Sunil Wahal

Arizona State University (ASU) - Finance Department

W. P. Carey School of Business

PO Box 873906

Tempe, AZ 85287-3906

United States

  • Arizona State University (ASU) - Finance Department

SCHOLARLY PAPERS

31

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SSRN CITATIONS
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Top 3,742

in Total Papers Citations

385

CROSSREF CITATIONS

48

Ideas:
“  My most recent research includes (a) the incorporation of Value and Profitability in investment strategies, (b) how large institutions (Pensions, Endowments, Foundations and SWFs) choose investment managers in public equity and fixed income, (c) the benefit of having flows from different clients in investment products and the costs of mutual funds.  ”

  • Arizona State University (ASU) - Finance Department

Scholarly Papers (31)

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1.

Choosing Investment Managers

Swiss Finance Institute Research Paper No. 20-63
Number of pages: 67 Posted: 16 Sep 2020 Last Revised: 22 Feb 2022
Amit Goyal, Sunil Wahal and M. Deniz Yavuz
University of Lausanne, Arizona State University (ASU) - Finance Department and Purdue University - Krannert School of Management
Downloads 1,972 (13,963)
Citation 2

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2.

Style Investing, Comovement and Return Predictability

Number of pages: 38 Posted: 28 Aug 2008 Last Revised: 10 Apr 2012
Sunil Wahal and M. Deniz Yavuz
Arizona State University (ASU) - Finance Department and Purdue University - Krannert School of Management
Downloads 1,308 (26,084)
Citation 4

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comovement, momentum, style investment, behavioral finance, return predictability , reversals

3.

On the Conjoint Nature of Value and Profitability

Number of pages: 14 Posted: 16 Jul 2020
Sunil Wahal and Eduardo Repetto
Arizona State University (ASU) - Finance Department and affiliation not provided to SSRN
Downloads 1,189 (30,041)
Citation 1

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Value, Profitability, Asset Pricing, Factor Models

4.

Is Momentum an Echo?

Number of pages: 51 Posted: 01 Oct 2011 Last Revised: 27 Apr 2013
Amit Goyal and Sunil Wahal
University of Lausanne and Arizona State University (ASU) - Finance Department
Downloads 1,176 (30,526)
Citation 18

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Momentum, Market Efficiency, Return Predictability

5.

The Anatomy of Trading Algorithms

Number of pages: 50 Posted: 18 Dec 2019 Last Revised: 21 Jan 2021
Tyler Beason and Sunil Wahal
Virginia Tech and Arizona State University (ASU) - Finance Department
Downloads 1,142 (31,901)
Citation 3

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Institutional Trading, Trading Algorithms, Market Microstructure, Transaction Costs

6.

Performance Persistence in Institutional Investment Management

EFA 2006 Zurich Meetings Paper
Number of pages: 46 Posted: 14 Jun 2006
Jeffrey A. Busse, Amit Goyal and Sunil Wahal
Emory University - Department of Finance, University of Lausanne and Arizona State University (ASU) - Finance Department
Downloads 1,086 (34,154)
Citation 95

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7.

Competition Among Mutual Funds

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 45 Posted: 22 Mar 2008 Last Revised: 25 Aug 2011
Sunil Wahal and Albert Y. Wang
Arizona State University (ASU) - Finance Department and Auburn University - Department of Finance
Downloads 1,072 (34,785)
Citation 26

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Mutual funds, Incumbents, Competition

8.

The Joint Distribution of Value and Profitability: International Evidence

Number of pages: 17 Posted: 05 Jan 2021
Sunil Wahal and Eduardo Repetto
Arizona State University (ASU) - Finance Department and affiliation not provided to SSRN
Downloads 1,027 (37,016)
Citation 1

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Value, Profitability, Asset Pricing, Factor Models

9.

Do Institutional Investors Exacerbate Managerial Myopia?

Number of pages: 35 Posted: 26 Jan 1998
John J. McConnell and Sunil Wahal
Purdue University and Arizona State University (ASU) - Finance Department
Downloads 909 (43,874)
Citation 19

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10.

Grandstanding, Certification and the Underpricing of Venture Backed Ipos

Number of pages: 36 Posted: 24 Jul 2002
Peggy M. Lee and Sunil Wahal
Arizona State University (ASU) - Management Department and Arizona State University (ASU) - Finance Department
Downloads 842 (48,797)
Citation 93

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11.

The Profitability and Investment Premium: Pre-1963 Evidence

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 41 Posted: 31 Dec 2016 Last Revised: 25 Mar 2018
Sunil Wahal
Arizona State University (ASU) - Finance Department
Downloads 778 (54,321)
Citation 15

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Profitability, Investment, Value Premium, Factor Models, Asset Pricing

12.

High Frequency Quoting, Trading, and the Efficiency of Prices

Journal of Financial Economics (JFE), Forthcoming, UNC Kenan-Flagler Research Paper No. 2357122
Number of pages: 49 Posted: 19 Nov 2013 Last Revised: 15 Nov 2014
Jennifer S. Conrad, Jennifer S. Conrad, Sunil Wahal and Jin Xiang
University of North Carolina at Chapel HillUniversity of North Carolina Kenan-Flagler Business School, Arizona State University (ASU) - Finance Department and Integrated Financial Engineering Inc.
Downloads 719 (60,337)
Citation 40

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High Frequency Trading, Market Microstructure

13.

Momentum Trading by Institutions

Downloads 719 (60,337)

Momentum Trading by Institutions

Number of pages: 37 Posted: 27 May 1998
S.G. Badrinath and Sunil Wahal
San Diego State University and Arizona State University (ASU) - Finance Department
Downloads 719 (59,490)
Citation 20

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Momentum Trading by Institutions

Posted: 15 Jul 2003
S.G. Badrinath and Sunil Wahal
San Diego State University and Arizona State University (ASU) - Finance Department

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14.

Picking Partners: Manager Selection in Private Equity

Swiss Finance Institute Research Paper No. 21-86
Number of pages: 60 Posted: 27 Aug 2021 Last Revised: 13 Jan 2023
Amit Goyal, Sunil Wahal and M. Deniz Yavuz
University of Lausanne, Arizona State University (ASU) - Finance Department and Purdue University - Krannert School of Management
Downloads 636 (70,847)
Citation 2

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private equity, manager selection

15.

The Term Structure of Liquidity Provision

Number of pages: 45 Posted: 11 Sep 2016 Last Revised: 28 Feb 2019
Jennifer S. Conrad, Jennifer S. Conrad and Sunil Wahal
University of North Carolina at Chapel HillUniversity of North Carolina Kenan-Flagler Business School and Arizona State University (ASU) - Finance Department
Downloads 616 (73,586)
Citation 24

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High frequency trading, market microstructure, market efficiency

16.

Institutional Trading and Soft Dollars

Number of pages: 32 Posted: 15 Jan 1998
Jennifer S. Conrad, Jennifer S. Conrad, Kevin M. Johnson and Sunil Wahal
University of North Carolina at Chapel HillUniversity of North Carolina Kenan-Flagler Business School, Aronson+Johnson+Ortiz and Arizona State University (ASU) - Finance Department
Downloads 430 (113,995)
Citation 25

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17.

Agency Conflicts in Closed-End Funds: The Case of Rights Offerings

Downloads 394 (126,520)

Agency Conflicts in Closed-End Funds: The Case of Rights Offerings

Number of pages: 47 Posted: 25 Jan 2002
Ajay Khorana, Sunil Wahal and Marc Zenner
Georgia Institute of Technology - Finance Area, Arizona State University (ASU) - Finance Department and Citigroup, Inc. - Investment Banking Division
Downloads 394 (125,414)
Citation 3

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Agency Conflicts in Closed-End Funds: The Case of Rights Offerings

Posted: 12 Feb 2002
Ajay Khorana, Sunil Wahal and Marc Zenner
Georgia Institute of Technology - Finance Area, Arizona State University (ASU) - Finance Department and Citigroup, Inc. - Investment Banking Division

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18.

Forbearance in Institutional Investment Management: Evidence from Survey Data

Goyal, Amit and Tol, Ramon and Wahal, Sunil, Forbearance in Institutional Investment Management: Evidence from Survey Data (27 March 2023). Financial Analysts Journal, 2023, 79(2): 7–20. DOI: 10.1080/0015198X.2023.2176163. Available at SSRN: https://ssrn.com/abstract=4093140 or http://dx.doi.org/10.
Number of pages: 22 Posted: 10 May 2022 Last Revised: 04 May 2023
Amit Goyal, Ramon Tol and Sunil Wahal
University of Lausanne, Blue Sky Group and Arizona State University (ASU) - Finance Department
Downloads 269 (190,406)

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Institutional Investors, Investment

19.

Flow Diversification

Number of pages: 51 Posted: 03 Feb 2022 Last Revised: 25 Jul 2022
Sunil Wahal and Albert Y. Wang
Arizona State University (ASU) - Finance Department and Auburn University - Department of Finance
Downloads 218 (232,875)

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Mutual Fund, Diversification, Clienteles, Correlation, Liquidity, ETF

20.

Is Idiosyncratic Risk Conditionally Priced?

Downloads 143 (335,890)
Citation 1

Is Idiosyncratic Risk Conditionally Priced?

Number of pages: 37 Posted: 10 Feb 2016 Last Revised: 24 Apr 2019
Rajnish Mehra, Sunil Wahal and Daruo Xie
Arizona State University (ASU) - W.P Carey School of Business, Department of Economics, Arizona State University (ASU) - Finance Department and Australian National University (ANU)
Downloads 113 (403,036)

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Incomplete markets, Diversification, Idiosyncratic risk

Is Idiosyncratic Risk Conditionally Priced?

NBER Working Paper No. w22016
Number of pages: 37 Posted: 01 Mar 2016 Last Revised: 27 Feb 2022
Rajnish Mehra, Sunil Wahal and Daruo Xie
Arizona State University (ASU) - W.P Carey School of Business, Department of Economics, Arizona State University (ASU) - Finance Department and Australian National University (ANU)
Downloads 30 (792,228)
Citation 1

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21.

Do Properly Anticipated Prices Fluctuate Randomly? Evidence from VIX Futures Markets

Downloads 38 (711,797)
Citation 1

Do Properly Anticipated Prices Fluctuate Randomly? Evidence from VIX Futures Markets

NBER Working Paper No. w24575
Number of pages: 40 Posted: 07 May 2018 Last Revised: 24 Feb 2023
George O. Aragon, Rajnish Mehra and Sunil Wahal
Arizona State University (ASU) - Finance Department, Arizona State University (ASU) - W.P Carey School of Business, Department of Economics and Arizona State University (ASU) - Finance Department
Downloads 38 (730,320)
Citation 1

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Do Properly Anticipated Prices Fluctuate Randomly? Evidence from VIX Futures Markets

Posted: 08 May 2018 Last Revised: 25 Mar 2020
George O. Aragon, Rajnish Mehra and Sunil Wahal
Arizona State University (ASU) - Finance Department, Arizona State University (ASU) - W.P Carey School of Business, Department of Economics and Arizona State University (ASU) - Finance Department

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VIX futures, volatility risk premium, mean-reversion, momentum

22.

R&D, Innovation, and the Stock Market

Number of pages: 61
Amit Goyal and Sunil Wahal
University of Lausanne and Arizona State University (ASU) - Finance Department
Downloads 3

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Research & Development, Patents, Innovation, Intangibles, Profitability, Asset Pricing, Expected Returns, Accruals

23.

The Selection and Termination of Investment Managers By Plan Sponsors

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The Selection and Termination of Investment Managers By Plan Sponsors

Journal of Finance, Forthcoming
Posted: 18 Jun 2007
Amit Goyal and Sunil Wahal
University of Lausanne and Arizona State University (ASU) - Finance Department

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Pensions, Asset Management, Plan Sponsors

The Selection and Termination of Investment Managers by Plan Sponsors

Posted: 02 Mar 2005
Amit Goyal and Sunil Wahal
University of Lausanne and Arizona State University (ASU) - Finance Department

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Pensions, Asset Management, Plan Sponsors

24.

Institutional Trading Costs and Alternative Trading Systems

Posted: 21 Jul 2002
Jennifer S. Conrad, Jennifer S. Conrad, Sunil Wahal and Kevin M. Johnson
University of North Carolina at Chapel HillUniversity of North Carolina Kenan-Flagler Business School, Arizona State University (ASU) - Finance Department and Aronson+Johnson+Ortiz

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25.

The Trading of Institutional Investors: Theory and Evidence

Journal of Applied Finance, Vol. 12, No. 1, Spring/Summer
Posted: 06 Jun 2002
Jennifer S. Conrad, Jennifer S. Conrad, Kevin M. Johnson and Sunil Wahal
University of North Carolina at Chapel HillUniversity of North Carolina Kenan-Flagler Business School, Aronson+Johnson+Ortiz and Arizona State University (ASU) - Finance Department

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26.

Alternative Trading Systems

Posted: 16 Jul 2001
Jennifer S. Conrad, Jennifer S. Conrad, Kevin M. Johnson and Sunil Wahal
University of North Carolina at Chapel HillUniversity of North Carolina Kenan-Flagler Business School, Aronson+Johnson+Ortiz and Arizona State University (ASU) - Finance Department

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27.

Who Opts Out of State Antitakeover Protection? The Case of Pennsylvania's Sb 1310

Posted: 19 Sep 1999
Sunil Wahal, Kenneth W. Wiles and Marc Zenner
Arizona State University (ASU) - Finance Department, affiliation not provided to SSRN and Citigroup, Inc. - Investment Banking Division

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28.

Public Pension Fund Activism and Firm Performance

Posted: 13 Sep 1999
Sunil Wahal
Arizona State University (ASU) - Finance Department

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29.

Pension Fund Activism and Firm Performance

JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS, March 1996
Posted: 27 Jun 1998
Sunil Wahal
Arizona State University (ASU) - Finance Department

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30.

Why Do Firms Issue Equity? Right Issues in the Closed-End Funds Industry

Posted: 22 Apr 1998
Ajay Khorana, Sunil Wahal and Marc Zenner
Georgia Institute of Technology - Finance Area, Arizona State University (ASU) - Finance Department and Citigroup, Inc. - Investment Banking Division

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31.

Entry, Exit, Market Makers and the Bid-Ask Spread

Downloads 0 (1,031,480)

Entry, Exit, Market Makers and the Bid-Ask Spread

REVIEW OF FINANCIAL STUDIES, Vol. 10 No. 3
Posted: 02 Jul 1997
Sunil Wahal
Arizona State University (ASU) - Finance Department

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Entry, Exit, Market Makers and the Bid-Ask Spread

Posted: 26 Jan 1995
Sunil Wahal
Arizona State University (ASU) - Finance Department

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Other Papers (7)

Total Downloads: 2,177
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1.

Exchange Traded Funds: Performance and Competition

Number of pages: 28 Posted: 19 Nov 2008
Marko Svetina and Sunil Wahal
University of San Diego and Arizona State University (ASU) - Finance Department
Downloads 1,929

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Exchange traded funds, index mutual funds, financial innovation

2.

Investing in a Global World

AFA 2012 Chicago Meetings Paper
Number of pages: 48 Posted: 10 Mar 2011 Last Revised: 22 Jun 2011
Jeffrey A. Busse, Amit Goyal and Sunil Wahal
Emory University - Department of Finance, University of Lausanne and Arizona State University (ASU) - Finance Department
Downloads 176 (139,256)

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International, Portfolio Management, Performance

3.

An Analysis of Exchange Traded Funds: Performance and Competition

Number of pages: 33 Posted: 20 Mar 2007
Marko Svetina and Sunil Wahal
University of San Diego and Arizona State University (ASU) - Finance Department
Downloads 25

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Exchange traded funds, Premium, Performance, Competition

4.

The Demand for Diversification in Incomplete Markets

Number of pages: 54 Posted: 15 Aug 2016
Rajnish Mehra, Sunil Wahal and Daruo Xie
Arizona State University (ASU) - W.P Carey School of Business, Department of Economics, Arizona State University (ASU) - Finance Department and Australian National University (ANU)
Downloads 19

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diversification, cross-section of returns

5.

Comovement and Return Predictability

Number of pages: 15 Posted: 22 Aug 2007
Sunil Wahal and M. Deniz Yavuz
Arizona State University (ASU) - Finance Department and Purdue University - Krannert School of Management
Downloads 15

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6.

Style Investing, Comovement and Return Predictability

Number of pages: 37 Posted: 17 Mar 2008
Sunil Wahal and M. Deniz Yavuz
Arizona State University (ASU) - Finance Department and Purdue University - Krannert School of Management
Downloads 13

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style investing, comovement, momentum

7.

Electronic Markets and Trading Algorithms

Journal of Trading, Forthcoming
Posted: 23 Aug 2011 Last Revised: 08 Mar 2012
Sunil Wahal
Arizona State University (ASU) - Finance Department

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Trading Algorithms, High Frequency Trading, Dark Pools