Gideon Saar

Biography

Gideon Saar is the Harold Bierman Jr. Distinguished Professor of Management and Professor of Finance at the Samuel Curtis Johnson Graduate School of Management. His research interests include market microstructure, behavioral finance, and stock market return predictability. His current research focuses on examining how the trading of quantitative and traditional asset managers can be used to predict returns, how divergence of information about ESG affects market liquidity, and how inventory control shapes the strategies of liquidity providers in decentralized crypto exchanges.

Saar has been published in the leading finance journals, including the Journal of Finance, Review of Financial Studies, Journal of Financial Economics, the Journal of Financial and Quantitative Analysis, and the Journal of Financial Markets. He is a co-organizer of the annual National Bureau of Economic Research’s Conference on Financial Market Structure. Saar was previously on the faculty of the Stern School of Business at New York University. In addition to his doctorate in finance, he holds an undergraduate degree in finance and a master’s degree in economics. At the request of the New York Stock Exchange, Saar spent the 2001–2002 academic year as the NYSE’s visiting research economist. Saar was a co-editor of the Journal of Financial Markets and a member of the Economic Advisory Committee of the Financial Industry Regulatory Authority (FINRA).

Education

PhD Johnson Graduate School of Management, Cornell University, 2000
MA Cornell University, 1996
BBA CUNY Bernard M Baruch College, 1994

Research

• Saar, Gideon; Sun, Jian; Yang, Ron; Zhu, Haoxiang. "From Market Making to Matchmaking: Does Bank Regulation Harm Market Liquidity?"Review of Financial Studies. 36.2 (2023): 678-732
• O'Hara, Maureen; Saar, Gideon; Zhong, Zhuo. "Relative Tick Size and the Trading Environment"Review of Asset Pricing Studies. 9.1 (2019): 47-90
• Boehmer, Ekkehart; Li, Dan; Saar, Gideon. "The Competitive Landscape of High-frequency Trading Firms"Review of Financial Studies. 31.6 (2018): 2227-2276
• Bloomfield, Robert J.; O'Hara, Maureen; Saar, Gideon. "Hidden Liquidity: Some New Light on Dark Trading"Journal of Finance. 70.5 (2015): 2227-2274
• Chordia, Tarun; Goyal, Amit; Lehmann, Bruce; Saar, Gideon. "High-Frequency Trading"Journal of Financial Markets. 16.4 (2013): 637-645
• Kaniel, Ron; Liu, Shuming; Saar, Gideon; Titman, Sheridan. "Individual Investor Trading and Return Patterns around Earnings Announcements"Journal of Finance. 67.2 (2012): 639-680
• Linnainmaa, Juhani; Saar, Gideon. "Lack of Anonymity and the Inference from Order Flow"Review of Financial Studies, Ed. David Hirshleifer. 25.5 (2012): 1414-1456
• Hasbrouck, Joel; Saar, Gideon. "Technology and Liquidity Provision: The Blurring of Traditional Definitions"Journal of Financial Markets. 12.2 (2009): 143-172
• Bloomfield, Robert J.; O'Hara, Maureen; Saar, Gideon. "How Noise Trading Affects Markets: An Experimental Analysis"Review of Financial Studies. 22.6 (2009): 2275-2302
• Kaniel, Ron; Saar, Gideon; Titman, Sheridan. "Individual Investor Trading and Stock Returns"Journal of Finance. 63.1 (2008): 273-310

Awards

• Stephen Russell ’60, MBA ’61 Distinguished Teaching Award (2026) Samuel Curtis Johnson Graduate School of Management
• Curriculum Innovation Award (AI for Quantitative Investment Analyses) (2026) Samuel Curtis Johnson Graduate School of Management
• Core Faculty Award for the One-Year MBA Program (2019) Samuel Curtis Johnson Graduate School of Management
• Faculty Research Award (2014 - 2015)
• Best Paper Prize (2012) Conference on Current Topics in Financial Regulations