James A. Ligon

James A. Ligon
Professor of Finance and Thomas D. Russell Professor of Business Administration
Economics, Finance & Legal Studies
Office: 246 Alston Hall, 205-348-6313
Specialty Areas:
Insurance, Capital Markets under Imperfect Information, Corporate Finance.
Education:
University of Illinois (B.S. and J.D.), University of Pennsylvania (M.S. and Ph.D.).
Honors, Achievements and Affiliations:

Dr. Ligon holds the Certified Public Accountant and Certified Financial Services Counselor designations. He was a Huebner Fellow from 1987 to 1991. He is published in the Journal of Business, Economica, Financial Management, Journal of Corporate Finance, Journal of Banking and Finance, Journal of Risk and Insurance, Journal of Financial Research, The Financial Review, Geneva Papers on Risk and Insurance Theory, Journal of Economics and Business, Quarterly Review of Economics and Finance, Journal of Insurance Issues, Journal of Economics and Finance, Proceedings of the Risk Theory Society and Federal Taxation. He received the Robert L. Hatcher Award for the Outstanding Finance Faculty Member in 1994.

Selected Publications

  • “How Much is Reasonable?  The Size of Termination Fees in Mergers and Acquisitions.”  (With Jin Jeon.)  Journal of Corporate Finance.  September 2011.
  • “The Effect of the Trading System on IPO Underpricing:  Evidence from the 1997 Order-Handling Rules. (With Hao-Chen Liu.)  Journal of Financial Research.  Spring 2011.
  • “The Role of Co-Managers in Reducing Floatation Costs:  Evidence from Seasoned Equity Offerings. (With Jin Jeon.)  Journal of Banking and Finance.  May 2011.
  • “Exercises of Executive Stock Options on the Vesting Date.” (With Xudong Fu.) Financial Management. Fall 2010.
  • “The Underpricing of IPOs of Insurance Companies.” (With Qiming Wang.) Financial Management.   Summer 2009.
  • “The Day of the Week Effect in IPO Initial Returns.” (With Travis Jones.) Quarterly Review of Economics and Finance. February 2009.
  • “Adverse Selection with Frequency and Severity Risk:  Alternative Risk Sharing Provisions.” (With Paul Thistle.) Journal of Risk and Insurance.  December 2008.
  • “Moral Hazard and Background Risk in Competitive Insurance Markets.” (With Paul Thistle.) Economica.    November 2008.
  • “Lease Financing and Corporate Governance”, (With Sara Helms Robicheaux and Xudong Fu.) Financial Review.  August 2008.
  • “The Organizational Structure of Insurance Companies:  The Role of Heterogeneous Risks and Guaranty Funds.” (With Paul Thistle.)  Journal of Risk and Insurance. December 2007.
  • “Convertible Debt Use and Corporate Governance.”  (With Sara Helms Robicheaux and Xudong Fu.) Quarterly Journal of Business and Economics. Summer 2007.
  • “A Behavioral Model of Insurance Pricing.” (With Paul Thistle.) Journal of Insurance Issues. Spring 2007.
  • “The Formation of Mutual Insurers in Markets with Adverse Selection.” (With Paul Thistle.) Journal of Business.  March 2005.
  • “Moral Hazard in Risk Pooling Arrangements.” (With W. Lee.)  Journal of Risk and Insurance. March 2001.