Stephen Ciccone

Chair of Accounting and Finance Department and Associate Professor of Finance
Paul College 355E

Fields of Specialization:

Stock return anomalies, behavioral finance, and analyst forecast issues


Ph.D., Business Administration (Finance), Florida State University
Master of Accounting, University of Florida
B.S., Accounting, University of Florida
Certified Public Accountant (Florida) since 1995

Recent Research:


Ang, James S. and Stephen J. Ciccone. 2009. “Dividend Irrelevance Policy.” In H. Kent Baker (editor), Dividends and Dividend Policy. Hoboken, NJ, Wiley: 97-113.


Boulatoff, Catherine, Carol Boyer, and Stephen J. Ciccone. 2013. “Voluntary Environmental Regulation and Firm Performance: The Chicago Climate Exchange.”  Journal of Alternative Investments, vol. 15, no. 3 (Winter): 114-122.

Ciccone, Stephen J. 2011. “Analyst Forecasts, Forecasting Complexity, and Financial Distress.” Financial Decisions, vol. 23, no. 1 (Summer): Article 1, 1-35.

Ciccone, Stephen J. 2011. “Investor Optimism, False Hopes, and the January Effect.” Journal of Behavioral Finance, vol. 12, no. 3: 158-168.

Boyer, Carol, Stephen J. Ciccone, and Philip Swicegood. 2010. “The Search for a Dog-Free Portfolio: Why Unions Matter to Investors.” Journal of Business and Economics Research, vol. 8, no. 6 (June): 67-72.

Boyer, Carol and Stephen J. Ciccone. 2009.  “Do Utility Stocks Provide Exposure to Bond Markets?” Journal of Business and Economics Research, vol. 7, no. 12 (December): 25-29.

Ciccone, Stephen J. and Ahmad Etebari. 2008. “A Month-By-Month Examination of Long-Term Stock Returns.” Investment Management and Financial Innovations, vol. 5, no. 3: 8-18.

Ciccone, Stephen J. and Ahmad Etebari. 2007. “Analyst Forecasts in New Zealand.” Investment Management and Financial Innovations, vol. 4, no. 2: 25-32.

Boyer, Carol, Stephen J. Ciccone, and Wei Zhang. 2006. “Insider Trading and Earnings Reporting: Evidence of Managerial Optimism or Opportunism?” Advances in Investment Analysis and Portfolio Management, vol. 2: 123-146.

Ciccone, Stephen J. and Thomas A. Rocco. 2005. “The Tech Industry or the Regulated Industry: Which One has the True Glamour Stocks?” Journal of Financial Service Professionals, vol. 59, no. 5 (September): 64-74.

Ciccone, Stephen J. 2005. “Trends in Analyst Earnings Forecast Properties.” International Review of Financial Analysis, vol. 14, no. 1: 1-22.

Ciccone, Stephen J. and Ahmad Etebari. 2004. “Analyst Earnings Forecast Trends in Pacific Rim Countries.” Managerial Finance, vol. 30, no. 7: 19-35.

Boyer, Carol, Stephen J. Ciccone, Yvette S. Harman, and Philip G. Swicegood. 2003. “Play Ball at My House: The Value of Naming Rights in Sports Complexes.” Southern Business and Economic Journal, vol. 26, nos. 3 and 4 (Summer/Fall): 103-118.

Ciccone, Stephen J. 2003. “Does Analyst Optimism about Future Earnings Distort Stock Prices?” Journal of Behavioral Finance, vol. 4, no. 2: 59-64.

Ciccone, Stephen J. 2003. “Forecast Dispersion and Error Versus Size, Book-to-Market Ratio, and Momentum: A Comparison of Anomalies from 1992 to 2001.” Journal of Asset Management, vol. 3, no. 4 (March): 333-344.

Ciccone, Stephen J. 2002. “GAAP Versus Street Earnings: Making Earnings Look Higher and Smoother.” Accounting Enquiries, vol. 11, no. 2 (Spring/Summer): 155-186.

Reprinted in the ICFAI Journal of Accounting Research, a journal of the Institute of Chartered Financial Analysts of India: vol. 3, no. 1 (January 2004): 59-68.

Benesh, Gary A. and Stephen J. Ciccone. 2000. “Trading Commissions, Portfolio Turnover Rates, and Wealth Accumulation.” Journal of Research in Finance, vol. 3, nos. 1 and 2 (Summer/Winter): 152-171.


Honors & Awards:


Return to Department of Accounting and Finance Faculty Page