University of California, Berkeley - Haas School of Business

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Faculty & Research

Faculty and Executive Leadership Directory

 

Nils Hakansson

Nils H. Hakansson

Professor Emeritus
Haas Accounting Group
Haas Finance Group
510-642-3408
Email: click on the envelope icon below for full email address
Academic Status: Emeritus
Office Hours: By appointment
Personal Homepage: http://www.hakansson.com/
Curriculum Vitae (in PDF format, Acrobat Reader required)

Education

BS, Business Administration & Economics, University of Oregon
MBA, Accounting & Statistics, University of California, Los Angeles
PhD, Quantitative methods, University of California, Los Angeles


Positions Held

At Haas since 1969
1977 - 2002, Sylvan C. Coleman Professor of Finance and Accounting, Haas School of Business
1971 - 1977, Professor, Haas School of Business
1969 - 1971, Associate Professor, Haas School of Business
1967 - 1969, Assistant Professor of Administrative Sciences, Yale University
1966 - 1967, Assistant Professor of Business Administration, UCLA
1962 - 1963, CPA and Consultant, Arthur Young & Company, Certified Public Accountants
1960 - 1962, Staff Accountant, Arthur Young & Company, Certified Public Accountants


External Service and Assignments

  • Member, board of directors, Laudus Rosenberg Mutual Funds
  • Founding member: Society for the Promotion of Financial Studies
  • Member, editorial board: China Accounting and Finance Review

Current Research and Interests

  • Dynamic portfolio strategies
  • The welfare economics of financial markets
  • Economics of Information
  • Disclosure regulation and productive efficiency
  • Financial reporting

Selected Papers and Publications

  • "Social Security’s Investment Shortfall: $8 Trillion Plus – and The Way Forward – Plus How the US Government’s Financial Deficit Reporting = 64 Madoffs", World Scientific, 2013.
  • "Applying Portfolio Change and Conditional Performance Measures: The Case of Industry Rotation via the Dynamic Investment Model," with Robert Grauer. Review of Quantitative Finance and Accounting 17, no. 3 (November 2001): 233-265.
  • "The Role of a Corporate Bond Market in an Economy and in Avoiding Crisis." China Accounting and Finance Review 1, no. 1 (March 1999): 105-114 (Chinese Version 98-104); Summary in Japanese by Nomura Research Institute. Over 3300 full-text downloads as of January 2006.
  • "Gains from Diversifying into Real Estate: Three Decades of Portfolio Returns Based on the Dynamic Investment Model," with Robert Grauer. Real Estate Economics 23 (Summer 1995): 117-159.
  • "On the Feasibility of Automated Market Making by a Programmed Specialist," with Avraham Beja and Jivendra Kale. The Journal of Finance 40 (March 1985): 1-20.
  • "To Pay or Not to Pay Dividends." The Journal of Finance. XXXVII (May 1982): 415-428; reprinted in summary form in The C.F.A. Digest. 13 (Summer 1983): 16-17.
  • "Sufficient and Necessary Conditions for Information to Have Social Value in Pure Exchange," with Gregory Kunkel and James Ohlson. The Journal of Finance 37 (December 1982): 1169-1181.
  • "Changes in the Financial Market: Welfare and Price Effects and the Basic Theorems of Value Conservation." The Journal of Finance 37 (September 1982): 977-1004.
  • "On Politics of Accounting Disclosure and Measurement: An Analysis of Economic Incentives." Journal of Accounting Research 19 (Supplement 1981): 1-35.
  • "The Purchasing Power Fund: A New Kind of Financial Intermediary." Financial Analysts Journal 32 (November-December 1976): 49-59.
  • "Convergence to Isoelastic Utility and Policy in Multiperiod Portfolio Choice." Journal of Financial Economics 1 (September 1974): 201-224.
  • "Optimal Investment and Consumption Strategies Under Risk for a Class of Utility Functions." Econometrica 38 (September 1970): 587-607; reprinted in Stochastic Optimization Models in Finance. (eds. W. T. Ziemba and R. G. Vickson), Academic Press, (1975): 525-545.

Teaching

  • Advanced Topics in Business Finance, BA 237
  • Investment Strategies and Risk Management, BA 239
  • Financial Investment Technologies, Executive Program

Honors and Awards

  • Honorary Doctorate (Oecon. dr. hon. c.), Stockholm School of Economics, 1984
  • Member, Financial Economists Roundtable, 1993 - 2003
  • Listed in Who's Who in Economics
  • Fellow, Accounting Researchers International Association, since 1980
  • Graham and Dodd Scroll, 1982 (for article in Financial Analysts Journal)
  • Graham and Dodd Scroll, 1976 (for article in Financial Analysts Journal)
  • Earl F. Cheit Award for Excellence in Teaching, PhD Program, 1987
  • National Science Foundation Research Grants, 1971-73, 1974-76
  • Ford Foundation Fellowship, 1963-64, 1964-65, 1965-66



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