Biography

Narasimhan Jegadeesh is the Dean's Distinguished Chair in Finance at the Goizueta Business School. He has also been on the faculty at the University of Illinois at Urbana-Champaign and the University of California at Los Angeles. He has published extensively in the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies and other leading academic finance journals. His research has been discussed in several publications including Businessweek, The Economist, Forbes, Kiplinger's Personal Investments, Money, New York Times, and Smart Money.

Education

  • PhD in Finance
    Columbia University
  • MBA in Postgraduate Diploma in Management
    Indian Institute of Management
  • BTech in Mechanical Engineering
    Indian Institute of Technology

Closing auctions: Nasdaq versus NYSE

Journal of Financial Economics
April 29, 2025
2022

Closing auction volume steadily increased over the last decade, and it reached a peak of about 10% of the total trading volume in 2019. We examine the price impact and resiliency of closing auctions, and we compare closing auction liquidity in Nasdaq and the NYSE...

What Do Fund Flows Reveal about Asset Pricing Models and Investor Sophistication? Get access Arrow

The Review of Financial Studies
April 29, 2025
2021

Recent evidence indicates that market model alphas are stronger predictors of mutual fund flows than alphas with other models. Some recent papers have interpreted this evidence to mean that CAPM is the best asset pricing model, but some others have interpreted it as evidence against investor sophistication. We evaluate the merits of these mutually exclusive interpretations...

Empirical tests of asset pricing models with individual assets: Resolving the errors-in-variables bias in risk premium estimation

Journal of Financial Economics
April 29, 2025
2019

To attenuate an inherent errors-in-variables bias, portfolios are widely employed to test asset pricing models; but portfolios might mask relevant risk- or return-related features of individual stocks. We propose an instrumental variables approach that allows the use of individual stocks as test assets, yet delivers consistent estimates of ex post risk premiums...

Cross-Sectional and Time-Series Tests of Return Predictability: What Is the Difference? Get access Arrow

The Review of Financial Studies
April 29, 2025
2018

We compare the performance of time-series (TS) and cross-sectional (CS) strategies based on past returns. While CS strategies are zero-net investment long/short strategies, TS strategies take on a time-varying net long investment in risky assets...

Buyers versus Sellers: Who Initiates Trades, and When?

Journal of Financial and Quantitative Analysis
April 29, 2025
2016

Models that examine investors’ motivations to trade often make opposite predictions about the relation between trading decisions and past returns. We find that, in the aggregate, both buyer- and seller-initiated trades increase with past returns. The difference between buyer- and seller-initiated trades is negatively related to short horizon returns but positively related to returns over longer horizons...

Risk and Expected Returns of Private Equity Investments: Evidence Based on Market Prices

The Review of Financial Studies
April 29, 2025
2015

We estimate the risk and expected return of private equity using market prices of publicly traded funds of funds holding unlisted private equity funds and of publicly traded private equity funds participating directly in private equity transactions...

Word Power: A New Approach for Content Analysis

Journal of Financial Economics
April 29, 2025
2013

We present a new approach for content analysis to quantify document tone. We find a significant relation between our measure of the tone of 10-Ks and market reaction for both negative and positive words...

Buy-side trades and sell-side recommendations: Interactions and information content

Journal of Financial Markets
April 29, 2025
2012

We examine the performance of buy-side institutional investor trades and sell-side brokerage analyst stock recommendations, as well as their interactions...

Momentum

SSRN Electronic Journal
April 29, 2025
2011

There is substantial evidence that indicates that stocks that perform the best (worst) over a three to 12 month period tend to continue to perform well (poorly) over the subsequent three to 12 months. This article reviews the momentum literature and discusses some of the explanations for this phenomenon...