Ferhat Akbas

Assistant Professor
Primary office:
Capitol Federal Hall
Room 4116
University of Kansas

Academic Area



Texas A&M University, Mays Business School, Ph.D. in Finance, 2011

Texas A&M University, M.S. in Economics, 2007

Billkent University, Ankara, Turkey, B.S. in Industrial Engineering, 2003


The Calm Before the Storm, forthcoming, The Journal of Finance.

Smart Money, Dumb Money, and Capital Market Anomalies (with W. Armstrong, S. Sorescu, and A. Subrahmanyam), forthcoming, Journal of Financial Economics.

“Capital Market Efficiency and Arbitrage Efficacy” (with W. Armstrong, S. Sorescu, and A. Subrahmanyam), forthcoming, Journal of Financial and Quantitative Analysis.

Working Papers

Corporate Directors and Informed Traders (with Felix Meschke and Jide Wintoki) (Submitted for second round review at Journal of Accounting and Economics)

The Trend in Firm Profitability and the Cross Section of Stock Returns (with Chao Jiang and Paul Koch) (Revise and Resubmit at The Accounting Review)

Short interest, returns, and fundamentals (with Ekkehart  Boehmer, Bilal Erturk, and Sorin Sorescu) (Revise and Resubmit at Financial Management)

Extreme Daily Fund Returns and Fund Flows (with Egemen Genc) 

Short Selling and Cross-Firm Price Impact (with Ekkehart Boehmer, Egemen Genc) 

The Time-Varying Liquidity Risk of Value and Growth Stocks (with Ekkehart Boehmer, Egemen Genc, and Ralitsa Petkova)

Idiosyncratic Volatility of Liquidity and Expected Stock Returns (with Will J. Armstrong and Ralitsa Petkova)

Work In Progress

Do Investors Fully Understand Overnight Returns? (with Paul Koch and Ekkehart Boehmer)

A Time Series Analysis of Returns to Short Sellers (with Ekkehart Boehmer and Egemen Genc)


2015: American Finance Association (AFA) Meeting, Boston, 2015, DePaul University Finance Conference, SFS Cavalcade (2015), ITAM Finance Conference

2014:  Financial Management Association (FMA) Meeting, Southern Finance Association (SFA) Meeting.

2013: Financial Management Association (FMA) Annual Meeting (Top Session), Southern Finance Association (SFA) Annual Meeting, Financial Modeling and Capital Markets, The Israel Institute for Advanced Studies (IIAS), The Hebrew University of Jerusalem, Jerusalem.

2012:  American Finance Association (AFA) Meeting.

2011: The University of Kansas,  Virginia Tech, 2011, Board of Governors, ,University of Toronto,   Sabanci University, Ozyegin University,  , Central Bank of Turkey , Bank of Canada 

2008: Financial Management Association (FMA) Annual Meeting (Top 10 Session).

Reviewer for the following journals:

Review of Financial Studies, Journal of Financial and Quantitative Analysis,

Journal of Banking and Finance, Financial Management, Journal of Money, Credit and Banking

Research Interests

  • Empirical asset pricing
  • Active portfolio management
  • Liquidity risk
  • Market efficiency
  • Short selling

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