Hank Bessembinder is a professor and the Francis J. and Mary B. Labriola Endowed Chair in Competitive Business. He returned to Arizona State University, where taught for a decade before heading to Emory University and the University of Utah. Prior to his first assignment with ASU, Professor Bessembinder taught at the University of Rochester. His research focuses on the design and regulation of financial markets, including stock, foreign exchange, fixed income, futures, and energy markets. He has published numerous articles in the Journal of Finance, Journal of Financial Economics, and Review of Financial Studies, among others.
A frequent speaker at conferences, financial markets, and universities around the world, Professor Bessembinder has more than 20 years of successful consulting experience, providing strategic advice and analysis for major firms, financial markets, and government agencies.
Research highlights
Do stocks outperform Treasury bills?
Research featured on Social Sciences Research Network
Refereed Publications:
- “Capital Commitment and Illiquidity in Corporate Bonds (with William Maxwell, Stacey Jacobsen, and Kumar Venkataraman)” forthcoming in Journal of Finance.
- “Do Stocks Outperform Treasury Bills?” forthcoming in Journal of Financial Economics.
- “Liquidity, Resiliency, and Market Quality around Predictable Trades: Theory and Evidence” Journal of Financial Economics, July 2016, 121: 142-166. (with Al Carrion, Laura Tuttle, and Kumar Venkataraman)
- “Market Making Contracts, Firm Value, and the IPO Decision” Journal of Finance, October 2015, 70: 1997-2028. (with Jia Hao and Kuncheng Zheng)
- “Predictable Corporate Distributions and Stock Returns” Review of Financial Studies, April 2015, 28: 1199-1241. (with Feng Zhang)
- “Firm Characteristics and Long-run Stock Returns after Corporate Events” Journal of Financial Economics, July 2013, 109: 83-102. (with Feng Zhang)
- “Noisy Prices and Inference Regarding Returns” Journal of Finance, April 2013, 68: 665-714. (with Elena Asparouhova and Ivalina Kalcheva)
- “Liquidity Biases in Asset Pricing Tests” Journal of Financial Economics, May 2010, 96: 215-237. (with Elena Asparouhova and Ivalina Kalcheva)
- “Hidden Liquidity: An Analysis of Order Exposure Strategies in Automated Markets” Journal of Financial Economics, December 2009, 94: 361-383. (with Kumar Venkataraman and Marios Panayides)
- “Measuring Abnormal Bond Performance” Review of Financial Studies, October 2009, 22: 4219-4258. (with William Maxwell, Kathleen Kahle, and Danielle Xu)
- “Market Transparency, Liquidity Externalities, and Institutional Trading Costs in Corporate Bonds” Journal of Financial Economics, November 2006, 82: 251-288. (with William Maxwell and Kumar Venkataraman)
