. Seo, and S. Yan), Journal of Financial Services Research. August 2014.

“Managers With and Without Style: Evidence using Exogenous Variation.” (With C. E. Fee and C. J. Hadlock.) Review of Financial Studies. March 2013.

“What Happens in Acquisitions? Evidence from Brand Sales and Advertising Expenditures.” (With C. E. Fee and C.J. Hadlock.) Journal of Corporate Finance. June 2012.

“New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index."(With C. J. Hadlock.) Review of Financial Studies. May 2010.

“Investment, Financing Constraints, and Internal Capital Markets: Evidence from the Advertising Expenditures of Multinational Firm.” (With C. E. Fee and C. J. Hadlock.) Review of Financial Studies. June 2009.

“Promotions in the Internal and External Labor Market: Evidence from Professional Football Coaching Careers.” (With C. E. Fee and C. J. Hadlock.) Journal of Business. March 2006.

“Business School Rankings and Business School Deans: A Study of Nonprofit Governance.” (With C. E. Fee and C. J. Hadlock.) Financial Management. Spring 2005.

Associate Professor of Finance

Education:

Ph.D., University of Pennsylvania, 2009, Finance

Specialty Fields:

Behavioral Finance, Asset Management, Real Estate

Selected Publications:

"Value Implications of REITing and De-REITing." (With D. Ling, A. Tidwell, and L. Xu.) Journal of Real Estate Finance and Economics. Forthcoming.

“How Do Personal Real Estate Transactions Affect Productivity and Risk Taking? Evidence from Professional Asset Managers.” (With D. Ling and Y. Lu.) Real Estate Economics. Forthcoming.

"Prime (information) brokerage." (With N. Kumar, K. Mullally, and Y. Tang.) Journal of Financial Economics. August, 2020.

“Can Brands Circumvent Marketing Regulations? Exploiting Umbrella Branding in Financial Markets.” (With Y. Lu, D. Mitra, and D. Musto.) Marketing Science. 2020.

“Sensation Seeking and Hedge Funds.” (With S. Brown, Y. Lu, and M. Teo.) Journal of Finance. December 2018.

 “Limited Attention, Marital Events, and Hedge Funds.” (With Y. Lu and M. Teo.) Journal of Financial Economics. December 2016

“Too Good to be True? An Analysis of the Options Market's Reactions to Earnings Releases.” (With Y. Lu.) Journal of Business, Finance & Accounting. July/August 2016

“Under One Roof: A Study of Simultaneously Managed Hedge Funds and Funds of Hedge Funds.” (With V. Agarwal and Y. Lu.) Management Science. March 2016.

“Informational Linkages Between Dark and Lit Trading Venues.” (With M. Nimalendran.) Journal of Financial Markets. January 2014.

“The Downside of High Water Marks: An Empirical Study.” Journal of Investment Management. 2nd Quarter 2012

“An Efficiency Perspective on the Gains from Mergers and Asset Purchases” (With M. Warusawitharana.) B.E. Journal of Economic Analysis & Policy. October 2009.

Alabama Association of Realtors Chair of Real Estate

Associate Professor of Finance

Education:

Ph.D., Georgia State University, 2011, Real Estate

Specialty Fields:

Housing, Valuation, Investments, Financial Planning

Selected Publications:

"Residential Housing Market and Bank Stability: Focusing on OECD and Emerging Asian Countries." (With S. Lee and C. Jin.) The Journal of Real Estate Research. Forthcoming.

"Value Implications of REITing and De-REITing." (With D. Ling, S. Ray, and L. Xu.) The Journal of Real Estate Finance and Economics. August 2020.

"Valuing Curb Appeal." (With E. Johnson and S. Villupuram.) The Journal of Real Estate Finance and Economics. February 2020.

“Structural Breaks: A Shift of Roles in the Relationship between Real Estate and Regional Industry.” (With Changha Jin and Philip Seagraves.) Journal of Housing Research. April 2019.

“Sample Selection Approaches to Estimating and Allocating House Transaction Funding Price Differentials.” (With A. Jauregui and V. Sah.) The Journal of Real Estate Finance and Economics. April 2019.

“Housing Preferences of Asian and Hispanic/Latino Immigrants in the United States: A Melting Pot or Salad Bowl.” (With Y. Wu, and V. Sah.) Real Estate Economics. December 2018.

“Cash and Distressed House Sales Price Discounts: Dual Sample Selection Spatial Interdependence Approaches.” (With A. Jauregui, V. Sah, and A. Narwold.) The Journal of Real Estate Finance and Economics. January 2018.

"Futures Markets and Real Estate Public Equity: Connectivity of Lumber Futures and Timber REITs." (With S. Clements and C. Jin.) Journal of Forest Economics. August 2017.

“Sample Selection Approaches to Estimating House Price Cash Differentials.” (With A. Jauregui, and D. Hite.) The Journal of Real Estate Finance and Economics. January 2017.

“Inflation-hedging properties of regional Chinese real estate market: evidence from 35 cities in China.” (With Y. Wu and V. Sah.) Applied Economics. September 2015.

“The US Housing Market and the Pricing of Risk: Fundamental Analysis and Market Sentiment.” (With C. Jin and G. Soydemir.) Journal of Real Estate Research. Issue 2, 2014.

“The Influence of a Decision Support Tool on Real Estate Valuations.” (With P. Gallimore.) Journal of Property Research. January 2014.

“The Information Content and Transparency of REIT Credit Rating Actions.” (With A. Ziobrowski, P. Gallimore, and S. Ro.) Journal of Real Estate Research. Issue 3, 2013.

Assistant Professor of Finance

Education:

Ph.D. The University of Texas at Austin, 2017, Finance

Specialty Fields:

Empirical Corporate Finance, Institutional Investors, ESG Investing, Accounting Fraud

Selected Publications:

“Product Differentiation, Benchmarking, and Corporate Fraud.” (With Audra Boone, William Grieser and Rachel Li.) Working Paper.

“Corporate ESG Profiles and Investor Horizons.” (With Laura Starks, and Qifei Zhu.) Working Paper.

“Funding, Investment and Wealth Equalization across Texas Public School Districts.” (With Melinda Petre.) Working Paper.

Frank Park Samford Chair of Insurance

Professor of Finance

Education:

Ph.D., University of Chicago, 2000, Economics.

Specialty Fields:

Insurance; Financial Institutions

Selected Publications:

"Dynamic Capital Allocation with Irreversible Investments." (With D. Bauer, S. Kamiya, and X. Ping.) Insurance: Mathematics and Economics. March 2019.

“What Drives Tort Reform Legislation? Economics and Politics of the State Decisions to Restrict Liability Torts.” (With Y. Deng.)  Journal of Risk & Insurance. December 2018.

“Egalitarian Equivalent Capital Allocation.”  (With S. Kamiya.)  North American Actuarial Journal.  September 2017.

“The Marginal Cost of Risk, Risk Measures, and Capital Allocation.”  (With D. Bauer.)  Management Science.  May 2016.

“Economic Analysis of Risk and Uncertainty Induced by Health Shocks: A Review and Extension.”  (With T. J. Philipson.)  In Handbook of the Economics of Risk and Uncertainty, Volume 1. Elsevier. 2014.

“Capital Allocation and Its Discontents.”  (With D. Bauer.)  In Handbook of Insurance  (2nd edition). Springer. 2013.

“Financial Pricing of Insurance.”  (With D. Bauer and R. D. Phillips.)  In Handbook of Insurance (2nd edition).  New York: Springer. 2013.

“Insurance Risk, Risk Measures, and Capital Allocation: Navigating a Copernican Shift.”  (With M. R. Powers.) Annual Review of Financial Economics.  November 2013.

“Catastrophe Bonds, Reinsurance, and the Optimal Collateralization of Risk Transfer.”  (With D. Lakdawalla.) Journal of Risk & Insurance.  June 2012.

“An Economic Approach to Capital Allocation.”  Journal of Risk and Insurance.  September 2010.

“Federal Financial Exposure to Catastrophic Risk.”  (With J.D. Cummins and M. Suher.)  In Measuring and Managing Federal Financial Risk.  University of Chicago Press. 2010.

“Regulation, Capital, and the Evolution of Organizational Form in U.S. Life Insurance.”  American Economic Review.  June 2007.

“Insurance, Self Protection, and the Economics of Terrorism.”  (With D. Lakdawalla.)  Journal of Public Economics.  September 2005.

“Pricing and Capital Allocation in Catastrophe Insurance.”  Journal of Financial Economics.  August 2002.


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