Andrea Rossi
- Assistant Professor, Finance
- Member of the Graduate Faculty
Contact
- (520) 621-4486
- McClelland Hall, Rm. 315P
- Tucson, AZ 85721
- rossi2@arizona.edu
Degrees
- Ph.D. Finance
- Ohio State University, Columbus, Ohio, United States
- Three Essays on the Behavior of Financial Market Participants
- M.S. Finance
- Cass Business School, London, United Kingdom
- B.S. Economics
- Bocconi University, Milan, Italy
Awards
- Finalist Reseach Award
- European Investment Forum 2019, University of Cambridge, UK, Spring 2019 (Award Finalist)
Licensure & Certification
- Chartered Financial Analyst, CFA Institute (2019)
Interests
Teaching
International Finance, Financial Literacy
Research
Investments, Asset Management, Investor Behavior, Financial Markets, Insider Trading
Courses
2024-25 Courses
-
Dissertation
FIN 920 (Spring 2025) -
Fin Mgmt/Multi-Nat Entrp
FIN 514 (Spring 2025) -
International Finance
FIN 414 (Spring 2025) -
Dissertation
FIN 920 (Fall 2024)
2023-24 Courses
-
Fin Mgmt/Multi-Nat Entrp
FIN 514 (Spring 2024) -
International Finance
FIN 414 (Spring 2024)
2022-23 Courses
-
Fin Mgmt/Multi-Nat Entrp
FIN 514 (Spring 2023) -
International Finance
FIN 414 (Spring 2023)
2021-22 Courses
-
Fin Mgmt/Multi-Nat Entrp
FIN 514 (Spring 2022) -
International Finance
FIN 414 (Spring 2022)
2020-21 Courses
-
Fin Mgmt/Multi-Nat Entrp
FIN 514 (Spring 2021) -
International Finance
FIN 414 (Spring 2021)
2019-20 Courses
-
Fin Mgmt/Multi-Nat Entrp
FIN 514 (Spring 2020) -
International Finance
FIN 414 (Spring 2020)
2018-19 Courses
-
International Finance
FIN 414 (Spring 2019) -
Master's Report
FIN 909 (Fall 2018)
Scholarly Contributions
Journals/Publications
- Couts, S. J., Gonçalves, A. S., & Rossi, A. (2024). Unsmoothing Returns of Illiquid Funds. The Review of Financial Studies. doi:10.1093/rfs/hhae006
- Ben-David, I., Li, J., Rossi, A., & Song, Y. (2023). Discontinued Positive Feedback Trading and the Decline of Return Predictability. Journal of Financial and Quantitative Analysis, 59(Issue 7). doi:10.1017/s0022109023000959More infoWe show that demand effects generated by institutional frictions can influence systematic return predictability patterns in stocks and mutual funds. Identification relies on a reform to the Morningstar rating system, which we show caused a structural break in style-level positive feedback trading by mutual funds. As a result, momentum-related factors in stocks, as well as performance persistence and the "dumb money effect" in mutual funds, experienced a sharp decline. Consistent with the proposed channel, return predictability declined right after the reform, was limited to the U.S. market, and was concentrated in factors and mutual funds most exposed to the mechanism.
- Rossi, A., Ben-David, I., Li, J., & Song, Y. (2021). Ratings-Driven Demand and Systematic Price Fluctuations. Review of Financial Studies.
- Rossi, A., Ben-David, I., Li, J., & Song, Y. (2021). Ratings-Driven Demand and Systematic Price Fluctuations. The Review of Financial Studies, 35(6), 2790-2838. doi:10.1093/rfs/hhab104
- Rossi, A., Ben-David, I., Li, J., & Song, Y. (2021). What Do Mutual Fund Investors Really Care About?. The Review of Financial Studies, 35(4), 1723-1774. doi:10.1093/rfs/hhab081
- Rossi, A., Ben-David, I., Li, J., & Song, Y. (2021). What do Mutual Fund Investors Really Care About?. Review of Financial Studies.
- Rossi, A., Ben-David, I., & Birru, J. (2019). Industry familiarity and trading: Evidence from the personal portfolios of industry insiders. Journal of Financial Economics.
