Box: 353226
Stephan Siegel
- Professor of Finance and Business Economics Michael G. Foster Endowed Professor
Education
- PhD Columbia University (2006)
- MPhil Columbia University (2002)
- BSc University of Bayreuth (1995)
Academic Expertise
- asset pricing
- behavioral finance
- business valuation
- household finance
- international finance
Industries
- Consulting
- Financial Services
- Private Equity
Current Research
- Culture, biology, and finance
- Political risk and asset prices
Positions Held
- At the University of Washington since 2005
- Managing Editor, Journal of Financial and Quantitative Analysis (JFQA), since 2022
- CESifo Research Network Fellow, CESifo, since 2018
- GCI Management, Munich, Germany, 1996-1999
Selected Publications
“Personal Communication in an Automated World: Evidence from Loan Repayments“
Laudenbach, C., & Siegel, S., (2025). The Journal of Finance, Vol. 80(1), pp. 515-559.
“The Cross-Section of Volatility and Expected Returns: Then and Now”
Detzel, A., Duarte, J., Kamara, A., Siegel, S., and Sun, C., (2023). Critical Finance Review, Vol 12 (1-4).
“Do Equity Markets Care About Income Inequality? Evidence from Pay Ratio Disclosure“
Pan, Y., Pikulina, E., Siegel, S., and Wang, T., (2022). The Journal of Finance, Vol.77 (2).
“The Cultural Origin of CEOs’ Attitudes toward Uncertainty: Evidence from Corporate Acquisitions“
Pan, Y., Siegel, S., Wang, T., (2020). The Review of Financial Studies, Vol. 33(7), pp. 2977-3030.
“Are CEOs More Likely to Be First-Borns?“
Siegel, S., Custodio, C., (2020). PlosOne.
“Effects of Demonetization: Evidence from 28 Slum Neighborhoods in Mumbai“
Krishnan, D., Siegel, S., (2017). Economic & Political Weekly, Vol. 52(3).
“The Fetal Origins Hypothesis in Finance: Prenatal Environment, the Gender Gap, and Financial Risk Taking“
Cronqvist, H., Previtero, A., Siegel, S., White, R., (2016). Review of Financial Studies, Vol. 29(3), pp. 739-786.
“Corporate Risk Culture“
Pan, Y., Siegel, S. & Wang, T., (2016). Journal of Financial and Quantitative Analysis.
“Value versus Growth Investing: Why Do Different Investors Have Different Styles?“
Cronqvist, H., Siegel, S., Yu, F., (2015). Journal of Financial Economics, Vol. 117(2), pp. 333-349.
“The Origins of Savings Behavior“
Cronqvist, H., & Siegel, S., (2015). Journal of Political Economy, Vol. 123(1), pp. 123-169.
“Genetics, Homeownership, and Home Location Choice“
Cronqvist, H., Muenkel, F., & Siegel, S., (2014). Journal of Real Estate Finance and Economics, Vol. 48(1), pp. 79-111.
“Political Risk Spreads“
Bekaert, G., Harvey, C., Lundblad, C., & Siegel, S., (2014). Journal of International Business Studies, Vol. 45(4), pp. 471-493.
“The Genetics of Investment Biases“
Cronqvist, H., & Siegel, S., (2014). Journal of Financial Economics, Vol. 113(2), pp. 215-234.
“Daily Data is Bad for Beta: Opacity and Frequency-Dependent Betas“
Gilbert, T., Hrdlicka, C., Kalodimos, J., & Siegel, S., (2014). Review of Asset Pricing Studies, Vol. 4(1), pp. 78-117.
“The European Union, the Euro, and Equity Market Integration“
Bekaert, G., Harvey, C., Lundblad, C., & Siegel, S., (2013). Journal of Financial Economics, Vol. 109(3), pp. 583-603.
“Trust and Credit: The Role of Appearance in Peer-to-Peer Lending“
Duarte, J., Siegel, S., & Young, L., (2012). The Review of Financial Studies, Vol. 25(8), pp. 2455-2484.
“What Segments Equity Markets?“
Bekaert, G., Harvey, C., Lundblad, C., & Siegel, S., (2011). The Review of Financial Studies, Vol. 24(12), pp. 3841-3890.
Honors and Awards
- 2025 Hybrid MBA Excellence in Teaching Award (Elective)
- WFA, Wharton-WRDS Award for the Best Empirical Finance Paper, 2023
- Boca-ECGI Corporate Finance and Governance, Best Paper Award, 2023
- William A. & Helen I. Fowler Award for Special Achievement in Finance, Foster School of Business, University of Washington, 2023
- Asian FA Best Paper Award, 2021
- MBA Professor of the Quarter, Foster School of Business, Winter 2019
- Lex N. Gamble Family Award for Excellence in Case Development & Curriculum Innovation, June 2019
- CICF Best Paper Award, Xiamen, 2016
- Andrew V. Smith Award for Excellence in Research, Foster School of Business, University of Washington, June 2015
- Dean's Leadership Award, Foster School of Business, University of Washington, June 2015
- PhD Program Mentoring Award, Foster School of Business, University of Washington, May 2015
- MBA Elective Professor of the Quarter, Spring 2009, 2013
- Undergraduate Faculty of the Year for Finance and Business Economics, 2012-2013
- American Real Estate Society, ARES Manuscript prize Winner, 2012
- Faculty Research Award, Elliott Initiative, University of Michigan-Dearborn, 2011
- Best Paper Award, Rothschild Caesarea Center 7th Annual Academic Conference, Tel Aviv, 2010
- Yihong Xia Best Paper Award, CICF, Beijing, 2010
- Best Paper in Investments, FMA, New York, 2010
- Doctoral fellowship, Columbia University, Graduate School of Business, 1999-2004
- Award for outstanding academic achievement, University of Bayreuth, 1995
- Merit-based scholarship from the Friedrich-Naumann Foundation, Germany, 1993-1995