Gerard Hoberg

University of Southern California - Marshall School of Business - Finance and Business Economics Department

Charles E. Cook Community Bank Professor of Finance

Marshall School of Business

Los Angeles, CA 90089

United States

http://faculty.marshall.usc.edu/Gerard-Hoberg/

  • University of Southern California - Marshall School of Business - Finance and Business Economics Department

SCHOLARLY PAPERS

36

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688

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556

Scholarly Papers (36)

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1.

Text-Based Network Industries and Endogenous Product Differentiation

Journal of Political Economy, Forthcoming
Number of pages: 69 Posted: 09 Dec 2009 Last Revised: 04 Jul 2015
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business - Finance and Business Economics Department and Dartmouth College - Tuck School of Business
Downloads 5,333 (1,715)
Citation 92

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Industry Classifications, Endogenous Barriers to Entry, Product Market Competition, Product Differentiation

2.

Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis

Number of pages: 48 Posted: 07 Aug 2008 Last Revised: 18 Aug 2011
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business - Finance and Business Economics Department and Dartmouth College - Tuck School of Business
Downloads 2,811 (5,205)
Citation 53

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Mergers, Product Markets, Text Analysis, Merger Strategies

3.

Product Market Threats, Payouts, and Financial Flexibility

Journal of Finance, Forthcoming
Number of pages: 55 Posted: 17 Mar 2011 Last Revised: 07 Sep 2012
Gerard Hoberg, Gordon M. Phillips and Nagpurnanand Prabhala
University of Southern California - Marshall School of Business - Finance and Business Economics Department, Dartmouth College - Tuck School of Business and The Johns Hopkins Carey Business School
Downloads 2,393 (6,786)
Citation 81

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Dividends, Repurchases, Payout, Cash, Product Markets, Dynamic Product Markets, Competition

4.

The Information Content of IPO Prospectuses

Review of Financial Studies, Vol. 23, p. 2821-2864, 2010, AFA 2010 Atlanta Meetings Paper
Number of pages: 54 Posted: 15 Jan 2009 Last Revised: 22 Jan 2012
Kathleen Weiss Hanley and Gerard Hoberg
Lehigh University - College of Business and University of Southern California - Marshall School of Business - Finance and Business Economics Department
Downloads 2,056 (8,737)
Citation 28

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IPOs, Disclosure, Underpricing, Initial Public Offerings, Book Building, Due Diligence, Equity Offerings

5.

Innovation Activities and Integration through Vertical Acquisitions

Review of Financial Studies, Forthcoming, Swiss Finance Institute Research Paper No. 19-36
Number of pages: 79 Posted: 31 Mar 2013 Last Revised: 13 Jul 2019
Laurent Frésard, Gerard Hoberg and Gordon M. Phillips
Universita della Svizzera italiana (USI Lugano), University of Southern California - Marshall School of Business - Finance and Business Economics Department and Dartmouth College - Tuck School of Business
Downloads 1,622 (12,759)
Citation 22

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Mergers and Acquisitions, Vertical Mergers, Vertical Integration

6.

Are Angels Different? An Analysis of Early Venture Financing

Robert H. Smith School Research Paper No. RHS 06-072
Number of pages: 54 Posted: 19 Mar 2008 Last Revised: 29 Oct 2014
Brent D. Goldfarb, Gerard Hoberg, David Kirsch and Alexander J. Triantis
University of Maryland - Robert H. Smith School of Business, University of Southern California - Marshall School of Business - Finance and Business Economics Department, University of Maryland and Johns Hopkins University - Carey Business School
Downloads 1,423 (15,682)
Citation 4

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Venture Capital, Angel Investors, Entrepreneurship, Control Rights, Term Sheets

7.

Real and Financial Industry Booms and Busts

Downloads 1,400 ( 16,092)
Citation 90

Real and Financial Industry Booms and Busts

Journal of Finance, Forthcoming
Number of pages: 42 Posted: 21 Mar 2008 Last Revised: 29 Apr 2009
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business - Finance and Business Economics Department and Dartmouth College - Tuck School of Business
Downloads 1,371 (16,291)
Citation 20

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Product Markets, competition, stock, returns, booms, busts, analysts

Real and Financial Industry Booms and Busts

NBER Working Paper No. w14290
Number of pages: 46 Posted: 01 Sep 2008 Last Revised: 20 Jul 2010
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business - Finance and Business Economics Department and Dartmouth College - Tuck School of Business
Downloads 29 (568,189)

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8.

Redefining Financial Constraints: A Text-Based Analysis

Number of pages: 55 Posted: 08 Sep 2011 Last Revised: 24 Oct 2014
Gerard Hoberg and Vojislav Maksimovic
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of Maryland - Robert H. Smith School of Business
Downloads 1,368 (16,657)
Citation 46

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Financial Constraints, Research and Development, Equity Issuance, Asymmetric Information, Debt Overhang, Debt Issuance, Text-Based Analysis

9.

Disclosure, Business Change and Earnings Quality

Number of pages: 54 Posted: 04 May 2013 Last Revised: 09 Sep 2015
Christopher Ball, Gerard Hoberg and Vojislav Maksimovic
Meta Heuristica, LLC, University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of Maryland - Robert H. Smith School of Business
Downloads 1,320 (17,595)
Citation 6

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10-K, MD&A, Disclosure, Value Relevance, Text Analytics, Latent Dirichlet Allocation, Discretionary Accruals

10.

Optimized vs. Sort-Based Portfolios

AFA 2010 Atlanta Meetings Paper
Number of pages: 45 Posted: 14 Jan 2009 Last Revised: 28 Dec 2009
Gerard Hoberg and Ivo Welch
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of California, Los Angeles (UCLA)
Downloads 1,172 (21,062)
Citation 6

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book-to-market, HML, characteristics, factors

11.

Text-Based Industry Momentum

Number of pages: 71 Posted: 04 Oct 2014 Last Revised: 01 Jul 2017
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business - Finance and Business Economics Department and Dartmouth College - Tuck School of Business
Downloads 1,119 (22,581)
Citation 10

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Momentum, Information Processing, Industry Shocks, Stock Returns, Alpha, Trading Strategies, Market Efficiency, Reversals

12.

Do Fraudulent Firms Produce Abnormal Disclosure?

Vanderbilt Owen Graduate School of Management Research Paper No. 2298302, Robert H. Smith School Research Paper
Number of pages: 52 Posted: 26 Jul 2013 Last Revised: 23 Apr 2015
Gerard Hoberg and Craig M. Lewis
University of Southern California - Marshall School of Business - Finance and Business Economics Department and Vanderbilt University - Finance
Downloads 1,062 (24,336)
Citation 12

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Fraud, Disclosure, Herding, Litigation, Text Analytics, Enforcement

13.

Disappearing Dividends, Catering, and Risk

Downloads 1,039 ( 25,114)

Disappearing Dividends, Catering, and Risk

AFA 2007 Chicago Meetings Paper
Number of pages: 54 Posted: 22 Mar 2005 Last Revised: 16 Dec 2007
Gerard Hoberg and Nagpurnanand Prabhala
University of Southern California - Marshall School of Business - Finance and Business Economics Department and The Johns Hopkins Carey Business School
Downloads 1,039 (24,716)
Citation 26

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Dividends, idiosyncratic volatility, idiosyncratic risk

Disappearing Dividends, Catering, and Risk

The Review of Financial Studies, Vol. 22, Issue 1, pp. 79-116, 2009
Posted: 03 Jan 2009
Gerard Hoberg and Nagpurnanand Prabhala
University of Southern California - Marshall School of Business - Finance and Business Economics Department and The Johns Hopkins Carey Business School

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G15, G30, G38

14.

Product Market Uniqueness, Organizational Form and Stock Market Valuations

Number of pages: 45 Posted: 13 Oct 2012 Last Revised: 01 Sep 2014
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business - Finance and Business Economics Department and Dartmouth College - Tuck School of Business
Downloads 953 (28,498)
Citation 8

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stock market valuations, organizational form, conglomerate firms, uniqueness

15.

Dynamic Interpretation of Emerging Risks in the Financial Sector

Forthcoming Review of Financial Studies
Number of pages: 77 Posted: 11 Jun 2016 Last Revised: 21 Mar 2019
Kathleen Weiss Hanley and Gerard Hoberg
Lehigh University - College of Business and University of Southern California - Marshall School of Business - Finance and Business Economics Department
Downloads 948 (28,696)
Citation 18

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Emerging Risk, Bank, Financial Institutions, Financial Crisis, Computational Linguistics, Text Analytics, Failure

16.

Do Insiders Exploit Anomalies?

Marshall School of Business Working Paper No. 17-1
Number of pages: 60 Posted: 03 Jul 2015 Last Revised: 21 Nov 2018
Deniz Anginer, Gerard Hoberg and H. Nejat Seyhun
Simon Fraser University (SFU), University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of Michigan, Stephen M. Ross School of Business
Downloads 944 (28,877)
Citation 2

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Anomalies, behavioral finance, asset pricing, factor models, market efficiency, insider trading

17.

Life Cycles of Firm Disclosures

Number of pages: 66 Posted: 03 Nov 2020 Last Revised: 15 Jan 2021
AJ Chen, Gerard Hoberg and Vojislav Maksimovic
University of Southern California - Marshall School of Business, University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of Maryland - Robert H. Smith School of Business
Downloads 937 (29,233)
Citation 1

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Disclosures, Life-Cycle, Investment, Competition, Patents, Redaction, EDGAR Search

18.

Aged and Recent Market Betas in Securities Pricing

Number of pages: 56 Posted: 17 Dec 2009
Gerard Hoberg and Ivo Welch
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of California, Los Angeles (UCLA)
Downloads 911 (30,401)
Citation 5

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market-beta, factor pricing, APT

19.

Mutual Fund Competition, Managerial Skill, and Alpha Persistence

Forthcoming, Review of Financial Studies, Finance Down Under 2015 Building on the Best from the Cellars of Finance Paper, Robert H. Smith School Research Paper No. RHS 2422906
Number of pages: 97 Posted: 11 Apr 2014 Last Revised: 28 Sep 2017
Gerard Hoberg, Nitin Kumar and Nagpurnanand Prabhala
University of Southern California - Marshall School of Business - Finance and Business Economics Department, Indian School of Business (ISB), Hyderabad and The Johns Hopkins Carey Business School
Downloads 899 (30,994)
Citation 19

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Mutual funds, alpha, skill, persistence, competition, peers, benchmarking

20.

Industry Choice and Product Language

Downloads 767 ( 38,523)
Citation 3

Industry Choice and Product Language

Number of pages: 45 Posted: 05 Jun 2011 Last Revised: 01 Apr 2015
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business - Finance and Business Economics Department and Dartmouth College - Tuck School of Business
Downloads 745 (39,490)
Citation 2

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Conglomerates, Firm Organization, Industrial Organization, Product Market Competition, Conglomerate Valuation

Conglomerate Industry Choice and Product Differentiation

NBER Working Paper No. w17221
Number of pages: 50 Posted: 16 Jul 2011
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business - Finance and Business Economics Department and Dartmouth College - Tuck School of Business
Downloads 22 (616,007)
Citation 1

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21.

Offshore Activities and Financial vs Operational Hedging

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 56 Posted: 19 Jun 2014 Last Revised: 08 Sep 2016
Gerard Hoberg and S. Katie Moon
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of Colorado at Boulder - Leeds School of Business
Downloads 705 (43,182)
Citation 19

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Offshore Activities, Operational Hedging, Financial Hedging, Global Consumption Risk, 10-K Filings

22.

Do Underwriters Collaborate with Venture Capitalists in Ipos? Implications and Evidence

AFA 2006 Boston Meetings Paper
Number of pages: 52 Posted: 24 Mar 2005 Last Revised: 07 Apr 2009
Gerard Hoberg and H. Nejat Seyhun
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of Michigan, Stephen M. Ross School of Business
Downloads 593 (54,254)
Citation 9

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IPOs, initial public offerings, intial returns, collaboration, venture capital, underwriter, strategic alliances, quid pro quos

23.

Rapidly Evolving Technologies and Startup Exits

Swiss Finance Institute Research Paper No. 19-22, USC Marshall School of Business Research Paper Sponsored by iORB, No. Forthcoming
Number of pages: 73 Posted: 25 Sep 2018 Last Revised: 23 Mar 2021
Donald E. Bowen III, Laurent Frésard and Gerard Hoberg
Lehigh University, Universita della Svizzera italiana (USI Lugano) and University of Southern California - Marshall School of Business - Finance and Business Economics Department
Downloads 582 (55,523)
Citation 3

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Startup Exit, Initial Public Offerings (IPOs), Acquisitions, Sell-Outs, Technology Substitution, Venture Capital

24.

Product Life Cycles in Corporate Finance

Number of pages: 82 Posted: 01 Jun 2018 Last Revised: 12 Feb 2021
Gerard Hoberg and Vojislav Maksimovic
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of Maryland - Robert H. Smith School of Business
Downloads 580 (55,768)
Citation 4

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product life cycles, corporate investment, mergers, acquisitions, divestitures, tobins Q, text analysis

25.

Litigation Risk, Strategic Disclosure and the Underpricing of Initial Public Offerings

Downloads 560 ( 58,246)
Citation 56

Litigation Risk, Strategic Disclosure and the Underpricing of Initial Public Offerings

Number of pages: 44 Posted: 06 Nov 2009 Last Revised: 22 Jan 2012
Kathleen Weiss Hanley and Gerard Hoberg
Lehigh University - College of Business and University of Southern California - Marshall School of Business - Finance and Business Economics Department
Downloads 381 (92,072)
Citation 5

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Initial Public Offerings, Litigation Risk, Liability Risk, Strategic Disclosure, IPO Prospectus, Text Analysis

Litigation Risk, Strategic Disclosure and the Underpricing of Initial Public Offerings

FEDS Working Paper No. 2011-12
Number of pages: 45 Posted: 18 Apr 2011 Last Revised: 28 Aug 2014
Kathleen Weiss Hanley and Gerard Hoberg
Lehigh University - College of Business and University of Southern California - Marshall School of Business - Finance and Business Economics Department
Downloads 179 (199,570)
Citation 13

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initial public offerings, disclosure, litigation, securities underwriting

26.

The Offshoring Return Premium

Management Science (MS), Forthcoming
Number of pages: 49 Posted: 02 Jan 2014 Last Revised: 27 Aug 2017
Gerard Hoberg and S. Katie Moon
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of Colorado at Boulder - Leeds School of Business
Downloads 536 (61,564)
Citation 17

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Offshore Activities, Stock Returns, Risk Premia, Global Trade Network, Consumption Risk

27.

Does Product Market Competition Drive CVC Investment? Evidence from the U.S. IT Industry

Forthcoming at Information Systems Research
Number of pages: 59 Posted: 03 May 2013 Last Revised: 22 Sep 2016
Keongtae Kim, Anandasivam Gopal and Gerard Hoberg
Decision Science and Managerial Economics, Chinese University of Hong Kong, University of Maryland - Robert H. Smith School of Business and University of Southern California - Marshall School of Business - Finance and Business Economics Department
Downloads 497 (67,679)
Citation 10

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information technology, product market competition, corporate venture capital, absorptive capacity, innovation, econometrics, text analysis

28.

Product Integration and Merger Success

Tuck School of Business Working Paper No. 2933283, Marshall School of Business Working Paper No. 17-21
Number of pages: 47 Posted: 16 Mar 2017 Last Revised: 26 Aug 2018
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business - Finance and Business Economics Department and Dartmouth College - Tuck School of Business
Downloads 466 (73,254)
Citation 5

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mergers, integration, innovation, stock returns, product markets, text analysis

29.

Buy-Side Competition and Momentum Profits

Review of Financial Studies, Forthcoming
Number of pages: 117 Posted: 01 Mar 2018 Last Revised: 02 Dec 2020
Gerard Hoberg, Nitin Kumar and Nagpurnanand Prabhala
University of Southern California - Marshall School of Business - Finance and Business Economics Department, Indian School of Business (ISB), Hyderabad and The Johns Hopkins Carey Business School
Downloads 416 (84,060)

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Momentum, Competition, Mutual Funds, Market Efficiency, Return Predictability

30.

The Underwriter Persistence Phenomenon

Number of pages: 51 Posted: 25 Jan 2005
Gerard Hoberg
University of Southern California - Marshall School of Business - Finance and Business Economics Department
Downloads 402 (87,220)
Citation 7

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Initial Public Offers, IPOs, corporate finance, underwriters, initial returns, underpricing

31.

U.S. - China Innovation Competition

Downloads 352 (101,651)
Citation 1

U.S. - China Innovation Competition

Tuck School of Business Working Paper No. 3294389
Number of pages: 68 Posted: 09 Dec 2018 Last Revised: 07 Apr 2021
Gerard Hoberg, Bruce Yuan Li and Gordon M. Phillips
University of Southern California - Marshall School of Business - Finance and Business Economics Department, affiliation not provided to SSRN and Dartmouth College - Tuck School of Business
Downloads 343 (103,868)
Citation 1

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Innovation, competition, China, investment, internet penetration

Internet Access and U.S. - China Innovation Competition

NBER Working Paper No. w28231
Number of pages: 69 Posted: 23 Dec 2020 Last Revised: 20 Feb 2021
Gerard Hoberg, Yuan Li and Gordon M. Phillips
University of Southern California - Marshall School of Business - Finance and Business Economics Department, University of Southern California - Marshall School of Business and Dartmouth College - Tuck School of Business
Downloads 9 (716,516)
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32.

Noise in Stock Returns as Natural Experiments: Forward- and Backward-Looking Market-Betas, Momentum, and Reversals

Number of pages: 49 Posted: 23 Mar 2009 Last Revised: 14 May 2009
Gerard Hoberg and Ivo Welch
University of Southern California - Marshall School of Business - Finance and Business Economics Department and University of California, Los Angeles (UCLA)
Downloads 302 (120,228)

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33.

Scope, Scale and Competition: The 21st Century Firm

Number of pages: 72 Posted: 19 Feb 2021 Last Revised: 10 Apr 2021
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business - Finance and Business Economics Department and Dartmouth College - Tuck School of Business
Downloads 272 (134,154)

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firm scope, economies of scope, products, concentration, firm size, scale

34.

Shocks to Product Networks and Post-Earnings Announcement Drift

Number of pages: 71 Posted: 06 Jul 2016 Last Revised: 14 Jan 2021
Bok Baik, Gerard Hoberg, Jungbae Kim and Peter Oh
Seoul National University, University of Southern California - Marshall School of Business - Finance and Business Economics Department, Singapore Management University and McGill University - Desautels Faculty of Management
Downloads 231 (157,735)
Citation 1

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Product market, TNIC, Networks, Persistence, Inattention, Supply shocks, Post-earnings announcement drift

35.

Text-Based Network Industries and Endogenous Product Differentiation

NBER Working Paper No. w15991
Number of pages: 51 Posted: 17 May 2010 Last Revised: 13 Mar 2021
Gordon M. Phillips and Gerard Hoberg
Dartmouth College - Tuck School of Business and University of Southern California - Marshall School of Business - Finance and Business Economics Department
Downloads 137 (249,399)
Citation 73

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36.

Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis

NBER Working Paper No. w14289
Number of pages: 56 Posted: 01 Sep 2008 Last Revised: 19 Jul 2010
Gerard Hoberg and Gordon M. Phillips
University of Southern California - Marshall School of Business - Finance and Business Economics Department and Dartmouth College - Tuck School of Business
Downloads 77 (367,168)
Citation 109

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