Richard S. Warr's Personal Biography

Richard Warr received his Ph.D in Finance from the University of Florida
in 1998. Prior to coming to North Carolina State he taught at Kansas
State University.  His research focuses on information transmission in
markets, equity valuation, short selling, capital structure, risk
management and market microstructure.  His publications have appeared in
such journals as the Journal of Financial and Quantitative Analysis,
Financial Management, the Journal of Corporate Finance, the Journal of
Financial Intermediation, the Journal of Accounting Auditing and
Finance.  His teaching is in the area of investments, portfolio
management and security analysis.

Research Specialties

Equity valuation, market microstructure, investments.

Selected Research Publications

• Warr, R. S., Elliott, W. B., Koeter-Kant, J. (2007). A Valuation-Based Test of Market-Timing. Journal of Corporate Finance, 13, 112-128.
• Warr, R. S., Danielsen, B. R., Van Ness, R. A. (2007). Audit Fees, Market Microstructure and Informational Transparency. Journal of Business Finance and Accounting, 34, 202-221.
• “The Impact of Market-Maker Concentration on Adverse Selection Costs for NASDAQ Stocks” Bonnie F. Van Ness, Robert A. Van Ness and Richard S. Warr, Journal of Financial Research, 2005, Vol. 28, No. 3, pp. 461-485.
• “NASDAQ Trading and Trading Costs: 1993-2002,” Bonnie F. Van Ness, Robert A. Van Ness and Richard S. Warr, The Financial Review, 2005, Vol. 40, pp. 281-304.
• “An Empirical Study of Inflation Distortions to EVA” Richard S. Warr, Journal of Economics and Business, 2005, Vol. 57, No. 2, pp. 119-137.
• “The Impact of the Introduction of Index Securities on the Underlying Stocks: The Case of the Diamonds and the Dow 30,” Bonnie F. Van Ness, Robert A. Van Ness and Richard S. Warr, Advances in Quantitative Analysis of Finance and Accounting, 2005, Vol. 2.
• “A Comparison of NYSE and Regional Trading (1993-2002),” Bonnie F. Van Ness, Robert A. Van Ness and Richard S. Warr, Stock Exchanges, IPOs and Mutual Funds, E. Klein, Editor. Nova Science Publishers, Inc., Hauppauge, NY, 2005.
• “Price Pressure on the NYSE and Nasdaq: Evidence from S&P 500 Index Changes” William Elliott and Richard Warr, Financial Management, Autumn 2003, 85-99.
• “Is the adverse selection component really higher on the NYSE/Amex than on the Nasdaq?” Bonnie Van Ness, Robert Van Ness and Richard S. Warr Journal of Business, Finance & Accounting, v29,5 & 6, p807-824.
• “The Decline of Inflation and the Bull Market of 1982 to 1999” Jay R. Ritter and Richard S. Warr. Journal of Financial and Quantitative Analysis, 2002, v37, 1, p29-61
• “How well do adverse selection models measure adverse selection?” Bonnie Van Ness, Robert Van Ness and Richard S. Warr Financial Management, 2001, v30, 3, p77-98