Steve Slezak

Headshot of Steve Slezak

Steve Slezak

Director, Carl H. Lindner III Center for Insurance and Risk Management, Associate Professor, Department of Finance, Real Estate, and Insurance and Risk Management

2331 Carl H. Lindner Hall

513-556-6531

Dr. Slezak earned his PhD in Economics at UC San Diego. He has served at the University of Michigan and the University of North Carolina at Chapel Hill, prior to his joining the University of Cincinnati in 2002.

Teaching Interest
Financial management, Managerial economics, Options and Futures, Risk Management, Portfolio Management, and Asset Pricing and Asymmetric Information (Ph.D.)

Research Interest
Insider Trading, Asset Pricing with Asymmetric Information, Incentives to Commit Fraud, and Corporate Governance.

History
Institution: University of Cincinnati, Carl H. Lindner College of Business
Title: Associate Professor

Institution: University of Michigan, Ross School of Business
Title: Visiting Professor of Finance
End Date: 2011-08-31

Institution: University of Cincinnati, College of Business
Title: Associate Professor
End Date: 2009-08-31

Institution: University of Cincinnati, College of Business
Title: Assistant Professor
End Date: 2003-08-31

Institution: University of North Carolina, Chapel Hill, Kenan-Flagler Business School
Title: Adjunct Assistant Professor
End Date: 2002-08-31

Institution: University of North Carolina, Chapel Hill, Kenan-Flagler Business School
Title: Assistant Professor
End Date: 2000-06-30

Institution: University of Michigan Business School
Title: Assistant Professor
End Date: 1995-08-31

Assignments
Director, Carl H. Lindner III Center for Insurance and Risk Management
Dates: 2013-06-01

Director of the Undergraduate Program in Insurance and Risk Management
Dates: 2013-06-01

Undergraduate Program Director of Finance
Dates: 2012-08-15 - 2013-08-15

Development and execution of graduate and undergraduate curriculum, faculty development, new faculty recruiting, student advising, support activities for the capital campaign, and member of the academic council for the College.
Dates: 2006-09-01 - 2009-08-01

Academic Director of MBA Programs and Director of the Graduate Programs Office:  Administered academic aspects of MBA Programs (full- and part-time) and managed professional staff serving MBA and MS programs.
Dates: 2004-10-01 - 2006-08-31

Awards | Honors
Organization: Financial Management Association
Name: Semi-finalist for best paper award
Year Received: 2010

Organization: University of Cincinnti, College of Business
Name: Harold J. Grilliot Award for Exemplary Service to Undergraduate Organizations
Year Received: 2009

Organization: Taiwan Stock Exchange
Name: Taiwan Stock Exchange BEst Paper Award
Year Received: 2009

Organization: University of Cincinnati, College of Business
Name: Michael L. Dean Excellence in Classroom Education and Learning EXCEL Graduate Teaching Award
Year Received: 2008

Organization: Kenan-Flagler Business School, University of North Carolina, Chapel Hill
Name: Weatherspoon Award for Excellence in MBA Teaching
Year Received: 2000

Education
Institution: University of California, San Diego
Location: San Diego, California
Major: Economics
Dissertation: A Theory of the Dynamics of Security Returns Around Market Closures
Completed: 1989
Degree: Ph D

Institution: University of California, San Diego
Location: San Diego, California
Major: Economics
Dissertation: n/a
Completed: 1985
Degree: MA

Institution: University of California, San Diego
Location: San Diego, California
Major: Economics
Dissertation: n/a
Completed: 1981
Degree: BA

Published Contributions
Steve Slezak, Haimont Kassa, Doina Chichernea, (2019). Lottery Preferences and the Idiosyncratic Volatility Puzzle. European Financial Management, 655-683.

Steve Slezak, Buhui Qui, (2019). The Equilibrium Relationships between Equity-Based Compensation and the Commission and Detection of Fraudulent Misreporting. The Accounting Review, 325-359.

Brian Kluger, Steve Slezak,  (2018). Signal jamming models of fraudulent misreporting and economic prospects: An experimental investigation. Journal of Economic Behavior and Organization, 254-283.

Steve Slezak,  (2014). Advanced Investments. The Great Courses, The Teaching Company.

Steve Slezak, Doina Chichernea,  (2013). Idiosyncratic Risk Premia and Momentum. Journal of Financial Research, 389-412.

Eliezer  Fich, Steve Slezak,  (2008). Can Corporate Governance Save Distressed Firms from Bankruptcy? An Empirical Analysis. Review of Quantitative Finance and Accounting, 225-251.

Eitan  Goldman, Steve Slezak,  (2006). An Equilibrium Model of Incentive Contracts in the Presence of Information Manipulation. Journal of Financial Economics , 603-626.

Steve Slezak,  (2003). On the Impossibility of Weak-Form Efficient Markets. Journal of Financial and Quantitative Analysis.

Eitan  Goldman, Steve Slezak,  (2003). Delegated Portfolio Management and Rational Prolonged Mispricing . Journal of Finance, 283-311.

Naveen Khanna, Steve Slezak,  (2000). The Effect of Organizational Form on Information Flow and Decision Quality:  Informational Cascades in Group Decision-Making . Journal of Economics and Management Strategy, 115-156.

Naveen  Khanna, Steve Slezak, Michael  Bradley,  (1994). Insider Trading, Outside Search and Resource Allocation:  Why Firms and Society May Disagree on Insider Trading Restrictions . Review of Financial Studies, 575-608.

Steve Slezak,  (1994). A Theory of the Dynamics of Security Returns Around Market Closures. Journal of Finance , 1163-1212.

Accepted Contributions
Steve Slezak, Brian Kluger,  ,  (Accepted). Signal Jamming Models of Fraudulent Misreporting and Economic Prospects:  An Experimental Investigation of Fraudulent Misreporting. Journal of Economic Behavior and Organization.

Research in progress
Title: A Simple Model of Costly Hedging
Status: On-Going
Research Type: Scholarly

Title: Are Incentive Contracts too short-sighted?
Status: On-Going
Research Type: Scholarly

Title: Capital Gains Overhang and the Closed-End Fund Puzzle
Research Type: Scholarly

Title: Incentive Compensation, Fraud, and Amplified Downturns
Status: On-Going
Research Type: Scholarly

Title: The Economic Significance and Arbitrage of Idiosyncratic Risk
Research Type: Scholarly

Presentations
Title: What Drives the Instability of Book‑to‑Market Portfolios?
Organization: Southern Finance Association
Location: Orlando, FL
Year: 2019

Title: Explaining Cross‑Sectional Title Insurance Premiums
Organization: American Real Estate and Urban Economics Association
Location: Milan, Italy
Year: 2019

Title: Explaining Cross‑Sectional Title Insurance Premiums
Organization: Homer Hoyt Institute for Advanced Studies
Location: West Palm Beach, Florida
Year: 2019

Title: Fraudulent Misreporting and the Business Cycle:  An Experimental Investigation
Organization: University of Cincinnati
Location: Cincinnati, Ohio
Year: 2017

Title: Fraudulent Misreporting and the Business Cycle; An Experimental Investigation
Organization: Interdisciplanary Center for Economic Sciences
Location: George Mason University
Year: 2015

Title: Lottery Preferences and the Time Series Variation of the Idiosyncratic Volatility Puzzle
Organization: Midwest Finance Association
Year: 2014

Title: The Inevitable Tension between Long-term and Short-term Managerial and Investor Incentives
Organization: Financial Management Association Europe
Year: 2014

Title: “Lottery Preferences and the Time Series Variation of the Idiosyncratic Volatility Puzzle”
Organization: Southern Finance Association
Location: Key West, FL
Year: 2014

Title: “Lottery Preferences and the Time Series Variation of the Idiosyncratic Volatility Puzzle”
Organization: Southwestern Finance Association
Location: Dallas, TX
Year: 2014

Title: The Inevitable Tension between Long-term and Short-term Managerial and Investor Incentives
Organization: Southwestern Finance Association
Year: 2013

Title: Lottery Preferences and the Time Series Variation of the Idiosyncratic Volatility Puzzle
Organization: FInancial Management Association
Location: Chicago
Year: 2013

Title: The Inevitable Tension between Long-term and Short-term Managerial and Investor Incentives
Organization: Financial Management Association
Year: 2013

Title: The Equilibrium Relationships between Equity-Based Compensation and the Commission and Detection of Fraudulent Misreporting
Organization: American Accounting Association
Location: San Diego
Year: 2013

Title: Lying About Bad News:  An Experimental Investigation of Fraudulent Misreporting
Organization: International Economic Science Association
Location: NYU
Year: 2012

Title: The Optimal Portfolio Weight fopr Real Estate with Liquidity Risk and Uncertainty Aversion
Organization: AREUEA
Year: 2010

Title: Idiosyncratic Risk Premia and Momentum
Organization: Financial Management Association
Year: 2010

Title: The Strategic Interaction between Committing and Detecting Fraudulent Misreporting
Location: Taiwan
Year: 2009

Title: Economic Significance of Idiosyncratic Risk
Year: 2008

Title: The Strategic Interaction between Committing and Detecting Fraudulent Misreporting
Organization: Finance Management Association
Location: Dallas, Texas
Year: 2008

Title: The Strategic Interaction between Committing and Detecting
Organization: Western Finance Association
Location: Hawaii
Year: 2008

Title: Capital Gains Overhang and the Closed-End Fund Discount
Year: 2007

Title: An Equilibrium Model of Incentive Contracts in the Presence of Information Manipulation
Year: 2005

Title: An Equilibrium Model of Incentive Contracts in the Presence of Information Manipulation
Year: 2004

Title: An Equilibrium Model of Incentive Contracts in the Presence of Information Manipulation
Year: 2004

Organization: Financial Management Association Meetings
Year: 2004

Organization: Western Finance Association Meetings
Year: 2003

Title: Delegated Portfolio Management and Rational Prolonged Mispricing
Year: 2001

Title: The Theoretical Impact of Long- versus Short-lived Liquidity Shocks on Asset Returns in Markets with Asymmetric Information
Year: 2000

Organization: Financial Management Association Meetings
Year: 2000

Title: The Theoretical Implications of Asymmetric Information on the Dynamic and Cross-Sectional Characteristics of Asset Returns
Year: 1999

Title: The Theoretical Implications of Asymmetric Information on the Dynamic and Cross-Sectional Characteristics of Asset Returns
Year: 1999

Organization: World Financial Crisis Confernece< Duke University
Year: 1998

Organization: Western Association Meetings
Year: 1996

Organization: Western Finance Association Meetings
Year: 1996

Organization: American Finance Association Meetings
Year: 1996

Organization: Western Finance Association Meetings
Year: 1995

Title: A Theory of the Dynamics of Security Returns Around Market Closures
Year: 1994

Title: A Theory of the Dynamics of Security Returns Around Market Closures
Year: 1994

Title: The Effect of Organizational Form on Information Aggregation and Project Choice:  The Problem of Informational Cascades in Teams
Year: 1994

Organization: Western Finance Association Meetings
Year: 1994

Title: Insider Trading, Outside Search and Resource Allocation:  Why Firms and Society May Disagree on Insider Trading Restrictions
Year: 1993

Title: Insider Trading, Outside Search and Resource Allocation:  Why Firms and Society May Disagree on Insider Trading Restrictions
Year: 1993

Organization: Econometric Society Meetings
Year: 1993

Organization: Econometric Society Meetings
Year: 1989