Michael T. Cliff

Analysis Group

Vice President

800 17th St, N.W.

Suite 400

Washington, DC 20006

United States

SCHOLARLY PAPERS

10

DOWNLOADS
Rank 4,474

SSRN RANKINGS

Top 4,474

in Total Papers Downloads

7,604

CITATIONS
Rank 2,488

SSRN RANKINGS

Top 2,488

in Total Papers Citations

225

Scholarly Papers (10)

1.

Return Differences between Trading and Non-Trading Hours: Like Night and Day

Number of pages: 48 Posted: 27 Mar 2008 Last Revised: 29 Sep 2008
Michael J. Cooper, Michael T. Cliff and Huseyin Gulen
University of Utah - David Eccles School of Business, Analysis Group and Purdue University - Krannert School of Management
Downloads 1,763 (4,697)
Citation 9

Abstract:

anomalies, non-trading, market closure, weekend effect

2.

Investor Sentiment and Asset Valuation

Number of pages: 39 Posted: 30 Nov 2001
Michael T. Cliff and Gregory W. Brown
Analysis Group and University of North Carolina (UNC) at Chapel Hill - Finance Area
Downloads 1,396 (8,906)
Citation 60

Abstract:

3.

Investor Sentiment And The Near-Term Stock Market

Number of pages: 33 Posted: 13 Sep 2001
Michael T. Cliff and Gregory W. Brown
Analysis Group and University of North Carolina (UNC) at Chapel Hill - Finance Area
Downloads 1,297 (9,584)
Citation 61

Abstract:

Behavioral finance, market efficiency

4.

Do IPO Firms Purchase Analyst Coverage With Underpricing?

Number of pages: 42 Posted: 01 Apr 2003
Michael T. Cliff and David J. Denis
Analysis Group and University of Pittsburgh
Downloads 783 (24,090)
Citation 77

Abstract:

IPOs, analyst coverage, underwriters

5.

Do Independent Analysts Provide Superior Stock Recommendations?

Number of pages: 48 Posted: 08 Mar 2005
Michael T. Cliff
Analysis Group
Downloads 317 (75,269)
Citation 5

Abstract:

Stock recommendations, analysts, banking conflicts

6.

Do Affiliated Analysts Mean What They Say?

Financial Management, Forthcoming
Number of pages: 39 Posted: 17 Dec 2006
Michael T. Cliff
Analysis Group
Downloads 249 (95,281)
Citation 10

Abstract:

stock recommendations, conflict of interest, independent analysts

7.

Hedge Funds: The Good, the Bad, and the Lucky

Journal of Financial and Quantitative Analysis (JFQA), Vol. 52, No. 3, June 2017, pp. 1081-1109
Number of pages: 55 Posted: 24 Aug 2011 Last Revised: 18 Sep 2017
Yong Chen, Michael T. Cliff and Haibei Zhao
Texas A&M University - Department of Finance, Analysis Group and Lehigh University
Downloads 238 (56,095)

Abstract:

Hedge funds, mixture Normal distributions, performance evaluation, EM algorithm, performance persistence

8.

Assessing Asset Pricing Model Misspecification with a Returns Decomposition

Twelfth Annual Utah Winter Finance Conference
Number of pages: 48 Posted: 06 Dec 2001
Stéphane Chrétien and Michael T. Cliff
Université Laval and Analysis Group
Downloads 193 (130,437)
Citation 1

Abstract:

asset pricing, idiosyncratic risk, model evaluation

Growth Options and Dynamic Risk: An Empirical Evaluation

Number of pages: 47 Posted: 17 Mar 2009 Last Revised: 30 Jul 2014
Gregory W. Brown and Michael T. Cliff
University of North Carolina (UNC) at Chapel Hill - Finance Area and Analysis Group
Downloads 108 (213,835)

Abstract:

real options, growth, dynamic betas

Growth Options and Dynamic Risk: An Empirical Evaluation

Number of pages: 45 Posted: 03 Sep 2008
Gregory W. Brown and Michael T. Cliff
University of North Carolina (UNC) at Chapel Hill - Finance Area and Analysis Group
Downloads 84 (253,715)

Abstract:

real options, growth, dynamic beta

10.

Asset Pricing Tests Under Price-Dividend Ratio Restrictions

Number of pages: 56 Posted: 19 Feb 2001
Michael T. Cliff
Analysis Group
Downloads 176 (141,906)

Abstract: