Serhat Yildiz headshot

Serhat Yildiz

Assistant Professor of Finance


Serhat Yildiz is assistant professor of finance at the University of Nevada, Reno. He received his Ph.D. in finance from the University of Mississippi and joined the faculty at UNR in 2017.

His research interests include corporate finance (capital structure), market microstructure, implications of information flow from financial markets to corporations, price discovery, liquidity, and valuation. He has published in a number of academic journals like Journal of Corporate Finance, Journal of Financial Research, Financial Review, Journal of Economics and Finance, Journal of Risk and Financial Management, and Journal of Insurance Issues.

He won excellence in teaching awards in Spring 2019 and in Spring 2021.

He has taught Financial Management Theory and Practice, Research Methods in Finance, Business Finance, and Investments courses.

Research interests

Corporate Finance (Capital Structure), Market Microstructure, Information, Price Discovery, Liquidity, Valuation

Selected publications

  • Corporate debt policy and tax uncertainty, 2023. Review of Quantitative Finance and Accounting, (Forthcoming). With: K. Fuller and Q. Wu 
  • The behavior and determinants of illiquidity in the non-fungible tokens (NFTs) market, 2023. Global Finance Journal, 55, 100782. With: S. Wilkoff 
  • The relationship between tax uncertainty and trade credit: Firm-level  evidence from the United States, 2022. Applied Economics, 54(15), 1742-1758. With: M. S. Tosun 
  • Private information in trades, R2, and large stock price movements, 2021. Journal of Banking and Finance, 131, 106194. With: B. Van Ness and R. Van Ness 
  • The effects of exchange listing on market quality: Evidence from over‐the‐counter uplistings, 2021. Financial Review, 56(4), 645-669. With: R. Davis, T. Griffith, and B. Roseman    
  • How does aggregate tax policy uncertainty affect default risk?, 2020. Journal of Risk and Financial Management, 13(12), 319. With: M. S. Tosun 
  • VPIN, liquidity, and return volatility in the U.S. equity markets, 2019. Global Finance Journal, 45, 100479. With: B. Van Ness and R. Van Ness 
  • Credit default swaps and firms' financing policies, 2018. Journal of Corporate Finance, 48, 34-48. With: K. P. Fuller and Y. Uymaz 
  • Managerial learning through customer-supplier link, 2018. Journal of Financial Research, 41(4), 507-533. With: K. P. Fuller 
  • Dynamic arbitrageurs’ long-run impacts on convertible bond issuers’ stock prices, 2018. Theoretical Economics Letters, 8, 1553-1564. 
  • Hedging, cash flows, and firm value: Evidence of an indirect effect, 2017. Journal of Insurance Issues, 40(1), 1-22. With: M. Altuntas, A. P. Liebenberg, and E. D. Watson
  • The role of HFTs in order flow toxicity and stock price variance and predicting changes in HFTs’ liquidity provision, 2017. Journal of Economics and Finance, 41, 739-762. With: B. Van Ness and R. Van Ness

Courses taught

  • BADM 791: Special Topics (Ph.D. Seminar in Finance) 
  • BADM 742: Research Methods in Finance (Master’s Class) 
  • FIN 404.604: Financial Management Theory and Practice (Case Studies)
  • Business Finance 
  • Investments  


  • Ph.D., Finance, University of Mississippi
  • M.S., Economics and Finance, Southern Illinois University Edwardsville

Professional certifications

  • The Association of College And University Educators And The American Council On Education's Certificate In Effective College Instruction