Gerard T. Hoberg
Visiting Academic Scholar
Office of Quantitative Research

Education Summary

  • Ph.D. Financial Economics, Yale University, 2004
  • M.Phil. Financial Economics, Yale University, 2002
  • M.A. Financial Economics, Yale University, 2002
  • B.A. Applied Physics and Economics, Yale University, 1994

Fields of Interest

  • Mergers, acquisitions and restructuring
  • Payout policy
  • Investment banking and venture capital
  • Text analytics
  • Securities issuance
Visiting Academic Scholar
Division of Economic and Risk Analysis
U.S. Securities and Exchange Commission
2011–present
Associate Professor of Finance (with Tenure)
Robert H. Smith School of Business
University of Maryland
2011–present
Assistant Professor of Finance
Robert H. Smith School of Business
University of Maryland
2004–2011
Director of Software Development
Ferrand Consulting, Stamford, CT
1996–2000
Research Associate
Economists Incorporated, Washington, DC
1994–1996
  • Gerard Hoberg, Gordon Phillips and Nagpurnanand Prabhala, Product Market Threats, Payouts, and Financial Flexibility, 2012, Journal of Finance, Forthcoming.
  • Kathleen Weiss Hanley and Gerard Hoberg, Litigation Risk, Strategic Disclosure and the Underpricing of Initial Public Offerings, 2012, Journal of Financial Economics 103, 235-254.
  • Gerard Hoberg and Gordon Phillips, Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis, 2010, Review of Financial Studies 23, 3773-3811.
  • Kathleen Weiss Hanley and Gerard Hoberg, Litigation Risk, The Information Content of IPO Prospectuses, 2010, Review of Financial Studies 23, 2821-2864.
  • Gerard Hoberg and Gordon Phillips, Real and Financial Industry Booms and Busts, 2010, Journal of Finance 65, 45-86.
  • Gerard Hoberg and Nagpurnanand Prabhala, Disappearing Dividends, Catering, and Risk, 2009, Review of Financial Studies 22, 79-116.
  • Gerard Hoberg, The Underwriter Persistence Phenomenon, 2007, Journal of Finance 62, 1169-1206.
  • Gerard Hoberg and Craig M. Lewis, Do Fraudulent Firms Engage in Disclosure Herding?
  • Gerard Hoberg and Gordon Phillips, Text-Based Network Industries and Endogenous Product Differentiation.
  • Christopher Ball, Gerard Hoberg and Vojislav Maksimovic, Redefining Financial Constraints: A Text-Based Analysis.
  • Gerard Hoberg and Gordon Phillips, Industry Choice and Product Language.
  • Gerard Hoberg and Gordon Phillips, The Stock Market, Product Uniqueness, and Comovement of Peer Firms.
  • Gerard Hoberg and Ivo Welch, Optimized vs. Sort-Based Portfolios.
  • Brent Goldfarb, Gerard Hoberg, David Kirsch, and Alex Triantis, Does Angel Participation Matter? An Analysis of Early Venture Financing.

Conference Activities

Paper Presentation, 2013 WFA Conference
Paper presentation and discussant, 2012 23rd Annual CFEA Conference
Paper presentation, 2012 City University of Hong Kong International Finance Conference
Paper presentation, 2012 WFA Conference
Discussant, 2011 Washington University Corporate Finance Conference
Discussant, 2011 UBC Winter Finance Conference
Discussant, 2010 CFEA Conference, University of Maryland
Paper presentation, 2010 AFA Conference
Paper presentation, 2009 Washington University Corporate Finance Conference
Paper presentation and discussant, 2008 AFA Conference
Paper presentation and discussant, 2007 AFA Conference
Paper presentation, 2007 NBER Corporate Finance Workshop
Paper presentation, 2007 WFA Conference
Discussant, 2007 Maryland Behavioral Finance Symposium
Paper presentation, 2007 NBER Asset Pricing Workshop
Paper presentation, 2006 AFA Conference
Paper presentation, 2006 Utah Winter Conference
Discussant, 2005 AFA Conference
Discussant, 2004 AFA Conference

University Presentations

University of British Columbia, 2013
University of Pittsburgh, 2013
University of Utah, 2012
University of Michigan, 2012
Nanyang Business School, 2012
National University of Singapore, 2012
University of Chicago, 2012
Singapore Management University, 2012
Kauffman Foundation, 2012
U.S. Securities and Exchange Commission, 2011
Temple University, 2011
George Mason University, 2010
Michigan State University, 2010
University of Arizona, 2010
Barclays Global Investors, 2009
U.S. Department of Justice, 2008
U.S. Securities and Exchange Commission, 2008
University of Michigan, 2006
University of Michigan, 2005
U.S. Securities and Exchange Commission, 2005
Virginia Tech, 2005
Towson University, 2005
University of Maryland, 2004
Indiana University, 2004
University of Rochester, 2004
University of Michigan, 2004