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