Haim Mozes

Haim Mozes is a professor of accounting at the Gabelli School of Business. His research focuses on the different ways in which earnings data influence stock prices, on the performance of alternative investments, and on the role of alternative investments in institutional portfolios. His teaching interests include financial statement analysis and, in particular, topics that bridge the accounting and finance disciplines. Professor Mozes has consulted for earnings analytics firms as well as for hedge funds.

Education

• PhD: New York University
• Master's: MS, New York University
• Bachelor's: BA, Touro College

Research interests

• Quantitative Equity Analysis
• Alternative Investments
• Asset Allocation Models
• Earnings Forecasting Models
• Stock Selection Strategies Based on Earnings Forecast Models
• Financial Statement Analysis
• Valuing/Evaluating Deferred Compensation

Publications

• “When Do PE Ratios Matter,” with Hannah Rozen, Journal of Investing, Spring 2017, forthcoming.
• "Using Fundamental Factors to Forecast Equity Market Volatility,” with John Steffens, Journal of Trading, Spring 2016, 11(2), pp. 5-10.
• “The Time-Varying Interest Rate Sensitivity of Municipal Bonds,” Journal of Wealth Management, Fall 2015, 18(2), pp 47-54.
• “CalculatingEarnings Growth Rates for Indices that Include Unprofitable Companies,” with HannahRozen, Journal of Investing, forthcoming.
• “GettingMore Value out of the Value Factor,” with John Steffens, Journal of Investing,forthcoming.
• “TheDisconnect Between Physical Gold Demand and Gold Prices,” with Serge Cooks, Journal of Wealth Management, 16(3),Winter 2013, 112-121.
• “DecomposingHedge Fund Returns: What Hedge Funds got Right for the Past 20 Years,” Journal of Investing, 22(3), Fall 2013,9-20.
• “Evidencein Support of Shorter-Term Market Timing,” with Serge Cooks, Journal of Wealth Management, Fall 2012,36-48.
• “Private Equity Performance: Better ThanCommonly Believed,” with Andrew Fiore, Journalof Private Equity, 15(3), Summer 2012, 19-32.
• “The Relation between Hedge FundSize and Risk,” with Jason Orchard, Journal of Derivatives and Hedge Funds, 18(1), Winter 2012, 85-109.
• “The Impact of Expected andUnexpected Inflation on Local Currency and US Dollar Returns from ForeignEquities.” with Serge Cooks, Journal of Investing, 20(2), Summer 2011, 15-23.
• “The Sustainability of EndowmentSpending Levels: A Wakeup Call for University Endowments,” with Gregory Ho andPavel Greenfield, Journal of PortfolioManagement, Fall 2010, 37(1), 133-146.
• “Valuation, the Observability ofValuation Drivers, and Future Stock Returns,” with Serge Cooks, Journal of Investing, Summer 2010, 19(2),8-20.
• “ThePersistence of Hedge Fund Risk: Evidence and Implications for Investors,” withMartin Herzberg, Journal of AlternativeInvestments, Fall 2003, 6(2), 22-41.
• “ManagingPro Forma Stock Option Expense Under SFAS no. 123,” with Harry Newman andSteven Balsam, Accounting Horizons, March2003, 17(1) 31-46.
• “TheUsefulness of Analysts’ Buy/Hold/Sell Recommendations,” with Vinseh Jha andDavid Lichtblau, Journal of Investing,Summer 2003, 12(2), 7-18.
• “Accuracy,Usefulness and the Evaluation of Analysts’ forecasts,” International Journal of Forecasting, 19(2003), 417-434.
• “TheUsefulness of Fair Value and Derivatives Disclosures for FinancialInstitutions,” Abacus, Vol. 38:1,February 2002, pp. 1-15.
• “TheRole Of Taxes in the Composition of the Firm’s Retirement Plans.” Advances in Financial Planning andForecasting, 2001, Vol. 10, pp. 49-76.
• “BrokerageFirm Analysts: How Good are the Forecasts?” eith Patricia Williams, Journal of Investing, Vol. 9 No. 3, Fall2000, pp. 5-13.
• “TheRole of Value in Strategies Based on Anticipated Earnings Surprise,” Journal of Portfolio Management, Vol. 26No. 2, Winter 2000, pp. 54-62.
• “CompensationCommittee Composition and its Influence on CEO Compensation Practices,” withHarry Newman, Financial Management,Vol. 28 No. 3, Winter 1999, pp. 41-53.
• “ModelingEarnings Expectations Based on Clusters of Analyst Forecasts,” with PatriciaWilliams, Journal of Investing,Spring 1999, pp. 25-38.
• “ConceptualFrameworks and Political Support: The Lesson From Employee Stock Options,” Abacus,Vol. 34 No. 2, September 1998, pp.141-161.
• “TheLink Between Dividend Changes and Future Earnings,” with Donna Rapaccioli, Journal of Financial Statement Analysis,Vol. 3 No. 2, Spring 1998, pp. 29-39.
• “AFramework for the Analysis of Segment Data,” Journal of Financial Statement Analysis, Vol. 3 No. 2, Winter 1998,pp. 28-43.
• “TaxCosts and Nontax Benefits: The Case of Incentive Stock Options,” with RobertHalperin and Steven Balsam, Journal of the American Taxation Association, Vol.19:2, Fall 1997, pp. 19-37.
• “TheImplications of a LIFO Liquidation for Future Gross Margins,” Journal of Financial Statement Analysis,Vol. 2:4, Summer 1997, pp. 39-51.
• “ComputingEPS in the Presence of Instruments Convertible into Common Stock: A ValuationApproach,” Journal of Financial StatementAnalysis. Vol. 2:2, Winter 1997, pp. 26-36.
• “TheUse of Segment Sales to Smooth Earnings,” with Dov Fried, Allen Schiff, andDonna Rapaccioli, Journal of FinancialStatement Analysis, Vol. 1:3, Spring1996, pp. 25-33.
• “AnUpper Bound for the Firm’s Cost of Employee Stock Options,” Financial Management, Vol. 24(4), Winter1995, pp. 66-77.
• “TheRelation Among Dividend Policy, Firm Size, and the Information Content ofEarnings Announcements,” with Donna Rapaccioli, Journal of Financial Research, Vol 18:1, Spring 1995, pp. 75-88.
• “AComprehensive Critique of SFAS 34,” with Allen Schiff, Abacus, Vol. 31:1 1995, pp. 1-17.
• “Measuringthe Earnings Announcements’ Importance as an Information Source,” Advances in Quantitative Analysis of Financeand Accounting, Vol. 3, Part B, April 1995, pp. 89-106.
• “Determiningthe Substitution Rate Between Incentive Stock Options and Non-Qualified StockOptions,” Journal of the AmericanTaxation Association, 16(1), Spring 1994, pp. 138-157.
• “TheEfficiency of Restricted Stock Relative to Stock Options in DeferredCompensation,” Advances in Taxation,Vol.6, 1994, pp. 115-144.
• “ModelingGrowth in the Annual Earnings Time-Series,” Journalof Business, Finance and Accounting, 19(6), November 1992, pp. 817-837.
• “AFramework for Normative Accounting Research,” Journal of Accounting Literature, Vol. 11, 1992, pp. 93-120.