Alok Kumar - WBS Distinguished Research Environment Professor | Staff Directory

Research Interests

Behavioral Finance, Investments, Corporate Finance, Computational Economics.

Teaching in 2021-2022

Executive MBA

IB844E: The Psychology of Investing and Financial Decision Making

Finance Group

Email: Alok.Kumar@wbs.ac.uk Room: TBC

Biography

Alok Kumar is the Department Chair and Gabelli Asset Management Professor of Finance at University of Miami Herbert Business School. He is also WBS Distinguished Research Environment Professor (part-time) at the Warwick Business School in the U.K. and Professorial Research Fellow (part-time) at Deakin University in Australia. Previously, he was an Associate Professor of Finance at the McCombs School of Business, University of Texas at Austin, an Assistant Professor of Finance at the Mendoza College of Business, University of Notre Dame, and one of the founding principals and chief investment officer of Coral Gables Asset Management. Professor Kumar received his undergraduate degree in Mechanical Engineering from the Indian Institute of Technology at Kharagpur and a PhD in Economics from Cornell University. He also has advanced degrees in Robotics and Management from Dartmouth College and Yale University, respectively.

Professor Kumar's research interests lie at the intersection of finance and psychology. He is an expert in the area of Behavioral Finance, and his work has appeared in top Finance, Accounting, Economics, and Management journals such as the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies, the Journal of Accounting Research, Management Science, Games and Economic Behavior, and The Review of Economics and Statistics. His research has also been covered in the Wall Street Journal, the New York Times, the Washington Post, the Montreal Gazette, Forbes, and SmartMoney. Professor Kumar has served as a consultant for several firms, including the Commonfund, Postnieks Capital Management, Validea, and Bluecrest Capital.

Publications

Journal Articles

Kumar, A., Rantala, V. and Xu, R. (2021) "Social learning and analyst behavior", Journal of Financial Economics
Jannati, S., Korniotis, G. and Kumar, A. (2020) "Big fish in a small pond : locally dominant firms and the business cycle", Journal of Economic Behavior & Organization, 180, 219-240
Hibbert, A. M., Kang, Q., Kumar, A. and Mishra, S. (2020) "Heterogeneous beliefs and return volatility around seasoned equity offerings", Journal of Financial Economics, 137, 2, 571-589
Cuculiza, C., Antoniou, C., Kumar, A. and Maligkris, A. (2020) "Terrorist attacks, analyst sentiment, and earnings forecasts", Management Science, 67, 4, 2579-2608
Jung, J. H., Kumar, A., Lim, S. S. and Yoo, C. (2019) "An analyst by any other surname : surname favorability and market reaction to analyst forecasts", Journal of Accounting and Economics, 67, 2-3, 306-335
Addoum, J. M., Delikouras, S., Korniotis, G. M. and Kumar, A. (2019) "Income hedging, dynamic style preferences, and return predictability", The Journal of Finance , 74, 4, 2055-2106
Addoum, J. M., Delikouras, S., Ke, D. and Kumar, A. (2019) "Underreaction to political information and price momentum", Financial Management , 48, 3, 773-804
Chhaochharia, V., Kim, D., Korniotis, G. and Kumar, A. (2019) "Mood, firm behavior, and aggregate economic outcomes", Journal of Financial Economics, 32, 2, 427-450
Addoum, J. M., Korniotis, G. and Kumar, A. (2017) "Stature, obesity, and portfolio choice", Management Science, 63, 10, 3393-3413
Leung, A. C. M., Agarwal, A., Konana, P. and Kumar, A. (2017) "Network analysis of search dynamics : the case of stock habitats", Management Science, 63, 8, 2667-2687
Kumar, A., Page, J. K. and Spalt, O. G. (2016) "Gambling and comovement", Journal of Financial and Quantitative Analysis, 51, 01, 85-111
Addoum, J. M. and Kumar, A. (2016) "Political sentiment and predictable returns", Review of Financial Studies, 29, 12, 3471-3518
Jiang, D., Kumar, A. and Law, K. K. F. (2016) "Political contributions and analyst behavior", Review of Accounting Studies, 21, 1, 37-88
Hugon, A., Kumar, A. and Lin, A. (2016) "Analysts, macroeconomic news, and the benefit of active in-house economists", The Accounting Review, 91, 2, 513-534
Hutton, I., Jiang, D. and Kumar, A. (2015) "Corporate policies of republican managers", Journal of Financial and Quantitative Analysis, 49, 5-6, 1279-1310
Kumar, A., Niessen-Ruenzi, A. and Spalt, O. G. (2015) "What's in a name? Mutual fund flows when managers have foreign-sounding names", Review of Financial Studies, 28, 8, 2281-2321
Hutton, I., Jiang, D. and Kumar, A. (2015) "Political values, culture, and corporate litigation", Management Science, 61, 12, 2905-2925
Goetzmann, W. N., Kim, D., Kumar, A. and Wang, Q. (2015) "Weather-induced mood, institutional investors, and stock returns", Review of Financial Studies, 28, 1, 73-111
Bernile, G., Korniotis, G., Kumar, A. and Wang, Q. (2015) "Local business cycles and local liquidity", Journal of Financial and Quantitative Analysis, 50, 5, 987-1010
Bernile, G., Kumar, A. and Sulaeman, J. (2015) "Home away from home : geography of information and local investors", The Review of Financial Studies, 28, 7, 2009-2049
Bonaparte, Y., Korniotis, G. M. and Kumar, A. (2014) "Income hedging and portfolio decisions", Journal of Financial Economics, 113, 2, 300-324
Kumar, A. and Page, J. K. (2014) "Deviations from norms and informed trading", Journal of Financial and Quantitative Analysis, 49, 04, 1005-1037