H. Nejat Seyhun

University of Michigan, Stephen M. Ross School of Business

Professor of Finance

701 Tappan Street

Ann Arbor, MI MI 48109

United States

  • University of Michigan, Stephen M. Ross School of Business

    • Email
    • Tel: 734-763-5463
SCHOLARLY PAPERS

32

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146

Scholarly Papers (32)

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1.

Insider Trading by Other Means

Harvard Business Law Review
Number of pages: 66 Posted: 24 Jul 2024
Sureyya Burcu Avci, Cindy A. Schipani, H. Nejat Seyhun and Andrew Verstein
Sabanci University - School of Management, University of Michigan, Stephen M. Ross School of Business, University of Michigan, Stephen M. Ross School of Business and University of California, Los Angeles (UCLA) - School of Law
Downloads 2,295 (12,892)

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insider trading, securities, corporate governance

2.

Do Short Sellers Trade on Private Information or False Information?

Number of pages: 51 Posted: 25 Mar 2008 Last Revised: 15 May 2011
Amiyatosh Purnanandam and H. Nejat Seyhun
University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 1,732 (20,023)
Citation 4

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Short sell, insider trading

3.

Insider Giving

71 Duke Law Journal 619 (2021), UCLA School of Law, Law-Econ Research Paper No. 21-02
Number of pages: 82 Posted: 02 Mar 2021 Last Revised: 06 Dec 2021
Sureyya Burcu Avci, Cindy A. Schipani, H. Nejat Seyhun and Andrew Verstein
Sabanci University - School of Management, University of Michigan, Stephen M. Ross School of Business, University of Michigan, Stephen M. Ross School of Business and University of California, Los Angeles (UCLA) - School of Law
Downloads 1,324 (30,035)
Citation 3

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Insider Trading, insider giving, SEC regulations, shareholder stock gifts, manipulative giving, inflated stock prices, fraudulent transaction recordings, information leakage

4.

Effect of Sarbanes-Oxley Act on the Influencing of Executive Compensation

Number of pages: 45 Posted: 17 Aug 2006
M. P. Narayanan and H. Nejat Seyhun
University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 1,300 (30,840)
Citation 29

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Sarbanes-Oxley Act, Executive Compensation, Corporate Governance, Backdating, Executive Stock Options

5.

Do Insiders Exploit Anomalies?

Marshall School of Business Working Paper No. 17-1
Number of pages: 60 Posted: 03 Jul 2015 Last Revised: 21 Nov 2018
Deniz Anginer, Gerard Hoberg and H. Nejat Seyhun
Simon Fraser University (SFU), University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of Michigan, Stephen M. Ross School of Business
Downloads 1,194 (34,755)
Citation 2

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Anomalies, behavioral finance, asset pricing, factor models, market efficiency, insider trading

6.

The Economic Impact of Backdating of Executive Stock Options

Michigan Law Review, Forthcoming, Stephen M. Ross School of Business at the University of Michigan Research Paper
Number of pages: 63 Posted: 21 Sep 2006
M. P. Narayanan, Cindy A. Schipani and H. Nejat Seyhun
University of Michigan, Stephen M. Ross School of Business, University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 1,065 (40,996)

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Executive compensation, Stock options, Corporate governance, Backdating

7.

Do Managers Influence Their Pay? Evidence from Stock Price Reversals Around Executive Option Grants

Ross School of Business Paper No. 927
Number of pages: 55 Posted: 17 Jan 2005
M. P. Narayanan and H. Nejat Seyhun
University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 839 (57,165)
Citation 14

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Stock options, executive compensation, corporate governance, agency

8.

Global Economic Impact of COVID-19: Evidence from Insider Trades

Number of pages: 41 Posted: 10 Jun 2020
Deniz Anginer, Anil Donmez, H. Nejat Seyhun and Ray Zhang
Simon Fraser University (SFU), Simon Fraser University (SFU), Faculty of Arts & Social Sciences, Department of Economics, Students, University of Michigan, Stephen M. Ross School of Business and Simon Fraser University - Beedie School of Business
Downloads 778 (63,276)
Citation 6

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Insider Trading, COVID-19, Coronavirus, Pandemic

9.

Insider Trading and Effectiveness of Chinese Walls in Securities Firms

Journal of Law, Economics and Policy, Forthcoming
Number of pages: 46 Posted: 29 Sep 2007
H. Nejat Seyhun
University of Michigan, Stephen M. Ross School of Business
Downloads 715 (70,625)
Citation 9

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Market Microstructure, Insider Trading, Investment Banking, Brokerage, Government Policy and Regulation, Banks and Other Depository Institutions

10.

Do Underwriters Collaborate with Venture Capitalists in Ipos? Implications and Evidence

AFA 2006 Boston Meetings Paper
Number of pages: 52 Posted: 24 Mar 2005 Last Revised: 07 Apr 2009
Gerard Hoberg and H. Nejat Seyhun
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of Michigan, Stephen M. Ross School of Business
Downloads 635 (82,082)
Citation 9

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IPOs, initial public offerings, intial returns, collaboration, venture capital, underwriter, strategic alliances, quid pro quos

11.

The Dating Game: Do Managers Designate Option Grant Dates to Increase Their Compensation?

Downloads 626 (83,554)
Citation 30

The Dating Game: Do Managers Designate Option Grant Dates to Increase Their Compensation?

Number of pages: 51 Posted: 19 Apr 2006
M. P. Narayanan and H. Nejat Seyhun
University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 626 (82,482)
Citation 30

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Executive stock options, executive compensation, corporate governance, back-dating

The Dating Game: Do Managers Designate Option Grant Dates to Increase Their Compensation?

The Review of Financial Studies, Vol. 21, No. 5, pp. 1907-1945, 2008
Posted: 19 Sep 2008
M. P. Narayanan and H. Nejat Seyhun
University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business

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G14, G30, G34, G38

12.

Are Women Executives Disadvantaged?

Ross School of Business Paper No. 1128
Number of pages: 47 Posted: 01 Oct 2008 Last Revised: 23 Jul 2009
Sreedhar T. Bharath, M. P. Narayanan and H. Nejat Seyhun
Arizona State University (ASU) - Finance Department, University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 572 (93,625)
Citation 10

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insider trading, gender, women, profits, risk aversion, overconfidence, information

13.

Fraud on the Market: Analysis of the Efficiency of the Corporate Bond Market

Columbia Business Law Review, 2011, Ross School of Business Paper No. 1158
Number of pages: 49 Posted: 03 Aug 2011 Last Revised: 11 Aug 2011
Michael L. Hartzmark, Cindy A. Schipani and H. Nejat Seyhun
Hartzmark Economics Litigation Practice, University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 520 (105,686)
Citation 2

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fraud on the market, corporate bond market, class action, market efficiency, corporate governance

14.

Expensive Anomalies

Journal of Empirical Finance, Forthcoming
Number of pages: 65 Posted: 09 Mar 2020 Last Revised: 09 Nov 2023
Deniz Anginer, Sugata Ray, H. Nejat Seyhun and Luqi Xu
Simon Fraser University (SFU), University of Alabama - Department of Economics, Finance and Legal Studies, University of Michigan, Stephen M. Ross School of Business and College of Charleston
Downloads 491 (114,693)

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Anomaly, Momentum, value effect

15.

Why Don’t General Counsels Stop Corporate Crime?

Ross School of Business Paper No. 1326
Number of pages: 46 Posted: 08 Jul 2016 Last Revised: 17 Aug 2016
Sureyya Burcu Avci and H. Nejat Seyhun
Sabanci University - School of Management and University of Michigan, Stephen M. Ross School of Business
Downloads 488 (113,831)
Citation 3

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General Counsels, Corporate Governance, Corporate Fraud, Gatekeepers

16.

Has Insider Trading Become More Rampant in the United States? Evidence from Takeovers

Insider Trading Research Handbook, S. Bainbridge, ed., Elgar, Forthcoming, U of Michigan Law & Econ Research Paper No. 12-012
Number of pages: 47 Posted: 23 Jul 2012 Last Revised: 02 Aug 2012
Laura Nyantung Beny and H. Nejat Seyhun
University of Michigan Law School and University of Michigan, Stephen M. Ross School of Business
Downloads 486 (114,405)

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illegal insider trading, tender offers, investments, stock price behavior, takeovers

17.

Should the CEO Pay Ratio be Regulated?

Anginer, Deniz, Liu, Jinjing, Schipani, Cindy A. and Seyhun, H. Nejat, Should the CEO Pay Ratio Be Regulated? 45 Journal of Corporation Law (Forthcoming)
Number of pages: 45 Posted: 02 Oct 2019 Last Revised: 20 Mar 2020
Deniz Anginer, Jinjing Liu, Cindy A. Schipani and H. Nejat Seyhun
Simon Fraser University (SFU), Moravian University, University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 398 (144,564)
Citation 1

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Pay ratio; Pay slice; CEO power; Cost of capital

18.

Do Independent Directors Curb Financial Fraud? The Evidence and Proposals for Further Reform

93 Indiana Law Journal 757 (2018), Forthcoming, Ross School of Business Paper No. 1352
Number of pages: 50 Posted: 28 Mar 2017 Last Revised: 12 Apr 2019
Sureyya Burcu Avci, Cindy A. Schipani and H. Nejat Seyhun
Sabanci University - School of Management, University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 396 (145,396)

Abstract:

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Corporations, Securities Law, Directors, Corporate Governance, Sarbanes Oxley, Corporate Scandals, Corporate Law, Shareholders

19.

Ending Executive Manipulations of Incentive Compensation

Journal of Corporation Law, Forthcoming, Ross School of Business Paper No. 1305
Number of pages: 51 Posted: 02 Mar 2016
Sureyya Burcu Avci, Cindy A. Schipani and H. Nejat Seyhun
Sabanci University - School of Management, University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 224 (262,797)

Abstract:

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incentive compensation, stock options, backdating, securities regulation, corporate governance

20.

Do SEC's 10b5-1 Safe Harbor Rules Need to Be Rewritten?

Columbia Business Law Review, 133-183, 2016
Number of pages: 51 Posted: 14 Oct 2015 Last Revised: 17 Jun 2016
Taylan Mavruk and H. Nejat Seyhun
University of Gothenburg and University of Michigan, Stephen M. Ross School of Business
Downloads 208 (281,589)

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Insider trading, Safe Harbor, Securities and Exchange Commission Rule 10b5-1, Information Access

21.

How Should Retirement Plans Be Organized?

New York University Journal of Law and Business, Vol. 13, No. 2, 2017, Forthcoming, Ross School of Business Paper No. 1332
Number of pages: 58 Posted: 04 Oct 2016 Last Revised: 08 Nov 2016
Sureyya Burcu Avci, M. P. Narayanan and H. Nejat Seyhun
Sabanci University - School of Management, University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 180 (320,992)

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Defined contribution plans, pension funds, investment advice, transparency, conflict of interest

22.

Defining 'Material, Nonpublic': What Should Constitute Illegal Insider Information?

Fordham Journal of Corporate and Financial Law, Forthcoming, Ross School of Business Paper No. 1287
Number of pages: 59 Posted: 02 Oct 2015
Cindy A. Schipani and H. Nejat Seyhun
University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 165 (346,440)
Citation 1

Abstract:

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insider trading, corporate and securities law, corporate governance

23.

Should Size Matter When Regulating Firms? Implications from Backdating of Executive Options

New York University Journal of Legislation and Public Policy, Forthcoming, Ross School of Business Paper
Number of pages: 49 Posted: 10 Apr 2011 Last Revised: 04 Aug 2011
Deniz Anginer, M. P. Narayanan, Cindy A. Schipani and H. Nejat Seyhun
Simon Fraser University (SFU), University of Michigan, Stephen M. Ross School of Business, University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 163 (350,086)

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Exemptions for small firms, Options backdating

24.

Degree of Integration between Brent Oil Spot and Futures Markets: Intraday Evidence

Number of pages: 47 Posted: 15 Nov 2014 Last Revised: 19 Aug 2017
A. Can Inci and H. Nejat Seyhun
Bryant University and University of Michigan, Stephen M. Ross School of Business
Downloads 150 (375,099)

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Natural Resources, Futures Markets, Brent, Integration of Markets, Co-integration, Granger Causality

25.

Are There Racial Differences in Senior Executives’ Access to Information?

Number of pages: 64 Posted: 27 Apr 2022 Last Revised: 10 Nov 2023
Deniz Anginer, Anil Donmez, H. Nejat Seyhun and Ray Zhang
Simon Fraser University (SFU), Simon Fraser University (SFU), Faculty of Arts & Social Sciences, Department of Economics, Students, University of Michigan, Stephen M. Ross School of Business and Simon Fraser University - Beedie School of Business
Downloads 106 (489,082)

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African American, Insider trading, Information Access, Race, Taste-based Discrimination

26.

The Elusive Monitoring Function of Independent Directors

Forthcoming, 21 University of Pennsylvania Journal of Business Law (2019), Ross School of Business Paper No. 1384
Number of pages: 49 Posted: 21 Aug 2018
Sureyya Burcu Avci, Cindy A. Schipani and H. Nejat Seyhun
Sabanci University - School of Management, University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 106 (489,082)

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Independent Directors, Corporate Governance, Corporate Fraud, Gatekeepers

27.

Manipulative Games of Gifts by Corporate Executives

University of Pennsylvania Journal of Business Law, Forthcoming, Ross School of Business Paper No. 1304
Number of pages: 46 Posted: 02 Mar 2016
Sureyya Burcu Avci, Cindy A. Schipani and H. Nejat Seyhun
Sabanci University - School of Management, University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 102 (502,622)
Citation 6

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securities law, tax law, charitable donations, disclosure requirements, corporate law, empirical evidence, public policy

28.

Why Do Banks Fail Together? Evidence From Executive Compensation

Volume XXIX, Fordham Journal of Corporate and Financial Law (Forthcoming)
Number of pages: 57 Posted: 20 Dec 2023 Last Revised: 23 Apr 2024
Deniz Anginer, Jinjing Liu, Cindy A. Schipani and H. Nejat Seyhun
Simon Fraser University (SFU), Moravian University, University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 44 (779,151)

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Bank moral hazard; Systemic risk; Executive compensation; Relative performance evaluation

29.

Eliminating Conflicts of Interests in Banks: The Significance of the Volcker Rule

Yale Journal on Regulation, Vol. 35, No. 2, Forthcoming, Ross School of Business Paper No. 1371
Posted: 13 Aug 2017 Last Revised: 15 Sep 2017
Sureyya Burcu Avci, Cindy A. Schipani and H. Nejat Seyhun
Sabanci University - School of Management, University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business

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Corporate Finance, Banking Regulation, Corporate Law, Securities Regulation, Volcker Rule, Dodd Frank Act, Insider Trading

30.

Gender Differences in Executives’ Access to Information

Journal of Financial and Quantitative Analysis, 52.3, 991-1016, June 2017
Posted: 05 Oct 2016 Last Revised: 19 Aug 2017
A. Can Inci, M. P. Narayanan and H. Nejat Seyhun
Bryant University, University of Michigan, Stephen M. Ross School of Business and University of Michigan, Stephen M. Ross School of Business

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Gender, Overconfidence, Insider Trading, Information Access

31.

How Do Quotes and Prices Evolve Around Isolated Informed Trades?

Journal of Economics and Finance, Vol. 36, No. 2, pp. 499-519, 2012
Posted: 29 Nov 2012
A. Can Inci and H. Nejat Seyhun
Bryant University and University of Michigan, Stephen M. Ross School of Business

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informed trading, market microstructure, intraday order flows

32.

Intraday Behavior of Stock Prices and Trades Around Insider Trading

Financial Management, Vol. 39, pp. 323-363, 2010
Posted: 24 Apr 2010
A. Can Inci, Biao Lu and H. Nejat Seyhun
Bryant University, University of Michigan at Ann Arbor and University of Michigan, Stephen M. Ross School of Business

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Informed Trading, Information Incorporation, Market Microstructure, Order Imbalance, Bid-Ask Quotes