Bill Schwert

Bio

Professor Schwert came to the University of Rochester in 1976. He has been the managing Editor of the Journal of Financial Economics since 1995 and he has been a Research Associate of the National Bureau of Economic Research since 1988. His papers have been cited more than 7,600 times by published books and journal articles covered in the Social Science Citation Index and SCOPUS. His papers have received more than 25,700 citations according to Google Scholar.

Teaching Interests

Professor Schwert has teaching interests in portfolio and capital-market theory, corporate finance and control, econometrics and time-series analysis, and in the effects of public regulation on business.

Research Interests

Professor Schwert has research interests in portfolio and capital-market theory, corporate finance and control, econometrics and time-series analysis, and in the effects of public regulation on business. From 1978 until 1982 his research was sponsored by the National Science Foundation. During 1982, he was the first CRSP Distinguished Reseach Scholar at the University of Chicago. he received a Batterymarch Research Fellowship for the 1982-1983 academic year. in 1990, he won the Graham and Dodd Plaque for the best paper ("Stock Market Volatility") published in the Financial Analysts Journal, and he won a Smith-Breeden Distinguished Paper Award for one of the best papers ("Why Does Stock Market Volatility Change over Time?") published in The Journal of Finance. Schwert has been an editor of the Journal of Financial Economics since 1979 and the managing editor since 1995. He was an associate editor of The Journal of Finance from 1983-2000, and he was an advisory editor of the Journal of Monetary Economics. His current research deals with the pricing of initial public offerings of stock, the market for corporate control, and on stock market volatility.

Professional History

Distinguished University Professor and Professor of Finance and Statistics

University of Rochester Simon School of Business, Rochester NY

1998 -

Research Associate

National Bureau of Economic Research, Asset Pricing Group

1988 -

Senior Research Associate

University of Rochester, Department of Economics, Rochester NY

1984 -

Gleason Professor of Finance & Statistics

University of Rochester Simon School of Business, Rochester NY

July 1986 - June 1998

Professor

University of Rochester Simon School of Business, Rochester NY

July 1984 - June 1986

Associate Professor

University of Rochester Simon School of Business, Rochester NY

July 1979 - June 1984

Assistant Professor

University of Rochester Simon School of Business, Rochester NY

July 1976 - June 1979

Education

University of Chicago - 1975

Ph D

Finance and Econometrics

University of Chicago - 1973

MBA

Finance

Trinity College - 1971

AB

Economics

Publications

2011

Stock Volatility during the Recent Financial Crisis

Contribution Type: Journal Article, Academic Journal

Journal/Publisher/Proceedings Publisher: European Financial Management

Volume: 17

2010

The Variability of IPO Initial Returns

Contribution Type: Journal Article, Academic Journal

Journal/Publisher/Proceedings Publisher: Journal of Finance

Volume: 65

Current Research Programs

M&A Volatility

We study and try explain the substantial variation in premia paid to target shareholders across deals and time. Working with Michelle Lowry and Micah Officer

Short Sales, Damages and Class Certification in 10b-5 Actions

Simon School Working Paper No. FR 01-19; NBER Working Paper No. W8618