Umit Gurun

Professor - Management
umit.gurun@utdallas.edu
972-883-5917
SOM4813
Tags: Accounting Financial & Managerial Economics

Professional Preparation

Ph.D. - Finance
Michigan State University - 2004
M.B.A.
Koc University (Turkey) - 1999
B.S. - Industrial Engineering
Bilkent University - 1997

Publications

Booth, G.G., U.G. Gurun, and H. Zhang, Financial Networks and Trading in Emerging Bond Markets, forthcoming at Journal of Financial Markets. forthcoming - Publication
Coskun, A. and U.G. Gurun, Do Hedge Funds Follow Post-Earnings Announcement Drift? Evidence from Quarterly Holdings, forthcoming at Journal of Derivatives and Hedge Funds. forthcoming - Publication
U.G. Gurun, A. Lerman, and J. Ronen, Anticipatory and Implementation Effects of FIN 46 on the Behavior of Different Market Participants, Asia Pacific Journal of Accounting and Economics, April 2012. 2012 - Publication
Gurun, U.G., and A. Butler. Dont Believe the Hype: Local Media Slant, Local Advertising, and Firm Value. Journal of Finance, April 2012. Semifinalist for BEST PAPER in Investments, 2010 Financial Management Association meeting 2012 - Publication
A. Butler, and U.G. Gurun. Educational Networks, Mutual Fund Voting Patterns, and CEO Compensation, Review of Financial Studies, August 2012, 25 (8): 2533-2562. 2012 - Publication
Cready, W. M., and U.G. Gurun “Aggregate Market Reaction to Earnings Announcements.” Journal of Accounting Research, 2010, 289-334. 2010 - Publication
[10] Booth, G. Geoffrey and Umit G. Gurun, 2010, Arbitrage Risk and High-Volume Return Premium, in Handbook of Trading: Strategies for Navigating and Profiting from Currency, Bond, and Stock Markets edited by Greg N. Gregoriou, McGraw-Hill, NYC, NY May 2010. 2010 - Publication
Ali, A. and U.G. Gurun. Investor sentiment, accruals anomaly, and accruals management, Journal of Accounting, Auditing and Finance, Summer 2009: 415 - 431. 2009 - Publication
Booth, G.G. and U.G. Gurun, Volatility clustering and the bid-ask spread: Exchange rate behavior in early Renaissance Florence, Journal of Empirical Finance, 2008, 131-141 2008 - Publication
Booth, G. Geoffrey and Umit G. Gurun, 2007, Earnings smoothing, momentum profits and investor sophistication: Evidence from international markets, in Contributions to Accounting and Finance. Essays in Honour of Professor Paavo Yli-Olli, Timo Rothovius and Jussi Nikkinen (eds.) Acta Wasaensia No. 173, 17-37. 2007 - Publication

Appointments

Associate Professor
University of Texas at Dallas [2012–Present]
Visiting Assistant Professor
University of Texas at Dallas [2010–2011]
Assistant Professor
University of Texas at Dallas [2004–2009]

Additional Information

Service
Service on dissertation committees Co-Chair: 
  • Ting He, University of Texas at Dallas, 2012. Initial placement at University of Wisconsin-Parkside
  • Ali Coskun, University of Texas at Dallas, 2009. Initial placement at Bogazici University
Member: 
  • Ozer Asdemir (2006); Jiangxia Liu (2006); Mine Ozer(2006); Frank Zhang (2007); Musa Subasi 
  • (2012); Abdullah Kumas (2013)
Honors and Awards
Research
  • Semifinalist for Best paper in Investments, 2010 Financial Management Association meeting
  • Michigan State University Graduate School Dissertation Completion Fellowship, 2004
  • Frederick S. Addy Fellowship, 2002-2003
  • Koc University, Valedictorian, 1999
  • Koc and Bilkent University, Merit based full scholarship, 1993 - 1999
  • Selected to Turkish Mathematics Olympic team’s camps three times, 1990 - 1992

News Articles

Prof Studies Effect of Media Biases on Stock Values
A School of Management professor researching the effects of corporate news on stock prices has linked increased press coverage to the inclusion of media insiders on company boards of directors and, in a separate inquiry, found bias favoring companies in reporting by their hometown news outlets. The findings in two studies by Accounting and Information Management Assistant Professor Umit Gurun break ground in that they represent “one of the first lines of research that quantifies influence and the effect of corporate news on firm values,” he said. For investors, the results suggest several caveats: Beware potential distortions in corporate news. Be cautious in expectations of so-called independent board members—including media professionals. Be prudent and seek independent views—outside the media—about companies both before and after investing in them.
Study Examines Social Connections and Impacts of Financial Fraud
The infamous Bernie Madoff financial fraud scandal between 1980 and 2008 influenced far more than the 10,000 directly affected investors who lost billions.
A new study from UT Dallas shows the ripple effects of the loss of trust in the investment advisory industry induced by the Madoff fraud.

Madoff persuaded more than 10,000 people to trust him with their investments, falsely promising them consistent high returns. When he was caught in December 2008, the investment world was shocked by how he was able to manipulate the system to create one of the longest-running Ponzi schemes in the world.
Study Explores Impact of Firms' Financial Restatements on Bank Loans
When a company makes a mistake in its financial statements, it has to reissue them, which can have serious consequences including a loss in market value and investor confidence. 

Dr. Rebecca Files and Dr. Umit Gurun, of the Naveen Jindal School of Management at The University of Texas at Dallas, investigated whether restatements by economically related firms also influence the terms of a loan, such as an increased interest rate, for borrowers. Their study was recently published in Contemporary Accounting Research.
Researchers Analyze Deceptive Promotions for Home Loans
Lenders used misleading tactics in advertising home loans during the U.S. subprime mortgage crisis, according to a new study by a UT Dallas professor.
Dr. Umit G. Gurun
, professor of accounting and finance in the Naveen Jindal School of Management, co-authored “Advertising Expensive Mortgages,” recently published online in the Journal of Finance.

According to the study, borrowers spent on average $7,500 more on a $250,000 mortgage when taking an advertised “low-rate” mortgage, compared to an identical mortgage that was not advertised.