Marc L. Lipson

About

Marc L. Lipson is the Robert F. Vandell Professor of Business Administration at the UVA Darden School of Business. He holds a Ph.D. in finance from the University of Michigan and earned a B.A. in anthropology and an M.S. in accounting from the University of Virginia. Before joining Darden, he worked as an accountant for Peat Marwick in Boston and served as an associate professor of finance at the University of Georgia. His principal research area is market microstructure, focusing on how market design and organization influence price formation and liquidity. Lipson's work has been widely published in leading journals such as the Review of Financial Studies, the Journal of Finance, and the Journal of Financial Economics. He has also served as a visiting scholar at the New York Stock Exchange and was a member of the NASDAQ Economic Advisory Board. From 2012 to 2017, he was co-editor-in-chief of Financial Management and currently serves as an associate editor for the Journal of Financial Markets and the Journal of Corporate Finance.

Research topics

• Finance
• Business
• Economics
• Monetary economics
• Microeconomics
• Econometrics
• Financial economics

Selected publications

• A Real Cost of Free Trades: Retail Option Trading Increases the Volatility of Underlying Securities

  SSRN Electronic Journal · 2023 · 11 citations

  1st authorCorresponding
  PublisherDOI

• Short-Sale Constraints and Corporate Investment

  Journal of Financial and Quantitative Analysis · 2022 · 10 citations

  Abstract In a sample of non-U.S. regulatory regime shifts, we find that expanded short selling is associated with stock price declines, reductions in capital expenditure, and lower asset growth. In a reversal of results found for U.S. stocks in a study of Regulation SHO by Grullon, Michenaud, and Weston (2015), our results are stronger for large firms than for small firms. We also show that this investment effect is stronger for firms that previously relied on outside financing. Our results sugg…

  PublisherOA PDFDOI

• Mutual fund performance and manager assets: The negative effect of outside holdings

  Financial Management · 2024 · 7 citations

  Senior authorCorresponding

  Abstract We explore the relation between fund performance and the assets managed by the fund's managers that are outside the fund. Controlling for fund size, we find a negative relation between performance and the size of fund managers’ outside holdings, the number of other funds managed by a fund's managers, and the number of distinct fund categories managed by a fund's managers. This effect is driven by holdings that do not overlap with those held within the fund, and the effect's economic mag…

  PublisherOA PDFDOI

• Financial Analytics Toolkit: Financial Statement Forecasting

  SSRN Electronic Journal · 2020-01-01 · 1 citations

  articleOpen access1st authorCorresponding
  PublisherDOI

• Financial Analytics Toolkit: Ratio Analysis

  SSRN Electronic Journal · 2019-01-01 · 1 citations

  articleOpen access1st authorCorresponding
  PublisherDOI

Frequent coauthors

• Charles M. Jones

  15 shared

• Seymour Lipschutz

  15 shared

• Sandra Mortal

  University of Alabama

  12 shared

• Shane A. Corwin

  University of Mendoza

  10 shared

• Javier Gil‐Bazo

  5 shared

• Andy Puckett

  University of Tennessee at Knoxville

  4 shared

• Richard B. Evans

  University of Virginia

  4 shared

• Natasha Burns

  Bournemouth University

  3 shared

Labs

• Darden School of Business Finance LabPI

Education

• Ph.D., finance

  University of Michigan

• B.A., Anthropology

  University of Virginia

• M.S., Accounting

  University of Virginia

Similar researchers at University of Virginia

• Pedro Matosh-53
• Michael J. Hoh-37