Alan Crane

Associate Professor of Finance

Alan Crane is an Associate Professor of Finance at Rice University’s Jones School of Business. He has degrees in economics, finance, and accounting and a PhD from the University of Texas at Austin. His research focuses on the interaction between institutional investors and corporations with an emphasis on those investors’ impact on corporate financial policies and their performance evaluation. He has published academic articles in the top finance journals such as Journal of Finance, Review of Financial Studies, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, and Management Science. Alan has presented research at a number of major universities and conferences in both the U.S. and internationally, and his research has appeared in the popular press in such places as CNBC and Bloomberg. Alan’s teaching focuses on corporate finance and in particular corporate investment policy and project valuation. He has won multiple teaching awards, at both Rice and University of Texas. Prior to joining academia, Alan worked in consulting, focusing on risk-management of energy trading organizations and on specialized valuation of midstream energy assets.

To read more about Prof. Crane’s work, please visit Rice Business Wisdom.

Teaching Interests:

  • Core Finance
  • Corporate investment policy
  • Corporate financial policy
  • Managerial economics

Research Interests:

  • Empirical corporate finance
  • Institutional Investors
  • Governance


Journal Article
Crane, A.D. & Crotty, K. (2016). Passive versus Active Fund Performance: Do Index Funds Have Skill? Journal of Financial and Quantitative Analysis. doi:10.2139/ssrn.2467102

Journal Article
Crane, A.D. & Koch, A. (Forthcoming). Shareholder Litigation and Ownership Structure: Evidence from a Natural Experiment. Mangagement Science. doi:10.1287/mnsc.2016.2561

Journal Article
Weston, J., Crane, A.D., & Michenaud, S. (2015). The Effect of Institutional Ownership on Payout Policy: Evidence from Index Thresholds. Review of Financial Studies, 29(6), 1377-1408. doi:10.1093/rfs/hhw012