“Takeovers,” entry in The New Palgrave Dictionary of Money and Finance, (1993).
“Reputation, Incentives, and Managerial Decisions,” entry in The New Palgrave Dictionary of Money and Finance, (1993).
Review of Futures Markets, by D. Siegel and D. Siegel, Journal of Finance, September (1991).
Abstract: “Market-Based Estimates of Value Improvements from Takeovers: An Intervention Approach.” Journal of Finance, July (1993):1067-68.
“Mergers and Acquisitions: Strategic and Informational Issues,” Finance, Volume 9, North Holland Handbooks in Operations Research and Management Science, 1995, ch. 26, pp. 839-887.
“The Blind Leading the Blind: Social Influence, Fads and Informational Cascades.” Chapter 12 in The New Economics of Human Behaviour, Ieurulli, K. and Tommasi, M eds.; Cambridge University Press, (1995):188-215.
Abstract: “Institutional Memory, Escalation and Investment Decisions” with Ivo Welch, Journal of Finance, July (1995).
“Informational Cascades and Social Conventions,” in The New Palgrave Dictionary of Economics and the Law, May 1998, 23 pp.
“Using Psychology to Predict Market Moves,” David Hirshleifer and Siew Hong Teoh, Optimus, January, 2001, pp. 34-35.
“The Blurring of Boundaries between Financial Institutions and Markets,” Journal of Financial Intermediation, 10(3/4), July/October (2001):272-5.
“Informational Cascades and Rational Herding: An Annotated Bibliography and Resource Reference.” Available at http://welch.econ.brown.edu/cascades/, with Sushil Bikhchandani and Ivo Welch
“Deception and Self-Deception in Capital Markets.” Joshua Coval, David Hirshleifer and Siew Hong Teoh, Chapter 6, pp. 131-169 in Deception in Markets, Caroline Gerschlager, Ed., Palgrave Macmillan/U.K., 2005
“Information Cascades and Observational Learning,” Sushil Bikhchandani, David Hirshleifer and Ivo Welch entry written for The New Palgrave Dictionary of Economics, Second Edition, Steven Durlauf and Lawrence Blume, Editors.
Book:
Price Theory and Applications, 6th Edition, Prentice Hall, 1998, Jack Hirshleifer and David Hirshleifer
Price Theory and Applications: Decisions, Markets, and Information, 7th Edition, Jack Hirshleifer, Amihai Glazer, and David Hirshleifer, Cambridge University Press, 2005.
Papers and Discussions at Conferences and Professional Societies:
Discussion of “Investment Trusts, Liquidation Costs, and Market Efficiency,” Western Finance Association, Scottsdale, Arizona, June 1985.
“Intermediate Agricultural Firms as Diversifiers of Output Risk,” Western Economics Association, San Francisco, California, July 1986.
Discussion of “Ownership Structure Across Lines of Property-Casualty Insurance,” Western Economics Association, San Francisco, California, July 1986.
Discussion of “Changes in Ownership Structure: Conversions of Mutual Savings and Loans to Stock Charter,” Western Economics Association, San Francisco, California, July 1986.
“Price Discrimination through Offers to Match Price,” American Economics Association, New Orleans, Louisiana, December 1986.
“Determinants of Hedging and Risk Premium Commodity Futures Markets,” Western Finance Association, La Jolla, California, June 1987; European Finance Association, Madrid, Spain, September 1987; American Finance Association, Chicago, Illinois, December 1987.
“Residual Risk, Trading Costs and Commodity Futures Risk Premia,” Western Economics Association, Vancouver, British Columbia, July 1987.
“Share Tendering Strategies and the Success of Hostile Takeover Bids,” Symposium on Strategic Issues in Financial Contracting, Bloomington, Indiana, August 1987; Western Finance Association, Napa, California, June 1988; American Finance Association, New York, New York, December 1988.
“Risk, Futures Pricing, and the Organization of Production in Commodity Markets,” Western Finance Association, Napa, California, June 1988
“Managerial Reputation, Project Choice and Debt,” Western Finance Association, Seattle, Washington, June 1989.
Discussion of “The Mode of Acquisition in Takeovers: Taxes and Signaling,” Western Finance Association, Seattle, Washington, June 1989.
Discussion of “The Expropriation of Quasi-Rents in Corporate Control Changes; Do Incumbent Managers Protect 'Stakeholders'?,” American Economics Association, Atlanta, December 1989.
“Board Dismissals, Takeovers and Managerial Performance,” American Finance Association, Washington DC, December 1990.
Discussion of “Corporate Limited Liability and the Design of Corporate Taxation,” Western Finance Association, Grand Teton, June 1991.
“Resolution Preference and Project Choice,” Hilliard-Lyons Symposium on Design of Contracts, Institutions and Markets, Bloomington, Indiana, August 1991; American Finance Association, New Orleans, January 1992.
“Market-Based Estimates of Value Improvements from Takeovers: An Intervention Approach,” American Finance Association Meetings, Anaheim, January 1993; Econometric Society Winter Meetings, Boston 1994.
Discussion of “Equilibrium Dominance in Experimental Financial Markets,” Econometric Society North American Meetings, Anaheim, January 1993.
“Security Analysis and Trading Patterns when Some Investors Receive Information Before Others,” Western Finance Association 1993 Meetings, British Columbia, Econometric Society 1993 Summer Meetings, Boston, and American Finance Association 1994 Winter Meetings, Boston.
Discussion of “A Model of Managerial Discretion and Corporate Takeovers,” Econometric Society 1993 Summer Meetings, Boston.
“Market-Based Estimates of Value Improvements from Takeover: An Intervention Approach.” Econometric Society 1994 Winter Meetings, Boston.
Discussion of “Backwardation in Oil Futures Markets: Theory and Empirical Evidence,” American Finance Association 1994 Winter Meetings, Boston.
Discussion of “Dynamic Capital Structure under Managerial Entrenchment,” NBER, December 1994 Corporate Finance Program Meeting, Cambridge.
“Institutional Memory, Escalation, and Investment Decisions,” American Finance Association 1994 Winter Meetings, Washington DC
Discussion of “Power Struggles and Inefficiency,” NBER Corporate Finance Program Meeting, Cambridge, March 1995.
“Limited Observability, Reporting Biases, and Informational Cascades.” 1995 Public Choice Meetings, Long Beach, CA.
“Institutional Memory, Inertia, and Impulsiveness.” 1995 Public Choice Meetings, Long Beach, CA.
Discussion of “The Capital Budgeting Process, Incentives and Information,” Western Finance Association Meetings, Aspen, Colorado, June 1995.
“A Theory of Costly Sequential Bidding,” Association of Financial Economists/American Economics Association, 1/4/97, New Orleans.“Flexibility and Corporate Strategy,” Association of Financial Economists, 1/4/97, New Orleans.
Discussion of “Conflicts of Interest and the Credibility of Underwriters' Analysts' Recommendations”, 1/4/97, American Finance Association, New Orleans.
“A Theory of Overconfidence, Self-Attribution, and Security Returns Anomalies,” National Bureau of Economic Research Asset Pricing conference, Evanston, November 1996; National Bureau of Economic Research and Russell Sage Foundation Behavioral Finance seminar, April (1997), Western Finance Association Annual Meetings, San Diego, CA, June (1997), European Finance Association Meeting (1997).
Discussion of “Monitored Finance, Liquidity, and Institutional Investment Choice,” Western Finance Association Annual Meetings, San Diego, June (1997) .“Observational Learning and Herding in Financial Markets,” Focus session talk, European Summer Symposium in Financial Markets, Studienzentrum Gerzensee, 7/17/97, Switzerland.
“Market Information Aggregation and the Conditional Skewness of Stock Returns,” with Josh Coval, Conference on Financial Economics and Accounting, Amherst, New York, November 8, 1997. Later entitled “Sidelined Investors, Trading-Generated News, and the Conditional Moments of Stock Returns,” presented at the Society of Financial Studies Conference on Market Frictions and Behavioral Finance, Kellogg School, April 14, 2000. Presented at the UCLA conference on Liquidity, April 29, 2000.
“Investor Psychology and Capital Asset Pricing,” Econometric Society Winter Meetings, Chicago, January 1998; Yale Behavioral Finance Conference, New Haven, 1998; UCLA Conference on Efficient Markets, Los Angeles, April 1998; Berkeley Finance Program, Santa Barbara, September 1998, NBER Asset Pricing Program, U. Chicago, October,Round Table Panelist, Mitsui Conference on Corporate Diversification, U. Michigan, December 1998.
“Investor Psychology and Asset Pricing” (invited survey), American Finance Association Meetings, January 2001, New Orleans.
“Investor Psychology in Capital Markets: Evidence and Policy Implications,” Carnegie-Rochester Conference Series in Public Policy, Rochester, NY, April, 2001.
“Self-Deception and Deception in Capital Markets,” Paris, France, December 7-8.
“Limited Attention, Information Disclosure, and Financial Reporting,” American Finance Association, January 2003 meetings, Washington D.C., Journal of Accounting and Economics conference, October 2002; American Accounting Association Meetings, Hawaii, 2003.
“Can Individual Investors Beat the Market?” Western Finance Association Meetings, June 2002.
“Do Takeovers Create Value? New Methods and Evidence,” Sanjai Bhagat, Ming Dong, David Hirshleifer, and Robert Noah, Northern Finance Association Meetings.
“Do Individual Investors Drive Post-Earnings Announcement Drift? Direct evidence from personal trades,” David Hirshleifer, James N. Myers, Linda A. Myers and Siew Hong Teoh, Third Annual Utah Accounting Conference, February 2003; American Finance Association 2004 Annual Meetings, San Diego, CA.
“Does Investor Misvaluation Drive the Takeover Market?” Ming Dong, David Hirshleifer, Scott Richardson, and Siew Hong Teoh, National Bureau of Economic Research, Behavioral Finance Program Meeting, Chicago, IL, April 2003, Behavioral Finance Program, April, 2003, University of Chicago; Analyzing Conflict: Insights from the Natural and Social Sciences, conference, UCLA, April 25, 2003. Western Finance Association Meetings, Los Cabos, Mexico, June 18-21, 2003, European Finance Association Meetings, August 20-23, 2003, Glasgow, Scotland. To be presented, 2005 China International Conference in Finance, Kunming, China, 2005.
“Feedback and the Survival of Irrational Traders,” Avanidhar Subrahmanyam, David Hirshleifer, and Sheridan Titman, presented by co-author as keynote address for Australasian Banking and Finance Conference, Sydney, Australia, December, 2002
“Investor Misperceptions of Balance Sheet Information: Net Operating Assets and the Sustainability of Financial Performance,” Later entitled, “Do Investors Overvalue Firms with Bloated Balance Sheets?”, David Hirshleifer, Kewei Hou, Siew Hong Teoh and Yinglei Zhang, Journal of Accounting and Economics conference, October 2003, Kellogg School, Northwestern University, Evanston IL; National Bureau Of Economic Research, Behavioral Finance Program Meeting, April 10, 2004, University of Chicago; 2004 Annual Meeting of the European Finance Association August 18-21, Maastricht, The Netherlands; 2004 Annual Meeting of the American Accounting Association, Orlando, Florida..
“Disclosure to a credulous audience: The role of limited attention,” 14th Annual Conference on Financial Economics and Accounting, Indiana University, Bloomington, Indiana, October 31- November 1, 2003.
“Fear of The Unknown: The Effects of Familiarity on Financial Choices,” Western Finance Association 2004 Annual Meetings, Vancouver, Canada; 2005 China International Conference in Finance, Kunming, China, 2005.
American Economics Association 2005 Annual Meetings, Discussion of “Fear and Greed in Financial Markets: A Clinical Study of Online Futures Traders,” Philadephia, Pennsylvania.
Keynote speaker at UK Money, Macro and Finance Study Group annual conference, “Psychology in Firms and Markets,” Cass School of Business, London, September 2004Invited Speaker, European Investment Review Annual Conference, “A Tour of Behavioral Finance,” Cass School of Business, London, September 2004.
“Aggregate Balance Sheet Bloat: Do Net Operating Assets Predict the Stock Market?” 15th Annual Conference on Financial Economics and Accounting, Los Angeles, CA, Marshall School of Business, University of Southern California, November 19-20, 2004; Financial Research Association Meetings, Las Vegas, Nevada, December 18-19 2004.
“Limited Investor Attention and Earnings-Related Under- and over-reactions,” American Accounting Association Annual Meetings, August 10, 2005, San Franscisco, CA.
“Do Short-Sellers Arbitrage Accounting-Based Stock Market Anomalies?” American Accounting Association Annual Meetings, August 9, 2005, San Franscisco, CA; to be presented, American Finance Association Annual Meetings, January 2006, Boston, MA.
“Investor Psychology and Tests of Factor Pricing Models,” (current version preliminary), First Annual Empirical Asset Pricing Retreat in Amsterdam, June 3rd, 2005.
Papers at Seminars:
“Risk, Equilibrium, and Futures Markets,” Economics Department, U. Chicago 1983, 1984; Boston U.; AGSM, UCLA; Wharton; GSB, NYU; U. Washington; Washington U.; School of Business, U. Illinois; School of Business, Rochester; Jan-March, 1984.
“Price Matching and Price Beating” (approx. 1985), Economics Department, UCLA.
“Dynamic Futures Hedging, Trading Costs and Risk Premia in a General Equilibrium Framework,” GSM, UCLA, September 19, 1986.
“Residual Risk, Trading Costs, and Commodity Futures Risk Premia,” UBC, School of Commerce, July 1987.
“Futures versus Share Contracting as Means of Diversifying Output Risk,” AGSM, UCLA, August (1988).
“Share Tendering Strategies and the Success of Hostile Takeover Bids,” Carnegie-Mellon, September 1988; Northwestern, September 1988; UC Berkeley October 1988;Vanderbilt, November 1988; Stanford, February 1989.
“Dismissals, Takeovers and Managerial Performance,” University of Minnesota, January 1990, U. Illinois, February 1990; Purdue, February 1990.
“Resolution Preference and Project Choice,” Stanford, October 1990; Michigan, December 1990; Northwestern, December 1990; Wharton, February 1991; Columbia, March 1991; MIT, March 1991.
“A Theory of Fads, Fashion, Custom and Cultural Change as Informational Cascades,” U. Chicago Rational Choice Seminar, April 1991; UC Berkeley, economics department, April 1992.
“Market-Based Estimates of Value Improvements from Takeovers: An Intervention Approach,” UBC, 1993, U. Washington, Seattle, 1993, University of Chicago Legal, Economic, and Organizational Workshop, November 1997, University of Southern California, January 1999 . Revised title: “Do Takeovers Create Value: New Methods and Evidence,” University of Michigan Business School, September 2001.
“Institutional Memory, Inertia, and Impulsiveness,” Economics Department, Michigan, Ann Arbor 1994; Southern Methodist University, April 1995; Duke University, April 1995.
“A Theory of Costly Sequential Bidding,” Economics Department, UCLA, April 1990; University of Chicago Graduate School of Business, University of Illinois at Urbana Champaign; Stanford University Economics and Finance Department, and University of California, Berkeley, April 1995, Finance Department, UCLA, August 1995, Duke University, New York University, Columbia University, and University of Michigan, October 1995, Northwestern University, November 1995, London School of Economics, July 1997.
Discussion of “Competition and Financial Structure in Japanese Firms,” Fifth Mitsui Life Symposium, November 7, 1997, Ann Arbor, Michigan.
“Investor Psychology and Security Market Under- and Over-Reactions,” UCLA October 1996, University of California, Berkeley, March 1997, Stanford University, March 1997, University of Florida, Gainesville, March 1997, Northwestern University, November 1996, Ohio State University, April 1997, Washington University, St. Louis, April 1997; London School of Economics, July 1997, University of Chicago, November 1997.
“Investor Overconfidence, Covariance Risk, and Predictors of Security Returns,” MIT, 1998, University of Southern California, April 1998; Ohio State University, May 1998; Hong Kong University of Science and Technology, July 1998; Cornell University, September 1998; Boston College, December 1998, Dartmouth College, January 1999.
“Conversation, Social Learning and Informational Cascades,” with H. Henry Cao, University of Wisconsin, Madison, April 2000; University of Chicago Workshop on Theory and Organizations, April 2000.
“Investor Psychology and Asset Pricing,” Fisher College of Business, Dice Finance Seminar, 2000
“Do Takeovers Create Value: New Methods and Evidence,” University of Michigan Business School, 2001.
“Understanding Stock Market Continuation and Reversal: Measuring Analyst and Investor Biases,” Ohio State University, October, 2001.
“Can Individual Investors Beat the Market?” Harvard Business School, 2001; Anderson Graduate School of Management, UCLA, 2001; Federal Reserve Bank of Atlanta, 2001; University of Maryland, 2001.
“Overconfidence and the Forward Discount Puzzle,” Dice Finance Seminar, Ohio State University, December 2001.
“Disclosure to a Credulous Audience, the Role of Limited Attention,” Ohio State University, Applied Economics Seminar, October, 2001, Fuqua School of Business, Duke University, March 2002; Stern School of Business, NYU, April 2002, Pennsylvania State University, April 2002, Princeton University, December 2002.
“Limited Attention, Information Disclosure, and Financial Reporting,” University of Southern California, July 2002, University of California, Los Angeles, July 2002, Princeton University, December 2002.
“Do Individual Investors Drive Post-Earnings Announcement Drift?” Ohio State University, February, 2002; University of Michigan Business School, March 2002, Pennsylvania State University, April, 2002; University of Maryland, April 2002; University of Illinois Urbana-Champaign, 2001; Washington University at St. Louis 2001.
“Does Investor Misvaluation Drive the Takeover Market?” Columbia University, September 2002; Harvard Business School, September 2002, York University, Toronto, Canada, September 2002, Tilburg University, August 2003, New York University, November 2003.
“Fear of The Unknown: The Effects of Familiarity on Financial Choices,” University of North Carolina, March 2003; Duke University, March 2003.
“Do Investors Overvalue Firms with Bloated Balance Sheets?” Ohio State University, Fisher College of Business, 3/31/04; University of California, Berkeley, April 15, 2004; Stanford University, Graduate School of Business, April 14, 2004
“Feedback and the Survival of Irrational Traders,” University of California, Irvine, Graduate School of Management, April 8, 2005.
Other Professional Activities:
Director, American Finance Association, 2000-2002.
Editor, Review of Financial Studies, 1994-7.
Associate Editor, Journal of Finance, 2003-
Associate Editor, Review of Financial Studies, 1990-4, 1997-9
Associate Editor, Journal of Financial Intermediation, volumes III -
Associate Editor, Journal of Corporate Finance, 1994-
Coeditor, Journal of Economics and Management Strategy, 1993-
Advisory Editor, Economics Letters, 2002-
Special Issues Editor, Journal of Financial Intermediation, 2000 Amsterdam Symposium, “The Blurring of Boundaries between Financial Institutions and Markets and Its Implications for Corporate Finance”
Advisory Editor, SSRN Journal in Behavioral and Experimental Finance, 2004-
Associate, Behavioral and Brain Sciences, 2004-
National Bureau of Economic Research, Behavioral Finance Working Group
Panelist, Finance PhD Student Doctoral Consortium, Financial Management Association, Toronto, October 1993.
Reviewer for Review of Financial Studies, Journal of Finance, Journal of Financial Economics, Journal of Political Economy, American Economic Review, Econometrica, Economic Journal, Rand Journal of Economics, Journal of Business, Journal of Economic, Journal of Economic Theory, Behavior and Organization, Journal of Financial and Quantitative Analysis, Journal of Financial Intermediation, Management Science, Quarterly Journal of Economics, Journal of Accounting and Economics, Journal of Economics and Management Strategy, Economic Inquiry, Canadian Journal of Economics, Journal of Monetary Economics, Scandinavian Journal of Economics, Finance (Journal of the French Finance Association), American Journal of Political Science, Journal of Industrial Economics, European Economic Review, Economica, Economic Letters, Physical Review Letters, Strategic Management Journal, Financial Review, Economic Development and Cultural Change, Journal of Development Economics, Managerial and Decision Economics, Journal of Economic Surveys, Journal of Futures Markets, Cambridge University Press, MIT Press, Hong Kong Research Grants Council, National Science Foundation.
Program Committee, Western Finance Association Meetings, 1988-
1995 American Finance Association Nominations Committee
Reviewer, Symposium on Dynamic and Static Informational Issues in Finance, Bloomington, Indiana, August 1989.
Session Organizer, Mitsui conference on finance and accounting, Ann Arbor, Michigan, October 1994
Session Chair, Western Finance Association Meetings, Aspen, Colorado, June 1995.
Session Chair, American Finance Association Meetings, New Orleans, 1997.
Focus Session Organizer, CEPR, on Herding and Financial Markets, European Summer Symposium in Financial Markets, Studienzentrum Gerzensee, 7/17/97, Switzerland. Gerzensee, Switzerland, July 1997.Reviewer, Society for Financial Studies Conference, Texas, 1999
Program Committee, Society for Financial Studies Conference on market frictions and behavioral finance, Northwestern University, April 14-16, 2000.
Program Committee and Session Chair, American Finance Association Annual Meetings, January 2001, New Orleans.
Program Committee, Society for Financial Studies Conference on experimental and behavioral finance, Mannheim University on 13- 14, December 2002.
Program Committee of the 2003 China International Conference in Finance, co-organized by the MIT Sloan School of Management and the China Center for Financial Research, Tsinghua University, Shanghai, China, July 8-9, 2003.
Program Committee, 2005 Annual Meeting, American Finance Association, Philadelphia, January 7-9, 2005; Session chair
Program Committee, Journal of Financial Intermediation Conference, Berlin, June 2005
Program Committee, European Finance Association Meetings, Moscow, 2005.
External promotion and grant reviews for various universities and national resesearch funding agencies such as NSF.
Consultant to corporations and investment banking firms
PhD Academic Supervision:
Committee chair at Fisher College of Business (Ming Dong, Qinghai Wang, Sonya Seongyeon Lim, Danling Jiang); member of several doctoral dissertation committees.
Member of about 23 PhD Committees at UCLA for students in various areas, chaired two (D. Asquith, A. Subrahmanyam).
Member of about 5 PhD committees at University of Michigan, chaired 2 (T. Burch, J. Prendergast).
Behavioral Finance (MBA)
Theory of Finance (MBA)
Takeovers and Corporate Control (MBA)
Speculative Markets (MBA)
Corporate Financial Policy (MBA)
Seminar in Corporate Finance (PhD)
Research Methods in Management (supervising PhD research papers)
Seminar in Finance, Psychology and Organizations (PhD)
Psychology and Finance (PhD)
Grants:
Co-investigator, Ming Dong and David Hirshleifer, “Behavioral finance: Does stock market misvaluation influence managerial and investor decisions?” Social Sciences and Humanities Research Council of Canada (SSHRC) grant for 2003-2005.
Co-Principal Investigators Hal Arkes and David Hirshleifer, National Science Foundation (NSF) 0339178, “Reference Point Adaptation and Mental Accounting: Dynamic Extensions of Prospect Theory,” Collaborators Danling Jiang and Sonya Lim
NSF Decision, Risk, and Management Science Program REU
Administrative:
Fisher College of Business, College Personnel Committee, 2005-7
Fisher College of Business Finance Department Executive Committee, 2002-3
Fisher College of Business Research Committee, 2002-4; Chair, 2004-
Distinguished Scholar Award Committee, 1999-2002 , Ohio State University
Endowed Appointments Committee, 1999- , Fisher College of Business.
Research and Publications Committee, University of Michigan, 1994-8; Chair, 1996-8
Speaker on Research Values and Support, UMBS New Faculty Orientation, September 1997, September 1998.
Seasoned Faculty Recruiting Committee, U. Michigan Finance Department, 1994-5.
Advisory Board, Michigan Business School Society of Scholars, 1994-5.
Finance Doctoral Program Coordinator, University of Michigan, 1994–5.
Doctoral Studies Committee, University of Michigan, 1994-5.
Committee on Faculty Governance and Involvement, University of Michigan, 1994-5.
Finance Doctoral Program Coordinator, UCLA, 1986-90, 1992-4.
UCLA Finance Seminar Coordinator, 1992-4.
Member of UCLA Legislative Assembly, 1987-89.
Member of AGSM, UCLA Doctoral Board, 1986-7, 1993-4.
Member of various other business school committees and forums.
1997 American Association of Individual Investors Award for Best Paper on Investments at the Western Finance Association Meeting.
1998 Best Paper Award for the 1998 National Taiwan University International Conference on Finance, Taiwan.
1999 Smith-Breeden award for outstanding paper in the Journal of Finance.
For the paper: “Investor Psychology and Security Market Under- and Over- Reactions” with Kent Daniel and Avanidhar Subrahmanyam, Journal of Finance, December, 1998, pp. 1839-85.Nominated for the Smith-Breeden award for outstanding paper in the Journal of Finance: “Overconfidence, Arbitrage and Equilibrium Asset Pricing” with Kent Daniel and Avanidhar Subrahmanyam, Journal of Finance, 56 (3), June (2001): 921-965,
Nominated for the Smith-Breeden award for outstanding paper in the Journal of Finance: “Good Day Sunshine: Stock Returns and the Weather,” David Hirshleifer and Tyler Shumway, Journal of Finance, June, (2003):1009-1032.
Press Appearances:
General:
Business Week 11/2/98; Wall Street Journal, 11/7/00, Florida Times-Union, 11/12/00, CFO Magazine, January 2001; Knowledge@Wharton, October 2001; Businessweek.com January 2003; Business Week Online March 2003; CFO (Australia) cover story, “Big Ideas,” Elizabeth Fry, February 2005
“Can Individual Investors Beat the Market?” Joshua Coval, David Hirshleifer and Tyler Shumway
Covered in New York Times, Washington Post, National Review Online, Seattle Times, Houston Chronicle, Newsday, International Herald Tribune, Investor's Business Daily,TheState.com, La Stampa, Projo.com (The Providence Journal), staugustine.com (St. Augustine Record), Dow Jones Newswires, San Antonio Business Journal, San Jose Business Journal, NationalReview Online, Seattle Times, Dow Jones News Service, www.sciencecoalition.org, SmartMoney.com, “When to Follow Analysts,” By Paul Sturm, April 14, 2003.
“Good Day Sunshine: Stock Returns and the Weather,” David Hirshleifer and Tyler Shumway, Journal of Finance, June, (2003):1009-1032:
Covered in various television, radio, magazine, newpaper and online outlets, including CNN Moneyline Weekend, CNBC, BBC, The Today Show, CTV (Canada TV), Time Magazine, Reuters, Associated Press, Forbes, Psychology Today, The Economist, Agence France Presse, La Tribune, Time Magazine, Washington Post, New York Post, Financial Times, Independent on Sunday (London), National Post, New York Times, Philadelphia Inquirer, Sydney Morning Herald, Irish Times, Augusta Chronicle, Cincinnati Enquirer, Canada Radio National, Australia Radio National, E*TRADE On Air, KISS Radio 108 Boston, NYTimes.com, CNNfn, money.com, salon.com, Yahoo!Finance, Asiaweek, Harper’s, Edmonton Journal, newscientist.com, timesdispatch.com, www.pbs.org, www.salon.com, news.bbc.co.uk, Yahoo! France. Finance, Boersen-Zeitung, , World on the Web, July 7/14, 2001, Vo. 16, No. 26; Vicenza News Magazine, “La borsa e il tempo,” 26/09/2001 .and outlets in Finland, Norway, Vietnam, and elsewhere.
“A Rational Economic Approach to the Psychology of Change: Amnesia, Inertia, and Impulsiveness,” with Ivo Welch, Journal of Economics and Management Strategy.
Profiled in The Economist, 12/24/94-1/6/95, (p. 91).
“A Theory of Fads, Fashion, Custom, and Cultural Change as Informational Cascades,” with Sushil Bikhchandani and Ivo Welch, Journal of Political Economy, 100(5), October (1992):992-1026.
Profiled in The Economist, 2/19/94 (p. 81), Investor’s Business Daily, 3/31/94 (p. 4), The Observer of Business and Politics, New Delhi, 3/1/94, Business Week, 2/13/95 (p. 84-5), Fortune, 10/14/96 (p. 49-52), Business 2.0 http://www.business2.com/articles/mag/0,1640,42579,00.html Sept 2002, The New Republic Online, Le Quebecois Libre, November 22, 2003; soldionline.it 16 October 2002; The Library of Economics and Liberty, August 4, 2003
“Does investor misvaluation drive the takeover market?” Ming Dong, David Hirshleifer, Scott Richardson and Siew Hong Teoh, February 2003, Ohio State University working paper,
Profiled in The Economist, July 31, 2003
“Do Takeovers Create Value? New Methods and Evidence,” with Robert Noah and Sanjai Bhagat
Profiled in The Economist, 2/21/2004, p. 67-9, The Denver Post.
