Joshua Pollet

Professor of Finance and Associate Chair of Finance and A Robert and Helen P Seass Faculty Fellow

Contact

4052 Business Instructional Facility

515 Gregory Dr

Champaign, IL 61820

Listings

Educational Background

Ph.D., Economics, Harvard University, 2004
B.A., Magna Cum Laude, Economics, Emory University, 1998

Positions Held

Associate Chair of Finance, Finance, University of Illinois at Urbana-Champaign, 2023 to present
Professor of Finance, University of Illinois at Urbana-Champaign, 2021 to present
Associate Professor of Finance, University of Illinois at Urbana-Champaign, 2012-2021
Associate Professor of Finance, Michigan State University, 2009-2012
Assistant Professor of Finance, Emory University, 2008-2009
Assistant Professor of Finance, University of Illinois at Urbana-Champaign, 2004-2008

Recent Publications

Muravyev, D., Pearson, N., & Pollet, J. (2022). Is There a Risk Premium in the Stock Lending Market? Evidence from Equity Options. Journal of Finance, 77 (3), 1787-1828. link >
Pearson, N., Muravyev, D., & Pollet, J. (2022). Is There a Risk Premium in the Stock Lending Market? Evidence from Equity Options. Journal of Finance, 77 (3), 1787-1828. link >

Other Publications

Articles

Chaudhuri, R., Ivkovich, Z., Pollet, J., & Trzcinka, C. (2020). PhDs in Institutional Money Management: A Tangled Tale of Talent and Training. Management Science, 66 (12), 5623–5647. link >
Cunha, I., & Pollet, J. (2020). Why do Firms Hold Cash? Evidence from Demographic Demand Shifts. Review of Financial Studies, 33 (9), 4102–4138. link >
Jegadeesh, N., Roman, K., & Pollet, J. (2015). Risk and Expected Returns of Private Equity Investments: Evidence Based on Market Prices. Review of Financial Studies, 28 (12), 3269-3302.
Hilscher, J., Pollet, J., & Wilson, M. (2015). Are credit default swaps a sideshow? Evidence that information flows from equity to CDS markets. Journal of Financial and Quantitative Analysis, 50 (3), 543-567.
DellaVigna, S., & Pollet, J. (2013). Capital Budgeting vs. Market Timing: An Evaluation Using Demographics. Journal of Finance, 68 (1), 237-270.
Deuskar, P., Pollet, J., Wang, Z., & Zheng, L. (2011). The Good or the Bad? Which Mutual Fund Managers Join Hedge Funds? Review of Financial Studies, 24 (9), 3008-3024.
Pollet, J., & Wilson, M. (2010). Average Correlation and Stock Market Returns. Journal of Financial Economics, 96 (3), 364-380.
DellaVigna, S., & Pollet, J. (2009). Investor Inattention and Friday Earnings Announcements. Journal of Finance, 64 (2), 709-749.
Pollet, J., & Wilson, M. (2008). How Does Size Affect Mutual Fund Behavior? Journal of Finance, 63 (6), 2941-2969.
DellaVigna, S., & Pollet, J. (2007). Demographics and Industry Returns. American Economic Review, 97 (5), 1667-1702.

Book Chapters

Brown, J., Liebman, J., & Pollet, J., M. Feldstein and J. Liebman (Ed.) (2002). Estimating Life Tablets that Reflect Socioeconomic Differences in Mortality. The Distributional Effects of Social Security Reform ( pp. 447-457). Chicago, IL: University of Chicago Press.

Presentations

Muravyev, D., Pearson, N., & Pollet, J. (2023). Anomalies and Their Short-Sale Costs. SFS Cavalcade North America 2023, Society of Financial Studies.
Muravyev, D., Pearson, N., & Pollet, J. (2023). Why Does Options Market Information Predict Stock Returns? American Finance Association Annual Meeting, American Finance Association.
Kraussl, R., Kraussl, Z., Pollet, J., & Rinne, K. (2019). The Performance of Marketplace Lenders: Evidence from Lending Club Payment Data. 14th Annual Conference of the Financial Intermediation Research Society, Financial Intermediation Research Society.
Muravyev, D., Pearson, N., & Pollet, J. (2018). Is There a Risk Premium in the Stock Lending Market? Evidence from Equity Options. American Finance Association Annual Meetings, American Finance Association.
Muravyev, D., Pearson, N., & Pollet, J. (2017). Is There a Risk Premium in the Stock Lending Market? Evidence from Equity Options. 2017 China International Conference in Finance.
Muravyev, D., Pearson, N., & Pollet, J. (2017). Is There a Risk Premium in the Stock Lending Market? Evidence from Equity Options. 12th Annual Conference of the Financial Intermediation Research Society, Financial Intermediation Research Society.
Muravyev, D., Pearson, N., & Pollet, J. (2017). Is There a Risk Premium in the Stock Lending Market? Evidence from Equity Options. SFS Cavalcade North America 2017, Society of Financial Studies.
Pearson, N., Muravyev, D., & Pollet, J. (2017). Is There A Risk Premium in the Stock Lending Market: Evidence from Equity Options. HEC-McGill Winter Finance Workshop, HEC-McGill.
Muravyev, D., Pearson, N., & Pollet, J. (2017). Is There a Risk Premium in the Stock Lending Market? Evidence from Equity Options. 11th Jackson Hole Finance Conference, Jackson Hole Finance Group.
Pearson, N., Muravyev, D., & Pollet, J. (2016). Risk Premia in the Stock Lending Market: Evidence from Equity Options. NUS Risk Management Conference.
Cunha, I., & Pollet, J. (2015). Why Do Firms Hold Cash? Evidence from Demographic Demand Shift. European Finance Association 42nd Annual Meeting, European Finance Association.
Deuskar, P., Wang, Z., Zheng, L., & Pollet, J. (2011). The good, the bad or the expensive? Which mutual fund managers join hedge funds? UC Davis Symposium on Financial Institutions and Intermediaries.
Deuskar, P., Wang, Z., Zheng, L., & Pollet, J. (2010). The good, the bad or the expensive? Which mutual fund managers join hedge funds? American Finance Association Meetings.
Deuskar, P., Wang, Z., Zheng, L., & Pollet, J. (2009). The good, the bad or the expensive? Which mutual fund managers join hedge funds? Fourth Biannual FIRS Finance Conference.
Widdicks, M., Pollet, J., & White, J. (2008). Executive Stock Option Exercise Behavior with Consumption and Overconfidence. European Finance Association Annual Meeting.
Pollet, J., & DellaVigna, S. (2005). Strategic Release of Information on Friday: Evidence from Earnings Announcements. Adam Smith Asset Pricing Conference.
Pollet, J., & DellaVigna, S. (2005). Strategic Release of Information on Friday: Evidence from Earnings Announcements. American Economic Association Meetings.
Pollet, J., & DellaVigna, S. (2004). Strategic Release of Information on Friday: Evidence from Earnings Announcements. Hong Kong University of Science and Techology.
Pollet, J., & DellaVigna, S. (2004). Attention, Demographics, and the Stock Market. American Economic Association Meetings.
Pollet, J., & DellaVigna, S. (2003). Attention, Demographics, and the Stoci Market. National Bureau of Economic Research, Behavioral Finance Meetings.

Working Papers

Higgins, M., Kronlund, M., Park, J., & Pollet, J. The Role of Assets in Place: Loss of Market Exclusivity and Investment. link >
Pearson, N., Muravyev, D., & Pollet, J. Why Does Options Market Information Predict Stock Returns.
Pollet, J., & Widdicks, M. Share Retention, Executive Optimism, and Partial Option Exercise.
Roman, K., Kraussl, Z., Pollet, J., & Rinne, K. The Performance of Marketplace Lenders: Evidence from Lending Club Payment Data.
Brown, J., Pollet, J., & Weisbenner, S. The In-State Equity Bias of State Pension Plans.
Huang, J., Pollet, J., & Weisbenner, S. The Impact of Seeking Prestige: Corporate Decisions Around the Fortune 100 Threshold.
Muravyev, D., Pearson, N., & Pollet, J. Understanding Returns to Short Selling Using Option-Implied Stock Borrowing Fees.

Honors and Awards

A Robert and Helen P Seass Fellowship, University of Illinois Gies College of Business, 2013 to present
Dean's Impact Award, University of Illinois at Urbana-Champaign, 2022

Research Interests

The dominant component of Pollet's research program analyzes the reaction of stock prices and derivatives prices to various types of information. Because the behavior of corporate managers is affected by stock prices, the response of stock prices to information may also influence management decisions. In particular, this research theme examines the relation between investor inattention and stock prices as well as the relation between investor inattention and the decisions of corporate managers regarding capital structure and the timing of information disclosure. Although investor inattention is the primary focus, Pollet's research is also comprised of several projects investigating other topics including the trade-off between aggregate risk and expected return, the link between price impact and the investment decisions of mutual fund managers, the decision of mutual fund managers to join hedge funds, and the risk-return profile for private equity funds.

Current Courses

Investments (FIN 511) Introduction to investment analysis, including the theory and implementation of portfolio theory; empirical evidence on the performance of financial assets; evaluation of portfolio investment strategies; and the extension of diversification to international markets.