Ron Kaniel

Ron Kaniel

Jay S and Jeanne P Benet Professor
Area(s) of Expertise
Finance
Bio

Ron Kaniel is the Jay S. and Jeanne P. Benet Professor of Finance at the Simon Business School, University of Rochester. Kaniel is an Advisory and former Co-Editor of the Journal of Financial Economics, and is one of the founding editors of Finance Theory Insights. He has served as the President of the Finance Theory Group. He is a Research Fellow of the Center for Economic Policy Research, an honorary visiting professor at Gothenburg University, and a special term visiting professor at Fanhai International School of Finance, Fudan University.  Before joining Simon, Kaniel was a faculty member at Duke University and the University of Texas at Austin, and was a visiting scholar at Stanford University. He received a Ph.D. in finance in 1999 from the Wharton School of the University of Pennsylvania, an M.Sc. (Summa Cum Laude) in computer science in 1994 and B.Sc. (Summa Cum Laude) in mathematics and computer science in 1992 from the Hebrew University of Jerusalem. He received a European Research Council Starting Grant. He has been named to the Simon School Dean’s Teaching Honor Roll numerous times.

Courses
Capital Budgeting & Corporate Objectives
Corporate Finance
PhD Workshop in Applied Economics
Research Interests

Professor Kaniel has research interests in the areas of asset pricing, financial intermediation and investments. His research is focused on understanding mutual funds investment decisions and how they impact security prices, the impact of endogenous community effects on investors’ investment decisions and equilibrium prices, and the predictive role of changes in trading volume and investors’ order flow on security returns.

Teaching Interests

Asset Pricing

Publications
The Benefit of Voluntary Costly Disclosure of Redundant Information
2023
Journal of Economic Theory
Machine-Learning the Skill of Mutual Fund Managers
2023
Journal of Financial Economics
Issue
150
Volume
1
Contracting in Peer Networks
2023
Journal of Finance
Filing Speed, Information Leakage, and Price Formation
2023
Review of Accounting Studies
The Real Side of the High-Volume Return Premium
2022
Management Science
Issue
2
Volume
68
Using Machine Learning to Predict Mutual Fund Performance
2022
NBER Digest
Impact of Managerial Commitment on Risk Taking with Dynamic Fund Flows
2019
Management Science
Issue
7
Volume
65
Are Mutual Fund Managers Paid for Investment Skill?
2018
Review of Financial Studies
Issue
2
Volume
31
Report on Are Mutual Fund Managers Paid for Investment Skill?
2017
Harvard Law School Forum of Corporate Governance and Financial Regulation
What mutual fund manager compensation data tell us about the relationship between firms and their key employees
2017
VOX CEPR's Policy Portal
WSJ Category Kings - the impact of media attention on consumer and mutual fund investment decisions
2017
Journal of Financial Economics
Issue
2
Volume
123
Media attention and investment decisions
2016
VOX CEPR's Policy Portal
Are retail traders compensated for providing liquidity?
2016
Journal of Financial Economics
Volume
120
Asset Return Predictability in a Heterogeneous Agent Equilibrium Model
2015
Quarterly Journal of Finance
Issue
2
Volume
5
A Delegated Lucas-tree
2013
Review of Financial Studies
Issue
4
Volume
26
Investor Trading and Return Patterns around Earnings Announcements
2012
Journal of Finance
Equilibrium Prices in the presence of Delegated Portfolio Management
2011
Journal of Financial Economics
Issue
2011
Volume
101
Mutual Fund Portfolio Choice in the Presence of Dynamic Flows
2010
Mathematical Finance
Issue
2010
Volume
20(2)
Price Drift as an Outcome of Differences in Higher Order Beliefs
2009
Review of Financial Studies
Issue
2009
Volume
22
Efficient Computation of Hedging Parameters for Discretely Exercisable Options
2008
Operations Research
Issue
2008
Volume
56(4)
Individual Investor Trading and Stock Returns
2008
Journal of Finance
Issue
2008
Volume
63(1)
Relative Wealth Concerns and Financial Bubbles
2008
Review of Financial Studies
Issue
2008
Volume
21(1)
Technological Innovation and Real Investment Booms and Busts
2007
Journal of Financial Economics
Issue
2007
Volume
85(3)
So What Orders do Informed Traders Use?
2006
Journal of Business
Issue
2006
Volume
79(4)
Tax Management Strategies with Multiple Risky Assets
2006
Journal of Financial Economics
Issue
2006
Volume
80(2)
Diversification as a Public Good: Community Effects in Portfolio Choice
2004
Journal of Finance
Issue
2004
Volume
59(4)
Leaning for the Tape: Evidence of Gaming Behavior in Equity Mutual Funds
2002
Journal of Finance
Issue
2002
Volume
57(2)
The High Volume Return Premium
2001
Journal of Finance
Issue
2001
Volume
56(3)
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