The Robert T. LeClair Finance Department Seminar Series

FALL 2017 SEMINAR SERIES

Seminars are held on Fridays at 1:30 in Bartley Hall 1010.

DATE PRESENTER  PAPER
September 22, 2017 Adam Reed
University of North Carolina at Chapel Hill     
"Anomaly Time"
October 20, 2017 Ronnie Sadka
Boston College
Media reinforcement in international financial markets
November 17, 2017 Avanidhar Subrahmanyam
University of California, Los Angeles
"Return-Based Factors for Corporate Bonds"
December 1, 2017 David Harrison
University of Central Florida
TBD

SPRING 2018 SEMINAR SERIES

DATE PRESENTER PAPER
February 9, 2018 Itay Goldstein
The Wharton School, University of Pennsylvania
TBD
March 2, 2018 Clemens Sialm
University of Texas at Austin
TBD
April 13, 2018
Gjergji Cici
College of William and Mary
TBD
April 27, 2018 Heather Tookes
Yale University
TBD

BROWN BAG SERIES

DATE

PRESENTER

PAPER

TBD TBD TBD

PRESENTER BIOGRAPHIES

Adam Reed

Michael Weisbach

Adam Reed, Professor of Finance and the Julian Price Distinguished Scholar of Finance at the University of North Carolina, Chapel Hill, researches short selling, equity lending, capital markets and mutual funds. The Journal of FinanceThe Journal of Financial Economics and the Review of Financial Studies have published his research, which also has been featured in several books. The Wall Street Journal, Bloomberg and The New York Times have cited his research.  He is also a research consultant for the Securities and Exchange Commission, and worked as a research assistant for the Board of Governors of the Federal Reserve System.

Adam has spoken at conferences hosted by organizations across the United States and around the world, including for Goldman Sachs Asset Management, National Bureau of Economic Research, Securities and Exchange Commission, Board of Governors of the Federal Reserve, New York Federal Reserve, Mellon Bank, Pension Investment Association of Canada, Financial Management Association, European Finance Association and the American Finance Association.  He is also a member of the board of academic directors for Quadriserv Inc., and serves on the board of directors for Polyglot and the N.C. State Employees Credit Union Local Advisory Board.

Avanidhar (Subra) Subrahmanyam

Laura Starks

Avanidhar (Subra) Subrahmanyam is a Distinguished Professor of Finance and the Goldyne and Irwin Hearsh Chair in Money and Banking at UCLA, Anderson School of Management. Professor Subrahmanyam is an expert in stock market activity and behavioral finance. He is known for his pathbreaking research in the use of psychological principles to explain stock price movements and has published numerous articles in leading peer-reviewed finance and economics journals. Appearing frequently in the media, Subrahmanyam is consulted for his expertise on the superior performance of value stocks and the phenomenon of stock market momentum to analyze spikes in gasoline prices, herd-like behavior around Apple stock, uncertainty in everyday use of the bitcoin crypto-currency and the effects of war on the stock market.

Subrahmanyam’s current research interests range from the relationship between the trading environment of a firm’s stock and the firm’s cost of capital to behavioral theories for asset price behavior and empirical determinants of the cross-section of equity returns. A founding editor of the Journal of Financial Markets, Subrahmanyam previously served as associate editor of the Review of Financial Studies and the Journal of Finance. He is a member of the National Bureau of Economic Research’s Working Research Group on Market Microstructure.

Ronnie Sadka

Crocker Liu

Professor Ronnie Sadka is the senior associate dean for faculty, chairperson and professor of Finance, and the Seidner Family Faculty Fellow at the Carroll School of Management, Boston College. His research focuses on the liquidity in financial markets. More recently, he has been developing big-data driven investment applications. Sadka is a frequent speaker at academic and practitioner conferences; his work has appeared in various outlets including Journal of Finance, Journal of Financial Economics, Journal of Accounting Research, Journal of Accounting and Economics, Journal of Financial and Quantitative Analysis, and Financial Analysts Journal, and has been covered by New York Times, Wall Street Journal, and CNBC.

Prior academic experience includes teaching at the University of Chicago (Booth), New York University (Stern), Northwestern University (Kellogg), and the University of Washington (Foster). Industry experience includes Goldman Sachs Asset Management and Lehman Brothers (quantitative strategies). Sadka recently served on the economic advisory board of NASDAQ OMX. Professor Sadka earned a B.Sc. (Magna Cum Laude) in industrial engineering and a M.Sc. (Summa Cum Laude) in operations research, both from Tel-Aviv University. He received a Ph.D. in finance from Northwestern University (Kellogg).

David Harrison

Allen Berger

Professor David M. Harrison, Ph.D., is the Howard Philips Eminent Scholar Chair and Professor of Real Estate in the Dr. P. Phillips School of Real Estate at the University of Central Florida (UCD), and the former president of the American Real Estate Society (ARES). His primary research interests involve real estate investment trusts and mortgage markets. He is the author of over 40 peer-reviewed journal articles, including numerous publications in leading academic real estate outlets such as Real Estate Economics, Journal of Real Estate Finance and Economics, Journal of Real Estate Research, and Journal of Urban Economics. 11 of these articles received “best paper” awards. In 2007, Professor Harrison was awarded the William N. Kinnard award by the American Real Estate Society, in recognition of “substantial contributions to the field of real estate research achieved under the age of 40.”

Professor Harrison received his Ph.D. from the University of Florida, and prior to joining the faculty at UCF was on faculty at Texas Tech and the University of Vermont.

Itay Goldstein  

Viral Acharya

Itay Goldstein is the Joel S. Ehrenkranz Family Professor in the Finance Department at the Wharton School of the University of Pennsylvania. He is also the coordinator of the Ph.D. program in Finance. He holds a secondary appointment as a Professor of Economics at the University of Pennsylvania. He has been on the faculty of the Wharton School since 2004. Professor Goldstein earned his Ph.D. in Economics in 2001 from Tel Aviv University. He is an expert in the areas of corporate finance, financial institutions, and financial markets, focusing on financial fragility and crises and on the feedback effects between firms and financial markets. His research has been published in top academic journals, including the American Economic Review, the Journal of Finance, the Journal of Financial Economics, the Review of Economic Studies, and the Review of Financial Studies. His research has also been featured in the popular press in the Economist, Wall

Street Journal, Financial Times, Bloomberg, Forbes, National Public Radio, and others. Professor Goldstein is an editor of the Review of Financial Studies. He has been an editor of the Finance Department in Management Science and an editor of the Journal of Financial Intermediation. He has served as an academic advisor at the Federal Reserve Banks of New York, Philadelphia, and Richmond, the Bank of Canada, and the Committee for Capital Markets Regulation.

He was the cofounder and the first president of the Finance Theory Group. He has taught various undergraduate, M.B.A., Ph.D., and executive education courses in finance and economics. Prior to joining Wharton, Professor Goldstein has served on the faculty of Duke University’s Fuqua School of Business. He received his Ph.D, M.A and B.A from Tel-Aviv University and has also worked in the research department of the bank of Israel.

Clemens Sialm

David Becher

Clemens Sialm is a Professor of Finance and Economics, the Eleanor T. Mosle Fellow, and the Director of the AIM Investment Center at the University of Texas at Austin. He is also a Research Associate in the Asset Pricing and Public Economics programs of the National Bureau of Economic Research (NBER). Professor Sialm’s research interests are in the areas of investments, asset pricing, and taxation. He analyzes the investment strategies, performance, and behaviors of institutional and individual investors. He also investigates investment decisions of retirement savers. His research has been published in the American Economic Review, the Journal of Finance, the Review of Financial Studies, Management Science, and the Journal of Public Economics, among others. He obtained in 2011 the Research Excellence Award from the McCombs School of Business. Professor Sialm’s research has been frequently cited in The Wall Street Journal, The New York Times, and The Economist.

Professor Sialm received an M.A. in economics from the University of St.Gallen in Switzerland and a Ph.D. in economics from Stanford University. Prior to joining the University of Texas, he taught at Stanford University and the University of Michigan in Ann Arbor. He has also been the the Mark and Sheila Wolfson Distinguished Visiting Associate Professor at the Stanford Institute for Economic Policy Research.

Gjergji Cici

Brent Ambrose

Gjergji Cici is the Thomas L. Owen Professor of Finance and Associate Professor at the Raymond A. Mason School of Business of the College of William and Mary. Professor Cici is also a Research Fellow at the Centre for Financial Research at the University of Cologne, Germany. Professor Cici's current research interests include portfolio performance evaluation, agency issues in the mutual fund and hedge fund industry, and behavioral finance. His research has been published in The Journal of Financial Economics, Review of Financial Studies, Journal of Financial and Quantitative Analysis, Real Estate Economics, Journal of Financial Intermediation, and Journal of Banking and Finance. His paper on the pricing practices of mutual funds won the Society of Quantitative Analysts Award for the best paper in quantitative investments at the Western Finance Association 2008 Conference. Professor Cici's research has been featured in more than 30 articles in the business press, including the Financial Times, New York Times, Wall Street Journal, Barron's, Bloomberg, and Pensions & Investments.

Professor Cici received his Ph.D. in Finance from the University of Minnesota's Carlson School of Management. After receiving his doctorate, he became Associate Director of Research for Wharton Research Data Services (WRDS) at the Wharton School of Business.

Heather Tookes

Ayan

Heather Tookes is a Professor of Finance at the Yale School of Management. Professor Tookes’ research lies at the intersection of capital markets and corporate finance. Much of her earlier work focuses on understanding the ways in which credit market frictions can impact firms’ financing decisions. She has a particular interest in credit default swap and convertible bond markets. In another line of research, Professor Tookes has linked firms’ competition in product markets to various aspects of corporate finance. For example, she has a recent paper that identifies the effects of initial public offerings on rival firms.

Professor Tookes has been on the faculty of Yale School of Management since 2004. She received her Ph.D. in Finance from Cornell and her B.A. in Economics from Brown.

For More Information

2017-2018 seminar schedule is organized by Rabih Moussawi and Caitlin Dannhauser. Please contact either Rabih or Caitlin for more information.

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