Ahmed S. Baig, Ph.D.

Areas of Interest

Asset Pricing, Market Microstructure, Money Markets

Google Scholar

Publications:

[35] “Price Clustering and the Informational Efficiency of Stock Prices ” with Benjamin M. Blau, Todd Griffith and Nasim Sabah, 2025, Journal of Financial Research, Forthcoming.

[34] “The Effects of Country Governance Quality on the Stability of Equity Markets” with David Y. Aharon and R. Jared Delisle, 2025, International Review of Finance, 25 (3), e70033. 

[33] “Supply Chain Risk Disclosures in 10-K Filings: Implications for Inventory Slack and Stock Returns in Unstable Demand Markets” with James R. Kroes, Andrew S. Manikas, and Anna Land, 2025, International Journal of Production Research, Forthcoming. 

[32] “Political Protection: The Case of Large-Scale Oil Spills and the Stock Prices of Energy Firms” with Benjamin M. Blau, Todd G. Griffith, and Ryan Whitby, 2025, International Review of Finance, 25 (1), e12446. 

[31] “Bank-Level Political Risk and the CD Rates Charged by Money Market Funds” with Pritam Saha and Kyle D. Allen, 2025, Journal of Financial Services Research, 67, 139-155. 

[30] “Assessing the Firm-Level Financial Consequences of Clustering ” with Moeen N. Butt, 2024, Journal of Business Research, 178, 114653. 

[29] “Greenhouse Gas Emissions and the Stability of Equity Markets” with David Y. Aharon, Gady Jacoby and Zhenyu Wu, 2024, Journal of International Financial Markets Institutions and Money, 92, 101952.

[28] “The Response of Money Market Fund Investors and Managers to Government Shutdowns” with Kyle D. Allen and Drew B. Winters, 2023, Journal of Economics and Finance, 48 (1), 214-237.

[27] “Money Market Funds and N-CR Regulations ” with Kyle D. Allen and Drew B. Winters, 2023, Review of Pacific Basin Financial Markets and Policies, 27 (1), 1-16.

[26] “Dynamics of Price Clustering in the Pakistan Stock Exchange” with M. Imran Chaudhry, and R. Jared Delisle, 2023, Managerial Finance, 50 (3), 590-613.

[25] “The Role of Education in Capital Markets’ Liquidity” with David Y. Aharon and Hassan A. Butt, 2023, Journal of International Financial Markets Institutions and Money, 86, 101805.  

[24] “Tobin’s Q Approximation as a Metric of Firm Performance: An Empirical Evaluation” with Moeen N. Butt and Fazal J. Seyyed, 2023, Journal of Strategic Marketing, 31(3), 532-548. 

[23] “The Response of Money Market Funds to the COVID-19 Pandemic” with Kyle D. Allen and Drew B. Winters, 2023, Finance Research Letters, 54, 103790.  

[22] “COVID-19 Intensity Across U.S. States and the Liquidity of U.S. Equity Markets ” with Jason Berkowitz, R. Jared Delisle, and Todd G. Griffith, 2023, The Financial Review, 58(2), 235-259.

[21] “Do Retail Traders Destabilize Financial Markets? An Investigation Surrounding the COVID-19 Pandemic” with Benjamin M. Blau, Hassan A. Butt and Awaid Yasin, 2023, Journal of Banking and Finance, 147, 106744.

[20] “Settling Down: T+2 Settlement Cycle and Liquidity” with Stephen Breeze, Justin Cox, and Todd Griffith, 2022, European Financial Management, 28 (5), 1260-1282

[19] “Index Mutual Fund Ownership and Financial Reporting Quality” with R. Jared Delisle and Gulnara Zaynutdinova, 2022, Research in International Business and Finance, 62, 101755.

[18] “The Impact of Robinhood Investors on the Volatility of Cross-Listed Securities” with David Y. Aharon and R. Jared Delisle, 2022, Research in International Business and Finance, 60, 101619. 

[17] “The Search for a New Reference Rate” with Drew B. Winters, 2022, Review of Quantitative Finance & Accounting, 58, 939-976. 

[16] “Does mutual fund ownership reduce stock price clustering? Evidence from active and index funds” with Benjamin M. Blau and R. Jared Delisle, 2022, Review of Quantitative Finance & Accounting, 58, 615-647.

[15] “Estimating Value-at-Risk Models for Non-Conventional Equity Market Index” with Hassan A. Butt and Rizwan Khalid, 2022, Review of Financial Economics, 40, 63-76. 

[14] “Did the COVID-19 Pandemic (Really) Positively Impact the IPO Market? An Analysis of Information Uncertainty” with Mengxi Chen, 2022, Finance Research Letters, 46(B), 102372. 

[13] “The Impact of Government Interventions on Cross-Listed Securities: Evidence from the COVID-19 Pandemic” with David Y. Aharon and R. Jared Delisle, 2022, Finance Research Letters, 46(A), 102276. 

[12] “Does Innovation Explain the Skewness of Stock Returns” with Hassan Butt, Abrar Fitwi, and Joey Smith, 2021, American Business Review, 24 (2), 12-31. 

[11] “Firm Opacity and the Clustering of Stock Prices: The Case of Financial Intermediaries” with Benjamin M. Blau and Todd Griffith, 2021, Journal of Financial Services Research, 60, 187-206. 

[10] “Month-End Regularities in the Overnight Bank Funding Markets” with Drew B. Winters, 2021, Journal of Risk and Financial Management, 14(5), 204. 

[9] “Free Trade and Efficiency of Financial Markets” with Benjamin M. Blau and Nasim Sabah, 2021, Global Finance Journal, 48, 100545. 

[8] “Deaths, Panic, Lockdowns and US Equity Markets: The Case of COVID-19 Pandemic” with Hassan A. Butt, O. Haroon, and A. Rizvi, 2021, Finance Research Letters, 38, 101701.

[7] “Does Short Selling Affect the Clustering of Stock Prices?” with Nasim Sabah, 2020, Quarterly Review of Economics and Finance, 76, 270-277. 

[6] “Accounting Information Quality and the Clustering of Stock Prices” with Benjamin M. Blau and Jie Hao, 2020, American Business Review, 23(2), 182-210, 1. (Lead Article) 

[5] “Price Clustering after the Introduction of Bitcoin Futures” with Omair Haroon and Nasim Sabah, 2020, Applied Finance Letters, 9, 36-42. 

[4] “Price Clustering and Economic Freedom: The Case of Cross Listed Securities” with Benjamin M. Blau and Ryan J. Whitby, 2019, Journal of Multinational Financial Management, 50, 1-12. (Lead Article) 

[3] “Price Clustering and Sentiment in Bitcoin” with Benjamin M. Blau and Nasim Sabah, 2019, Finance Research Letters, 29,111-116. 

[2] “Have Stock Prices Become More Uniformly Distributed?”  with Drew B. Winters and Nasim Sabah, 2019, Economics Bulletin, 39, 1242-1250. 

[1] “A Preferred Habitat for Liquidity in Term Repos: Before, During and After the Financial Crisis”, with Drew B. Winters, 2018, Journal of Economics and Business, 99, 1-14. (Lead Article)