Hardy Johnson

Brian Arthaud-Day

Interim Department Head
Associate Professor
Department of Finance

Office: 3052 Business Building
Mailing Address: 2097 Business Building
1301 Lovers Lane
Manhattan, KS 66506
Phone: 785-532-6992
Email: bhjohnson@k-state.edu

Research Goals

Hardy Johnson studies market microstructure with a focus on odd lot orders and trades. His primary research goal is to understand the role of odd lot trades, how they are used by individuals and institutions, and to explain their growing prevalence in modern markets.

Recent Publications

  • The explanatory power of order imbalance measures, with Ethan Watson, 2018, The Quarterly Journal of Finance

  • Odd lot trading and earnings announcements, with Ansley Chua and Tianming Zhang, 2018, Review of Quantitative Finance and Accounting

  • Are all odd-lots the same? Odd-lot transactions by order submission and trader type, with Bonnie Van Ness and Robert Van Ness, 2017, Journal of Banking and Finance

  • Odd lot order aggressiveness and stealth trading, with Brian Roseman, 2017, The Journal of Financial Research

  • Are odd lot orders informed?, with Jim Upson, 2017, The Financial Review

  • Tailored versus mass produced: Portfolio managers concurrently managing separately managed accounts and mutual funds, with Fan Chen and Sabuhi Sardarli, 2017, The Financial Review

Areas of Teaching

Investments, financial institutions and markets, principals of finance, corporate finance, and international finance


Ph D, University of Mississippi, 2013

MBA, University of Alabama at Birmingham, 2002

BS, Auburn University, 2000