Keith Jacks Gamble
Assistant Professor of Finance
1 East Jackson Blvd., Suite 5500
Chicago, IL 60604-2287
Tel: 312-362-7685 Fax: 312-362-6566
Research Interests: Financial Decision Making, Behavioral Finance, Aging
Causes and Consequences of Financial Fraud Among Older Americans (with Patricia A. Boyle, Lei Yu, and David Bennett)
We use a unique dataset to examine the causes and consequences of financial fraud among older Americans.
Informed Retail Investors: Evidence from Retail Short Sales (with Wei Xu)
revise and resubmit at the Journal of Empirical Finance.
Our study suggests that the recent evidence of informed retail order flow is driven by few informed retail trades.
Informed Short Selling Around SEO Announcements (with Sanjay Deshmukh and Keith Howe)
Large increases in short selling around SEOs are predictive of worse announcement returns, long run operating performance, and long run returns.
PUBLICATIONS IN FINANCE JOURNALS
Aging and Financial Decision Making (with Patricia Boyle, Lei Yu, and David Bennett)
Management Science, 2015, 61(11), 2603-2610.
This study examines how cognitive changes associated with aging impact the financial decision making capability of older Americans.
Short Selling and Firm Operating Performance (with Sanjay Deshmukh and Keith Howe)
Financial Management, 2015, 44(1), 217-236.
Large increases in short interest are associated with a 21% decline in operating performance in subsequent years.
How Prior Outcomes Affect Individual Investors' Subsequent Risk Taking (with Bjorn Johnson)
Journal of Personal Finance, 2014, 13(1), 8-37. (lead article)
We present empirical evidence of how prior outcomes affect individual investors' subsequent risk taking.
The Information Content of Investors' Expectations for Risk and Return (with Thomas Berry)
Quarterly Journal of Finance, 2013, 3(3 & 4).
This study reveals the information content of individual investors' risk-adjusted return expectations.
Does Presenting Investment Results Asset by Asset Lower Risk Taking? (with Santosh Anagol)
Journal of Behavioral Finance, 2013, 14(4), 276-300.
Segregating investment results by asset decreases subsequent risk taking.
Informed Local Trading Prior to Earnings Announcements (with Thomas Berry)
Journal of Financial Markets, 2013, 16(3), 505-525.
Large trading imbalances by investors living close to a firm’s headquarters predict the stock’s earnings announcement return.
PUBLICATIONS IN SCIENCE JOURNALS
Temporal Discounting is Associated with an Increased Risk of Mortality (with Patricia A. Boyle, Lei Yu, and David Bennett)
PLOS ONE, 2013, 8(6).
A person with the greatest preference for smaller immediate rewards over larger but delayed ones was about twice more likely to die over the study period.
Poor Decision Making is a Consequence of Cognitive Decline (with Patricia A. Boyle, Lei Yu, Robert S. Wilson, Aron S. Buchman, and David Bennett)
PLOS ONE, 2012, 7(8).
Shows that even very subtle age-related changes in cognition have detrimental effects on decision making.
Updated March 2016