Gerard Hoberg

University of Southern California - Marshall School of Business

Associate Professor

Marshall School of Business

Los Angeles, CA 90089

United States

http://www-bcf.usc.edu/~hoberg/

SCHOLARLY PAPERS

29

DOWNLOADS
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21,016

CITATIONS
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Top 1,996

in Total Papers Citations

280

Scholarly Papers (29)

1.

The Information Content of IPO Prospectuses

Review of Financial Studies, Vol. 23, p. 2821-2864, 2010, AFA 2010 Atlanta Meetings Paper
Number of pages: 54 Posted: 15 Jan 2009 Last Revised: 22 Jan 2012
Kathleen Weiss Hanley and Gerard Hoberg
Lehigh University - College of Business & Economics and University of Southern California - Marshall School of Business
Downloads 1,471 (7,883)
Citation 23

Abstract:

IPOs, Disclosure, Underpricing, Initial Public Offerings, Book Building, Due Diligence, Equity Offerings

2.

Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis

Number of pages: 48 Posted: 07 Aug 2008 Last Revised: 18 Aug 2011
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business and Tuck School of Business at Dartmouth
Downloads 1,206 (6,746)
Citation 37

Abstract:

Mergers, Product Markets, Text Analysis, Merger Strategies

3.

Are Angels Different? An Analysis of Early Venture Financing

Robert H. Smith School Research Paper No. RHS 06-072
Number of pages: 54 Posted: 19 Mar 2008 Last Revised: 29 Oct 2014
University of Maryland - Robert H. Smith School of Business, University of Southern California - Marshall School of Business, University of Maryland and University of Maryland - Robert H. Smith School of Business
Downloads 1,146 (11,890)
Citation 1

Abstract:

Venture Capital, Angel Investors, Entrepreneurship, Control Rights, Term Sheets

4.

Text-Based Network Industries and Endogenous Product Differentiation

Journal of Political Economy, Forthcoming
Number of pages: 69 Posted: 09 Dec 2009 Last Revised: 04 Jul 2015
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business and Tuck School of Business at Dartmouth
Downloads 1,084 (3,632)
Citation 17

Abstract:

Industry Classifications, Endogenous Barriers to Entry, Product Market Competition, Product Differentiation

5.
Downloads 1,033 ( 16,032)
Citation 41

Real and Financial Industry Booms and Busts

Journal of Finance, Forthcoming
Number of pages: 42 Posted: 21 Mar 2008 Last Revised: 29 Apr 2009
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business and Tuck School of Business at Dartmouth
Downloads 1,015 (16,151)
Citation 41

Abstract:

Product Markets, competition, stock, returns, booms, busts, analysts

Real and Financial Industry Booms and Busts

NBER Working Paper No. w14290
Number of pages: 46 Posted: 01 Sep 2008
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business and Tuck School of Business at Dartmouth
Downloads 18 (464,849)
Citation 41

Abstract:

6.

Optimized vs. Sort-Based Portfolios

AFA 2010 Atlanta Meetings Paper
Number of pages: 45 Posted: 14 Jan 2009 Last Revised: 28 Dec 2009
Gerard Hoberg and Ivo Welch
University of Southern California - Marshall School of Business and University of California, Los Angeles (UCLA)
Downloads 977 (15,166)

Abstract:

book-to-market, HML, characteristics, factors

7.

Product Market Threats, Payouts, and Financial Flexibility

Journal of Finance, Forthcoming
Number of pages: 55 Posted: 17 Mar 2011 Last Revised: 07 Sep 2012
University of Southern California - Marshall School of Business, Tuck School of Business at Dartmouth and University of Maryland - Robert H. Smith School of Business
Downloads 968 (9,368)
Citation 10

Abstract:

Dividends, Repurchases, Payout, Cash, Product Markets, Dynamic Product Markets, Competition

8.
Downloads 933 ( 18,674)
Citation 27

Disappearing Dividends, Catering, and Risk

AFA 2007 Chicago Meetings Paper
Number of pages: 54 Posted: 22 Mar 2005 Last Revised: 16 Dec 2007
Gerard Hoberg and Nagpurnanand Prabhala
University of Southern California - Marshall School of Business and University of Maryland - Robert H. Smith School of Business
Downloads 933 (18,318)
Citation 27

Abstract:

Dividends, idiosyncratic volatility, idiosyncratic risk

Disappearing Dividends, Catering, and Risk

The Review of Financial Studies, Vol. 22, Issue 1, pp. 79-116, 2009
Posted: 03 Jan 2009
Gerard Hoberg and Nagpurnanand Prabhala
University of Southern California - Marshall School of Business and University of Maryland - Robert H. Smith School of Business

Abstract:

G15, G30, G38

9.

Redefining Financial Constraints: A Text-Based Analysis

Number of pages: 55 Posted: 08 Sep 2011 Last Revised: 24 Oct 2014
Gerard Hoberg and Vojislav Maksimovic
University of Southern California - Marshall School of Business and University of Maryland - Robert H. Smith School of Business
Downloads 780 (24,275)
Citation 6

Abstract:

Financial Constraints, Research and Development, Equity Issuance, Asymmetric Information, Debt Overhang, Debt Issuance, Text-Based Analysis

10.

Aged and Recent Market Betas in Securities Pricing

Number of pages: 56 Posted: 17 Dec 2009
Gerard Hoberg and Ivo Welch
University of Southern California - Marshall School of Business and University of California, Los Angeles (UCLA)
Downloads 759 (22,455)
Citation 4

Abstract:

market-beta, factor pricing, APT

11.

Do Fraudulent Firms Produce Abnormal Disclosure?

Vanderbilt Owen Graduate School of Management Research Paper No. 2298302, Robert H. Smith School Research Paper
Number of pages: 52 Posted: 26 Jul 2013 Last Revised: 23 Apr 2015
Gerard Hoberg and Craig M. Lewis
University of Southern California - Marshall School of Business and Vanderbilt University - Finance
Downloads 554 (23,538)

Abstract:

Fraud, Disclosure, Herding, Litigation, Text Analytics, Enforcement

12.

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 and University of Michigan, Stephen M. Ross School of Business
Downloads 522 (38,706)
Citation 9

Abstract:

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

Litigation Risk, Strategic Disclosure and the Underpricing of Initial Public Offerings

Number of pages: 44 Posted: 06 Nov 2009 Last Revised: 22 Jan 2012
Kathleen Weiss Hanley and Gerard Hoberg
Lehigh University - College of Business & Economics and University of Southern California - Marshall School of Business
Downloads 318 (75,668)
Citation 11

Abstract:

Initial Public Offerings, Litigation Risk, Liability Risk, Strategic Disclosure, IPO Prospectus, Text Analysis

Litigation Risk, Strategic Disclosure and the Underpricing of Initial Public Offerings

FEDS Working Paper No. 2011-12
Number of pages: 45 Posted: 18 Apr 2011 Last Revised: 28 Aug 2014
Kathleen Weiss Hanley and Gerard Hoberg
Lehigh University - College of Business & Economics and University of Southern California - Marshall School of Business
Downloads 150 (160,549)
Citation 11

Abstract:

initial public offerings, disclosure, litigation, securities underwriting

14.

Product Market Uniqueness, Organizational Form and Stock Market Valuations

Number of pages: 45 Posted: 13 Oct 2012 Last Revised: 01 Sep 2014
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business and Tuck School of Business at Dartmouth
Downloads 464 (28,161)

Abstract:

stock market valuations, organizational form, conglomerate firms, uniqueness

15.
Downloads 433 ( 52,873)
Citation 7

Industry Choice and Product Language

Number of pages: 45 Posted: 05 Jun 2011 Last Revised: 01 Apr 2015
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business and Tuck School of Business at Dartmouth
Downloads 419 (54,532)
Citation 7

Abstract:

Conglomerates, Firm Organization, Industrial Organization, Product Market Competition, Conglomerate Valuation

Conglomerate Industry Choice and Product Differentiation

NBER Working Paper No. w17221
Number of pages: 50 Posted: 16 Jul 2011
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business and Tuck School of Business at Dartmouth
Downloads 14 (487,991)
Citation 7

Abstract:

16.

Disclosure, Business Change and Earnings Quality

Number of pages: 54 Posted: 04 May 2013 Last Revised: 09 Sep 2015
Meta Heuristica, LLC, University of Southern California - Marshall School of Business and University of Maryland - Robert H. Smith School of Business
Downloads 403 (25,770)

Abstract:

10-K, MD&A, Disclosure, Value Relevance, Text Analytics, Latent Dirichlet Allocation, Discretionary Accruals

17.

Innovation Activities and the Incentives for Vertical Acquisitions and Integration

Number of pages: 53 Posted: 31 Mar 2013 Last Revised: 03 Mar 2017
University of Maryland - Robert H. Smith School of Business, University of Southern California - Marshall School of Business and Tuck School of Business at Dartmouth
Downloads 386 (29,956)
Citation 2

Abstract:

Mergers and Acquisitions, Vertical Mergers, Vertical Integration

18.

The Underwriter Persistence Phenomenon

Number of pages: 51 Posted: 25 Jan 2005
Gerard Hoberg
University of Southern California - Marshall School of Business
Downloads 322 (66,916)
Citation 17

Abstract:

Initial Public Offers, IPOs, corporate finance, underwriters, initial returns, underpricing

19.

Mutual Fund Competition, Managerial Skill, and Alpha Persistence

Finance Down Under 2015 Building on the Best from the Cellars of Finance Paper, Robert H. Smith School Research Paper No. RHS 2422906
Number of pages: 93 Posted: 11 Apr 2014 Last Revised: 23 Apr 2017
Gerard Hoberg, Nitin Kumar and Nagpurnanand Prabhala
University of Southern California - Marshall School of Business, Indian School of Business and University of Maryland - Robert H. Smith School of Business
Downloads 251 (46,682)
Citation 1

Abstract:

Mutual funds, alpha, skill, persistence, peers, customized benchmarks, competition

20.

Noise in Stock Returns as Natural Experiments: Forward- and Backward-Looking Market-Betas, Momentum, and Reversals

Number of pages: 49 Posted: 23 Mar 2009 Last Revised: 14 May 2009
Gerard Hoberg and Ivo Welch
University of Southern California - Marshall School of Business and University of California, Los Angeles (UCLA)
Downloads 251 (90,325)

Abstract:

21.

Does Product Market Competition Drive CVC Investment? Evidence from the U.S. IT Industry

Forthcoming at Information Systems Research
Number of pages: 59 Posted: 03 May 2013 Last Revised: 22 Sep 2016
Keongtae Kim, Anandasivam Gopal and Gerard Hoberg
College of Business, City University of Hong Kong, University of Maryland - Robert H. Smith School of Business and University of Southern California - Marshall School of Business
Downloads 237 (63,921)

Abstract:

information technology, product market competition, corporate venture capital, absorptive capacity, innovation, econometrics, text analysis

22.

Can Anomalies Survive Insider Disagreements?

Marshall School of Business Working Paper No. 17-1
Number of pages: 56 Posted: 03 Jul 2015 Last Revised: 21 Feb 2017
Deniz Anginer, Gerard Hoberg and H. Nejat Seyhun
World Bank Research, University of Southern California - Marshall School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 225 (50,348)

Abstract:

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

23.

Text-Based Industry Momentum

Number of pages: 56 Posted: 04 Oct 2014 Last Revised: 11 Jul 2015
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business and Tuck School of Business at Dartmouth
Downloads 200 (50,048)

Abstract:

Momentum, Information Processing, Industry Shocks, Stock Returns, Alpha, Trading Strategies, Market Efficiency, Reversals

24.

The Offshoring Return Premium

Number of pages: 49 Posted: 02 Jan 2014 Last Revised: 24 May 2017
Gerard Hoberg and S. Katie Moon
University of Southern California - Marshall School of Business and University of Colorado at Boulder - Leeds School of Business
Downloads 147 (119,387)
Citation 1

Abstract:

Offshore Activities, Global Trade Network, Consumption Risk

25.

Offshore Activities and Financial vs Operational Hedging

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 56 Posted: 19 Jun 2014 Last Revised: 08 Sep 2016
Gerard Hoberg and S. Katie Moon
University of Southern California - Marshall School of Business and University of Colorado at Boulder - Leeds School of Business
Downloads 122 (70,832)

Abstract:

Offshore Activities, Operational Hedging, Financial Hedging, Global Consumption Risk, 10-K Filings

26.

Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis

NBER Working Paper No. w14289
Number of pages: 56 Posted: 01 Sep 2008
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business and Tuck School of Business at Dartmouth
Downloads 55 (308,402)
Citation 43

Abstract:

27.

Text-Based Network Industries and Endogenous Product Differentiation

NBER Working Paper No. w15991
Number of pages: 51 Posted: 17 May 2010
Gordon M. Phillips and Gerard Hoberg
Tuck School of Business at Dartmouth and University of Southern California - Marshall School of Business
Downloads 54 (239,506)
Citation 22

Abstract:

28.

Product Integration and Merger Success

Tuck School of Business Working Paper No. 2933283, Marshall School of Business Working Paper No. 17-21
Number of pages: 53 Posted: 16 Mar 2017
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business and Tuck School of Business at Dartmouth
Downloads 0 (331,262)

Abstract:

mergers, integration, stock returns, product markets, text analysis

29.

Dynamic Interpretation of Emerging Systemic Risks

Number of pages: 55 Posted: 11 Jun 2016 Last Revised: 30 Oct 2016
Kathleen Weiss Hanley and Gerard Hoberg
Lehigh University - College of Business & Economics and University of Southern California - Marshall School of Business
Downloads 0 (89,949)

Abstract:

Systemic Risk, Bank, Financial Institutions, Financial Crisis, Computational Linguistics, Text Analytics, Failure