Profile for Adam Stivers

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Adam Stivers

Associate Professor
University of Wisconsin-La Crosse

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Specialty area(s)

Investments, asset pricing, behavioral finance

Brief biography

Starting in Spring 2023, I am also serving as co-director of the Menard Family Initiative.

Current courses at UWL

FIN 475: Investment Analysis and Portfolio Management


McMaster University, PhD Finance

West Virginia University, MA Economics

West Virginia University, BS Economics


Teaching history

FIN 380: Principles of Investments

FIN 407: Advanced Financial Planning

FIN 475: Investment Analysis and Portfolio Management

Research and publishing

  • "Do Economic Forecasters Believe the Stock Market is Efficient? Evidence from Germany," Applied Finance Letters, 2021, 10, 40-47.
  • "A Comparison of Forecasting Performance and Systematic Risk Under Different Political Environments," American Journal of Finance and Accounting, 2021, 6(3/4), 266-283.
  • "Behavior when the Chips are Down: An Experimental Study of Wealth Effects and Exchange Media" Journal of Behavioral and Experimental Finance, 2020, 27, 100323.
  • "Equity Premium Predictions with Many Predictors: A Risk-Based Explanation of the Size and Value Factors” Journal of Empirical Finance, 2018, 45, 126-140.
  • “Forecasting Returns with Fundamentals-Removed Investor Sentiment” International Journal of Financial Studies, 2015, 3, 319-341.
  • "Assessment within a Student-Managed Investment Fund," Accepted at Journal of Financial Education.
  • "An Experimental Investigation of the “Follow Own Signal” Decision Rule under Increased Information Uncertainty," Accepted at Review of Behavioral Finance.
  • "Efficient Factor Selection: Explaining Risk and Mean Returns Jointly," Revise and Resubmit at Journal of Finance.
  • "Bitcoin’ Stocks: What Drives Stock Performance after a Blockchain or Cryptocurrency Disclosure?," Revise and Resubmit at International Review of Financial Analysis.