J.B. Heaton

J.B. Heaton Research LLC

Managing Member

Chicago, IL

United States

J.B. Heaton, P.C.

Chicago, IL

United States

http://jbheaton.com

SCHOLARLY PAPERS

43

DOWNLOADS
Rank 702

SSRN RANKINGS

Top 702

in Total Papers Downloads

30,518

CITATIONS
Rank 44,966

SSRN RANKINGS

Top 44,966

in Total Papers Citations

3

Ideas:
“  The truth is out there.  ”

Scholarly Papers (43)

1.

Deep Learning for Finance: Deep Portfolios

Number of pages: 15 Posted: 14 Sep 2016 Last Revised: 18 Feb 2019
J.B. Heaton, Nick Polson and Jan Witte
J.B. Heaton Research LLC, University of Chicago - Booth School of Business and University College London - Department of Mathematics
Downloads 6,332 (939)

Abstract:

Loading...

Deep Learning, Machine Learning, Big Data, Artificial Intelligence, Finance, Asset Pricing, Volatility, Deep Frontier

2.

Why Indexing Works

Number of pages: 7 Posted: 14 Oct 2015 Last Revised: 18 Feb 2019
J.B. Heaton, Nick Polson and Jan Witte
J.B. Heaton Research LLC, University of Chicago - Booth School of Business and University College London - Department of Mathematics
Downloads 5,750 (1,109)

Abstract:

Loading...

Indexing, Passive Management, Active Management

3.

Managerial Optimism and Corporate Finance

Financial Management, Summer 2002
Number of pages: 14 Posted: 25 Apr 2002 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 3,908 (2,162)
Citation 126

Abstract:

Loading...

Behavioral Finance, Corporate Finance, Agency Costs, Asymmetric Information, Underinvestment, Overinvestment, Free Cash Flow

4.

Competing Theories of Financial Anomalies

The Review of Financial Studies, v 15 n 2 2002
Number of pages: 32 Posted: 25 Jan 2000 Last Revised: 18 Feb 2019
Alon Brav and J.B. Heaton
Duke University - Fuqua School of Business and J.B. Heaton Research LLC
Downloads 2,944 (3,543)
Citation 101

Abstract:

Loading...

5.

The Rational-Behavioral Debate in Financial Economics

Journal of Economic Methodology, 11:4, 393–409 December 2004
Number of pages: 17 Posted: 14 Jul 2004 Last Revised: 18 Feb 2019
Alon Brav, J.B. Heaton and Alex Rosenberg
Duke University - Fuqua School of Business, J.B. Heaton Research LLC and Duke University
Downloads 1,405 (12,203)
Citation 4

Abstract:

Loading...

Raional Finance, Behavioral Finance, Economic Methodolology

6.

Solvency Tests

Business Lawyer, Vol. 62, No. 3, 983-1006 (2007).
Number of pages: 24 Posted: 19 Sep 2006 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 1,225 (15,126)

Abstract:

Loading...

Insolvency, Bankruptcy, Fiduciary Duties, Creditors, Valuation

7.

Who Fields the Best Team?: A (Better) Measure of the Top Ten U.S. Law Schools by Faculty Impact

Number of pages: 11 Posted: 16 Nov 2018 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 1,212 (15,403)

Abstract:

Loading...

rankings, legal scholarship, top law schools

8.
Downloads 1,208 ( 15,478)
Citation 13

The Limits of the Limits of Arbitrage

Review of Finance, 14(1):157-187 (2010)
Number of pages: 35 Posted: 12 Jul 2006 Last Revised: 18 Feb 2019
Alon Brav, J.B. Heaton and Si Li
Duke University - Fuqua School of Business, J.B. Heaton Research LLC and Wilfrid Laurier University - School of Business & Economics
Downloads 1,208 (15,164)
Citation 13

Abstract:

Loading...

Market Efficiency, Behavioral Finance, Limits on Arbitrage, Idiosyncratic Volatility

The Limits of the Limits of Arbitrage

Review of Finance, Vol. 14, Issue 1, pp. 157-187, 2010
Posted: 25 Jan 2010 Last Revised: 18 Feb 2019
Alon Brav, J.B. Heaton and Si Li
Duke University - Fuqua School of Business, J.B. Heaton Research LLC and Wilfrid Laurier University - School of Business & Economics

Abstract:

Loading...

G11, G12, G14

9.

How Active Management Survives

Number of pages: 21 Posted: 20 Jun 2018 Last Revised: 18 Feb 2019
J.B. Heaton and Ginger Pennington
J.B. Heaton Research LLC and Northwestern University, Department of Psychology
Downloads 919 (23,258)

Abstract:

Loading...

Investor Psychology, Behavioral Finance, Active Management, Passive Management, Irrational Investors, Asset Management

10.

Naked Shorting

Regulation, 2008
Number of pages: 30 Posted: 30 Apr 2007 Last Revised: 18 Feb 2019
Christopher L. Culp and J.B. Heaton
Johns Hopkins University - Institute for Applied Economics, Global Health, and Study of Business Enterprise and J.B. Heaton Research LLC
Downloads 870 (25,197)
Citation 1

Abstract:

Loading...

Naked Shorting, Short Selling, Manipulation

11.
Downloads 657 ( 37,125)

Deepening Insolvency

Number of pages: 54 Posted: 23 Nov 2004 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 657 (36,573)

Abstract:

Loading...

Deepening insolvency, costs of financial distress

Deepening Insolvency

Journal of Corporation Law, Forthcoming
Posted: 27 Apr 2005
J.B. Heaton
J.B. Heaton Research LLC

Abstract:

Loading...

Deepening insolvency

12.

Event Studies in Securities Litigation: Low Power, Confounding Effects, and Bias

Washington University Law Review, Vol. 93, No. 2, 2015
Number of pages: 33 Posted: 21 Mar 2015 Last Revised: 18 Feb 2019
Alon Brav and J.B. Heaton
Duke University - Fuqua School of Business and J.B. Heaton Research LLC
Downloads 625 (39,628)

Abstract:

Loading...

event studies, securities litigation

13.

Failed Anti-Activist Legislation: The Curious Case of the Brokaw Act

Journal of Business, Entrepreneurship and the Law, Forthcoming
Number of pages: 24 Posted: 29 Oct 2016 Last Revised: 18 Feb 2019
Alon Brav, J.B. Heaton and Jonathan Zandberg
Duke University - Fuqua School of Business, J.B. Heaton Research LLC and Boston College - Carroll School of Management
Downloads 489 (54,291)

Abstract:

Loading...

hedge fund activism, corporate law, shareholder activism, shareholder activist, hedge fund activist

14.

Overconfidence, Compensation Contracts, and Capital Budgeting

Journal of Finance, Vol. 66, No. 5, pp. 1725-77 (2011)
Number of pages: 53 Posted: 07 Mar 2011 Last Revised: 18 Feb 2019
Simon Gervais, J.B. Heaton and Terrance Odean
Duke University - Fuqua School of Business, J.B. Heaton Research LLC and University of California, Berkeley - Haas School of Business
Downloads 457 (59,168)
Citation 13

Abstract:

Loading...

overconfidence, capital budgeting, compensation, labor market

15.

Quantitative Investing and the Limits of (Deep) Learning from Financial Data

Number of pages: 22 Posted: 08 Mar 2018 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 385 (72,645)

Abstract:

Loading...

quantitative investment management, hedge funds, deep learning, artificial intelligence, index funds

16.

Debt Capacity and Fraudulent Conveyance Law

Journal of Financial Intermediation, Vol. 9, pp. 169-183 (2000).
Number of pages: 30 Posted: 09 May 1998 Last Revised: 17 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 375 (74,939)
Citation 1

Abstract:

Loading...

17.

Smart Money, Dumb Money, and Learning Type from Price

Number of pages: 23 Posted: 09 Aug 2011 Last Revised: 18 Feb 2019
J.B. Heaton and Nick Polson
J.B. Heaton Research LLC and University of Chicago - Booth School of Business
Downloads 276 (105,487)

Abstract:

Loading...

smart money, dumb money, noise traders, limits of arbitrage, learning, heterogeneous beliefs

18.

Litigation Funding: An Economic Analysis

Number of pages: 23 Posted: 30 Jan 2018 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 228 (128,413)

Abstract:

Loading...

Litigation Funding, Economic Analysis of Litigation, Risk-Neutral Probabilities, Optimism, Pessimism

19.

Corporate Governance and the Cult of Agency

Villanova Law Review, Forthcoming
Number of pages: 23 Posted: 10 Jul 2018 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 190 (152,641)

Abstract:

Loading...

Agency Problems, Agency Costs, Corporate Governance, Behavioral Law and Economics, Behavioral Finance, Corporate Law

20.

The 'Long Term' in Corporate Law

The Business Lawyer; Vol. 72, Spring 2017
Number of pages: 14 Posted: 07 Nov 2016 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 190 (152,641)

Abstract:

Loading...

Corporate Law, Corporate Governance, Shareholder Activism, Myopia

21.

Sex, Drugs, and Rock 'N' Roll: Some Observations of Life on a Trial Team

South Dakota Law Review, Forthcoming
Number of pages: 9 Posted: 22 Aug 2018 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 184 (157,101)

Abstract:

Loading...

trial practice, substance abuse, legal education

22.

Hedge Fund Activists: Pessimists in a World of Managerial Optimism

Number of pages: 11 Posted: 08 Mar 2018 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 149 (188,551)

Abstract:

Loading...

hedge fund activism, behavioral finance, optimism, pessimism, wolf packs

23.

All You Need is Passive A Response to Professors Fisch, Hamdani, and Davidoff Solomon

Number of pages: 9 Posted: 10 Jul 2018 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 112 (235,167)

Abstract:

Loading...

Passive investing, corporate governance, securities law, mutual funds, ETFs, institutional investors, shareholder activism

24.

What Injures a Corporation? Toward Better Understanding Corporate Personality

Business Lawyer , Vol. 73, No. 4, 2018
Number of pages: 20 Posted: 11 Feb 2018 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 73 (309,048)

Abstract:

Loading...

Injury, Standing, Corporate Law, Corporate Litigation, Citizens United, Hobby Lobby, Corporate Personality

25.

Positive Equity Prices with Insolvency under Legal Solvency Tests

Number of pages: 15 Posted: 22 Nov 2016 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 69 (318,701)

Abstract:

Loading...

Solvency, Insolvency, Valuation, Option Value of Equity, Fraudulent Transfer, Preference, Shifting Fiduciary Duties

26.

Market Indeterminacy

Journal of Corporation Law, Vol. 28, 2003
Number of pages: 36 Posted: 06 Oct 2003
Alon Brav and J.B. Heaton
Duke University - Fuqua School of Business and J.B. Heaton Research LLC
Downloads 50 (373,046)
Citation 3

Abstract:

Loading...

27.

Misleading Omissions: A Bayesian Framework

Number of pages: 16 Posted: 12 Dec 2017 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 48 (379,686)

Abstract:

Loading...

Bayesian Analysis, Omissions, Omnicare, Opioid Litigation, Product Liability

28.

Risk Aversion as Risk-Neutral Pessimism: A Simple Proof

International Review of Law and Economics, Forthcoming
Number of pages: 8 Posted: 29 May 2018 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 40 (407,652)

Abstract:

Loading...

Economic Analysis of Litigation, Risk Aversion, Risk Neutral Probabilities, Pessimism, Criminal Law, Plea Bargains, Settlement

29.

Debt and Insolvency

Review of Banking and Financial Law, Forthcoming
Number of pages: 34 Posted: 20 Jun 2018 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 33 (435,460)

Abstract:

Loading...

Law and Finance, Security Design, Debt Capacity, Debt Yields, Insolvency, Capital Structure

30.

Too Much Insolvency: 'Unmatured Interest' and 'Debt' Under the Code

American Bankruptcy Institute Law Review , Forthcoming
Number of pages: 6 Posted: 14 Dec 2017 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 30 (448,862)

Abstract:

Loading...

Insolvency, Solvency Tests, Bankruptcy Code

31.

Bias-Corrected Estimation of Price Impact in Securities Litigation

Number of pages: 35 Posted: 31 Jan 2019
Taylor Dove, Davidson Heath and J.B. Heaton
University of Utah - David Eccles School of Business, University of Utah David Eccles School of Business and J.B. Heaton Research LLC
Downloads 29 (453,435)

Abstract:

Loading...

Event Studies, Securities Litigation, Bias Correction, Price Impact, Compensatory Damages, Punitive Damages

32.

Just This Once: A More Plausible Model of Addiction and Its Policy Implications

Number of pages: 11 Posted: 24 Aug 2018 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 24 (478,953)

Abstract:

Loading...

Rational Addiction, Irrational Addiction, Behavioral Economics, Bayesian Analysis, Health Economics

33.

One Pill Makes You Larger: Flaws in Sisk’s Westlaw Methodology Illustrated With Leiter’s Citations

Number of pages: 9 Posted: 28 Aug 2018 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 11 (551,564)

Abstract:

Loading...

Citation Studies, Faculty Rankings

34.

The Social Costs of Dividends and Share Repurchases

Number of pages: 18 Posted: 20 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 9 (562,951)

Abstract:

Loading...

35.

Settlement Pressure

International Review of Law and Economics, Vol. 25, pp. 264-275 (2005)
Number of pages: 12 Posted: 18 Apr 2004 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 6 (580,170)

Abstract:

Loading...

Class certification, settlement, civil procedure, economic analysis of litigation

36.
Downloads 3 (599,270)

Abstract:

Loading...

37.

Three Reasons Active Equity Managers Underperform

Number of pages: 14 Posted: 16 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 2 (608,433)

Abstract:

Loading...

Passive Management, Active Management, Indexing, Investment Strategy

38.

Simple Insolvency Detection for Publicly-Traded Firms

Number of pages: 22 Posted: 16 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC
Downloads 1 (620,092)

Abstract:

Loading...

39.

Worthless Companies

European Financial Management, Vol. 24, Issue 5, pp. 721-727, 2018
Number of pages: 7 Posted: 16 Nov 2018
J.B. Heaton
J.B. Heaton Research LLC
Downloads 0 (636,644)
  • Add to Cart

Abstract:

Loading...

mergers & acquisitions, bad bidders, bubble company, unicorns, short selling

40.

Returns, Risk, and Financial Due Diligence

FINANCE ETHICS, J. R. Boatright, ed., New York: Wiley, 2010
Posted: 04 Aug 2009 Last Revised: 18 Feb 2019
Christopher L. Culp and J.B. Heaton
Johns Hopkins University - Institute for Applied Economics, Global Health, and Study of Business Enterprise and J.B. Heaton Research LLC

Abstract:

Loading...

41.

Patent Law and Financial Engineering

Derivatives Quarterly, Winter 2000
Posted: 27 Mar 2001 Last Revised: 18 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC

Abstract:

Loading...

42.

Did Erisa's Prudent Man Rule Change the Pricing of Dividend Omitting Firms?

Posted: 14 Jun 1998 Last Revised: 17 Feb 2019
Alon Brav and J.B. Heaton
Duke University - Fuqua School of Business and J.B. Heaton Research LLC

Abstract:

Loading...

43.

An Economic Analysis of Fraudulent Conveyance Law

Journal of Financial Intermediation, Vol. 9, pp. 169-183 (2000).
Posted: 15 May 1997 Last Revised: 17 Feb 2019
J.B. Heaton
J.B. Heaton Research LLC

Abstract:

Loading...