BIO

Shane Corwin is the Viola D. Hank Associate Professor of Finance. His research focuses on investment banking and security market design. In recent papers, he has studied the role of limited attention in securities trading, the measurement of transaction costs, and the effects of systematic liquidity. Shane has served as a member of the Nasdaq Economic Advisory Board and was recently awarded a Morgan Stanley Equity Market Microstructure Research Grant. He teaches security analysis and investments and has received several teaching awards at Notre Dame including the Kaneb Award, the BP Outstanding Teacher Award, and the Chicago EMBA Outstanding Professor Award. Shane received a B.S. and an MBA from Mankato State University and subsequently earned a Ph.D. in Finance from The Ohio State University. He was an Assistant Professor at the University of Georgia prior to joining the University of Notre Dame faculty in the fall of 2000.

AREAS OF EXPERTISE

• Investments
• Market Microstructure
• Investment Banking
• Valuation

EDUCATION

• Ph D, Ohio State University
• MBA, Mankato State University
• BS, Mankato State University

TEACHING

• Equity Valuation
• Security Analysis

HOMEPAGE

• www.nd.edu/~scorwin

PUBLICATIONS

"A Simple Way to Estimate Bid-Ask Spreads from Daily High and Low Prices," (with Paul H Schultz),  Journal of Finance, 67, 2012, 719-759.

"When a Halt is Not a Halt: An Analysis of Off-NYSE Trading during NYSE Market Closures," (with Bidisha Chakrabarty, Marios Panayides),  Journal of Financial Intermediation, 20, July (3rd Quarter/Summer), 2011, 361-386.

"Order Characteristics and the Sources of Commonality in Prices and Liquidity," (with Marc L Lipson),  Journal of Financial Markets, 14, February, 2011, 47-81.

"Limited Attention and the Allocation of Effort in Securities Trading," (with Jay Coughenour),  Journal of Finance, 63, 2008, 3031-3067.

"The Role of IPO Underwriting Syndicates: Pricing, Information Production, and Underwriter Competition," (with Paul H. Schultz),  Journal of Finance, vol. 60(1), 2005, pages 443-486.

"Specialist Performance and New Listing Allocations on the NYSE: An Empirical Analysis,"  Journal of Financial Markets, vol. 7(1), 2004, 27-51.

"The Development of Secondary Market Liquidity for NYSE-Listed IPOs," (with Jeffrey H. Harris, Marc L. Lipson),  Journal of Finance, vol. 59(5), 2004, 2339-2373.

"The Determinants of Underpricing for Seasoned Equity Offers,"  Journal of Finance, vol. 58(5), 2003, 2249-2279.

"Nasdaq Trading Halts: The Impact of Market Mechanisms on Prices, Trading Activity, and Execution Costs," (with William G. Christie, Jeffrey H. Harris),  Journal of Finance, vol. 57(3), 2002, 1443-1478.

"The Initial Listing Decisions of Firms that Go Public," (with Jeffrey H. Harris),  Financial Management, vol. 30(1), 2001, 35-55.

"Order Flow and Liquidity Around NYSE Trading Halts," (with Marc L. Lipson),  Journal of Finance, vol. 55(4), 2000, 1771-1801.

"Differences in Trading Behavior Across NYSE Specialist Firms,"  Journal of Finance, vol. 54(2), 1999, 721-745.