Bradford Cornell

California Institute of Technology

Professor of Finance

Pasadena, CA 91125

United States

SCHOLARLY PAPERS

45

DOWNLOADS
Rank 374

SSRN RANKINGS

Top 374

in Total Papers Downloads

43,670

CITATIONS
Rank 3,564

SSRN RANKINGS

Top 3,564

in Total Papers Citations

152

Scholarly Papers (45)

1.

Tesla: Anatomy of a Run-Up Value Creation or Investor Sentiment?

Number of pages: 46 Posted: 28 Apr 2014
Bradford Cornell and Aswath Damodaran
California Institute of Technology and New York University - Stern School of Business
Downloads 28,236 (55)

Abstract:

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Valuation, Investor Sentiment, Asset Pricing

2.

The Harm in Selecting Funds that Have Recently Outperformed

Number of pages: 12 Posted: 13 Feb 2016 Last Revised: 28 Feb 2016
Bradford Cornell, Jason C. Hsu and David Nanigian
California Institute of Technology, Rayliant Global Advisors and California State University, Fullerton - Department of Finance
Downloads 2,171 (5,798)

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Asset Management, Investment Consultants, Fund Performance, Mutual Fund Selection

3.
Downloads 1,290 ( 13,696)

When is Bad News Really Bad News?

EFA 0071
Number of pages: 37 Posted: 21 Jul 1999
Jennifer S. Conrad, Bradford Cornell and Wayne R. Landsman
University of North Carolina Kenan-Flagler Business School, California Institute of Technology and University of North Carolina Kenan-Flagler Business School
Downloads 1,290 (13,397)
Citation 43

Abstract:

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When is Bad News Really Bad News?

Journal of Finance, Forthcoming
Posted: 19 Aug 2002
Jennifer S. Conrad, Bradford Cornell and Wayne R. Landsman
University of North Carolina Kenan-Flagler Business School, California Institute of Technology and University of North Carolina Kenan-Flagler Business School

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When is Bad News Really Bad News?

Journal of Finance, Vol. 57, pp. 2507-2532, 2002
Posted: 30 Jul 2003
Jennifer S. Conrad, Bradford Cornell and Wayne R. Landsman
University of North Carolina Kenan-Flagler Business School, California Institute of Technology and University of North Carolina Kenan-Flagler Business School

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How Do Analyst Recommendations Respond to Major News?

Number of pages: 49 Posted: 15 Apr 2002
University of North Carolina Kenan-Flagler Business School, California Institute of Technology, University of North Carolina Kenan-Flagler Business School and Rice University - Jesse H. Jones Graduate School of Business
Downloads 1,155 (15,959)
Citation 23

Abstract:

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Analyst Recommendations

How do Analyst Recommendations Respond to Major News?

Journal of Financial and Quantitative Analysis, Forthcoming
Posted: 21 Apr 2005
University of North Carolina Kenan-Flagler Business School, California Institute of Technology, University of North Carolina Kenan-Flagler Business School and Rice University - Jesse H. Jones Graduate School of Business

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Analyst Recommendations

5.

Warren Buffett, Black-Scholes and Long Dated Options

Number of pages: 13 Posted: 16 Jul 2009
Bradford Cornell
California Institute of Technology
Downloads 1,049 (18,762)

Abstract:

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Warren Buffett, Black-Scholes, option pricing

6.

Accounting Information, Investor Sentiment, and Market Pricing

Journal of Law, Finance, and Accounting (JLFA) , Forthcoming
Number of pages: 31 Posted: 09 Jun 2014 Last Revised: 07 Mar 2017
Bradford Cornell, Wayne R. Landsman and Stephen Stubben
California Institute of Technology, University of North Carolina Kenan-Flagler Business School and University of Utah
Downloads 959 (21,476)

Abstract:

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Investor Sentiment, Accruals Quality, Stock Prices, Equity Analysts

7.

Valuing Intel: A Strange Tale of Analysts and Announcements

Anderson School at UCLA Finance Working Paper No. 33-00
Number of pages: 40 Posted: 12 Dec 2000
Bradford Cornell
California Institute of Technology
Downloads 870 (24,737)
Citation 3

Abstract:

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valuation, Intel, volatility, analysts, announcements

8.

Dividend-Price Ratios and Stock Returns: International Evidence

Number of pages: 15 Posted: 02 Jun 2012
Bradford Cornell
California Institute of Technology
Downloads 629 (38,647)

Abstract:

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Dividend-Price Ratio, International, Returns

9.

The Divestment Penalty: Estimating the Costs of Fossil Fuel Divestment to Select University Endowments

Number of pages: 20 Posted: 04 Sep 2015
Bradford Cornell
California Institute of Technology
Downloads 570 (43,971)

Abstract:

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Investment Divestment

10.

Market Efficiency, Crashes and Securities Litigation

Number of pages: 31 Posted: 19 Dec 2005
Bradford Cornell and James Rutten
California Institute of Technology and Munger, Tolles & Olson, LLP
Downloads 565 (44,477)
Citation 4

Abstract:

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Securities litigation, Efficient Market Hypothesis

11.

The Parent Company Puzzle: When is the Whole Worth Less than One of its Parts

The Anderson School at UCLA Finance Working Paper #7-00
Number of pages: 41 Posted: 08 Nov 2000
Bradford Cornell and Qiao Liu
California Institute of Technology and The University of Hong Kong - School of Economics and Finance
Downloads 499 (52,086)
Citation 19

Abstract:

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12.

The Equity Premium Revisited

Number of pages: 11 Posted: 30 Jul 2010 Last Revised: 29 Dec 2016
Bradford Cornell, Robert D. Arnott and Max Moroz
California Institute of Technology, Research Affiliates, LLC and Research Affiliates, LLC
Downloads 479 (54,818)
Citation 2

Abstract:

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Equity Premium

13.
Downloads 437 ( 61,414)
Citation 13

A Delegated Agent Asset-Pricing Model

UCLA Finance Working Paper
Number of pages: 29 Posted: 16 Aug 2004
Bradford Cornell and Richard Roll
California Institute of Technology and California Institute of Technology
Downloads 317 (88,780)
Citation 13

Abstract:

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Asset pricing

A Delegated Agent Asset-Pricing Model

UCLA Anderson School of Management, Finance Working Papers Series 3-04
Number of pages: 27 Posted: 18 Jul 2009
Bradford Cornell and Richard Roll
California Institute of Technology and California Institute of Technology
Downloads 120 (221,189)
Citation 13

Abstract:

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asset pricing

A Delegated-Agent Asset-Pricing Model

Financial Analysts Journal, Vol. 61, No. 1, pp. 57-69, January/February 2005
Posted: 05 Feb 2005
Bradford Cornell and Richard Roll
California Institute of Technology and California Institute of Technology

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Investment Theory, CAPM, APT, and Other Pricing Theories, Portfolio Theory

14.

How Do Analysts Recommendations Respond to Major News?

Number of pages: 49 Posted: 17 Sep 2004
University of North Carolina Kenan-Flagler Business School, California Institute of Technology, University of North Carolina Kenan-Flagler Business School and Rice University - Jesse H. Jones Graduate School of Business
Downloads 411 (66,133)
Citation 23

Abstract:

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Analyst recommendations

15.

Do Institutional Investors and Security Analysts Mitigate the Effects of Investor Sentiment?

Number of pages: 33 Posted: 25 May 2011
Bradford Cornell, Wayne R. Landsman and Stephen Stubben
California Institute of Technology, University of North Carolina Kenan-Flagler Business School and University of Utah
Downloads 409 (66,552)

Abstract:

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Investor Sentiment, Institutional Investors, Security Analysts

16.

The Tesla Run-Up: A Follow-Up with Investment Implications

Journal of Portfolio Management, Forthcoming
Number of pages: 11 Posted: 06 Aug 2016
Bradford Cornell
California Institute of Technology
Downloads 396 (69,144)

Abstract:

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investments, Tesla, Valuation

17.

Passive Investing and Market Efficiency

Number of pages: 8 Posted: 21 Jun 2017
Bradford Cornell
California Institute of Technology
Downloads 364 (76,328)

Abstract:

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Passive Investing Market Efficiency

18.

Investment Research: How Much is Enough

Number of pages: 16 Posted: 28 Jul 2009
Bradford Cornell
California Institute of Technology
Downloads 326 (86,566)

Abstract:

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Investment Research

19.

Information and the Oil Price Collapse

Number of pages: 37 Posted: 26 Mar 2015
Bradford Cornell
California Institute of Technology
Downloads 263 (109,187)

Abstract:

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oil price, collapse, information, arrival

20.

Competition in Portfolio Management: Theory and Experiment

Number of pages: 47 Posted: 18 Mar 2010 Last Revised: 03 Dec 2012
University of Utah - David Eccles School of Business, University of Melbourne - Department of Finance, Yale University - Cowles Foundation, California Institute of Technology, California Institute of Technology - Division of the Humanities and Social Sciences and Toulouse Business School
Downloads 239 (120,552)

Abstract:

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asset pricing, CAPM, delegated portfolio management, mutual fund flows, experimental finance

21.

Dividend-Price Ratios and Stock Returns: Another Look at the History

Number of pages: 19 Posted: 31 May 2012
Bradford Cornell
California Institute of Technology
Downloads 235 (122,596)
Citation 1

Abstract:

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dividend price ratio, expected returns

22.

An 'Enhanced' Corporate Valuation Model: Theory and Empirical Tests

Number of pages: 25 Posted: 08 Sep 2015 Last Revised: 29 Sep 2015
Bradford Cornell and Rajiv Gokhale
California Institute of Technology and Compass Lexecon
Downloads 232 (124,207)

Abstract:

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Valuation, DCF, Market Multiples

Capital Budgeting: A 'General Equilibrium' Analysis

Number of pages: 11 Posted: 17 Oct 2014 Last Revised: 21 Oct 2014
Bradford Cornell
California Institute of Technology
Downloads 152 (182,863)

Abstract:

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capital budgeting, discount rates

Capital Budgeting: A 'General Equilibrium' Analysis

Journal of Financial Perspectives, Vol. 3, No. 1, 2015
Number of pages: 12 Posted: 04 Dec 2017
Bradford Cornell
California Institute of Technology
Downloads 37 (422,104)

Abstract:

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24.

Compensation and Recruiting: Private Universities Versus Private Corporations

UCLA Finance Working Paper
Number of pages: 28 Posted: 10 Jun 2002
Bradford Cornell
California Institute of Technology
Downloads 185 (153,935)
Citation 6

Abstract:

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25.

Do Valuation Multiples Reflect a Size Effect?

Number of pages: 28 Posted: 01 Oct 2015
Bradford Cornell and Rajiv Gokhale
California Institute of Technology and Compass Lexecon
Downloads 180 (157,702)

Abstract:

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Valuation Market Multiples Size Effect

26.

Market Efficiency and Securities Litigation: Implications of the Appellate Decision in Thane

Number of pages: 14 Posted: 28 Dec 2010
Bradford Cornell
California Institute of Technology
Downloads 172 (164,223)

Abstract:

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finance, law, market efficiency, securities litigation

27.

Collateral Damage and Securities Litigation

Number of pages: 38 Posted: 16 Jul 2009
James Rutten and Bradford Cornell
Munger, Tolles & Olson, LLP and California Institute of Technology
Downloads 166 (169,446)

Abstract:

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securities, litigation, finance

28.

Beliefs Regarding Fundamental Value and Optimal Investing

Second Singapore International Conference on Finance 2008
Number of pages: 27 Posted: 20 Mar 2008 Last Revised: 10 Jun 2008
Jaksa Cvitanic, Bradford Cornell and Levon Goukasian
California Institute of Technology - Division of the Humanities and Social Sciences, California Institute of Technology and Pepperdine University - Business Division
Downloads 165 (170,330)
Citation 1

Abstract:

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Investor beliefs, mispricing, optimal portfolios, range reversion, risk premium

29.

What is the Alternative Hypothesis to Market Efficiency?

Number of pages: 10 Posted: 08 May 2018
Bradford Cornell
California Institute of Technology
Downloads 164 (171,249)

Abstract:

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Efficient Markets, Behavioral Finance

30.

The Machinery of Asset Pricing and Its Implications

Number of pages: 23 Posted: 04 Jan 2014
Bradford Cornell
California Institute of Technology
Downloads 140 (195,162)

Abstract:

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Asset pricing

31.

Estimating Terminal Values with Inflation: The Inputs Matter – It Is Not a Formulaic Exercise

Number of pages: 22 Posted: 28 Aug 2017 Last Revised: 06 Nov 2017
Bradford Cornell and Richard Gerger
California Institute of Technology and San Marino Business Partners LLC
Downloads 117 (224,327)

Abstract:

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DCF Valuation, Terminal Value

32.

Presidential Politics and Stock Returns

Number of pages: 13 Posted: 29 Apr 2017
Robert D. Arnott, Bradford Cornell and Vitali Kalesnik
Research Affiliates, LLC, California Institute of Technology and Research Affiliates LLC
Downloads 98 (254,069)

Abstract:

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Politics Stock Returns

33.

A Note on Estimating Constant Growth Terminal Values with Inflation

Number of pages: 8 Posted: 25 May 2017
Bradford Cornell and Richard Gerger
California Institute of Technology and San Marino Business Partners LLC
Downloads 94 (261,053)

Abstract:

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Valuation Inflation Constant Growth Model

34.
Downloads 79 (290,647)

Economic Growth and Equity Investing

Number of pages: 31 Posted: 18 Jul 2009 Last Revised: 29 Dec 2015
Bradford Cornell
California Institute of Technology
Downloads 79 (293,440)
Citation 3

Abstract:

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Economic Growth, Equity Investing

Economic Growth and Equity Investing

Financial Analysts Journal, Vol. 66, No. 1, 2010
Posted: 18 Feb 2010
Bradford Cornell
California Institute of Technology

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Relationship of Economic Activity to the Investment Process, Equity Investments, Fundamental Analysis and Valuation Models

35.

Dividends, Stock Repurchases, and Valuation

Journal of Applied Finance , Vol. 15, No. 2, Fall/Winter 2005
Number of pages: 12 Posted: 14 Jun 2006
Bradford Cornell
California Institute of Technology
Downloads 60 (337,345)

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36.

Accounting and Valuation: How Helpful are Recent Accounting Rule Changes?

Journal of Applied Corporate Finance, Vol. 18, No. 4, pp. 44-52, Fall 2006
Number of pages: 11 Posted: 11 Dec 2006
Bradford Cornell and Wayne R. Landsman
California Institute of Technology and University of North Carolina Kenan-Flagler Business School
Downloads 40 (401,463)
Citation 3
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37.

Information Flow and Expected Inflation: An Empirical Analysis

Number of pages: 20 Posted: 20 Dec 2015
Bradford Cornell
California Institute of Technology
Downloads 34 (425,001)

Abstract:

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Inflation, Information, Macroeconomic models

38.

The Impact of Analysts' Forecast Errors and Forecast Revisions on Stock Prices

Journal of Business Finance & Accounting, Vol. 35, Issue 5-6, pp. 709-740, June/July 2008
Number of pages: 32 Posted: 18 Jun 2008
Stanford University, California Institute of Technology, University of North Carolina Kenan-Flagler Business School and University of Utah
Downloads 3 (589,078)
Citation 8
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39.

The Self-fulfilling Prophecy of Popular Asset Pricing Models

Journal of Investment Management, vol. 14, no. 1, 2016
Posted: 08 Aug 2014 Last Revised: 28 Dec 2016
Jason C. Hsu and Bradford Cornell
Rayliant Global Advisors and California Institute of Technology

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asset pricing, expected returns, behavioral finance, discounted cash flows, utility functions

40.

Demographics, GDP and Future Stock Returns: The Implications of Some Basic Principles

Posted: 10 Jun 2012
Bradford Cornell
California Institute of Technology

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41.

The Parent Company Puzzle: When is the Whole Worth Less than One of the Parts?

Journal of Corporate Finance, Vol. 7, pp. 341-366, December 2001
Posted: 15 Apr 2002
Qiao Liu and Bradford Cornell
The University of Hong Kong - School of Economics and Finance and California Institute of Technology

Abstract:

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parent company puzzle, taxes, mispricing

42.

Is the Response of Analysts to Information Consistent with Fundamental Valuation? The Case of Intel

Financial Management, Vol. 29, Iss. 4, Winter 2000
Posted: 23 May 2001
Bradford Cornell
California Institute of Technology

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43.

Risk, Duration, and Capital Budgeting: New Evidence on Some Old Questions

Journal of Business, Vol. 72, No. 2, April 1999
Posted: 12 Feb 1999
Bradford Cornell
California Institute of Technology

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Culture, Information, and Screening Discrimination

JOURNAL OF POLITICAL ECONOMY, Vol. 104, No. 3, June 1996
Posted: 21 Jun 1996
Bradford Cornell and Ivo Welch
California Institute of Technology and University of California, Los Angeles (UCLA)

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Culture, Information, and Screening Discrimination

Posted: 02 Feb 1995
Bradford Cornell and Ivo Welch
California Institute of Technology and University of California, Los Angeles (UCLA)

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Throwing Good Money after Bad? Cash Infusions and Distressed Real Estate

REAL ESTATE ECONOMICS, Vol. 24 No. 1
Posted: 19 Apr 1996
California Institute of Technology, Simon Fraser University (SFU) and University of California, Los Angeles (UCLA) - Finance Area

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Throwing Good Money after Bad? Cash Infusions and Distressed Real Estate

UCLA Working Paper No 4-94
Posted: 18 Jul 1994
California Institute of Technology, University of California, Los Angeles (UCLA) - Finance Area and Simon Fraser University (SFU)

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