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פרופ' מחמוד קעדאן

 ראש תוכנית ה-MBA בניהול אסטרטגי של משאבי אנוש (מיוני 2019)

 תחומי מחקר: מימון

 דואר אלקטרוני: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 טלפון: 04-8249584

 משרד: בניין רבין, חדר 9134

 שעות קבלה: בתיאום מראש




פרופיל חוקר בגוגל סקולר

רואה חשבון פרופסור מחמוד קעדאן הוא בעל תואר ראשון בכלכלה (2000) מאוניברסיטת בן גוריון, ותואר שני בכלכלה מהפקולטה להנדסת תעשה וניהול בטכניון (2004), חשבונאות מאוניברסיטת חיפה (2005), תואר דוקטור במימון (2011) מאוניברסיטת חיפה, ופוסט דוקטורט באוניברסיטת קולומביה בניו-יורק (2012-2013). תחומי המחקר שלו מתמקדים בהשקעות, תמחור נכסים, מימון התנהגותי ושווקים פיננסים. תחומי ההוראה העיקריים שלו הם שוקי אופציות, ניהול פיננסי, השקעות, אקונומטריקה פיננסית, ואקונומטריקה למתקדמים. פרופ' קעדאן זכה ב"פרס יקיר" המוענק לחוקרים מצטיינים בפקולטה למדעי חברה (2020), וזכה לאורך שנים בתואר המרצה המצטיין.

Short Bio

Mahmoud Qadan is Associate Professor of Finance in the Department of Business Administration at the University of Haifa. His research interests are in the areas of asset pricing, the microstructure of capital markets, financial econometrics, and behavioral finance. Dr. Qadan has also won prizes for his teaching and research

Education

  • BA. in Economics, Ben-Gurion University (2000)
  • MSc. in Economics, the Technion (2004)
  • Certified Public Accountant, University of Haifa (2005)
  • PhD. in Finance, University of Haifa (2011)
  • Post Doc., Columbia University, New York (2012-2013)

Teaching

Prof. Qadan teaches the following courses:

  • Advanced Econometrics
  • Corporate Finance
  • Financial Accounting
  • Financial Econometrics
  • Financial Management
  • Investments
  • Options Markets
  • Managerial Economics
  • Financial Statement Analysis

Reviewer for

  • Eastern Finance Association
  • Energy Economics
  • European Journal of Finance
  • Finance Research Letters
  • International Review of Economics & Finance
  • Journal of Behavioral Finance
  • Journal of Commodity Markets
  • Journal of Economic Behavior & Organization
  • Journal of Economics and Business
  • Journal of Behavioral and Experimental Economics
  • Journal of Economic Psychology
  • Journal of Corporate Finance
  • North American Journal of Economics and Finance
  • Research in International Business and Finance
  • Review of Accounting and Finance
  • Applied Economics
  • PloS One
  • Quarterly Review of Economics and Finance
  • Journal of International Financial Markets, Institutions & Money

Publications

  1. Ayoub, M. & Qadan, M. (2025). Financial Ambiguity and the Flow of Public Information. Finance Research Letters. Forthcoming
  2. Ayoub, M. & Qadan, M. (2024). Financial Ambiguity and Oil Prices. Financial Innovation, 10, 137, 1-23.
  3. Bayaa, Y., & Qadan, M. (2024). Uncertainty in Interest Rates and the U.S. Bond Curve Shape, Eurasian Economic Review, 1-23.
  4. Bayaa, Y., & Qadan, M. (2024). The shape of the Treasury yield curve and commodity prices. International Review of Financial Analysis, 103311.‏
  5. Ayoub, M., & Qadan, M. (2024). Ambiguity and Risk in the Oil Market. Economic Modelling, 132, 106651.
  6. Qadan, M. & Cohen, G. (2023). Uncertainty about Interest Rates and Crude Oil Prices. Financial Innovation, 10(9), 1-14.
  7. Ayoub, M., & Qadan, M. (2023). Does Supporting Ukraine Pay Well? The Performance of Companies that Suspended Their Business in Russia. Research in International Business and Finance, 66, 102071.
  8. Qadan, M., Shuval, K., & David, O. (2023). Uncertainty about Interest Rates and the Real Economy. North American Journal of Economics and Finance, 101978.‏
  9. Shuval, K., Drop., J…, Qadan, M. (2022). Pandemic related Life Events and Physical Inactivity during COVID-19 among Israeli Adults. Journal of Physical Activity & Health, 20(1), 45-49.
  10. Aharon, D.Y. & Qadan, M. (2022). Infection, Invasion, and Inflation: Recent Lessons. Finance Research Letters, 50, 103307.
  11. Qadan, M., & Jacob, M. (2022). The Value Premium and Investors' Appetite for Risk. International Review of Economics & Finance, 82, 194-219.
  12. Nisani, D., Qadan, M., Shelef, A. (2022). Risk and Uncertainty at the Outbreak of the COVID-19 Pandemic. Sustainability, 14 (14), 1-12.
  13. Qadan, M. Nisani, D. & Eichel, R. (2022). Irregularities in Forward-Looking Volatility. Quarterly Review of Economics and Finance, 86, 489-501.
  14. Idilbi-Bayaa, Y. & Qadan, M. (2022). Tell Me Why I Do not Like Mondays. Mathematics, 10(11), 1-22.
  15. Qadan, M., & Idilbi-Bayaa, Y. (2022). Presidential Honeymoons, Political Cycles and the commodity Market. Resources Policy, 77, 102631.
  16. Idilbi-Bayaa, Y., & Qadan, M. (2022). What the current yield curve says, and what the future prices of energy do‏. Resources Policy, 75, 102494.
  17. Idilbi-Bayaa, Y., & Qadan, M. (2021). Forecasting Commodity Prices Using the Term Structure. Journal of Risk and Financial Management, 14(12), 585.‏
  18. Aharon, D. Y., Jacobi, A., Cohen, E., Tzur, J., & Qadan, M. (2021). COVID-19, government measures and hospitality industry performance. PloS one, 16(8), e0255819.‏
  19. Cohen, G. and Qadan, M. The Information Conveyed in SPAC Offering. Entropy, 23(9), 1215.
  20. Qadan, M. and Shuval, K. (2021). Variance Risk and the Idiosyncratic Volatility Puzzle. Finance Research Letters, 45, 102176.
  21. Shuval, K., Stoklosa, M., Nargis, N., Drope, J., Tzafrir, S., Keinan-Boker, L., Defina & Qadan, M. (2021). Cigarette Prices and Smoking Behavior in Israel: Findings from a National Study of Adults (2002–2017). International Journal of Environmental Research and Public Health, 18(16), 8367.‏
  22. Qadan, M., Aharon, D. Y., & Eichel, R. (2021). Seasonal and Calendar Effects and the Price Efficiency of Cryptocurrencies. Finance Research Letters, 102354.‏
  23. Reiter, L., Qadan, M. and Yagil., J. (2021). Financial Advice: Who Exactly Follows It? Research in Economics, 75(3), 244-258.
  24. Shuval, K., Marroquin, E. M., Li, Q., Knell, G., Gabriel, K. P., Drope, J., Yaroch, A., Chartier, K. Fennis, B. & Qadan, M. (2021). Long-term weight loss success and the health behaviours of adults in the USA: findings from a nationally representative cross-sectional study. BMJ open, 11(7), e047743.‏
  25. Reiter, L., Qadan, M. and Yagil., J. (2021). Investors' personal characteristics and trading decisions under distressed market conditions. Borsa Istanbul Review, 22(2), 240-247.
  26. Qadan, M., & Idilbi-Bayaa, Y. (2021). The day-of-the-week-effect on the volatility of commodities. Resources Policy, 71, 101980.‏
  27. Reiter-Gavish, L., Qadan, M., & Yagil, J. (2021). Financial Advice: Who Exactly Follows It?. Research in Economics, 75(3), 244-258.‏
  28. Aharon, D. Y., & Qadan, M. (2020). When do Retail Investors Pay Attentions to their Trading Platforms? North American Journal of Economic and Finance, 53, 101209.
  29. Qadan, M., Aharon, D. Y., & Cohen, G. (2020). Everybody likes shopping, including the US capital market. Physica A: Statistical Mechanics and its Applications, 551, 124173.
  30. Qadan, M. & Idilbi, Y. (2020). Risk Appetite and Oil Prices. Energy Economics, 85, 104595.
  31. Reiter, L., Qadan, M. & Yagil, J. (2020). Net Buyers of Attention-Grabbing Stocks: Who Exactly Are They?. Journal of Behavioral Finance, 22(1), 26-45.
  32. Qadan, M. & Zoua'bi, M. (2019). Financial Attention and the Demand for Information. Journal of Behavioral and Experimental Economics, 82, 101450.
  33. Qadan, M. (2019). Risk Appetite, Idiosyncratic Volatility and Expected Returns. International Review of Financial Analysis, 65, 101372.
  34. Qadan, M., Aharon, D.Y., and Eichel, R. (2019). Seasonal Patterns and Calendar Anomalies in the Commodity Market for Natural Resources. Resources Policy, 63, 101435.
  35. Qadan, M. (2019). Risk Appetite and the Prices of Precious Metals. Resources Policy, 62, 136-153.
  36. Qadan, M. & Aharon, D. (2019). Can Investor Sentiment Predict the Size Premium? International Review of Financial Analysis, 63, 10-26.
  37. Qadan, M. & Aharon, D. (2019). The Length of the Trading Day and Trading Volume. Eurasian Business Review, 9(2), 137-156.
  38. Kliger, D. & Qadan, M. (2019). Psychological Mechanisms of Honesty in Real Life Financial Decisions. Journal of Behavioral and Experimental Economics, 78, 121-137.
  39. Aharon, D. & Qadan, M. (2019). The Size Effect is Alive and Well and Hiding behind Calendar Anomalies. Journal of Portfolio Management, 45 (6).
  40. Aharon, D. & Qadan, M. (2019). Bitcoin and the Day-of-the-Week Effect. Finance Research Letters, 31.
  41. Qadan, M. & Aharon, D. (2018). How Much Happiness Can We find in the US Fear Index? Finance Research Letters, 30, 246-258.
  42. Aharon, D. & Qadan, M. (2018). What Drives the Demand for Information in the Commodity Market? Resources Policy, 59, 532-543.
  43. Qadan, M. (2018). Switches in Price Discovery: Are U.S. Traders More Qualified in Making Valuations? North American Journal of Economic and Finance, 44, 221-234.
  44. Qadan, M., & Nama, H. (2018). Investor Sentiment and the Price of Oil. Energy Economics, 69, 42-58.
  45. Qadan, M., & Kliger, D. (2016). The Short Trading Day Anomaly. Journal of Empirical Finance, 38, 62-80.‏
  46. Qadan, M., & Yagil, J. (2015). Are International Real and Financial Co-movements Characterized by Asymmetric Co-integration? Review of Accounting and Finance, 14 (4), 398-412.
  47. Qadan, M., & Yagil, J. (2015). International Co-movement of Real and Financial Economic Variables. Applied Economics, 47, 3347-3366.
  48. Qadan, M., & Ben-Zion, U. (2014). The Role of Demographic and Psychological Differences in Future Financial and Economic Expectations. International Journal of Economics and Finance, 6, 37-45.
  49. Levy, T., Qadan, M. & Yagil, J. (2013). Predicting the Limit-Hit Frequency in Futures Contracts. International Review of Financial Analysis, 30, 141-148.
  50. Qadan, M. (2013). The Impact of the Day-of-the-Week on the VIX Fear Gauge. International Journal of Economic Perspectives, 7, 24-31.
  51. Qadan, M., & Yagil, J. (2012). On the Dynamics of Tracking Indices by Exchange Traded Funds in the Presence of High Volatility. Managerial Finance, 9 (38), 804-832.
  52. Qadan, M. & Yagil, J. (2011). Main or Satellite? Testing Causality in Mean and Variance for Dually Listed Stocks. International Journal of Finance & Economics, 17, 279-289.
  53. Qadan, M. & Yagil J. (2011). Fear Sentiments and the Gold Price: Testing Causality in Mean and in Variance. Applied Economics Letters, 19(4), 363-366.

Working Papers

  • Market Panic, Information Flow and Price Discovery
  • Stock-Bond Co-movements using Markov Switching Regimes
  • Estimating the performance of Mutual and Pension Funds
  • Systematic Risk, Idiosyncratic Risk and Spillovers in Financial Markets
  • Decomposing the Looking-Forward Volatility in the Commodity Market
  • Re-Examining the interplay between the Leading Indicators and the Financial Market

Conference Presentations

  • 2010, June – Financial Management Association, Barcelona, Spain
  • 2011, April – Eastern Finance Association, Savanna, Georgia, USA
  • 2011, September – Westminster College, New Wilmington, Pennsylvania, USA
  • 2012, June – Financial Management Association, Krakow, Poland
  • 2013, March – Midwest Finance Association, Chicago, Illinois, USA
  • 2013, May – Eastern Economic Association, New York, New York, USA
  • 2014, June – Financial Engineering and Banking Society, Surrey University. UK
  • 2014, December – iPag Business School, Paris, France
  • 2015, February – Eastern Economic Association, New York, New York, USA
  • 2015, April –University of Haifa, Haifa, Israel
  • 2015, October – Western Galilee College, Acre, Israel
  • 2016, April – Swiss Society for Financial Research, Zurich, Switzerland
  • 2017, February – Eastern Economic Association, New York, New York, USA
  • 2017, February – Dep. of Business Administration, University of Haifa, Haifa, Israel
  • 2017, April – Western Galilee College, Acre, Israel
  • 2017, April – Eastern Finance Association, Jacksonville, Florida, USA
  • 2017, Aug – The 26th Subjective Probability, Utility, and Decision-Making Conference, Technion
  • 2017, Dec –The 10th European Business Research Conference, Rome, Italy
  • 2018, June – The 25th Multi Finance Society, Budapest, Hungary
  • 2018, Sep. – Research in Behavioral Finance Conference. Vrije Universiteit, Amsterdam, Netherland
  • 2018, Dec. – 49th International Business Research Conference. Tokyo, Japan
  • 2019, July - 26th Annual Conference of the Multinational Finance Society, Hebrew Univ., Israel
  • 2020, February – 46th Annual Eastern Economic Association, Boston, MA, USA
  • 2021, May – 37th French Finance Association, Paris, France (Online)
  • 2021, Dec. World Finance & Banking Symposium, Budapest, Hungary (Online)
  • 2023, Feb. Eastern Finance Association, New York, USA
  • 2023, Dec. Annual Conference of British Accounting and Finance Association, Dubai, UAE
  • 2024, Sep. Università Cattolica del Sacro Cuore, Milan, Italy
  • 2025, Feb. 51st Annual Eastern Economic Association, New York, NY, USA

Publications in Newspapers: [Hebrew]

  1. 6 Reasons Driving the high Markets Volatility. Globes – March 18, 2020. https://www.globes.co.il/news/article.aspx?did=1001322359
  2. Religiosity and Liquidity: Trading on Holiday. Globes – October 08, 2019. https://www.globes.co.il/news/article.aspx?did=1001302925
  3. Government Deficit: The Good, the bad and the Ugly. Globes – August 04, 2019. https://www.globes.co.il/news/article.aspx?did=1001296005
  4. On the link between Sport Outcomes and Equity Prices. Calcalist – June 18, 2018. https://www.calcalist.co.il/local/articles/0,7340,L-3740285,00.html.
  5. The Ramadan Effect. Investors are Hungry for Returns during Ramadan. TheMarker – June 16, 2013. http://www.themarker.com/markets/1.2047106.
  6. The January Barometer. TheMarker – January 29, 2015. http://www.themarker.com/markets/1.2552462
  7. Will the Capital Market Rise if Netanyahu is Elected Again? TheMarker – December 2, 2012. http://www.themarker.com/markets/1.1877809
  8. The Psychology of Fear: Do the “Days of Awe” Affect Capital Markets? TheMarker - October 2, 2012. http://www.themarker.com/markets/1.1834526.
  9. Short Trading Days are Profitable for Traders. TheMarker - April 6, 2012. http://www.themarker.com/markets/1.1681054.

Master and Ph.D. Supervision

  • Shani Gold (M.A.) – “Predicting Size Premium with Rational and Irrational Factors”. January 2016
  • Hazar Nama (M.A.) – “Investor Sentiment and the price of Oil”. January 2017
  • Maher Zoabi (M.A.) – “The Demand for Information –international Perspective”. August 2017
  • Nir Chen (M.A.) – “Idiosyncratic Volatility, VIX and Expected Returns”. April 2017
  • Yasmeen Idilbi. (M.A.) –"Risk appetite and Oil Prices". Dec. 2018
  • Samar Zaher (M.A.) – Stock-Bond Co-movements using Markov Switching Regimes. January 2019
  • Maram Jacob (M.Sc.) – Predicting the time-varying Value Premium. February 2021
  • Moria Yitzhaki (M.A.) – Seasonality in the Variance. March 2021
  • Mohammed Haj-Yahia (M.A.) – Daily Connection between Oil Prices and the Yield Curve. May 2021
  • Liron Reiter. (Ph.D.) – In Search of Financial Advice. April 2021
  • Hassoun Hassoun (M.A.) – Seasonal Affective Disorder and the Cross-Section Returns. Nov. 2021
  • Saleem Shehab (M.B.A) – Turn-of-the-Month Effect – Fresh Outlook. Dec. 2021
  • Kerem Shuval (Ph.D.) - A Health Economic & Behavioral Perspective to Lifestyle Behaviors in Israel and the USA. Feb. 2022
  • Yasmeen Idilbi (Ph.D.) – Forecasting Commodity Prices Using the Bond Term Structure. Feb. 2024
  • Meytal Rotblit (M.Sc.) – Interest Rate Uncertainty and the Real Estate Industry. Dec. 2024
  • Mahmoud Ayoub (Ph.D.) – Risk and Ambiguity in Financial Markets. April 2025
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צור קשר

bschool@hevra.haifa.ac.il

בניין רבין קומה 9, אוניברסיטת חיפה,
שדרות אבא חושי 199, הר הכרמל,
ת"ד 3338, חיפה 3103301