Biography
Tarun Chordia joined the Goizueta Business School in the fall of 2000. Tarun's research is grounded in both theory and empirical methods and spans a diverse area of financial economics. His teaching interests include securities and portfolios, financial institutions and fixed income markets. Prior to his doctoral studies, he worked for Citibank as a relationship and credit manager in the Financial Institutions Group.

Publications

• Brennan, Michael and Tarun Chordia, 1993, Brokerage Commission Schedules, Journal of Finance 48, 1379 - 1402.
• Chordia, Tarun and Avanidhar Subrahmanyam, 1995, Market Making, The Tick Size and Payment-for-Order-Flow: Theory and Evidence, Journal of Business 68, 543 - 576.
• Chordia, Tarun, 1996, The Structure of Mutual Fund Charges, Journal of Financial Economics 41, lead article.
• Brennan, Michael, Tarun Chordia and Avanidhar Subrahmanyam, 1998, Alternative Factor Specifications, Security Characteristics and the Cross-section of Expected Returns, Journal of Financial Economics 49, 345-374.
• Chordia, Tarun and Bhaskaran Swaminathan, 2000, Trading Volume and Cross-Autocorrelations in Stock Returns, Journal of Finance 55, 913-936.
• Chordia, Tarun, Richard Roll and Avanidhar Subrahmanyam, 2000, Commonality in Liquidity, Journal of Financial Economics 56, lead article.
• Chordia, Tarun, Avanidhar Subrahmanyam, and Ravi Anshuman, 2001, Trading Activity and Expected Stock Returns, Journal of Financial Economics 59, lead article.
• Chordia, Tarun, Richard Roll and Avanidhar Subrahmanyam, 2001, Market Liquidity and Trading Activity, Journal of Finance 56, 501-530
• Ball, Cliff and Tarun Chordia, 2001, True Spreads and Equilibrium Prices, Journal of Finance 56, 1801-1836.
• Chordia Tarun and Lakshmanan Shivakumar, 2002, Momentum, Business Cycle and Time-Varying Expected Returns, Journal of Finance 57, 985-1019.
• Chordia Tarun, Richard Roll and Avanidhar Subrahmanyam, 2002, Order Imbalance, Liquidity and Market Returns, Journal of Financial Economics 65, 111-130.
• Chordia, Tarun and Avanidhar Subrahmanyam, 2004, Order Imbalance and Individual Stock Returns: Theory and Evidence , Journal of Financial Economics 72, 485-518.
• Chordia, Tarun, Asani Sarkar and Avanidhar Subrahmanyam, An Empirical Analysis of Stock and Bond Market Liquidity, Review of Financial Studies 18, 85-130.
• Chordia Tarun, Richard Roll and Avanidhar Subrahmanyam, 2005, Evidence on the Speed of Convergence to Market Efficiency, Journal of Financial Economics 76, 271-292.
• Chordia Tarun and Lakshmanan Shivakumar, 2005, Inflation Illusion and Post-Earnings-Announcement Drift, Journal of Accounting Research 43, 521-556.
• Avramov, Doron and Tarun Chordia, Asset Pricing Models and Financial Market Anomalies, forthcoming Review of Financial Studies.
• Avramov, Doron, Tarun Chordia and Amit Goyal, The Impact of Trades on Daily Volatility, forthcoming Review of Financial Studies.
• Chordia Tarun and Lakshmanan Shivakumar, Earnings and Price Momentum, forthcoming Journal of Financial Economics.
• Avramov, Doron, Tarun Chordia and Amit Goyal, Liquidity and Autocorrelations in Individual Stock Returns, forthcoming Journal of Finance.
• Avramov, Doron and Tarun Chordia, Stock Return Predictability, forthcoming Journal of Financial Economics.
• Chordia Tarun, Sahn-Wook Huh and Avanidhar Subrahmanyam, The Cross-Section of Expected Trading Activity, forthcoming Review of Financial Studies.

Working Papers

• Chordia Tarun, Richard Roll and Avanidhar Subrahmanyam, Liquidity and Market Efficiency.

Areas of Specialization

• Asset Pricing
• Liquidity
• Market Micro-Structure
• Financial Institutions

Achievements and Honors

• Second prize, Chicago Quantitative Alliance, IBES competition, 1996
• Second prize, Fama-DFA prize for best paper published in the Journal of Financial Economics in areas of Capital Markets and Asset Pricing, 1998.
• Winner, Fama-DFA prize for best paper published in the Journal of Financial Economics in areas of Capital Markets and Asset Pricing, 2000.
• Research Grant, The Research Foundation of the Association for Investment Management and Research, 2000. Monograph - "Common Determinants of Liquidity and Trading."
• Research Grant, The Institute for Quantitative Research in Finance, 2001. Manuscript - "Evidence on the Speed of Convergence to Market Efficiency."
• Nominated for Smith Breeden prize for the best paper in the Journal of Finance in 2001 for the paper - True Spreads and Equilibrium Prices.
• Roger F. Murray prize 2001, The Institute for Quantitative Research in Finance, for the paper - Market Liquidity, Trading Activity and Order Imbalance.
• Caldwell Award for excellence in research, Goizueta Business School, Emory University
• Nominated for Smith Breeden prize for the best paper in the Journal of Finance in 2002 for the paper - Momentum, Business Cycle, and Time-Varying Expected Returns.
• Third Prize, Chicago Quantitative Alliance Academic Competition, 2003.
• Second prize, Chicago Quantitative Alliance Academic Competition, 2005.
• Research Grant, Morgan Stanley - Liquidity and Market Efficiency, 2005.
• Jordan Researcher Award for excellence in research, Goizueta Business School, Emory University, 2005.
• Best Paper Award, Market Microstructure Track, Financial Management Association, 2005

Professional Memberships and Activities

• Tarun has served on the program committee for the AFA, EFA, FMA and the WFA meetings and has served as a referee for numerous journals.

Selected Consulting Clients

• New York Stock Exchange
• Bird and Loechl

Academic Background
Ph.D., UCLA, 1993
MBA, Tulane University, 1987
MS, Chemical Engineering, Tulane University, 1985
B. Tech, Chemical Engineering, Indian Institute of Technology, 1984