Timothy Loughran
C.R. Smith Professor of Finance
Finance
574-631-8432
245 Mendoza College of Business
- Biography
- Background
- Publications
- Awards
Tim Loughran joined the Notre Dame faculty in the fall of 1999 and is the C.R. Smith Professor of Finance. Research areas explored by Professor Loughran include the use of textual analysis to gauge the tone of financial documents, the long-run performance of new issues, and the payment form in corporate acquisitions. His paper with Bill McDonald, “When is a Liability not a Liability? Textual Analysis, Dictionaries, and 10-Ks”, is the 23rd most cited paper of all papers published in the Journal of Finance (the top finance journal in the world). Tim has won numerous teaching awards including Outstanding Teacher Award for the Executive MBA Chicago Program (2006), the Joyce Award for Excellence in Undergraduate Teaching (2008), the MSF Outstanding Faculty (2017 and 2022), and the Outstanding Undergraduate Professor Award – Finance (2023). He has been an Associate Editor at several different journals including the Journal of Financial Economics and Financial Analysts Journal. Professor Loughran currently teaches Security Analysis to the undergraduates and Equity Valuation to the EMBA students. Tim received a Ph.D. degree from the University of Illinois (Urbana) and is a CFA Charterholder.
Education
BA, University of Illinois at Urbana-Champaign
MBA, Indiana University
Ph D, University of Illinois at Urbana-Champaign
Areas of Expertise
Behavioral Finance
Textual Analysis
Editorial Boards
Editorial Board Member
Journal of Risk and Financial Management
September 17, 2020 - December 31, 2023
Journal of Risk and Financial Management
September 17, 2020 - December 31, 2023
Associate Editor & Editorial Board
Review of Quantitative Finance and Accounting
January 1, 2002 - December 31, 2023
Review of Quantitative Finance and Accounting
January 1, 2002 - December 31, 2023
Associate Editor & Editorial Board
Journal of Behavioral Finance
January 1, 2000 - December 31, 2023
Journal of Behavioral Finance
January 1, 2000 - December 31, 2023
Associate Editor & Editorial Board
Financial Analysts Journal
January 1, 2016 - December 31, 2021
Financial Analysts Journal
January 1, 2016 - December 31, 2021
Associate Editor & Editorial Board
Journal of Financial Economics
January 1, 2006 - July 16, 2019
Journal of Financial Economics
January 1, 2006 - July 16, 2019
Associate Editor & Editorial Board
Journal of Financial Research
January 1, 2006 - December 31, 2017
Journal of Financial Research
January 1, 2006 - December 31, 2017
Associate Editor & Editorial Board
Journal of Corporate Finance
January 1, 2002 - December 31, 2017
Journal of Corporate Finance
January 1, 2002 - December 31, 2017
Associate Editor & Editorial Board
International Journal of Portfolio Analysis and Management
January 1, 2011 - December 31, 2014
International Journal of Portfolio Analysis and Management
January 1, 2011 - December 31, 2014
Associate Editor & Editorial Board
The Open Ethics Journal
January 1, 2008 - December 31, 2013
The Open Ethics Journal
January 1, 2008 - December 31, 2013
Associate Editor & Editorial Board
Journal of Banking and Finance
January 1, 2006 - December 31, 2008
Journal of Banking and Finance
January 1, 2006 - December 31, 2008
"Do Factors Matter?", Critical Finance Review - Accepted (awaiting publication)
"How Have Corporate Codes of Ethics Responded to an Era of Increased Scrutiny?", (With Bill McDonald, James Otteson), Journal of Business Ethics, 83, 2023
"Measuring Firm Complexity", (With Bill McDonald), Journal of Financial and Quantitative Analysis - Accepted (awaiting publication)
"Textual Analysis in Finance", (With Bill McDonald), Annual Review of Financial Economics, 12, 2020
"Dissemination of Oil News into Prices", (With Bill McDonald, Ioannis Pragidis), International Review of Financial Analysis, 63, 2019
"Using Annual Report Sentiment as a Proxy for Financial Distress in U.S. Banks", (With Priyank Gandhi, Bill McDonald), Journal of Behavioral Finance, 20, 2019
"Linguistic Tone and the Small Trader: Measurement Issues, Regulatory Implications, and Directions for Future Research", Accounting, Organizations and Society, 68-69, 2018
"The Use of EDGAR Filings by Investors", (With Bill McDonald), Journal of Behavioral Finance, 18, 2017
"Textual Analysis in Accounting and Finance: A Survey", (With Bill McDonald), Journal of Accounting Research, 54, 2016
"Trust, but Verify: MD&A Language and the Role of Trust in Corporate Culture", (With Robert Audi, Bill McDonald), Journal of Business Ethics, 139, 2016
"Old Glass Ceilings are Hard to Break: Gender Usage Trends in Annual Reports", (With Bill McDonald), Studies in Communication Sciences, 15, 2015
"The Use of Word Lists in Textual Analysis", (With Bill McDonald), Journal of Behavioral Finance, 16, 2015
"Using 10-K Text to Gauge Financial Constraints", (With Andriy Bodnaruk, Bill McDonald), Journal of Financial and Quantitative Analysis, 50, 2015
"Measuring Readability in Financial Disclosures", (With Bill McDonald), Journal of Finance, 69, 2014
"Regulation and Financial Disclosure: The Impact of Plain English", (With Bill McDonald), Journal of Regulatory Economics, 45, 2014
"IPO First-Day Returns, Offer Price Revisions, Volatility, and Form S-1 Language", (With Bill McDonald), Journal of Financial Economics, 109, 2013
"Barron’s Red Flags: Do They Actually Work?", (With Bill McDonald), Journal of Behavioral Finance, 2011
"New Evidence on the Relation between the Enterprise Multiple and Average Stock Returns", (With Jay Wellman), Journal of Financial and Quantitative Analysis, 2011
"The Impact of Venture Capital Investments on Public Firm Stock Performance", (With Sophie Shive), Journal of Behavioral Finance, 2011
"When is a Liability not a Liability? Textual Analysis, Dictionaries, and 10 Ks", (With Bill McDonald), Journal of Finance, 2011
"Who Benefited from the Disclosure Mandates of the 1964 Securities Acts Amendments?", (With Robert Battalio, Brian Hatch), Journal of Corporate Finance, 2011
"A Wolf in Sheep’s Clothing: The Use of Ethics-Related Terms in 10-K Reports", (With Bill McDonald, Hayong Yun), Journal of Business Ethics, 89, 2009
"Commonality in Codes of Ethics", (With Margaret Forster, Bill McDonald), Journal of Business Ethics, 90, 2009
"Does Payment for Order Flow to Your Broker Help or Hurt You?", (With Robert Battalio), Journal of Business Ethics, 80, 2008
"The Impact of Firm Location on Equity Issuance", Financial Management, 37, 2008
"Geographic Dissemination of Information", Journal of Corporate Finance, 13, 2007
"The Geography of S&P 500 Stock Returns", (With David Barker), Journal of Behavioral Finance, 8, 2007
"Mutual Fund Incubation and the Role of the Securities and Exchange Commission", (With Carl Ackermann), Journal of Business Ethics, 70, 2007
"Do Investors Capture the Value Premium?", (With Todd Houge), Financial Management, 35, 2006
Award
"Outstanding Undergraduate Professor Award – Finance", University of Notre Dame, 2023
"Outstanding Teacher Award, MSF Program", University of Notre Dame, 2022
"Outstanding Teacher Award, MSF Program", University of Notre Dame, 2017
"Winner of the 2014 Hillcrest Behavioral Finance Award", Hillcrest Asset Management, 2014
"Joyce Award for Excellence in Undergraduate Teaching", University of Notre Dame , 2008
"Outstanding Teacher Award, Executive MBA Chicago", 2006