Ivy Profile

Academic History

• Ph.D., Finance, University of Iowa, 2001

• MS, Economics, Iowa State University, 1995

• BS, Economics, Iowa State University, 1994

Expertise

• Asset Pricing

• Mutual Funds

• Initial Public Offerings

• Private Equity

• Reverse Mergers

• Seasoned Equity Offerings

• Risk Management

Selected Publications

• Karaca, I., & Sapp, T. R. (2023) "Capacity Overhang and Corporate Disinvestment Decisions", Journal of Financial Research, 46 (3):825-847. Link to Paper

• Lin, Z., Sapp, T., Parsa, R., Rees Ulmer, J., & Cao, C. (2022) "Pricing Cyber Security Insurance", Journal of Mathematical Finance, 12 (1):46-70. Link to Paper

• Lin, Z., Sapp, T. R., Ulmer, J. R., & Parsa, R. (2020) "Insider trading ahead of cyber breach announcements", Journal of Financial Markets, 50:100527. Link to Paper

• Sapp, T. R. (2016) "Efficient Estimation of Distributional Tail Shape and the Extremal Index with Applications to Risk Management", Journal of Mathematical Finance, 6 (4):626-659. Link to Paper

• Floros, I. V., & Sapp, T. R. (2012) "Why Do Firms Issue Private Equity Repeatedly? On the Motives and Information Content of Multiple PIPE Offerings", Journal of Banking and Finance, 36 (12):3469-3481. Link to Paper

• Carter, R. B., Dark, F. H., Floros, I. V., & Sapp, T. R. (2011) "Characterizing the Risk of IPO Long-Run Returns: The Impact of Momentum, Liquidity, Skewness and Investment", Financial Management, 40 (4):1067-1086. Link to Paper

• Floros, I. V., & Sapp, T. R. (2011) "Shell games: On the value of shell companies", Journal of Corporate Finance, 17 (4):850-867. Link to Paper

• Sapp, T. R. (2011) "The 52-Week High, Momentum, and Predicting Mutual Fund Returns.", Review of Quantitative Finance and Accounting, 37:149-179. Link to Paper

• Carter, R. B., Dark, F. H., & Sapp, T. R. (2010) "Underwriter Reputation and IPO Issuer Alignment 1981-2005", Quarterly Review of Economics and Finance, 50:443-455. Link to Paper

• Sapp, T. R. (2009) "Estimating Continuous-Time Stochastic Volatility Models of the Short-Term Interest Rate: A Comparison of the Generalized Method of Moments and the Kalman Filter", Review of Quantitative Finance and Accounting, 33:303-326. Link to Paper

• Sapp, T., & Yan, X. (2008) "Security Concentration and Active Fund Management: Do Focused Funds Offer Superior Performance?", Financial Review, 43:27-49. Link to Paper

• Sapp, T., & Tiwari, A. (2006) "Stock Return Momentum and Investor Fund Choice", 4 (3):73-85.

• Friesen, G. C., & Sapp, T. R. (2007) "Mutual Fund Flows and Investor Returns: An Empirical Examination of Fund Investor Timing Ability", Journal of Banking and Finance, 31:2796-2816. Link to Paper

• Koppenhaver, G. D., & Sapp, T. R. (2005) "Money Funds or Markets? Valuing Intermediary Services", Journal of Financial Services Research, 27:51-76. Link to Paper

• Sapp, T., & Tiwari, A. (2004) "Does Stock Return Momentum Explain the Smart Money Effect?", Journal of Finance, 59 (6):2605-2622. Link to Paper

• Sapp, T. R., & Yan, X. (2003) "The Nasdaq-Amex Merger, Nasdaq Reforms, and the Liquidity of Small Firms", Journal of Financial Research, 26 (2):225-242. Link to Paper