ACADEMIC AREA Finance AREAS OF EXPERTISE Asset Management, Trading Costs and Portfolio Performance, Mutual Fund Governance, Fund Distribution Channels, Short-Selling and Option Prices BiographyPublicationsCoursesCase Studies Education: B.S., MS, University of Utah; MA, Ph.D., Wharton School, University of PennsylvaniaAssociate Professor Richard Evans' research deals broadly with investment decisions. His current research projects explore risk taking on the part of mutual fund managers, the role of broker intermediation in mutual fund investing and the impact of commission bundling and other trading costs on portfolio performance. His research has been published in the Journal of Finance, the Journal of Financial Economics and the Review of Financial Studies and cited by the New York Times, Wall Street Journal, The Economist and Forbes magazine. He has presented his research to the Securities and Exchange Commission, Social Security Administration and the American Finance Association. Evans has also taught executive education courses for investment professionals from Merrill Lynch, Morgan Stanley and Citizens Bank and he is the advisor to Darden Capital Management, Darden's student run investment funds.Journal PublicationsMutual Fund IncubationJournal of Finance, 2010, 65 (4), 1581-1611. DownloadFailure is an Option: Impediments to Short Selling and Option PricesReview of Financial Studies, 2009, 22 (5), 1955-1980. (with Christopher Geczy, Adam Reed and David Musto) DownloadDisclosure and Agency Conflict in Delegated Investment Management: Evidence from Mutual Fund Commission BundlingJournal of Financial Economics, 2012, 103 (2), 308-326. (with Roger Edelen and Greg Kadlec) DownloadInstitutional Investors and Mutual Fund Governance: Evidence from Retail - Institutional Fund TwinsReview of Financial Studies, 2012, 25 (12), 3530-3571. (with Rüdiger Fahlenbrach) DownloadWhat do Consumers' Fund Flows Maximize? Evidence from Their Brokers' IncentivesJournal of Finance, 2013, 68 (1), 201-235. (with Susan Christoffersen and David Musto) DownloadShedding light on 'invisible' costs: Trading costs and mutual fund performanceFinancial Analysts Journal, 2013, 69 (1), 33-44. (with Roger Edelen and Greg Kadlec)Working PapersScale Effects in Mutual Fund Performance: The Role of Trading Costs(with Roger M. Edelen, and Gregory B. Kadlec) DownloadThe Portfolio Choices of Young and Old Active Mutual Fund Managers(with David A. Chapman, and Zhe Xu). DownloadDoes Alpha Really Matter? Evidence from Mutual Fund Incubation, Termination and Manager ChangeDownloadMBA CoursesInvestments Portfolio ManagementAdvancing knowledge through research that shapes business, Darden professors are recognized thought leaders in their fields. They are not only master case method teachers, they also author many of the cases used in Darden classrooms and around the world.Richard B. Evans' cases are available in the Darden Business Publishing website.