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May 23, 1954 |
|Institution||McCombs School of Business|
|Field||Financial economics, including energy finance, investment banking, and real estate finance|
|Alma mater||Carnegie Mellon University
University of Colorado
|Awards||Smith Breeden Prize, 1997
Batterymarch Fellowship, 1985
|Information at IDEAS / RePEc|
Sheridan Dean Titman is a professor of finance at The University of Texas at Austin, where he holds the McAllister Centennial Chair in Financial Services at the McCombs School of Business, and is a research associate of the National Bureau of Economic Research. He also serves as an academic advisor to the registered investment advisory firm, Gerstein Fisher. He holds a B.S. degree from the University of Colorado and an M.S. and Ph.D. from Carnegie Mellon University in 1981 for thesis titled The effect of capital structure on a firm's liquidation decision under the supervision of Scott F. Richard and Dennis Epple.
Titman taught at UCLA for over 10 years where, in addition to his teaching and research activities, he served as the chair for the department of finance and as the vice chairman of the UCLA management school faculty. Between 1992 and 1994, he was one of the founding professors of the School of Business and Management at the Hong Kong University of Science and Technology where he was the vice chairman of the faculty and the chairman of the faculty appointments committee. From 1994 to 1997, he served as the John J. Collins, S.J. Chair in Finance at Boston College. In the 1988–89, academic year Titman worked in Washington D.C. as the special assistant to the Treasury Assistant Secretary for Economic Policy.
Titman’s academic publications include both theoretical and empirical articles on asset pricing, corporate finance, and real estate, and have been widely recognized for their excellence. Sheridan won the Smith-Breeden Prize for the best finance research paper published in the Journal of Finance, the GSAM best paper award for the Review of Finance and was a recipient of the Batterymarch Fellowship. Titman has served on the editorial boards of leading academic journals, including the Journal of Finance and the Review of Financial Studies. He has also co-authored three finance textbooks, Financial Markets and Corporate Strategy, Valuation: The Art and Science of Corporate Investment Decisions, and Financial Management: Principles and Applications.
He was the President of American Finance Association in 2012 and also served as the President of the Western Finance Association. He has also served as Directors of the American Finance Association, the Western Finance Association, the Asia Pacific Finance Association and the Financial Management Association.
Select awards and honors
- Smith Breeden Prize for best paper in the Journal of Finance, 1997
- Batterymarch Fellowship, 1985
- Institute for Scientific Information highly cited researcher
- Keown, Arthur; John Martin; Sheridan Titman (2010). Financial Management: Principles and Applications. Prentice Hall. ISBN 978-0132544337
- Titman, Sheridan; John Martin (2007). Valuation: The Art and Science of Corporate Investment Decisions. Reading, MA: Addison-Wesley. ISBN 978-0-321-33610-1
- Grinblatt, Mark; Sheridan Titman (2002). Financial Markets and Corporate Strategy. Boston: McGraw-Hill. ISBN 0-07-229433-7.
- "The Impact of Debt on Management Incentives," in The High Yield Debt Market: Investment Performance and Economic Impact, (ed. Edward Altman), Dow Jones Irwin, Homewood, Illinois, 1990.
- "Issuing Equity Under Asymmetric Information," (with Kent Daniel), in North Holland Handbook of Finance, Jarrow, Maksimovic and Ziemba editors, North-Holland: Amsterdam, 1995.
- "Performance Evaluation," (with Mark Grinblatt), in North Holland Handbook of Finance, Jarrow, Maksimovic and Ziemba editors, North-Holland: Amsterdam, 1995.
- "Corporate groups, financial liberalization and growth: The case of Indonesia," (with Andy Chui and K.C. John Wei), in Financial Structure and Growth, Demirguc-Kunt and Levine editors, MIT Press, 2001.
- "Capital Structure and Corporate Strategy," (with Chris Parson) in North Holland Handbook of Corporate Finance, Espen Eckbo editor, North-Holland: Amsterdam, 2007.
- Larry Lake, John Martin, Douglas Ramsey, and Sheridan Titman. 2013. A Primer on the Economics of Shale Gas Production. Journal of Applied Corporate Finance.
- Sheridan Titman and Garry Twite. 2013. Urban Density, Law and the Duration of Real Estate Leases. Journal of Urban Economics 74, 99–112.
- Armen Hovakimian, Ayla Kayhan, and Sheridan Titman. 2012. Are Corporate Default Probabilities Consistent with the Static Tradeoff Theory?. Review of Financial Studies 25, 315–340.
- Ravi Anshuman, John Martin, and 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.
- Ron Kaniel, Shumin Liu, Gideon Saar, and Sheridan Titman. 2012. Individual Investor Trading and Return Patterns around Earnings Announcements. Journal of Finance 67, 639–680.
- Joseph Fan, Sheridan Titman, and Garry Twite. 2012. An International Comparison of Capital Structure and Debt Maturity Choices. Journal of Financial and Quantitative Analysis 47, 23–56.
- Narasimhan Jegadeesh and Sheridan Titman. 2011. Momentum. Annual Review of Financial Economics 3, 493–509.
- Sheridan Titman and Cristian-Ioan Tiu. 2011. Do the Best Hedge Funds Hedge?. Review of Financial Studies 24, 123–168.
- Ravi Anshuman, John Martin, and Sheridan Titman. 2011. Accounting for Sovereign Risk When Investing in Emerging Markets. Journal of Applied Corporate Finance 23, 41–49.
- Eric Jacquier, Sheridan Titman, and Atakan Yalçin. 2010. Predicting systematic risk: Implications from growth options. Journal of Empirical Finance 17, 991–1005.
- Sheridan Titman and Sergey Typlakov. 2010. Originator Performance, CMBS Structures and Yield Spreads of Commercial Mortgages. Review of Financial Studies 23, 3558–3594.
- Jay Hartzell, Toby Muhlhofer, and Sheridan Titman. 2010. Alternative Benchmarks for Evaluating Mutual Fund Performance. Real Estate Economics 38, 121–154.
- Sheridan Titman. 2010. The Leverage of Hedge Funds. Financial Research Letters 7, 2–7.
- Andres Almazan, Adolfo de Motta, Sheridan Titman, and Vahap Uysal. 2010. Financial Structure, Acquisition Opportunities, and Firm Locations. Journal of Finance 65, 529–563.
- Andy Chui, Sheridan Titman, and John Wei. 2010. Individualism and Momentum around the World. Journal of Finance 65, 361–392.
- Sheridan Titman, John Wei, and Feixue Xie. 2009. Capital Investments and Stock Returns in Japan. International Review of Finance 9,111–131.
- Andres Almazan, Javier Suarez, and Sheridan Titman. 2009. Firm's Stakeholders and the Costs of Transparency. Journal of Economics & Management Strategy 18, 871–900.
- Chris Parsons and Sheridan Titman. 2009. Empirical Capital Structure: A Review. Foundations and Trends in Finance 3, 1–93.
- Ron Kaniel, Gideon Saar, and Sheridan Titman. 2008. Individual Investor Trading and Stock Returns. Journal of Finance 63, 273–310.
- John Martin and Sheridan Titman. 2008. Single vs. Multiple Discount Rates: How to Limit. Journal of Applied Corporate Finance 20, 79–83.
- Murray Carlson, Zeigham Khokher, and Sheridan Titman. 2007. Equilibrium Exhaustible Resource Price Dynamics. Journal of Finance 62, 1663–1703.
- Tim Adam, Sudipto Dasgupta, and Sheridan Titman. 2007. Financial Constraints, Competition, and Hedging in Industry Equilibrium. Journal of Finance 62, 2445–2473.
- Andres Almazan, Adolfo de Motta, and Sheridan Titman. 2007. Firm Location and the Creation and Utilization of Human Capital. Review of Economics Studies 74, 1305–27.
- Ayla Kayhan and Sheridan Titman. 2007. Firms' histories and their capital structures. Journal of Financial Economics 83, 1–32.
- Fritz Foley, Jay Hartzell, Sheridan Titman, and Garry Twite. 2007. Why Do Firms Hold So Much Cash? A Tax-Based Explanation. Journal of Financial Economics 86, 579–607.
- "McCombs Faculty Expertise Guide". Acsprod.mccombs.utexas.edu. 2014-02-04. Retrieved 2014-05-05.
- "Gerstein Fisher Academic Partners". Gersteinfisher.com. Retrieved 2014-05-05.
- Titman, Sheridan. "The effect of capital structure on a firm's liquidation decision". ProQues. Retrieved 14 January 2014.
- "Carnegie Mellon doctoral newsletter, August 2004". Retrieved 2014-05-05.
- "Amazon listing for Financial Markets and Corporate Strategy". Amazon.com. Retrieved 2014-05-05.