Shane A. Corwin
Associate Professor

240 Mendoza College of Business
University of Notre Dame
(574) 631-6026
scorwin@nd.edu

---

Courses Taught:

• Equity Valuation (Finance 70610) 
• Security Analysis (Finance 40610)
• Investment Theory (Finance 34600)

---

Education:

    Ph.D., Finance, The Ohio State University, Columbus, Ohio (1996)

    M.B.A., Mankato State University, Mankato, Minnesota (1992)

    B.S., Finance, Mankato State University, Mankato, Minnesota (1990)

---

Resume:

Curriculum Vitae (pdf format)

---

Publications:

• "A Simple Way to Estimate Bid-Ask Spreads from Daily High and Low Prices," with Paul Schultz , Journal of Finance, 2012, Vol. 67(2), 719-759.
• Internet Appendix for the Journal of Finance
• Application 1 - Historical CRSP and Datastream Data
• Application 2 - Additional Datastream Examples
• Application 3 - Stock Split Event Study
• Application 4 - Intraday Data
• Excel Example
• Sample SAS program for estimating the high-low spread (and program description).
• Monthly High-Low Spread Estimates 1926-2011 (and data description). 
  
  
• "When a Halt is Not a Halt: An Analysis of Off-NYSE Trading During NYSE Market Closures," with Bidisha Chakrabarty and Marios Payanides, Journal of Financial Intermediation, 2011, Vol. 20(3), 361-386.
• "Order Characteristics and the Sources of Commonality in Prices and Liquidity," with Marc L. Lipson, Journal of Financial Markets, 2011, Vol. 14(1), 47-81.
• "Limited Attention and the Allocation of Effort in Securities Trading," with Jay Coughenour, Journal of Finance, 2008, Vol. 63(6), 3031-3067.
• "The Role of IPO Underwriting Syndicates: Pricing, Information Production, and Underwriter Competition," with Paul Schultz, Journal of Finance, 2005, Vol. 60(1), 443-486. Nominated for the 2005 Smith Breeden Prize for the best paper in the Journal of Finance. 
• Appendix A - SDC Syndicate Data Corrections
• Appendix B - Underwriter Mergers and Acquisitions
• Underwriter Rankings based on shares underwritten (pdf) - includes a comparison to Carter-Manaster and Megginson-Weiss rankings.
• "The Development of Secondary Market Liquidity for NYSE-Listed IPOs," with Jeffrey H. Harris and Marc L. Lipson, Journal of Finance, 2004, Vol. 59(5), 2339-2373.
• “Specialist Performance and New Listing Allocations on the NYSE: An Empirical Analysis,” Journal of Financial Markets, 2004, Vol. 7(1), 27-51.
• “The Determinants of Underpricing for Seasoned Equity Offers,” Journal of Finance, 2003, Vol. 58(5), 2249-2279.
• “Nasdaq Trading Halts: The Impact of Market Mechamisms on Prices, Trading Activity, and Execution Costs," with William G. Christie and Jeffrey H. Harris, Journal of Finance, 2002, Vol. 57(3), 1443-1478.
• “The Initial Listing Decisions of Firms that Go Public,” with Jeffrey H. Harris, Financial Management, 2001, Vol. 30(1), 35-55.
• “Order Flow and Liquidity Around NYSE Trading Halts,” with Marc L. Lipson, Journal of Finance, 2000, Vol. 55(4), 1771-1801.
• “Differences in Trading Behavior across NYSE Specialist Firms,” Journal of Finance, 1999, Vol. 54(2), 721-745.

---

Working Papers and Current Research:

• "Commonality in Liquidity and Systematic Risk over Time," with Marc Lipson.
• "The Changing Nature of Investment Banking Relationships," with Mike Stegemoller.
• "The Role of Underwriter Reputation in Mergers and Acquisitions," with Jack Cooney and Mike Stegemoller. 

---

updated April 25, 2012

---

Useful Links:

• Finance and Business Links The Finance Department Home Page The Mendoza College of Business Home Page
• The Notre Dame Home Page