Research@Smith: Spring 2013

It’s 4 p.m. Do you know where your hedge fund is?

In August 2007, large hedge funds began suffering significant losses mid-month. Investors were left guessing about both the performance of their managers and the impact of losses on their overall portfolios.
Such volatility, compounded by extreme market movements and uncertainty heading into 2008, fueled a recently published, award-winning study by Associate Professor of Finance Russ Wermers and co-authors Michael Marcov and Daniel Li.

Dean's Column

I remember a time when researchers who wanted to study human behavior had to use one-way mirrors and paper-and-pencil surveys. These days, my faculty don’t want to just ask people what they think of a product. They want to watch people use a product, and evaluate how they react to it.

Executive Profile: Larry Biess

When Larry Biess was recruited to CSX, he was only vaguely aware of the many facets of CSX’s day-to-day operations. Nearly two decades later, Biess is Director of Operations Support Systems at the $11.8 billion transportation company, which provides traditional rail service as well as the transport of intermodal containers and trailers.


Another Repatriation Tax Holiday?

U.S. law makers should avoid, or at least restructure, giving American firms another tax holiday in attempts to get them to reinvest their foreign earnings domestically, according to research by Mike Faulkender, associate professor of finance. His findings show the reinvestment from tax holiday created by the 2004 American Jobs Creation Act (AJCA) – which cut the tax rate from 35% to 5% -- was marginal and primarily from smaller companies. Big firms applied very little repatriated funds to new investment.

Behavioral Lab Turns 10

On any given day, you might find a group of undergraduates in Van Munching Hall playing video games, eating snack foods or staring at computer screens. Don’t worry; these students aren’t slacking on their studies – they are helping Smith faculty with theirs.

These types of experiments and many others are conducted almost daily in the Smith School’s Behavioral Laboratory. It’s the place to be for researchers wanting to find out how human behaviors influence decisions – everything from what people purchase, to the business deals they make, to how they use information technology.

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Robert H. Smith School of Business
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University of Maryland
Robert H. Smith School of Business
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