Andy Naranjo

University of Florida - Warrington College of Business Administration

Emerson-Merrill Lynch Associate Professor of Finance

P.O. Box 117168

Gainesville, FL 32611-7168

United States

  • University of Florida - Warrington College of Business Administration

    • Email
    • Tel: 352-392-3781
SCHOLARLY PAPERS

30

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78

CROSSREF CITATIONS

87

Scholarly Papers (30)

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1.

Capital Market Development, Integration, Legal Systems, and the Value of Corporate Diversification: A Cross-Country Analysis

Number of pages: 34 Posted: 31 Jul 2002
Larry Fauver, Joel F. Houston and Andy Naranjo
University of Tennessee, Knoxville - Department of Finance, University of Florida - Department of Finance, Insurance and Real Estate and University of Florida - Warrington College of Business Administration
Downloads 1,403 (27,517)
Citation 26

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2.

Commercial Real Estate Valuation: Fundamentals Versus Investor Sentiment

Downloads 1,194 (34,797)
Citation 6

Commercial Real Estate Valuation: Fundamentals Versus Investor Sentiment

Number of pages: 43 Posted: 15 May 2008
Jim Clayton, David C. Ling and Andy Naranjo
University of Connecticut School of Business, University of Florida - Warrington College of Business Administration and University of Florida - Warrington College of Business Administration
Downloads 1,194 (34,274)
Citation 6

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Sentiment measures, limits to arbitrage, principal components, error-correction

Commercial Real Estate Valuation: Fundamentals versus Investor Sentiment

Journal of Real Estate Finance and Economics, Vol. 38, No. 1, 2009
Posted: 14 Oct 2008
Jim Clayton, David C. Ling and Andy Naranjo
University of Connecticut School of Business, University of Florida - Warrington College of Business Administration and University of Florida - Warrington College of Business Administration

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investment, capitalization rates, asset pricing, investor rationality

3.

Corporate Socially Responsible Investments: CEO Altruism, Reputation, and Shareholder Interests

Borghesi, Richard, Joel Houston, and Andy Naranjo, 2014. Corporate Socially Responsible Investments: CEO Altruism, Reputation, and Shareholder Interests, Journal of Corporate Finance 26, 164-181.
Number of pages: 46 Posted: 08 Nov 2012 Last Revised: 02 Oct 2014
Richard Borghesi, Joel F. Houston and Andy Naranjo
University of South Florida, University of Florida - Department of Finance, Insurance and Real Estate and University of Florida - Warrington College of Business Administration
Downloads 938 (49,096)
Citation 31

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Corporate Social Responsibility, Corporate Governance, Media Coverage, Political Connections

4.

CDS Momentum: Slow Moving Credit Ratings and Cross-Market Spillovers

Number of pages: 63 Posted: 13 Apr 2014 Last Revised: 30 Jun 2021
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 807 (60,296)
Citation 17

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Credit default swaps; CDS returns; Credit ratings; Momentum; Spillover; Endogenous liquidity; Credit risk; Information flows

5.

REIT Leverage and Return Performance: Keep Your Eye on the Target

Downloads 593 (89,574)
Citation 4

REIT Leverage and Return Performance: Keep Your Eye on the Target

Number of pages: 45 Posted: 14 Sep 2015 Last Revised: 15 Aug 2016
Emanuela Giacomini, David C. Ling and Andy Naranjo
Department of Economics and Law - University of Macerata, University of Florida - Hough Graduate School of Business Administration and University of Florida - Warrington College of Business Administration
Downloads 446 (125,490)

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REITs, Leverage, Capital structure, Returns, Investment performance, Financial constraints, Distress, Crisis

REIT Leverage and Return Performance: Keep Your Eye on the Target

Number of pages: 45 Posted: 17 Aug 2016
Emanuela Giacomini, David C. Ling and Andy Naranjo
Department of Economics and Law - University of Macerata, University of Florida - Hough Graduate School of Business Administration and University of Florida - Warrington College of Business Administration
Downloads 147 (382,304)
Citation 1

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REITs, Leverage, Capital structure, Returns, Investment performance, Financial constraints, Distress, Crisis

6.

When do CDS Spreads Lead? Rating Events, Private Entities, and Firm-specific Information Flows

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 81 Posted: 31 Mar 2017 Last Revised: 01 Jun 2018
Jongsub Lee, Andy Naranjo and Guner Velioglu
Seoul National University, University of Florida - Warrington College of Business Administration and Loyola University Chicago - Department of Finance
Downloads 582 (91,737)
Citation 36

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CDS versus stocks and bonds, credit ratings, firm-specific credit information flow, lead-lag relations, private firms

7.

Borrowing Beyond Borders: The Geography and Pricing of Syndicated Bank Loans

Number of pages: 51 Posted: 12 Mar 2007
Joel F. Houston, Jennifer Itzkowitz and Andy Naranjo
University of Florida - Department of Finance, Insurance and Real Estate, Seton Hall University - Department of Finance & Legal Studies and University of Florida - Warrington College of Business Administration
Downloads 490 (113,393)
Citation 11

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Loan pricing, Global lending markets, Syndicated Loans

8.

Exodus from Sovereign Risk: Global Asset and Information Networks in the Pricing of Corporate Credit Risk

Downloads 477 (117,107)
Citation 13

Exodus from Sovereign Risk: Global Asset and Information Networks in the Pricing of Corporate Credit Risk

Journal of Finance, Forthcoming
Number of pages: 60 Posted: 25 Jul 2015
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 334 (174,207)

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International CDS markets, corporate credit risk, sovereign risk, country risk, multinational corporations, asset geographic location, cross-listing, property rights, creditor rights, disclosure requirements, sovereign ceiling violations

Exodus from Sovereign Risk: Global Asset and Information Networks in the Pricing of Corporate Credit Risk

Number of pages: 60 Posted: 02 Nov 2015 Last Revised: 03 Nov 2015
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 143 (390,944)
Citation 15

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International CDS markets, corporate credit risk, sovereign risk, multinational corporations, asset geographic location, cross-listing, property rights, creditor rights, disclosure requirements, sovereign ceiling violations

9.

The Effects of Purchases of Mortgages and Securitization by Government Sponsored Enterprises on Mortgage Yield Spreads and Volatility

Number of pages: 43 Posted: 10 May 2002
Andy Naranjo and Alden L. Toevs
University of Florida - Warrington College of Business Administration and First Manhattan Consulting Group
Downloads 467 (120,178)
Citation 31

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mortgage rents, mortgage volatility, government sponsored enterprises, conforming vs. non-conforming rates, vector error correction model, GARCH model

10.

Cross-Country Comovement of Momentum Returns

Number of pages: 48 Posted: 18 Mar 2004
Andy Naranjo and R. Burt Porter
University of Florida - Warrington College of Business Administration and Iowa State University
Downloads 448 (126,143)
Citation 5

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11.

Asset Opaqueness, Split Bond Ratings, and Rating Migration

Number of pages: 35 Posted: 02 Jun 2005
Miles Livingston, Andy Naranjo and Lei Zhou
University of Florida - Department of Finance, Insurance and Real Estate, University of Florida - Warrington College of Business Administration and Northern Illinois University - Department of Finance
Downloads 380 (152,413)
Citation 22

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bond rating, split rating, asset opaqueness, rating migration, rating change

12.

Going Abroad in a Risky World: Geographic Diversification, Institutional Frictions, and Corporate Leverage

Number of pages: 58 Posted: 02 Jun 2016 Last Revised: 07 Dec 2018
Jongsub Lee, Leming Lin and Andy Naranjo
Seoul National University, University of Pittsburgh - Katz Graduate School of Business and University of Florida - Warrington College of Business Administration
Downloads 342 (171,045)
Citation 1

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Multinational firms, MNCs, Corporate leverage, Geographic diversification, Cash flow volatility, Country risk, Tax, Regulatory frictions, Political risk

13.

Customer-base Concentration and the Transmission of Idiosyncratic Volatility along the Vertical Chain

Number of pages: 69 Posted: 28 Feb 2014 Last Revised: 22 Nov 2016
Atanas Mihov and Andy Naranjo
University of Kansas and University of Florida - Warrington College of Business Administration
Downloads 258 (229,323)
Citation 2

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Customer-base concentration; Idiosyncratic volatility; Stock return volatility; Firm risk profile; Network connections; Supply chain; Customer type

14.

The Exodus from Sovereign Risk: Sovereign Ceiling Violations in Credit Default Swap Markets

Number of pages: 69 Posted: 22 Mar 2013 Last Revised: 09 May 2013
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 242 (244,274)
Citation 4

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Credit default swap, sovereign ceiling, transfer and convertibility risk, asset geographic location, cross-listing, property rights, creditor rights, disclosure requirement, credit rating

15.

There's No Place Like Home: Information Asymmetries, Local Asset Concentration, and Portfolio Returns

Number of pages: 49 Posted: 13 Mar 2017 Last Revised: 01 Mar 2018
David C. Ling, Andy Naranjo and Benjamin Scheick
University of Florida - Warrington College of Business Administration, University of Florida - Warrington College of Business Administration and Villanova University - Department of Finance
Downloads 210 (279,442)
Citation 12

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Asset Concentration, Information Asymmetry, Home Bias, Location, Real Estate Returns

16.

Borrowing Beyond Borders: Foreign Assets, Lender Choice, and Loan Pricing in the Syndicated Bank Loan Market

Journal of Corporate Finance, Vol. 42, 2017
Number of pages: 46 Posted: 09 May 2014 Last Revised: 19 Jun 2019
Joel F. Houston, Jennifer Itzkowitz and Andy Naranjo
University of Florida - Department of Finance, Insurance and Real Estate, Seton Hall University - Department of Finance & Legal Studies and University of Florida - Warrington College of Business Administration
Downloads 201 (290,944)
Citation 6

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Syndicated loans, multinational firms, lead lender, loan pricing, geography, foreign assets, FDI, integration, international banking

17.

Asset Location, Timing Ability, and the Cross-Section of Commercial Real Estate Returns

Number of pages: 53 Posted: 05 Jan 2017 Last Revised: 05 May 2018
David C. Ling, Andy Naranjo and Benjamin Scheick
University of Florida - Warrington College of Business Administration, University of Florida - Warrington College of Business Administration and Villanova University - Department of Finance
Downloads 154 (367,505)
Citation 13

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real estate investment trusts, private commercial real estate, asset location, market timing, portfolio allocation, return performance

18.

Internet Appendix for 'Exodus from Sovereign Risk: Global Asset and Information Networks in the Pricing of Corporate Credit Risk'

Downloads 135 (408,229)

Internet Appendix for 'Exodus from Sovereign Risk: Global Asset and Information Networks in the Pricing of Corporate Credit Risk'

Number of pages: 61 Posted: 02 Nov 2015 Last Revised: 03 Nov 2015
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 85 (572,163)

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International CDS markets, corporate credit risk, sovereign risk, multinational corporations, asset geographic location, cross-listing, property rights, creditor rights, disclosure requirements, sovereign ceiling violations

Internet Appendix for 'Exodus from Sovereign Risk: Global Asset and Information Networks in the Pricing of Corporate Credit Risk'

Journal of Finance, Forthcoming
Number of pages: 61 Posted: 28 Jul 2015
Jongsub Lee, Andy Naranjo and Stace Sirmans
Seoul National University, University of Florida - Warrington College of Business Administration and Auburn University
Downloads 50 (757,001)

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International CDS markets, corporate credit risk, sovereign risk, country risk, multinational corporations, asset geographic location, cross-listing, property rights, creditor rights, disclosure requirements, sovereign ceiling violations

19.

Value, Survival, and the Evolution of Firm Organizational Structure

Financial Management 36(3), 5-31, 2006
Number of pages: 39 Posted: 21 Sep 2012
Richard Borghesi, Joel F. Houston and Andy Naranjo
University of South Florida, University of Florida - Department of Finance, Insurance and Real Estate and University of Florida - Warrington College of Business Administration
Downloads 123 (438,647)
Citation 1

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Diversification, Firm Evolution, Survival

20.

MSA Geographic Allocations, Property Selection, and Performance Attribution in Public and Private Real Estate Markets

Number of pages: 43 Posted: 16 Sep 2015
David C. Ling, Andy Naranjo and Benjamin Scheick
University of Florida - Hough Graduate School of Business Administration, University of Florida - Warrington College of Business Administration and Villanova University - Department of Finance
Downloads 118 (452,441)

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real estate investment trusts, private commercial real estate, return performance, portfolio allocation and selection

21.

Leverage and Returns: A Cross-Country Analysis of Public Real Estate Markets

Journal of Real Estate Finance and Economics, Vol. 51, No. 2, 2015
Posted: 26 Aug 2015
Andy Naranjo, David C. Ling and Emanuela Giacomini
University of Florida - Warrington College of Business Administration, University of Florida - Hough Graduate School of Business Administration and Department of Economics and Law - University of Macerata

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Asset returns; Leverage; REITs; Cross-country real estate returns; Financial constraints; Crisis

22.

Returns and Information Transmission Dynamics in Public and Private Real Estate Markets

Real Estate Economics, Forthcoming
Posted: 07 Feb 2014
David C. Ling and Andy Naranjo
University of Florida - Hough Graduate School of Business Administration and University of Florida - Warrington College of Business Administration

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real estate investment trusts, private commercial real estate, return performance, return volatility, information transmission

23.

Investor Sentiment, Limits to Arbitrage, and Private Market Returns

Real Estate Economics, Forthcoming
Posted: 04 Jan 2013
David C. Ling, Andy Naranjo and Benjamin Scheick
University of Florida - Hough Graduate School of Business Administration, University of Florida - Warrington College of Business Administration and Villanova University - Department of Finance

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investor sentiment, arbitrage, private markets

24.

Real Estate Ownership, Leasing Intensity, and Value: Do Stock Returns Reflect a Firm's Real Estate Holdings?

Journal of Real Estate Finance and Economics, Vol. 44, Nos. 1/2, 2012
Posted: 26 Jan 2012
David C. Ling, Andy Naranjo and Michael D. Ryngaert
University of Florida - Warrington College of Business Administration, University of Florida - Warrington College of Business Administration and University of Florida - Department of Finance, Insurance and Real Estate

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Leasing, Real estate exposure, Off-balance sheet financing, Real estate risk

25.

Investor Sentiment and Asset Pricing in Public and Private Markets

46th Annual AREUEA Conference Paper
Posted: 01 Dec 2010
David C. Ling, Andy Naranjo and Benjamin Scheick
University of Florida - Hough Graduate School of Business Administration, University of Florida - Warrington College of Business Administration and Villanova University - Department of Finance

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26.

Dedicated REIT Mutual Fund Flows and REIT Performance

Journal of Real Estate Finance and Economics, Vol. 32, No. 4, 2006
Posted: 11 Oct 2005
David C. Ling and Andy Naranjo
University of Florida - Warrington College of Business Administration and University of Florida - Warrington College of Business Administration

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27.

Commercial Real Estate Return Performance: A Cross-Country Analysis

Posted: 17 May 2002
David C. Ling and Andy Naranjo
University of Florida - Warrington College of Business Administration and University of Florida - Warrington College of Business Administration

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real estate return performance, risk-adjusted real estate returns, international real estate returns, international asset pricing

28.

The Predictability of Equity REIT Returns: Time Variation and Economic Significance

Posted: 14 Dec 1999
David C. Ling, Michael D. Ryngaert and Andy Naranjo
University of Florida - Warrington College of Business Administration, University of Florida - Department of Finance, Insurance and Real Estate and University of Florida - Warrington College of Business Administration

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29.

Government Intervention and Adverse Selection Costs in Foreign Exchange Markets

Posted: 08 Dec 1999
Mahendrarajah Nimalendran and Andy Naranjo
University of Florida - Department of Finance, Insurance and Real Estate and University of Florida - Warrington College of Business Administration

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30.

Economic Risk Factors and Commercial Real Estate Returns

Downloads 0 (1,212,175)

Economic Risk Factors and Commercial Real Estate Returns

J. OF REAL ESTATE FINANCE AND ECONOMICS, Vol. 14 No. 3
Posted: 14 Mar 1997
David C. Ling and Andy Naranjo
University of Florida - Warrington College of Business Administration and University of Florida - Warrington College of Business Administration

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Economic Risk Factors and Commercial Real Estate Returns

Posted: 29 Mar 1996
David C. Ling and Andy Naranjo
University of Florida - Warrington College of Business Administration and University of Florida - Warrington College of Business Administration

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