Purpose: The purpose of this paper is to describe an investment program that offers students with the opportunity to simultaneously manage a private asset fund and a public asset fund. The program has been in operation since 2013 and has made significant progress in student placement and...

We examine the differing influences of equity and asset acquisitions in Real Estate Investment Trusts (REITs) considering the prevalence of REIT asset acquisitions as frequent and major investment decisions. We examine the impact of asset purchase announcements on market returns, operating...

Many financial scandals appear to depend on a lack of skepticism on the part of their victims. For example, sophisticated investors trusted Bernie Madoff, despite early warning signs of implausible returns. Our study investigates how education and personality explain skeptical behavior in...

Purpose – It has been found that stock market returns vary seasonally with the amount of daylight, and they attribute this effect to seasonal affective disorder (SAD), which is a psychological condition that causes depression and heightened risk aversion during the fall and winter months. The...

We conduct a clinical study on a firm that restructures its 401(k) plan and simultaneously offers financial education seminars to its employees. The restructuring requires each employee to restate allocation percentages, thus we are able to analyze the specific benefits of retirement planning...

I examine the pricing differences between two S&P500 ETFs (ticker symbols SPY and IVV) and the underlying stock index. I find that, on average, both ETFs trade at a premium relative to the S&P500; however, the level of the daily premium (and, on occasion, discount) varies between the two securities,...

We examine common asset allocation strategies for retirement investing, considering both static and dynamic approaches, as well as those allocation policies used by leading target date fund providers. We find that, over time, certain static approaches are essentially equivalent to dynamic...