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Ashish Tiwari

Associate Professor and Director, PhD Program in Finance
Henry B. Tippie Research Fellow

Finance
S308  John Pappajohn Bus Bldg
The University of Iowa, Iowa City, IA 52242-1994
Ph: 319-353-2185
Fax: 319-335-3690
E-mail: ashish-tiwari@uiowa.edu
Google Scholar CV

Academic History

  • PhD in Finance, The University of Iowa, 1994
  • MBA in Finance, University of Windsor, 1989

Expertise

  • Asset Pricing
  • Market Microstructure
  • Mutual Funds/Hedge Funds

Awards

  • Top quartile of teaching evaluation score rankings: Spring 2006, Spring 2007, Spring 2012
  • Tippie Research Fellow, August 2013
  • Runner-up for the Best Paper Award (Investments), European Finance Association Annual Meeting (Copenhagen), August 2012
  • Michael Sandler Research Fellowship, 2009
  • Tippie College of Business Dean's Teaching Award, 2007
  • MBA Finance Elective Faculty of the Year, 2006
  • Matthew Bucksbaum Research Fellowship, 2004
  • Outstanding Derivatives Paper Award and a $1000 cash prize at the Midwest Finance Association Meetings for "Binomial Option Pricing Biases and Inconsistent Implied Volatilities" (with Brent Lekvin), 2001
  • Old Gold Fellowship, 2000
  • Best paper prize and a $3000 cash award for "Determinants of the bid-ask spread in an order driven market" (with Puneet Handa and Bob Schwartz) at the Conference on Organization and Quality of Equity Markets, SBF, Bourse de Paris, Paris, 1996

Selected Publications

Working Papers

            Review and Editorial Work

            • Referee, American Economic Review
            • Referee, European Financial Management
            • Referee, Finance Research Letters
            • Referee, Financial Management
            • Referee, Financial Review
            • Referee, Journal of Banking and Finance
            • Referee, Journal of Finance
            • Referee, Journal of Financial and Quantitative Analysis
            • Referee, Journal of Financial Markets
            • Referee, Journal of Financial Research
            • Referee, Journal of Financial Services Research
            • Referee, Journal of Forecasting
            • Referee, Quantitative Finance
            • Referee, Review of Finance
            • Referee, Review of Financial Studies

              Presentations

              • Investment Decisions under Ambiguity: Evidence from Mutual Fund Investor Behavior, American Finance Association annual meetings, American Finance Association, Philadelphia, PA, January 2014
              • Evaluating Hedge Funds with Pooled Benchmarks, University of California - Riverside Seminar, University of California - Riverside, Riverside, CA, November 2013
              • Evaluating Hedge Funds with Pooled Benchmarks, Iowa State University Seminar, Iowa State University, Ames, IA, October 2013
              • Evaluating Hedge Funds with Pooled Benchmarks, 6th Professional Asset Management Conference, Erasmus University, Rotterdam, Netherlands, June 2013
              • Evaluating Hedge Funds with Pooled Benchmarks, Western Finance Association Annual Meeting, Western Finance Association, Lake Tahoe, NV, June 2013
              • Contracting in Delegated Portfolio Management: The Case of Alternative Assets , European Finance Association Annual Meeting, European Finance Association, Copenhagen, Denmark, August 2012
              • Cross Trading and the Cost of Conflicts of Investment Advisers, Hong Kong University of Science and Technology Seminar, HKUST, Hong Kong, September 2011
              • Cross Trading and the Cost of Conflicts of Investment Advisers, Indian School of Business Seminar, Indian School of Business, Hyderabad, India, September 2011
              • Cross Trading and the Cost of Conflicts of Investment Advisers, Financial Intermediation Research Society Conference, FIRS, Sydney, June 2011
              • Cross Trading and the Cost of Conflicts of Investment Advisers, Professional Asset Management Conference, Erasmus University, Rotterdam, Netherlands, May 2011
              • Modeling the Cross Section of Stock Returns: A Model Pooling Approach, University of Technology Sydney Seminar, June 2010, University of Technology, Sydney, Australia, June 2010
              • Modeling the Cross Section of Stock Returns: A Model Pooling Approach, Massey University Seminar, May 2010, Massey University, New Zealand, May 2010
              • Modeling the Cross Section of Stock Returns: A Model Pooling Approach, University of Auckland Seminar, May 2010, University of Auckland, Auckland, New Zealand, May 2010
              • Modeling the Cross Section of Stock Returns: A Model Pooling Approach, Victoria University, Wellington Seminar, May 2010, Victoria University, Wellington, New Zealand, May 2010
              • Mutual Fund Flows, Performance Persistence, and Board Quality, Australian National University Finance Workshop, Australian National University, Melbourne, Australia, December 2009
              • Mutual Fund Flows, Performance Persistence, and Board Quality, FMA Annual Meeting, Financial Management Association, Reno, NV, October 2009
              • On the Consequences of Mutual Fund Tournaments, Singapore Management University Seminar, Singapore Management University, Singapore, June 2008
              • Incentive contracts in delegated portfolio management, Western Financial Association annual meetings, Western Financial Association, Hawaii, June 2008
              • Incentive Contracts in Delegated portfolio Management, WFA Annual Meeting, Western Finance Association, Kona, Hawaii, June 2008
              • On the Consequences of Mutual Fund Tournaments, Western Financial Association annual meetings, Western Financial Association, Keystone, CO, June 2006
              • On the Consequences of Mutual Fund Tournaments, WFA Annual Meeting, Western Finance Association, Keystone, CO, June 2006
              • Investing in Mutual Funds with Regime Switching, Institute for Quantitative Investment Research (INQUIRE) Conference, INQUIRE, Hamburg, Germany, March 2006
              • Investing in Mutual Funds with Regime Switching, Iowa State University Seminar, Iowa State University, Ames, Iowa, November 2005
              • On the Consequences of Mutual Fund Tournaments, Financial Management Association Annual Meeting, FMA, Chicago, IL, October 2005
              • Sector Fund Performance: Analysis of Cash Flow Volatility and Returns, University of Colorado, Burridge Center Annual Conference, University of Colorado, Boulder, CO, October 2003
              • Sector Fund Performance: Analysis of Cash Flow Volatility and Returns, Iowa State University, Iowa State University, Ames, IA, April 2003
              • Does Stock Return Predictability imply improved Asset Allocation and Does Stock Return Predictability Imply Improved Asset Allocation and Performance? Evidence from the U.S. Market (1954-98), 2002 Financial Management Association Annual Meeting, FMA, 2002
              • Does Stock Return Predictability imply improved Asset Allocation and Performance? Evidence from the U.S. Market (1954-98), American Finance Association Annual Meetings, American Finance Association, Atlanta, GA, 2002
              • Does Stock Return Momentum explain the "Smart Money" Effect?, Presented at the 2002 FMA meeting, Financial Management Association, 2002
              • Floor V/s Electronic Trading, NASDAQ-IEM Conference, University of Iowa, University of Iowa, Iowa City, IA, April 2002
              • Binomial Option Pricing Biases and Inconsistent Implied Volatilities, MidWest Finance Association Annual Meetings, Midwest Finance Association, 2001
              • Common Risk Factors and Expected Returns on Real Estate and other Financial Assets, Financial Management Association Meetings, Financial Management Association, Orlando, FL, 1999
              • The Economic value of the Amex trading floor, Western Finance Association Annual Meeting, Western Finance Association, Santa Monica, CA, 1999
              • Determinants of the Bid-Ask Spread in an Order Driven Market, Conference on Organization and Quality of Equity Markets, SBF, Bourse de Paris, Paris, Paris, France, 1996
              • Non-Separable Preferences and Consumption-based asset pricing: International evidence, Econometric Society Summer Meetings, Econometric Society, Iowa City, IA, 1996
              • Characterizing Long Horizon Returns in Equity Markets, Financial Management Association Annual Meeting, FMA, St. Louis, MO, 1994
              • On Tests of Asset Pricing Models with Time Non-Separable Preferences, Financial Management Association Annual Meeting, FMA, 1993
              • Finite Sample Properties of the Generalized Method of Moments (GMM) in Tests of Consumption-Based Asset Pricing Models, FMA Doctoral Consortium, Financial Management Association, 1992

                Committees and Professional Service

                • Educational Excellence Taskforce, 2013-current
                • Diversity Committee, 2008-current
                • University Investment Advisory Committee, 2007-current
                • Faculty Recruitment Committee, 1999-current
                • FMA Annual Meeting Program Committee, 2013
                • FMA Annual Meeting Program Committee, 2012
                • Faculty Development Advisory Committee, 2008-2010
                • Ad Hoc Committee on Collegiate Teaching Award, 2008
                • Ballard/Seashore Doctoral Fellowship Award Committee, 2007
                • University Academic Technologies Advisory Council (ATAC), 2002-2004
                • College Library Committee, 2000-2001