Kerry Back

J. Howard Creekmore Professor of Finance and Professor of Economics
Finance Area Coordinator

Departments

Faculty

Office

McNair Hall 325

Contact 713-348-4168 keb7@rice.edu

Kerry Back is the J. Howard Creekmore Professor of Finance and Professor of Economics in the Jones Graduate School of Business and a Professor of Economics in the School of Social Sciences at Rice University. He previously served on the faculties of Northwestern University, Indiana University, Washington University in St. Louis, and Texas A&M University. He currently teaches asset pricing theory to PhD students in the Jones School and the Department of Economics, fundamentals of finance and quantitative finance to students in the Masters of Data Science program in the Department of Computer Science, and machine learning in finance and quantitative investment strategies to MBA students in the Jones School. He is a former editor of the Review of Financial Studies, a former editor of Finance & Stochastics, and a former associate editor of the Journal of Finance and various other academic journals. He is the author of two textbooks and of numerous articles in the leading finance and economics journals.

Teaching Interests:

Investments
Security markets
Options and futures
Financial theory

Research Interests:

Asset pricing theory and empirics
Market microstructure
Auction theory
Corporate investment

Intellectual Contributions

Journal Article

Back, K., & Crotty, K. (2014). The Informational Role of Stock and Bond Volume. Review of Financial Studies, 28(5), 1381-1427. doi:10.1093/rfs/hhu094

Journal Article

Back, K., & Baruch, S. (2013). Strategic Liquidity Provision in Limit Order Markets. Econometrica, 81(1), 363-392. doi:10.3982/ECTA10018.

Journal Article

Back, K., & Paulsen, D. (2009). Open Loop Equilibria and Perfect Competition in Option Exercise Games. Review of Financial Studies, 22(11), 4531-4552. doi:10.2139/ssrn.1139192.

Journal Article

Back, K., & Baruch, S. (2007). Working Orders in Limit Order Markets and Floor Exchanges. Journal of Finance, 61(4), 1589-1621. doi:10.1111/j.1540-6261.2007.01252.x.

Journal Article

Back, K. & Baruch, S. (2004). Information in Securities Markets: Kyle Meets Glosten and Milgrom. Econometrica, 72, 433-465. doi:10.1111/j.1468-0262.2004.00497.x

Working Paper

Back, K.E., Liu, R., & Teguia, A. (2016). Signaling in Over-the-Counter Markets: Benefits and Costs of Transparency. doi:10.2139/ssrn.2849630

Working Paper

Back, K.E., Crane, A.D., & Crotty, K. (2016). Skewness Consequences of Seeking Alpha. doi:10.2139/ssrn.2625788

Working Paper

Back, K.E., Crotty, K., & Li, T. (2016). Identifying Information Asymmetry in Securities Markets. https://ssrn.com/abstract=2565216

Working Paper

Back, K., Kapadia, N., and Ostdiek, B. (2015). Testing Factor Models on Characteristic and Covariance Pure Plays. http://www.ssrn.com/abstract=2621696

Working Paper

Back, K..E., Collin-Dufresne, P. Fos, V., Li, T., & Ljungqvist, A. (2017). Activism, Strategic Trading, and Liquidity. European Corporate Governance Institute (ECGI) doi:10.2139/ssrn.2873840