Michael Hertzel

Professor/Dean's Council of 100 Distinguished Scholar
Faculty
TEMPE Campus
Mailcode
3906
Professor
Faculty
TEMPE Campus
Mailcode
3906

Education

  • PhD  University of Oregon, 1988
  • MS  University of Rochester, 1980
  • MBA  University of Rochester, 1977
  • BA  University of Rochester, 1974

Publications

  • "Why do Hedge Funds Avoid Disclosure? Evidence from Confedential 13F Filings," (with George Aragon and Zhen Shi), July 2012, Journal of Financial and Quantitative Analysis, forthcoming.
  • "Staging in Public Equity Markets," (with Mark Huson and Robert Parrino), 2012, Journal of Financial Economics, forthcoming.
  • "Industry Contagion in Loan Spreads," with Micah Officer, Journal of Financial Economics, 103(3), 2012.
  • "Behavioral and Rational Explanations of Stock Price Performance Around SEOs: Evidence From a Decomposition of Market-to-Book Ratios," (with Zhi Li), Journal of Financial and Quantitative Analysis, 45(4), Augutst 2010. 
  • "Inference from Streaks in Random Outcomes: Experimental Evidence on Beliefs in Regime-Shifting and the Law of Small Numbers," (with Elena Asparouhova and Michael Lemmon), Management Science, Vol 55, No. 11, November 2009.
  • "Inter-firm Linkages and the Wealth Effects of Financial Distress along the Supply Chain," (with Zhi Li, Micah Officer and Kimberly Rodgers), Journal of Financial Economics, 87 (2), February 2008.
  • "Earnings Management Around Employee Stock Option Reissues," (with Jeffrey Coles and Swaminathan Kalpathy), Journal of Accounting and Economics, 41 (1-2), April 2006.
  • "The Market Impact of Trends and Sequences in Performance: New Evidence," (with Greg Durham and J. Spencer Martin), Journal of Finance, 60 (5), October 2005.

Research Activity

  • "Legal Institutions and Capital Raising Activities of Newly Public Firms," (with Aziz Alimov), June 2012
  • "Cross-Border Private Equity Investment and Third-Best Contracting," (with Ana Balcarcel and Laura Lindsey), June 2012.

Courses

Fall 2016
Course NumberCourse Title
FIN 303Honors Finance
FIN 361Advanced Managerial Finance
FIN 502Managerial Finance
Fall 2015
Course NumberCourse Title
FIN 303Honors Finance
FIN 502Managerial Finance
Fall 2014
Course NumberCourse Title
FIN 303Honors Finance
FIN 502Managerial Finance
Spring 2014
Course NumberCourse Title
FIN 361Advanced Managerial Finance
FIN 493Honors Thesis
Fall 2013
Course NumberCourse Title
FIN 493Honors Thesis
Spring 2013
Course NumberCourse Title
FIN 493Honors Thesis
Fall 2012
Course NumberCourse Title
FIN 361Advanced Managerial Finance
FIN 493Honors Thesis
Summer 2012
Course NumberCourse Title
FIN 493Honors Thesis

Honors/Awards

  • Fama-DFA Prize, Journal of Financial Economics, 2008
  • Richard C. Kraemer Professor of Finance, 2008-present
  • Dean's Council of 100 Distinguished Scholar, 2004-present
  • Ford Honors Program Faculty Fellow 2002-2004

Editorships

Ad Hoc Referee

  • Journal of Finance
  • Journal of Financial Economics
  • Journal of Finance and Quantitative Analysis
  • Review of Financial Studies
  • Journal of Accounting and Economics

Work History

Arizona State University: 1987-present. Previous Appointments: University of Oregon, Rochester Institute of Technology, University of Rochester.