Sheridan Dean Titman is a professor of finance at the

University of Texas at Austin The University of Texas at Austin (UT Austin, UT, or Texas) is a public research university in Austin, Texas. It was founded in 1883 and is the oldest institution in the University of Texas System. With 40,916 undergraduate students, 11,075 ...

, where he holds the McAllister Centennial Chair in Financial Services at the

McCombs School of Business The McCombs School of Business (McCombs School or McCombs) is a business school at The University of Texas at Austin, a public research university in Austin, Texas. In addition to the main campus in Downtown Austin, McCombs offers classes outside ...

. He received a B.S. degree (1975) from the

University of Colorado The University of Colorado (CU) is a system of public universities in Colorado. It consists of four institutions: University of Colorado Boulder, University of Colorado Colorado Springs, University of Colorado Denver, and the University of Co ...

and an M.S. (1978) and Ph.D. (1981) from

Carnegie Mellon University Carnegie Mellon University (CMU) is a private research university in Pittsburgh, Pennsylvania. One of its predecessors was established in 1900 by Andrew Carnegie as the Carnegie Technical Schools; it became the Carnegie Institute of Technology ...

Career

Titman previously taught at

UCLA The University of California, Los Angeles (UCLA) is a public land-grant research university in Los Angeles, California. UCLA's academic roots were established in 1881 as a teachers college then known as the southern branch of the California St ...

, where he was the chair for the department of finance. 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. From 1994 to 1997, he served as the John J. Collins, S.J. Chair in Finance at

Boston College Boston College (BC) is a private Jesuit research university in Chestnut Hill, Massachusetts. Founded in 1863, the university has more than 9,300 full-time undergraduates and nearly 5,000 graduate students. Although Boston College is classifie ...

. From 1988–89, Titman worked in Washington D.C. as the special assistant to the Treasury Assistant Secretary for Economic Policy. Titman's academic publications include articles on

asset pricing In financial economics, asset pricing refers to a formal treatment and development of two main Price, pricing principles, outlined below, together with the resultant models. There have been many models developed for different situations, but cor ...

corporate finance Corporate finance is the area of finance that deals with the sources of funding, the capital structure of corporations, the actions that managers take to increase the Value investing, value of the firm to the shareholders, and the tools and anal ...

, and

real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...

. Sheridan won the

Smith-Breeden Prize ''The Journal of Finance'' is a peer-reviewed academic journal published by Wiley-Blackwell on behalf of the American Finance Association. It was established in 1946 and is considered to be one of the premier finance journals. The editor-in-chief i ...

for the best finance research paper published in the '' Journal of Finance'', the GSAM best paper award for the ''

Review of Finance The ''Review of Finance'' is a bimonthly peer-reviewed academic journal covering all aspects of financial economics. It is published by Oxford University Press and is the official journal of the European Finance Association. The editor-in-chief is ...

'' and was a recipient of the Batterymarch Fellowship. Titman served on the editorial boards of the '' Journal of Finance'' and the ''

Review of Financial Studies ''The Review of Financial Studies'' is a peer-reviewed academic journal covering the field of finance. It is published by Oxford University Press on behalf of the Society for Financial Studies. It was established following discussions at the 19 ...

''. He 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''. In 2012 he succeeded

Raghuram Rajan Raghuram Govind Rajan (born 3 February 1963) is an Indian economist and the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. Quote: "I am an Indian citizen. I have always b ...

as the President of the American Finance Association and served as the President of the

Western Finance Association The Western Finance Association (WFA) is an international professional society for academicians and practitioners with a scholarly interest in the development and application of research in finance. Its purpose is: *to serve as a focal point for c ...

. He has also served as Director of the Asia Pacific Finance Association and the Financial Management Association.

Momentum investing

Titman's most well known research has been on Momentum investing. Momentum investing is an investment strategy that aims to capitalize on the continuance of existing trends in the market. In 1993, Narasimhan Jegadeesh and Titman published ''Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency''. A study economist Robert Shiller called a bombshell. Follow up research on Titman's momentum paper has been done in academia and private organizations such as

Cliff Asness Clifford Scott Asness (; born October 17, 1966) is an American hedge fund manager and the co-founder of AQR Capital Management. Early life and early education Asness was born to a Jewish family, in Queens, New York, the son of Carol, who ran a ...

's AQR Capital Management. Investment managers such as Paul Woolly have criticized Momentum Investing, claiming it leads to asset bubbles.

Select awards and honors

Smith Breeden Prize ''The Journal of Finance'' is a peer-reviewed academic journal published by Wiley-Blackwell on behalf of the American Finance Association. It was established in 1946 and is considered to be one of the premier finance journals. The editor-in-chief i ...

for best paper in the '' Journal of Finance'', 1997 * Batterymarch Fellowship, 1985 * President of the American Finance Association, 2012 *

Institute for Scientific Information highly cited researcher The Institute for Scientific Information (ISI) was an academic publishing service, founded by Eugene Garfield in Philadelphia in 1956. ISI offered scientometric and bibliographic database services. Its specialty was citation indexing and analysis, ...

Selected bibliography

Books

* Keown, Arthur; John Martin; Sheridan Titman (2010). ''Financial Management: Principles and Applications''.

Prentice Hall Prentice Hall was an American major educational publisher owned by Savvas Learning Company. Prentice Hall publishes print and digital content for the 6–12 and higher-education market, and distributes its technical titles through the Safari B ...

. * Titman, Sheridan; John Martin (2007). ''Valuation: The Art and Science of Corporate Investment Decisions''. Reading, MA:

Addison-Wesley Addison-Wesley is an American publisher of textbooks and computer literature. It is an imprint of Pearson PLC, a global publishing and education company. In addition to publishing books, Addison-Wesley also distributes its technical titles through ...

. *

Articles

* 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?. ''

''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 The ''Journal of Applied Corporate Finance'' is a quarterly academic journal covering research in corporate finance, including risk management, corporate strategy, corporate governance, and capital structure. It also features roundtable discussio ...

'' 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. ''

''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.

References

External links

Gerstein Fisher Bio
{{DEFAULTSORT:Titman, Sheridan Boston College faculty Tepper School of Business alumni Living people University of Colorado alumni McCombs School of Business faculty UCLA Anderson School of Management faculty 1954 births Presidents of the American Finance Association