Gerard Hoberg's Research Page

Selected Working Papers (click to download)

Intellectual Property Protection Lost and Competition: An Examination Using Machine Learning (with Utku Acikalin, Tolga Caskurlu, and Gordon Phillips).

Directors Networks and Innovation Herding (with Felipe Cabezon).

Do Trade Associations Matter to Corporate Strategies? (with Ekaterina Neretina).

Institutional Participation in Information Production and Anomaly Returns (with AJ Yuan Chen and Ben Miao Zhang).

Life Cycles of Firm Disclosures (with AJ Yuan Chen and Vojislav Maksimovic).

Technology Sectoral Disruptions (with Tolga Caskurlu and Gordon Phillips).

Merger Integration and Merger Success (with Gordon Phillips).

Published Articles

Scale, Scope and Competition: The 21st Century Firm (with Gordon Phillips). Journal of Finance, forthcoming.

Product Life Cycles in Corporate Finance (with Vojislav Maksimovic). Review of Financial Studies, September 2022, 35 (9), 4249-4299.

Rapidly Evolving Technologies and Startup Exits (with Don Bowen and Laurent Fresard). Management Science, forthcoming.

Buy-Side Competition and Momentum Profits (with Nitin Kumar and NR Prabhala). Review of Financial Studies, January 2022, 35 (1), 254-298.

Innovation Activities and Integration through Vertical Acquisitions (with Laurent Fresard and Gordon Phillips). Review of Financial Studies, July 2020, 33 (7), 2937-2976.

Dynamic Interpretation of Emerging Risks in the Financial Sector (with Kathleen Hanley). Review of Financial Studies, December 2019, 32 (12), 4543-4603.

Mutual Fund Competition, Managerial Skill, and Alpha Persistence (with Nitin Kumar and Nagpurnanand Prabhala). Review of Financial Studies, May 2018, 31 (5), 1869-1929.

The Offshoring Return Premium (with Katie Moon). Management Science, June 2019, 65 (6), 2876-2899.

Offshore Activities and Financial vs Operational Hedging (with Katie Moon). Journal of Financial Economics, August 2017, 125 (2), 217-244.

Text-Based Industry Momentum (with Gordon Phillips). Journal of Financial and Quantitative Analysis, December 2018, 53 (6), 2355-2388.

Text-Based Industry Choice and Product Language (with Gordon Phillips). Management Science, August 2018, 64 (8), 3735-3755.

Do Fraudulent Firms Produce Abnormal Disclosure? (with Craig Lewis). Journal of Corporate Finance, April 2017, 43, 58-85.

Text-Based Network Industries and Endogenous Product Differentiation (with Gordon Phillips). Journal of Political Economy, October 2016, 124 (5), 1423-1465.

Does Product Market Competition Drive CVC Investment? (with Keongtae Kim and Anand Gopal). Information Systems Research, June 2016, 27 (2), 259-281.

Redefining Financial Constraints: A Text-Based Analysis (with Vojislav Maksimovic). Review of Financial Studies, May 2015, 28 (5), 1312-1352.

Product Market Threats, Payouts, and Financial Flexibility (with Gordon Phillips and Nagpurnanand Prabhala). Journal of Finance, February 2014, 69 (1), 293-324.

Litigation Risk, Strategic Disclosure and the Underpricing of Initial Public Offerings (with Kathleen Hanley). Journal of Financial Economics, February 2012, 103 (2), 235-254.

Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis (with Gordon Phillips). Review of Financial Studies, October 2010, 23 (10), 3773-3811.

The Information Content of IPO Prospectuses (with Kathleen Hanley). Review of Financial Studies, July 2010, 23 (7), 2821-64.

Real and Financial Industry Booms and Busts (with Gordon Phillips). Journal of Finance, January 2010, 65 (1), 45-86.

Disappearing Dividends, Catering, and Risk (with N.R. Prabhala). Review of Financial Studies, January 2009, 22 (1), 79-116.

The Underwriter Persistence Phenomenon (with N.R. Prabhala). Journal of Finance, June 2007, 62 (3), 1169-1206.

Published Discussions

Discussion of Using Unstructured and Qualitative Disclosures to Explain Accruals, Journal of Accounting and Economics, Nov-Dec 2016, 62 (2-3), 228-233.

Miscellaneous

Primary homepage with links to data libraries.

Jerry's SSRN Author Page.

Jerry's Google Scholar Page.

Interests: Corporate Finance, Industrial Organization, IPOs, M&A, Payout Policy, Financial Constraints, Product Markets, Systemic Risk, and Empirical Asset Pricing.