Alok Kumar
Gabelli Asset Management Professor, Finance
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