Charles Jones

Robert W. Lear Professor of Finance and Economics

Finance and Economics

Director

Program for Financial Studies

SB, Massachusetts Institute of Technology, 1987; PhD, University of Michigan, 1994

Joined CBS in 1997

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Charles Jones

Office
801 Uris

Phone
212-854-4109

E-mail
cj88@columbia.edu

Fax
212-662-8474

Teaching and research interest

Charles M. Jones is the Robert W. Lear Professor of Finance and Economics and the Director of the Program for Financial Studies at Columbia Business School, where he has been on the faculty since 1997. Professor Jones studies the structure of securities markets, liquidity, and trading costs, and he is particularly noted for his research on short sales, algorithmic and high-frequency trading, and the variation in liquidity over time. His published articles have won a number of best paper awards and appear in outlets ranging from the Journal of Finance to Barron's.

Professor Jones currently serves on the economic advisory committee of FINRA and has headed the economic advisory board at Nasdaq. He has also been a visiting economist at the Swedish Institute for Financial Research, the New York Fed, and the New York Stock Exchange. Before joining Columbia, Jones was a faculty member at Princeton University, and prior to doing graduate work at the University of Michigan, where he received his Ph.D. in finance in 1994, he was an investment banking analyst at Merrill Lynch.

At Columbia, Jones regularly teaches the core MBA course "Corporate Finance," and he has received the Singhvi Prize for scholarship in the classroom.

Journal articles

Time Variation in Liquidity: The Role of Market-Maker Inventories and Revenues In Journal of Finance (2010)
Author(s): Carole Comerton-Forde, Terrence Hendershott, Charles Jones, Pamela Moulton, Mark Seasholes

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Order Consolidation, Price Efficiency, and Extreme Liquidity Shocks In Journal of Financial and Quantitative Analysis (2008)
Author(s): Michael Barclay, Terrence Hendershott, Charles Jones

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Which Shorts Are Informed? In Journal of Finance (2008)
Author(s): Ekkehart Boehmer, Charles Jones, Xiaoyan Zhang

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Island Goes Dark: Transparency, Fragmentation, Liquidity Externalities, and Multimarket Regulation In Review of Financial Studies (2005)
Author(s): Terrence Hendershott, Charles Jones

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Trade-through prohibitions and market quality In Journal of Financial Markets (2005)
Author(s): Terrence Hendershott, Charles Jones

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Working Papers

Shackling Short Sellers: The 2008 Shorting Ban Research Paper Series No. 34-09 (2010)
Author(s): Ekkehart Boehmer, Charles Jones, Xiaoyan Zhang

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Unshackling Short Sellers: The Repeal of the Uptick Rule Working Paper (2008)
Author(s): Ekkehart Boehmer, Charles Jones, Xiaoyan Zhang

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Shorting Restrictions: Revisiting the 1930s Working Paper (2008)
Author(s): Charles Jones

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The Price of Diversifiable Risk in Venture Capital and Private Equity (2004)
Author(s): Charles Jones

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A Century of Stock Market Liquidity and Trading Costs Working Paper (2002)
Author(s): Charles Jones

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Forthcoming Articles

Shorting Restrictions: Revisiting the 1930s In The Financial Review (2011)
Author(s): Charles Jones

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Does Algorithmic Trading Improve Liquidity? In Journal of Finance (2007)
Author(s): Terrence Hendershott, Charles Jones, Albert Menkveld

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