Dr. Paul J. Irvine  
Kleinheinz Endowed Chair in International Finance and Investments

Victor Davis:


AE Journals

Journal of Financial Markets

Published papers

Measuring institutional trading costs and the implication for finance research: The case of tick size reductions (2020) Journal of Financial Economics, with Greg Eaton and Tingting Liu.

Does institutional trading affect underwriting? (2019) Journal of Corporate Finance, with Amber Anand and Tingting Liu, (58).

The convergence and divergence of investor's opinions around earnings news: Evidence from a social network (2019) Journal of Financial Markets, with R. Giannini and T. Shu.

Nonlocal disadvantage: An examination of social media sentiment, (2018) Review of Asset Pricing Studies, with R. Giannini and T. Shu.

Customer-Base Concentration, Profitabllity and the Relationship Life Cycle (2016) with Shawn Park and Celim Yildizhan, The Accounting Review, 91 (3), 883-906.

Institutional Trading and Stock Resiliency: Evidence from the 2007-2009 Financial Crisis, (2013) with Amber Anand, Andy Puckett and Kumar Venkataraman, Journal of Financial Economics 108 (3), 773-797.
Performance of Institutional Trading Desks: An Analysis of Persistence in Trading Costs, (2012), with Amber Anand, Andy Puckett and Kumar Venkataraman, Review of Financial Studies, 25(2), 557-598.

Goldstein, M., P. Irvine and A. Puckett, (2011). Purchasing IPOs with Commissions, Journal of Financial and Quantitative Analysis, 46 (5).

Goldstein, M., P. Irvine, E. Kandel, and Z. Weiner, (2009). Brokerage Commissions and Institutional Trading Patterns, Review of Financial Studies 22 (12).

Irvine, P., and J. Pontiff, (2009). Idiosyncratic return volatility, cash flows and product market competition, Review of Financial Studies, 22 (3).

Irvine, P., Lipson, M., and A. Puckett, (2007). Tipping, Review of Financial Studies, 20 (3), 741-768.

Busse, J., and P. Irvine, (2006). Bayesian Alphas and Mutual Fund Persistence, Journal of Finance, 61 (5).

Irvine, P., Nathan, S., and P. Simko (2004) Asset Management and Affiliated Analysts’ Forecasts, Financial Analysts Journal, May/June. 67-78.
Irvine, P., (2004) Analysts’ Forecasts and Brokerage-Firm Trading, The Accounting Review,
79 (1), 125-149.

Irvine, P., (2003) The Incremental Impact of Analyst Initiation of Coverage, Journal of Corporate Finance, 9 (4).

Benston, G., Irvine, P., Rosenfeld, J., and J. Sinkey, (2003) Bank Capital Structure, Regulatory Capital and Securities Innovations, Journal of Money, Credit and Banking, 35 (3).

Irvine, P., (2000) Do Analysts’ Generate Trade for their Firms? Evidence from the Toronto Stock Exchange. Journal of Accounting and Economics, 30 (2).

Irvine, P., and J. Rosenfeld, (2000) Raising Capital Using Monthly Income Preferred Shares: Market Reaction and Implications for Capital Structure Theory, Financial Management, 29 (2).


Working papers

my ssrn page most working papers are pasted to ssrn when they are ready for circulation

Cases, Appendices and other items collected over the years

Bre-X Minerals Gold, fraud and mining engineers jumping out of helicopters.
Full Appendices to Busse and Irvine, Bayesian alphas and mutual fund persistence

Jeff Vinik at Fidelity Magellan Mutual fund case on top-down and bottom-up investment strategy and suitability

Theory of Finance 9200: Phd course Syllabus

Liquidity and asset pricing: the case of the short squeeze and returns to the short position

Data: News articles by stock-month 2010-2016

Readme file: Data information

Github link: Lexis Nexis data


FINA 70513: Security Analysis

FINA 30213: Investments

Useful Links







Contact Information

Dept of Finance
Neeley School of Business
TCU Box 298530

Fort Worth TX

Ph: (817)257-7549



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Last Updated:
September, 2020