Michael T. Cliff

Analysis Group

Managing Principal

800 17th St, N.W.

Suite 400

Washington, DC 20006

United States

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SCHOLARLY PAPERS

10

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Top 7,434

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11,926

TOTAL CITATIONS
Rank 5,882

SSRN RANKINGS

Top 5,882

in Total Papers Citations

340

Scholarly Papers (10)

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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 Mitchell E. Daniels, Jr School of Business, Purdue University
Downloads 4,711 (4,160)
Citation 24

Abstract:

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anomalies, non-trading, market closure, weekend effect

2.

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 2,133 (14,837)
Citation 127

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Behavioral finance, market efficiency

3.

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 1,845 (18,700)
Citation 137

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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 962 (48,777)
Citation 8

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IPOs, analyst coverage, underwriters

5.

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 - College of Business
Downloads 827 (60,016)
Citation 33

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

6.

Do Independent Analysts Provide Superior Stock Recommendations?

Number of pages: 48 Posted: 08 Mar 2005
Michael T. Cliff
Analysis Group
Downloads 396 (149,928)
Citation 6

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Stock recommendations, analysts, banking conflicts

7.

Do Affiliated Analysts Mean What They Say?

Financial Management, Forthcoming
Number of pages: 39 Posted: 17 Dec 2006
Michael T. Cliff
Analysis Group
Downloads 318 (190,309)
Citation 1

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stock recommendations, conflict of interest, independent analysts

8.

Growth Options and Dynamic Risk: An Empirical Evaluation

Downloads 277 (220,140)

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 158 (371,336)

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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 119 (466,733)

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real options, growth, dynamic beta

9.

Assessing Asset Pricing Model Misspecification with a Returns Decomposition

Number of pages: 48 Posted: 06 Dec 2001
Stéphane Chrétien and Michael T. Cliff
Université Laval and Analysis Group
Downloads 240 (253,920)
Citation 4

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asset pricing, idiosyncratic risk, model evaluation

10.

Asset Pricing Tests Under Price-Dividend Ratio Restrictions

Number of pages: 56 Posted: 19 Feb 2001
Michael T. Cliff
Analysis Group
Downloads 217 (279,415)

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