Richard J. Rendleman

Visiting Professor of Finance

E-Mail: richard.j.rendleman@tuck.dartmouth.edu Phone:

AB, Duke University, 1971; PhD, The University of North Carolina at Chapel Hill, 1976

Areas of expertise

Derivative securities markets, portfolio management, asset pricing, skill versus luck in professional golf

Current research topics

Simulation study of qualifying success probabilities in professional golf

Selected Publications

With H. Latané, "Standard Deviations of Stock Price Ratios Implied in Option Prices," The Journal of Finance, 1976; with B. Bartter, "Two State Option Pricing," The Journal of Finance, 1979; with B. Bartter, "The Pricing of Options on Debt Securities," Journal of Financial and Quantitative Analysis, 1980; with S. Manaster, "Option Prices as Predictors of Equilibrium Stock Prices," The Journal of Finance, 1982; with C. Jones and H. Latané, "Empirical Anomalies Based on Unexpected Earnings and the Importance of Risk Adjustments," Journal of Financial Economics, 1982; with M. Barth and W. Landsman, "Option Pricing- Based Bond Value Estimates and a Fundamental Components Approach to Account for Corporate Debt," The Accounting Review, 1998; "A General Model for Hedging Swaps with Eurodollar Futures," The Journal of Fixed Income, 2004; with R. Connolly, "Skill, Luck, and Streaky Play on the PGA Tour," Journal of the American Statistical Association, 2008; with Patrick Dennis, "Valuing Multiple Employee Stock Options Issued by the Same Company," Journal of Derivatives, 2008

Working Papers

"Properties of Portfolio-Based Estimates of Market Risk Premia"

Awards

Henry A. Latané Award, Distinguished Alumnus of the UNC PhD Program, May 1997; Best Paper Award, Financial Accounting and Reporting Section, American Accounting Association, 2000; Kenan-Flagler Alumni Merit Award, Distinguished Alumnus of the UNC PhD Program, November 2004

Professional Activities

Academic positions: Assistant Professor, Graduate School of Management, Northwestern University, 1976–79; Visiting Professor, Graduate School of Business, DePaul University, 1979–80; Associate Professor, Fuqua School of Business, Duke University, 1980–83; Associate Professor, 1983–87, Professor, 1987–2007, Professor Emeritus, 2007–present, Kenan-Flagler Business School, The University of North Carolina at Chapel Hill; Tuck School of Business, 2005–present

Nonacademic positions: Staff Accountant, Haskins and Sells, 1971; Staff Accountant, Sherrill and Smith, 1971–72; Market Maker, Chicago Board Options Exchange, 1979