Richard A. Borghesi

Richard A. Borghesi Associate Professor of Finance

College of Business University of South Florida – Sarasota-Manatee 8350 N. Tamiami Trail Sarasota, Florida 34243-2049 Phone: (941) 359-4524 Fax: (941) 359-4367 [email protected]

EDUCATION

 Ph.D. in Finance; University of Florida, 2004  M.B.A. in Finance, Specialization in International Business; Loyola University Chicago, 1995  B.S. in Civil Engineering; University of Hartford, 1994

EMPLOYMENT

 University of South Florida – Sarasota-Manatee  Associate Professor of Finance, 2012-present  Assistant Professor of Finance, 2009-2012  Visiting Assistant Professor of Finance, 2008-2009  Texas State University  Assistant Professor of Finance, 2004-2008  University of Florida  Research Assistant and Instructor, 1999-2004  Assistant Director, Graduate School of Business, Loyola University Chicago, 1998-1999  Management Development Program, McMaster-Carr Supply Company, 1997-1998  Product Manager, Westell Technologies, 1996-1997

PUBLICATIONS

 Borghesi, Richard. The Financial and Competitive Value of NCAA Basketball Recruits, Journal of Sports Economics, forthcoming.

 Borghesi, Richard, Kiyoung Chang, and Jamshid Mehran, 2016. Simultaneous Board and CEO Diversity: Does it Increase Firm Value?, Applied Economics Letters 23(1), pp. 23-26.

 Borghesi, Richard, 2015. A Case Study in Sports Law Analytics: The Debate on Widespread Point Shaving, Journal of Sports Analytics 1(1), pp. 87-89.

 Borghesi, Richard, 2015. Informed Traders and Balanced Books, The Journal of Prediction Markets 9(2), 32-42.

 Borghesi, Richard and Kiyoung Chang, 2015. The Determinants of Effective Corporate Lobbying, Journal of Economics and Finance 39(3), 606-624.

of 5 PUBLICATIONS (CONTINUED)

 Borghesi, Richard, Katerina Annaraud, and Dipendra Singh, 2015. Are Hospitality Industry IPO Stock Returns Predictable?, International Journal of Hospitality Management 44, 23-27.

 Borghesi, Richard, Joel Houston, and Andy Naranjo, 2014. Corporate Socially Responsible Investments: CEO Altruism, Reputation, and Shareholder Interests, Journal of Corporate Finance 26, 164-181.

 Borghesi, Richard, 2014. The Impact of the Disposition Effect on Asset Prices: Insight from the NBA, Journal of Economics and Finance 38(4), 698-711.

 Rodenberg, Ryan, Brian Tuohy, Richard Borghesi, Katarina Pijetlovic, and Sean Patrick Griffin, 2013. Corruption and Manipulation in Sports: Interdisciplinary Perspectives, Gaming Law Review and Economics 17(3), 175-187.

 Borghesi, Richard and Tom Pencek, 2013. Predicting First-Year Returns of Health Care IPOs, Journal of Applied Business Research 29(3), 877-884.

 Borghesi, Richard, 2013. Can Prediction Markets Mitigate Price Biases?, The Journal of Prediction Markets 7(1), 1-12.

 Borghesi, Richard, 2012. The Implications of an RFL Bias in a Prediction Market, The Journal of Prediction Markets 6(2), 12-21.

 Borghesi, Richard and Tom Pencek, 2011. The Value of SmartMoney’s Stock Recommendations, Applied Economics Letters 18(10), 949-953.

 Borghesi, Richard and Tom Pencek, 2010. The (Non)Performance of Kiplinger’s Expert Recommendations, Journal of Applied Business Research 26(4), 47-54.

 Borghesi, Richard, Rodney Paul, and Andrew Weinbach, 2010. Totals Markets as Evidence Against Widespread Point Shaving, The Journal of Prediction Markets 4(2), 15-22.

 Borghesi, Richard, Rodney Paul, and Andrew Weinbach, 2009. Market Frictions and Overpriced Favorites: Evidence from Arena Football, Applied Economics Letters 16(9), 903-906.

 Borghesi, Richard and William Dare, 2009. A Test of the Widespread-Point-Shaving Theory, Finance Research Letters 6(3), 115-121.

 Borghesi, Richard, 2009. The Effect of Contract Structure on Prediction Market Price Biases, The Journal of Prediction Markets 3(3), 1-12.

 Paul, Rodney, Andrew Weinbach, Richard Borghesi, and Mark Wilson, 2009. Using Betting Market Odds to Measure the Uncertainty of Outcome in Major League Baseball, International Journal of Sport Finance 4(4), 255-263.

 Borghesi, Richard, 2009. An Examination of Prediction Market Efficiency: NBA Contracts on Tradesports, The Journal of Prediction Markets 3(2), 65-77.

of 5 PUBLICATIONS (CONTINUED)

 Borghesi, Richard, 2008. Widespread Corruption in Sports Gambling: Fact or Fiction?, Southern Economic Journal 74(4), 1063-1069.

 Borghesi, Richard, 2008. Allocation of Scarce Financial Resources: Insight from the NFL Salary Cap, Journal of Economics and Business 60(6), 536-550.

 Borghesi, Richard, 2008. Weather Biases in the NFL Totals Market, Applied Financial Economics 18(12), 947-953.

 Baryla, Edward, Richard Borghesi, William Dare, and Steven Dennis, 2007. Learning, Price Formation and the Early Season Bias in the NBA, Finance Research Letters 4(3), 155-164.

 Borghesi, Richard, 2007. The Late-Season Bias: Explaining the NFL’s Home Underdog Effect, Applied Economics 39(15), 1889-1903.

 Borghesi, Richard, 2007. The Home Team Weather Advantage and Biases in the NFL Betting Market, Journal of Economics and Business 59(4), 340-354.

 Borghesi, Richard, 2007. Price Biases in a Prediction Market: NFL Contracts on Tradesports, The Journal of Prediction Markets 1(3), 233-253.

 Borghesi, Richard, Joel Houston, and Andy Naranjo, 2007. Value, Survival, and the Evolution of Firm Organizational Structure, Financial Management 36(3), 5-31.

BOOK CHAPTER

 Borghesi, Richard, “Price Biases and Contract Design: Lessons from Tradesports,” in Williams, L. (ed.), Prediction Markets: Theory and Applications, (London: Routledge), 2011.

CONFERENCE AND INVITED PRESENTATIONS

 “Are Markets Rational? Insight from Tradesports,” Eastern Finance Association, 2015.

 “Are Markets Rational? Insight from Tradesports,” Southern Finance Association, 2014.

 “Corruption, Gambling, and Manipulation in Sports,” Florida State University, 2012.

 “ Market Efficiency,” Morgan Stanley Smith Barney Investor’s Forum, University of South Florida – Sarasota-Manatee, 2010.

 “Price Biases in a Prediction Market: NFL Contracts on Tradesports,” University of Colorado, 2008.

 “ Value, Survival, and the Evolution of Firm Organizational Structure” (coauthored with Andy Naranjo and Joel Houston),” University of North Florida, 2007.

 “ Value, Survival, and the Evolution of Firm Organizational Structure” (coauthored with Andy Naranjo and Joel Houston),” University of North Carolina – Wilmington, 2007.

of 5 CONFERENCE AND INVITED PRESENTATIONS (CONTINUED)

 “ The Home Team Weather Advantage and Biases in the NFL Betting Market,” Financial Management Association, 2006.

 “ Weather Biases in NFL Betting Markets,” International Equine Industry Program Academic Conference, 2005.

 “ Value, Survival, and the Evolution of Firm Organizational Structure” (coauthored with Andy Naranjo and Joel Houston), Seton Hall University, 2003.

 “The Seasonal Biases in the NFL Betting Market: Explaining the NFL’s Home Underdog Effect,” FMA European Conference, 2003.

 “ Value, Survival, and the Evolution of Firm Organizational Structure” (coauthored with Andy Naranjo and Joel Houston), University of Kansas, 2003.

 “ Value, Survival, and the Evolution of Firm Organizational Structure” (coauthored with Andy Naranjo and Joel Houston), Financial Management Association, 2003.

CITATIONS IN POPULAR PRESS

 “Terps Seek ‘Social’ Coach, Reflecting New Era,” Baltimore Sun, October 16, 2015.  “Betting for or Against the Home Underdog,” Casino.org, May 28, 2015.  “Despite Hurdles, Fans Find Ways to Bet on Super Bowl,” Baltimore Sun, January 30, 2015.  “Delaware’s NFL Betting Business is Booming – and Marylanders are Noticing,” Baltimore Sun, November 14, 2014.  “Worldwide Sports Betting Draws Big Bucks,” Voice of America, May 23, 2014.  “The Financial Advice You Shouldn’t Take,” Men’s Health, January 3, 2014.  “The Scientific Guide to Sports Betting,” Men’s Health, December 9, 2013.  “ Could Team GB Suffer a Psychological Disadvantage in the Olympics from Being the Host Nations?,” The Huffington Post, July 29, 2012.  “Large NFL Home Underdogs Provide Late Season Value,” Sports Insights, December 12, 2011.  “ What is the Acclimatization Advantage and Why is it Useful for Betting NFL Football?,” Beyond the Bets, November 18, 2011.  “NFL Week 16 Line Moves,” ESPN Insider, December 24, 2010.  “That Dog Won’t Hunt,” SBR Forum, December 12, 2010.  “Sport Betting Strategy: A Very Profitable Sports Betting Tip,” Author Palace, August 18, 2010.  “Playoff Betting in 2010,” Article Solve, January 4, 2010.  Abramowicz, Michael, “Predictocracy: Market Mechanisms for Public and Private Decision Making,” (Yale University Press: New Haven), 2008.  “One Way to Make Money on Football Betting,” Portfolio.com, August 9, 2007.  “Prediction Markets Being Used by Companies,” Tucson Citizen, July 11, 2007.  “Entrepreneur Taps Into Video-Game Prediction Market,” The Arizona Republic, July 10, 2007.  “Grain Marketer Amassing Farmers’ Field Predictions,” Omaha World-Herald, July 2, 2007.  “Now You, Too, Can Predict Hurricanes,” San Antonio Express-News, September 4, 2006.  Surowiecki, James, “The Wisdom of Crowds,” (Random House Books: New York), 2005.  “Fair-Weather Fans,” ESPN the Magazine, September 13, 2004.  “Weather Plays Major Role in Outcomes in Sport and Financial Arenas,” University of Florida News and Public Affairs, June 23, 2004.

of 5 AWARDS, GRANTS & HONORS

 Excellence in Research Award, University of South Florida – Sarasota-Manatee, 2015  Research Award, Department of Finance and Economics, Texas State University, 2007, 2008  McCoy College Faculty Development Grant, Texas State University, 2005, 2006  Research Enhancement Program Grant, Texas State University, 2005  Presidential Fellowship, University of Florida, 1999-2004  Beta Gamma Sigma Honor Society

JOURNAL REFEREE

Journal of Corporate Finance, The Economic Journal, Economic Inquiry, Review of Industrial Organization, Southern Economic Journal, Journal of Sports Economics, Canadian Journal of Economics, Information Systems Frontiers, Journal of Economics and Business, Journal of Economics and Finance, Managerial Finance, Applied Financial Economics, Applied Economics, International Journal of Financial Studies

INTRUCTIONAL

 Undergraduate  Principles of Finance  Finance Information Technology  Case Problems in Finance

 Graduate  Integrated Business Applications  Financial Management  Efficiency of Financial Markets  Behavioral Finance and the Business of Sports