Gerard Hoberg


Charles E. Cook Community Bank Professor of Finance

Marshall School of Business
University of Southern California

 

Email:
hoberg at marshall dot usc dot edu

Mailing Address:
USC FBE Dept.
HOH-2nd Floor
Los Angeles, CA 90089-0804

Office Location: HOH 811

Phone: 213.740.2348

Gerard Hoberg's Research


Selected Working Papers

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

·         Directors Networks and Innovation Herding (with Felipe Cabezon). [Download]

·         Do Trade Associations Matter to Corporate Strategies? (with Ekaterina Neretina). [Download]

·         Wisdom of the Institutional Crowd: Implications for Anomaly Returns (with AJ Yuan Chen and Ben Miao Zhang). [Download]

·         Life Cycles of Firm Disclosures (with AJ Yuan Chen and Vojislav Maksimovic). [Download]

·         Technology Sectoral Disruptions (with Tolga Caskurlu and Gordon Phillips). [Coming Soon]

·         Merger Integration and Merger Success (with Gordon Phillips). [Download]

 

Published Articles

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

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

§  Rapidly Evolving Technologies and Startup Exits (with Don Bowen and Laurent Fresard)
Management Science (forthcoming) [Download]

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

§  Innovation Activities and Integration through Vertical Acquisitions (with Laurent Fresard and Gordon Phillips)
Review of Financial Studies (July 2020) 33 (7) 2937-2976.
[Download Paper] | [Internet Appendix]

§  Dynamic Interpretation of Emerging Risks in the Financial Sector (with Kathleen Hanley)
Review of Financial Studies (Dec 2019) 32 (12), 4543–4603. [*Lead article and editor’s choice, funded by NSF Grant #1449578]. [Download]

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

§  The Offshoring Return Premium (with Katie Moon)
Management Science (June 2019) 65 (6), 2876–2899. [Download]

§  Offshore Activities and Financial vs Operational Hedging (with Katie Moon)
Journal of Financial Economics (August 2017) 125 (2), 217-244 [*lead article]. [Download]

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

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

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

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

§  Does Product Market Competition Drive CVC Investment? Evidence from the U.S. IT Industry (with Keongtae Kim and Anand Gopal)
Information Systems Research (June 2016) 27 (2), 259-281. [Download]

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

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

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

§  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. [Download]

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

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

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

§  The Underwriter Persistence Phenomenon,
Journal of Finance (June 2007) 62 (3), 1169-1206. [Download]

Published Discussion

§  Discussion of using unstructured and qualitative disclosures to explain accruals,
Journal of Accounting and Economics  (Nov-Dec 2016) 62 (2-3), 228-233. [Download]


Miscellaneous

·         Primary homepage with links to data libraries. [Homepage]

·         Jerry's SSRN Author Page. [View All Working Papers]

·         Jerry's Google Scholar Page. [View Google Page ]

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

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