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Travis Sapp

Title: Director, Master of Finance Program / Associate Professor of Finance
Department: Finance

Office: 3362 Gerdin Business Building
Phone number: (515) 294-2717

Academic History

  • PhD, Finance, University of Iowa, 2001
  • MS, Economics, Iowa State University, 1995
  • BS, Economics, Iowa State University, 1994


  • Asset Pricing
  • Mutual Funds
  • Initial Public Offerings
  • Seasoned Equity Offerings
  • Reverse Mergers
  • Private Equity
  • Risk Management

Selected Publications

  • Zhaoxin Lin, Travis Sapp, Jackie Rees Ulmer, and Rahul Parsa "Insider Trading Ahead of Cyber Breach Announcements", Journal of Financial Markets, Forthcoming.
  • Travis Sapp (2016) "Efficient Estimation of Distributional Tail Shape and the Extremal Index with Applications to Risk Management ", Journal of Mathematical Finance, 6 (4):626-659.
  • Yianni Floros and Travis Sapp (2012) "Why Do Firms Issue Private Equity Repeatedly? On the Motives and Information Content of Multiple PIPE Offerings", Journal of Banking and Finance, 36:3469-3481.
  • Yianni Floros and Travis Sapp (2011) "Shell Games: On the Value of Shell Companies ", Journal of Corporate Finance, 17:850-867.
  • Rick Carter, Rick Dark, Yianni Floros, and Travis Sapp (2011) "Characterizing the Risk of IPO Long-Run Returns: The Impact of Momentum, Liquidity, Skewness, and Investment ", Financial Management, 40:1067-1086.
  • Travis Sapp (2011) "The 52-Week High, Momentum, and Predicting Mutual Fund Returns. ", Review of Quantitative Finance and Accounting, 37:149-179.
  • Rick Carter, Rick Dark, and Travis Sapp (2010) "Underwriter Reputation and IPO Issuer Alignment 1981-2005 ", Quarterly Review of Economics and Finance , 50:443-455.
  • Travis Sapp (2009) "Estimating Continuous-Time Stochastic Volatility Models of the Short-Term Interest Rate: A Comparison of the Generalized Method of Moments and the Kalman Filter", Review of Quantitative Finance and Accounting , 33:303-326.
  • Travis Sapp and Sterling Yan (2008) "Security Concentration and Active Fund Management: Do Focused Funds Offer Superior Performance?", Financial Review, 43:27-49.
  • Geoff Friesen and Travis Sapp (2007) "Mutual Fund Flows and Investor Returns: An Empirical Examination of Fund Investor Timing Ability", Journal of Banking and Finance , 31:2796-2816.
  • Travis Sapp and Ashish Tiwari (2006) "Stock Return Momentum and Investor Fund Choice", Journal of Investment Management , 4 (3):73-85.
  • Gary Koppenhaver and Travis Sapp (2005) "Money Funds or Markets? Valuing Intermediary Services ", Journal of Financial Services Research , 27:51-76.
  • Travis Sapp and Ashish Tiwari (2004) "Does Stock Return Momentum Explain the Smart Money Effect? ", Journal of Finance , 59:2605-2622.
  • Sterling Yan and Travis Sapp (2003) "The Nasdaq-Amex Merger, Nasdaq Reforms, and the Liquidity of Small Firms", Journal of Financial Research, 26:225-242.

Work in process

  • Ilker Karaca and Travis Sapp "Capacity Overhang and Corporate Disinvestment Decisions",
  • Truong “Chuck” Duong, Travis Sapp "Insider Trading Ahead of Hedge Fund 13D Filings ",
  • Zhaoxin Lin, Rahul Parsa, Travis Sapp, and Jackie Rees Ulmer "Pricing Cyber Security Insurance: A Copula Model Using an Objective, Verifiable, Loss Measure ", Link to Paper