Norman Schürhoff

Swiss Finance Institute Professor of Finance

CV | norman.schuerhoff[at]unil.ch | tel: +41 (0)21 692 3447 | postal: Université de Lausanne | Ecole des HEC | Extranef 239 | CH-1015 Lausanne

Working papers - updated 10 Feb 2018

• The Cost Burden of Negotiated Sales Restrictions: A Natural Experiment Using Heterogeneous State Laws (with Darío Cestau, Richard C. Green and Burton Hollifield)
• Relationship Trading in OTC Markets (with Terrence Hendershott, Dan Li and Dmitry Livdan)
• Variance risk, financial intermediation, and the cross-section of expected option returns (with Alexandre Ziegler)

Cost of lead-time calculator - updated 10 Feb 2018

• OpLab | Cost Differential Frontier tool by Suzanne de Treville and Norman Schürhoff
• Assess Costs Everywhere initiative by the U.S. Department of Commerce
• CDF Tool on the KMU Portal by the Swiss Department of Commerce (SECO)

Publications - updated 10 Feb 2018

• Dealer Networks (with Dan Li), Journal of Finance forthcoming
• Agency Conflicts Around the World (with Erwan Morellec and Boris Nikolov), Review of Financial Studies forthcoming
• Are Institutions Informed About News? (with Terrence Hendershott and Dmitry Livdan), Journal of Financial Economics 117(2), 2015, 249–287
• Rating-Based Investment Practices and Bond Market Segmentation (with Zhihua Chen, Aziz A. Lookman and Duane J. Seppi; Editor’s Choice; RAPS Best Paper Award 2015), Review of Asset Pricing Studies 4(2), 2014, 162-205
• Valuing Lead Time (with Suzanne de Treville, Isik Bicer, Valérie Chavez-Demoulin, Verena Hagspiel, Christophe Tasserit, Stefan Wager), Journal of Operations Management 32(6), 2014, 337–346
• Optimal Sourcing and Lead-Time Reduction under Evolutionary Demand Risk (with Suzanne de Treville, Lenos Trigeorgis, Benjamin Avanzi), Production and Operations Management 23(12), 2014, 2103–2117
• Tax-subsidized underpricing: The market for Build America Bonds (with Dario Cestau and Richard C. Green), Journal of Monetary Economics 60(5), 2013, 593–608
• Corporate Governance and Capital Structure Dynamics (with Erwan Morellec and Boris Nikolov), The Journal of Finance 67(3), 2012, 803–848
• Corporate Investment and Financing under Asymmetric Information (with Erwan Morellec), Journal of Financial Economics 99(2), 2011, 262–288
• Price Discovery in Illiquid Markets: Do Financial Asset Prices Rise Faster Than They Fall? (with Richard C. Green and Dan Li; Smith Breeden Prize 2010 Distinguished Paper), The Journal of Finance 65(5), 2010, 1669-1702
• Dynamic Investment and Financing under Personal Taxation (with Erwan Morellec), Review of Financial Studies 23(1), 2010, 101-146
• Financial Intermediation and the Costs of Trading in an Opaque Market (with Richard C. Green and Burton Hollifield), Review of Financial Studies 20(2), 2007, 275-314
• Dealer Intermediation and Price Behavior in the Aftermarket for New Bond Issues (with Richard C. Green and Burton Hollifield), Journal of Financial Economics 86(3), 2007, 643-682

Teaching - updated 10 Feb 2018

• Moodle2 (new material)
• Documents HEC (old material)