ד"ר אלרואי חדד
Elroi Hadad is a PhD in Finance and Actuarial Science, he is the owner and CEO of a Delaware-based Real Estate consulting firm, and a lecturer in the Industrial Engineering and Management at the SCE- Shamoon College of Engineering
Elroi Hadad graduated from Ben Gurion University of the Negev in 2017 and received his PhD in finance from the Department of Industrial Engineering and Management. His research specialties include Asset Pricing, Risk Management, Pension and Econometrics. He has taught courses in Statistics, Financial Markets, Finance and Economics for undergraduate and graduate levels
קורות חיים
השכלה
2013-2017 Ph.D. Ben-Gurion University of the Negev (BGU), Industrial Engineering and Management Department.
Dissertation title: The effect of pension reforms on Israeli markets: Investment risk, market efficiency and accounting aspects
Advisers: prof. Ramy Yosef, Prof. Haim Kedar-Levy and Dr. Yisrael Parmet.
2009-2012 M.Sc. Ben-Gurion University of the Negev, Industrial Engineering and Management Department.
Dissertation title: Solving a mixture distribution problem via mixture linear regression – A comparison study of two approaches. Adviser: prof. Haim Shore.
2005-2008 B.Sc. in Industrial Engineering and Management. Ben-Gurion University of the Negev, Israel.
פרסומים
Hadad, E., Malhotra, D., & McLeod, R. (2025). US Options Exchange-traded Funds: Performance Dynamics and Managerial Expertise. Borsa Istanbul Review. https://doi.org/https://doi.org/10.1016/j.bir.2025.01.012
Hadad E. (2025). Does trading mechanism shape cross-market integration? Evidence from stocks and corporate bonds on the Tel Aviv Stock Exchange. Journal of Economics, Finance and Administrative Science, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JEFAS-11-2023-0262
Choi, S. Y., & Hadad, E. (2025). The dynamic relationship among economic and monetary policy, geopolitical risk, sentiment, and risk aversion: A TVP-VAR approach. Finance Research Letters, 72, 106532. https://doi.org/10.1016/j.frl.2024.106532
Vasileiou, E., & Hadad, E. (2024). Benefits and drawbacks of the cost average plan as an alternative investment strategy in EMU countries. Cogent Economics & Finance, 12(1). https://doi.org/10.1080/23322039.2024.2426539
Hadad, E., Malhotra, D., & Vasileiou, E. (2024). Risk spillovers and optimal hedging in commodity ETFs: A TVP-VAR Approach. Finance Research Letters, 70, 106372. https://doi.org/10.1016/j.frl.2024.106372
Hadad, E.; Le, T.H. & Luong, A.T (2024). Quantile Spillovers and Connectedness Between Real Estate Investment Trust, the Housing Market, and Investor Sentiment. International Journal of Financial Studies, 12, 117. https://doi.org/10.3390/ijfs12040117
Barkai, I.; Hadad, E.; Shushi, T. & Yosef, R. (2024). Capturing Tail Risks in Cryptomarkets: A New Systemic Risk Approach. Journal of Risk and Financial Management, 17(9), 397. https://doi.org/10.3390/jrfm17090397
Vasileiou E., Hadad E. & Oikonomou M. (2024). Persistent Trends and Inefficiencies in the Greek Housing Market: A Sentiment Based Approach. Journal of European Real Estate Research, 17 (1), pp 49-69. https://doi.org/10.1108/JERER-08-2023-0027
Vasileiou, E., Hadad, E., & Melekos, G. (2024). What drives the real estate market? Could behavioral indicators be useful in house pricing models?. EconomiA. https://doi.org/10.1108/ECON-10-2023-0166
Hadad, E., & Kedar-Levy, H. (2024). The impact of retail investor sentiment on the conditional volatility of stocks and bonds: Evidence from the Tel-Aviv stock exchange. International Review of Economics & Finance, 89, 1303-1313. https://doi.org/10.1016/J.IREF.2023.09.002
Hadad, E., Malhotra, D., & Nippani, S. (2024). Trading commodity ETFs: Price behavior, investment insights, and performance analysis. Journal of Futures Markets. https://doi.org/10.1002/fut.22509
Malhotra D.K & Hadad E. (2024). Can Allocation Strategies Create Superior Alpha? Journal of Investing, 33 (4), 122-139. https://doi.org/10.3905/joi.2024.1.311
Hadad, E., Zbigniew, G., Agnieszka, W. C., & Piotr, S. (2023). Enhancing waste resource efficiency: circular economy for sustainability and energy conversion. Frontiers in Environmental Science, 11, 1303792. https://doi.org/10.3389/fenvs.2023.1303792
Afik, Z., Hadad, E., & Yosef, R. (2023). A Guaranteed-Return Structured Product as an Investment Risk-Hedging Instrument in Pension Savings Plans. Risks, 11(6), 107. https://doi.org/10.3390/risks11060107
Hadad E., Shushi T. & Yosef R. (2023). Measuring Systemic Governmental Reinsurance Risks of Extreme Risk Events. Risks, 11(3), p.50. https://doi.org/10.3390/risks11030050
Afik Z., Hadad E. & Yosef R. (2023). Structured Product as an Investment Risk-Hedging Instrument in Pension Savings, Innovations in Management, 12 (in Hebrew). https://en-coller.tau.ac.il/sites/coller-english.tau.ac.il/files/media_server/Recanati/management/newsletter/march2023/hadad2.pdf
Hadad E., Dimitrov S. & Stoilova-Nikolova J. (2023). Development of capital pension funds in the Czech Republic and Bulgaria and readiness to implement PEPP. European Journal of Social Security, 24(4), 1-19. https://doi.org/10.1177/13882627221150542
Wójcik-Czerniawska A. & Hadad E. (2022). International Trade and Economic Growth Nexus: A Review. Annals of Social Sciences & Management Studies, 8(1).
Hadad E. & Yosef R. (2022). A Note on Tax Incentives and The Pan-European Pension Product (PEPP): The Israeli Perspective. Annals of Social Sciences & Management Studies, 7(4).
Dimitrov, S. & Hadad, E., 2022. Pension tracking system application: A new supervision challenge in the EU. International Journal of Economic Sciences, 11(2), pp.48-57.
Gur Gershgoren, G., Hadad, E., & Kedar-Levy, H. (2020). A Deep Market in Israeli Corporate Bonds: Macro and Microeconomic Analysis in Light of the Accounting Standards. Israel Economic Review, 18(1), 139-176.
Kedar-Levy, H., Hadad, E., & Gur-Gershgoren, G. (2020). Deep-Market by IAS-19: A Unified Cross-Country Approach for Discount Rate Selection. Multinational Finance Journal, 24(3/4), 119-154.
Gur Gershgoren, G, Hadad, E. & Kedar-Levy H. (2019). Deep Market in Israeli Corporate Bonds Market: A Comparative Micro- and Macro-Economic Analysis in light of Economic Aspects, The Economic Quarterly, 63(3/4) (in Hebrew).
תחומי מחקר
Asset Pricing
Risk Management
Financial Economics
Behavioral Finance
Financial Markets
מענקי מחקר
Economic Uncertainty, Geopolitical Risks, and Investor Sentiment: A New Analysis of Real Estate Markets in the Middle East. Shamoon College of Engineering, 2024. [PI]
Investor Sentiment and Debt Market Liquidity: Evidence from Israel. Ono academic college public trust research institute fund, 2022 [PI]
Estimating Systemic Risks of Government Reinsurance Programs. Shamoon College of Engineering, young Research Track, 2021 (Jointly with Tomer Shushi and Rami Yosef) [PI]
Investors Sentiment Effect on TASE Assets. Ono academic college public trust research institute fund, 2022 (Joinly with Haim Ker-Levy) [Co-PI]
קורסים
Finance Theory
Quantitative Methods
Operations Research
Introduction to Probability and Statistics
Capital Markets and Risk Management
Engineering Economics in Civil Engineering
Management Economics
Computer Applications for Industry and Management
שת"פ עם התעשייה
Management member in the Israeli Association of Industrial engineering and Management
ביקורת עמיתים
International Review of Economics and Finance
Finance Research Letters
Financial Innovation
Journal of Financial Stability
Research in International Business and Finance
Heliyon
Economic Change and Restructuring
Review of Development Economics
Eurasian Economic Review
Cogent Economics and Finance
הופעות בתקשורת
Newspapers:
Hedging pension savings investments – reality or dream? Funder – March 20th, 2023. [In Hebrew]. https://www.funder.co.il/article/145103
Cold, calculated, and boring? A surprising look at bond trading. Globes – January 19th, 2022 [In Hebrew]. https://www.globes.co.il/news/article.aspx?did=1001399060
Podcatsts & Interviews:
Bonds, the Capital Markets, Sentiment, and Their Connection to Engineering. SCE Academy Podcast – January 20th, 2022. [In Hebrew]. https://podtail.com/podcast/62b60f00/--2022-01-20-2/
ספרים ופרסומים אחרים
The Intersection of Pension Savings and Financial Reforms: Israel's Corporate Bonds Story: Investment Risk, Market Efficiency, and Accounting Aspects. Amazon - November 2024.
Development of a Structured Product as a Risk Management Tool. Pension, Insurance & Finance (PIF), Ben-Gurion University, 2017. [In Hebrew].
הנחיה
Jivka Stoilova-Nikolova (Post-Doc) – “Development of Capital Pension Funds in Europe and Readiness to Implement PEPP (Pan-European Personal Pension Product)” (Jointly with Prof. Stanislav Dimitrov), August 2022.
Amit Fridman (M.B.A) – “Modeling Corporate Bonds’ Market Volatility Using Asymmetric GARCH Models” (Jointly with Prof. Rami Yosef)