Research Interests

Behavioral finance; empirical asset pricing; corporate finance; computational economics

Featured Publications

• 
  Political Contributions and Analyst Behavior (with Danling Jiang and Kelvin Law). Review of Accounting Studies, 21 (1), 37-88.
  
  Analysts, Macroeconomic News, and the Benefit of In-House Economists (with Artur Hugon and An-Ping Lin). Accounting Review, 91 (2), 513-534.
  
  Gambling and Comovement (with Jeremy Page and Oliver Spalt). Journal of Financial and Quantitative Analysis, 51 (1), 85-111.
  
  Political Values, Culture, and Corporate Litigation (with Irena Hutton and Danling Jiang). Management Science, 61 (12), 2905-2925.
  
  What is in a Name? Mutual Fund Flows When Managers Have Foreign Sounding Names (with Alexandra Niessen-Ruenzi and Oliver Spalt). Review of Financial Studies, 28 (8), 2281-2321.
  
  Home Away From Home: Economic Relevance and Local Investors (with Gennaro Bernile and Johan Sulaeman). Review of Financial Studies, 28 (7), 2009-2049.
  
  Weather-Induced Mood, Institutional Investors, and Stock Returns (with William N. Goetzmann, Dasol Kim, and Qin Wang). Review of Financial Studies, 28 (1), 73-111.
  
  Corporate Policies of Republican Managers (with Irena Hutton and Danling Jiang). Journal of Financial and Quantitative Analysis, 49 (5-6), 1279-1310.
  
  Deviations From Norms and Informed Trading (with Jeremy Page). Journal of Financial and Quantitative Analysis, 49 (4), 1005-1037.
  
  Income Hedging and Portfolio Decisions (with Yosef Bonaparte and George Korniotis). Journal of Financial Economics, 113 (2), 300-324.
  
  Information Acquisition and Confirmation Bias in Virtual Communities: Evidence from Stock Message Boards (with Bin Gu, Prabhudev Konana, JaeHong Park, and Raj Raghunathan). Information Systems Research, 24 (4), 1050-1067.
  
  State-Level Business Cycles and Local Return Predictability (with George Korniotis). Journal of Finance, 68 (3), 1037-1096.
  
  Investor Sentiment and Return Comovements: Evidence from Stock Splits and Headquarters Changes (with Jeremy Page and Oliver Spalt). Review of Finance, 17 (3), 921-953.
  
  Speculative Retail Trading and Asset Prices (with Bing Han). Journal of Financial and Quantitative Analysis, 48 (2), 377-404.
  
  Political Activism, Information Costs, and Stock Market Participation (with Yosef Bonaparte). Journal of Financial Economics, 107 (3), 760-786.
  
  Do Portfolio Distortions Reflect Superior Information or Psychological Biases? (with George Korniotis). Journal of Financial and Quantitative Analysis, 48 (1), 1-45. Lead Article.
  
  Local Investors and Corporate Governance (with Vidhi Chhaochharia and Alexandra Niessen- Ruenzi). Journal of Accounting and Economics, 54 (1), 42-67, 2012.

Teaching and Professional Experience

• Chief Investment Officer, Coral Gables Asset Management, January 2015 – August 2016
• Department Chair, Finance, Miami Herbert Business School, 2014-17, 2018-2020
• Professor, Finance, University of Warwick Business School, 2012 - 2015
• Gabelli Asset Management Professor, Finance, Miami Herbert Business School, 2011 - Present
• Cesarano Scholar and Professor, Finance, University of Miami School of Business Administration, 2010
• Associate Professor, Finance, University of Texas at Austin McCombs School of Business, 2010 - 2011
• Assistant Professor, Finance, University of Texas at Austin McCombs School of Business, 2006 - 2010
• Assistant Professor, Finance, University of Notre Dame Mendoza College of Business, 2003 - 2006
• Consultant, Commonfund Securities, 1999 - 2001
• Principal Consultant, Applications Consulting Group, Oracle Corporation, 1994 - 1998

Specialties

• Behavioral science
• Investments
• Corporate finance

Degrees

• Ph.D., Economics, Cornell University, 2003
• Economics, Cornell University, 2003
• Management, Finance, Yale University, 2001
• M.E., Engineering Management, Dartmouth College, 1993
• M.S., Engineering Science, Robotics, Dartmouth College, 1992
• B.Tech., Mechanical Engineering with honors, Indian Institute of Technology (Kharagpur, India), 1991

Honors and Awards

• Outstanding Teacher Award, University of Miami School of Business Administration, 2011
• Faculty Honor Roll for Teaching Excellence, Undergraduate Business Council, University of Texas at Austin, 2009
• CBA Foundation Research Excellence Award for Assistant Professors, McCombs School of Business, University of Texas at Austin, 2009
• BSI Gamma Foundation Research Grant, 2006
• Sage Fellowship, Cornell University, 2001 - 2003
• Yale University Fellowship, 1998 - 2000