Brad Barber's Papers on SSRN and Google Scholar Page 

Work in Progress

  1. “Do Investors Overvalue Startups? Evidence from the Junior Stakes of Mutual Funds,” with V. Agarwal, S. Cheng, A. Hameed, H. Shanker, and A. Yasuda.

  2. “Leveraging Overconfidence,” with X. Huang, J. Ko, and T. Odean.

  3. “Family, Values, and Women in Finance,” with R. Adams and T. Odean.

Published Papers

  1. “The 'Actual Retail Price' of Equity Trades,” with X. Huang, P. Jorion, T. Odean, and C. Schwarz, forthcoming, Journal of Finance.

  2. “A (Sub)penny For Your Thoughts: Tracking Retail Investor Activity in TAQ,” with X. Huang, P. Jorion, T. Odean, and C. Schwarz, forthcoming, Journal of Finance.

  3. “Resolving a Paradox: Retail Trades Positively Predict Returns but are not Profitable,” with S. Lin and T. Odean, forthcoming, Journal of Financial and Quantitative Analysis.

  4. “Private Company Valuations by Mutual Funds,” with V. Agarwal, S. Cheng, A. Hameed, and A. Yasuda, v.27, 693-738, Review of Finance, 2023.

  5. “The Math Gender Gap and Women’s Career Outcomes,” with R. Adams, and T. Odean, forthcoming, Journal of Investment Management, 2023.

  6. “Attention-Induced Trading and Returns: Evidence from Robinhood,” with X. Huang, T. Odean, and C. Schwarz, v.77, p.3141-3190, Journal of Finance, 2022.

  7. “What Explains Differences in Finance Research Productivity during the Pandemic?” with W. Jiang, A. Morse, M. Puri, H. Tookes, and I. Werner, v.76, p.1655-1697, Journal of Finance, 2021.

  8. “Impact Investing,” with A. Morse and A. Yasuda, v.139, p.162-185, Journal of Financial Economics, 2021.

  9. “Learning, Fast or Slow,” with Y. Lee, Y. Liu, T. Odean, and K. Zhang, v.20, p.61-93, Review of Asset Pricing Studies, 2020.

  10. “STEM Parents and Women in Finance,” with R. Adams and T. Odean, Financial Analysts Journal, v.74, p.84-97, 2018.

  11. “Made Poorer by Choice: Worker Outcomes in Social Security v. Private Retirement Accounts,” with J. Ahmed and T. Odean., Journal of Banking and Finance, v.92, p.311-322, 2018.

  12. “The Impact of Interim Performance on Private Equity Fundraising,” with A. Yasuda., Journal of Financial Economics, v.124, p.172-194, 2017.

  13. “Which Factors Matter to Investers? Evidence from Mutual Fund Flows,” with X. Huang and T. Odean., Review of Financial Studies, v.29, no.10, p.2600-42, 2016.

  14. "The Cross-Section of Speculator Skill: Evidence from Day Trading," with Y. Lee, Y. Liu, and T. Odean, Journal of Financial Markets, v.18, p.1-26, 2014.

  15. "The Earnings Announcement Premium around the Globe," with E. DeGeorge, R. Lehavy, and B. Trueman, Journal of Financial Economics, vol.108, no.1, p.118-38, 2013.

  16. "The Behavior of Individual Investors," with T. Odean, chapter in Handbook of the Economics of Finance, Elsevier, edited by Constantnides, Harris, and Stulz, p.1533-69, 2013.

  17. "Do (Some) University Endowments earn Alpha," with G. Wang, Financial Analysts' Journal, v.69, no.5, p. 26-44, 2013.

  18. "Once Burned, Twice Shy: How Naive Learning and Counterfactuals affect the Purchase of Stocks Previously Sold," with T. Odean and M. Strahlevitz, Journal of Marketing Research, vol. 48, pp.S102-S120, 2011.

  19. "Ratings Changes, Ratings Levels, and the Predictive Value of Analysts' Recommendations," with R. Lehavy and B. Trueman, Financial Management, vol.30, no.2, pp.533-553, 2010.

  20. "Systematic Noise," with T. Odean and N. Zhu, Journal of Financial Markets, vol.22, no.4, pp.547-569, 2009.

  21. "Just How Much Do Individual Investors Lose by Trading?" with Y. Lee, Y. Liu, and T. Odean, Review of Financial Studies, vol. 22, no.2, pp.609-632, 2009.

  22. "Do Retail Trades Move Markets?" with T. Odean and N. Zhu, Review of Financial Studies, vol. 22, no.1, pp.151-186, 2009.

  23. “All that Glitters: The Effect of Attention on the Buying Behavior of Individual and Institutional Investors," with T. Odean, Review of Financial Studies, vol.21, no.2, pp.785-818, 2008.

  24. "Monitoring the Monitor: Evaluating CalPERS' Activism," Journal of Investing, pp.66-80, Winter 2007.

  25. “Comparing the Stock Recommendation Performance of Investment Banks and Independent Research Firms,” with R. Lehavy and B. Trueman, Journal of Financial Economics, vol.85, no.2, pp.490-517, 2007.

  26. “Buys, Holds, and Sells: The Distribution of Investment Banks' Stock Ratings and the Implications for the Profitability of Analysts' Recommendations,” with R. Lehavy, M. McNichols, and B. Trueman, Journal of Accounting and Economics, vol.41, no.1-2, pp.87-117, April 2006.

  27. “Out of Sight, Out of Mind: The Effects of Expenses on Mutual Fund Flows,” with T. Odean and L. Zheng, Journal of Business, vol.78, no.6, pp. 2095-2119, November 2005.

  28. “Are Individual Investors Tax Savvy? Evidence from Retail and Discount Brokerage Accounts,” with T. Odean, Journal of Public Economics, vol.88, no.1-2, pp.419-442, January 2004.

  29. “Good Rationales Sell: Rationale-Based Choice Among Group and Individual Investors in the Stock Market,” with T. Odean and C. Heath, Management Science, vol.49, no.12, pp.1636-52, December 2003.

  30. “Prophets and Losses: Reassessing the Returns to Analysts’ Recommendations,” with R. Lehavy, M. McNichols, and B. Trueman, Financial Analyst Journal, vol.59, no.2, pp.88-96, March/April 2003.

  31. “Online Investors: Do the Slow Die First?” with T. Odean, Review of Financial Studies, vol.15, no.2, pp.455-489, 2002.

  32. “Challengers, Elites, and Owning Families: A Social Class Theory of Corporate Acquisitions in the 1960s,” with D. Palmer, Administrative Science Quarterly, vol.46, no.1, pp.87-120, 2001.

  33. “Can Investors Profit from the Prophets? Consensus Analyst Recommendations and Stock Returns,” with R. Lehavy, M. McNichols, and B. Trueman, Journal of Finance, vol.56, no.2, pp.773-806, April 2001.

  34. “Boys will be Boys: Gender, Overconfidence, and Common Stock Investment,” with T. Odean, Quarterly Journal of Economics, vol.116, no.1, pp.261-292, February 2001.

  35. “The Internet and the Investor,” with T. Odean, Journal of Economic Perspectives, vol. 15, no. 1, pp.41-54, 2001.

  36. “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors," with T. Odean, Journal of Finance, vol.55, no.2, pp.773-806, April 2000.

  37. “Too Many Cooks Spoil the Profits: Investment Club Performance,” with T. Odean, Financial Analyst Journal, vol.56, no.1, pp.17-25, 2000.

  38. “The Courage of Misguided Convictions: The Trading Behavior of Individual Investors,” with T. Odean, Financial Analyst Journal, vol. 55, no. 6, pp.41-55, 1999.

  39. “Improved Methods for Tests of Long-Run Abnormal Stock Returns,” with J. Lyon and C. Tsai, Journal of Finance, vol. 54, no. 1, pp.165-201, 1999.

  40. “The Impact of Shocks to Exchange Rates and Oil Prices on U.S. Sales of Japanese and American Automakers,” with R. Click and M. Darrough, Japan and the World Economy, vol. 11, no.1, pp.57-93, 1999.

  41. “Detecting Long-Run Abnormal Stock Returns: The Empirical Power and Specification of Test Statistics,” with J. Lyon, Journal of Financial Economics, vol. 43, no. 3, pp. 341-372, 1997.

  42. “Firm Size, Book-to-Market Ratio, and Security Returns: A Holdout Sample of Financial Firms,” with J. Lyon, Journal of Finance, vol. 52, no. 5, pp. 875-883, 1997.

  43. “Detecting Abnormal Operating Performance: The Empirical Power and Specification of Test-Statistics,” with J. Lyon, Journal of Financial Economics, vol. 41, no. 3, pp. 359-400, 1996.

  44. “Product Reliability and Firm Value: The Experience of Japanese and American Automakers 1973-1992,” with M. Darrough, Journal of Political Economy, vol. 104, no. 5, pp. 1084-1099, 1996.

  45. “Forecasting The Discounts of Market Prices from Appraised Values for Real Estate Limited Partnerships,” Real Estate Economics, vol. 24, no. 4, pp. 471-491, 1996.

  46. “The Determinants of Conglomerate and Predatory Acquisitions: Evidence from the 1960s,” with D. Palmer and J. Wallace, Journal of Corporate Finance, vol. 1, no. 3/4, pp. 283-318, 1995.

  47. “The Other Contested Terrain: The Friendly and Predatory Acquisition of Large U.S. Corporations during the 1960s,” with D. Palmer, X. Zhou, and Y. Soysal, American Sociological Review, vol. 60, no. 4, pp. 469-499, 1995.

  48. “The Finance Conception of Control — the Theory that Ate New York: Reply to Fligstein,” with D. Palmer, X. Zhou, American Sociological Review, vol. 60, no. 4, pp. 504-508, 1995.

  49. “Noise Trading and Prime and Score Premiums,” Journal of Empirical Finance, vol. 1, no. 3/4, pp. 251-278, 1994.

  50. “The Fraud-on-the-Market Theory and Indicators of Common Stocks' Efficiency,” with P. Griffin and B. Lev. Journal of Corporation Law, vol. 19, no. 2, pp. 285-312, 1994.

  51. “The Dartboard Column: Second-Hand Information & Price Pressure,” Journal of Financial and Quantitative Analysis, vol. 28, no. 2, pp. 273-282, 1993.

  52. “Exchangeable Debt,” Financial Management, vol. 22, no. 1, pp. 48 60, 1993

Other Publications

  1. “Are Public Equity Markets Declining in Importance,” J. Rosett and R. Smith (panel discussion transcript), Journal of Applied Finance, 2014.

  2. “CalPERS Sustainable Investment Research Initiative, Review of Evidence: Database of Academic Studies,” (academic database created from CalPERS grant), 2013.

  3. “The Behavior of Individual Investors,” with T. Odean, chapter in Handbook of Economics and Finance, Elsevier, coedited by G. Constantinides, M. Harris, and R. Stulz, 2013, pp.1533-1569.

  4. “A New Science of Pension Fund Management,” with S. Currall and R. Jackson, Huffington Post, Dec. 16, 2013.

  5. “News and the Buying Behavior of Individual Investors,” with T. Odean, chapter in The Handbook of News Analytics in Finance, coedited by L. Misra and G. Misra, 2011, pp.173-210.

  6. “Pension Fund Activism: The Double-Edged Swoard,” chapter in The Future of Public Employee Retirement Systems, Oxford University Press, coedited by G. Anderson and O. Mitchell, pp.271-293.

  7. “Privatized Pensions: An Irrational Choice,” with D. Kahneman and T. Odean, Global Agenda Magazine, 2005.

  8. “Does online investing change investor behavior?” with T. Odean, European Business and Organization Law Review, vol. 3, no. 1, pp.83-129, 2002.

  9. “Investing Advice from Television Advertising,” with K. Elsbach and T. Odean, AARP, 2002.

  10. “Assessing the Costs of Security Trading,” with R. Leftwich, in Mastering Finance, Pitman Publishing, London, pp.202-210, 1998.

  11. “The Elusive Butterfly of Superior Returns,” with R. Leftwich, in Mastering Finance, Pitman Publishing, London, pp.263-270, 1998.

  12. “Book Review: Investment Science, by David Luenberger,” Journal of Finance, vol. 53, no. 6, pp.2261-2264, 1998.