McCombs Finance Chair and World-Renowned Scholar Sheridan Titman Celebrated for Field-Changing Research – UT News

AUSTIN, Texas — For analysis that altered the face of investing, Sheridan Titman, UT Austin McCombs Faculty of Enterprise professor and chair of finance, has acquired the Wharton-Jacobs Levy Prize for Quantitative Monetary Innovation.

The award acknowledges the affect of a 1993 Journal of Finance research on momentum investing by Titman and Narasimhan Jegadeesh, chair of finance on the Goizueta Enterprise Faculty at Emory College, “Returns to Shopping for Winners and Promoting Losers: Implications for Inventory Market Effectivity.”

The paper marked a shift in funding thought, exhibiting that methods of shopping for current inventory winners and promoting current losers led to important optimistic returns.

“Their work on momentum investing is as inventive as it’s rigorous,” stated Erika James, dean of the Wharton Faculty. “We honor them for bettering our understanding of complicated monetary phenomena.”

The Jacobs Levy Fairness Administration Heart for Quantitative Monetary Analysis presents the award biennially for quantitative analysis that has contributed to a selected innovation within the follow of finance.

Titman holds the Walter W. McAllister Centennial Distinguished College Chair in Monetary Providers on the McCombs Faculty.

“I’m so happy however in no way stunned that Sheridan has garnered one of many finance self-discipline’s most prestigious awards,” stated Lillian Mills, dean of the McCombs Faculty. “He’s an extremely prolific researcher whose affect to the sphere of finance is matched solely by his affect on our college students.”

The findings in Titman’s award-winning paper have been confirmed by many research, some wanting way back to the nineteenth century. The analysis additionally led fund managers to undertake new methods.

“Their work challenged the increasing view of the prevalence of passive funding methods and had an unlimited affect on the world of investing,” stated Craig MacKinlay, Wharton professor of finance and co-academic director of the Jacobs Levy Heart.

The Wharton-Jacobs Levy Prize is endowed with a $2 million present from the Wharton alumni principals and co-founders of Jacobs Levy Fairness Administration.