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Kelley Bergsma Lovelace

Bergsma, Kelley
Leona Hughes Associate Professor of Finance
Muck 206


  • Ph.D., Finance, Florida State University, 2015
  • M.S., Finance, Villanova University, 2011
  • B.S., Finance & Economics, Villanova University, 2009

Research Interests

  • Market efficiency
  • International finance
  • Earnings announcements
  • Options
  • Short selling


  • Chen, Larry, and Kelley Bergsma Lovelace. "Unbundling Institutional Determinants of Innovation." International Journal of Finance & Economics (2022), forthcoming.

  • Fodor, Andy, Kelley Bergsma Lovelace, Vijay Singal, and Jitendra Tayal. “Does Firm Life Cycle Stage Affect Investor Perceptions? Evidence from Earnings Announcement Reactions.” Review of Accounting Studies, forthcoming.

  • Bergsma, Kelley, Andy Fodor, Vijay Singal, and Jitendra Tayal. “Option Trading after the Opening Bell and Intraday Stock Return Predictability.” Financial Management 49, no. 3 (2020), 769-804. Winner of 2018 Applied Finance Conference Best Paper Award.

  • Bergsma, Kelley, and Jitendra Tayal. “Quarterly Earnings Announcements and Intra-Industry Information Transfer.” International Review of Financial Analysis (2020): 101511.

  • Bergsma, Kelley, Vivien Csapi, Dean Diavatopoulos, and Andy Fodor. “Show Me the Money: Option Moneyness Concentration and Future Stock Returns.” Journal of Futures Markets, forthcoming.

  • Bergsma, Kelley, Andy Fodor, and Emily Tedford. “A Closer Look at the Disposition Effect in U.S. Equity Options.” Journal of Behavioral Finance 21, no. 1 (2020): 66-77.

  • Bergsma, Kelley, and Jitendra Tayal. “Short Interest and Lottery Stocks.” Financial Management 48, no. 1 (2019): 187-227.

  • Bergsma, Kelley, and Danling Jiang. “Cultural New Year Holidays and Stock Returns around the World.” Financial Management 45, no. 1 (2016), 3-35. Lead Article.

  • Bergsma, Kelley. “Does Offering Microsavings Make Sense for Microfinance Institutions?” The American Economist 56, no. 2 (2011): 15-27. Winner of 2010 Frank W. Taussig Article Award.

Presentations & Awards


  • AFFI Conference, 2021
  • Global Finance Conference, 2021
  • EFA Annual Meeting, 2021
  • University of Dayton Summer Finance Workshop, 2020
  • FMA Annual Meeting, 2019
  • International Accounting Section Midyear Meeting, 2019
  • FA Annual Meeting, 2018
  • FMA Applied Finance Conference, 2018
  • FMA Annual Meeting, 2017
  • MFA Annual Meeting, 2017
  • FMA Annual Meeting, 2016
  • EFA Annual Meeting, 2016
  • FMA Annual Meeting, 2015


  • College of Business Rising Star Award, 2022
  • Copeland Fellowship (2019-2020)
  • Ellsworth Holden Finance Faculty Award, 2019
  • Senior Class Faculty Recognition Award, 2018
  • College of Business Outstanding Scholar Award, 2017
  • Ellsworth Holden Finance Faculty Award, 2016
  • College of Business Doctoral Teaching Award, Florida State University, 2014
  • AFA Student Travel Grant, 2014
  • Frank W. Taussig Article Award Winner, 2010


Dr. Kelley Bergsma Lovelace is a Leona Hughes Associate Professor of Finance at Ohio University. Since 2015, Kelley has taught over 1,000 students at Ohio University in courses covering financial markets and institutions, financial derivatives, and fixed income. She won the College of Business Senior Class Faculty Recognition Award in 2018 and College of Business Rising Star Award in 2022. Her research centers on market efficiency, international finance, options, short selling, and earnings announcements. She has published nine peer-reviewed academic articles in Financial Management, Review of Accounting Studies, Journal of Futures Markets, Journal of Behavioral Finance, International Review of Financial Analysis, International Journal of Finance and Economics, and The American Economist.

Additional Information