2019 and Forthcoming Publications
Using Information Theory to Evaluate Measures of Vertical Inequity in Property Taxation. Frank SanPietro, Mark Sunderman, Evgenii Radetskiy, and Brian Janz. Journal of Property Tax Assessment & Administration, forthcoming, 2019.
The Impact of Default and Foreclosure on Housing Values: Rings vs. Neighborhoods Approach. Ying Huang, Ronald Spahr and Mark Sunderman. Journal of Real Estate Finance and Economics, forthcoming, 2019.
You're Fired: Gender Disparities in CEO Dismissal. Sabatino Silveri, Vishal Gupta, Sandra Mortal, Minxing Sun and Daniel Turban, Journal of Management, 2018.
How a Credit Enhancement Affects Bond Liquidity and Default Risk of the Firm. Black, Jeffrey R., S.A. Hoelscher and D. Stock. Journal of Fixed Income, 28(03), 2018.
Housing "Beta": Common risk factor in returns of stocks. Vishaal Baulkaran, Pawan Jain, and Mark Sunderman, Journal of Real Estate Finance and Economics, 1-19, 2018.
The Value of Greenways: Memphis Shelby Farms Greenline as a Case Study. Ying Huang, Esra Ozdenerol, and Mark Sunderman, Journal of Housing Research, forthcoming, 2018.
Do Women CEOs Face Greater Threat of Shareholder Activism Compared to Male CEOs? A Role Congruity Perspective. Vishal Gupta, Seonghee Han, Sandra Mortal, Sabatino Silveri, and Daniel Turban, Journal of Applied Psychology, 103(2), 228-236, 2018.
High frequency trading and extreme price movements. Brogaard Jonathan, Allen Carrion, Thibaut Moyaert, Ryan Riordan, Andriy Shkilko, and Konstantin Sokolov, Journal of Financial Economics, 128, 253-265, 2018.
A Prioritization Index for Blight Intervention Strategies in Residential Real Estate. Fernando Ferreira, Ronald Spahr, Mark Sunderman and Marjan Jalali, Journal of the Operational Research Society, 69(8), 1269-1285, 2018.
Designing and Delivering Effective Online Instruction. Mark A. Sunderman, Smita Jain, and Pawan Jain, International Journal of Research in Management & Social Science, 6(1), 133-140, 2018.
Permanent Price Impact Asymmetry of Trades with Institutional Constraints. Chiyachantana, Chiraphol, Pankaj Jain, Christine Jiang, and Vivek Sharma, Journal Financial Markets, 2017, Lead Article.
The Impact of Market Structure on Ex-Dividend Day Stock Price Behavior. Sandra Mortal, Shishir Paudel, and Sabatino Silveri. Financial Management, 46(4), 2017.
Price Discovery and Liquidity Characteristics for U.S. Electronic Futures and ETF Markets. Holowczak, Richard, Pankaj K. Jain, Suchismita Mishra, Senol Oztekin, and Sascha Strobl, Journal of Trading 12 (2), 59-72, 2017
Corruption's Impact on Foreign Portfolio Investment.Pankaj Jain, Emre Kuvvet, and Michael Pagano, International Business Review, 26, 23-35, 2017
REITs and Market Microstructure: A Comprehensive Analysis of Market Quality. Pawan Jain, Mark Sunderman and K. Janean Westby-Gibson, Journal of Real Estate Research, 39(1): 65-98, 2017
A Learning-Oriented Decision-Making Process for Real Estate Brokerage Service Evaluation. Fernando Ferreira, Ronald Spahr, Mark Sunderman, Audrius Banaitis and João Ferreira, Service Business, 11(3):453-473, 2017.
Hospitality REITs and Financial Crisis: A comprehensive assessment of market quality. Pawan Jain, Spenser Robinson, Arjun Singh, and Mark Sunderman, Journal of Property Investment & Finance, 35(3):277-289, 2017.
Reducing Vertical and Horizontal Inequity in Property Tax Assessments. John Birch, Mark Sunderman and Evgeny Radetskiy, Journal of Property Tax Assessment & Administration,14(2):71-81,2017.
When Crisis Knocks, Call a Powerful CEO (or Not): Investigating the Contingent Link between CEO Power and Firm Performance during Industry Turmoil. Vishal Gupta, Seonghee Han and Vikram Nanda, and Sabatino Silveri. Group and Organization Management, published online before print, Oct 7, 2016.
Executives' Horizon, Internal Governance and Stock Market Liquidity. Christine Jiang, Mohamed Mekhaimer and Pawan Jain, Journal of Corporate Finance, Volume 40, Pages 1-23, October 2016. Lead article.
Price Clustering on the Shanghai Stock Exchange. Bill Hu, Christine Jiang, Thomas McInish, Haigang Zhou, Applied Economics, forthcoming, 2016
The pricing of different dimensions of liquidity: Evidence from government guaranteed bonds. Black, Jeffrey R., Duane Stock, and Pradeep K. Yadav. Journal of Banking & Finance 71: 119-132, 2016.
Executive Overconfidence and Compensation Structure, Mark Humphery-Jenner, Ling Lei Lisic, Vikram Nanda, and Sabatino Silveri, Journal of Financial Economics, Forthcoming, 2016
CEO Power and Firm Performance under Pressure, Seonghee Han, Vikram Nanda, and Sabatino Silveri, Financial Management, Forthcoming, 2016
The Bonding Hypothesis and the Home Market Liquidity of Chinese Cross-listed Stocks, Ying Huang, Gady Jacoby, and Christine Jiang, Journal of International Financial Markets, Institutions & Money, forthcoming, 2016
Director discretion and insider trading profitability, Foley, Sean, Amy Kwan, Thomas McInish, and Richard Philip, Pacific Basin Finance Journal, forthcoming, 2016
Using Multiple Criteria Decision Analysis (MCDA) to Assist in Estimating Residential Housing Values, Ferreira Fernando, Ronald Spahr, and Mark Sunderman, International Journal of Strategic Property Management,20(4): 354-370, 2016
Five Property Types’ Real Estate Cycles as Markov Chains, Richard Evans and Glenn Mueller, International Real Estate Review, Forthcoming, 2016
Industrial Real Estate Cycles: Markov Chain Applications, Richard Evans and Andrew Mueller, Journal of Real Estate Portfolio Management, Forthcoming, 2016
Trading rules, competition for order flow and market fragmentation, Amy Kwan, Ronald Masulis, and Thomas McInish, Journal of Financial Economics 115, 330-348, 2015
The Post Acquisition Returns of Stock Deals: Evidence of the Pervasiveness of the Asset Growth Effect, Sandra Mortal and Michael Schill, Journal of Financial and Quantitative Analysis, 50, 477-507, 2015
Price movement and trade size on the National Stock Exchange of India, Ajay Mishra, Trilochan Tripathy, and Thomas McInish, Applied Economics 47, 4847-4854, 2015
The Impact of Earnings Guidance Cessation: Information Asymmetry and Earnings Management, Bill Hu, Joon Ho Hwang, and Christine Jiang, Journal of Business Finance and Accounting, 41, 73-99, 2014
Predicting Future Price Volatility: Empirical Evidence from an Emerging Limit Order
Market, Pawan Jain and Christine Jiang, Pacific Basin Finance Journal, 27, 72-93, 2014
Empirical Evidence on Ambiguity: Certification and Market Liquidity, Jang Chul, Kimand, Emre Kuvvet, and Christine Jiang, Financial Review 49, 2014
Naked short selling and the market impact of failures to deliver: Evidence from the trading of real estate investment trusts, Eric Devos, Thomas McInish, Michael McKenzie, and James Upson, Journal of Real Estate Finance and Economics 49, 454-476, 2014
Regression Modeling for Vertical and Horizontal Property Tax Inequity, John Birch and Mark Sunderman, Journal of Housing Research, 23(1): 89-105, 2014
Stock Price Movement around the Merger Announcements: Insider Trading or Market Anticipation?, Pawan Jain and Mark Sunderman, Managerial Finance, 40(8): 821-843, 2014
The Real Effects of Being Public: evidence form public and private firms, Sandra Mortal, Natalia Reisel, Journal of Financial and Quantitative Analysis, 2013
Investor Protection and cash holdings: Evidence from US cross-listing, Susan Elkinawy, Ying Huang, Pankaj Jain, Journal of Banking and Finance 37, 937-951, 2013
The quote exception rule: Giving high frequency traders and unintended advantage, Thomas McInish, James Upson, Financial Management, 42, 481-501, 2013
Retail Real Estate Cycles as Markov Chains, Richard Evans, Glenn Mueller, Journal of Real Estate Portfolio Management 19, 179-188, 2013
Credit Rating Changes and Institutional Trading, Pankaj Jain, Qin Wang, Journal of Trading 8, 38-47, 2013
Greed and fear in financial markets: The case of stock spam e-mails, Bill Hu, Thomas McInish, Li Zeng, Journal of Behavioral Finance, 14, 83-93, 2013
Linking the missing market: The effect of bond markets on economic growth, Y.B. Kim, C.S. Pyun , P. Thumrongvit, International Review of Economics and Finance 27, 529-541 , 2013
Partial State Ownership and Bank Stock Stability in the Asia-Pacific Region, Mahmud Hossain, Pankaj Jain, Santanu Mitra, Pacific-Basin Finance Journal 21, 914-931, 2013
Treasury Inflation-Protected Securities, Quentin C. Chu, Deborah Pittman, Encyclopedia of Finance, Chapter 8 (2ndedition), pp. 255-260, 2013
A Multiple Criteria Framework to Evaluate Bank Branch Potential Attractiveness, Fernando Ferreira, Paulo Rodrigues, Sergio Santos, Ronald Spahr, International Journal of Strategic Property Management, Vol. 16(3), pp. 254-276. AOP 02 October 2012,2012
Are Exchange Rate Movements Predictable in Asia-Pacific Markets? Evidence of Random Walk and Martingale Difference Processes, Osamah M. Al-Khazali, Daewon Kim, C.S. Pyun, International Review of Economics and Finance 21, 221-231, 2012
Dividend-Rollover Effect & the Ad Hoc Black-Scholes Model, Youngsoo Choi, SoonChan Ok, Steven Jordan, Journal of Futures Markets, 32(8), pp. 742-772, 2012
European Market Quality Pre-/Post-MiFID: A Panel Discussion of Metrics for Market Integrity and Efficiency, (panel discussion in) Freerick H. deB. Harris, Elisa Maree DrMarco, Thomas McInish, Journal of Trading 7, 7-26, 2012
Evaluating Retail Banking Service Quality and Convenience with MCDA Techniques: A Case Study at the Bank Branch Level, Fernando Ferreira, Paulo Rodrigues, Sergio Santos, Ronald Spahr, Journal of Business Economics and Management, 2012
Government as the firm’s third financial stakeholder: Impact on capital investment decisions, capital structure, discount rates and valuation, Fariz Huseynov, Pankaj Jain, Ronald Spahr, Engineering Economist 57, 157-177, 2012
Information Content of Earnings Announcements: Evidence from After Hours Trading, Christine Jiang, Tanakorn Likitapiwat, Thomas McInish, Journal of Financial and Quantitative Analysis 47(6), 1303-1330, 2012
Pricing and Information Content of Block Trades on the Shanghai Stock Exchange, Longzhen Fan, Bill Hu, Christine Jiang, Pacific Basin Finance Journal 20, 378-397, 2012
Product Market Power and Management’s Action to Avoid Earnings Disappointment, Mahmud Hossian, Pankaj Jain, Santanu Mitra, Review of Quantitative Finance and Accounting, 2012
Readjusting Trade-Offs among Criteria in Internal Ratings of Credit Scoring: An Empirical Essay of Risk Analysis in Mortgage Loans, Amali Cipi, Fernando Ferreira, Irina Gavancha, Ronald Spahr, Journal of Business Economics and Management, Volume 14, Issue 4, 2013,2012
Tax Policy and Macro-Finance in a Competitive Global Economy where Government if Considered as Firms’ Third Financial Stakeholder, Fariz Huseynov, Pankaj Jain, Bhavik Parikh, Ronald Spahr, Global Business and Economics Review 14, 30-66, 2012
The impact of low cost airline entry on competition, network expansion, and stock valuations, Dominic Detzen, Pankaj Jain, Tanakorn Likitapiwat, Rose Rubin, Journal of Air Transport Management 18, 59-63, 2012
Time-Varying Risk and Long-Term Reversals: A Re-examination of the International Evidence, Steven Jordan, Journal of International Business Studies, 43(2), pp. 123-142, 2012
On the Scope and Drivers of the Asset Growth Effect, Marc Lipson, Sandra Mortal, Michael Schill, Journal of Financial and Quantitative Analysis, 2011
Gambling in penny stocks, Bill Hu, Thomas McInish, International Journal of Cyber Criminology 4, 610-629, 2011
Liquidity, analysts, and institutional ownership, Christine Jiang, Jang-Chul Kim, Dan Zhou, International Review of Financial Analysis 20, 335-344, 2011
Market Efficiency of Floating Exchange Rate Systems: Some Evidence from Pacific-Asian Countries, Osamah M. Al-Khazali, Guillaume Leduc, C.S. Pyun, Global Finance Journal 22, 454-468, 2011
New Banking Trends, MCDA and Financial Decisions: Insights and a Framework for Retail Banking, Fernando Ferreira, Jose Pereria, Ronald Spahr, Banks and Bank Systems, Vol. VI, No. 2, pp. 23-35,2011
The Choice of Trading Venue and Relative Price Impact of Institutional Trading: ADRs versus the Underlying Securities in their Local Markets, Sugato Chakravarty, Chiraphol Chiyachantana, Christine Jiang, Journal of Financial Research 54(4) 537-567, 2011
When Do TIPS Prices Adjust to Inflation Information? Quentin C. Chu, Deborah Pittman, Linda Yu, Financial Analysts Journal, Vol. 67, No. 2, pp. 59-73, 2011
Do Firms Believe in Interest Rate Parity?, Matt McBrady, Sandra Mortal, Michael Schill, Review of Finance, 2010
A Global Perspective on the Banking Crisis and Recovery: An Analysis of Domestic vs. Foreign Banks, Pankaj Jain, H. Mahmud, Sandra Mortal, The Banking Crisis Handbook: Taylor and Francis-CRC Press, 251-274, 2010
Busan International Financial Center: Bold Private and Public Entrepreneurship in Action in Development Strategies for Busan International Financial Center, Yung Joon Lee, Editor, C.S. Pyun , Pusan National University Press, 9-49 , 2010
Informed Trading in Parallel Auction and Dealer Markets: The Case of the London Stock Exchange, Pankaj Jain, Christine Jiang, Thomas McInish, N. Taechapiroontong, Greg N. Gregoriou (ed.), Handbook of Trading: Strategies for Navigating and Profiting from Currency, Bond, and Stock Markets: McGraw-Hill, NYC, NY 23-38, 2010
Stealth trading: The case of the Tokyo Stock Exchange, Asli Ascioglu, Carole Comerton-Forde, Thomas McInish, Pacific-Basin Finance Journal, 19, 194-207, 2010
Strategic illegal insider trading prior to price sensitive announcements, Alex Frino, Thomas McInish, Frank Sensenbrenner,Journal of Financial Crime 18, 247-253, 2010
The Link between Intraday Signals and Call Warrant Mispricing, Shih-Ching Chuan, Steven Jordan, Yueh-Neng Lin, Shih-Kuo Yeh, Service Industries Journal, 30(13), pp. 2273-2288, 2010
Corruption, Political Connections and Municipal Finance, Sandra Mortal, Alex Butler, and Larry Fauver, Review of Financial Studies, 2009
Liquidity and Capital Structure, Sandra Mortal, and Marc Lipson, Journal of Financial Markets, 2009
The Monetary Transmission Mechanism of a Small Open Economy with Sweeping Financial Reform, C.S. Pyun, Young Seob Son and William T. Smith, Multinational Business Review 17, 1-19, 2009
Stock Market Liquidity and the Decision to Repurchase, Sandra Mortal, Paul Brockman, and John Howe, Journal of Corporate Finance, 2008
The Profound Effects of Automation on Stock Markets around the World, Pankaj Jain, Journal of Investment Management 6, 46-54, 2008
Financial Analysts and Price Discovery, Thomas McInish, Michael Aitken, Niall Almeida, Frederick Harris, Accounting and Finance 48, 1-24, 2008
Behavioral Explanations of Trading Volume and Short-horizon Price Patterns: An Investigation of Seen Asia-Pacific Markets, Thomas McInish, David Ding, Udomsak Wongchotti, Pacific Basin Finance Journal 16, 183-203, 2008
Calendar Anomaly in the Greek Stock Market: Stochastic Dominance Analysis, C.S. Pyun, Osamah Al-Khazali and Evangelos Koumanakos, International Review of Financial Analysis 17, 461-474, 2008
Short-horizon Contrarian and Momentum Strategies in Asian Markets: An Integrated Approach, C.S. Pyun, Thomas McInish, David Ding and Udomsak Wongchoti, International Review of Financial Analysis17, 312-329, 2008
Mutual Fund Performance: Does Fund Size Matter? Investment Performance Measurement: Evaluating and Presenting Results, Christine Jiang, CFA Institute Investment Perspectives 13, 307-326, 2008
Earnings Surprises and Stealth Trading, Christine Jiang, Sugato Chakravarty and Chiraphol Chiyachantana, Stock Market Liquidity: Implications for Market Microstructure and Asset Pricing, John Wiley and Sons, Inc., 2008
Order Dynamics: Recent Evidence from the NYSE, Andrew Ellul, Craig Holden, Pankaj Jain, Robert Jennings, Journal of Empirical Finance 14, 636–661, 2007
Price Clustering on the Tokyo Stock Exchange, Thomas McInish, Ascioglu, Comerton-Forde, Financial Review 42, 289-301, 2007
Opening and Closing Behavior Following the Introduction of Call Auctions in Singapore, Thomas McInish, Comerton-Forde, Sie Lau, Pacific Basin Finance Journal 15, 18-35, 2007
Corporate Governance, Disclosure, and Minority Shareholder Expropriation: The Saga of Damlier Chrysler, Frederick Harris, Sherry Jarrell, Thomas McInish, Robert Wood, Journal of Corporate Ownership and Control 5, 403-412, 2007
Liquidity Supply in Electronic Markets , Thomas McInish, Michael Aitken, Niall Almeida, Frederick Harris, Journal of Financial Markets 10, 144-168, 2007
Listing Switches from Nasdaq to NYSE/AMEX: Is New Stock Issuance a Motive?, Thomas McInish, Asli Ascioglu, Advances in Quantitative Analysis of Finance and Accounting 2, 2007
A New Variance Ratio Test of Random Walk in Emerging Markets : A Revisit, C.S. Pyun, Osamah M. Al-Khazali, and David Ding, Financial Review 42, 303-317, 2007
A Comparison of Variance Ratio Tests of Random Walk: A Case of Asian Emerging Markets, C.S. Pyun, Hafiz Hoque and Jae H. Kim, International Review of Economics and Finance16, 488-502, 2007
Strategies for Global Korean Economic Network and the Korean Community in the U. S., C.S. Pyun, Korean and Korean American Studies Bulletin, 16, 100-122, 2007
Improving Liquidity through Efficient Stock Market Structure and Operational Design, Pankaj Jain, Journal of Financial Transformation 18, 151-159, 2006
Investor Recognition, Liquidity, Returns, and Performance after Exchange Listings in the Reformed Markets, Pankaj Jain, Jang-Chul Kim, Financial Management 35, 21-42, 2006
Financial Market Design and the Equity Premium: Electronic vs. Floor Trading, Pankaj Jain, Journal of Finance 60, 2955-2985, 2005
Do Tracking Stocks Reduce Informational Asymmetries? An Analysis of Liquidity and Adverse Selection, John Elder, Pankaj Jain, and Jang-Chul Kim, Journal of Financial Research 28, 197-213, 2005
Risk Adjusted Contrarian Profits: Evidence from Non S&P 500 High Volume Trading Stocks,C.S. Pyun, Udomsak Wongchoti, Financial Review 40,335-359, 2005
Homeowners' Repeat-Sale Gains, Dual Agency, and Repeated Use of the Same Agent, Richard Evans and Phillip Kolbe, Journal of Real Estate Research, 27, 267-292, 2005
Currency Devaluation and Contractionary Policy in Currency Crisis: A Supply-Side Approach, C.S. Pyun, William Smith and Youngseob Son, Global Business and Finance Review 10, 17-25, 2005
Asymmetric Information in the IPO Aftermarket , Thomas McInish, M. Li, U. Wongchoti, Financial Review 40, 131-153, 2005
Information Based Trading, Price Impact of Trades, and Trade Autocorrelation,Thomas McInish, Kee Chung, Mingsheng Li, Journal of Banking and Finance 29, 1645-1669, 2005
Trading Costs of Non-U.S. Stocks on NYSE: The Effect of Institutional Ownership, Analyst Following, and Market Regulations, Christine Jiang, Jang-Chul Kim, Journal of Financial Research 28, 439-459, 2005
Price Discovery in the Pits: The Role of Market Makers on the CBOT and the Sydney Futures Exchange, Thomas McInish, Alex Frino, Frederick Harris, Michael Thomas, Journal of Futures Markets 24, 785-804, 2004
Stock prices and inflation: New evidence from the Pacific-Basin countries, C.S. Pyun, Osamah Al-Khazali, Review of Quantitative Finance and Accounting 22, 123-140, 2004
Efficiency and Resilience of French Multinational Banks, C.S. Pyun, Tosporn Chotigeat and Sebastien Kramer, Multinational Business Review12,3-18, 2004
The Volatility Impact of the European Monetary System on Member and Non-Member Currencies, Christine Jiang, Michael Hu and Christos Tsoukalas, Applied Financial Economics 14, 313-325, 2004