DAVID A. RAKOWSKI

[David Rakowski]

Associate Professor, Finance and Real Estate

Last Updated: January 6, 2021

about me

Research Interests

Research methodology, Portfolio management of investor flows, Geography of liquidity, International fund flows

Research Keywords

mutual funds; liquidity; fund flows; geography of finance; international flows

Teaching Interests

Financial Markets, Research Methodology, Healthcare Finance, Investments

Biography

Dr. David Rakowski is an Associate Professor of Finance in the College of Business at the University of Texas at Arlington (UTA). He received his Ph.D. degree in Finance from Georgia State University, in 2003 and joined UTA in 2013. Rakowski’s research focuses on Research Methodology, Portfolio Management, Geography of Finance, and Market Liquidity. His work has appeared in the Journal of Financial Markets, Journal of Financial and Quantitative Analysis, Financial Management, Journal of Banking and Finance, Journal of Management and Governance, Journal of Asset Management, Journal of Applied Finance.

At UTA, Rakowski primarily teaches Financial Institutions and Markets at the undergraduate and Healthcare Financial Management at the graduate levels.

Education

- 2003 PhD in Finance
  Georgia State University, 2003
- 1996 BBA in Business Administration
  Stetson University, DeLand, Florida, 1996

Memberships

- Feb 2015 to Present Southern Finance Association
- Jan 2014 to Present European Finance Association
- Jan 2009 to Present American Finance Association
- Jan 2002 to Present Financial Management Association International

Awards and Honors

- Jun 2020 Fellow of the Eunice and James L. West Chair sponsored by UTA CoB
- May 2020 PhD Mentor Award sponsored by UTA College of Business
- Apr 2020 Faculty Development Leave sponsored by UTA
- Apr 2020 Member sponsored by Beta Gamma Sigma
- Dec 2011 Outstanding Researcher sponsored by SIUC College of Business

News Articles

- Jan 2020 Wallethub.com
  Interviewed and quoted on "Ask the Experts" web page.
- Apr 2019 The Shorthorn
  Interviewed and quoted in article by Angelica Perez.

Support & Funding

This data is entered manually by the author of the profile and may duplicate data in the Sponsored Projects section.

- Aug 2018 to Aug 2019 Risk factors and/or cost of capital for airport-related bond issuers sponsored by Airport Cooperative Research Program (ACRP) - $12000
  David Rakowski (Funded)

Publications

2020

Journal Article
Currency risk exposure and the presidential effect in stock returns
[Ashour, Samar, Rakowski, David, Sarkar, Salil]. Journal of Economics and Finance. Arlington. DOI: http://dx.doi.org/DOI: 10.1007/s12197-020-09528-2
https://rdcu.be/b71Gk

Journal Article
Twitter activity, investor attention, and the diffusion of information
[Rakowski, David, Stark, Jeff, Shirley, Sara]. Financial Management. "Wiley". DOI: http://dx.doi.org/https://doi.org/10.1111/fima.12307
https://doi.org/10.1111/fima.12307

Journal Article
What Drives the Market for Exchange-Traded Notes?
[RAKOWSKI, DAVID, Shirley, Sara]. Journal of Banking and Finance. 111, "Elsevier". DOI: http://dx.doi.org/doi.org/10.1016/j.jbankfin.2019.105702
https://authors.elsevier.com/a/1aAjR1M2rGDvDk

In Process

Journal Article
Stock repurchases and the components of equity compensation: The impact of SFAS 123R
[Quillan, Bonnie, Rakowski, David, Sarkar, SalilK]. Quarterly Journal of Finance and Accounting. Accepted.

2019

Journal Article
The US Presidential Cycle and the Foreign Exchange Market
[Sarkar, SalilK, Rakowski, David, Ashour, Samar]. Review of Financial Economics. 37, 523-540.

Journal Article
The Endogeneity of Trading Volume and Bond and Stock Returns: An Instrumental Variable Approach
[Rakowski, David, Yamani, Eahab]. Financial Review, The. 54(2), 303-344. DOI: http://dx.doi.org/ https://doi.org/10.1111/fire.12182

2018

Journal Article
Mutual fund research: A perspective on how we’ve arrived at the current state of academic research on mutual funds
[Diltz, JohnD, Rakowski, David]. Managerial Finance. 44(3), 294-302. DOI: http://dx.doi.org/https://doi.org/10.1108/MF-12-2017-0519

Journal Article
Cash Flow and Discount Rate Risk in the Investment Effect: A Downside Risk Approach
[Yamani, Ehab, Rakowski, David]. Quarterly Journal of Finance.

2017

Journal Article
Tail-Risk Hedging, Dividend Chasing, and Investment Constraints: The Use of Exchange-Traded Notes by Mutual Funds
[Rakowski, David, Shirley, SaraE, Stark, Jeffrey]. Journal of Empirical Finance.

2016

Journal Article
Geography and Local (Dis)advantage: Evidence from Muni Bond Funds
[Rakowski, DavidA, Deng, Saiying]. Quarterly Journal of Finance. 6(3), 1-24. Arlington. DOI: http://dx.doi.org/http://dx.doi.org/10.1142/S2010139216500087
COB, UTA

2015

Journal Article
Time-Varying Flow-Performance Sensitivity and Investor Sophistication
[Rakowski, David]. Journal of Asset Management. 15(5), 333-345. DOI: http://dx.doi.org/10.1057/jam.2014.32

Journal Article
A Note on the Sources of Portfolio Returns: Underlying Stock Returns and the Excess Growth Rate
[Rakowski, David]. Critical Finance Review. 4(1), 117-138. "NOW". DOI: http://dx.doi.org/10.2139/ssrn.1802591
https://pdfs.semanticscholar.org/5ba6/eabb977f40afcd69cac5abf5bba7837a34a6.pdf

Journal Article
Emerging Market Demand and the Changing Dynamics of the Price of Gold
[Rakowski, David, Zhang, Yiling]. International Journal of Economics and Finance. 7(7), DOI: http://dx.doi.org/10.5539/ijef.v7n7p56

2013

Journal Article
Mutual Fund Liquidity and Fiduciary Conflicts of Interest
[Rakowski, David]. Journal of Applied Finance. DOI: http://dx.doi.org/10.2139/ssrn.2155921

2012

Journal Article
Financing a Loss
[Rakowski, David, Elsaid, Eahab]. Accounting and Finance Research. 1(1), DOI: http://dx.doi.org/10.5430/afr.v1n1p53

2011

Journal Article
Capacity and Factor Timing Effects in Active Portfolio Management
[Rakowski, David, Ciccotello, Conrad, Greene, Jason, Ling, Leng]. Journal of Financial Markets. 14(2), 277-300. DOI: http://dx.doi.org/10.1016/j.finmar.2010.10.002

2010

Journal Article
Fund Flow Volatility and Performance
[Rakowski, David]. Journal of Financial and Quantitative Analysis. 45, 223-237. DOI: http://dx.doi.org/10.1017/S0022109009990500

Presentations

- September 2020
  Rakowski, David (Author & Presenter), Yamani, Ehab (Author), "Revisiting the relationship between mutual fund flow and performance", SGH Warsaw School of Economics, Warsaw, Poland (online). (September 18, 2020).
- July 2019
  RAKOWSKI, DAVID (Author & Presenter), Diltz, JohnD, Nguyen, Anh, "The impact of mutual fund flows on stock returns: A new approach using foreign stock listings", FMA, Ho Chi Minh City, Vietnam. (July 16, 2019).
- June 2019
  Rakowski, David, Diltz, JohnD, Nguyen, Anh, "The impact of mutual fund flows on stock returns: A new approach using foreign stock listings", VICIF, Da Nang, Vietnam. (June 24, 2019).
- June 2018
  RAKOWSKI, DAVID (Author & Presenter), Shirley, Sara (Author), Stark, Jeffrey (Author), "Twitter activity, investor attention, and the diffusion of information", FMA, Kristiansand, Norway. (June 8, 2018).
- February 2018
  RAKOWSKI, DAVID (Author & Presenter), Shirley, Sara (Author), Stark, Jeffrey (Author), "Twitter activity, investor attention, and the diffusion of information", MFA Annual Meetings, San Antonio, TX. (February 1, 2018).
- October 2017
  Rakowski, David, Shirley, Sara, Stark, Jeff, "Is all that Twitters Gold? Social Media Attention and Stock Returns", UCLA. (October 19, 2017).
- October 2017
  Rakowski, David, Shirley, Sara, Stark, Jeff, "Is all that Twitters Gold? Social Media Attention and Stock Returns, with S. Shirley and J. Stark", UTA, UTA. (October 4, 2017).
- June 2017
  Rakowski, David, Shirley, Sara, Stark, Jeff, "Institutional Investor Preferences: Evidence from Exchange-traded Notes", EFMA, Athens, Greece. (June 30, 2017).
- April 2017
  Rakowski, David, Shirley, Sara, Stark, Jeff, "Institutional Investor Preferences: Evidence from Exchange-traded Notes", EFA, Jacksonville, FL. (April 7, 2017).
- January 2016
  RAKOWSKI, DAVID, Shirley, SaraE, "The Uniqueness of Exchange Traded Notes", UTA, Room 609, UTA. (January 20, 2016).
- 2015
  Rakowski, David, "The Uniqueness of Exchange Traded Notes", Venice, Italy. ( , 2015).
- 2014
  Rakowski, David, Greene, Jason , Ciccotello, Conrad, "The Market Response to Mutual Fund Holdings Disclosures7". ( , 2014).
- June 2011
  Rakowski, David, "Geography and Local (Dis)advantage: Evidence from Muni Bond Funds", Erasmus Asset Management Conference, Rotterdam, Netherlands. (June , 2011).
- May 2011
  Rakowski, David, "Geography and Local (Dis)advantage: Evidence from Muni Bond Funds", FMA Europe Conference, Porto, Portugal. (May , 2011).

Students Supervised

- Present
  Dissertation Committee Chair
  Anh Nguyen, Anh T. Nguyen: Proposal passed June 8, 2020 (Finance and Real Estate)
  Three essays on international mutual fund flows
- Present
  Dissertation Committee Chair
  Nima Vafai, Nima Vafai: Proposal passed June 12, 2020 (Finance and Real Estate)
  Three essays on factor models for the cross-section of stock returns
- Dec 2019
  Undergraduate Honors Activities
  Harsh Drolio, (Finance and Real Estate)
  Factor models of investment anomalies
- Aug 2019
  Graduate Supervised Research
  Shivam Arora, Funding Amount: $12,000. Airport Cooperative Research Program Graduate Research Awards Program, Old Dominion University Research Foundation on behalf of the Virginia Space Grant Consortium. (Finance and Real Estate)
  Explaining Airport Bond Returns and Determining the Cost of Debt Capital
- May 2019
  Undergraduate Supervised Research
  Juveria Muhammad, (Finance and Real Estate)
  A Comparison of the US and European Banking Industries
- May 2019
  Dissertation Committee Co-Chair
  Mohammed Alhashim, (Finance and Real Estate)
  Behavioral Explanations of Investors’ Herding in Financial Markets
- May 2018
  Undergraduate Honors Activities
  Wahib Muhammad,
  Volatility Portfolios
- May 2018
  Undergraduate Honors Thesis
  Sanjari Chelawat,
  Modeling Bond Yields and Fixed Income Mutual Fund Returns
- May 2018
  Undergraduate Honors Thesis
  Shivam Arora,
  Identification of Leaders and Followers in US-Listed Indian ADRs and Domestic Listings of Underlying Stocks
- May 2017
  Dissertation Committee Member
  Samar Ashour, I was chair until 2015 when Dr. Hao took over as chair.
- Mar 2016
  Dissertation Committee Member
  Yiling Zhang, I was dissertation committee chair until 2015 when Dr. Diltz took over as chair.

Courses

Service to the University

- Oct 2020 to Present Committee Member
  
  DREI Council
  Also serve on Bylaws subcommittee.
- Sept 2019 to Present Peer Teaching Evaluator
  
  Peer Teaching Evaluator
  Evaluated FINA3315 by Dr. Yibing Du, Fall 2019 Evaluated FINA3315 by Dr. Salil Sarkar, Summer 2019
- Mar 2019 to Present Faculty Mentor
  
  UTA CRTLE Faculty Mentoring Program
- Jan 2019 to Present Committee Member
  
  Undergraduate Program Committee
- Dec 2018 to Present Committee Chair
  
  MSRE Graduate Studies Committee
- Jan 2017 to Present Committee Member
  
  HCAD Graduate Studies Committee
- 2014 to Present
  
  UTA COB, Assurance of Learning Committee
- Aug 2019 to Aug 2019 Peer Teaching Evaluator
  
  Peer Teaching Evaluator
  Evaluated FINA3315 by Salil Sarkar, Summer 2019
- Oct 2018 to May 2019
  
  Canvas Early Adopter
- Aug 2018 to May 2019 Committee Member
  
  Gould Mayfield Professor Recruiting Committee
- Feb 2019 to Mar 2019 Committee Chair
  
  Expectations and Values Committee
  Committee suspended as COB has already adopted policies
- Oct 2018 to Jan 2019 Task Force Member
  
  Trading Room Ad-hoc task force
- 2018 to 2018 Committee Chair
  
  Finance and Real Estate Department Chair Search Committee
- 2017 to 2018 Committee Member
  
  HCAD Director Search Committee
- 2014 to 2018 Committee Member
  
  Department of Finance and Real Estate, MSQF Graduate Studies Committee
- 2013 to 2017 Committee Member
  
  UTA COB Strategic Plan Teaching Load Committee
- 2013 to 2014
  
  Department of Finance and Real Estate, Recruiting Committee
- 2013 to 2014
  
  UTA COB, HCAD Recruiting Committee

Service to the Profession

- Jan 2020 to Present
  Program Committee Member (New York,
  FMA Applied Conference
- Jan 2020 to Present
  Program Committee Member (Dubai,
  FMA Global Conference
  Review papers for conference presentation.
- Jan 2018 to Present
  Committee Member
  FMA Annual Meetings
  Review papers for FMA annual meetings
- Jan 2018 to Present
  Program Committee MemberAsia)
  FMA Asia Conference
  Review papers for conference presentation.
- Jan 2018 to Present
  Program Committee Member (Cambridge, UK)
  FMA Consortium on Asset Management
  Review papers for conference presentation.
- Jan 2018 to Present
  Program Committee MemberEurope)
  FMA European Conference Committee Member
  Review papers for conference presentation.
- Jan 2013 to Present
  Reviewer, Ad Hoc Reviewer
  Journals
  Ad-hoc reviewer for the Journal of Banking and Finance, Review of Finance, Journal of Financial Research, Journal of International Money and Finance, Managerial Finance, Review of Accounting and Finance, Global Finance Journal, Financial Review, Journal of Management and Governance, Corporate Governance: An International Review, The Quarterly Journal of Economics and Finance, African Journal of Business Management, International Review of Economics and Finance, Quantitative Finance and Economics, International Journal of Financial Studies, Economies, North American Journal of Economics and Finance, Proceedings of the National Conference of Undergraduate Research, Research in International Business and Finance.
- 2018 to 2019
  Committee Member (Orlando, FL, USA)
  SFA Annual Meetings
- Nov 2018 to Feb 2019
  Committee Member (Glasgow, Scotland)
  2019 FMA Europe Conference
- Aug 2018 to Nov 2018
  Committee Member (Cambridge, UK)
  2018 FMA Consortium on Factor Investing
- Aug 2018 to Oct 2018
  Committee Member (Houston, TX, United States)
  Southwest Finance Association Annual Meeting
- Nov 2017 to Feb 2018
  Committee Member (Kristiansand, Norway)
  2018 FMA Europe Conference

Faculty & Staff Resources

DAVID A. RAKOWSKI

[David Rakowski]

Research Interests

Research Interests

Research Keywords

Research Keywords

Teaching Interests

Teaching Interests

Biography

Biography

Education

Education

Memberships

Awards and Honors

News Articles

News Articles

Support & Funding

Support & Funding

Publications

Presentations

Students Supervised

Courses

Service to the University

Service to the Profession