Steven Jordan

Dr. Steven Jordan holds the Marcia Belmar Willock Professorship of Practice in Finance and is an endowed chair at SUNY-Oswego, where he teaches courses in the undergraduate and on-line MBA programs. His research is in asset pricing and pricing anomalies with a special interest in behavioral drivers of market inefficiencies. His work has been published in the Journal of International Business Studies; Financial Management; Journal of Forecasting; International Journal of Forecasting; Journal of Futures Markets; Applied Finance; Quantitative Finance; European Journal of Finance; Journal of Empirical Finance; Emerging Markets, Finance, and Trade; and other academic journals. Dr. Jordan received the CFA Best Paper Award at the 2009 Financial Management Association Conference in Xiamen, China and the Best Paper Award at the 2011 Asian Pacific Derivatives Association Conference in Pusan, Korea. Dr. Jordan has managed student-run portfolios at both the University of Memphis and at SUNY-Oswego.

Dr. Jordan received his PhD from Yale University, MS degree from Caltech, and BS from the University of Massachusetts at Amherst.  His dissertation was titled "Three Essays in Zero Investment Strategies."

Prior to his academic career, Dr. Jordan gained experience via a variety of industry positions including mortgage research at HUD, pension consulting at KPMG Peat Marwick, casualty actuarial experience at CIGNA, and entrepreneurial experience while running his own tire store.

Dr. Jordan has extensive international experience. He has lived and worked in Korea, China, Saudi Arabia, and the United States. He has presented his research on five different continents.

When not working, Dr. Jordan enjoys farming, hiking, being food self-sufficient, exploring the outdoors, being a very poor tinkerer, and reading nonfiction. He loves old houses; this peculiar taste in real estate has forced him to learn the arts of many trades in the construction and renovation fields.

Research

His research interests are in market inefficiencies and how to improve market functionality. This naturally leads to an interest in asset pricing and pricing anomalies. He has a special interest in how human cognitive dissonance can affect market efficiency and pricing.

Specialty areas:

• Investments
• Behavioral finance
• Pricing anomalies

Publications

• “Programs trades and trade regulation: An evidence of the Korean securities market” (with Cheoljun Eom, Woo‐Baik Lee, and Jong Won Park), Journal of Futures Markets, Volume 40, Issue 1, Pages 44-66, January 2020. https://onlinelibrary.wiley.com/doi/abs/10.1002/fut.22056
• “Stock Returns Forecasting with Metals: Sentiment vs. Fundamentals” (with Andrew Vivian and Mark Wohar), European Journal of Finance, Volume 24, Issue 6, Pages 458-477, May 2018. https://www.tandfonline.com/doi/abs/10.1080/1351847X.2017.1323770
• “Cancellation Latency: The Good, the Bad, and the Ugly” (with Pawan Jain), Financial Management, Volume 46, Issue 2, Pages 377–407, Summer 2017. https://onlinelibrary.wiley.com/doi/abs/10.1111/fima.12143
• “Analysts’ Dynamic Decisions: Timeliness vs. Accuracy” (with Byungjin Kwak and Changhee Lee), Journal of Forecasting, Volume 36, Issue 4, Pages 368–381, July 2017. https://onlinelibrary.wiley.com/doi/abs/10.1002/for.2438
• “Forecasting Asian Market Returns: Bagging or Combining?” (with Andrew Vivian and Mark Wohar), International Journal of Forecasting, Volume 33, Issue 1, Pages 102-120 , January–March 2017. https://www.sciencedirect.com/science/article/abs/pii/S0169207016300723
• “Can commodity returns forecast Canadian sector stock returns?” (with Andrew Vivian and Mark Wohar), International Review of Finance and Economics, Volume 41, Pages 172-188, January 2016. https://www.sciencedirect.com/science/article/abs/pii/S1059056015001409
• “Program Trading and the Link Between the Spot and Futures Prices” (with Woo-Baik Lee and Jong Won Park), Journal of Futures Markets, Volume 35, Issue 12, pp. 1133-1153, 2015. https://onlinelibrary.wiley.com/doi/abs/10.1002/fut.21690
• “The Information Content of Asymmetric Sneers” (with Youngsoo Choi and Wonchang Lee), Emerging Markets Finance and Trade, Volume 51, Issue 3, pp. 34-51, 2015. https://www.tandfonline.com/doi/full/10.1080/1540496X.2015.1039900
• “Location, Location, Location: Currency Effects and Return Predictability” (with Andrew Vivian and Mark Wohar), Applied Economics, Volume 47, Issue 18, pp. 1883-1898, 2015. https://www.tandfonline.com/doi/full/10.1080/00036846.2014.1000537
• “Forecasting Returns: New European Evidence” (with Andrew Vivian and Mark Wohar), Journal of Empirical Finance, 26, pp.76-95, 2014. https://www.sciencedirect.com/science/article/abs/pii/S0927539814000085
• “Is Momentum a Self-Fulfilling Prophecy?” (Sole Authored), Quantitative Finance, 14(4), pp. 737-748, 2014. https://www.tandfonline.com/doi/abs/10.1080/14697688.2012.738928
• “Economically-Linked Economies and Forecasting Chinese Market Returns” (with Andrew Vivian and Mark Wohar), Journal of International Money and Finance, 41(March), pp. 95-109, 2014. https://www.sciencedirect.com/science/article/abs/pii/S0261560613001629
• “Dividend-Rollover Effect & the Ad Hoc Black-Scholes Model” (with Youngsoo Choi and SoonChan Ok), Journal of Futures Markets, 32(8), pp. 742-772, 2012. https://onlinelibrary.wiley.com/doi/abs/10.1002/fut.21541
• “Time-Varying Risk and Long-term Reversals: A Re-examination of the International Evidence” (Sole Authored), Journal of International Business Studies, 43(2), pp. 123-142, 2012. https://link.springer.com/article/10.1057/jibs.2011.41
• “The Link between Intraday Signals and Call Warrant Mispricing” (with Shih-Ching Chuan, Yueh-Neng Lin, and Shih-Kuo Yeh), Service Industries Journal, 30(13), pp. 2273-2288, 2010. https://www.tandfonline.com/doi/abs/10.1080/02642060802629885
• “Do Supply Curves for Stocks Slope Up?” (with Elisabeth Bui), African Journal of Business Management, 3(9), pp. 405-409, 2009. https://academicjournals.org/article/article1380549930_Bui%20and%20Jordan.pdf
• “Option Bounds” (with Victor de la Pena and Rustam Ibragimov), Journal of Applied Probability, 41(A), pp. 145-156, 2004. https://www.cambridge.org/core/journals/journal-of-applied-probability/article/abs/option-bounds/8BB9E7FBFFA4F50060C446D93F602261

Awards and Honors

• Best Teacher Award nomination – Texas A & M University, Texarkana, TX 2018
• Outstanding Research Award, Alfaisal University, Riyadh, Saudi Arabia 2017
• Top 5 finish both years managing TVA student managed fund, Memphis, TN 2013, 2014
• Travel Grant – FDIC 23rd Annual Derivatives Securities & Risk Management Conference, Arlington, VA 2013
• National Research Foundation of Korea Grant (NRF-2012-09112005), Korean Government, Seoul, Korea 2013
• Travel Grant - Wang Center for International Business Education and Research (CIBER), Memphis, 2013
• Grant no. 12-C207-SMU-007, Office of Research at Singapore Management University, 2013
• Travel Grant - Indira Gandhi Institute of Development Research, Mumbai, India 2012
• SSRN Top Economics Authors List, Rank, date: 11/01/2012
• Best Paper Award – Asian Pacific Derivatives Association, Pusan, Korea 2011
• Travel Grant - Erasmus University, Rotterdam, Netherlands 2010
• CFA Best Paper Award – Financial Management Association, Xiamen, China 2009
• Invited Session - 18th New England Statistics Symposium, Harvard University, Boston 2004
• #28 National Amateur Ranking – United States Tennis Association, 1989

Performances and exhibitions

Presentations

• Adolfo Ibáñez University (Chile)
• Cambridge University (UK)
• Cass School of Business (UK)
• Duke University
• EDHEC (France)
• Erasmus University (The Netherlands)
• Federal Depository Insurance Corporation
• Georgia State
• Hallym University (Korea)
• Hong Kong University of Science and Technology (Hong Kong)
• Indira Gandhi Institute of Development Research (India)
• Kazakhstan-British Technical University (Kazakhstan)
• Korea University (Korea)
• Loughborough University (UK)
• Louisiana State University
• MIT
• University of Macau (China)
• Peking University (China)
• Penn State University
• Pohang University (Korea)
• Robert Morris University
• Rotary Club Korea (Korea)
• Seoul National University (Korea)
• Singapore Management University (Singapore)
• Solbridge University (Korea)
• Suffolk University
• Sungkyunkwan University (Korea)
• Sun Yat-sen University (China)
• Texas Tech
• University of Colorado at Boulder
• University of Connecticut
• University of Hong Kong (Hong Kong)
• University of Hull (UK)
• University of New Mexico
• University of Michigan
• University of Memphis
• University of Oklahoma
• University of Otago (New Zealand)
• University of South Carolina
• University of Virginia
• Virginia Tech
• Xiamen University (China)
• Yale University
• Yonsei University (Korea)

Education

Ph.D., Finance, Yale University, New Haven, CT, 2006
MS, Applied Mathematics, California Institute of Technology, Pasadena, CA, 1986
BS, Mathematics, University of Massachusetts at Amherst, Amherst, MA, 1984

Classes taught

Fall 2024: 
FIN 325 - Corporate Finance
MBA 513 Managerial Finance
MBA 543 - Investment Analysis/Port Manag