Adam Stivers

Finance and Business Economics

Adam joined the PhD program (Finance) at Degroote School of Business in September 2012.  His research interests include Empirical and Theoretical Asset Pricing, Investments, Behavioral Finance, Forecasting and Market Efficiency.

Supervisor: Ronald Balvers


  • M.A., Applied Economics, West Virginia University
  • B.S., Economics, West Virginia University

Selected Publications and Presentations

  • “Forecasting Returns with Fundamentals-Removed Investor Sentiment” International Journal of Financial Studies, 2015(3), 319-341

Work in Progress

  • “Using Partial Least Squares to Forecast Market Returns” (presented at 2015 European Financial Management Association conference)
  • “Testing the CAPM using Partial Least Squares”
  • “Investor overconfidence, investor sentiment, and stock market trading volume”


  • Instructor (full responsibility) – Securities Analysis (COMM 3FB3) at McMaster University, Winter 2015 and Summer 2015
  • Instructor (full responsibility) – Principles of Macroeconomics (ECON 201), online section at West Virginia University, Summer 2012
  • Teaching Assistant – Financial Management (COMM 3FA3) at McMaster University, Fall 2012, Fall 2013, and Fall 2014, Fall 2015
  • Teaching Assistant and Tutorial Leader – Principles of Finance (COMM 2FA3) at McMaster University, Winter 2013, Summer 2013, and Winter 2014.
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