{"id":16,"date":"2022-08-30T15:10:06","date_gmt":"2022-08-30T13:10:06","guid":{"rendered":"https:\/\/people.unil.ch\/normanschuerhoff\/?page_id=16"},"modified":"2024-06-11T10:26:11","modified_gmt":"2024-06-11T08:26:11","slug":"main","status":"publish","type":"page","link":"https:\/\/people.unil.ch\/normanschuerhoff\/","title":{"rendered":""},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Working papers<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Livdan, Dmitry, Norman Sch\u00fcrhoff, and Vladimir Sokolov, 2024, The Economic Impact of Payment System Stress: Evidence from Russia, Working Paper<\/li>\n\n\n\n<li>Nikolov, Boris, Norman Sch\u00fcrhoff, and Zepeng Wang, 2024, Beyond Peers: Cross-Industry Competition and Strategic Financing, Working Paper<\/li>\n\n\n\n<li>Nikolov, Boris, Norman Sch\u00fcrhoff, and Sam Wagner, 2024, Recovering the Corporate Objective(s), Working Paper<\/li>\n\n\n\n<li>Hendershott, Terrence, Dmitry Livdan, and Norman Sch\u00fcrhoff, 2024, Is a Gender-Neutral Policy Equitable? Evidence from SEC Enforcement, Working Paper<\/li>\n\n\n\n<li>Baumann, Friedrich, Ali Kakhbod, Dmitry Livdan, Abdolreza Nazemi, and Norman Sch\u00fcrhoff, 2024, <a href=\"https:\/\/ssrn.com\/abstract=4579966\" data-type=\"link\" data-id=\"https:\/\/ssrn.com\/abstract=4579966\">Life after Default: Dealer Intermediation and Recovery in Defaulted Corporate Bonds<\/a>, Swiss Finance Institute Research Paper No. 23-85<\/li>\n\n\n\n<li>Kakhbod, Ali, Seyed Mohammad Kazempour, Dmitry Livdan, and Norman Sch\u00fcrhoff, 2024, <a href=\"https:\/\/ssrn.com\/abstract=4428232\" data-type=\"link\" data-id=\"https:\/\/ssrn.com\/abstract=4428232\">Finfluencers<\/a>, Swiss Finance Institute Research Paper No. 23-30<\/li>\n\n\n\n<li>Hendershott, Terrence, Dan Li, Dmitry Livdan, Norman Sch\u00fcrhoff, and Kumar Venkataraman, 2022,&nbsp;<a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3982686\">Quote Competition in Corporate Bonds<\/a>, Swiss Finance Institute Research Paper No. 22-70<\/li>\n\n\n\n<li>Hendershott, Terrence, Dmitry Livdan and Norman Sch\u00fcrhoff, 2021, <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3895270\">All-to-All Liquidity in Corporate Bonds<\/a>, Swiss Finance Institute Research Paper No. 21-43<\/li>\n\n\n\n<li>Dieler, Tobias, Loriano Mancini, and Norman Sch\u00fcrhoff, 2021, <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3779987\">(In)efficient repo markets<\/a>, Swiss Finance Institute Research Paper No. 21-10<\/li>\n\n\n\n<li>Brancaccio, Giulia, Dan Li, and Norman Sch\u00fcrhoff, 2020, <a href=\"https:\/\/www.giulia-brancaccio.com\/files\/papers\/Learning.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Learning by Trading: the case of the US market for municipal bonds<\/a>, Working Paper<\/li>\n\n\n\n<li>Cestau, Dar\u00edo, Richard C. Green, Burton Hollifield, and Norman Sch\u00fcrhoff, 2020, <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3508342\">Should State Governments Prohibit the Negotiated Sales of Municipal Bonds?<\/a>, Swiss Finance Institute Research Paper<\/li>\n\n\n\n<li>Dimopoulos, Theodosios and Norman Sch\u00fcrhoff, 2019, <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3475419\">Self-inflicted Debt Crises<\/a>, Swiss Finance Institute Research Paper No. 21-11<\/li>\n\n\n\n<li>Sch\u00fcrhoff, Norman and Alexandre Ziegler, 2011, <a rel=\"noreferrer noopener\" href=\"https:\/\/dx.doi.org\/10.5167\/uzh-48748\" target=\"_blank\">Variance risk, financial intermediation, and the cross-section of expected option returns<\/a><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Publications<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Hendershott, Terrence, Dan Li, Dmitry Livdan, and Norman Sch\u00fcrhoff, 2024, <a href=\"https:\/\/authors.elsevier.com\/sd\/article\/S0304-405X(24)00082-5\" data-type=\"link\" data-id=\"https:\/\/authors.elsevier.com\/sd\/article\/S0304-405X(24)00082-5\">When failure is an option: Fragile liquidity in over-the-counter markets<\/a>, <em>Journal of Financial Economics<\/em> 157, 2024<\/li>\n\n\n\n<li>Menkveld, Albert, et al., 2024, <a href=\"https:\/\/doi.org\/10.1111\/jofi.13337\" data-type=\"link\" data-id=\"https:\/\/doi.org\/10.1111\/jofi.13337\">Nonstandard Errors<\/a>, <em>Journal of Finance<\/em> 79(3), 2024, 2339-2390<\/li>\n\n\n\n<li>Rolland, Paul, Luca Viano, Norman Sch\u00fcrhoff, Boris Nikolov, and Volkan Cevher, 2022,&nbsp;<a href=\"https:\/\/arxiv.org\/abs\/2209.10974\">Identifiability and generalizability from multiple experts in Inverse Reinforcement Learning<\/a>, <em>Neural Information Processing Systems (NeurIPS)<\/em>, 2022<\/li>\n\n\n\n<li>Hendershott, Terrence, Dan Li, Dmitry Livdan, and Norman Sch\u00fcrhoff, 2020, <a rel=\"noreferrer noopener\" href=\"https:\/\/faculty.haas.berkeley.edu\/hender\/OTCRelations.pdf\" target=\"_blank\">Relationship Trading in OTC Markets<\/a>, <em>Journal of Finance<\/em> 75(2), 2020, 683-734<\/li>\n\n\n\n<li>Li, Dan and Norman Sch\u00fcrhoff, 2019, <a rel=\"noreferrer noopener\" href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2023201\" target=\"_blank\">Dealer Networks<\/a>, <em>Journal of Finance<\/em> 74(1), 2019, 91\u2013144<\/li>\n\n\n\n<li>Cestau, Dar\u00edo, Burton Hollifield, Dan Li, and Norman Sch\u00fcrhoff, 2019, <a href=\"https:\/\/doi.org\/10.1146\/annurev-financial-110118-123034\">Municipal Bond Markets<\/a>,&nbsp;<em>Annual Review of Financial Economics<\/em>&nbsp;11, 2019, 65\u201384<\/li>\n\n\n\n<li>Morellec, Erwan, Boris Nikolov, and Norman Sch\u00fcrhoff, 2018, <a rel=\"noreferrer noopener\" href=\"https:\/\/ssrn.com\/abstract=2630018\" target=\"_blank\">Agency Conflicts Around the World<\/a>, <em>Review of Financial Studies<\/em> 31(11), 2018, 4232\u20134287<\/li>\n\n\n\n<li>Hendershott, Terrence, Dmitry Livdan, and Norman Sch\u00fcrhoff, 2015, <a rel=\"noreferrer noopener\" href=\"https:\/\/faculty.haas.berkeley.edu\/hender\/HLS_IOF_News.pdf\" target=\"_blank\">Are Institutions Informed About News?<\/a>, <em>Journal of Financial Economics<\/em> 117(2), 2015, 249\u2013287<\/li>\n\n\n\n<li>Chen, Zhihua, Aziz A. Lookman, Norman Sch\u00fcrhoff, and Duane J. Seppi, 2015, <a rel=\"noreferrer noopener\" href=\"https:\/\/raps.oxfordjournals.org\/content\/4\/2\/162\" target=\"_blank\">Rating-Based Investment Practices and Bond Market Segmentation<\/a>, <em>Review of Asset Pricing Studies<\/em> 4(2), 2014, 162\u2013205 (Editor\u2019s Choice; RAPS Best Paper Award 2015)<\/li>\n\n\n\n<li>de Treville, Suzanne, Isik Bicer, Val\u00e9rie Chavez-Demoulin, Verena Hagspiel, Norman Sch\u00fcrhoff, Christophe Tasserit, Stefan Wager, 2014, <a rel=\"noreferrer noopener\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0272696314000461\" target=\"_blank\">Valuing Lead Time<\/a>, <em>Journal of Operations Management<\/em> 32(6), 2014, 337\u2013346<\/li>\n\n\n\n<li>de Treville, Suzanne, Norman Sch\u00fcrhoff, Lenos Trigeorgis, Benjamin Avanzi, 2014, <a rel=\"noreferrer noopener\" href=\"https:\/\/onlinelibrary.wiley.com\/doi\/10.1111\/poms.12223\/abstract\" target=\"_blank\">Optimal Sourcing and Lead-Time Reduction under Evolutionary Demand Risk<\/a>, <em>Production and Operations Management<\/em> 23(12), 2014, 2103\u20132117<\/li>\n\n\n\n<li>Cestau, Dar\u00edo, Richard C. Green, and Norman Sch\u00fcrhoff, 2013, <a rel=\"noreferrer noopener\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0304393213000597\" target=\"_blank\">Tax-subsidized underpricing: The market for Build America Bonds<\/a>, <em>Journal of Monetary Economics<\/em> 60(5), 2013, 593\u2013608<\/li>\n\n\n\n<li>Morellec, Erwan, Boris Nikolov, and Norman Sch\u00fcrhoff, 2012, <a rel=\"noreferrer noopener\" href=\"https:\/\/onlinelibrary.wiley.com\/doi\/10.1111\/j.1540-6261.2012.01735.x\/abstract\" target=\"_blank\">Corporate Governance and Capital Structure Dynamics<\/a>, <em>Journal of Finance<\/em> 67(3), 2012, 803\u2013848<\/li>\n\n\n\n<li>Morellec, Erwan and Norman Sch\u00fcrhoff, 2018, <a rel=\"noreferrer noopener\" href=\"https:\/\/dx.doi.org\/10.1016\/j.jfineco.2010.09.003\" target=\"_blank\">Corporate Investment and Financing under Asymmetric Information<\/a>, <em>Journal of Financial Economics<\/em> 99(2), 2011, 262\u2013288<\/li>\n\n\n\n<li>Green, Richard C., Dan Li, and Norman Sch\u00fcrhoff, 2010, <a rel=\"noreferrer noopener\" href=\"https:\/\/onlinelibrary.wiley.com\/doi\/10.1111\/j.1540-6261.2010.01590.x\/full\" target=\"_blank\">Price Discovery in Illiquid Markets: Do Financial Asset Prices Rise Faster Than They Fall?<\/a>, <em>Journal of Finance<\/em> 65(5), 2010, 1669\u20131702 (Smith Breeden Prize 2010 Distinguished Paper)<\/li>\n\n\n\n<li>Morellec, Erwan and Norman Sch\u00fcrhoff, 2010, <a rel=\"noreferrer noopener\" href=\"https:\/\/rfs.oxfordjournals.org\/content\/23\/1\/101\" target=\"_blank\">Dynamic Investment and Financing under Personal Taxation<\/a>, <em>Review of Financial Studies<\/em> 23(1), 2010, 101\u2013146<\/li>\n\n\n\n<li>Green, Richard C., Burton Hollifield, and Norman Sch\u00fcrhoff, 2007, <a rel=\"noreferrer noopener\" href=\"https:\/\/rfs.oxfordjournals.org\/cgi\/content\/abstract\/20\/2\/275\" target=\"_blank\">Financial Intermediation and the Costs of Trading in an Opaque Market<\/a>, <em>Review of Financial Studies<\/em> 20(2), 2007, 275\u2013314<\/li>\n\n\n\n<li>Green, Richard C., Burton Hollifield, and Norman Sch\u00fcrhoff, 2007, <a rel=\"noreferrer noopener\" href=\"https:\/\/dx.doi.org\/10.1016\/j.jfineco.2006.10.004\" target=\"_blank\">Dealer Intermediation and Price Behavior in the Aftermarket for New Bond Issues<\/a>, <em>Journal of Financial Economics<\/em> 86(3), 2007, 643\u2013682<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Cost of lead-time calculator<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/cdf-oplab.unil.ch\" target=\"_blank\" rel=\"noreferrer noopener\">OpLab | Cost Differential Frontier<\/a> tool by Suzanne de Treville and Norman Sch\u00fcrhoff<\/li>\n\n\n\n<li><a href=\"https:\/\/acetool.commerce.gov\/inventory\" target=\"_blank\" rel=\"noreferrer noopener\">Assess Costs Everywhere<\/a> initiative by the U.S. Department of Commerce<\/li>\n\n\n\n<li><a href=\"https:\/\/www.kmu.admin.ch\/kmu\/de\/home\/aktuell\/news\/2015\/die-realen-kosten-einer-produktionsauslagerung-berechnen.html\" target=\"_blank\" rel=\"noreferrer noopener\">CDF Tool<\/a> on the KMU Portal by the Swiss Department of Commerce (SECO)<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Teaching<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/moodle2.unil.ch\" target=\"_blank\" rel=\"noreferrer noopener\">Moodle2<\/a> (new material)<\/li>\n\n\n\n<li><a href=\"https:\/\/www.hec.unil.ch\/docs\/schuerhoff\/\" target=\"_blank\" rel=\"noreferrer noopener\">Documents HEC<\/a> (old material)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Working papers Publications Cost of lead-time calculator Teaching<\/p>\n","protected":false},"author":1001133,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"class_list":["post-16","page","type-page","status-publish"],"_links":{"self":[{"href":"https:\/\/people.unil.ch\/normanschuerhoff\/wp-json\/wp\/v2\/pages\/16","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/people.unil.ch\/normanschuerhoff\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/people.unil.ch\/normanschuerhoff\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/people.unil.ch\/normanschuerhoff\/wp-json\/wp\/v2\/users\/1001133"}],"replies":[{"embeddable":true,"href":"https:\/\/people.unil.ch\/normanschuerhoff\/wp-json\/wp\/v2\/comments?post=16"}],"version-history":[{"count":6,"href":"https:\/\/people.unil.ch\/normanschuerhoff\/wp-json\/wp\/v2\/pages\/16\/revisions"}],"predecessor-version":[{"id":150,"href":"https:\/\/people.unil.ch\/normanschuerhoff\/wp-json\/wp\/v2\/pages\/16\/revisions\/150"}],"wp:attachment":[{"href":"https:\/\/people.unil.ch\/normanschuerhoff\/wp-json\/wp\/v2\/media?parent=16"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}