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Data

-      Sentiment Dictionaries

-      Master Dictionary

-      Data/Tools

-      IPO Data/Word lists

-      10-K Header Data

-      CRSP Flat File Software

Classes

  • Cryptoassets and the Blockchain (MSF 70800)
  • Python for Finance (FIN 40260)
  • Investment Theory
    (FIN 30600)
  • Applied Investment Management (FIN 40640 & FIN 70640)
  • Investments (MSF 60600)
  • Bitcoin (FIN 30610)
  • MBA Finance (FIN 60410)
  • MBA Investment Management (FIN 70600)
  • MBA Investment Principles (FIN 70690)
  • MSF Asset Management (MSF 70670)
  • Executive MBA

Websites

Bill McDonald
Professor of Finance

Thomas A. and James J. Bruder Chair in Administrative Leadership

E‑Mail:

mcdonald.1@nd.edu

Address:

335 Mendoza College of Business

University of Notre Dame

Notre Dame, IN  46556-5646

Telephone:

(574) 631‑5137

SSRN:

http://ssrn.com/author=87979

 

 

 

Bill McDonald has been at the University of Notre Dame since receiving his PhD from Arizona State University in 1979. He worked in a vice president position at the Schwab Center for Investment Research in San Francisco during the Internet boom/bust. At Schwab he developed online financial planning software, including a patented portfolio optimization package. He has consulted for major investment banks, brokerages, stock exchanges and served as an expert witness.

Professor McDonald’s research is predominantly in capital markets and he has more than 50 publications spanning leading journals in finance, accounting, management science and economics.  His research has been cited in The Wall Street Journal, The London Times, The New Yorker, Barron’s, Quartz and other popular press outlets.  The textual analysis technology he developed along with Tim Loughran for their 2011 Journal of Finance paper is used by Google, Fidelity, Citadel, Dow Jones, S&P Global, and WRDS. 

Teaching in the area of investments, McDonald received a Kaneb Teaching Award in both 1999 and 2003, and the Joyce Award for Excellence in Undergraduate teaching in 2015. The Applied Investment Management course he taught for more than a decade manages more than $25 million of Notre Dame’s endowment.  More recently he designed and is teaching a course entitled Python for Finance. He currently serves at Notre Dame as Professor of Finance and is the Thomas A. and James J. Bruder Chair in Administrative Leadership.

 

Working Papers

 

 

 

·          Measuring Firm Complexity, with Tim Loughran.

·          Management Disclosure of Risk Factors and COVID-19, with Tim Loughran.

 

 

Selected Publications



·          How Have Corporate Codes of Ethics Responded to an Era of Increased Scrutiny?, with Tim Loughran and James Otteson, Journal of Business Ethics, forthcoming.

·          Textual Analysis in Finance, with Tim Loughran, Annual Review of Financial Economics, Vol. 12, 2020, 357-375.

·          Designing a Global Digital Currency, with Ron Balvers, Journal of International Money and Finance, Vol. 111, 2020.

·          Deviations from Time Priority on the NYSE, with Robert Battalio and Robert Jennings, Journal of Financial Markets, https://doi.org/10.1016/j.finmar.2020.100567.

·          Assimilation of Oil News into Prices, with Tim Loughran and Ioannis Pragidis, International Review of Financial Analysis, Vol. 63, 2019, 105-118.

·          Using Annual Report Sentiment as a Proxy for Financial Distress in U.S. Banks, with Priyank Gandi and Tim Loughran, Journal of Behavioral Finance, forthcoming.

·          The Use of EDGAR Filings by Investors, with Tim Loughran, Journal of Behavioral Finance, Vol. 18:2, 2017, 231-248.

·          Textual Analysis in Accounting and Finance:  A Survey, with Tim Loughran, Journal of Accounting Research, 54:4, September 2016, 1187-1230.

·          Using 10-K Text to Gauge Financial Constraints, with Andriy Bodnaruk and Tim Loughran, Journal of Financial and Quantitative Analysis, 50:4, August. 2015, 1-24.

 

·          Trust, but Verify:  MD&A Language and the Role of Trust in Corporate Culture, with Tim Loughran and Robert Audi, Journal of Business Ethics, 18:2, 2017, 1187-1230.

·          Old Glass Ceilings are Hard to Break:  Gender Usage Trends in Annual Reports, with Tim Loughran, Studies in Communication Sciences, 15, 2015, 5-11.

·          Financial Disclosure and Customer Satisfaction:  Do Companies Talking the Talk Actually Walk the Walk?, with Ron Balvers and John Gaski, Journal of Business Ethics, 139:1, November 2016.

 

·          The Use of Word Lists in Textual Analysis, with Tim Loughran, Journal of Behavioral Finance, 16:1, Jan-Mar 2015, 1-11.

·          Measuring Readability in Financial Disclosures, with Tim Loughran, Journal of Finance, 69:4, August 2014, 1643-1671.

·          Regulation and Financial Disclosure:  The Impact of Plain English, with Tim Loughran, Journal of Regulatory Economics, 45:1, 2014, 94-113.

·          IPO First-Day Returns, Offer Price Revisions, Volatility, and Form S-1 Language, with Tim Loughran, Journal of Financial Economics, 109:2, 2013, 307-326.

·          When is a Liability not a Liability? Textual Analysis, Dictionaries, and 10-Ks, with Tim Loughran, Journal of Finance, 66:1, February 2011, 67-97.

·          Barron’s Red Flags:  Do They Actually Work?, with Tim Loughran, Journal of Behavioral Finance, 12:2, 2011, 90-97.

·          Commonality in Codes of Ethics, with Margaret Forster and Tim Loughran, Journal of Business Ethics, 90, 2009, 129-139.

·          A Wolf in Sheep's Clothing: The Use of Ethics-Related Terms in 10-K Reports, with Timothy J Loughran, Hayong Yun, Journal of Business Ethics, 89, 2009, 39-49.

·          What's Different Among Banks?, with Thomas F. Cosimano, Journal of Monetary Economics, 41, 1998, 57-70.

·          Multivariate Tests of Asset Pricing: The Comparative Power of Alternative Statistics, (with John Affleck-Graves), Journal of Financial and Quantitative Analysis, 25, 1990, 163-185.

·          Predicting Stock Returns in an Efficient Market, with Ronald J. Balvers, Thomas F. Cosimano, Journal of Finance, 45, 1990, 1109-1128.

·          Nonnormalities and Tests of Asset Pricing Theories, with John Affleck-Graves, Journal of Finance, 44, 1989, 889-908.

·          Underpricing of New Issues and the Choice of Auditor as a Signal of Investment Banker Reputation, with Ronald J. Balvers and Robert E. Miller, The Accounting Review, 63, 1988, 605-622.

·          Event Studies and Systems Methods: Some Additional Evidence, Journal of Financial and Quantitative Analysis, 22, 1987, 494-504.

·          A Reexamination of Economics of Scale in Banking Using a Generalized Functional Form, with Bernard J. Kilbride and Robert E. Miller, Journal of Money, Credit and Banking, 18, 1986, 519-526.

·          Estimating Market Model Betas:  A Comparison of Random Coefficient Methods and Their Ability to Correctly Identify Random Variation, Management Science, 31, 1985, 1403-1408.

 

 

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