Associate Professor of Economics and Finance
Faculty Director, Financial Information Lab
Professor Neumann completed his Doctorate in Business Administration from Boston University's School of Management during the summer of 2003. The title of his dissertation was “Essays on the Selection and Evaluation of Asset Managers in the Institutional Market”. He was also an instructor in the School of Management Undergraduate Program from 2000-2003, receiving two teaching awards for his efforts.
In between receiving his DBA and a BS in Economics from the Wharton School in 1986, Dr. Neumann built information systems over 10 years for Arthur Andersen & Co. (now Accenture), Robert A. Stanger & Co., and AT&T. His responsibilities touched on all aspects of that field, including programming, design, project leadership, and systems analysis.
His systems background serves him well in the empirical research where his interests lie. His primary subject areas include personal finance and investment management, both on the retail side (for average investors) and the institutional side (for professional or corporate investors).
“Absence of Value: An Analysis of Investment Allocation Decisions by Institutional Plan Sponsors” in Financial Analysts Journal (Nov/Dec issue), with Jeffrey Heisler, Christopher Knittel, and Scott Stewart.
“A Pedagogical Tool for Arbitrage using DJIA-linked Market Instruments” in Journal of Financial Education (Vol. 35, Spring 2009).
“Portfolio Management Applications for the Classroom: Illustrating spot-futures parity and bear/bull strategies with ETFs and mutual funds” in Journal of the Academy of Business Education (Vol 10, Fall 2009).
“The ETF-Index Pricing Relationship” in Journal of Indexes (Vol 11 No 3, May/June 2008).
“Integrating Market Statistics, Institutional Features, and Theory: An Experiential Approach to Teaching Investments” in Journal of Financial Education (Vol. 34, Fall 2008).
“Does Mad Money Make the Market Go Mad?” in Quarterly Review of Economics and Finance (Vol 47 Iss 5, 2007), with Peppi M. Kenny.
“Demonstrating Arbitrage using Diamonds and the Dow Jones Industrials Index” in Review of Business (Vol. 28, No. 1; Fall 2007).
“Market Reaction to Jim Cramer’s Mad Money Lightning Round” in Journal of the Academy of Finance (Vol 5 Iss 1, Summer 2007), with Peppi M. Kenny.
"Why Do Institutional Plan Sponsors Hire and Fire Their Investment Managers?" in Journal of Business and Economic Studies (Vol 13 Iss 1, Spring 2007), with Jeffrey Heisler, Christopher Knittel, and Scott Stewart.
2009 Graham and Dodd Scroll Award from Financial Analysts Journal for “Absence of Value: An Analysis of Investment Allocation Decisions by Institutional Plan Sponsors”
Best in Track -- Investments at 2007 Academy of Finance Meeting of MBAA International: “Does Mad Money Make the Market Go Mad?”
Distinguished paper of Academy of Finance at 2006 MBAA Conference (Midwest Business Administration Association): "Analysis of the Wealth Impact of Re-Allocation Decisions by Institutional Plan Sponsors"
Best paper at 2004 NBEA (Northeast Business & Economics Association) Conference: "Why do Institutional Plan Sponsors Fire Their Investment Managers?"
2007 and 2008:
- Selected as “Professor of the Year” by the Economics and Finance Society.
- Teaching Excellence Award by the Tobin College of Business Faculty Development Committee.
“TIPS: Investing at Auction vs. using Mutual Funds.”
“Using ASSET and ACCOUNTS Data to Examine the Absence Of Value-Added from Investment Decisions by Institutional Plan Sponsors.”
“Morningstar’s 5-Star Stock Ratings: Market Reactions and Information Content.”