Craig W. Holden
- Professor of Finance
- Boquist-Meyer Faculty Fellow
- PhD, UCLA, 1990
- MBA, UCLA, 1984
- BA, U.C. Davis, 1977
- Indiana University, 1990 - present
- Home Savings of America, 1984-1985
- First Interstate Bank, 1983
- Best Products Co., Inc., 1980-1982
- Hilti, Inc., 1979-1980
- California State Senator James Nielsen, 1977-1979
Awards, Honors & Certifications
- Fama/DFA Prize, Second Prize for Best Paper in Capital Markets/Asset Pricing published in the Journal of Financial Economics in 2009
- Associate Editor, Journal of Financial Markets, 1997 - Present
- Secretary-Treasurer, Society of Financial Studies, 2012 - Present
- Program Committee, Western Finance Association, 1999 - Present
- Program Committee, European Finance Association, 2013 - Present
- Chair of 20 Dissertation Committees
- Member or Chair of 58 Dissertation Committees
- Member, School Faculty Review Committee, 2014 - Present
- Member, Campus Tenure Advisory Committee, 2011-2014
- Chair, Finance Dept. Undergraduate Commitee, 1994-2005, 2010-2012, 2013-2014
- Chair, Finance Dept. Doctoral Committee, 2006-2010
- Chair, Dean's Task Force on Science, Engineering, and Technology, 1995
- Morgan Stanley Equity Market Microstructure Research Grant, 2003
- Two-Year Curriculum Development Grant, NASDAQ Educational Foundation, 2002
- Doctoral Students Association Exceptional Inspiration and Guidance Award, Winner: 1996, Nominee: 2002, 2006
- Doctoral Students Association Distinguished Teaching Award, Nominee: 2004-2006, 2008
- Harry C. Suavain Teaching Award, Nominee: 1996, 1997, 2008
- Teaching Excellence Recognition Award, 2000
- Innovative Teaching Award for Ph.D. Curriculum Innovation, Winner: 1999, Nominee: 1998
- Innovative Teaching Award for Undergraduate Curriculum Innovation, Nominee: 1998, 2001
- Alumni Association Award for Outstanding Research, Winner: 1994, 1995, 1997
- Peterson Faculty Fellowship for Outstanding Research, Winner: 1994, 1995
Market Microstructure, International Finance
- “What Are The Best Liquidity Proxies For Global Research?” with Kingsley Fong and Charles A. Trzcinka
- "Optimal Trading With Limit Orders on a Dynamic Limit Order Book"
- “Performance Shares: Valuation and Empirical Evidence" with Daniel Kim
- Review Article: "The Empirical Analysis of Liquidity" with Stacey Jacobsen and Avanidhar Subrahmanyam
Holden, C. (2014), Excel Modeling in Investments, Fifth Edition, Prentice Hall.
Holden, C. (2014), Excel Modeling in Corporate Finance, Fifth Edition, Prentice Hall.
Craig W. Holden and Stacey Jacobsen, 2014, “Liquidity Measurement Problems in Fast, Competitive Markets: Expensive and Cheap Solutions,” Journal of Finance 69, 1747-1785.Read Abstract ››
Bhattacharya, Utpal, Craig W. Holden, and Stacey Jacobsen, 2012, “Penny Wise, Dollar Foolish: Buy-Sell Imbalances On and Around Round Numbers,” Management Science 15, 413-431. Read Abstract ››
- Holden, Craig W. (2011), Excel Modeling in Corporate Finance (Fourth Edition), Pearson/Prentice Hall.
Holden, Craig W. (2011), Excel Modeling in Investments (Fourth Edition), Pearson/Prentice Hall.
Goyenko, Ruslan, Craig W. Holden, and Charles A. Trzcinka (2009), “Do Liquidity Measures Measure Liquidity?,” Journal of Financial Economics, Vol. 92, No. 2, May, pp. 153-181. Read Abstract ››
Holden, Craig W. and Leonard L. Lundstrum (2009), “Costly Trading, Managerial Myopia, and Long-Term Investment,” Journal of Empirical Finance, Vol. 16, pp. 126-135. Read Abstract ››
Holden, Craig W. (2009), “New Low-Frequency Spread Measures,” Journal of Financial Markets, Vol. 12, pp. 778-813. Read Abstract ››
Holden, Craig W. and Pamela S. Stuerke (2008), “The Frequency of Financial Analysts’ Forecast Revisions: Theory and Evidence about Determinants of Demand for Predisclosure Information,” Journal of Business Finance and Accounting, Vol. 35, pp. 860-888. Read Abstract ››
Craig W. Holden (2008), Excel Modeling and Estimation in Corporate Finance (Third Edition), Pearson/Prentice Hall.
Craig W. Holden (2008), Excel Modeling and Estimation in Investments (Third Edition), Pearson/Prentice Hall.
Ellul, Andrew, Craig W. Holden, Pankaj Jain, and Robert Jennings (2007), “Order Dynamics: Recent Evidence from the NYSE,” Journal of Empirical Finance, Vol. 14, pp. 636-661. Read Abstract ››
Holden, Craig W. and Avanidhar Subrahmanyam (2002), "News Events, Information Acquisition, and Serial Correlation," Journal of Business, Vol. 1, pp. 1-32. Read Abstract ››
Battalio, Robert and Craig W. Holden (2001), “A Simple Model of Payment For Order Flow, Internalization, and Total Trading Costs,” Journal of Financial Markets, Vol. 4, pp. 33-71. Read Abstract ››
Bagnoli, Mark, S. Viswanathan, and Craig W. Holden (2001), “On The Existence of Linear Equilibria in Models of Market Making,” Mathematical Finance, Vol. 11, pp. 1-31. Read Abstract ››
Holden, Craig W. and Avanidhar Subrahmanyam (1996), “Risk Aversion, Liquidity, and Endogenous Short Horizons,” The Review of Financial Studies, Vol. 9, pp. 691-722. Read Abstract ››
Chakravarty, Sugato and Craig W. Holden (1995), “An Integrated Model Of Market And Limit Orders,” Journal of Financial Intermediation, Vol. 4, pp. 213-241. Read Abstract ››
- Holden, Craig W. (1995), “Index Arbitrage As Cross-Sectional Market Making,” The Journal of Futures Markets, Vol. 15, pp. 423-455.
Holden, Craig W. and Avanidhar Subrahmanyam (1994), “Risk Aversion, Imperfect Competition, and Long-Lived Private Information,” Economics Letters, Vol. 44, pp. 181-190. Read Abstract ››
Holden, Craig W. and Avanidhar Subrahmanyam (1992), “Long-Lived Private Information and Imperfect Competition,” The Journal of Finance, Vol. 47, pp. 247-270. Read Abstract ››