Vicentiu Covrig, Ph.D., CFA
Associate Professor of Finance
Department of Finance, Real Estate and Insurance
College of Business and Economics
California State University-Northridge
Office: JH 4108
Phone: (818) 677-3405
Email: vcovrig@csun.edu
Teaching
FIN437BH
Student Portfolio Management (Fall 2009)
GBUS695
Student Portfolio Management
(MBA, Fall 2009)
FIN437 Advanced Topics in Finance (Fall
2009)
FIN639
Seminar in Financial Problems
(MBA, Summer 2009)
Education
(CV)
Chartered
Financial Analyst 1998
Ph.D. Finance and Economics, Arizona State University May, 1999
(co-chairs Michael Melvin and Hank Bessembinder)
M.A. Economics, State University of New York June, 1994
(Degree awarded at Central European University, Prague, Czech Republic)
B.Sc. and M.Sc. Electrical Engineering, Bucharest Polytechnic Institute
June, 1992
Publication
- “Home Bias, Foreign Mutual Fund Holdings, and the
Voluntary Adoption of International Accounting Standards”, with Mingyi
Hung (University of Southern California) and Mark DeFond
(University of Southern California); 2007, the Journal of
Accounting Research
- “Do Domestic and Foreign Fund Managers Have Similar
Preferences for Stock Characteristics? A Cross-Country Analysis” with
Lilian Ng (U. Wisconsin-Milwaukee) and Sie Ting Lau (Nanyang
Technological University); the Journal of International Business
Studies, 2006, vol. 37; The Journal of International Business
Studies is the top journal in the international business field.
- " What Determines the Domestic Bias and
Foreign
Bias?Evidence
from Equity Mutual Fund Allocations Worldwide" with Kalok
Chan(Hong Kong University of Science
and Technology) and Lilian Ng (
University of Wisconsin-Milwaukee);
Journal of Finance, 2005 ( Full
text)
This is my best paper so far, presented at Western
Finance Association
Meeting, used as a reading assignment in
Bernard Dumas'
International Finance graduate class at
Wharton
Business School, U. Pennsylvania, and cited three
times in the
Journal of Finance. The paper was nominated for 2005 Smith
Breeden prize for the best paper at the
Journal of
Finance; mentioned in the 4th ed. of Eun and Resnick text
"International Financial Management"and in Hirschey and Nofsinger
"Investments"1st ed.;
used
in the PhD
programs at Concordia University, University de Geneve,
Southern Illinois University -Carbondale , Georgia Tech, Stockholm
School of Economics
<>
- The Relevance of Analysts’ Earnings Forecasts:
evidence from Japan" with Buen Sin Low (Nanyang Technological
University), 2005, Journal of Business, Accounting and Finance
- “ The contribution of a satellite market
to price
discovery:
Evidence from Singapore Exchange” with Buen Sin
Low
(Nanyang Technological University) and David Ding (Nanyang
Technological
University), Journal of Futures Markets, 2004
- Japanese Credit Risk and Trading Opportunities
in
the Euroyen
Market" with Jonathan Batten, Deakin
University;
Journal of Asia Pacific Economy, 2004
- "A Yen is not a Yen: TIBOR/LIBOR and the
determinants of
'Japan Premium'” with Michael Melvin (Arizona State
University)
and Buen Sin Low (Nanyang Technological University), Journal of
Financial
and Quantitative Analysis, 2004, vol. 39 (Full
Text)
- “Volume Autocorrelation, Information flow and
Investor Trading”
with Lilian Ng ( University of
Wisconsin-Milwaukee),
Journal of Banking and Finance, 2004 , vol. 28 (Full
Text)
- "The quality of the volatility traded on the
over-the-counter
market: a multihorizons study " with Buen Sin
Low
(Nanyang Technological University) , 2003, Journal of
Futures Markets
- “Asymmetric information and price discovery in
the
FX market:
does Tokyo know more about the yen?", with Michael
Melvin
(Arizona State University), Journal of Empirical Finance, 2002,
vol.
9, pages 271-285 (Full Text)
This paper
above
is my PhD dissertation, cited among others in Journal of Finance (2
times),
Journal of Political Economy
(an A+/top
journal in Economics), Journal of Financial and
Quantitative
Analysis (A+/top journal in Finance), National Bureau of
Economic
Research
(NBER) and republished in 2006 in the volume Foreign
Exchange
Markets , part of the series
The
International Library of Critical Writings in Financial Economics
Working Papers
- "Does Home Bias Affect the Firma Value?l"
with
Kalok Chan
(Hong Kong University of Science and Technology) and Lilian
Ng
( University of Wisconsin-Milwaukee)
- "Why Foreign
Investors Trade More Frequently?" with
Kalok Chan
(Hong Kong University of Science and Technology)
Work in Progress:
• “Information Asymmetry, Factor Structure and
International Portfolio Choice” with Mark Seasholes (University
of California-Berkeley)
• “ Smart investments by smart money: evidence from
the cross-listed firms in the US” with Michael Melvin (Arizona
State University)
• “Institutional investors and stock returns
synchronicity” with Mingyi Hung (University of Southern
California)