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Charles A. Trzcinka - Indiana University, Kelley School of Business. Bloomington, IN, US

Charles A. Trzcinka Charles A. Trzcinka

Professor of Finance | Indiana University, Kelley School of Business

Bloomington, IN, UNITED STATES

Dr. Trzcinka is an expert on financial markets and investments.

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Secondary Titles (1)

  • James W. and Virginia E. Cozad Chair of Finance

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Charles A. Trzcinka Publication

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Detecting the Next Madoff

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Biography

Charles Trzcinka holds the James and Virginia Cozad Chair of Finance at Indiana University School of Business. Dr. Trzcinka is regarded as an expert on financial markets and investments. He has published numerous scholarly articles in the best finance journals including four award winning articles and is frequently quoted on matters pertaining to individual investors. His monographs and articles dealing with mutual funds and institutional money management have received widespread attention in the national press (New York Times, MONEY Magazine, USA Today, Business Week, Forbes). He is the author of the Forbes Stock Market Course, a well known guide for individual investors.

Dr. Trzcinka received a Ph.D. in financial economics from Purdue University. His academic and professional assignments, among other things, have included: professorships at SUNY Buffalo and New York University; Director of the U.S. Commerce Department's MBA program in the People's Republic of China; and, Senior Economist with the Office of Economic Analysis of the United States Securities and Exchange Commission. He has been a consultant to a variety of investment organizations, including the Securities and Exchange Commission, the Virginia Retirement System, Richards & Tierney, and the New York State Attorney General's Office. Dr. Trzcinka is a member of the American Economics Association, American Finance Association and the Association for Investment Management and Research.

Industry Expertise (3)

Financial Services Education/Learning Research

Areas of Expertise (7)

Finance Financial Markets Investments Mutual Funds Money Management Financial Economics Economic Analysis

Accomplishments (5)

Award for Best Paper in Financial Institutions (professional)

2013

Midwest Finance Association Meetings.

Award for “Talk of The Town” (professional)

2013

Finance Down Under Conference.

Dean’s “honor roll” for Teaching excellence (professional)

2011

Indiana University.

Outstanding Paper (professional)

2007

Midwest Finance Association.

CIBER Award for Teaching Innovation in Global Learning (professional)

2006

University of Maryland.

Education (4)

Purdue University: Ph.D., Finance 1980

Purdue University: M.B.A., Business 1977

Purdue University: M.S., Economics 1976

Boston State College: B.A., History 1973

Media Appearances (5)

Indiana agency OKs 3 winners of Regional Cities grants

Indy Star  

2015-12-15

“Can government pick winners? Generally not,” said Charles Trzcinka, a free-market scholar and professor at Indiana University’s Kelley School of Business ...

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IU economists say '16 will feel familiar

The Journal Gazette  

2015-11-21

Charles Trzcinka, finance professor, looked at what’s ahead for Wall Street. Ellen Cutter, director of the Community Research Institute at IPFW, presented a local economic forecast ...

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Exports Key To Stock Market’s Impact On Indiana Companies

WFYI Indianapolis  online

2015-08-24

“If they think it’s permanent, it will impact investment and employment,” says Charles Trzcinka, an IU Kelley School of Business finance professor, noting that right now Indiana is experiencing an all-time high in employment at more than 2.6 million private jobs...

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Indianapolis-based hedge funds subject to market forces, too

Indianapolis Business Journal  online

2014-01-04

“As to their ability to insulate people against crashes, I would guess the investment community doesn’t see them as much as masters of the universe” anymore, said Charles Trzcinka, a finance professor at the Indiana University Kelley School of Business...

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IU economists: Subpar growth expected in '13

NWI.com  online

2012-11-09

Indiana University finance professor Charles Trzcinka said U.S. equity markets should see "below average" growth in 2013 based on improvements in critical sectors such as housing. Short-term interest rates and inflation also are expected to remain at levels that will be beneficial for business investments...

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Event Appearances (5)

What a difference A Ph.d. Makes: More than three Little Letters

American Finance Association Meetings  Philadelphia, PA

2014-01-01

Institutional Trading Horizon

Finance Down Under Conference  Melbourne, Australia

2013-03-01

Strategic Performance Allocation in Institutional Asset Management Firms: Behold the Power of Stars and Dominant Clients

American Finance Association annual meeting  San Diego, CA

2013-01-01

Financial Globalization and Risk Sharing: Welfare Effects and the Optimality of Open Markets

Darden Conference on Emerging Markets  Charlottesville, VA

2007-01-01

Horseraces of Monthly and Annual Liquidity Measures

Frontiers of Finance Conference  Bonaire

2006-01-01

Research Grants (5)

Research Grant

Mobius Group 

1998

For performance measurement of pension funds. 1993-1998.

Research Grant

Investment Company Institute 

1993

For research on Mutual Funds and Credit Allocation.

Research Grant

National Science Foundation 

1992

"Unions and Corporate Takeovers," principal investigators Brian Becker and Charles Trzcinka.

Canadian Studies Grant Program

Canadian Embassy 

1998

For "Consensus Beliefs and Superior Analyst Forecasting Ability," principal investigators Lawrence Brown and Charles Trzcinka.

Bio-Technology Equipment Fund

University at Buffalo (SUNY) 

1985

For "The Investigation of Option Prices and Short-Selling
Constraints," principal investigator Charles Trzcinka, (report by Robert Welch).

Articles (5)

Asset Management and Investment Banking Journal of Financial Economics

2013

We find evidence that conflicts of interest are pervasive in the asset management business owned by investment banks. Using data from 1990 to 2008, we compare the alphas of mutual funds, hedge funds and institutional funds operated by investment banks and non-bank conglomerates. We find that while there is no difference in performance by fund type but being owned by an investment bank reduces alphas by 46 basis points per year in our baseline model. Making lead loans increases alphas but the dispersion of fees across portfolios decreases alphas. The economic loss is $4.9 billion per year.

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Do Liquidity Measures Measure Liquidity? Journal of Financial Economics

2009

Given the key role of liquidity in finance research, identifying high quality proxies based on daily (as opposed to intraday) data would permit liquidity to be studied over relatively long time frames and across many countries. Using new measures and widely employed measures in the literature, we run horse races of annual and monthly estimates of each measure against liquidity benchmarks.

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Financial Disclosure and Bond Insurance Journal of Law and Economics

2004

Regulators typically assume that public financial disclosure is necessary for the efficient functioning of capital markets. Economists recognize that other mechanisms, such as insurance, can mitigate problems occurring when buyers have less information than sellers. We examine whether public financial disclosures and bond insurance are substitutes.

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Momentum Strategies and Financial Databases: An Investigation of Intraday Pattern in Price Momentum Journal of Financial Research

2003

How do different databases define a firm? What are the rules for listing/de-listing firms across different databases? In this paper we show that the divergence in the criteria for listing/de-listing firms between the CRSP and TAQ databases is significant enough to impact the magnitude and direction of statistical profits of momentum portfolios.

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A Panel Study of U.S. Equity Pension Fund Manager Style Performance Journal of Investing

2000

In this panel study, the authors look at the persistence of equity style performance among U.S. equity pension fund managers.

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