Anthony Sanford

Assistant Professor, Department of Finance

Contact information

HEC Montréal
3000, chemin de la Côte-Sainte-Catherine
Montréal (Québec)
Canada H3T 2A7

Email : [email protected]
Phone : 514 340-6421
Secretary: 514 340-6823
Fax : n/a
Office : 4.220

Personal page

Other title(s)

Forthcoming

Education

PhD (Economics), University of Washington
M.A. (Economics), University of Washington
MSc (Finance), Seattle University
BComm (Finance and Economics), Concordia University

Current research

Forthcoming

This publication selection covers the last five years.

Journal articles (7)

SANFORD, Anthony, TREMBLAY-BOIRE, Joannie; « Investor reactions to board changes: does gender matter? », Applied Economics Letters, vol. 32, no 5, 2025, p. 693-696.

SANFORD, Anthony; « Information content of option prices: Comparing analyst forecasts to option-based forecasts », The North American Journal of Economics and Finance, vol. 73, 2024, p. 1-15.

MENKVELD, Albert J., ...,, GRÉGOIRE, Vincent, KHAN, Saad Ali, SANFORD, Anthony, ET AL.,; « Nonstandard Errors », Journal of Finance, vol. 79, no 3, 2024, p. 2339-2390.

SANFORD, Anthony; « State price density estimation with an application to the recovery theorem », Studies in Nonlinear Dynamics and Econometrics, vol. 27, no 1, 2023, p. 97-115.

SANFORD, Anthony; « Does Perception Matter in Asset Pricing? Modeling Volatility Jumps Using Twitter-Based Sentiment Indices », Journal of Behavioral Finance, vol. 23, no 3, 2022, p. 262-280.

SANFORD, Anthony; « Optimized portfolio using a forward-looking expected tail loss », Finance Research Letters, vol. 46, no Part B, 2022, p. 1-6.

SANFORD, Anthony, YANG, Mu-Jeung; « Corporate investment and growth opportunities: The role of R&D-capital complementarity », Journal of Corporate Finance, vol. 72, 2022, p. 1-18.

This selection of supervision activities covers the last five years.

Master's thesis direction – MSc in Management (5)

Impact des coûts de transaction sur les rendements et la volatilité des actions : une comparaison entre marchés développés et émergents. , by Geordan Fouegap Tatanfack
January 2026

In codirection with : KHAN, Saad Ali
How Do Transaction Costs Affect Price Discovery?, by Justin Bédard
January 2026

Résilience des marchés en développement (cas de la Bourse Régionale des Valeurs Mobilières) face aux crises : Comprendre la contagion et s'inspirer des marchés mondiaux, by Abdoul Aziz Frantz Kevin Kamagate
December 2025

The Impact of Board Gender Diversity on Investor Reactions: An Empirical Investigation on Cumulative Abnormal Return, by Xinyang Chen
November 2024

In codirection with : GRÉGOIRE, Vincent
Size Distortions in Robust Estimators: Implications for Asset Pricing, by Nicolas Harvie
March 2024

Supervised project supervision – MSc in Management (9)

Reassessing the Drivers of Analyst Target Prices Through Modern Econometric and Machine-Learning Methods , by Achille Yviquel
January 2026

Development of the Internal Models Approach (FRTB) for a Fixed-Income Portfolio , by Bianka Hernandez Cortez
January 2026

Analyse factorielle et allocation tactique d'actifs : une application pratique , by Carl Chabot
September 2025

Interactions entre les préoccupations climatiques médiatisées et les risques financiers : impact sur le comportement des entreprises et la performance boursière , by Rokhaya Cisse
March 2025

La mauvaise spécification du risque : l'impact des calculs de risque sur l'optimisation de portefeuille , by Rafaël Faure-Dionne
March 2025

Synergizing Factor Investing with ESG Criteria: Implications for Portfolio Performance and Risk Management , by Yuxuan Li
October 2024

Portfolio Optimization Using Neural Networks , by Xiyun Fan
September 2024

Étude des probabilités de concrétisation des garanties de taux des prêts hypothécaires à taux fixes , by Hedi Balma
September 2024

Analyse de l'impact des intervalles de volatilité sur les stratégies d'investissement , by Neila Bouchelaghem
September 2024