Jonathan Lewellen

Bio

Jonathan Lewellen teaches courses in Capital Markets and Corporate Finance at Tuck.

Current Research Topics

• Tests of asset-pricing models
• Determinants of expected stock returns
• Behavior of corporate investment

Professional Activities

Academic positions

• Tuck School of Business, 2005–present
• Research Associate, 2006–present, Faculty Research Fellow, 2002–06, National Bureau of Economic Research
• Jon D. Gruber Associate Professor of Finance, 2004–05, Jon D. Gruber Assistant Professor of Finance, 2001–04, Assistant Professor of Finance, 1999–2001, Sloan School of Management, Massachusetts Institute of Technology

Editorial positions

• Associate Editor, Review of Asset Pricing Studies, Critical Finance Review
• Ad Hoc Referee
  Econometrica
  European Finance Review
  Journal of Accounting and Economics
  Journal of Business
  Journal of Empirical Finance
  Journal of Finance
  Journal of Financial and Quantitative Analysis
  Journal of Financial Economics
  Review of Finance
  Review of Financial Studies
  

Working Papers

• With S. P. Kothari and J. Warner, The behavior of aggregate corporate investment, 2014
• With R. Resutek, Why do accruals predict earnings? 2014
• With K. Lewellen, Internal equity, taxes, and capital structure, 2005

Awards

• Best Discussant Award, Financial Research Association Annual Meeting, 2011
• Fama/DFA Prize for Capital Markets and Asset Pricing, Journal of Financial Economics 2010
• Fama/DFA Prize for Capital Markets and Asset Pricing, Journal of Financial Economics 2006
• Jon D. Gruber Career Development Chair, MIT Sloan School of Management, 2001–2005
• Richard L. Rosenthal Award for Innovation in Investment Management, 2002
• Outstanding Doctoral Student Paper, Southern Finance Association Annual Meeting, 1997
• Olin Fellowship, University of Rochester, 1997–1998
• Simon Graduate School of Business Administration Fellowship, 1994–1998
• Outstanding Business Student, Kelley School of Business, Indiana University, 1994

Selected Publications

• With R. Resutek, "The Predictive Power of Investment and Accruals," forthcoming in Review of Accounting Studies
• With R. Resutek, “The Cross Section of Expected Stock Returns,” forthcoming in Critical Finance Review
• With K. Lewellen, "Investment and Cashflow: New evidence," forthcoming in Journal of Financial and Quantitative Analysis
• “Institutional Investors and the Limits of Arbitrage,” Journal of Financial Economics, 102, 2011
• “Accounting Anomalies and Fundamental Analysis: An Alternative Perspective,” Journal of Accounting and Economics, 50, 2010
• With S. Nagel and J. Shanken, "A Skeptical Appraisal of Asset Pricing Tests," Journal of Financial Economics, 96(2), 2010
• With S. Nagel, "The Conditional CAPM Does Not Explain Asset-Pricing Anomalies," Journal of Financial Economics, 82(2), 2006
• With S. P. Kothari and J. Warner, "Stock Returns, Aggregate Earnings Surprises, and Behavioral Finance," Journal of Financial Economics, 79(3), 2006
• "Predicting Returns with Financial Ratios," Journal of Financial Economics, 74(2), 2004