Shane Corwin is a Professor in the Department of Finance and serves as the Research Director of the Notre Dame Institute for Global Investing. Professor Corwin received a B.S. and an MBA from Mankato State University and a Ph.D. in Finance from The Ohio State University. He was an Assistant Professor at the University of Georgia prior to joining the University of Notre Dame in the fall of 2000.
Professor Corwin teaches applied investment management (AIM), security analysis, and investments at the undergraduate, graduate, and exec level and has received several teaching awards at Notre Dame, including the Rev. Edmund P. Joyce, C.S.C. Award for Excellence in Undergraduate Teaching, the Kaneb Teaching Award, the BP Outstanding Teacher Award, and the Chicago EMBA Outstanding Professor Award. Shane is the proud father of four children and enjoys spending time with his family. He and his family also lived in London for a semester, where he taught in Notre Dame’s London Undergraduate Program.
Professor Corwin’s research focuses on security market design and investment banking. He has published articles in numerous finance journals, including the Journal of Finance, the Journal of Financial Economics, the Journal of Financial Markets, the Journal of Financial Intermediation, and Financial Management. In recent articles, he has studied the role of limited attention in securities trading, the measurement of transaction costs, conflicts of interest related to maker-taker fees on U.S. stock exchanges. Professor Corwin has also served as a member of the Nasdaq Economic Advisory Board and has been awarded research grants from the Notre Dame Deloitte Center for Ethical Leadership, Morgan Stanley, and the Q-Group.
"Investment Banking Relationships and Analyst Affiliation Bias: The Impact of Global Settlement on Sanctioned and Non-Sanctioned Banks", (With Stephannie Larocque, Mike Stegemoller), Journal of Financial Economics, 124, 2017
"Unrecognized Odd Lot Liquidity Supply: A Hidden Trading Cost for High Priced Stocks", (With Robert Battalio, Robert Jennings), Journal of Trading, 12, 2017
"Can Brokers Have it All? On the Relation between Make-Take Fees and Limit Order Execution Quality", (With Robert Battalio, Robert Jennings), Journal of Finance, 71, 2016
"A Simple Way to Estimate Bid-Ask Spreads from Daily High and Low Prices", (With Paul Schultz), Journal of Finance, 67, 2012
"When a Halt is Not a Halt: An Analysis of Off-NYSE Trading during NYSE Market Closures", (With Bidisha Chakrabarty, Marios Panayides), Journal of Financial Intermediation, 20, 2011
"Order Characteristics and the Sources of Commonality in Prices and Liquidity", (With Marc Lipson), Journal of Financial Markets, 14, 2011
"Limited Attention and the Allocation of Effort in Securities Trading", (With Jay Coughenour), Journal of Finance, 63, 2008
"The Role of IPO Underwriting Syndicates: Pricing, Information Production, and Underwriter Competition", (With Paul Schultz), Journal of Finance, vol. 60(1), 2005
"Specialist Performance and New Listing Allocations on the NYSE: An Empirical Analysis", Journal of Financial Markets, vol. 7(1), 2004
"The Development of Secondary Market Liquidity for NYSE-Listed IPOs", (With Jeffrey Harris, Marc Lipson), Journal of Finance, vol. 59(5), 2004
"The Determinants of Underpricing for Seasoned Equity Offers", Journal of Finance, vol. 58(5), 2003
"Nasdaq Trading Halts: The Impact of Market Mechanisms on Prices, Trading Activity, and Execution Costs", (With William Christie, Jeffrey Harris), Journal of Finance, vol. 57(3), 2002
"The Initial Listing Decisions of Firms that Go Public", (With Jeffrey Harris), Financial Management, vol. 30(1), 2001
"Order Flow and Liquidity Around NYSE Trading Halts", (With Marc Lipson), Journal of Finance, vol. 55(4), 2000
"Differences in Trading Behavior Across NYSE Specialist Firms", Journal of Finance, vol. 54(2), 1999
"James Dincolo Outstanding Teaching Award", University of Notre Dame, Mendoza College of Business, 2019
"Office of the Dean Mission Award", Mendoza College of Business, 2017
"Rev. Edmund P. Joyce, C.S.C., Award for Excellence in Undergraduate Teaching", University of Notre Dame, 2013
"Chicago Executive MBA Outstanding Faculty Award", 2008
"BP Oustanding Teacher Award", University of Notre Dame, 2006