Andy Naranjo

John B. Hall Prof & Chair
Chair, Finance, Insurance and Real Estate Department

Business Phone:
(352) 392-3781

Business Email

CV
Contact Details

Education

PhD - Financial and International Economics, Claremont Graduate University, 1994
MA - Economics, Claremont Graduate University, 1988
BS - Economics, University of California at Riverside, 1986

Research Interests

Asset Pricing
Real Estate Finance
International Finance
Corporate Finance
Financial Economics
Capital Market Linkages and Flows
Information Flows and Processing

Courses Taught

Gie Chile ( GEB6930 ) — Spring 2019
Internatl Finance ( FIN6626 ) — Spring 2019
Gie - Chile ( GEB6930 ) — Fall 2018
Gie- Chile ( GEB6930 ) — Fall 2018
International Finan ( FIN6638 ) — Fall 2018
Internatl Finance ( FIN6626 ) — Fall 2018
Internatl Finance ( FIN6626 ) — Spring 2018
Intl Bus and Fin ( FIN7931 ) — Spring 2018
International Finan ( FIN6638 ) — Fall 2017
Internatl Finance ( FIN6626 ) — Fall 2017
Gie-Ft-Brazil ( GEB6930 ) — Spring 2017
Internatl Finance ( FIN6626MBA ) — Spring 2017
Intl Bus and Fin ( FIN7931 ) — Spring 2017
Gie - Cuba ( GEB6930I ) — Fall 2016
International Finance ( FIN6626 ) — Fall 2016
International Finance ( FIN6626 ) — Spring 2016
International Study - Brazil ( GEB6930K ) — Spring 2016
Special Topics ( GEB6930 ) — Spring 2016
Special Topics in Finance ( FIN6930 ) — Spring 2016
International Finance ( FIN6626 ) — Fall 2015
International Study - Brazil ( GEB6930K ) — Fall 2015
Special Topics ( GEB6930 ) — Fall 2015
International Finance ( FIN6626 ) — Spring 2015
Special Topics ( GEB6930 ) — Spring 2015
International Finance ( FIN6626 ) — Fall 2014
International Finance ( FIN6626 ) — Spring 2014
International Finance ( FIN6626 ) — Fall 2013
International Finance ( FIN6626 ) — Spring 2013
Special Topics ( GEB6930 ) — Spring 2013
International Finance ( FIN6626 ) — Fall 2012
International Finance ( FIN6626 ) — Spring 2012
International Study - Chile ( GEB6930L ) — Spring 2012
International Finance ( FIN6638 ) — Fall 2011
International Study - Chile ( GEB6930L ) — Fall 2011
International Finance ( FIN6626 ) — Spring 2011
International Study - Argentina ( GEB6930AC ) — Spring 2011
International Finance ( FIN6638 ) — Fall 2010
International Study - Brazil ( GEB6930K ) — Fall 2010

Book Chapter Publications

Corporate Borrower Nationality and Global Presence: Cross Country Evidence on the Pricing of Syndicated Bank Loans
Published Year: 2012
Authors: Joel Houston, Jenifer Itzkowitz, Andy Naranjo
Commercial Real Estate Return Performance: A Cross-Country Analysis
Published Year: 2002
Authors: David Ling, Andy Naranjo

Conference Proceeding Publications

Do Real Estate Ownership and Leasing Decisions Affect a Non-Real Estate Firm's Stock Market Risk and Return?'
Published Year: 2006
Authors: D. Ling, M. Ryngaert, Andy Naranjo
The Effects of Purchases of Mortgages and Securitization by Government Sponsored Enterprises on Mortgage Yield Spreads and Volatility
Published Year: 2002
Authors: A. Toevs, Andy Naranjo
Fundamental Determinants of Commercial Real Estate Returns'
Published Year: 1998
Authors: Andy Naranjo

Journal Article Publications

Asset Location, Timing Ability and the Cross-Section of Commercial Real Estate Returns
Journal: Real Estate Economics
Published Year: 2019
Authors: David Ling, Andy Naranjo, Benjamin Scheick
Corporate internationalization, subsidiary locations, and the cost of equity capital
Journal: Journal of International Business Studies
Published Year: 2019
Authors: Atanas Mihov, Andy Naranjo
When do CDS spreads lead? Rating events, private entities, and firm-specific information flows
Journal: Journal of Financial Economics
Published Year: 2018
Authors: Jongsub Lee, Andy Naranjo, Guner Velioglu
Geographic Portfolio Allocations, Property Selection and Performance Attribution in Public and Private Real Estate Markets
Journal: Real Estate Economics
Published Year: 2018
Authors: David Ling, Andy Naranjo, Benjamin Scheick
Asset Location, Timing Ability, and the Cross-Section of Commercial Real Estate Returns
Journal: Real Estate Economics
Accepted Year: 2018
Authors: David Ling, Andy Naranjo, Benjamin Scheick
REIT Leverage and Return Performance: Keep Your Eye on the Target
Journal: Real Estate Economics
Published Year: 2017
Authors: Emanuela Giacomini, David Ling, Andy Naranjo
Waiting to be Called: The Impact of Deployment Speeds and Opportunity Costs on PERE Returns
Journal: Journal of Portfolio Management
Published Year: 2017
Authors: Thomas Arnold, David Ling, Andy Naranjo
Waiting to Be Called: The Impact of Manager Discretion and Dry Powder on Private Equity Real Estate Returns
Journal: The Journal of Portfolio Management
Published Year: 2017
Authors: Thomas Arnold, David Ling, Andy Naranjo
There's No Place Like Home: Local Asset Concentration, Information Asymmetries and Commercial Real Estate Returns
Journal: SSRN Electronic Journal
Published Year: 2017
Authors: David Ling, Andy Naranjo, Benjamin Scheick
Borrowing beyond borders: Foreign assets, lender choice, and loan pricing in the syndicated bank loan market
Journal: Journal of Corporate Finance
Published Year: 2017
Authors: Joel Houston, Jennifer Itzkowitz, Andy Naranjo
Customer-base Concentration and the Transmission of Idiosyncratic Volatility along the Vertical Chain
Journal: Journal of Empirical Finance
Published Year: 2017
Authors: Atanas Mihov, Andy Naranjo
Customer-base concentration and the transmission of idiosyncratic volatility along the vertical chain
Journal: Journal of Empirical Finance
Published Year: 2017
Authors: Atanas Mihov, Andy Naranjo
REIT Leverage and Return Performance: Keep Your Eye on the Target
Journal: Real Estate Economics
Published Year: 2016
Authors: Emanuela Giacomini, David Ling, Andy Naranjo
Borrowing beyond Borders: Foreign Assets, Lender Choice, and Loan Pricing in the Syndicated Bank Loan Market
Journal: Journal of Corporate Finance
Accepted Year: 2016
Authors: Andy Naranjo
Cloud Computing Spot Pricing Dynamics: Latency and Limits to Arbitrage
Journal: Information Systems Research
Accepted Year: 2016
Authors: Hsing Cheng, Zhi Li, Andy Naranjo
Customer-base Concentration and the Transmission of Idiosyncratic Volatility Along the Vertical Chain
Journal: Journal of Empirical Finance
Accepted Year: 2016
Authors: Atanas Mihov, Andy Naranjo
Exodus from Sovereign Risk: Global Asset and Information Networks in the Pricing of Corporate Credit Risk
Journal: Journal of Finance
Accepted Year: 2016
Authors: Andy Naranjo
Credit Availability and Asset Pricing in Illiquid Markets: Evidence from Commercial Real Estate Markets"
Journal: Journal of Money, Credit and Banking
Published Year: 2016
Authors: David Ling, Andy Naranjo, Benjamin Scheick
Credit Availability and Asset Pricing Dynamics in Illiquid Markets: Evidence from Commercial Real Estate Markets
Journal: Journal of Money, Credit and Banking
Published Year: 2016
Authors: David Ling, Andy Naranjo, Benjamin Scheick
Geographic Allocations, Property Selection, and Performance Attribution in Public and Private Real Estate Markets
Journal: Real Estate Economics
Accepted Year: 2016
Authors: David Ling, Andy Naranjo, Benjamin Scheick
Why Do Distant Buyers Pay More? Search Costs, Behavioral Biases, and Information Intermediary Effects
Journal: Journal of Real Estate Finance and Economics
Accepted Year: 2016
Authors: David Ling, Andy Naranjo, Milena Petrova
Exodus from Sovereign Risk: Global Asset and Information Networks in the Pricing of Corporate Credit Risk
Journal: The Journal of Finance
Published Year: 2016
Authors: Jongsub Lee, Andy Naranjo, STACE SIRMANS
Research Note—Cloud Computing Spot Pricing Dynamics: Latency and Limits to Arbitrage
Journal: Information Systems Research
Published Year: 2016
Authors: Hsing Cheng, Zhi Li, Andy Naranjo
Borrowing beyond Borders: Foreign Assets, Lender Choice, and Loan Pricing in the Syndicated Bank Loan Market
Journal: Journal of Corporate Finance
Authors: Andy Naranjo
CDS Momentum: Slow Moving Credit Ratings and Cross-Market Spillovers
Journal: Journal of Financial and Quantitative Analysis
Authors: Jongsub Lee, Stace Sirmans, Andy Naranjo
Corporate International Diversification and Firm Return Volatility
Journal: Journal of Accounting & Economics
Authors: Atanas Mihov, Andy Naranjo
Credit Availability and Asset Pricing Spirals in Illiquid Markets
Journal: Journal of Money, Credit and Banking
Accepted Year: 2015
Authors: Andy Naranjo
Equity and Credit Market Integration around the Globe
Journal: Unknown
Authors: Andy Naranjo
Going abroad in a Risky World: Cash Flow Diversification, Institutional Frictions, and Corporate Leverage
Journal: Unknown
Authors: Andy Naranjo
MSA Geographic Allocations, Property Selection, and Performance Attribution in Public and Private Real Estate Market Returns
Journal: Real Estate Economics
Accepted Year: 2015
Authors: Andy Naranjo
Online Crowdfunding and Market Integration: Lending Beyond State Borders
Journal: Unknown
Authors: Kenny Cheng, Zhi Li, Andy Naranjo
REIT Leverage and Return Performance: Keep your Eye on the Target
Journal: Real Estate Economics
Authors: David Ling, Emanuela Giacomini, Andy Naranjo
Related Securities and the Cross-section of Stock Return Momentum
Journal: Unknown
Authors: Andy Naranjo
Setting the Stage ahead of the Earnings Spotlight: Media Coverage, Analysts Revisions, and the Post-Earnings Announcement Drift
Journal: Unknown
Authors: Diana Shao, Andy Naranjo
Why Do Distant Buyers Pay More? Search Costs, Behavioral Biases, and Information Intermediary Effects
Journal: Journal of Real Estate Finance and Economics
Authors: David Ling, Milena Petrova, Andy Naranjo
Internet Appendix for 'Exodus from Sovereign Risk:Global Asset and Information Networks in the Pricing of Corporate Credit Risk'
Journal: SSRN Electronic Journal
Published Year: 2015
Authors: Jongsub Lee, Andy Naranjo, Stace Sirmans
MSA Geographic Allocations, Property Selection, and Performance Attribution in Public and Private Real Estate Markets
Journal: SSRN Electronic Journal
Published Year: 2015
Authors: David Ling, Andy Naranjo, Benjamin Scheick
Leverage and Returns: A Cross-Country Analysis of Public Real Estate Markets
Journal: The Journal of Real Estate Finance and Economics
Published Year: 2015
Authors: Emanuela Giacomini, David Ling, Andy Naranjo
Returns and Information Transmission Dynamics in Public and Private Real Estate Markets
Journal: Real Estate Economics
Published Year: 2015
Authors: David Ling, Andy Naranjo
Corporate Socially Responsible Investments: CEO Altruism, Reputation, and Shareholder Interests
Journal: Journal of Corporate Finance
Published Year: 2014
Authors: Joel Houston, Rick Borghesi, Andy Naranjo
Leverage and Returns: A Cross-Country Analysis of Public Real Estate Markets
Journal: Journal of Real Estate Finance and Economics
Published Year: 2014
Authors: Andy Naranjo
Returns and Information Transmission Dynamics in Public and Private Real Estate Markets
Journal: Real Estate Economics
Published Year: 2014
Authors: David Ling, Andy Naranjo
CDS Momentum: Slow Moving Credit Ratings and Cross-Market Spillovers
Journal: SSRN Electronic Journal
Published Year: 2014
Authors: Jongsub Lee, Andy Naranjo, Stace Sirmans
Investor Sentiment, Limits to Arbitrage and Private Market Returns
Journal: Real Estate Economics
Published Year: 2014
Authors: David Ling, Andy Naranjo, Benjamin Scheick
Corporate socially responsible investments: CEO altruism, reputation, and shareholder interests
Journal: Journal of Corporate Finance
Published Year: 2014
Authors: Richard Borghesi, Joel Houston, Andy Naranjo
Investor Sentiment, Limits to Arbitrage, and Private Market Returns
Journal: Real Estate Economics
Published Year: 2013
Authors: David Ling, Ben Scheick, Andy Naranjo
Introduction to the Special Issue
Journal: The Journal of Real Estate Finance and Economics
Published Year: 2013
Authors: Wayne Archer, David Ling, Andy Naranjo
The Exodus from Sovereign Risk: Sovereign Ceiling Violations in Credit Default Swap Markets
Journal: SSRN Electronic Journal
Published Year: 2013
Authors: Jongsub Lee, Andy Naranjo, Stace Sirmans
Government Procurement, Political Connections and Firm Value
Journal: Unknown
Authors: Jongsub Lee, Kwang Lee, Andy Naranjo
Information, Uncertainty, and Behavioral Effects: Evidence from Abnormal Returns around Real Estate Investment Trust Earnings Announcements
Journal: Journal of International Money and Finance
Published Year: 2012
Authors: Frank Gyamfi-Yeboah, David Ling, Andy Naranjo
Multi-market Trading and Funding Liquidity Risk
Journal: Unknown
Authors: E. Dudley, Andy Naranjo
Real Estate Ownership, Leasing Intensity, and Value: Do Stock Returns Reflect a Firm's Real Estate Holdings?
Journal: Journal of Real Estate Finance and Economics
Published Year: 2012
Authors: David Ling, Michael Ryngaert, Andy Naranjo
Information, uncertainty, and behavioral effects: Evidence from abnormal returns around real estate investment trust earnings announcements
Journal: Journal of International Money and Finance
Published Year: 2012
Authors: Frank Gyamfi-yeboah, David Ling, Andy Naranjo
What Motivates Corporate Managers to Make Socially Responsible Investments?
Journal: SSRN Electronic Journal
Published Year: 2012
Authors: Richard Borghesi, Joel Houston, Andy Naranjo
Real Estate Ownership, Leasing Intensity, and Value: Do Stock Returns Reflect a Firm’s Real Estate Holdings?
Journal: The Journal of Real Estate Finance and Economics
Published Year: 2012
Authors: David Ling, Andy Naranjo, Michael Ryngaert
Expected Returns, Volatility, and Credit Market Frictions
Journal: Unknown
Authors: M. Nimalendran, S. Sardarli, Andy Naranjo
Derivative usage and firm value: The influence of agency costs and monitoring problems
Journal: Journal of Corporate Finance
Published Year: 2010
Authors: Larry Fauver, Andy Naranjo
Derivative Usage and Firm Value: The Influence of Agency Costs and Market Imperfections
Journal: Journal of Corporate Finance
Published Year: 2010
Authors: Larry Fauver, Andy Naranjo
Public and Non-Public Information in Credit Ratings
Journal: Unknown
Authors: M. Livingston, M. Nimalendran, L. Zhou, Andy Naranjo
Risk Factor and Industry Effects in the Cross-Country Comovement of Momentum Returns
Journal: Journal of International Money and Finance
Published Year: 2010
Authors: B. Porter, Andy Naranjo
The Determinants and Time-Variation of Price Discovery: S&P 500 SPDRs, Futures, and Options
Journal: Unknown
Authors: T. Barkely, M. Nimalendran, Andy Naranjo
Where's the Liquidity? Information and Trading Costs in Asset Pricing
Journal: Unknown
Authors: T. Barkely, M. Nimalendran, Andy Naranjo
Spillover effects of domestic law enforcement policies
Journal: International Review of Law and Economics
Published Year: 2010
Authors: Alberto Naranjo
Risk factor and industry effects in the cross-country comovement of momentum returns
Journal: Journal of International Money and Finance
Published Year: 2010
Authors: Andy Naranjo, Burt Porter
Commercial Real Estate Valuation: Fundamentals versus Investor Sentiment
Journal: Journal of Real Estate Finance and Economics
Published Year: 2009
Authors: J. Clayton, D. Ling, Andy Naranjo
Institutional Capital Flows and Return Dynamics in Private Commercial Real Estate Markets
Journal: Journal of Real Estate Economics
Published Year: 2009
Authors: J. Fisher, D. Ling, Andy Naranjo
Institutional Capital Flows and Return Dynamics in Private Commercial Real Estate Markets
Journal: Real Estate Economics
Published Year: 2009
Authors: Jeffrey Fisher, David Ling, Andy Naranjo
Commercial Real Estate Valuation: Fundamentals Versus Investor Sentiment
Journal: The Journal of Real Estate Finance and Economics
Published Year: 2009
Authors: Jim Clayton, David Ling, Andy Naranjo
Split Bond Ratings and Rating Migration
Journal: Journal of Banking & Finance
Published Year: 2008
Authors: M. Livingston, L. Zhou, Andy Naranjo
Split bond ratings and rating migration
Journal: Journal of Banking & Finance
Published Year: 2008
Authors: Miles Livingston, Andy Naranjo, Lei Zhou
Commercial Real Estate Valuation: Fundamentals Versus Investor Sentiment
Journal: SSRN Electronic Journal
Published Year: 2008
Authors: Jim Clayton, David Ling, Andy Naranjo
Asset Opaqueness and Split Bond Ratings
Journal: Financial Management
Published Year: 2007
Authors: M. Livingston, L. Zhou, Andy Naranjo
Including Emerging Markets in International Momentum Investment Strategies
Journal: Emerging Markets Review
Published Year: 2007
Authors: B. Porter, Andy Naranjo
Value, Survival, and the Evolution of Firm Organizational Structure
Journal: Financial Management
Published Year: 2007
Authors: R. Borghesi, J. Houston, Andy Naranjo
Asset Opaqueness and Split Bond Ratings
Journal: Financial Management
Published Year: 2007
Authors: Miles Livingston, Andy Naranjo, Lei Zhou
Value, Survival, and the Evolution of Firm Organizational Structure
Journal: Financial Management
Published Year: 2007
Authors: Richard Borghesi, Joel Houston, Andy Naranjo
Including emerging markets in international momentum investment strategies
Journal: Emerging Markets Review
Published Year: 2007
Authors: Andy Naranjo, Burt Porter
Title: Unknown
Journal: Revista de Indias
Published Year: 2007
Authors: Consuelo Naranjo Orovio
Borrowing Beyond Borders: The Geography and Pricing of Syndicated Bank Loans
Journal: SSRN Electronic Journal
Published Year: 2007
Authors: Joel Houston, Jennifer Itzkowitz, Andy Naranjo
Dedicated REIT Mutual Fund Flows and REIT Performance
Journal: Journal of Real Estate Finance and Economics
Published Year: 2006
Authors: D. Ling, Andy Naranjo
Dedicated REIT Mutual Fund Flows and REIT Performance
Journal: The Journal of Real Estate Finance and Economics
Published Year: 2006
Authors: David Ling, Andy Naranjo
Asset Opaqueness, Split Bond Ratings, and Rating Migration
Journal: SSRN Electronic Journal
Published Year: 2005
Authors: Miles Livingston, Andy Naranjo, Lei Zhou
Cross-Country Evidence on the Value of Corporate Industrial and International Diversification
Journal: Journal of Corporate Finance
Published Year: 2004
Authors: L. Fauver, J. Houston, Andy Naranjo
Cross-country evidence on the value of corporate industrial and international diversification
Journal: Journal of Corporate Finance
Published Year: 2004
Authors: Larry Fauver, Joel Houston, Andy Naranjo
Cross-Country Comovement of Momentum Returns
Journal: SSRN Electronic Journal
Published Year: 2004
Authors: Andy Naranjo, R. Porter
Capital Market Development, International Integration, Legal Systems, and the Value of Corporate Diversification: A Cross Country Analysis
Journal: Journal of Financial and Quantitative Analysis
Published Year: 2003
Authors: L. Fauver, J. Houston, Andy Naranjo
The Dynamics of REIT Capital Flows and Returns
Journal: Journal of Real Estate Economics
Published Year: 2003
Authors: D. Ling, Andy Naranjo
The Dynamics of REIT Capital Flows and Returns
Journal: Real Estate Economics
Published Year: 2003
Authors: David Ling, Andy Naranjo
Capital Market Development, International Integration, Legal Systems, and the Value of Corporate Diversification: A Cross-Country Analysis
Journal: The Journal of Financial and Quantitative Analysis
Published Year: 2003
Authors: Larry Fauver, Joel Houston, Andy Naranjo
Commercial Real Estate Return Performance: A Multi-Beta, Cross-Country Analysis
Journal: Journal of Real Estate Finance and Economics
Published Year: 2002
Authors: D. Ling, Andy Naranjo
The Effects of Purchases of Mortgages and Securitization by Government Sponsored Enterprises on Mortgage Yield Spreads and Volatility
Journal: Journal of Real Estate Finance and Economics
Published Year: 2002
Authors: A. Toevs, Andy Naranjo
Capital Market Development, Integration, Legal Systems, and the Value of Corporate Diversification: A Cross-Country Analysis
Journal: SSRN Electronic Journal
Published Year: 2002
Authors: Larry Fauver, Joel Houston, Andy Naranjo
Estimating Returns on Commercial Real Estate: A New Methodology Using Latent Variable Models
Journal: Real Estate Economics
Accepted Year: 2000
Authors: Andy Naranjo
Government Intervention and Adverse Selection Costs in Foreign Exchange Markets
Journal: Review of Financial Studies, The
Published Year: 2000
Authors: Andy Naranjo
The Predictability of Equity REIT Returns: Time Variation and Economic Significance
Journal: Journal of Real Estate Finance and Economics
Published Year: 2000
Authors: D. Ling, M. Ryngaert, Andy Naranjo
Time Variation of Ex-dividend Day Stock Returns and Corporate Dividend Capture: A Re- examination
Journal: Journal of Finance
Published Year: 2000
Authors: M. Nimalendran, M. Ryngaert, Andy Naranjo
Time Variation of Ex-Dividend Day Stock Returns and Corporate Dividend Capture: A Reexamination
Journal: The Journal of Finance
Published Year: 2000
Authors: Andy Naranjo, Mahendrarajah Nimalendran, Mike Ryngaert
Estimating Returns on Commercial Real Estate: A New Methodology Using Latent-Variable Models
Journal: Real Estate Economics
Published Year: 2000
Authors: David Ling, Andy Naranjo, Mahendrarajah Nimalendran
Government Intervention and Adverse Selection Costs in Foreign Exchange Markets
Journal: Review of Financial Studies
Published Year: 2000
Authors: Andy Naranjo, Mahendrarajah Nimalendran
The Integration of Commercial Real Estate Markets and Stock Markets
Journal: Journal of Real Estate Economics
Published Year: 1999
Authors: D. Ling, Andy Naranjo
The Integration of Commercial Real Estate Markets and Stock Markets
Journal: Real Estate Economics
Published Year: 1999
Authors: David Ling, Andy Naranjo
Stock Returns, Dividend Yields, and Taxes
Journal: The Journal of Finance
Published Year: 1998
Authors: Andy Naranjo, Mahendrarajah Nimalendran, Mike Ryngaert
Stock Returns, Dividend Yields and Taxes
Journal: Journal of Finance
Published Year: 1998
Authors: M. Nimalendran, M. Ryngaert, Andy Naranjo
Economic Risk Factors and Commercial Real Estate Returns
Journal: Journal of Real Estate Finance and Economics
Published Year: 1997
Authors: D. Ling, Andy Naranjo
Financial Market Integration Tests: An Investigation Using U.S. Equity Markets
Journal: Journal of International Financial Markets, Institutions & Money
Published Year: 1997
Authors: A. Protopapadakis, Andy Naranjo
Financial market integration tests: an investigation using US equity markets
Journal: Journal of International Financial Markets, Institutions and Money
Published Year: 1997
Authors: Andy Naranjo, Aris Protopapadakis

Contact Details

Business Address:
University of Florida
Warrington College of Business
Finance, Insurance and Real Estate Department
Stuzin Hall 309C

Business Phone:
(352) 392-3781

Business Email

Andy Naranjo

Education

Research Interests

Courses Taught

Book Chapter Publications

Conference Proceeding Publications

Journal Article Publications

Contact Details

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