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Nejat Seyhun

(734) 763-5463

nseyhun@umich.edu

Room R6356

Jerome B. and Eileen M. York Professor of Business Administration

Professor of Finance

Education

PhD University of Rochester 1984

MS University of Rochester 1981

BSEE Northwestern University 1976

Academic Areas

Finance

Biography

Nejat’s research activity focuses on backdating of executive options, risk-return trade-off in asset prices, intra-day impact of insider trading, long-run performance of IPOs, managerial overconfidence, Chinese walls and conflicts of interest in securities firms, option pricing, and conflict between information efficiency and rewards to information gathering. His backdating work with M.P. Narayanan has helped uncover one of the biggest corporate scandals of recent years, bringing to light a business practice with numerous legal, ethical and corporate governance implications.

Latest Faculty News & Research

Faculty News & Research

December 20, 2022

Michigan Ross Business Experts' Recommendations on 'Insider Giving' Incorporated into New SEC Rules

Faculty News & Research, Dividend

April 4, 2022

Finance Concepts Can Help Address Personal Money Concerns, Michigan Ross Professor Says in New Book

“A Question About Your Money: Has Anything Truly Changed This Week,” https://www.nytimes.com/2023/03/18/your-money/bank-failures-finance-goals.html?searchResultPosition=1

Authors

New York Times

Published Date

03/2023

Authors

New York Times

Source

New York Times

“Corporate Insiders are not Betting on a Market Rebound,” https://www.wsj.com/articles/corporate-insiders-arent-betting-on-a-market-rebound-11672889061?mod=Searchresults_pos1&page=1

Authors

Wall Street Journal

Published Date

01/2023

Authors

Wall Street Journal

Source

Wall Street Journal

“CEO Stock Sales Raise Questions About Insider Trading,” https://www.wsj.com/articles/executive-stock-sales-questions-insider-trading-11656514551?mod=Searchresults_pos1&page=1

Authors

Wall Street Journal

Published Date

06/2022

Authors

Wall Street Journal

Source

Wall Street Journal

Improper ‘Insider Charitable Giving’ is Widespread, Study Says, https://www.wsj.com/articles/insider-charitable-giving-11625418315?mod=searchresults_pos1&page=1

Authors

Mark Hulbert

Published Date

7/2021

Authors

Mark Hulbert

Source

Wall Street Journal

Insider Giving

Authors

Avci, S; Schipani, C; Seyhun, N; Verstein, A.

Published Date

10/2021

Authors

Avci, S; Schipani, C; Seyhun, N; Verstein, A.

Source

Duke Law Journal

Volume

Issue

Pages

619

Market Watch, November 23, 2021, These company insiders are the only ones to watch — and right now their buying is bullish for U.S. stocks, https://www.marketwatch.com/story/these-company-insiders-are-the-only-ones-to-watch-and-right-now-their-buying-is-b

Authors

Market Watch

Published Date

11/2021

Authors

Market Watch

Source

Market Watch

Insiders are making cautious moves with their company stock after April’s big market surge. Why it matters

Authors

Mark Hulbert

Published Date

05/2020

Authors

Mark Hulbert

Source

Market Watch

Opinion: Coronavirus is scaring company insiders into selling their shares — fast

Authors

Mark Hulbert

Published Date

03/2020

Authors

Mark Hulbert

Source

Market Watch

Who’s Betting on a Rebound in Stocks? Corporate Insiders
Executives and directors have bought shares of their own companies at a breakneck pace in March in a signal of corporate optimism

Authors

Caitlin McCabe

Published Date

03/2020

Authors

Caitlin McCabe

Source

Wall Street Journal

A Stock-Market Forecasting Tool That Actually Works

Authors

Barron's

Published Date

2019

Authors

Barron's

Source

Barron's

Insider Info on the State of the Stock Market

Authors

H. Nejat Seyhun

Published Date

2019

Authors

H. Nejat Seyhun

Source

The Hill

Opinion: As stock markets skidded early this month, company insiders boosted their buying
Published: Aug. 9, 2019 at 8:48 a.m. ET

Authors

Mark Hulbert

Published Date

08/2019

Authors

Mark Hulbert

Source

Market Watch

Opinion: Insiders were buying — not selling — as stock market sank

Authors

Mark Hulbert

Published Date

08/2019

Authors

Mark Hulbert

Source

Market Watch

Opinion: What insider buying at tech companies says about stocks and the economy

Authors

Michael Brush

Published Date

06/2019

Authors

Michael Brush

Source

Market Watch

Don’t Sit Out the Market, Here’s Why

Authors

Forbes

Published Date

2018

Authors

Forbes

Source

Forbes

Should Size Matter When Regulating Firms? Implications from Backdating of Executive Options

Authors

H. Nejat Seyhun, Deniz Anginer, Cindy Schipani, MP Narayanan

Published Date

2012

Authors

H. Nejat Seyhun, Deniz Anginer, Cindy Schipani, MP Narayanan

Source

New York University Journal of Legislation and Public Policy

Volume

Issue

Pages

1-44

Fraud on the Market: Analysis of the Efficiency of the Corporate Bond Market

Authors

H. Nejat Seyhun, Michael Hartzmark, Cindy Schipani

Published Date

2011

Authors

H. Nejat Seyhun, Michael Hartzmark, Cindy Schipani

Source

Columbia Business Law Review

Volume

Pages

654-716

How Do Quotes and Prices Evolve Around Isolated Informed Trades?

Authors

H. Nejat Seyhun, Ahmet Can Inci

Published Date

2010

Authors

H. Nejat Seyhun, Ahmet Can Inci

Source

Journal of Economics and Finance

Volume

Intraday Behavior of Stock Prices and Trades around Insider Trading

Authors

H. Nejat Seyhun, Ahmet Can Inci, Biao Lu

Published Date

2010

Authors

H. Nejat Seyhun, Ahmet Can Inci, Biao Lu

Source

Financial Management (FM)

Volume

Pages

323-363

Personal Finance for Every Challenges: Toward Financial Fortitude

Authors

Nejat Seyhun

Published Date

02/2022

Authors

Nejat Seyhun

Source

Cambridge Scholars Press

Financial Derivatives in Corporate Finance: Managing Risk and Creating Value

Financial Management

Valuation