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Steven Freund

Steven Freund Photo
Steven FreundAssistant Professor

Research Interests

Equity options, security markets and corporate finance

Professor Freund's research interests are in the areas of option pricing, market microstructure and corporate finance. He has published articles in Financial Management, the Journal of Banking and Finance, The Journal of Derivatives, The Quarterly Review of Economics and Finance and The Journal of Financial Research.

Education

  • Ph D: Finance, (1989), Leonard N. Stern School of Business, New York University - New York, NY
    Dissertation/Thesis Title: Option Pricing in Imperfect Markets
  • MBA, (1980), University of Connecticut - Storrs, CT
  • BS: Management Engineering, (1972), Rensselaer Polytechnic Institute - Troy, NY

Publications

  • Freund, S., Lowell, U., Hall, P., Webb, G.P. () "Fundamental versus Technical Analysis: Classroom Exercises Designed to Illuminate the Differences,"
  • Bhuyan, R., Freund, S., Yan, Y. () "Option Volume Contains Information: Empirical Evidence from the US Equity Option Market,"
  • Freund, S., Latif, S., Phan, H.V. () "Executive Compensation and Corporate Financing Policy: Evidence from CEO Inside Debt," Journal of Corporate Finance
  • Oztekin, A., Kizilaslan, R., Freund, S., Iseri, A. (2016) "A Data Analytic Approach to Forecasting Daily Stock Returns in an Emerging Market," European Journal of Operational Research 253:3 pp. 697–710
  • Bouges, J.C., Freund, S. (2014) "The Effect of Voluntary Adviser Registration on Hedge Fund Performance," Oxford Journal: An International Journal of Business & Economics 9:1
  • Freund, S., Prasad, D., Andrews, F. (2013) "Security Selection Factors: Novice Versus Experienced Investors," International Journal of Business & Finance Research (IJBFR) 7:4 pp. 115-126
  • Freund, S., Prasad, D., Andrews, F. (2013) "Security Selection Factors: Novice Versus Experienced Investors," International Journal of Business & Finance Research (IJBFR) 7:4 pp. 115-126
  • Yang, Y., Freund, S. (2011) "CORPORATE VENTURE CAPITAL AND ACQUISITIONS OF ENTREPRENEURIAL FIRMS (INTERACTIVE PAPER)," Frontiers of Entrepreneurship Research 31:2
  • Bhuyan, R., Freund, S., Yan, Y. (2011) "Investment Portfolio Strategies Based On Options Market Activity," Journal of Business & Economics Research (JBER) 7:9
  • Freund, S., Andrews, F.E., Prasad, D. (2011) "Mountain View Mobile Home Park," Journal of Business Case Studies (JBCS) 5:5 pp. 79-92
  • John, K., Freund, S., Nguyen, D., Vasudevan, G.K. (2010) "Investor Protection and Cross-Border Acquisitions of Private and Public Targets," Journal of Corporate Finance 16:3 pp. 259-275
  • Freund, S., Nguyen, D., Vasudevan, G.K. (2008) "Target-country shareholder protection and acquirer returns,"
  • Freund, S., Yan, Y. (2008) "The Construction of Real Estate Indices," Real Estate Review 37:2 pp. 39-52
  • Freund, S., Trahan, E.A., Vasudevan, G.K. (2007) "Effects of Global and Industrial Diversification on Firm Value and Operating Performance," Financial Management (Wiley-Blackwell) 36:4 pp. 143
  • Freund, S., Jain, R., Puri, Y.R. (2007) "The Turn-of-the-Month Effect in Stocks Trading on the National Stock Exchange of India," Journal of Emerging Markets 12:1 pp. 14-22
  • Freund, S., John, K., Vasudevan, G. (2006) "The Information Content of PIPE Offerings," University of Massachusetts and New York University
  • Freund, S., Prezas, A.P., Vasudevan, G.K. (2003) "Operating Performance and Free Cash Flow of Asset Buyers," Financial Management (Wiley-Blackwell) 32:4 pp. 87
  • Chu, S., Freund, S. (1996) "Volatility estimation for stock index options: A GARCH approach," Quarterly Review of Economics and Finance 36: pp. 431-450
  • Figlewski, S., Freund, S. (1994) "The pricing of convexity risk and timedecay in options markets," Journal of Banking and Finance 18: pp. 73-91

Presentations

  • The Value of Regulation during Financial Crisis: Evidence from the Hedge Fund Industry - Cambridge Business & Economics Conference, July 2013 - Cambridge, UK
  • Security Selection Factors: Novice versus Experienced Investors. - Association for Global Business Annual Meeting, November 2011 - Newport Beach, CA
  • The Information Content of PIPE Offerings - University of Massachusetts Lowell Faculty Research Symposium, October 2011
  • Corporate Venture Capital and Acquisition of Entrepreneurial firms - Babson College Entrepreneurship Research Conference, June 2011 - Syracuse, NY
  • Mountain View Mobile Home Park - Academy of Business Education and the Financial Education Association Joint Meeting, September 2009 - Ft. Lauderdale, FL
  • Adoption of Anti-takeover Legislation and Growth - Academy of Accounting, Finance, and Economics, December 2008 - New Orleans, LA
  • Exercises for the Systematic Creation of Option Profit Diagrams - Academy of Accounting, Finance, and Economics, December 2008 - New Orleans, LA
  • Target-Country Shareholder Protection and Acquisition Returns - Financial Management Association, October 2008 - Dallas, TX

Contracts, Fellowships, Grants and Sponsored Research

  • A Financial Trading Room in the Classroom (2009), Grant - University of Massachusetts Lowell Council on Teaching and Learning
    Freund, S.
  • Three Studies in Security Markets Research (2009), Grant - University of Massachusetts Lowell Healey Research and Scholarship Grant
    Freund, S.