Fernando Zapatero

University of Southern California - Marshall School of Business

701 Exposition Blvd

Los Angeles, CA 90089

United States

SCHOLARLY PAPERS

32

DOWNLOADS
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3,564

CITATIONS
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Top 7,651

in Total Papers Citations

61

Scholarly Papers (32)

1.

Analytic Pricing of Employee Stock Options

Number of pages: 43 Posted: 03 Nov 2004
Jaksa Cvitanic, Fernando Zapatero and Zvi Wiener
California Institute of Technology - Division of the Humanities and Social Sciences, University of Southern California - Marshall School of Business and Hebrew University of Jerusalem - Jerusalem School of Business Administration
Downloads 665 (37,304)
Citation 12

Abstract:

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Employee stock options, early exercise, analytic formula

The Trade-Off Model with Mean Reverting Earnings: Theory and Empirical Tests

Economic Journal, Vol. 113, pp. 834-860, October 2003
Number of pages: 27 Posted: 09 Oct 2003
Sudipto Sarkar and Fernando Zapatero
McMaster University - Finance & Business Economics and University of Southern California - Marshall School of Business
Downloads 25 (496,204)
Citation 10
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3.

Asset Pricing Implications of Benchmarking: A Two-Factor CAPM

European Journal of Finance Vol.9, p. 343-357, August 2003
Number of pages: 18 Posted: 17 Oct 2003 Last Revised: 17 Mar 2015
Juan-Pedro Gomez and Fernando Zapatero
IE Business School - IE University and University of Southern California - Marshall School of Business
Downloads 456 (60,615)
Citation 15

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Asset pricing, benchmark portfolio, relative performance

4.

The Representative Agent of an Economy with External Habit-Formation and Heterogeneous Risk-Aversion

The Review of Financial Studies, August 2010.
Number of pages: 45 Posted: 18 Mar 2008 Last Revised: 10 Jan 2018
Costas Xiouros and Fernando Zapatero
BI Norwegian Business School and University of Southern California - Marshall School of Business
Downloads 278 (106,815)
Citation 10

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Heterogeneous preferences, general equilibrium, closed-form expression

5.

A Tale of Two Types: Generalists vs. Specialists in Asset Management

Number of pages: 60 Posted: 26 Oct 2015 Last Revised: 20 Oct 2017
Rafael Zambrana and Fernando Zapatero
Nova School of Business and Economics and University of Southern California - Marshall School of Business
Downloads 254 (117,447)

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Mutual Fund, Asset Management, Human Capital, Portfolio Manager, Specialist, Generalist, Multi-tasking.

6.

Labor Income, Relative Wealth Concerns, and the Cross-section of Stock Returns

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming, AFA 2009 San Francisco Meetings Paper, EFA 2008 Athens Meetings Paper
Number of pages: 46 Posted: 05 Mar 2008 Last Revised: 17 Mar 2015
Juan-Pedro Gomez, Richard Priestley and Fernando Zapatero
IE Business School - IE University, Norwegian Business School and University of Southern California - Marshall School of Business
Downloads 221 (134,986)

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Labor income risk, relative wealth concerns, local risk hedging, negative risk premium

7.
Downloads 214 (139,168)
Citation 2

Executive Stock Options as a Screening Mechanism

Number of pages: 30 Posted: 24 Jun 2005 Last Revised: 20 Feb 2012
Abel Cadenillas, Jaksa Cvitanic and Fernando Zapatero
University of Alberta - Department of Mathematical and Statistical Sciences, California Institute of Technology - Division of the Humanities and Social Sciences and University of Southern California - Marshall School of Business
Downloads 132 (212,636)
Citation 2

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Executive Stock Options, Incomplete Information

Executive Stock Options as a Screening Mechanism

Number of pages: 31 Posted: 04 Mar 2005
Abel Cadenillas, Fernando Zapatero and Jaksa Cvitanic
University of Alberta - Department of Mathematical and Statistical Sciences, University of Southern California - Marshall School of Business and California Institute of Technology - Division of the Humanities and Social Sciences
Downloads 82 (296,672)
Citation 2

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Executive stock options, optimal compensation

8.

Riding the Bubble with Convex Incentives

Marshall School of Business Working Paper No. FBE 06.14
Number of pages: 53 Posted: 25 Jul 2014 Last Revised: 16 Apr 2018
Juan M. Sotes-Paladino and Fernando Zapatero
University of Melbourne - Department of Finance and University of Southern California - Marshall School of Business
Downloads 195 (151,894)

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money management, convex incentives, benchmarking, mispricing

9.

The Effect of Star Analyst Tournaments on Firms' Information Environment

Marshall School of Business Working Paper No. FBE 05.14
Number of pages: 66 Posted: 22 Apr 2014 Last Revised: 02 Sep 2016
Gil Aharoni, Joshua Shemesh and Fernando Zapatero
University of Melbourne, Monash University - Department of Banking and Finance and University of Southern California - Marshall School of Business
Downloads 182 (161,733)

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Star Analysts, Strategic Announcements, Forecast Error

10.
Downloads 151 (190,097)
Citation 2

Uncertainty and Dispersion of Opinions

Number of pages: 57 Posted: 15 Mar 2010 Last Revised: 23 Sep 2018
Min S. Kim and Fernando Zapatero
University of Texas at Austin and University of Southern California - Marshall School of Business
Downloads 151 (190,528)
Citation 2

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uncertainty, dispersion, forecasts, relative performance evaluation, stock recommendation

Rational Bias and Herding in Analysts' Recommendations

Posted: 03 Dec 2009 Last Revised: 14 Sep 2011
Min S. Kim and Fernando Zapatero
University of Texas at Austin and University of Southern California - Marshall School of Business

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stock recommendation, bias, herding, relative performance evaluation

Why Do Financial Analysts Strive to Be Irrelevant? Career Concerns and Endogenous Coverage Termination

Number of pages: 50 Posted: 05 Nov 2014
Marco A. Navone and Fernando Zapatero
Finance Discipline Group - UTS Business School and University of Southern California - Marshall School of Business
Downloads 85 (290,191)

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Financial Analysts, Career Concerns, Idiosyncratic Risk

Why Do Financial Analysts Strive to Be Irrelevant? Career Concerns and Endogenous Coverage Termination

BAFFI CAREFIN Centre Research Paper No. 2015-7, Marshall School of Business Working Paper No. FBE 03.16
Number of pages: 45 Posted: 07 May 2015 Last Revised: 12 Apr 2016
Marco A. Navone and Fernando Zapatero
Finance Discipline Group - UTS Business School and University of Southern California - Marshall School of Business
Downloads 64 (341,928)

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Financial Analysts, Career Concerns, Idiosyncratic Risk

12.

A Class of Quadratic Options for Exchange Rate Stabilization

Number of pages: 24 Posted: 27 Dec 2005
Sangwon Suh and Fernando Zapatero
Bank of Korea and University of Southern California - Marshall School of Business
Downloads 137 (205,621)

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Foreign exchange intervention, exotic options

13.

The Intensity of Keeping Up with the Joneses Behavior: Evidence from Neighbor Effects in Car Purchases

Number of pages: 38 Posted: 10 Apr 2011 Last Revised: 02 Sep 2016
Joshua Shemesh and Fernando Zapatero
Monash University - Department of Banking and Finance and University of Southern California - Marshall School of Business
Downloads 105 (250,823)

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Relative Wealth Concerns, Conspicuous Consumption

14.

Demand for Lotteries: The Choice between Stocks and Options

Number of pages: 70 Posted: 11 Aug 2017 Last Revised: 31 Jul 2018
Ilias Filippou, Pedro Garcia-Ares and Fernando Zapatero
Washington University in St. Louis - John M. Olin Business School, University of Exeter and University of Southern California - Marshall School of Business
Downloads 104 (252,465)

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Lottery-payoffs, Option Trading, Lottery Stocks

15.

Stock and Bond Prices with Disagreement and Habit Formation Preferences

Number of pages: 23 Posted: 19 Mar 2011
Costas Xiouros and Fernando Zapatero
BI Norwegian Business School and University of Southern California - Marshall School of Business
Downloads 74 (312,192)

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Habit Formation, Disagreement, Heterogeneous Beliefs, Equilibrium

16.

Helping the Little Guy: The Impact of Government Awards on Small Technology Firms

Number of pages: 28 Posted: 18 Oct 2017 Last Revised: 23 Jul 2018
Aleksandar Giga, Andrea Belz, Richard Terrile and Fernando Zapatero
University of Southern California, University of Southern California - Viterbi School of Engineering, Government of the United States of America - Jet Propulsion Laboratory and University of Southern California - Marshall School of Business
Downloads 71 (319,554)

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Innovation Policy, SBIR, R&D Subsidies, Entrepreneurship

17.

A Rationale for Benchmarking in Money Management

Number of pages: 41 Posted: 26 Sep 2016 Last Revised: 15 Apr 2017
Juan M. Sotes-Paladino and Fernando Zapatero
University of Melbourne - Department of Finance and University of Southern California - Marshall School of Business
Downloads 70 (322,018)

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portfolio delegation, benchmarking, fulcrum fees, asymmetric information

18.

Optimal Acquisition of a Partially Hedgeable House

Marshall School of Business Working Paper No. FBE 25-09
Number of pages: 31 Posted: 02 Mar 2009 Last Revised: 19 Apr 2009
Coskun Cetin and Fernando Zapatero
California State University, Sacramento and University of Southern California - Marshall School of Business
Downloads 64 (337,614)

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Stopping Time, Incomplete Markets, Martingale Methods

19.

Rolling the Skewed Die: Economic Foundations of the Demand for Skewness

Number of pages: 64 Posted: 10 May 2018
Suk Lee, Fernando Zapatero and Aleksandar Giga
University of Southern California, Marshall School of Business, University of Southern California - Marshall School of Business and University of Southern California
Downloads 60 (348,702)

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endogenous demand for skewness, utility function, aspiration, status

20.

Skewness Seeking in a Dynamic Portfolio Choice Experiment

CEPR Discussion Paper No. DP11056, 8th Miami Behavioral Finance Conference 2017
Number of pages: 38 Posted: 27 Jan 2016
University of Southern California - Department of Economics, University of Southern California - Department of Economics, University of Southern California and University of Southern California - Marshall School of Business
Downloads 36 (430,682)

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laboratory experiment, portfolio allocation, relative performance, skewed asset

21.

Optimal Dividend Policy with Mean-Reverting Cash Reservoir

Mathematical Finance, Vol. 17, No. 1, pp. 81-109, January 2007
Number of pages: 29 Posted: 13 Dec 2006
Abel Cadenillas, Fernando Zapatero and Sudipto Sarkar
University of Alberta - Department of Mathematical and Statistical Sciences, University of Southern California - Marshall School of Business and McMaster University - Finance & Business Economics
Downloads 24 (487,279)
Citation 9
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22.

Mapping the 'Valley of Death': Managing Selection and Technology Advancement in NASA's Small Business Innovation Research Program

Number of pages: 32 Posted: 14 Aug 2018 Last Revised: 14 Jan 2019
University of Southern California - Viterbi School of Engineering, University of Southern California - Marshall School of Business, Government of the United States of America - Jet Propulsion Laboratory, University of Southern California - Department of Economics and University of Southern California
Downloads 20 (509,532)

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TRL, NASA, SBIR, Entrepreneurship, Innovation, Technology Maturity

23.

Financing Cascades: Sequencing Public and Private Funding in University Spinoffs

Number of pages: 24 Posted: 27 Feb 2019
Andrea Belz, Sara Gong and Fernando Zapatero
University of Southern California - Viterbi School of Engineering, University of Southern California and University of Southern California - Marshall School of Business
Downloads 9 (573,349)

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I-Corps, SBIR, Entrepreneurship, University Spinoff, Academic, Venture Capital

24.

Risk Aversion in a Dynamic Asset Allocation Experiment

CEPR Discussion Paper No. DP10332
Number of pages: 40 Posted: 23 Jan 2015
University of Southern California - Department of Economics, University of Southern California - Department of Economics, University of Southern California and University of Southern California - Marshall School of Business
Downloads 0 (650,323)
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CRRA, HARA, laboratory experiments, portfolio allocation, risk aversion

25.

Implications of Keeping up with the Joneses Behavior for the Equilibrium Cross Section of Stock Returns: International Evidence

Implications of Keeping-up-with-the-Joneses Behavior for the Equilibrium Cross Section of Stock Returns: International Evidence Juan-Pedro Gómez, Richard Priestley and Fernando Zapatero The Journal of Finance Vol. 64, No. 6 (Dec., 2009), pp. 2703-2737
Posted: 03 Feb 2009 Last Revised: 17 Mar 2015
Juan-Pedro Gomez, Richard Priestley and Fernando Zapatero
IE Business School - IE University, Norwegian Business School and University of Southern California - Marshall School of Business

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Keeping up with the Joneses, restricted market participation, international asset pricing, local risk, global risk

26.

Empirical Performance of Levy Option Pricing Models

Posted: 12 Sep 2008 Last Revised: 21 Sep 2008
Ming Ji and Fernando Zapatero
affiliation not provided to SSRN and University of Southern California - Marshall School of Business

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Levy Process, Fourier Transform

27.

Analytic Pricing of Employee Stock Options

Review of Financial Studies, Vol. 21, Issue 2, pp. 683-724, 2008
Posted: 26 Jun 2008
Jakaa Cvitani, Zvi Wiener and Fernando Zapatero
affiliation not provided to SSRN, Hebrew University of Jerusalem - Jerusalem School of Business Administration and University of Southern California - Marshall School of Business

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28.

Dynamic Portfolio Choice with Parameter Uncertainty and the Economic Value of Analysts' Recommendations

The Review of Financial Studies, Vol. 19, Issue 4, pp. 1113-1156, 2006
Posted: 29 Feb 2008
affiliation not provided to SSRN, University of Southern California - Marshall School of Business, University of British Columbia Sauder School of Business and EDHEC Business School

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29.

Optimal Risk Taking with Flexible Income

AFA 2008 New Orleans Meetings Paper
Posted: 09 Mar 2006 Last Revised: 09 Feb 2019
Jaksa Cvitanic, Levon Goukasian and Fernando Zapatero
California Institute of Technology - Division of the Humanities and Social Sciences, Pepperdine University - Business Division and University of Southern California - Marshall School of Business

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Utility Maximization, Optimal Portfolio Selection, Optimal Effort

30.

Classical and Impulse Stochastic Control of the Exchange Rate Using Interest Rates and Reserves

Mathematical Finance, Vol. 10, Issue 2, April 2000
Posted: 15 Dec 2000
Abel Cadenillas and Fernando Zapatero
University of Alberta - Department of Mathematical and Statistical Sciences and University of Southern California - Marshall School of Business

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31.

On the Recoverability of Preferences and Beliefs

Review of Financial Studies, Vol. 13, No. 2
Posted: 16 May 2000
Domenico Cuoco and Fernando Zapatero
University of Pennsylvania - Finance Department and University of Southern California - Marshall School of Business

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32.

Valuation, Optimal Asset Allocation and Retirement Incentives of Pension Plans

Review of Financial Studies, Vol. 10, No. 3
Posted: 30 Jul 1997
Suresh M. Sundaresan and Fernando Zapatero
Columbia Business School - Finance and Economics and University of Southern California - Marshall School of Business

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