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Neal Stoughton

Univ.Prof. Dr. Neal Stoughton
Email:
Contact information and photo taken from and editable at WU Directory.

CV

since 2011
Professor for Finance and Endowment Management, WU Wirtschaftsuniveristät Wien
2008-2011
Macquarie Bank Chair in Financial Services and Professor of Finance, University of New South Wales; Head of the school of banking and finance from 2008-2010.
2008
Visiting Professor, University of California, Davis
2008
Visiting Scholar, Claremont Mckenna College
2006-2007
Visiting Professor, Thunderbird School of Management
2004-2008
Professor, University of Calgary
2002-2003
Visiting Professor, UCLA
2000-2005
Professor, University of California, Irvine
1999
Visiting Professor, INSEAD
1998
Visiting Professor, University of Vienna
1995
Visiting Professor, University of Vienna
1991-2000
Associate Professor, University of California, Irvine
1990-1991
Visiting Asst. Professor, University of British Columbia
1987-1988
Visiting Assistant Professor, UCLA
1986-1991
Assistant Professor, University of California, Irvine
1985-1986
Visiting Assistant Professor, Baruch College, CUNY
1983
Ph.D., Department of Engineering - Economic Systems, Stanford University. Thesis title: "Corporate Mergers and Capital Structure"; supervised by David Luenberger, Sudipto Bhattacharya and Shmuel Oren.
1982-1985
Assistant Professor, University of British Columbia
1977
M.S., Department of Engineering - Economic Systems, Stanford University
1976
B.S., Department of Electrical Engineering, University of Southern California

Researcher Identifier

    No researcher identifier found.

Awards and Honors

2012
Best Paper Award der WU for “Intermediated Investment Management” published in the J. Finance in 2011
2005
Social Sciences and Humanities Research Council of Canada Research Grant
1991
Research Grant from UC Irvine committee on research
1989
Research Grant from the International Business Information division of the Peat Marwick Main Foundataion
1987
UC Irvine Faculty Fellowship
1986
Research Grant from the Center for the Study of Futures Markets at Columbia University
1985
UBC International Research Award
1983
Research Grant from the Social Sciences and Humanities Research Council of Canada
1976
Biegler Memorial Award from USC as the outstanding senior in E.E.
Graduate Fellowships: Stanford University, Tau Beta Pi and Phi Kappa Phi
Honorable Mention in Alton Zerby competition for outstanding undergraduate E.E. student in the U.S.

Classifications

Expertise

  • Corporate Finance
  • Endowment Management
  • Investment Management

Activities

Editor of a scientific journal
  1999-2004 International Review of Finance - Editor
Member of the editorial board
  2003-2010 Review of Finance - Associate Editor
  1994-1997 Review of Financial Studies - Associate Editor
  1993-2008 Management Science - Associate Editor
Other position in a scientific journal
  since 2010 Review of Financial Studies - Advisory Board
  since 2010 Review of Finance - Advisory Board, member of the Advisory Board
Organization scientific meeting (Conference etc.)
  2014 Western Finance Association - Associate to the program chair
  2014 Rothschild Caesarea Conference - Member of the program committee
  2014 Financial Intermediation Research Society - Member of the program committee
  2014 European Winter Finance Summit - Member of the program committee
  2013 Western Finance Association - Member of the program committee
  2013 Financial Intermediation Research Society - Member of the program committee
  2013 European Winter Finance Summit - Program Chairman
  2013 European Finance Association - Member of the program committee
  2012 Financial Intermediation Research Society - Member of the program committee
  2012 European Winter Finance Summit - Member of the program committee
  2012 European Finance Association - Member of the program committee
  2012 Endowment Asset Management Conference - Program Chairman and lead organizer
  2012 47th Annual Conference of the Western Finance Association (WFA) - Member of the program committee
  2011 Western Finance Association - Member of the program committee
  2011 Financial Intermediation Research Society, Sydney - Conference Organizer and co-program chairman
  2011 European Finance Association - Member of the program committee
  2010 Western Finance Association, 45th Annual Conference, Victoria - Member of the Program Committee
  2010 European Finance Association, 37th Annual Meeting, Frankfurt - Member of the Program Committee
  2009 Western Finance Association, 44th Annual Conference, San Diego - Member of the Program Committee
  2009 European Finance Association, 36th Annual Meeting, Bergen - Member of the Program Committee
  2008 Western Finance Association, 43rd Annual Conference, Waikola - Member of the Program Committee
  2008 European Finance Association, 35th Annual Meeting, Athens - Track Chair of the program committee
  2007 Western Finance Association, 42nd Annual Conference, Montana - Member of the Program Committee
  2007 European Finance Association, 34th Annual Meeting, Ljubljana - Member of the Program Committee
  2006 Western Finance Association, 41st Annual Conference, Keystone - Member of the Program Committee
  2006 European Finance Association, 33rd Annual Meeting, Zurich - Member of the Program Committee
  2006 Alberta Calgary Finance Conference - Conference Co-Chairman
  2005 Western Finance Association, 40th Annual Conference, Portland - Member of the Program Committee
  2005 European Finance Association, 32nd Annual Meeting, Moscow - Member of the Program Committee
  2005 Alberta Calgary Finance Conference - Conference Co-Chairman
  2004 Western Finance Association, 39th Annual Conference, Vancouver - Member of the Program Committee
  2004 European Finance Association, 31st Annual Meeting, Maastricht - Member of the Program Committee
  2003 European Finance Association, 30th Annual Meeting, Glasgow - Member of the Program Committee
  2003 Western Finance Association, 38th Annual Conference, Los Cabos - Member of the Program Committee
  2002 European Finance Association, 29th Annual Meeting, Berlijn - Member of the Program Committee
  2001 Western Finance Association, 36th Annual Conference, Tucson - Member of the Program Committee
  2001 8th Annual Meeting of the German Finance Association, Vienna - Member of the Program Committee
  2001 European Finance Association, 28th Annual Meeting, Barcelona - Member of the Program Committee
  2000 Western Finance Association, 35th Annual Conference, Sun Valley - Member of the Program Committee
  2000 European Finance Association, 27th Annual Meeting, London - Member of the Program Committee
Position in administration
  since 2010 Wirtschaftsuniversität Wien - Co-Head Institut für Strategische Kapitalmarktforschung
  2008-2010 University of New South Wales - Head of School of Banking and Finance
  2006-2008 Calgary Center for Research in Finance - Director
  1995-1998 University Hills Housing - Member of the Board of Directors
  1993-1994 Grad. School of Management - Member of the Personnel Committee
  1992-1993 UC Irvine - Member of the UC Irvine Budget and Planning Committee
  1992-1994 Grad. School of Management - Member of the Executive Committee
Attendance scientific meeting (Conference etc.)
  2013 Rothschild Caesaria Conference, Herzliya, Israel, May 2013 - Paper presentation
  2013 NBER meeting on Capital Structure, Boston, Mass, April 2013 - Paper presentation
  2013 FMA Asia finance conference, Shanghai, China, April 2013 - Paper presentation
  2013 European Winter Finance Summit, Obertauern, Austria, March 2013 - Paper presentation
  2013 European Winter Finance Conference, Flims, Switzerland,, Jan. 2013 - Paper presentation
  2013 European Finance Association, Cambridge England, Aug. 2013 - Paper presentation
  2013 Cambridge Endowment Management Program, Cambridge England, Sept. 2013 - Paper presentation
  2013 ASU Sonoran Winter Finance Conference, Scottsdale Arizona, Feb. 2013 - Paper presentation
  2012 Vienna Endowment Management Conference - Paper presentation
  2012 Utha Winter Finance Conference
  2012 Opening of Endowment Center Vitznau
  2012 Kapitalmarktgespräch and Finanzsymposium - Speaker
  2012 Financial Research Association
  2012 EWFS 2012 – European Winter Finance Summit - Discussant
  2012 European Winter Finance Conference - Paper presentation
  2012 EFA Meeting 2012 - Paper presentation
  2012 1st Luxembourg Asset Management Summit - Paper presentation
  2012 11. Kölner Finanzmarktkolloquium Asset Management - Paper presentation
  2011 Western Finance Association, Santa Fe - Discussant
  2011 UBC Summer Finance Conference, Vancouver BC - Discussant
  2011 Gutmann Center Symposium 2011 "Liquidity and Asset Management", Vienna - Discussant
  2011 Financial Intermediation Research Society, Sydney - Co-program Chairman
  2011 Finance Down Under Conference, Melbourne - Discussant
  2010 European Finance Association, 37th Annual Meeting, Frankfurt - Discussant
  2009 American Finance Association, San Francisco - Paper presentation
  2008 Financial Intermediation Research Society Conference, Anchorage - Discussant, Session Chair, Paper presentation
  2008 European Finance Association, 35th Annual Meeting, Athens - Discussant, Session Chair
  2007 Western Finance Association, Montana - Discussant, Paper presentation
  2007 Gutmann Center Symposium 2007 "Credit Risk and the Management of Fixed Income Portfolios", Vienna - Discussant
  2007 European Finance Associationn 33rd Annual Meeting, Ljubljana - Discussant, Session Chair, Paper presentation
  2006 Philipps Hager and North UBC Summer Finance Conference, Whistler - Session Chair
  2006 Gutmann Center Symposium 2006 "Real Assets and Portfolio Management", Vienna - Discussant
  2005 Western Finance Association, 40th Annual Conference, Portland - Paper presentation
  2005 Philipps Hager and North UBC Summer Finance Conference, Tofino - Paper presentation
  2004 Western Finance Association, 39th Annual Conference, Vancouver - Discussant, Session Chair
  2004 USC Finance and Accounting Conference, Los Angeles - Discussant
  2004 Philipps Hager and North UBC Summer Finance Conference, Tofino - Discussant
  2004 Gutmann Center Symposium 2004 "Hedge Funds", Vienna - Discussant
  2003 Western Finance Association, 38th Annual Conference, Cabo San Lucas - Discussant
  2003 European Finance Association, 30th Annual Meeting, Glasgow - Paper presentation
  2002 Twelfth Annual Utah Winter Finance Conference, Salt Lake City - Discussant
  2001 American Finance Association, New Orleans - Paper presentation
  2000 Mitsui Life Finance Symposium, University of Michigan - Paper presentation
  2000 European Finance Association, 27th Annual Meeting, London - Paper presentation

Publications

Journal article

2019 Kranner, Stephan, Stoughton, Neal, Zechner, Josef. 2019. Lessons Learned From Student Managed Portfolios. Journal of Investment Management. 17 (1) (Details)
2014 Cejnek, Georg, Franz, Richard, Randl, Otto, Stoughton, Neal. 2014. A Survey of University Endowment Management Research. Journal of Investment Management 12 (3): 90-117. (Details)
2012 Cejnek, Georg, Franz, Richard, Randl, Otto, Stoughton, Neal. 2012. Universitätsendowments Eine Bestandsaufnahme der theoretischen und empirischen Forschung. Journal für Betriebswirtschaft (JfB) 62 (3-4): 225-260. (Details)
2009 Stoughton, Neal, Wong, Kit Pong. 2009. Option Compensation and Industry Competition. Review of Finance 13 147-180. (Details)
2007 Stoughton, Neal, Zechner, Josef. 2007. Optimal Capital Allocation Using RAROC and EVA. Journal of Financial Intermediation 16 S. 312-342. (Details)
2001 Stoughton, Neal, Wong, Kit Pong, Zechner, Josef. 2001. IPOs and Product Quality. Journal of Business 74 S. 375-408. (Details)
1999 Stoughton, Neal, Talmor, Eli. 1999. Managerial Bargaining Power in the Determination of Compensation Contracts and Corporate Investment. International Economic Review 40 69-93. (Details)
1998 Stoughton, Neal, Zechner, Josef. 1998. IPO-Mechanisms, Monitoring and Ownership Structure. Journal of Financial Economics 49 (1): S. 45-77. (Details)
1994 Stoughton, Neal, Talmor, Eli. 1994. A mechanism design approach to transfer pricing by the multinational firm. European Economic Review 38 143-170. (Details)
  Heinkel, Robert, Stoughton, Neal. 1994. The Dynamics of Portfolio Management Contracts. Review of Financial Studies 7 351-387. (Details)
1993 Stoughton, Neal. 1993. Moral Hazard and the Portfolio Management Problem. Journal of Finance 48 2009-2028. (Details)
  Darrough, Masako N., Stoughton, Neal. 1993. Intertemporal Cost Dependence in the Presence of Managerial Impatience. Journal of Economic Behavior and Organization 20 23-47. (Details)
1990 Darrough, Masako N., Stoughton, Neal. 1990. Financial Disclosure Policy in an Entry Game. Journal of Accounting and Economics 12 219-243. (Details)
1989 Darrough, Masako N., Stoughton, Neal. 1989. A Bargaining Approach to Profit­Sharing in Joint Ventures. Journal of Business 62 237-270. (Details)
  Jorion, Philippe, Stoughton, Neal. 1989. An Empirical Investigation of the Early Exercise Premium of Foreign Currency Options. Journal of Futures Markets 9 365-375. (Details)
1988 Stoughton, Neal. 1988. The Information Content of Corporate Merger and Acquisition Offers. Journal of Financial and Quantitative Analysis 23 (2): 175-197. (Details)
1986 Stoughton, Neal. 1986. A Decision Theory Example in Football, A Comment. Decision Sciences. Journal of Innovative Education 17 (3): 424-427. (Details)
  Darrough, Masako N., Stoughton, Neal. 1986. Moral Hazard and Adverse Selection: The Question of Financial Structure. Journal of Finance 41 (2): 501-513. (Details)
1981 Ackerman, G., Chan, Man-Loong, Marsh, E. N., Stoughton, Neal, Yoon, J.. 1981. Simulation-Based Load Synthesis Methodology for Evaluating Load-Management Programs. IFEEE Transactions on Power Apparatus and Systems 100 (4): 1771-1778. (Details)
1980 Chen, R., Lee, S. T. , Stoughton, Neal. 1980. Direct Construction of Optimal Generation Mix. IFEEE Transactions on Power Apparatus and Systems 99 (2): 753-759. (Details)

Chapter in edited volume

1989 Jorion, Philippe, Stoughton, Neal. 1989. The Valuation of the Early Exercise Premium in the Foreign Currency Options Market. In: Recent Developments in International Banking and Finance Vol. III, Hrsg. Probus Publishing, 159-190. University of California, Riverside. Graduate School of Management: Blackwell. (Details)
1988 Darrough, Masako N., Stoughton, Neal. 1988. Managerial Compensation: Linear Sharing vs. Bonus Incentive Plans Under Moral Hazard and Adverse Selection. In: Economic Analysis of Information and Contracts, Hrsg. Amershi, Amin H., Ziemba, William T., Feltham, Gerald A., 319-347. ?: Springer. (Details)

Paper presented at an academic conference or symposium

2015 Cejnek, Georg, Franz, Richard, Randl, Otto, Stoughton, Neal. 2015. A Survey of University Endowment Management Research. 77th Annual Meeting of the German Academic Association for Business Research (VHB), Wien, Österreich, 27.05.-29.05.. (Details)
  Cejnek, Georg, Franz, Richard, Stoughton, Neal. 2015. An Integrated Model of University Endowments. 42nd Annual Meeting of the European Finance Association (EFA), Wien, Österreich, 19.08-22.08. (Details)
2014 Cejnek, Georg, Franz, Richard, Stoughton, Neal. 2014. An Integrated Model of University Endowments. FMA Europe, Maastricht, Niederlande, 11.06 - 13.06. (Details)
2013 Cejnek, Georg, Franz, Richard, Stoughton, Neal. 2013. An Integrated Model of University Endowments. Austrian Working Group on Banking and Finance (AWG), Wien, Österreich, 22.11-23.11. (Details)
2009 Stoughton, Neal, Wu, Youchang, Zechner, Josef. 2009. Intermediated Investment Management. American Finance Association 2009 Annual Meeting, San Francisco, Vereinigte Staaten/USA, 03.01.-05.01.. (Details)
2008 Stoughton, Neal, Wu, Youchang , Zechner, Josef. 2008. Intermediated Investment Management. Financial Intermediation Research Society Conference, Anchorage, Alaska, Vereinigte Staaten/USA, 05.06.-08.06.. (Details)
2007 Stoughton, Neal, Wu, Youchang, Zechner, Josef. 2007. Intermediated Investment Management. European Finance Association, Ljubljana, Slowenien, 22.08.-25.08.. (Details)
  Stoughton, Neal, Wu, Youchang, Zechner, Josef. 2007. Intermediated Investment Management. Western Finance Association, 42nd Annual Conference, Montana, Vereinigte Staaten/USA, 25.06.-28.06.. (Details)
2005 Stoughton, Neal, Zechner, Josef. 2005. Optimal capital allocation in banking. Philipps Hager and North UBC Summer Finance Conference, Tofino, Kanada, 01.08.-02.08.. (Details)
  Stoughton, Neal, Zechner, Josef. 2005. Optimal Capital Allocation in Banking. Western Finance Association, 40th Annual Conference, Portland, Vereinigte Staaten/USA, 18.06.-21.06.. (Details)

Working/discussion paper, preprint

2017 Reindl, Johann, Stoughton, Neal, Zechner, Josef. 2017. Market Implied Costs of Bankruptcy. (Details)
2013 Cejnek, Georg, Franz, Richard, Stoughton, Neal. 2013. An Integrated Model of University Endowments (Details)
  Cejnek, Georg, Franz, Richard, Randl, Otto, Stoughton, Neal. 2013. A Survey of University Endowment Management Research. WU Working Paper. (Details)
2011 Chen, Joseph, Hughson, Eric, Stoughton, Neal. 2011. Strategic Mutual Fund Tournaments. (Details)
2003 Stoughton, Neal. 2003. Enron Corporation and Using EVA to Consolidate Special Purpose Entities. (Details)
2000 Stoughton, Neal, Zechner, Josef. 2000. The Dynamics of Capital Allocation. (Details)
1997 Heinkel, Robert, Stoughton, Neal. 1997. A New Method of Portfolio Performance Measurement. (Details)

Unpublished lecture

2017 Reindl, Johann, Stoughton, Neal, Zechner, Josef. 2017. Market Implied Costos of Bankruptcy. Research Seminar, University of Mannheim, 24.04. (Details)
  Reindl, Johann, Stoughton, Neal, Zechner, Josef. 2017. Market Implied Costs of Bankruptcy. Research Seminar, University of Piraeus, 06.04. (Details)
  Reindl, Johann, Stoughton, Neal, Zechner, Josef. 2017. Market Implied Costos of Bankruptcy. Research Seminar, The Wharton School, The University of Pennsylvania, 30.03. (Details)

Projects

2014
PhD Programm: Vienna Graduate School of Finance (2014-2018) (Details)
2011
PhD Programm: Vienna Graduate School of Finance (2011-2014) (Details)