Biography
Paul Borochin is an Assistant Professor of Professional Practice in Finance at the Miami Herbert Business School. His research draws on information from the public markets to provide quantitative insights on future equity and option performance, identify expected value effects of corporate events, and predict policy decisions. He studies the effects of institutional ownership and common ownership linkages between firms for different types of institutional owners defined by their investment styles. His research has been covered in posts by the CFA Institute's Enterprising Investor blog, the Harvard Law School Forum on Corporate Governance and Financial Regulation, and Columbia Law School's Blue Sky Blog on Corporations and The Capital Markets.
Professor Borochin teaches graduate courses in portfolio management, derivatives pricing, and financial modeling, and an undergraduate course in investments. He previously taught a graduate seminar in asset pricing theory and financial mathematics, as well as a case-based project valuation course. He advises the UM Student Managed Investment Fund and the Envestnet Institute on Campus.
Professor Borochin earned a Ph.D. in Finance from the Fuqua School at Duke University and a B.S. in Finance and Statistics with minors in Mathematics and Computer Science from the Wharton School at the University of Pennsylvania. He is a CFA charterholder.
Education
| 2011 | Ph.D. Finance University, Fuqua School of Business |
| 2005 | B.S. Finance, Statistics University of Pennsylvania, Wharton School of Business |
| CFA Charterholder |
Professional Experience
| 2019 - | Assistant Professor of Professional Practice, Finance, Miami Herbert Business School |
| 2011 - 2019 | Assistant Professor, Finance, University of Connecticut |
| 2018 - 2018 | Visiting Professor, Finance, University of Toronto, Rotman School |
Honors & Acknowledgements
Financial Management Association Best Paper Award in Options and Derivatives, 2020
Fellow, George Washington University, C-LEAF, Quality Shareholders Initiative, 2020-Present
Semifinalist for Financial Management Association Best Paper Award in Corporate Finance, 2016
AAII Outstanding Paper Award, Eastern Finance Association , 2016
Semifinalist for Financial Management Association Best Paper Award in Corporate Finance, 2014
Asset Pricing, Institutional Ownership, Corporate Events and Policies, Fintech
Publications
Borochin, P., J. Knopf Do Managers Seek Control and Entrenchment? forthcoming (Journal of Corporate Finance. 2021).
Borochin, P., Y. Zhao Risk Neutral Skewness Predicts Price Rebounds and so can Improve Momentum Performance forthcoming (Critical Finance Review. 2020).
Borochin, P., H Chang, Y. Wu The Information Content of the Term Structure of Risk-Neutral Skewness (Journal of Empirical Finance 58. 2020).
Borochin, P. The Information Content of Real Operating Performance Measures from the Airline Industry (Journal of Financial Markets 50. 2020).
Borochin, P., Y. Kopeliovich, K. Shea A General Method for Valuing Complex Capital Structures (Finance Research Letters 35. 2020).
Borochin, P., Y. Zhao Belief Heterogeneity in the Option Markets and The Cross-Section of Stock Returns (Journal of Banking and Finance 107. 2019).
Borochin, P., J. Cicon, J. DeLisle, and M. Price The Effects of Conference Call Tone on Market Perceptions of Value Uncertainty (Journal of Financial Markets 40. 2018).
Borochin, P., C. Ghosh, and D. Huang Target Information Asymmetry and Takeover Strategy: Insights from a New Perspective (European Financial Management 25. 2018).
Borochin, P., and J. Yang The Effects of Institutional Investor Objectives on Firm Valuation and Governance (Journal of Financial Economics 126. 2017).
Borochin, P., and W. Cu Alternative Corporate Governance: Domestic Media Coverage of Mergers and Acquisitions in China (Lead Article, Journal of Banking and Finance 87. 2017).
Borochin, P., J. Glascock, R. Lu-Andrews, and J. Yang Using Option Market Liquidity to Predict REIT Leverage Changes (Journal of Real Estate Finance and Economics 55. ).
Borochin, P., and J. Golec Using Options to Measure the Full Value-Effect of an Event: Application to Obamacare (Journal of Financial Economics 120. 2016).
Borochin, P., and J. Yang Options, Equity Risks, and the Value of Capital Structure Adjustments (Journal of Corporate Finance 42. 2016).
Bird, R., P. Borochin, and J. Knopf The Role of the Chief Legal Officer in Corporate Governance (Lead Article, Journal of Corporate Finance 34. 2015).
Borochin, P. When Does a Merger Create Value? Using Option Prices to Elicit Market Beliefs (Financial Management 43. 2014).
