William G. Karnes Professor of Finance
M.S. Business Administration, Cornell University, 1976, 1974
M.B.A., B.A. Economics and Statistics, Tel Aviv University, 1972,
the University of Illinois since 1987. Visiting professor of finance
at Cornell University, 1985-87. Professor of finance and accounting
at Tel Aviv University, 1976-1980, 1983-1985, 1985-1987.
Chan, L., Chan, K., Jegadeesh, N., & Lakonishok, J.
Earnings quality and stock returns. Journal of Business,
Chan, L., & Lakonshok, J. 2004. Value and growth
investing: Review and update. Financial Analysts Journal,
Chan, L., Karceski, J., & Lakonishok, J. 2002. The level and
persistence of growth rates. Journal of Finance, 58:
Chan, L., Chen H., & Lakonishok, J. 2002. On mutual fund
investment styles. Review of Financial Studies, 15:
Lakonishok, J., & Lee, I. 2001. Are insiders' trades
informative? Review of Financial Studies, Spring.
Sougiannis, T., Chan, L., & Lakonishok, J. 2001. The stock
market valuation of research and development expenditures.
Journal of Finance, 61: 2431-2456.
Lakonishok, J., Ikenberry, D., & Vermaelen, T. 2000. Stock
repurchases in Canada: Performance and strategic trading.
Journal of Finance, 55: 2373-2398.
Chan, L., Karceski, J., &. Lakonishok, J. 2000. A new
paradigm or the same old hype? The future of value versus
growth investing. Financial Analysts Journal, 56:
Honors and Awards
Senior Faculty Award for Excellence in Research, College of
Business, University of Illinois, 1999. Smith Breeden Prize
for Distinguished Paper, "Contrarian Investment,
Extrapolation and Risk," with A. Shleifer and R. Vishny,
1994. Research Grants, National Bureau of Economic Research,
1993-1994; National Science Foundation, 1992-93.
Editorial Boards, Journal of Portfolio Management,
Journal of Investment Management, Journal of
Investing, 2004 Journal of Financial and Quantitative
Analysis, Financial Analyst Journal. Honorary
Director, Center for Investment Research, 1999-2002.
and does research in the area of investment, with emphasis on the
stock market. Has been a consultant in the area of investment strategies
to major U.S. and European pension plans and money managers, 1990-94;
and to various financial institutions in the area of execution cost,
393 Wohlers Hall
1206 South Sixth Street
Champaign, IL 61820