Roger Loh
Associate Professor of Finance and Associate Dean
Lee Kong Chian School of Business
Singapore Management University
50 Stamford Rd, #04-01
Singapore 178899
Academic Background
Ph.D. in Finance, Fisher College of Business, Ohio State University, 2003-2008
M.Sc. (Mgt), National University of Singapore, 2000-2002
B.B.A. (Finance, 1st Class Honors), National University of Singapore, 1996-2000
Appointments
Associate Dean (Undergraduate Programs), Lee Kong Chian School of Business, Singapore Management University, Jul 2021-present
Associate Professor of Finance (with tenure), Lee Kong Chian School of Business, Singapore Management University, Jul 2016-present
Assistant Professor of Finance, Lee Kong Chian School of Business, Singapore Management University, Jul 2008-Jun 2016
Lecturer of Finance, Singapore Management University, 2002-2003
Research Interests
Empirical Asset Pricing, Security Analysts, Behavioral Finance
Publications
Do large gains make willing sellers? 2022, Journal of Financial and Quantitative Analysis 57, 1486-1528 (with Dong Hong and Mitch Warachka). Presented at ASSA-AREUEA 2015, CICF 2016, and Best paper award at California Corporate Finance Conference, Nov 2014.
Is sell-side research more valuable in bad times? 2018, Journal of Finance 73, 959-1013 (with René Stulz). (Internet Appendix, Slides). Featured in Bloomberg news, and The Economist. Practitioner version in Journal of Investment Management 18 (2020).
Have we solved the idiosyncratic volatility puzzle? 2016, Journal of Financial Economics 121, 167-194 (with Kewei Hou). (Slides). Featured in Alpha Architect, Nov 2015. Top-25 most cited JFE articles published 2016-2019.
Streaks in earnings surprises and the cross-section of stock returns, 2012, Management Science 58, 1305-1321 (with Mitch Warachka). (Slides). Profiled in Citigroup Academic Digest, Apr 2009.
When are analyst recommendation changes influential? 2011, Review of Financial Studies 24, 593-627 (with René Stulz). (Internet Appendix, Slides). Featured in Wall Street Journal, 2009, “Markets often shrug at analysts’ calls”. Profiled in NBER Digest, Sep 2009, and Citigroup Academic Digest, Jun 2009.
Investor inattention and the underreaction to stock recommendations, 2010, Financial Management 39, 1223-1251. Profiled in Citigroup Academic Digest, 2009.
Do accurate earnings forecasts facilitate superior investment recommendations? 2006, Journal of Financial Economics 80, 455-483, (with Mujtaba Mian). Reprinted in CFA Digest 36, Nov 2006, 41-42.
The quality of analysts' earnings forecasts during the Asian crisis: Evidence from Singapore, 2003, Journal of Business Finance and Accounting 30, 749-769 (with Mujtaba Mian).
Working Papers
Physical frictions and digital banking adoption, Revised version Aug 2022, with Hyun-Soo Choi. Presented in 2019 at Toronto FinTech conference, HKU FinTech conference, SYSBS Finance Conference, CICF, CEBRA, CAFM, and Best paper award at 2021 Global AI Finance Research Conference in Korea (Feature Video). Revise and resubmit at Management Science.
FAANG stocks, Oct 2021. Featured in Bloomberg news, and Yahoo Finance.
The information cycle and return seasonality, Jun 2021, with Haoyuan Li. Presented at SFS Cavalcade Asia 2019.
Getting feedback on your research: Evidence from analysts, 2018, with Yuan Zhuang. Presented at CIFFP 2018, KAIST, PBC Tsinghua, Melbourne, and Deakin.