Picture of G. Hoberg

Gerard Hoberg

Associate Professor of Finance

Robert H. Smith School of Business
University of Maryland

ghoberg at rhsmith dot umd dot edu

4423 Van Munching Hall
University of Maryland
College Park, MD 20742-1815

Phone: 301.405.9685
Fax: 301.405.0359

Gerard Hoberg's Research

Selected Working Papers

  • Offshore Activities and Financial vs Operational Hedging (with Katie Moon). [Download]

  • Offshore Activities and Global Consumption Risk (with Katie Moon). [Download]

  • Do Fraudulent Firms Engage in Disclosure Herding? (with Craig Lewis). [Download]

  • Disclosure Informativeness and the Tradeoff Hypothesis: A Text-Based Analysis (with Christopher Ball and Vojislav Maksimovic). [Download]

  • The Incentives for Vertical Mergers and Vertical Integration (with Laurent Fresard and Gordon Phillips). [Download]

  • Mutual Fund Competition, Managerial Skill, and Alpha Persistence (with Nitin Kumar and Nagpurnanand Prabhala). [Download]

  • Text-Based Network Industries and Endogenous Product Differentiation (with Gordon Phillips). [Download]

  • Redefining Financial Constraints: a Text-Based Analysis (with Vojislav Maksimovic). [Download]

  • The Stock Market, Product Uniqueness, and Comovement of Peer Firms (with Gordon Phillips). [Download]

  • Industry Choice and Product Language (with Gordon Phillips). [Download]

  • Does Angel Participation Matter? An Analysis of Early Venture Financing (with Brent Goldfarb, David Kirsch, and Alex Triantis). [Download]

  • Product Market Competition and Corporate Venture Capital Investment in the IT Industry: An Empirical Analysis (with Keongtae Kim and Anand Gopal). [Download]

Published Articles

  • Product Market Threats, Payouts, and Financial Flexibility (with Gordon Phillips and Nagpurnanand Prabhala),
    Journal of Finance (February 2014) 69, 293-324. [Download]

  • Litigation Risk, Strategic Disclosure and the Underpricing of Initial Public Offerings, (with Kathleen Hanley),
    Journal of Financial Economics (February 2012) 103, 235-254.. [Download]

  • Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis, (with Gordon Phillips),
    Review of Financial Studies (October 2010) 23 (10), 3773-3811. [Download]

  • The Information Content of IPO Prospectuses (with Kathleen Hanley),
    Review of Financial Studies (July 2010) 23 (7), 2821-64. [Download]

  • Real and Financial Industry Booms and Busts (with Gordon Phillips),
    Journal of Finance (January 2010) 65 (1), 45-86. [Download]

  • Disappearing Dividends, Catering, and Risk (with N.R. Prabhala),
    Review of Financial Studies (January 2009) 22 (1), 79-116. [Download]

  • The Underwriter Persistence Phenomenon,
    Journal of Finance (June 2007) 62 (3), 1169-1206. [Download]


  • Hoberg and Phillips Data Library. [Download Industry Data]

  • Jerry's SSRN Author Page. [View All Working Papers]

  • Interests: Corporate Finance, Industrial Organization, IPOs, M&A, Payout Policy, Financial Constraints,
    Product Markets, Municipal Bonds, and Empirical Asset Pricing.

Back to top