Michael J. Schill

University of Virginia ­ Darden School of Business

Professor

P.O. Box 6550

Charlottesville, VA 22906-6550

United States

http://www.darden.virginia.edu/faculty/schill.htm

SCHOLARLY PAPERS

41

DOWNLOADS
Rank 265

SSRN RANKINGS

Top 265

in Total Papers Downloads

45,042

CITATIONS
Rank 936

SSRN RANKINGS

Top 936

in Total Papers Citations

571

Scholarly Papers (41)

1.
Downloads 6,819 ( 608)
Citation 1

Methods of Valuation for Mergers &Amp; Acquisitions

UVA-F-1274
Number of pages: 22 Posted: 21 Oct 2008
Michael J. Schill, Susan Chaplinsky and Paul Doherty
University of Virginia ­ Darden School of Business, University of Virginia - Darden School of Business and affiliation not provided to SSRN
Downloads 6,495 (653)
Citation 1

Abstract:

mergers and acquisitions, valuation

Methods of Valuation for Mergers &Amp; Acquisitions

Darden Case No. UVA-F-1274
Number of pages: 22 Posted: 21 Oct 2008
Michael J. Schill, Susan Chaplinsky and Paul Doherty
University of Virginia ­ Darden School of Business, University of Virginia - Darden School of Business and affiliation not provided to SSRN
Downloads 324 (72,484)
Citation 1

Abstract:

mergers and acquisitions, valuation

2.

JetBlue Airways IPO Valuation

UVA-F-1415
Number of pages: 23 Posted: 21 Oct 2008
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 4,385 (1,015)

Abstract:

valuation

3.

Asset Growth and the Cross-Section of Stock Returns

AFA 2007 Chicago Meetings Paper
Number of pages: 54 Posted: 26 Jul 2005
Michael J. Cooper, Huseyin Gulen and Michael J. Schill
University of Utah - David Eccles School of Business, Purdue University - Krannert School of Management and University of Virginia ­ Darden School of Business
Downloads 3,488 (1,751)
Citation 113

Abstract:

Firm asset growth, stock returns, market efficiency

The Asset Growth Effect in Stock Returns

Darden Business School Working Paper No. 1335524
Number of pages: 22 Posted: 31 Jan 2009
Michael J. Cooper, Huseyin Gulen and Michael J. Schill
University of Utah - David Eccles School of Business, Purdue University - Krannert School of Management and University of Virginia ­ Darden School of Business
Downloads 2,627 (3,225)

Abstract:

Asset growth, Cross-section of stock returns

The Asset Growth Effect in Stock Returns

Journal of Investment Management, Third Quarter, 2010
Posted: 26 Oct 2010
Michael J. Cooper, Huseyin Gulen and Michael J. Schill
University of Utah - David Eccles School of Business, Purdue University - Krannert School of Management and University of Virginia ­ Darden School of Business

Abstract:

Balance sheet growth, investment, anomalies

Pricing an Emerging Industry: Evidence from Internet Subsidiary Carve-Outs

AFA 2001 New Orleans; EFA 0062
Number of pages: 48 Posted: 02 Dec 1999
Michael J. Schill and Chunsheng Zhou
University of Virginia ­ Darden School of Business and Peking University - Guanghua School of Management - Finance
Downloads 1,728 (6,646)
Citation 20

Abstract:

Pricing an Emerging Industry: Evidence from Internet Subsidiary Carve-Outs

Financial Management, Vol. 30, Iss. 3, Autumn 2001
Posted: 14 Feb 2002
Michael J. Schill and Chunsheng Zhou
University of Virginia ­ Darden School of Business and Peking University - Guanghua School of Management - Finance

Abstract:

6.

The Illusory Nature of Momentum Profits

Journal of Financial Economics, Vol. 71, No. 2, pp. 349-380
Number of pages: 48 Posted: 29 May 2003
David A. Lesmond, Michael J. Schill and Chunsheng Zhou
Tulane University - A.B. Freeman School of Business, University of Virginia ­ Darden School of Business and Peking University - Guanghua School of Management - Finance
Downloads 1,650 (6,380)
Citation 121

Abstract:

Trading Strategies, Momentum, Transaction Costs

7.
Downloads 1,517 ( 8,470)

California Pizza Kitchen

Darden Business Publishing No. UVA-F-1553
Number of pages: 15 Posted: 12 Aug 2008
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 875 (19,692)

Abstract:

Business case, Capital structure, Debt policy, Tax shields

California Pizza Kitchen

Darden Case No. UVA-F-1553
Number of pages: 18 Posted: 14 Jun 2009
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 642 (30,653)

Abstract:

capital structure, debt policy

8.

The Overseas Listing Decision: New Evidence of Proximity Preference

Review of Financial Studies, 2004, 17(3), 769-809, Darden Business School Working Paper No. 03-07
Number of pages: 57 Posted: 29 May 2003 Last Revised: 13 Nov 2012
Sergei Sarkissian and Michael J. Schill
McGill University and University of Virginia ­ Darden School of Business
Downloads 1,503 (7,610)
Citation 107

Abstract:

Cross-listings, Familiarity Bias, Diversification

Asset Pricing When Returns Are Nonnormal: Fama-French Factors vs. Higher-Order Systematic Co-Moments

Journal of Business, Forthcoming
Number of pages: 27 Posted: 16 Feb 2004
Y. Peter Chung, Herb Johnson and Michael J. Schill
University of California at Riverside, University of California, Riverside (UCR) - Department of Finance and Management Science and University of Virginia ­ Darden School of Business
Downloads 843 (20,808)
Citation 35

Abstract:

Asset Pricing When Returns Are Nonnormal: Fama-French Factors vs. Higher-Order Systematic Co-Moments

Number of pages: 23 Posted: 17 May 2001
Y. Peter Chung, Herb Johnson and Michael J. Schill
University of California at Riverside, University of California, Riverside (UCR) - Department of Finance and Management Science and University of Virginia ­ Darden School of Business
Downloads 543 (38,416)
Citation 35

Abstract:

10.

Value Line Publishing, October 2002

UVA-F-1403
Number of pages: 13 Posted: 21 Oct 2008
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 1,303 (10,878)

Abstract:

financial ratios, financial-statement analysis, forecasting, investment analysis, security analysis, sensitivity analysis

11.

Flinder Valves and Controls Inc.

Darden Case No. UVA-F-1573
Number of pages: 15 Posted: 14 Jun 2009
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 1,137 (10,542)

Abstract:

mergers and acquisitions, negotiation

12.
Downloads 1,104 ( 14,107)

Ben &Amp; Jerry's Homemade

UVA-F-1364
Number of pages: 17 Posted: 21 Oct 2008
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 917 (18,349)

Abstract:

milgram, takeovers, corporate objectives, asset control, corporate valuation, multiples

Ben &Amp; Jerry's Homemade

Darden Case No. UVA-F-1364
Number of pages: 17 Posted: 21 Oct 2008
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 187 (128,960)

Abstract:

milgram, takeovers, corporate objectives, asset control, corporate valuation, multiples

13.
Downloads 1,080 ( 14,575)

Carrefour S.A.

UVA-F-1470
Number of pages: 11 Posted: 21 Oct 2008
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 752 (24,617)

Abstract:

debt policy, interest rates, international finance

Carrefour S.A.

Darden Case No. UVA-F-1470
Number of pages: 11 Posted: 21 Oct 2008
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 328 (71,512)

Abstract:

debt policy, interest rates, international finance

14.

eBay Inc.

Number of pages: 35 Posted: 30 Apr 1999
Jason Burnett and Michael J. Schill
University of California, Riverside (UCR) and University of Virginia ­ Darden School of Business
Downloads 1,052 (14,459)

Abstract:

15.
Downloads 1,042 ( 15,445)
Citation 11

On the Scope and Drivers of the Asset Growth Effect

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming, Darden Business School Working Paper No. 1341298
Number of pages: 68 Posted: 12 Feb 2009 Last Revised: 14 Jul 2013
Marc L. Lipson, Sandra Mortal and Michael J. Schill
University of Virginia - Darden School of Business, University of Memphis and University of Virginia ­ Darden School of Business
Downloads 671 (28,865)
Citation 11

Abstract:

Investment; Stock returns; Arbitrage costs; Market efficiency

What Explains the Asset Growth Effect in Stock Returns?

Number of pages: 46 Posted: 23 Mar 2009
Marc L. Lipson, Sandra Mortal and Michael J. Schill
University of Virginia - Darden School of Business, University of Memphis and University of Virginia ­ Darden School of Business
Downloads 371 (61,750)
Citation 11

Abstract:

Arbitrage risk, Asset Growth, Mispricing, Transaction costs, Holding costs

16.

Cross-Listing Waves

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 70 Posted: 22 Aug 2008 Last Revised: 17 May 2014
Sergei Sarkissian and Michael J. Schill
McGill University and University of Virginia ­ Darden School of Business
Downloads 955 (16,794)
Citation 14

Abstract:

Firm valuation; Market competitiveness; Stock exchanges; Trade flows

17.

Are There Permanent Valuation Gains to Overseas Listings?

Darden School of Business Working Paper No. 03-03
Number of pages: 51 Posted: 02 Aug 2004 Last Revised: 10 Oct 2007
Sergei Sarkissian and Michael J. Schill
McGill University and University of Virginia ­ Darden School of Business
Downloads 940 (15,879)
Citation 37

Abstract:

Overseas Listing, International Cost of Capital, Cross Listing

18.

Rosetta Stone, Inc.: Pricing the 2009 IPO

Darden Business School Working Paper No. 2026599
Number of pages: 23 Posted: 22 Mar 2012
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 922 (6,899)

Abstract:

IPO Valuation Case

Darden Capital Management-The Monticello Fund

UVA-F-1464
Number of pages: 11 Posted: 21 Oct 2008
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 547 (38,054)

Abstract:

capital asset pricing model, investment analysis

Darden Capital Management-The Monticello Fund

Darden Case No. UVA-F-1464
Number of pages: 11 Posted: 21 Oct 2008
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 273 (87,846)

Abstract:

capital asset pricing model, investment analysis

20.

An Introduction to Technical Analysis

Darden Case No. UVA-F-1547
Number of pages: 11 Posted: 14 Jun 2009
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 758 (22,791)

Abstract:

forecasting

21.

Long-Run Seasoned Equity Offering Returns: Data Snooping, Model Misspecification, or Mispricing? A Costly Arbitrage Approach

Number of pages: 34 Posted: 10 Jul 2002
Jeffrey Pontiff and Michael J. Schill
Boston College - Department of Finance and University of Virginia ­ Darden School of Business
Downloads 594 (33,018)
Citation 16

Abstract:

Seaoned equity offerings, arbitrage costs

22.
Downloads 593 ( 34,643)
Citation 2

Do Firms Believe in Interest Rate Parity?

AFA 2006 Boston Meetings Paper
Number of pages: 33 Posted: 24 Feb 2005 Last Revised: 09 Jun 2011
Matthew R. McBrady, Sandra Mortal and Michael J. Schill
University of Virginia - Darden School of Business, University of Memphis and University of Virginia ­ Darden School of Business
Downloads 386 (58,909)
Citation 2

Abstract:

Interest rate parity, international bonds, currency timing, opportunistic financing

Do Firms Believe in Interest Rate Parity?

Review of Finance, Forthcoming
Number of pages: 45 Posted: 08 Mar 2008 Last Revised: 18 Aug 2010
Matthew R. McBrady, Sandra Mortal and Michael J. Schill
University of Virginia - Darden School of Business, University of Memphis and University of Virginia ­ Darden School of Business
Downloads 207 (117,065)
Citation 2

Abstract:

Corporate borrowing, interest rate parity

23.

The Thoughtful Forecaster

UVA-F-1490
Number of pages: 17 Posted: 21 Oct 2008
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 526 (32,098)

Abstract:

financial ratios, financial forecasting

24.

Roche Holding AG: Funding the Genentech Acquisition

Darden Business School Working Paper No. 2026615
Number of pages: 18 Posted: 22 Mar 2012
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 508 (23,448)

Abstract:

Cost of Debt, Risk Premium, Credit Risk, Bond Valuation

25.

EMI Group PLC

Darden Case No. UVA-F-1552
Number of pages: 20 Posted: 14 Jun 2009
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 442 (42,064)

Abstract:

dividend policy

26.

ebay Inc. (A)

UVA-F-1357
Number of pages: 15 Posted: 21 Oct 2008
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 411 (53,095)

Abstract:

internet, valuation, initial public offering

Are Acquisitions Unique? Evidence of the Pedestrian Nature of Post-Merger Returns

Number of pages: 41 Posted: 15 Mar 2010 Last Revised: 14 Dec 2012
Sandra Mortal and Michael J. Schill
University of Memphis and University of Virginia ­ Darden School of Business
Downloads 201 (120,438)
Citation 2

Abstract:

takeover returns, asset growth, long-run returns

The Post-Deal Returns of Acquiring Firms: Evidence of an Investment-based Explanation

Number of pages: 43 Posted: 16 Mar 2011 Last Revised: 07 Jun 2013
Sandra Mortal and Michael J. Schill
University of Memphis and University of Virginia ­ Darden School of Business
Downloads 105 (207,936)
Citation 1

Abstract:

Takeovers, firm valuation, market efficiency, asset growth

28.

Sailing in Rough Water: Market Volatility and Corporate Finance

Darden School of Business Working Paper No. 03-08
Number of pages: 37 Posted: 28 May 2003
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 285 (81,017)
Citation 8

Abstract:

Equity Offerings, Market Volatility, Underwriting, Underpricing

29.
Downloads 278 ( 86,589)

Ebay, Inc. (B)

UVA-F-1358
Number of pages: 2 Posted: 21 Oct 2008
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 224 (108,159)

Abstract:

internet, valuation, initial public offering

Ebay, Inc. (B)

Darden Case No. UVA-F-1358
Number of pages: 2 Posted: 21 Oct 2008
Jason Burnett and Michael J. Schill
affiliation not provided to SSRN and University of Virginia ­ Darden School of Business
Downloads 54 (309,110)

Abstract:

internet, valuation, initial public offering

30.

The Nature of the Foreign Listing Premium: A Cross-Country Examination

Darden Business School Working Paper No. 1639848
Number of pages: 51 Posted: 16 Jul 2010 Last Revised: 04 Feb 2012
Sergei Sarkissian and Michael J. Schill
McGill University and University of Virginia ­ Darden School of Business
Downloads 250 (84,245)
Citation 5

Abstract:

Cross listings, Firm valuation, Rule of law, Stock exchanges, Tobin’s Q

A Primer on Valuing Simple Risk-Free Bonds

UVA-F-1443
Number of pages: 6 Posted: 21 Oct 2008
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 186 (129,645)

Abstract:

bonds, time value of money

A Primer on Valuing Simple Risk-Free Bonds

Darden Case No. UVA-F-1443
Number of pages: 6 Posted: 21 Oct 2008
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 46 (332,872)

Abstract:

bonds, time value of money

32.

Bank of Tokyo

UVA-F-1018
Number of pages: 20 Posted: 21 Oct 2008
Robert F. Bruner and Michael J. Schill
University of Virginia - Darden School of Business and University of Virginia ­ Darden School of Business
Downloads 186 (125,967)

Abstract:

bank management, bonds, capital markets, commercial banking, diverse protagonist, Asian, option pricing, international case, diversity case, valuation, international

33.

Foreign Currency Denominated Borrowing in the Absence of Operating Incentives

Darden Business School Working Paper No. 07-03
Number of pages: 56 Posted: 23 Aug 2006
Matthew R. McBrady and Michael J. Schill
University of Virginia - Darden School of Business and University of Virginia ­ Darden School of Business
Downloads 186 (117,948)
Citation 8

Abstract:

Foreign debt, Interest rate parity, Timing, Foreign currency

34.

The Post-Acquisition Returns of Stock Deals: Evidence of the Pervasiveness of the Asset Growth Effect

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming, Darden Business School Working Paper No. 2189038
Number of pages: 64 Posted: 13 Dec 2012 Last Revised: 14 Jul 2013
Sandra Mortal and Michael J. Schill
University of Memphis and University of Virginia ­ Darden School of Business
Downloads 175 (114,114)

Abstract:

Takeovers, glamour deals, market efficiency, asset growth

35.

Financial Policies and Hedging

Number of pages: 57 Posted: 11 Jan 2011
George Allayannis and Michael J. Schill
University of Virginia - Darden School of Business and University of Virginia ­ Darden School of Business
Downloads 170 (132,445)
Citation 1

Abstract:

Risk Management, Financial Policies, Hedging

36.

Investment and the Term Structure of Stock Returns

Darden Business School Working Paper No. 2348316
Number of pages: 49 Posted: 04 Nov 2013 Last Revised: 20 May 2015
Sandra Mortal and Michael J. Schill
University of Memphis and University of Virginia ­ Darden School of Business
Downloads 162 (119,034)

Abstract:

Momentum, Return reversal, Asset Growth

37.

Market and Regional Segmentation and Risk Premia in the First Era of Financial Globalization

Darden Business School Working Paper No. 2179088
Number of pages: 59 Posted: 23 Nov 2012 Last Revised: 01 Dec 2016
David Chambers, Sergei Sarkissian and Michael J. Schill
University of Cambridge - Judge Business School, Department of Finance & Accounting, McGill University and University of Virginia ­ Darden School of Business
Downloads 131 (135,132)

Abstract:

: Economic geography; Global risk sharing; Market integration; Stock exchanges

38.

Financial Theory Foundations

Darden Case No. UVA-F-1548
Number of pages: 5 Posted: 14 Jun 2009
Michael J. Schill
University of Virginia ­ Darden School of Business
Downloads 97 (214,002)

Abstract:

finance, introduction

39.

Conditional Market Timing with Benchmark Investors

NBER Working Paper No. w6434
Number of pages: 53 Posted: 01 Aug 2000
affiliation not provided to SSRN, University of Southern California, Northeastern University and University of Virginia ­ Darden School of Business
Downloads 63 (282,415)
Citation 67

Abstract:

40.

Multi-Market Trading and Cross-Asset Integration

Darden Business School Working Paper No. 2660829
Number of pages: 77 Posted: 16 Sep 2015 Last Revised: 04 Dec 2016
Patrick Augustin, Feng Jiao, Sergei Sarkissian and Michael J. Schill
McGill University, Desautels Faculty of Management, McGill University - Desautels Faculty of Management, McGill University and University of Virginia ­ Darden School of Business
Downloads 18 (182,902)

Abstract:

G12, G13, G14, G15

41.

Are There Permanent Valuation Gains to Overseas Listing?

The Review of Financial Studies, 2009, 22(1), 371-412
Posted: 03 Jan 2009 Last Revised: 29 Apr 2012
Sergei Sarkissian and Michael J. Schill
McGill University and University of Virginia ­ Darden School of Business

Abstract:

G14, G15

Other Papers (1)

Total Downloads: 0    Citations: 0
1.

Asset Growth and Stock Returns

Posted: 22 Mar 2005
Michael J. Cooper, Huseyin Gulen and Michael J. Schill
University of Utah - David Eccles School of Business, Purdue University - Krannert School of Management and University of Virginia ­ Darden School of Business

Abstract: