行为经济学家Statman和Shefrin论文

是 否 +2 论坛币

k人 参与回答

经管之家送您一份

应届毕业生专属福利!

求职就业群

赵安豆老师微信：zhaoandou666

经管之家联合CDA

送您一个全额奖学金名额~ !

立即领取

感谢您参与论坛问题回答

经管之家送您两个论坛币！

+2 论坛币

Meir Statman is the Glenn Klimek Professor of Finance at the Leavey School of Business, Santa Clara University. His research focuses on behavioral finance. He attempts to understand how investors and managers make financial decisions and how these decisions are reflected in financial markets.

The questions he addresses include: What are the cognitive errors and emotions that influence investors? What are investor aspirations? How can financial advisors and plan sponsors help investors? What is the nature of risk and regret? How do investors form portfolios? How important are tactical asset allocation and strategic asset allocation? What determines stock returns? What are the effects of sentiment?

Meir’s research has been published in The Financial Analysts Journal, The Journal of Portfolio Management, The Journal of Finance, The Journal of Financial Economics, The Journal of Financial and Quantitative Analysis and many other journals. The research has been supported by the National Science Foundation, the Research Foundation of the CFA Institute and the Dean Witter Foundation. Meir is a member of the Editorial Board of the Financial Analysts Journal, the Advisory Board of the Journal of Portfolio Management and the Journal of Investment Consulting, an Associate Editor of The Journal of Financial Research, the Journal of Behavioral Finance, and the Journal of Investment Management and a recipient of a Batterymarch Fellowship, a William F. Sharpe Best Paper Award, a Bernstein Fabozzi/Jacobs Levy Outstanding Article Award and two Graham and Dodd Awards of Excellence. Meir consulted with many investment companies and presented his work to academics and professionals in many forums in the U.S. and abroad.

Meir received his Ph.D. from Columbia University and his B.A. and M.B.A. from the Hebrew University of Jerusalem.

http://lsb.scu.edu/finance/faculty/Statman/Default.htm

扫码加我 拉你入群

请注明：姓名-公司-职位

以便审核进群资格，未注明则拒绝

分享2 收藏9 回帖

关键词：Shefrin Statman 行为经济学 经济学家 行为经济 论文 行为 经济学家 Shefrin Statman

Hersh Shefrin, who holds the Mario L. Belotti Chair in the Department of Finance at the Leavey School of Business, is one of the pioneers of behavioral finance. He has published widely in the area and writes for both academics and practitioners. Professor Shefrin regularly teaches a graduate course in behavioral finance and often speaks on the subject to portfolio managers, security analysts, and financial planners both in the U.S. and abroad. He is frequently interviewed by the media on financial matters.

In 1999, his book, Beyond Greed and Fear: Understanding Behavioral Finance and the Psychology of Investing, was published by Harvard Business School Press. This is the first comprehensive treatment of behavioral finance written specifically for practitioners. In 2002, Oxford University Press, who assumed publication of the book, released an edition with a revised preface to reflect recent events and developments. Beginning in 2003, McGraw-Hill Irwin will package Beyond Greed and Fear together with the book Investments by Zvi Bodie, Alex Kane, and Alan Marcus.

In 2001, Professor Shefrin edited a three-volume collection, entitled Behavioral Finance, published by Edward Elgar. In addition to seminal papers in this rapidly developing field, these volumes contain some of the pioneering works in psychology, upon which behavioral finance is based.

Professor Shefrin's scholarly articles have appeared in the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies, the Journal of Financial and Quantitative Analysis, Financial Management, the Financial Analysts Journal, and the Journal of Portfolio Management.

Professor Shefrin completed his PhD at the London School of Economics in the economics of uncertainty; he earned a Master of Mathematics from the University of Waterloo and a BS (Honors) in economics and mathematics from the University of Manitoba.

http://lsb.scu.edu/finance/faculty/Shefrin/Default.htm

Professors: Hersh M. Shefrin, Meir Statman (Chair)

Associate Professors: Sanjiv Das, Robert J. Hendershott, Hoje Jo, Atulya Sarin,

真是一个有个性的大学，这个大学的金融系一起才6个教授，却有两个是金融学界的重量级人物，就是这两个人就让这个系变得非常值得关注。

由此再次证明，人大的财经院这几年拼命进人扩大规模不过是回光反照而已。

以前毛主席说，中国人这么多，用脚踩也能把一个国家踩垮了。这是原始社会的眼光。

知识社会中，只要有一个厉害的人，就可能踩垮一个国家。

俺们院虽进人谨慎，但毕竟不能象清华那样引入几个关键人物。因为这少数几个人物，清华的经济学就能够超过俺们啦

874.rar (104.9 KB) 本附件包括：

• 行为金融过去和未来.pdf

2004-7-20 09:15:00 上传

行为经济学家Statman和Shefrin论文

Behaviorial Finance: Past Battles and Future Engagements

875.rar (2.4 MB) 本附件包括：

• 行为资本和资产定价.pdf

2004-7-20 09:16:00 上传

行为经济学家Statman和Shefrin论文

行为资本资产定价理论

876.rar (1.05 MB) 本附件包括：

• 行为资产定价.pdf

2004-7-20 09:18:00 上传

行为经济学家Statman和Shefrin论文

行为资产组合理论

877.rar (1.56 MB) 本附件包括：

• 白塔等意义.pdf

2004-7-20 09:20:00 上传

行为经济学家Statman和Shefrin论文

贝塔等指标的意义

878.rar (3.88 MB) 本附件包括：

• 投资者现金股利偏好.pdf

2004-7-20 09:23:00 上传

行为经济学家Statman和Shefrin论文

投资者偏好现金股利

879.rar (2.75 MB) 本附件包括：

• 泡沫.pdf

2004-7-20 09:25:00 上传

行为经济学家Statman和Shefrin论文

市场泡沫研究

880.rar (243.36 KB) 本附件包括：

• 市场预测中的认知偏差.pdf

2004-7-20 09:28:00 上传

行为经济学家Statman和Shefrin论文

市场预测时的认知偏差

882.rar (543.97 KB) 本附件包括：

• 投资者心态和股票回报.pdf

2004-7-20 09:28:00 上传

行为经济学家Statman和Shefrin论文

投资者心态和股票回报

883.rar (1.22 MB) 本附件包括：

• 好公司坏股票.pdf

2004-7-20 09:30:00 上传

行为经济学家Statman和Shefrin论文

好公司坏股票

884.rar (1.49 MB) 本附件包括：

• 买卖行为.pdf

2004-7-20 09:31:00 上传

行为经济学家Statman和Shefrin论文

股票买卖行为研究

原来俺不关心其他几个教授，以为就两个S教授就足够了，这次查看其他几个教授的情况，居然也非常厉害，真让人觉得美国一个不起眼的大学都是卧虎藏龙啊。

Atulya Sarin is Professor of Finance in the Leavey School of Business at Santa Clara University. He has taught a variety of graduate and undergraduate courses including Business Valuation, Corporate Finance, Mergers and Accquisitions, International Finance, Managing to IPO etc. He has published over 25 articles that have appeared in leading finance, economics and management Journals like the Journal of Finance, Journal of Financial Economics, and Academy of Management Journal . He has managed a variety of consulting and litigation support assignments involving small, closely held firms to large, international conglomerates in many different industries. These assignments have involved various aspects of financial markets and securities including such matters as stock and bond prices, corporate valuation, intellectual property valuation, mergers and acquisitions and derivatives. He served on the Editorial Board of the Journal of Financial Research and is a frequent presenter in Conferences in the US and Europe。

“Mean Reversion in Earnings and the Use of E/P Multiples in Corporate Valuation," co-authored with Mukesh Bajaj and David J. Denis, Journal of Applied Finance, Forthcoming.

“Firm Value and Marketability Discounts," co-authored with Mukesh Bajaj and David J. Denis and Stephen F. Ferris, Journal of Corporation Law, 27 (Fall, 2001): 89-115.

"The Private Company Discount," co-authored with John Koeplin and Alan C. Shapiro, Journal of Applied Corporate Finance, 12 (Winter, 2000) 94-101

The Structure of Ownership and Control in Publicly Traded Corporations," co-authored with David J. Denis, Journal of Financial Economics, 52 (May, 1999) 187-223.

Is the Market Surprised by Poor Earnings Realizations Following Seasoned Equity Offering," co-authored with David J. Denis, Journal of Financial and Quantitative Analysis, forthcoming.

"The Impact of Options Trading on the Market Quality of the Underlying Security: an Empirical Analysis," co-authored with Raman Kumar and Kuldeep Shastri, Journal of Finance, 53 (April, 1998) 717-732

"Managerial Incentives and Corporate Diversification Strategies," co-authored with David J. Denis and Diane K. Denis, Journal of Applied Corporate Finance, 10 (Summer, 1997) 72-80.

Impact of Corporate Insider, Blockholder, and Institutional Equity Ownership on Firm Risk Taking," co-authored with Vidya Awasthi, Stephen P. Ferris, and Peter Wright, Academy of Management Journal, 39 (1996) 441-463.

"Testing for Micro-Structure Effects of International Dual Listing Using Intra Day Data," co-authored with Gregory M. Noronha and Shahrokh M. Saudagaran, Journal of Banking and Finance, 20 (1996) 965-983.

The Allocation of Informed Trading Across Related Markets: An Analysis of the Impact of Changes in Equity-Option Margin Requirements," co-authored with Stewart Mayhew and Kuldeep Shastri, Journal of Finance, 50 (December,1995) 1653-1653.

"The Information Content of Dividend Changes: Cash Flow Signaling, Overinvestment, and Dividend Clienteles," co-authored with David J. Denis and Diane K. Denis, Journal of Financial and Quantitative Analysis, 29 (December,1994) 567-587

Professor Robert Hendershott,

Ph.D. in Finance from the Ohio State University, 1993.

B.S. in Electrical Engineering form Stanford University, 1987.

Assistant Professor at SCU since September 1993.

Visiting Assistant Professor at Stanford University, Economics Department, 4/97-6/97.

Visiting Scholar at Boston College, Finance Department, 8/92-8/93.

"The Gains from Takeover Deregulation: Evidence from the End of Interstate Banking Restrictions" (with Yaron Brook and Darrell Lee) Journal of Finance, v53(6, Dec), 1998, 2185-2204.

Do Firms Use Dividends to Signal Large Future Cash Flow Increases? (with Yaron Brook and Billy Charlton). Financial Management, v27(3, Autumn), 1998, 46-57.

Optimal Effort Allocation by U.S. Senators: The Role of Constituency Size. (with Cary Atlas and Mark Zupan). Public Choice, v92(3-4, Sep), 1997, 221-229.

Which Takeover Targets Overinvest? Journal of Financial and Quantitative Analysis, v31(4, Dec), 1996, 563-580.

The Federal Deposit Insurance Fund that Didn't Put a Bite on U.S. Taxpayers (with Edward Kane). Journal of Banking and Finance, v20(8, Sep), 1996, 1305-1327.

Slicing the Federal Government Net Spending Pie: Who Wins, Who Loses, and Why (with Cary Atlas, Thomas Gilligan, and Mark Zupan). American Economic Review, v85(3), 1995, 624-629.

Sanjiv Ranjan Das

Breetwor Fellow & Associate Professor of Finance 208 Kenna Hall, Department of Finance Leavey School of Business Santa Clara University 500 El Camino Real, CA 95053-0388.

"The Surprise Element: Jumps in Interest Rates", 2002, Journal of Econometrics, v106, 27-65.

"Fee Speech: Signaling, Risk-sharing and the Impact of Fee Structures on Investor Welfare,'' (with Rangarajan Sundaram), 2002, Review of Financial Studies, v15, 1465-1497.

"International Portfolio Choice with Systemic Risk," (with Raman Uppal), forthcoming Journal of Finance"

Efficiency with Costly Information: A Reinterpretation of Evidence from Managed Portfolios," (with Edwin Elton, Martin Gruber and Matt Hlavka), Review of Financial Studies, vol. 6(1), 1993, pp 1-22.

"Pricing Interest Rate Derivatives: A General Approach,''(with George Chacko), 2002, Review of Financial Studies, v15(1), 195-241

"Credit Risk Derivatives," Journal of Derivatives, 1995, pg 7-21.

"Pricing Credit Sensitive Debt when Interest Rates, Credit Ratings and Credit Spreads are Stochastic," 1996, (with Peter Tufano), The Journal of Financial Engineering, v5(2), 161-198.

"Exact Solutions for Bond and Options Prices with Systematic Jump Risk," 1996, (with Silverio Foresi), Review of Derivatives Research, v1(1), 7-24.

"Analytical Approximations of the Term Structure for Jump-diffusion Processes: A Numerical Analysis," 1996, (with Jamil Baz), Journal of Fixed Income, v6(1), 78-86.

"A Simple Approach to Three Factor Affine Models of the Term Structure," (with Pierluigi Balduzzi, Silverio Foresi and Rangarajan Sundaram), 1996, Journal of Fixed Income, v6(3), 43-53.

"Discrete-Time Bond and Option Pricing for Jump-Diffusion Processes," 1997, Review of Derivatives Research, v1(3), 211-244.

"A Theory of Banking Structure," 1999, (with Ashish Nanda), Journal of Banking and Finance, v23(6), 863-895.

"Of Smiles and Smirks: A Term Structure Perspective,'' 1999, (with Rangarajan Sundaram), Journal of Financial and Quantitative Analysis, v34(2), 211-240.

"The Impact of Correlated Default Risk on Credit Portfolios," (with Gifford Fong, and Gary Geng), 2001, Journal of Fixed Income, v11(3), 9-19.

"Bayesian Migration in Credit Ratings Based on Probabilities of Default," (with Rong Fan and Gary Geng), 2002, Journal of Fixed Income, December, v12(3), 17-23.

以下是这个老兄的学术自传：

An Academic's Apology (or Bio, if you prefer!)

After loafing and working in many parts of Asia, but never really growing up, Sanjiv moved to New York to change the world, hopefully through research. He graduated in 1994 with a Ph.D. from NYU, and since then spent five years in Boston, and now lives in Moraga (near Berkeley), California. He is married to Priya Raghubir, a professor at UC Berkeley. Sanjiv loves animals, places in the world where the mountains meet the sea, riding sport motorbikes, reading, gadgets, science fiction movies, and writing cool software code. When there is time available from the excitement of daily life, Sanjiv writes academic papers, which helps him relax. Always the contrarian, Sanjiv thinks that New York City is the most calming place in the world.

Sanjiv is now an Associate Professor of Finance at Santa Clara University. He came to SCU from Harvard Business School and spent a year at UC Berkeley. In his past life in the unreal world, Sanjiv worked at Citibank, N.A. in the Asia-Pacific region. He takes great pleasure in merging his many previous lives into his current existence, which is incredibly confused and happy.

Sanjiv's research style is instilled with a distinct "New York state of mind" - it is chaotic, diverse, with minimal method to the madness. He has published articles on derivatives, term-structure models, mutual funds, the internet, portfolio choice, banking models, credit risk, and has unpublished articles in many other areas. Well into his academic career in Finance, he took time off to get another degree in computer science at Berkeley, confirming that an unchecked hobby can quickly become an obsession. There he learnt about the fascinating field of Randomized Algorithms, skills he now applies earnestly to his editorial work, and other pursuits, many of which stem from being in the epicenter of Silicon Valley.

New York did a lot to mold Sanjiv. The many walks in Greenwich village convinced him that there is no such thing as a representative investor, yet added many unique features to his personal utility function. He learnt that it is important to open the academic door to the ivory tower and let the world in. He now finds it hard to work in isolation on the west coast, when at NYU there was always a seventeenth opinion available. He is pleased to have lived on both coasts, and is in complete denial that there exists anything in between. He has been known to have turned down many offers from Mad magazine to publish his academic work. As he often explains, you never really finish your education - "you can check out any time you like, but you can never leave." Which is why he is doomed to a lifetime in Hotel California. And he believes that, if this is as bad as it gets, life is really pretty good.

[此贴子已经被作者于2004-7-20 9:53:43编辑过]

Professor Hoje Jo

Ph.D. in Finance from University of Florida M.B.A. in Finance from State University of New York at Buffalo

Associate Professor of Finance at SCU since 1996.

Assistant Professor of Finance at SCU, 1990-1996.

Assistant Professor of Finance at University of New Mexico, 1986-1989.

B.A. in Chinese Literature from Seoul National University.

PUBLICATIONS "The impact of Information Release on Stock Price Volatility and Trading Volume: The Rights Offering Case," (with S. Bae), forthcoming at Review of Quantitative Finance and Accounting.

"Investor Cognizance and Price Reactions to Dividend Initiations," (with E. Kang), forthcoming at the Advances in Working Capital Management.

"A Test of Investor Cognizance in the Market's Reaction to Dividend Announcements," (with E. Kang), Academy of Accounting and Financial Studies Journal 1, 1997, pp. 24-32. and presented and received Distinguished Paper Award from the 1996 Allied Academic International Conference.

"The Impact of Security Analysts' Monitoring and Marketing Roles on the Market Value of Firms," (with K. Chung), Journal of Financial and Quantitative Analysis 31, 1996, pp. 493-512. This paper is also presented and received Best Paper Award at the 1996 Global Finance Conference, and presented at the 1996 Western Finance Association Conference, the 1996 European Finance Association Conference and the 1996 Financial Management Association Conference. The summary of this paper is published in 1997 Contemporary Finance Digest.

"Time Varying Term Premia in T-Bill Futures Rates and the Expectations Hypothesis", (with J. Lee), Review of Quantitative Finance and Accounting 6, 1996, pp. 149-160 and presented at 1992 annual meetings of Financial Management Association.

"Data Frequency and the Number of Factors in Stock Returns", (with R.Huang), Journal of Banking and Finance 19, 1995, pp 987-1003. This paper is the winner of the 1996 Iddo Sarnat Award from the Journal of Banking and Finance and the 1996 European Finance Association Conference.

"Usage of Convertible and Warrant Bonds by Japanese Firms: Risk-shifting or Delayed Equity?," (with J. Pinkerton and A. Sarin), Journal of Finance 50, 1995, PP 983 (abstract published), presented and received "Outstanding Paper Award" from the 1994 Global Finance Conference, and presented at 1995 American Finance Association annual meeting.

"Financing Decisions and the Investment Opportunities Set: Some Evidence from Japan," (with J. Pinkerton and A. Sarin), Pacific-Basin Finance Journal 2, 1994, PP 227-242, and "Chicago Board Options Exchange Competitive Research Award" Paper from the Fifth Annual PACAP Finance Conference held in Kuala Lumpur, Malaysia, 1993.

"Doing Well While Doing Good?: The Investment Performance of Socially Responsible Mutual Funds," (with S. Hamilton and M. Statman), Financial Analyst Journal 49, 1993, PP 62-66.

"Estimating the Strategic Value of Long-term Forward Sale Contracts: The Case of R&D," (with W. Lee and D. Zwemer), Advances in Quantitative Analysis of Finance and Accounting 2, 1993, Part B, PP 77-91, and presented at the Third Annual Pacific-Basin Finance Conference at Seoul, 1991.

"Transformed Securities and Alternative Factor Structures," (with R. Huang), Journal of Finance 47, 1992, PP 397-405, and presented at the 1987 Financial Management Association Annual Meeting.

"Tests of Market Models: Heteroskedasticity or Misspecification?", (with R. Huang), Journal of Banking and Finance 12, 1988, PP 439-455.

"A Factor Analytic Approach to Foreign Exchange Speculation," (with R. Huang), Proceedings of the American Statistical Association, 1986, pp. 96-100, and presented at 1986 American Statistical Association Conference.

SELECTED WORKING PAPERS "Spin-offs, Managerial Discretion and Corporate focus," (with Yoon K. Choi) is under third review at Journal of Financial research.

"The Choice of Organizational Form: Leveraged Buyouts versus Leveraged Recapitalizations" (with Sung C. Bae and Bob Hendershott), under review at Journal of Financial and Quantitative Analysis.

"Trading Volume, Information, and Trading Costs: Empirical Analysis," (with K. Chung and H. Shefrin), under review at Journal of Banking and Finance.

"Venture Capital Syndication and Firm Value: Entrepreneurial Financing of Grand Junction Networks," under revision to submit to Journal of Financial Economics.

"Marketing of Stocks by Brokerage Firms: The Role of Financial Analysts," (with K. Chung), under review at Financial Management.

"Financing Valuable Investment Projects in Japan: Agency Costs, Organizational Structure, and Debt Markets," (with Roger Huang and Yong H. Kim), under revision to submit to Journal of Financial and Quantitative Analysis.

"Usage of Convertible and Warrant Bonds by Japanese Firms: Risk-shifting or Delayed Equity?," (with J. Pinkerton and A. Sarin), invited to be revised and resubmit to Journal of Banking and Finance, presented at 1994 annual meetings of Financial Management Association, presented at 1995 American Finance Association annual meeting (abstract published at Journal of Finance) and presented at the 1995 Western Finance Association annual meeting.

"Do Socially Responsible Investments Matter to Going for Public Companies?", under revision to submit to Journal of Business Venturing, and presented at 1996 Global Finance Conference.

"The Role of Security Analysts in Japan," (with S. Ghon Rhee and Moon H. Song), under revision to submit to Journal of Financial and Quantitative Analysis.

"Further Empirical Evidence on the Brennan-Hughes Theory of Analyst Following using Intangible Capital," (with K. Chung and H. Shefrin), under revision to submit to Journal of Financial and Quantitative Analysis, and presented at 1995 Financial Management Association Conference.

"Consolidating Corporate Control: Divisional Leveraged Buyouts versus Whole-Company Leveraged Buyouts," (with Sung C. Bae) is invited to be revised and resubmitted to Journal of Financial Research.

"The Structure of the Private Equity Market," (with M. Solt) is being revised to submit to the journal.

[此贴子已经被作者于2004-7-20 22:47:00编辑过]

Hoje Jo应该是韩国人。有几条经历可以作证：

-Regional director of West Coast, Korean-American Finance Association (1994-1996). -Executive board member, Korean-American Finance Association (1996-present)

-Vice chairman of the board of directors, Silicon Valley Korean Language School, 1996-1998.

1977-1979 Officer of Plant Export Department and Steel Export Department, Daewood Industrial Co., and Ssangyong Corporation, Seoul, Korea

[此贴子已经被作者于2004-7-20 10:23:48编辑过]