Richard S. Warr, Ph.D About Published Papers Working Papers Teaching CV




Richard S. Warr, Ph.D

Professor of Finance

Head, Department of Business Management
Poole College of Management
NC State University

Co-Editor: The Financial Review

Contact Information: Mailing Address: Physical Address:
office: 919.513.4646 Poole College of Management Poole College of Management
fax: 919.515.6943 Box 7229 2801 Founders Drive
rswarr@nospam.ncsu.edu (remove nospam) North Carolina State University Nelson Hall 2350
SSRN page Raleigh, NC 27695-7229 Raleigh, NC 27695
Google Scholar Page
Finance Area at NC State
My Finance Blog
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Biography

Richard Warr received his Ph.D in Finance from the University of Florida in 1998. His research focuses on information transmission in markets, equity valuation, endogeneity of corporate events such as option listings, short selling, capital structure and market microstructure. He has published papers in several top finance and accounting journals including the Journal of Accounting and Economics, the Journal of Financial and Quantitative Analysis, Financial Management and the Journal of Corporate Finance. He currently serves as the Co-Editor of the Financial Review. His teaching is in the area of investments, portfolio management and security analysis.

Education

University of Florida. Ph.D. (Finance) December 1998. Dissertation: The Decline of Inflation and the Bull Market of 1982 to 1997 Chair: Jay R. Ritter

University of North Carolina, Wilmington MBA May 1992.

University of Reading, England, B.Sc. (Hons), (Land Management) June 1987.

Curriculum Vitae




Published Papers

  1. CEO Opportunism?: Option Grants and Stock Trades around Stock Splits
    Erik Devos, William Elliott and Richard S. Warr
    Journal of Accounting and Economics, 2015, 60, 18-35. paper

  2. Liquidity, Accounting Transparency, and the Cost of Capital: Evidence from Real Estate Investment Trusts
    Bartley Danielsen, David Harrison, Robert Van Ness and Richard S. Warr
    Journal of Real Estate Research, 2014, 36. paper

  3. Capital Structure, Equity Mispricing and Stock Repurchases
    Alice A. Bonaime, Ozde Oztekin and Richard S. Warr
    Journal of Corporate Finance, 2014, 26, 182-200. paper

  4. Equity Mispricing and Leverage Adjustment Costs
    Richard S. Warr, William B. Elliott, Johanna Koeter-Kant, and Ozde Oztekin
    Journal of Financial and Quantitative Analysis, 2012, Vol 47, 589-616. paper

  5. Short selling of ADRs and Foreign Market Short-Sale Constraints
    Benjamin Blau, Robert Van Ness and Richard S. Warr
    Journal of Banking and Finance, 2012, Vol 36, 886-897. paper

  6. The Characteristics of Firms That Hire Chief Risk Officers
    Don Pagach and Richard S. Warr
    Journal of Risk and Insurance, 2011, Vol 78, No 1, 185-211. paper

  7. REIT Auditor Fees and Financial Market Transparency
    Bartley R. Danielsen, David M. Harrison, and Robert A. Van Ness
    Real Estate Economics, 2009, Vol 37, No 3, 515-557. paper

  8. Single Stock Futures as a Substitute for Short Sales: Evidence from Microstructure Data
    Bartley Danielsen, Robert Van Ness and Richard S. Warr
    Journal of Business Finance and Accounting, 2009, Vol 36, 1273-1293. paper

  9. The Information Conveyed in Hiring Announcements of Senior Executives Overseeing Enterprise-Wide Risk Management Processes
    Mark Beasley, Don Pagach, and Richard S. Warr
    Journal of Accounting, Auditing and Finance, 2008, Vol. 23 Issue 3, p311-332. (Lead Article). paper

  10. Market Timing and the Debt-Equity Choice
    William B. Elliott, Anjo Koeter and Richard S. Warr
    Journal of Financial Intermediation, 2008, Vol 17, 175-197. paper

  11. Cubes to Quads, the change from QQQ on the AMEX to QQQQ on the NASDAQ
    Kevin Broom, Robert Van Ness and Richard S. Warr
    Journal of Economics and Business, 2007, Vol 59, 520-535. paper

  12. Reassessing the Impact of Option Introductions on Market Quality: A Less Restrictive Test for Event-Date Effects
    Bartley R. Danielsen, Bonnie F. Van Ness and Richard S. Warr
    Journal of Financial and Quantitative Analysis, 2007, Vol 42, 1041-1062. paper

  13. Audit Fees, Market Microstructure and Informational Transparency
    Bartley Danielsen, Robert A. Van Ness and Richard S. Warr
    Journal of Business Finance and Accounting, 2007, Vol 34, 202-221. paper

  14. A Valuation-Based Test of Market-Timing
    William B. Elliott, Anjo Koeter and Richard S. Warr
    Journal of Corporate Finance, 2007, Vol. 13, 112-128. paper

  15. What Drives the S&P500 Inclusion Effect? An Analytical Survey
    Bill Elliott, Bonnie Van Ness, Mark Walker and Richard S. Warr
    Financial Management 2006, Vol 35, No 4, pp. 31-48. paper

  16. NASDAQ Trading and Trading Costs: 1993-2002
    Bonnie Van Ness, Robert Van Ness and Richard S. Warr
    The Financial Review, 2005, Vol. 40, pp. 281-304. paper

  17. The Impact of Market-Maker Concentration on Adverse Selection Costs for NASDAQ Stocks.
    Bonnie F. Van Ness, Robert A. Van Ness and Richard S. Warr
    Journal of Financial Research, 2005, Vol. 28, No. 3, pp. 461-485. paper

  18. The Impact of the Introduction of Index Securities on the Underlying Stocks: The Case of the Diamonds and the Dow 30
    Bonnie Van Ness, Robert Van Ness and Richard S. Warr
    Advances in Quantitative Analysis of Finance and Accounting, 2005, Vol. 2. pdf

  19. An Empirical Study of Inflation Distortions to EVA
    Richard S. Warr
    Journal of Economics and Business, 2005, Vol. 57, No. 2, pp. 119-137. paper

  20. Price Pressure on the NYSE and Nasdaq: Evidence from S&P 500 Index Changes
    William Elliott and Richard S. Warr
    Financial Management, Autumn, 2003, Vol.30, No. 3, pp. 85-99. pdf

  21. Is the Adverse Selection Component Really Higher on the NYSE/Amex than on the Nasdaq?
    Bonnie Van Ness, Robert Van Ness and Richard S. Warr
    Journal of Business, Finance & Accounting, 2002, Vol. 29, No. 5 & 6, pp. 807-824. paper

  22. The Decline of Inflation and the Bull Market of 1982 to 1999
    Jay R. Ritter and Richard S. Warr
    Journal of Financial and Quantitative Analysis, 2002, Vol. 37, No. 1, pp. 29-61. paper

  23. How Well Do Adverse Selection Models Measure Adverse Selection?
    Bonnie Van Ness, Robert Van Ness and Richard S. Warr
    Financial Management, 2001, Vol. 30, No. 3, pp. 77-98. pdf

Monographs and Book Chapters

Corporate Reputational Risk and Enterprise Risk Management: An Analysis from the Perspectives of Various Stakeholders
Donald Pagach and Richard S. Warr
Society of Actuaries Monograph, 2009.link

A Comparison of NYSE and Regional Trading (1993-2002)
Bonnie Van Ness, Robert Van Ness and Richard S. Warr
Focus on Financial Institutions and Services Nova Science Publishers, Inc., Hauppauge, NY.

Unpublished Completed Manuscripts

The Effects of Enterprise Risk Management on Firm Performance
Donald Pagach and Richard Warr
http://ssrn.com/abstract=1155218 link

The cost savings associated with Indexing the NC Pension Fund.
Richard Warr
here link




Working Papers

  1. Inflation and Mutual Fund Flows
    Srini Krishnamurthy, Denis Pelletier and Richard S. Warr Revise and Resubmit

  2. CEO opportunism, firm risk and stock splits
    Erik Devos, William Elliott and Richard S. Warr

  3. Employee Satisfaction and Innovation Efficiency: Evidence from Corporate Social Responsibility
    Roger Mayer, Richard S. Warr and Jing Zhao

  4. The Effect of Inflation Illusion on the Debt-Equity Choice
    Richard S. Warr




Teaching

My teaching is in the area of corporate finance and investments. I have taught:

Current class websites are on Moodle