J.B. Heaton

One Hat Research LLC

Managing Member

Chicago, IL

United States

http://www.onehatr.com/

SCHOLARLY PAPERS

25

DOWNLOADS
Rank 1,232

SSRN RANKINGS

Top 1,232

in Total Papers Downloads

39,340

SSRN CITATIONS
Rank 4,968

SSRN RANKINGS

Top 4,968

in Total Papers Citations

174

CROSSREF CITATIONS

184

Ideas:
“  Nothing is at last sacred but the integrity of your own mind.  ”

Scholarly Papers (25)

1.

Deep Learning for Finance: Deep Portfolios

Applied Stochastic Models in Business and Industry 33 (1), 3-12.
Number of pages: 10 Posted: 14 Sep 2016 Last Revised: 17 Oct 2022
J.B. Heaton, Nick Polson and Jan Witte
One Hat Research LLC, University of Chicago - Booth School of Business and University College London - Department of Mathematics
Downloads 11,401 (823)
Citation 74

Abstract:

Loading...

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

2.

Why Indexing Works

Applied Stochastic Models in Business and Industry 33 (6), 690-693.
Number of pages: 4 Posted: 14 Oct 2015 Last Revised: 17 Oct 2022
J.B. Heaton, Nick Polson and Jan Witte
One Hat Research LLC, University of Chicago - Booth School of Business and University College London - Department of Mathematics
Downloads 7,826 (1,583)
Citation 3

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
One Hat Research LLC
Downloads 4,559 (3,968)
Citation 60

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 One Hat Research LLC
Downloads 3,110 (7,472)
Citation 41

Abstract:

Loading...

5.

Solvency Tests

Business Lawyer, Vol. 62, No. 3, 983-1006 (2007).
Number of pages: 24 Posted: 19 Sep 2006 Last Revised: 25 Mar 2021
J.B. Heaton
One Hat Research LLC
Downloads 1,698 (19,433)
Citation 5

Abstract:

Loading...

Insolvency, Bankruptcy, Fiduciary Duties, Creditors, Valuation

6.

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, One Hat Research LLC and Duke University
Downloads 1,519 (23,087)
Citation 2

Abstract:

Loading...

Raional Finance, Behavioral Finance, Economic Methodolology

7.
Downloads 1,284 (29,599)
Citation 12

The Limits of the Limits of Arbitrage

Review of Finance, 14(1):157-187 (2010)
Number of pages: 31 Posted: 12 Jul 2006 Last Revised: 30 Mar 2021
Alon Brav, J.B. Heaton and Si Li
Duke University - Fuqua School of Business, One Hat Research LLC and Wilfrid Laurier University - School of Business & Economics
Downloads 1,284 (29,110)
Citation 12

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, One Hat Research LLC and Wilfrid Laurier University - School of Business & Economics

Abstract:

Loading...

G11, G12, G14

8.
Downloads 1,180 (33,485)
Citation 2

How Active Management Survives

Financial Planning Review, forthcoming 2019.
Number of pages: 23 Posted: 20 Jun 2018 Last Revised: 28 Mar 2019
J.B. Heaton and Ginger Pennington
One Hat Research LLC and Northwestern University, Department of Psychology
Downloads 1,180 (32,978)
Citation 2

Abstract:

Loading...

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

How Active Management Survives

Financial Planning Review, Vol. 2, Issue 1, March 2019
Posted: 12 Nov 2019
J.B. Heaton and Ginger L. Pennington
One Hat Research LLC and University of Chicago - Booth School of Business

Abstract:

Loading...

9.

The Altman Z Score Does Not Predict Bankruptcy

AIRA Journal, 33(3), 2020.
Number of pages: 5 Posted: 27 Apr 2020 Last Revised: 27 Jan 2021
J.B. Heaton
One Hat Research LLC
Downloads 1,036 (40,248)
Citation 2

Abstract:

Loading...

Altman Z, bankruptcy prediction, market evidence

10.

Naked Shorting

Regulation, 2008
Number of pages: 6 Posted: 30 Apr 2007 Last Revised: 29 Mar 2021
Christopher L. Culp and J.B. Heaton
Johns Hopkins University - Institute for Applied Economics, Global Health, and Study of Business Enterprise and One Hat Research LLC
Downloads 1,035 (40,313)
Citation 5

Abstract:

Loading...

Naked Shorting, Short Selling, Manipulation

11.

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

47 Journal of Financial Transformation, 117-122 (2018).
Number of pages: 6 Posted: 08 Mar 2018 Last Revised: 31 Mar 2021
J.B. Heaton
One Hat Research LLC
Downloads 898 (49,182)
Citation 3

Abstract:

Loading...

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

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: 25 Mar 2021
Alon Brav and J.B. Heaton
Duke University - Fuqua School of Business and One Hat Research LLC
Downloads 779 (59,738)
Citation 5

Abstract:

Loading...

event studies, securities litigation

13.
Downloads 719 (66,425)

Deepening Insolvency

Number of pages: 30 Posted: 23 Nov 2004 Last Revised: 31 Mar 2021
J.B. Heaton
One Hat Research LLC
Downloads 719 (65,448)
Citation 1

Abstract:

Loading...

Deepening insolvency, costs of financial distress

Deepening Insolvency

Posted: 27 Apr 2005
J.B. Heaton
One Hat Research LLC

Abstract:

Loading...

Deepening insolvency

14.

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

Journal of Business, Entrepreneurship and the Law, Forthcoming
Number of pages: 25 Posted: 29 Oct 2016 Last Revised: 25 Mar 2021
Alon Brav, J.B. Heaton and Jonathan Zandberg
Duke University - Fuqua School of Business, One Hat Research LLC and Wharton School of the University of Pennsylvania
Downloads 638 (77,306)
Citation 7

Abstract:

Loading...

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

15.

Brown Assets for the Prudent Investor

12 HARV. BUS. REV. L. ONLINE, art. 2, 2021, at 1.
Number of pages: 23 Posted: 02 Aug 2021 Last Revised: 02 Mar 2022
Alon Brav and J.B. Heaton
Duke University - Fuqua School of Business and One Hat Research LLC
Downloads 587 (85,808)
Citation 3

Abstract:

Loading...

climate change, carbon risk, ESG, global warming

16.

Simple Insolvency Detection for Publicly-Traded Firms

Business Lawyer (Summer 2019)
Number of pages: 12 Posted: 16 Feb 2019 Last Revised: 08 Apr 2022
J.B. Heaton
One Hat Research LLC
Downloads 374 (146,935)
Citation 2

Abstract:

Loading...

17.

Corporate Governance and the Cult of Agency

Villanova Law Review, Forthcoming
Number of pages: 23 Posted: 10 Jul 2018 Last Revised: 25 Mar 2021
J.B. Heaton
One Hat Research LLC
Downloads 354 (156,100)
Citation 2

Abstract:

Loading...

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

18.

Bias-Corrected Estimation of Price Impact in Securities Litigation

American Law and Economics Review, forthcoming 2019.
Number of pages: 25 Posted: 31 Jan 2019 Last Revised: 08 May 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 One Hat Research LLC
Downloads 155 (345,950)
Citation 1

Abstract:

Loading...

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

19.

Market Indeterminacy

Number of pages: 36 Posted: 06 Oct 2003
Alon Brav and J.B. Heaton
Duke University - Fuqua School of Business and One Hat Research LLC
Downloads 132 (393,217)

Abstract:

Loading...

20.

Market Features for Corporate Bankruptcy Prediction

Number of pages: 20 Posted: 24 Feb 2024
J.B. Heaton
One Hat Research LLC
Downloads 46 (730,001)

Abstract:

Loading...

Financial distress, insolvency, machine learning, market efficiency

21.
Downloads 10

Abstract:

Loading...

22.

The Unfulfilled Promise of Hedge Fund Activism

Forthcoming, Virginia Law & Business Review
Posted: 19 Apr 2019 Last Revised: 22 Nov 2020
J.B. Heaton
One Hat Research LLC

Abstract:

Loading...

23.

Managerial Optimism: New Observations on the Unifying Theory

European Financial Management (2019)
Posted: 19 Apr 2019 Last Revised: 22 Nov 2020
J.B. Heaton
One Hat Research LLC

Abstract:

Loading...

behavioral corporate finance, managerial optimism, agency cost theory, asymmetric information theory, pay for performance

24.

Risk Aversion as Risk-Neutral Pessimism: A Simple Proof

International Review of Law and Economics, Forthcoming
Posted: 29 May 2018 Last Revised: 22 Nov 2020
J.B. Heaton
One Hat Research LLC

Abstract:

Loading...

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

25.

Overconfidence, Compensation Contracts, and Capital Budgeting

Journal of Finance, Vol. 66, No. 5, pp. 1725-77 (2011)
Posted: 07 Mar 2011 Last Revised: 22 Nov 2020
Simon Gervais, J.B. Heaton and Terrance Odean
Duke University - Fuqua School of Business, One Hat Research LLC and University of California, Berkeley - Haas School of Business

Abstract:

Loading...

overconfidence, capital budgeting, compensation, labor market