Rabih Moussawi

Associate Professor, Finance

Villanova University

Department of Finance & Real Estate

Bartley Hall Rm 2051

800 E Lancaster Avenue

Villanova, PA 19085

Email: rabih.moussawi@villanova.edu

Phone: (610) 519-8544

Homepage: http://www.homepage.villanova.edu/rabih.moussawi

SSRN: http://www.ssrn.com/author=491241

Google Scholar: https://scholar.google.com/citations?user=Mleyv4QAAAAJ&hl

Education:

  • Ph.D., Finance, The University of Texas at Dallas

  • MS, The University of Texas at Dallas

  • MBA, American University of Beirut

  • B.A. in Economics, with Distinction, American University of Beirut

Working Papers:

Publications:

Honors and Awards:

  • The Rising Star Media Award, Villanova School of Business, May 2021.

  • Editors’ Top Three Paper Award, Financial Management, Summer 2020.

  • Best Paper Award, 2019, The European Financial Management Association, Portugal, June 2019.

  • The McDonough Family Faculty Research Award, Villanova School of Business, May 2019.

  • The Financial Review Editors’ Choice Best Paper Award for 2018, April 2019.

  • Villanova University’s Scholarly Achievement Award, Villanova University, March 2019.

  • The Vincent B. DiDomenico Jr. ’88 Assistant Professor Research Award, Villanova School of Business, May 2017 – June 2019.

  • VSB Teaching Innovation Grant, Villanova School of Business, May 2017.

  • Best Paper Award, 2017 Research Excellence Awards, Center for Global Leadership, Villanova University, February 2017.

  • Best Paper Award, 2016, India Finance Association Conference, Emerald – IFC 2016 Best Paper, Indian Institute of Management, Ahmedabad, India, December 2016.

  • The ETF Research Academy Grant, 2016, Paris-Dauphine House of Finance and Lyxor Asset Management, Paris, France, June 2016.

  • Best Paper Award, 2016 Research Excellence Awards, Center for Global Leadership, Villanova University, February 2016.

  • Best Paper Award, 20th Annual Multinational Finance Society Conference, Izmir, Turkey, July 2013.

  • Outstanding Ph.D. Student Teacher of the Year, The University of Texas at Dallas, School of Management, 2004.

Research Interests:

  • ETFs; Hedge Funds; Institutional Investors; Investments; Corporate Finance; Corporate Governance

Courses Taught:

  • FIN 2323 - Equity Markets and Valuation

  • MSF 8645 - Quant Finance

  • MSA 8310 - Advanced Business Applications: Analytics in Fintech & Financial Textual Analysis

  • VSB 2121 - Special Topics in Finance: Undergraduate Finance Research Seminar

In the News Media:

  • Matt Levine, Investors Will Buy Anything Now: Also bank buybacks, Treasury futures and ETF voting,” Bloomberg, June 28, 2021.

  • Oguzhan Karakas, Phantom of the Opera: ETF Shorting and Shareholder Voting,” Harvard Law School Forum on Corporate Governance, June 27, 2021.

  • Ginger Szala, Study Finding Target Date Funds 'Exploit' Investors,ThinkAdvisor.com, June 22, 2021

  • John Rekenthaler, “The Latest Attack on Target-Date Funds,” Morningstar, May 20, 2021

  • John Sullivan, “TDFs Know You’re Not Paying Attention, So They Underperform,” 401K Specialist, May 5, 2021

  • Ben Hernandez, “A Higher Capital Gains Tax Could Move More Investors to ETFs,” ETF Trends, May 5, 2021

  • Mark Hulbert, “Why you should worry about the flood of new cash into U.S. stock funds,” Market Watch, May 4, 2021

  • Lee Barney, “Academics Say TDF Managers Take Advantage of Low-Attention Investors,” Plan Sponsor, May 4, 2021

  • Tommi Johnsen, “Competition for Attention in the ETF Space,” Alpha Architect, May 3, 2021

  • Claire Ballentine and Katherine Greifeld, “Rich Americans Fleeing Tax Hikes May Turbocharge Shift to ETFs,” Bloomberg, May 2, 2021

  • Massimo Massa, Rabih Moussawi, and Andrei Simonov, “The Disturbing Conflicts of Interest in Target Date Funds,” Kiplinger, April 30, 2021

  • Andreas Beys, “ETFs in den USA profitieren vor allem von diesem Steuervorteil,” Das Investment, March 29, 2021

  • Massimo Massa, Rabih Moussawi, and Andrei Simonov, “Target-Date Funds Exploit Their Investors’ Long Time Horizons. Here’s How,” Institutional Investors, March 23, 2021

  • Ryan Krystopowicz, “The So-Called Certainties in Life Seem A Lot Like Mutual Funds,” WisdomTree and Seeking Alpha, March 19, 2021

  • Dave Baxter, “The drawbacks of thematic ETFs,” Investors’ Chronicle, February 23, 2021

  • Tom Eckett, “European ETF market shows tax not main factor driving industry's growth,” ETF Stream, February 23, 2021

  • Ben Hernandez, “Tax Advantages Are Driving Investors from Mutual Funds to ETFs,” ETF Trends, February 17, 2021

  • Steve Johnson, "US ETF investors mainly motivated by tax loophole, study shows," Financial Times, February 15, 2021

  • Mark Hulbert, "New ETFs, Forced to Chase Trends, Shorten Their Own Lives," The Wall Street Journal, February 5, 2021

  • Geoff Colvin, “New Research finds sharply focused ETFs are not good for investors,” Fortune, January 31, 2021

  • Max Chen, “Thematic ETFs Could Expose Investors to Greater Risks,” ETF Trends, January 28, 2021

  • Mike Dolan, “Bubble-wary markets eye ETF crush in tech and crypto,” Reuters, January 27, 2021

  • Emma Boyde, "Thematic ETFs can deliver significant losses, academics find," Financial Times, January 26, 2021

  • Yakob Peterseil, "Day-Trader Frenzy for Trendy Stocks Is Defying Decades of Losses," Bloomberg, January 21, 2021

  • John Anderer, “Avoid ETFs: Finance experts warn against popular investment fund: You are likely to lose money,” Study Finds, January 21, 2021

  • Jason Zweig, “The Story Behind the Market’s Hottest Funds,” The Wall Street Journal, January 15, 2021

  • Jeff Grabmeier, “Want a hot stock tip? Avoid this type of investment fund,” Ohio State News, January 15, 2021

  • Chris Flood, "Top 10 Institutional Investors Fuel Market Volatility," Financial Times, August 8, 2020

  • Simon Constable, "In a Down Market, ETFs Could Make Things Even Worse," The Wall Street Journal, March 3, 2019

  • Fixed Income Market Structure Advisory Committee - ETFs and Bond Funds Subcommittee , U.S. Securities and Exchange Commission, September 17, 2018. Preliminary SEC Recommendations are available here

  • Bob Eccles, "Concentration in the Asset Management Industry: Implications for Corporate Engagement," Forbes, April 17, 2019

  • Joseph DiStefano, “Will ETFs, their prices dependent on hedge fund billions, stay aligned in the next market panic?” The Inquirer/Philly.com, November 28, 2018

  • Ideas for Leaders, “Wrong Incentives Push CEO to Focus on the Short-term,” July 31, 2018

  • Robert Pozen and Theresa Hamacher, "Has the death knell of active management been rung too soon?" Financial Times, February 1, 2015

  • Jay Fitzgerald, "Do ETFs Increase Stock Volatility? ETF ownership of stocks leads to higher volatility and turnover," NBER Digest, National Bureau of Economic Research, September Issue, September 14, 2014

  • PBS Newshour, "Why is Wall Street becoming more bipolar?" September 12, 2014

  • Mike Dolan, "A volatile love affair with exchange funds and indexes," Reuters, April 30, 2014

  • Izabella Kaminska, "When ETFs make things more volatile," Financial Times, April 28, 2014

  • Larry Swedroe, “Side-by-side arrangements: An unequal alliance,” CBS MoneyWatch, June 4, 2013

  • Knowledge@Wharton, “Optimizing Working Capital: How to Deploy Liquidity and Create Value,” GE Capital, Americas, Capital Perspectives, May 2013

  • BizEd, “Some Hedge Funds Fudge the Numbers,” BizEd, May 2013

  • GE Capital and Knowledge@Wharton, “Improving Working Capital Management to Free Up Cash,” GE Capital, Americas, January 2013

  • Jason Zweig and Tom McGinty, “Fund Managers Lift Results With Timely Trading Sprees,” The Wall Street Journal, December 6, 2012

  • Rick Adamczak, “Study reveals some hedge funds inflate stock prices to impress investors,” Daily Reporter, December 11, 2012

  • Daniel Akst, “Do Hedge Funds Manipulate Stock Prices?” The Wall Street Journal, December 10, 2012

  • Caitlyn Grudzinski, “ETF Arbitrage May Be Driving Market Volatility,” TheStreet.com, August 2, 2012

  • Jason Zweig, “The Intelligent Investor: Now That's Performance Art,” The Wall Street Journal, December 24, 2011

  • Insider Monkey, “Do hedge funds manipulate stock prices?” Insider Monkey, June 2011

  • AllAboutAlpha.com, “Hedge funds and “stock manipulation”: Perpetrators, accomplices or just in the wrong place at the wrong time (again)?” AllAboutAlpha.com, March 2, 2011

  • Hannah Glover, “Conflicts in Side-by-Side Management: Mutual Funds Suffer When Managers Also Run Hedge Funds,” Money Management Executive, March 2007

  • Jack Willoughby, “The Perils of Favoritism,” Barron’s, March 19, 2007

  • Lawrence Strauss, “New Study on Old Controversy,” Barron’s, February 19, 2007

  • Michael Shari, “Side-by-Side Surprise,” Institutional Investor, February 7, 2007

  • John Wasik, “Dual Fund Management Can Pose Conflict,” Bloomberg, November 27, 2006

  • Alan Lavine, “Sub-Advisors Are in the House,” Financial Advisor, November 2006

  • Eric Baum, “Side-by-side funds manage around conflict,” Absolute Return Magazine, October 31, 2006

  • Michael Bauch, “Side-By-Side Management May Favor Hedge Over Mutual Funds,” Investopedia, September 18, 2006

  • Christopher Small, "Motivating Innovation in Newly Public Firms, Harvard Law School Forum on Corporate Governance and Financial Regulation," Wednesday February 12, 2014

  • Aaron Dolgoff and Tiago Duarte-Silva, "Fund Performance Indicators The SEC May Be Watching," Law360, Charles River Associates, May 02, 2014

  • Matt Palmquist, "Pushing CEOs to Be Bold after the IPO, Strategy and Business," PwC Strategy& Inc, September 9, 2014

  • Jackie Noblett, “Fresh evidence links ETFs to stock volatility,” Ignites magazine, and Financial Times, May 7, 2014

  • Kristina Zucchi, “How ETF Arbitrage Works,” Investopedia, March 26, 2015

  • Eleanor Laise, “Is Your Fund Manager Two-Timing You?” The Wall Street Journal, November 1, 2006

  • Mark Hulbert, “Which Fund Does an Advisor Love More,” The New York Times, July 9, 2006