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Sheridan Titman
Special Term Professor of Finance
Professor of Finance, University of Texas at Austin
  • PROFILE
  • RESEARCH
  • TEACHING
Sheridan Titman is a Special-Term Professor of Finance at Shanghai Advanced Institute of Finance (SAIF), and the McAllister Centennial Chair in Financial Services of University of Texas at Austin. Professor Titman is a Research Associate of the National Bureau of Economic Research. Prior to joining the faculty at the University of Texas, Professor Titman was a Professor at UCLA, the Hong Kong University of Science and Technology and Boston College and spent the 1988-89 academic year in Washington D.C. as the special assistant to the Assistant Secretary of the Treasury for Economic Policy.
 
Professor Titman’s academic publications include both theoretical and empirical articles on asset pricing, corporate finance, real estate and energy finance. He has published over 50 articles in the top professional journals and three books, which are all well-cited by academics and industry professionals. 
 
Professor Titman has served on the editorial boards of leading academic journals, including the Journal of Finance and the Review of Financial Studies, served as an editor of the Review of Financial Studies and was the founding editor of the International Review of Finance.  He has been a board member of the Asian Finance Association, the Financial Management Association, the Western Finance Association, and the American Finance Association and has served as the President of both the Western Finance Association and the American Finance Association.  He is currently the Vice President of the American Real Estate and Urban Economics Association.
 
Professor Titman holds a B.S from the University of Colorado and an M.S. and Ph.D. from Carnegie Mellon University.

Research Interests
Asset pricing, corporate finance, real estate and energy finance

Journal Publications & Working Papers
1. Andres Almazan, Adolfode Motta, Sheridan Titman, 2015, Debt, labor markets, and the creation and destruction of firms, Journal of Financial Economics.
2. Libo Sun,Sheridan D. Titman, Garry J. Twite, 2015, REIT and Commercial Real Estate Returns: A Postmortem of the Financial Crisis, Real Estate Economics.
3. Casey Dougal, Christopher A. Parsons, Sheridan Titman, 2015, Urban Vibrancy and Corporate Growth, Journal of Finance.
4. Jay C. Hartzell, Libo Sun, Sheridan Titman, 2014, Institutional investors as monitors of corporate diversification decisions: Evidence from real estate investment trusts, Journal of Corporate Finance.
5. Sheridan Titman, Ko Wang, Jing Yang, 2014, The Dynamics of Housing Prices, Journal of Real Estate Research.
6. Avanidhar Subrahmanyam, Sheridan Titman, 2013, Financial Market Shocks and the Macroeconomy, Review of Financial Studies.
7. Sheridan Titman, Garry Twite, 2013, Urban density, law and the duration of real estate leases, Journal of Urban Economics.
8. John D. Martin, J. Douglas Ramsey, Sheridan Titman, Larry W. Lake , 2013, A Primer on the Economics of Shale Gas Production: Just how Cheap is Shale Gas?, Journal of Applied Corporate Finance.
9. Joseph P.H. Fan, Sheridan Titman, and Gary Twite, 2012, An International Comparison of Capital Structure and Debt Maturity Choices, Journal of Financial and Quantitative Analysis.
10. Armen Hovakimian, Ayla Kayhan, Sheridan Titman, 2012, Are Corporate Default Probabilities Consistent with the Static Trade-off Theory?, Review of Financial Studies.
11. Ron Kaniel, Shuming Liu, Gideon Saar, Sheridan Titman, 2012, Individual Investor Trading and Return Patterns around Earnings Announcements, Journal of Finance.
12. John Martin, V. Ravi Anshuman, Sheridan Titman , 2012, An Entrepreneur's Guide to Understanding the Cost of Venture Capital: Just how much does venture capital cost?, Journal of Applied Corporate Finance.
13. V. Ravi Anshuman, John Martin, Sheridan Titman, 2011, Accounting for Sovereign Risk When Investing in Emerging Markets, Journal of Applied Corporate Finance.
14. Eric Jacquier, Sheridan Titman, Atakan Yal??n, 2010, Predicting systematic risk: Implications from growth options, Journal of Empirical Finance.
15. Sheridan Titman, 2010, The leverage of hedge funds, Finance Research Letters.
16. John Martin,Sheridan Titman, 2008, Single vs. Multiple Discount Rates: How to Limit 'Influence Costs' in the Capital Allocation Process, Journal of Applied Corporate Finance.
17. Tim Opler, Armen Hovakimian,Sheridan Titman, 2002, The Capital Structure Choice: New Evidence for a Dynamic Tradeoff Model, Journal of Applied Corporate Finance.
18. Kent Daniel,Sheridan Titman, 1999, Market Efficiency in an Irrational World , Financial Analysts Journal.
19. Kent Daniel,Sheridan Titman, 1998, Characteristics or or Covariances? , Journal of Portfolio Management.
20. Kent Daniel,Sheridan Titman, 1997, Evidence on the Characteristics of Cross Sectional Variation in Stock Returns, Journal of Finance.
21. Kent Daniel, Mark Grinblatt, Russ Wermers,Sheridan Titman, 1997, Measuring Mutual Fund Performance with Characteristic Based Benchmarks, Journal of Finance.
22. Tim Opler , Michael Saron,Sheridan Titman, 1997, Corporate Liability Management: Designing Capital Structure to Create Shareholder Value, Journal of Applied Corporate Finance.
23. Narasimhan Jegadeesh,Sheridan Titman, 1995, Short Horizon Return Reversals and the Bid-Ask Spread, Journal of Financial Intermediation.
24. Narasimhan Jegadeesh,Sheridan Titman, 1995, Overreaction, Delayed Reaction and Contrarian Profits, Review of Financial Studies.
25. Mark Grinblatt,Russ Wermers,Sheridan Titman, 1995, Momentum Investment Strategies, Portfolio Performance and Herding: A Study of Mutual Fund Behavior, American Economic Review.
26. Sheridan Titman, 1995, Issuing Equity Under Asymmetric Information, North Holland Handbook of Finance.
27. Sheridan Titman, 1995, Performance Evaluation, North Holland Handbook of Finance.
28. Sheridan Titman,Tim Opler, 1994, Financial Distress and Corporate Performance, Journal of Finance.
29. Mark Grinblatt,Sheridan Titman, 1994, A Study of Monthly Mutual Fund Returns and Performance Evaluation Techniques, Journal of Financial and Quantitative Analysis.
30. David Hirshleifer, Avanidhar Subrahmanyam,Sheridan Titman, 1994, Security Analysis and Trading Patterns When Some Investors Receive Private Information Before Others, Journal of Finance.
31. Narasimhan Jegadeesh,Sheridan Titman, 1993, Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency, Journal of Finance.
32. Mark Grinblatt,Sheridan Titman, 1993, Performance Measurement without Benchmarks: An Examination of Mutual Fund Returns,, Journal of Business.
33. Tim Opler,Sheridan Titman, 1993, The Characteristics of Leveraged Buyout Firms, Journal of Finance.
34. Sheridan Titman, 1992, Interest Rate Swaps and Corporate Financing Choices, Journal of Finance.
35. Mark Grinblatt,Sheridan Titman, 1992, The Persistence of Mutual Fund Returns, Journal of Finance.
36. Sheridan Titman,Vojislav Maksimovic, 1991, Financial Policy and a Firm's Reputation for Product Quality, Review of Financial Studies.
37. Julian Franks , Robert Harris,Sheridan Titman, 1991, The Postmerger Shareprice Performance of Acquiring Firms, Journal of Financial Economics.
38. David Hirshleifer,Sheridan Titman, 1990, Share Tendering Strategies and the Success of Hostile Takeover Bids, Journal of Political Economy.
39. Sheridan Titman, 1990, The Impact of Debt on Management Incentives, Investment Performance and Economic Impact.
40. Eli Talmor,Sheridan Titman, 1990, Taxes and Dividend Policy, Financial Management (USA).
41. Arthur Warga,Sheridan Titman, 1989, Stock Returns as Predictors of Interest Rates and Inflation, Journal of Financial and Quantitative Analysis.
42. Brett Trueman,Sheridan Titman, 1989, An Explanation of Accounting Income Smoothing, Journal of Accounting Research.
43. Mark Grinblatt,Sheridan Titman, 1989, Adverse Risk Incentives and the Design of Performance-Based Contracts, Management Science.
44. Mark Grinblatt,Sheridan Titman, 1989, Mutual Fund Performance: An Analysis of Quarterly Portfolio Holdings, Journal of Business.
45. Sheridan Titman,Walter Torous, 1989, Valuing Commercial Mortgages: An Empirical Investigation of the Contingent Claims Approach to Pricing Risky Debt,, Journal of Finance.
46. Mark Grinblatt,Sheridan Titman, 1989, Portfolio Performance Evaluation: Old Issues and New Insights, Review of Financial Studies.
47. Sheridan Titman, 1989, How to Avoid Games Portfolio Managers Play, Institutional Investor Money Management Forum.
48. Roberto Wessels,Sheridan Titman, 1988, The Determinants of Capital Structure, Journal of Finance.
49. Mark Grinblatt,Sheridan Titman, 1987, The Relation Between Mean-Variance Efficiency and Arbitrage Pricing, Journal of Business.
50. Sheridan Titman, 1987, How Clients Can Win the Gaming Game, Journal of Portfolio Management.
51. Brett Trueman,Sheridan Titman, 1986, Information Quality and the Valuation of New Issues, Journal of Accounting and Economics.
52. Arthur Warga,Sheridan Titman, 1986, Risk and the Performance of Real Estate Investment Trusts: A Multiple Index Approach, AREUEA Journal.
53. Sheridan Titman, 1985, The Effect of Forward Markets on the Debt-Equity Mix of Investor Portfolios and the Optimal Capital Structure of Firms, Journal of Financial and Quantitative Analysis.
54. Sheridan Titman, 1985, Urban Land Prices Under Uncertainty, American Economic Review.
55. Sheridan Titman, 1985, An Integrated Approach to Corporate Risk Management, Midland Corporate Finance Journal.
56. Mark Grinblatt,Sheridan Titman, 1985, Approximate Factor Structures: Interpretations and Implications for Empirical Tests, Journal of Finance.
57. Sheridan Titman, 1984, The Effect of Capital Structure on a Firm's Liquidation Decision, Journal of Financial Economics.
58. Mark Grinblatt , Ronald Masulis,Sheridan Titman, 1984, The Valuation Effects of Stock Splits and Stock Dividends, Journal of Financial Economics.
59. Mark Grinblatt,Sheridan Titman, 1983, Factor Pricing in a Finite Economy, Journal of Financial Economics.
60. Sheridan Titman, 1982, The Effects of Anticipated Inflation on Housing Market Equilibrium, Journal of Finance.

Teaching Interests
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Current Courses
No current courses at this time.

Faculty & Research
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