T. Clifton Green

Photo of
  • Associate Professor of Finance
  • Doctoral Area Coordinator
  • Finance
  • Phone: (404) 727-5167
  • Fax: (404) 727-5238

Mailing Address:

Goizueta Business School
Emory University
1300 Clifton Road NE
Atlanta, GA 30322


Clifton Green joined Goizueta Business School in 1999 after completing his PhD at NYU where he taught 1998-1999. His research interests include investments and market microstructure, with an emphasis on behavioral finance. Clifton's research has been featured in the Wall Street Journal, Barrons, Financial Times, and on CNBC television.

At Goizueta, Clifton serves as the Finance PhD Coordinator and teaches the core Corporate Finance class in the BBA program and Behavioral Finance in the PhD program. He has also taught Security Analysis and Portfolio Management in the MBA program.


  • Initial Public Offerings as Lotteries: Skewness Preference and First-Day Returns, with B. Hwang, Management Science, 2012
  • Buy-side Trades and Sell-Side Recommendations, Interactions and Information Content, with J. Busse and N. Jegadeesh, 2012
  • Gender and Job Performance: Evidence from Wall Street, with N. Jegadeesh and Y. Tang, Financial Analysts Journal, 2009
  • Price-Based Return Comovement, co-authored with B. Hwang, Journal of Financial Economics, 2009
  • The Impact of Mutual Fund Family Membership on Investor Risk, with E. Elton and M. Gruber, Journal of Financial and Quantitative Analysis, 2007
  • The Value of Client Access to Analyst Recommendations, Journal of Financial and Quantitative Analysis, 2006
  • Economic News and the Impact of Trading on Bond Prices, Journal of Finance, 2004
  • Market Efficiency in Real Time, co-authored with J. Busse, Journal of Financial Economics, 2002
  • Economic News and Bond Prices: Evidence from the U.S. Treasury Market, co-authored with P. Balduzzi and E. J. Elton, Journal of Financial and Quantitative Analysis, 2001
  • Market Risk and Model Risk for a Financial Institution Writing Options, co-authored with S. Figlewski, Journal of Finance, 1999
  • Tax and Liquidity Effects in Pricing Government Bonds, co-authored with E. J. Elton, Journal of Finance, 1998

Working Papers

  • Investor Conferences as a Research Service, with R. Jame, S. Markov, and M. Subasi
  • Company Name Fluency, Investor Recognition, and Firm Value
  • Fund Managers Who Take Big Bets: Skilled or Overconfident, with Klaas Baks and Jeff Busse, 2006

Areas of Specialization

  • Investments
  • Behavioral Finance
  • Market Microstructure

Achievements and Honors

  • Distinguished Teaching Scholar, 2010-2011
  • Adler Prize for Excellence in Teaching, 2010
  • Keough Award for Excellence, 2009
  • BBA Distinguished Educator Award, 2009
  • Crystal Apple Undergraduate Teaching Award, 2008
  • Emory Williams Distinguished Teaching Award, 2007
  • Outstanding Mentor, Office of Multicultural Programs and Services, Emory University, 2003
  • Nominated for the Smith Breeden Award for the best paper in the Journal of Finance, 1998, 2004
  • Ad hoc referee, Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Financial and Quantitative Analysis


  • Ph.D. Finance, New York University, New York, NY 1999
  • Master's Economics, University of Virginia, Charlottesville, VA 1994
  • Bachelor's Economics (minor in Mathematics), Texas A&M University, College Station, TX 1992