Alok Kumar

University of Miami - School of Business Administration

Gabelli Asset Management Professor of Finance

514 Jenkins Building

Department of Finance

Coral Gables, FL 33124-6552

United States

http://moya.bus.miami.edu/~akumar

SCHOLARLY PAPERS

77

DOWNLOADS
Rank 177

SSRN RANKINGS

Top 177

in Total Papers Downloads

63,520

CITATIONS
Rank 647

SSRN RANKINGS

Top 647

in Total Papers Citations

773

Scholarly Papers (77)

The Dow Theory: William Peter Hamilton's Track Record Re-Considered

Number of pages: 46 Posted: 11 Feb 1998
New York University - Stern School of Business, University of Miami - School of Business Administration and Yale School of Management - International Center for Finance
Downloads 12,645 (255)
Citation 24

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2.
Downloads 3,588 ( 2,518)
Citation 124

Equity Portfolio Diversification

Number of pages: 40 Posted: 06 Dec 2004 Last Revised: 12 Mar 2008
Alok Kumar and William N. Goetzmann
University of Miami - School of Business Administration and Yale School of Management - International Center for Finance
Downloads 3,311 (2,844)
Citation 124

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Individual investors, diversification, over-confidence, trend-following behavior, local bias.

Equity Portfolio Diversification

NBER Working Paper No. w8686
Number of pages: 45 Posted: 20 Dec 2001 Last Revised: 26 Oct 2010
Alok Kumar and William N. Goetzmann
University of Miami - School of Business Administration and Yale School of Management - International Center for Finance
Downloads 277 (104,587)
Citation 124

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Equity Portfolio Diversification

Review of Finance, Forthcoming
Posted: 14 Jan 2008
William N. Goetzmann and Alok Kumar
Yale School of Management - International Center for Finance and University of Miami - School of Business Administration

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Individual investors, diversification, local bias, over-confidence, trend-following behavior

Equity Portfolio Diversification

Review of Finance, Vol. 12, No. 3, pp. 433-463, 2008
Posted: 08 Aug 2008
William N. Goetzmann and Alok Kumar
Yale School of Management - International Center for Finance and University of Miami - School of Business Administration

Abstract:

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G11, G12

3.

Do Older Investors Make Better Investment Decisions?

Review of Economics and Statistics, Forthcoming
Number of pages: 65 Posted: 20 Mar 2006 Last Revised: 11 Jul 2009
George M. Korniotis and Alok Kumar
University of Miami and University of Miami - School of Business Administration
Downloads 3,114 (3,216)
Citation 26

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Older individual investors, cognitive aging, investment experience, learning, rules of thumb, investment skill

4.

Behavioral Biases of Mutual Fund Investors

Journal of Financial Economics (JFE), Forthcoming, AFA 2009 San Francisco Meetings Paper
Number of pages: 69 Posted: 20 Mar 2008 Last Revised: 19 Jul 2010
Warren Bailey, Alok Kumar and David T. Ng
Cornell University, University of Miami - School of Business Administration and Cornell University
Downloads 2,215 (5,726)
Citation 18

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Individual investors, behavioral biases, disposition effect, narrow framing, mutual fund investments

5.

Religious Beliefs, Gambling Attitudes, and Financial Market Outcomes

EFA 2009 Bergen Meetings Paper, Journal of Financial Economics (JFE), Forthcoming
Number of pages: 82 Posted: 31 Jan 2009 Last Revised: 04 Apr 2011
University of Miami - School of Business Administration, Brigham Young University and Tilburg University - Department of Finance
Downloads 1,871 (7,640)
Citation 22

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6.
Downloads 1,867 ( 7,671)
Citation 94

Who Gambles in the Stock Market?

AFA 2006 Boston Meetings Paper, Journal of Finance, Forthcoming, EFA 2005 Moscow Meetings Paper
Number of pages: 53 Posted: 15 Mar 2005 Last Revised: 06 Sep 2008
Alok Kumar
University of Miami - School of Business Administration
Downloads 1,658 (9,165)
Citation 94

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Individual investors, lottery-type stocks, skewness preference, gambling

Who Gambles in the Stock Market?

Journal of Finance, Forthcoming
Number of pages: 53 Posted: 05 Sep 2008
Alok Kumar
University of Miami - School of Business Administration
Downloads 209 (139,333)
Citation 94

Abstract:

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7.

Political Climate, Optimism, and Investment Decisions

AFA 2012 Chicago Meetings Paper
Number of pages: 40 Posted: 21 Nov 2009 Last Revised: 20 Apr 2012
University of Colorado at Denver - Department of Finance, University of Miami - School of Business Administration and Brigham Young University
Downloads 1,791 (8,237)
Citation 6

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Do the Diversification Choices of Individual Investors Influence Stock Returns?

McCombs Research Paper Series No. FIN-06-06
Number of pages: 37 Posted: 10 Feb 2005 Last Revised: 21 Jul 2008
Alok Kumar
University of Miami - School of Business Administration
Downloads 1,451 (11,362)
Citation 4

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Individual investors, Under-diversification, Narrow risk framing, Investor sentiment, Information asymmetry, Asset pricing, Arbitrage costs

Do the Diversification Choices of Individual Investors Influence Stock Returns?

Journal of Financial Markets, Forthcoming
Number of pages: 36 Posted: 11 Sep 2007
Alok Kumar
University of Miami - School of Business Administration
Downloads 113 (234,897)
Citation 4

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9.

Confirmation Bias, Overconfidence, and Investment Performance: Evidence from Stock Message Boards

McCombs Research Paper Series No. IROM-07-10
Number of pages: 59 Posted: 14 Jul 2010 Last Revised: 08 Oct 2010
University of Texas at Austin - Red McCombs School of Business, University of Texas at Austin - Department of Information, Risk and Operations Management, Arizona State University (ASU) - Department of Information Systems, University of Miami - School of Business Administration and University of Texas at Austin - Red McCombs School of Business
Downloads 1,532 (10,620)
Citation 1

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Confirmation Bias, Overconfidence, Investment Decisions, Korean Individual Investors, Virtual Communities, Stock Message Boards

10.

Corporate Policies of Republican Managers

AFA 2011 Denver Meetings Paper, Journal of Financial and Quantitative Analysis (JFQA), 2014, 49(5/6), 1279-1310
Number of pages: 76 Posted: 17 Mar 2010 Last Revised: 14 Apr 2015
Irena Hutton, Danling Jiang and Alok Kumar
Florida State University - College of Business, College of Business, Stony Brook University and University of Miami - School of Business Administration
Downloads 1,378 (12,606)
Citation 13

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Political values, financial conservatism, corporate culture, capital structure, dividend policy, investments

How Do Decision Frames Influence the Stock Investment Choices of Individual Investors?

EFA 2005 Moscow Meetings
Number of pages: 31 Posted: 07 Aug 2005
Sonya S. Lim and Alok Kumar
DePaul University - Department of Finance and University of Miami - School of Business Administration
Downloads 1,376 (12,376)
Citation 13

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Narrow framing, trade clustering, disposition effect, portfolio diversification, prospect theory

How Do Decision Frames Influence the Stock Investment Choices of Individual Investors?

Management Science, Forthcoming
Posted: 14 Jan 2008
Sonya S. Lim and Alok Kumar
DePaul University - Department of Finance and University of Miami - School of Business Administration

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Narrow framing, trade clustering, disposition effect, portfolio diversification, prospect theory

12.

Do Dividend Clienteles Exist? Evidence on Dividend Preferences of Retail Investors

Number of pages: 37 Posted: 02 Jan 2004
John R. Graham and Alok Kumar
Duke University and University of Miami - School of Business Administration
Downloads 1,286 (14,030)
Citation 74

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Retail investors, Dividend clienteles, Dividend events, Dividend taxation, Attention hypothesis

13.

Retail Investor Sentiment and Return Comovements

Number of pages: 48 Posted: 17 Feb 2004
Alok Kumar and Charles M.C. Lee
University of Miami - School of Business Administration and Stanford University - Graduate School of Business
Downloads 1,217 (15,280)
Citation 117

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Correlated trading, Retail sentiment, Habitat-based comovement, Arbitrage costs

14.

State-Level Business Cycles and Local Return Predictability

Journal of Finance, Forthcoming
Number of pages: 89 Posted: 19 Feb 2008 Last Revised: 20 Apr 2012
George M. Korniotis and Alok Kumar
University of Miami and University of Miami - School of Business Administration
Downloads 1,195 (15,735)
Citation 16

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15.

What is in a Name? Mutual Fund Flows When Managers Have Foreign-Sounding Names

Review of Financial Studies, Forthcoming
Number of pages: 56 Posted: 02 Nov 2011 Last Revised: 10 Jan 2015
University of Miami - School of Business Administration, University of Mannheim - Department of Finance and Tilburg University - Department of Finance
Downloads 1,132 (17,056)
Citation 4

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16.

Do Portfolio Distortions Reflect Superior Information or Psychological Biases?

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 80 Posted: 20 Jul 2009 Last Revised: 20 Apr 2012
George M. Korniotis and Alok Kumar
University of Miami and University of Miami - School of Business Administration
Downloads 1,120 (17,330)
Citation 12

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Individual investors, cognitive abilities, behavioral biases, diversification, active trading, local bias

17.

Political Sentiment and Predictable Returns

Number of pages: 72 Posted: 02 Nov 2012 Last Revised: 01 Mar 2016
Jawad M. Addoum and Alok Kumar
Cornell University and University of Miami - School of Business Administration
Downloads 1,024 (19,792)

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18.

Daily Winners and Losers

Number of pages: 74 Posted: 14 Mar 2017 Last Revised: 18 Jan 2018
University of Miami - School of Business Administration, University of Mannheim - Department of International Finance and Aalto University School of Business
Downloads 1,018 (19,998)

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Investor Attention, Stock Rankings, Retail Investors, Idiosyncratic Volatility Puzzle

The Idiosyncratic Volatility Puzzle: Time Trend or Speculative Episodes?

McCombs Research Paper Series No. FIN-02-09
Number of pages: 57 Posted: 09 Jun 2008 Last Revised: 18 Jan 2009
Duke University - Fuqua School of Business, Duke University - Fuqua School of Business, Duke University and University of Miami - School of Business Administration
Downloads 999 (20,239)
Citation 65

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Idiosyncratic volatility, stock market bubbles, retail investors, speculation, stock splits

The Idiosyncratic Volatility Puzzle: Time Trend or Speculative Episodes?

The Review of Financial Studies, Vol. 23, Issue 2, pp. 863-899, 2009
Posted: 01 Feb 2010
Duke University - Fuqua School of Business, Duke University - Fuqua School of Business, Duke University and University of Miami - School of Business Administration

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G11, G12, G14

20.

Stature, Obesity, and Portfolio Choice

Number of pages: 61 Posted: 21 Nov 2009 Last Revised: 17 Jul 2015
Cornell University, University of Miami and University of Miami - School of Business Administration
Downloads 912 (23,528)
Citation 3

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21.

Speculative Retail Trading and Asset Prices

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 52 Posted: 02 Apr 2009 Last Revised: 20 Apr 2012
Bing Han and Alok Kumar
University of Toronto, Rotman School of Management and University of Miami - School of Business Administration
Downloads 909 (23,636)
Citation 10

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22.

Weather-Induced Mood, Institutional Investors, and Stock Returns

Number of pages: 56 Posted: 13 Sep 2013 Last Revised: 25 Oct 2014
Yale School of Management - International Center for Finance, Office of Financial Research, US Department of the Treasury, University of Miami - School of Business Administration and Oklahoma State University - Tulsa
Downloads 842 (26,440)
Citation 2

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23.

Political Values, Culture, and Corporate Litigation

Management Science, 2015, 61(12): 2905-2925.
Number of pages: 67 Posted: 04 Mar 2012 Last Revised: 18 Dec 2015
Irena Hutton, Danling Jiang and Alok Kumar
Florida State University - College of Business, College of Business, Stony Brook University and University of Miami - School of Business Administration
Downloads 841 (26,480)
Citation 1

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Political values, culture, litigation, managerial misconduct, Corporate Misconduct

24.

Slow Diffusion of State-Level Information and Return Predictability

Number of pages: 114 Posted: 21 Oct 2013 Last Revised: 26 Nov 2017
Jawad M. Addoum, Alok Kumar and Kelvin Law
Cornell University, University of Miami - School of Business Administration and Nanyang Technological University (NTU)
Downloads 830 (26,997)

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Geographic connections, information diffusion, sell-side analysts, institutional investors, earnings and return predictability

25.

Political Contributions and Analyst Behavior

Review of Accounting Studies, 2016, 21(1): 37-88
Number of pages: 57 Posted: 03 Oct 2010 Last Revised: 08 Mar 2016
Danling Jiang, Alok Kumar and Kelvin Law
College of Business, Stony Brook University, University of Miami - School of Business Administration and Nanyang Technological University (NTU)
Downloads 782 (29,284)
Citation 1

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Equity Analysts, Political Contribution, Conservative Analysts, Forecasting Style, Market Reaction

26.

Local Investors and Corporate Governance

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 49 Posted: 21 Nov 2009 Last Revised: 20 Apr 2012
University of Miami - Department of Finance, University of Mannheim - Department of Finance and University of Miami - School of Business Administration
Downloads 765 (30,161)
Citation 6

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Hard-to-Value Stocks, Behavioral Biases, and Informed Trading

Number of pages: 38 Posted: 23 May 2006 Last Revised: 13 Mar 2008
Alok Kumar
University of Miami - School of Business Administration
Downloads 750 (30,545)
Citation 36

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Hard-to-Value Stocks, Behavioral Biases, and Informed Trading

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Posted: 14 Mar 2008
Alok Kumar
University of Miami - School of Business Administration

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28.

Foreign Investments of U'S' Individual Investors: Causes and Consequences

AFA 2007 Chicago Meetings Paper
Number of pages: 33 Posted: 03 Jan 2005
Warren Bailey, Alok Kumar and David T. Ng
Cornell University, University of Miami - School of Business Administration and Cornell University
Downloads 694 (34,467)
Citation 19

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Individual investors, diversification, home bias, local bias, over-confidence

29.

Gambling and Comovement

Number of pages: 49 Posted: 18 Dec 2010 Last Revised: 19 Oct 2013
University of Miami - School of Business Administration, Brigham Young University and Tilburg University - Department of Finance
Downloads 670 (36,160)
Citation 1

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30.

Home Away From Home: Geography of Information and Local Investors

26th Australasian Finance and Banking Conference 2013, AFA 2012 Chicago Meetings Paper, 14th Annual Conference of Financial Economics and Accounting 2011
Number of pages: 69 Posted: 21 Nov 2010 Last Revised: 12 Nov 2013
University of Miami - Department of Finance, University of Miami - School of Business Administration and National University of Singapore (NUS) - Department of Finance
Downloads 664 (36,586)
Citation 2

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Multi-Dimensional Firm Location, Information Asymmetry, Local Informational Advantage

Dynamic Style Preferences of Individual Investors and Stock Returns

Number of pages: 52 Posted: 09 May 2005 Last Revised: 14 Jul 2008
Alok Kumar
University of Miami - School of Business Administration
Downloads 345 (81,950)
Citation 11

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Dynamic Style Preferences of Individual Investors and Stock Returns

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 50 Posted: 11 Sep 2007
Alok Kumar
University of Miami - School of Business Administration
Downloads 311 (92,287)
Citation 11

Abstract:

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32.

Investor Sentiment and Return Comovements: Evidence from Stock Splits and Headquarters Changes

Review of Finance, Forthcoming
Number of pages: 47 Posted: 12 Dec 2010 Last Revised: 20 Apr 2012
University of Miami - School of Business Administration, Brigham Young University and Tilburg University - Department of Finance
Downloads 562 (45,567)
Citation 3

Abstract:

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33.

Geography of Firms and Propagation of Local Economic Shocks

Number of pages: 68 Posted: 22 May 2012 Last Revised: 04 Dec 2017
University of Miami - Department of Finance, University of Miami - Department of Finance, University of Miami and University of Miami - School of Business Administration
Downloads 548 (47,048)
Citation 2

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Economic networks, 10-K filings, U.S. states, Gross State Product (GSP), predictability

34.

In-Group Bias in Financial Markets

Number of pages: 44 Posted: 13 Dec 2016 Last Revised: 14 Jul 2018
University of Missouri-Columbia, University of Miami - School of Business Administration, University of Mannheim - Department of Finance and University of Michigan at Ann Arbor - Department of Economics
Downloads 536 (48,359)

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Ingroup Bias, Analyst Forecasts

35.

Network Analysis of Search Dynamics: The Case of Stock Habitats

Management Science, Forthcoming
Number of pages: 49 Posted: 07 Apr 2013 Last Revised: 25 Jan 2016
City University of Hong Kong (CityUHK) - Department of Information Systems, University of Texas at Austin - Red McCombs School of Business, University of Texas at Austin - Department of Information, Risk and Operations Management and University of Miami - School of Business Administration
Downloads 529 (49,212)

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Online Search, Correlated Search, User Attention, Network Analysis, Comovement, Investment Habitats, Stock Returns

36.

An Analyst by Any Other Surname: Surname Favorability and Market Reaction to Analyst Forecasts

Journal of Accounting and Economics (JAE), Forthcoming
Number of pages: 74 Posted: 27 Aug 2016 Last Revised: 21 Feb 2019
City, University of London - Cass Business School, University of Miami - School of Business Administration, DePaul University - Department of Finance and KAIST College of Business
Downloads 504 (52,323)

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Equity analyst, surname favorability, earnings forecast, market reaction, motivated reasoning

37.

Under-Reaction to Political Information and Price Momentum

University of Miami Legal Studies Research Paper No. 18-4
Number of pages: 51 Posted: 17 Apr 2014 Last Revised: 10 Oct 2018
Cornell University, University of Miami - Department of Finance, University of South Carolina and University of Miami - School of Business Administration
Downloads 485 (54,862)

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Price momentum, political climate, market underreaction, trading strategies

38.

Searching for Gambles: Gambling Sentiment and Stock Market Outcomes

Number of pages: 55 Posted: 25 Jul 2015 Last Revised: 13 Dec 2018
Yao Chen, Alok Kumar and Chendi Zhang
Cardiff University - Cardiff Business School, University of Miami - School of Business Administration and University of Warwick - Finance Group
Downloads 444 (61,299)

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Gambling sentiment; lottery-type stocks; investor attention; catering; stock splits; IPO first-day return

39.

Do Behavioral Biases Adversely Affect the Macro-Economy?

Review of Financial Studies, Forthcoming
Number of pages: 72 Posted: 11 Aug 2008 Last Revised: 17 Sep 2010
George M. Korniotis and Alok Kumar
University of Miami and University of Miami - School of Business Administration
Downloads 434 (63,006)
Citation 9

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Risk sharing, income risk, financial markets, cognitive abilities, behavioral biases, investor sophistication

40.

Investor Clienteles and Habitat-Based Return Comovements

AFA 2011 Denver Meetings Paper
Number of pages: 66 Posted: 27 Aug 2009 Last Revised: 15 Apr 2010
University of Miami - School of Business Administration, Brigham Young University and Tilburg University - Department of Finance
Downloads 433 (63,162)
Citation 3

Abstract:

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41.

Investor Sophistication and Asset Prices

Number of pages: 55 Posted: 10 Dec 2012 Last Revised: 19 Jul 2017
University of Miami, University of Miami - School of Business Administration and Brigham Young University
Downloads 431 (63,538)

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Local return predictability, return comovement, trading correlation, investor sophistication, risk sharing, local bias, state portfolios

42.

Analysts, Macroeconomic News, and the Benefit of Active In-House Economists

Number of pages: 50 Posted: 12 Apr 2013 Last Revised: 24 Jul 2015
Artur Hugon, Alok Kumar and An-Ping Lin
Arizona State University (ASU), University of Miami - School of Business Administration and Singapore Management University - School of Accountancy
Downloads 430 (63,717)

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Sell-side analyst, macroeconomist, GDP, price efficiency

Political Activism, Information Costs, and Stock Market Participation

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 73 Posted: 27 Mar 2011 Last Revised: 05 Jun 2012
Yosef Bonaparte and Alok Kumar
University of Colorado at Denver - Department of Finance and University of Miami - School of Business Administration
Downloads 417 (65,508)

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Stock market participation, political activism, information costs, individual investors, geographic instruments.

Political Involvement, Information Costs, and Stock Market Participation

Number of pages: 52 Posted: 19 Mar 2011
Alok Kumar and Yosef Bonaparte
University of Miami - School of Business Administration and University of Colorado at Denver - Department of Finance
Downloads 3 (627,551)

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Investment decisions, stock market participation, political involvement, information costs, individual investors

44.

Mood, Firm Behavior, and Aggregate Economic Outcomes

Number of pages: 66 Posted: 25 Mar 2015 Last Revised: 18 Oct 2018
University of Miami - Department of Finance, Office of Financial Research, US Department of the Treasury, University of Miami and University of Miami - School of Business Administration
Downloads 388 (71,994)

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Cloud cover, mood, small business managers, firm investment behavior, managerial optimism, state-level business cycles

45.

Terrorist Attacks, Managerial Sentiment, and Corporate Policies

Number of pages: 54 Posted: 21 Feb 2015 Last Revised: 27 Feb 2017
University of Warwick - Warwick Business School, University of Miami - School of Business Administration and University of Miami - School of Business Administration
Downloads 382 (73,382)

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Terrorist attacks, mass shootings, managerial sentiment, corporate policies, media coverage, firm location.

46.

Local Business Cycles and Local Liquidity

Number of pages: 53 Posted: 07 May 2012 Last Revised: 05 Dec 2013
University of Miami - Department of Finance, University of Miami, University of Miami - School of Business Administration and Oklahoma State University - Tulsa
Downloads 381 (73,614)
Citation 11

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Geographical market segmentation, local business cycles, local liquidity, local bias, state portfolios, return predictability

47.

Why the Going-Concern Anomaly: Gambling in the Market?

Number of pages: 58 Posted: 13 Apr 2013
Asad Kausar, Alok Kumar and Richard Taffler
American University - Kogod School of Business, University of Miami - School of Business Administration and University of Warwick - Finance Group
Downloads 377 (74,495)
Citation 4

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Audit report, market underreaction, retail investors, lottery-type stocks, gambling

48.

Terrorist Attacks, Analyst Sentiment, and Earnings Forecasts

Number of pages: 48 Posted: 13 Dec 2015 Last Revised: 26 Apr 2018
University of Warwick - Warwick Business School, University of Miami - School of Business Administration and University of Miami - School of Business Administration
Downloads 366 (77,103)

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Analyst sentiment, forecast bias, forecast accuracy, extreme events.

49.

Income Hedging and Portfolio Decisions

Number of pages: 70 Posted: 09 Nov 2012 Last Revised: 31 Jul 2013
University of Colorado at Denver - Department of Finance, University of Miami and University of Miami - School of Business Administration
Downloads 362 (78,099)
Citation 2

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income hedging, market participation, asset allocation, household finance

50.

Prozac for Depressed States? Effect of Mood on Local Economic Recessions

Number of pages: 56 Posted: 19 Apr 2011 Last Revised: 15 Jul 2017
University of Miami - Department of Finance, University of Miami and University of Miami - School of Business Administration
Downloads 362 (78,099)
Citation 2

Abstract:

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51.

Skewness Preference and Market Anomalies

Number of pages: 61 Posted: 06 May 2018 Last Revised: 22 Jul 2018
University of Miami - School of Business Administration, University of Warwick - Finance Group and University of Warwick - Finance Group
Downloads 339 (84,294)

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Anomalies, commonality, skewness preference, mispricing, trading strategies

52.

Deviations From Norms and Informed Trading

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 62 Posted: 21 Mar 2011 Last Revised: 16 Oct 2012
Alok Kumar and Jeremy K. Page
University of Miami - School of Business Administration and Brigham Young University
Downloads 326 (88,064)
Citation 2

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Institutional investors, informed trading, investor tastes, skewness, gambling, sin stocks, social norms

53.

If You Show It, They Will Use It: The 'CAPM Heuristic' and Mutual Fund Allocation Decisions

8th Miami Behavioral Finance Conference 2017
Number of pages: 55 Posted: 15 Nov 2016 Last Revised: 27 Dec 2018
University of Miami, University of Miami - School of Business Administration, University of Miami - Department of Finance and University of Melbourne - Department of Finance
Downloads 239 (122,535)

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Limited attention, mutual fund flows, sector funds, information acquisition

54.

Local Bankruptcy and Geographic Contagion in the Bank Loan Market

Number of pages: 63 Posted: 29 Jul 2015 Last Revised: 21 Feb 2019
Cornell University, University of Miami - School of Business Administration, Australian National University and University of Mannheim - Department of Finance
Downloads 238 (123,076)

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Corporate bankruptcy; geographic contagion; bank loans

55.

Income Hedging, Dynamic Style Preferences, and Return Predictability

Journal of Finance, Forthcoming, University of Miami Business School Research Paper No. 18-8
Number of pages: 91 Posted: 04 May 2014 Last Revised: 10 Oct 2018
Cornell University, University of Miami - Department of Finance, University of Miami and University of Miami - School of Business Administration
Downloads 233 (125,682)
Citation 1

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Income hedging, hedging demand, value factor, state-level income risk, style investing, return predictability

56.

Skewness, Fund Flows, and Hedge Fund Performance

Number of pages: 45 Posted: 12 Jun 2014 Last Revised: 29 Feb 2016
University of Miami - Department of Finance, University College Cork and University of Miami - School of Business Administration
Downloads 196 (148,316)

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Performance measurement, hedge funds, return skewness, performance persistence

57.

Short Selling Before Initial Public Offerings

WBS Finance Group Research Paper Series
Number of pages: 38 Posted: 27 Jun 2015 Last Revised: 21 Mar 2017
Linquan Chen, Alok Kumar and Chendi Zhang
University of Exeter, University of Miami - School of Business Administration and University of Warwick - Finance Group
Downloads 190 (152,666)

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IPO underpricing; two-stage offering; short selling; IPO long-run performance

58.

Social Risk and Portfolio Choice

7th Miami Behavioral Finance Conference 2016
Number of pages: 82 Posted: 03 Nov 2016 Last Revised: 05 Dec 2018
University of Miami, University of Colorado at Denver - Department of Finance, University of Miami and University of Miami - School of Business Administration
Downloads 183 (157,891)

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Stock market participation, asset allocation, income risk, subjective probabilities, household finance

59.

Contagious Negative Sentiment and Corporate Policies: Evidence from Local Bankruptcy Filings

Paris December 2014 Finance Meeting EUROFIDAI - AFFI Paper
Number of pages: 47 Posted: 04 Sep 2014
Jawad M. Addoum, Alok Kumar and Nhan Le
Cornell University, University of Miami - School of Business Administration and Australian National University
Downloads 182 (158,657)

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Local bankruptcy, Corporate policies

60.

Bankruptcy Sells Stocks… But Who's Buying (and Why)?

Number of pages: 62 Posted: 24 Apr 2014
University of Algarve, New York University (NYU) - Department of Finance, University of Miami - School of Business Administration and University of Warwick - Finance Group
Downloads 181 (159,460)

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Post-Chapter 11 trading, gambling, lottery-like stocks, retail investors, limits to arbitrage, market under-reaction

61.

Geography, Diversity, and Accuracy of Crowdsourced Earnings Forecasts

Number of pages: 61 Posted: 18 Mar 2015 Last Revised: 06 Oct 2016
University of San Diego, University of San Diego and University of Miami - School of Business Administration
Downloads 174 (165,098)

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Crowdsourcing, crowd diversity, local bias, analysts, earnings forecasts, forecast accuracy

62.

Dividend Sentiment, Catering Incentives, and Return Predictability

WBS Finance Group Research Paper 2875114
Number of pages: 63 Posted: 26 Nov 2016 Last Revised: 27 Dec 2018
Alok Kumar, Zicheng Lei and Chendi Zhang
University of Miami - School of Business Administration, University of Surrey - Finance and Accounting Group and University of Warwick - Finance Group
Downloads 172 (166,820)

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Dividend catering; investor attention; Internet search volume; dividend sentiment; return predictability.

63.

Has Local Informational Advantage Disappeared?

Number of pages: 47 Posted: 30 Apr 2016 Last Revised: 13 Oct 2018
University of Miami - Department of Finance, University of Miami - School of Business Administration, National University of Singapore (NUS) - Department of Finance and Oklahoma State University - Tulsa
Downloads 155 (182,397)

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Institutional investors; equity analysts; local bias; informational advantage

64.

A Computational Analysis of the Core of a Trading Economy with Three Competitive Equilibria and a Finite Number of Traders

Cowles Foundation Discussion Paper No. 1290; Yale ICF Working Paper No. 00-53
Number of pages: 25 Posted: 12 Sep 2001
Martin Shubik and Alok Kumar
Yale University - School of Management and University of Miami - School of Business Administration
Downloads 142 (196,161)
Citation 1

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Core, Multiple competitive equilibria, Speed of convergence, Sensitivity Analysis.

65.

Hispanic Culture, Stock Preferences, and Asset Prices

Number of pages: 77 Posted: 16 Dec 2016 Last Revised: 21 Jan 2019
Cornell University, University of Miami - Department of Finance, University of Miami - School of Business Administration and University of Miami
Downloads 137 (201,862)

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culture, style investing, local bias, lottery stocks, comovement, momentum

66.

Lending to Sensation-Seeking Households

Number of pages: 49 Posted: 12 Aug 2016 Last Revised: 24 Oct 2016
University of Miami - School of Business Administration, University of Miami, University of Miami - School of Business Administration and University of Miami - School of Business Administration
Downloads 135 (204,264)

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Household Credit, Mortgage, Sensation-Seeking, Local Culture, Soft Information

67.

Presidential Elections, Political Sensitivity, and Hedge Fund Performance

Number of pages: 44 Posted: 08 Nov 2016 Last Revised: 18 Nov 2016
Honghui Chen, Alok Kumar, Yan Lu and Ajai K. Singh
Department of Finance, University of Central Florida, University of Miami - School of Business Administration, University of Central Florida - College of Business Administration and Department of Finance, University of Central Florida
Downloads 126 (215,595)

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Hedge funds, political sensitivity, Presidential elections, portfolio adjustments, performance evaluation, managerial skill.

68.

Portfolio Choice with Investor Entry and Exit

Number of pages: 77 Posted: 24 May 2017 Last Revised: 05 Dec 2018
University of Colorado at Denver - Department of Finance, University of Miami and University of Miami - School of Business Administration
Downloads 120 (223,725)

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Consumption risk, limited stock market participation, trading costs, income risk, PSID, SCF

69.

Big Fish in a Small Pond: Locally-Dominant Firms and the Business Cycle

Number of pages: 58 Posted: 14 Dec 2016 Last Revised: 14 Jul 2018
University of Missouri-Columbia, University of Miami and University of Miami - School of Business Administration
Downloads 120 (223,725)

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U.S. Business Cycle; Local Economy; Local Fluctuations; Locally-Dominant Firms; Idiosyncratic Shocks.

70.

Variations on the Theme of Scarf's Counter-Example

Number of pages: 23 Posted: 30 Nov 2001
Martin Shubik and Alok Kumar
Yale University - School of Management and University of Miami - School of Business Administration
Downloads 98 (258,109)
Citation 4

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Scarf's counter-example, Price adjustment mechanism, Feedback Controller, Multiple competitive equilibria, Stability

71.

Heterogeneous Beliefs and Return Volatility Around Seasoned Equity Offerings (SEOs)

Number of pages: 60 Posted: 28 Feb 2017 Last Revised: 22 Jan 2018
West Virginia University, Florida International University (FIU) - Department of Finance, University of Miami - School of Business Administration and Florida International University (FIU) - Department of Finance
Downloads 94 (265,196)

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Return Volatility; SEOs; Analyst Forecast Dispersion; Trade-based Heterogeneity in Beliefs; Optimism; Pessimism; Short Selling

72.

Cosearch Attention and Stock Return Predictability in Supply-Chains

Ashish Agarwal, Alvin Chung Man Leung, Prabhudev Konana, Alok Kumar (2017) Cosearch Attention and Stock Return Predictability in Supply Chains, Information Systems Research, DOI: doi/10.1287/isre.2016.0656 (Forthcoming)
Number of pages: 60 Posted: 30 Mar 2017
University of Texas at Austin - Red McCombs School of Business, City University of Hong Kong (CityUHK) - Department of Information Systems, University of Texas at Austin - Department of Information, Risk and Operations Management and University of Miami - School of Business Administration
Downloads 85 (282,535)

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online search, correlated search, user attention, network analysis, stock returns, supply chain

73.

Seeing is Believing: Travel, Familiarity and International Equity Investments

Number of pages: 50 Posted: 13 Nov 2018 Last Revised: 21 Dec 2018
University of Warwick - Warwick Business School, University of Miami - School of Business Administration and University of Warwick - Warwick Business School
Downloads 27 (463,278)

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Familiarity, Foreign Equity Investments, Home Bias

74.

Climate Sensitivity and Predictable Returns

Number of pages: 39
Alok Kumar, Wei Xin and Chendi Zhang
University of Miami - School of Business Administration, University of Warwick, Warwick Business School, Students and University of Warwick - Finance Group
Downloads 6

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Climate change, climate risk, market efficiency, return predictability

75.

Social Sentiment and Asset Prices

Number of pages: 42
Yao Chen, Alok Kumar and Chendi Zhang
Cardiff University - Cardiff Business School, University of Miami - School of Business Administration and University of Warwick - Finance Group
Downloads 1

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Corporate social responsibility; investor attention, socially responsible investing, return predictability, social sentiment

76.

Self-Selection and the Forecasting Abilities of Female Equity Analysts

Journal of Accounting Research, Forthcoming
Posted: 15 Nov 2007 Last Revised: 06 Oct 2009
Alok Kumar
University of Miami - School of Business Administration

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Female analysts, earnings forecasts, market reaction, career mobility, gender bias, media coverage, self-selection.

77.

Foreign Investments of U.S. Individual Investors: Causes and Consequences

Management Science, Forthcoming
Posted: 07 Sep 2007
Warren Bailey, Alok Kumar and David T. Ng
Cornell University, University of Miami - School of Business Administration and Cornell University

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Individual investors, diversification, home bias, local bias, over-confidence