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Biography
Education
Ph. D., University of North Carolina, 1995; MBA Wake Forest University, B.A. (Hons) Delhi University
Research Areas
Institutional trading (market microstructure), delegated portfolio management, trading strategies, corporate finance
Recent Consulting
Dimensional Fund Advisors
Current Projects
Performance persistence in institutional investment management; trading by crossing, co-movement and return predictability; exchange traded funds; competition and performance.
Academic Positions Held
Arizona State University: 2005-present; Emory University: Associate Professor and Area Chair, 1997-2005; Purdue University: Assistant Professor, 1995-1997.
Career and Recent Professional Awards; Teaching Awards
Q Group Research Award
Representative Publications
"Grandstanding, Certification and the Underprice of Venture Capital Backed IPOs," with Peggy Lee, Journal of Financial Economics, 73, 2004, 375-407.
"Institutional Trading and Alternative Trading Systems," with Jennifer Conrad and Kevin Johnson, Journal of Financial Economics, 70, 2003, 99-134.
"Momentum Trading by Institutions," with S. G. Badrinath, Journal of Finance, December 2002, 2449-2478.
"Agency Conflicts in Closed-End Funds: The Case of Rights Offerings," with Ajay Khorana and Marc Zenner, Journal of Financial and Quantitative Analysis, 37 (2), 2002.
"Institutional Trading and Soft Dollars," with Jennifer Conrad and Kevin Johnson, Journal of Finance, 56, 2001.
ASU is a tier 1 research university and W. P. Carey is proud of its strong tradition of teaching and classroom excellence. Our students directly benefit from the research and theories our faculty brings into the classroom. Below is a list of courses being taught during the current semester by this faculty member. Click a course to view it in the ASU course catalog.
DBA 703 - Glob FIN Sys Institute Invest
A large fraction of investors around the world invest in securities markets indirectly, viz. through mutual funds or separate accounts established with investment managers, whether they be endowments, foundations, pension plans or sovereign funds. Exposes students to the global marketplace for such portfolios.
