Terrence Hendershott

8.0k total citations · 1 hit paper
77 papers, 5.1k citations indexed

About

Terrence Hendershott is a scholar working on Finance, Economics and Econometrics and Accounting. According to data from OpenAlex, Terrence Hendershott has authored 77 papers receiving a total of 5.1k indexed citations (citations by other indexed papers that have themselves been cited), including 65 papers in Finance, 38 papers in Economics and Econometrics and 36 papers in Accounting. Recurrent topics in Terrence Hendershott's work include Financial Markets and Investment Strategies (61 papers), Corporate Finance and Governance (33 papers) and Complex Systems and Time Series Analysis (17 papers). Terrence Hendershott is often cited by papers focused on Financial Markets and Investment Strategies (61 papers), Corporate Finance and Governance (33 papers) and Complex Systems and Time Series Analysis (17 papers). Terrence Hendershott collaborates with scholars based in United States, Canada and Switzerland. Terrence Hendershott's co-authors include Ryan Riordan, Michael J. Barclay, Jonathan Brogaard, Charles M. Jones, Albert J. Menkveld, Pamela C. Moulton, Dmitry Livdan, Mark S. Seasholes, Ananth Madhavan and Haim Mendelson and has published in prestigious journals such as The Journal of Finance, Journal of Financial Economics and American Economic Review.

In The Last Decade

Terrence Hendershott

74 papers receiving 4.8k citations

Hit Papers

High-Frequency Trading and Price Discovery 2014 2026 2018 2022 2014 200 400 600
What are hit papers?

Hit papers significantly outperform the citation benchmark for their cohort. A paper qualifies if it has ≥500 total citations, achieves ≥1.5× the top-1% citation threshold for papers in the same subfield and year (this is the minimum needed to enter the top 1%, not the average within it), or reaches the top citation threshold in at least one of its specific research topics.

  1. High-Frequency Trading and Price Discovery
    2014 722 citations Jonathan Brogaard, Terrence Hendershott et al. Review of Financial Studies profile →

Peers — A (Enhanced Table)

Peers by citation overlap · career bar shows stage (early→late) cites · hero ref

Name h Career Trend Papers Cites
Terrence Hendershott United States 33 4.3k 2.8k 1.9k 1.2k 425 77 5.1k
Bruno Biais France 33 3.9k 0.9× 3.1k 1.1× 2.8k 1.5× 1.1k 0.9× 384 0.9× 96 5.8k
Paul Pfleiderer United States 26 5.4k 1.2× 3.4k 1.2× 3.5k 1.9× 824 0.7× 637 1.5× 52 7.0k
Gur Huberman United States 23 3.4k 0.8× 2.4k 0.9× 2.1k 1.1× 566 0.5× 572 1.3× 58 4.8k
Gideon Saar United States 29 4.4k 1.0× 2.6k 0.9× 2.4k 1.3× 897 0.8× 361 0.8× 46 4.9k
Chester S. Spatt United States 32 3.2k 0.7× 2.6k 0.9× 1.8k 1.0× 713 0.6× 420 1.0× 92 4.4k
Jonathan Brogaard United States 25 2.6k 0.6× 2.5k 0.9× 1.4k 0.7× 606 0.5× 682 1.6× 72 3.9k
Charles M. Kahn United States 25 2.4k 0.6× 2.9k 1.1× 1.5k 0.8× 551 0.5× 1.6k 3.8× 107 5.0k
Albert S. Kyle United States 21 9.3k 2.2× 6.1k 2.2× 4.3k 2.3× 1.6k 1.4× 1.0k 2.5× 61 10.8k
Ananth Madhavan United States 39 6.9k 1.6× 3.7k 1.3× 4.0k 2.1× 1.2k 1.0× 922 2.2× 114 7.7k
Lawrence Harris United States 30 6.7k 1.6× 3.8k 1.4× 3.3k 1.7× 862 0.7× 900 2.1× 46 7.5k

Countries citing papers authored by Terrence Hendershott

Since Specialization
Citations

This map shows the geographic impact of Terrence Hendershott's research. It shows the number of citations coming from papers published by authors working in each country. You can also color the map by specialization and compare the number of citations received by Terrence Hendershott with the expected number of citations based on a country's size and research output (numbers larger than one mean the country cites Terrence Hendershott more than expected).

Fields of papers citing papers by Terrence Hendershott

Since Specialization
Physical SciencesHealth SciencesLife SciencesSocial Sciences

This network shows the impact of papers produced by Terrence Hendershott. Nodes represent research fields, and links connect fields that are likely to share authors. Colored nodes show fields that tend to cite the papers produced by Terrence Hendershott. The network helps show where Terrence Hendershott may publish in the future.

Co-authorship network of co-authors of Terrence Hendershott

This figure shows the co-authorship network connecting the top 25 collaborators of Terrence Hendershott. A scholar is included among the top collaborators of Terrence Hendershott based on the total number of citations received by their joint publications. Widths of edges represent the number of papers authors have co-authored together. Node borders signify the number of papers an author published with Terrence Hendershott. Terrence Hendershott is excluded from the visualization to improve readability, since they are connected to all nodes in the network.

All Works

20 of 20 papers shown
1.
Hendershott, Terrence, Marc Rysman, & Rainer Schwabe. (2025). Stock exchanges as platforms for data and trading. Journal of Financial Markets. 75. 100986–100986. 1 indexed citations
2.
Hendershott, Terrence, Dan Li, Dmitry Livdan, & Norman Schürhoff. (2024). When failure is an option: Fragile liquidity in over-the-counter markets. Journal of Financial Economics. 157. 103859–103859.
3.
Hendershott, Terrence, et al.. (2021). Do We Need Dealers in OTC Markets?. SSRN Electronic Journal. 1 indexed citations
4.
Hendershott, Terrence, et al.. (2020). True Cost of Immediacy. SSRN Electronic Journal. 4 indexed citations
5.
Hendershott, Terrence, Dan Li, Dmitry Livdan, & Norman Schürhoff. (2019). Relationship Trading in Over‐the‐Counter Markets. The Journal of Finance. 75(2). 683–734. 73 indexed citations
6.
Brogaard, Jonathan, Terrence Hendershott, & Ryan Riordan. (2014). High-Frequency Trading and Price Discovery. Review of Financial Studies. 27(8). 2267–2306. 722 indexed citations breakdown →
7.
Hendershott, Terrence, et al.. (2014). Are Institutions Informed About News?. SSRN Electronic Journal. 16 indexed citations
8.
Hendershott, Terrence & Mark S. Seasholes. (2014). Liquidity provision and stock return predictability. Journal of Banking & Finance. 45. 140–151. 9 indexed citations
9.
Hendershott, Terrence & Albert J. Menkveld. (2014). Price pressures. Journal of Financial Economics. 114(3). 405–423. 193 indexed citations
10.
Brogaard, Jonathan, Terrence Hendershott, & Ryan Riordan. (2013). High Frequency Trading and the 2008 Short Sale Ban. SSRN Electronic Journal. 2 indexed citations
11.
Hendershott, Terrence & Ryan Riordan. (2013). Algorithmic Trading and the Market for Liquidity. Journal of Financial and Quantitative Analysis. 48(4). 1001–1024. 253 indexed citations
12.
Hendershott, Terrence & Ryan Riordan. (2012). Algorithmic Trading and the Market for Liquidity. SSRN Electronic Journal. 55 indexed citations
13.
Cliff, Dave, et al.. (2011). The Future of Computer Trading in the Financial Markets: Working Paper. Bristol Research (University of Bristol). 5 indexed citations
14.
Che, Yeon‐Koo & Terrence Hendershott. (2007). How to divide the possession of a football?. Economics Letters. 99(3). 561–565. 17 indexed citations
15.
Hendershott, Terrence & Mark S. Seasholes. (2007). Market Maker Inventories and Stock Prices. American Economic Review. 97(2). 210–214. 107 indexed citations
16.
Hendershott, Terrence. (2006). Economics and Information Systems. 1. 48 indexed citations
17.
Hendershott, Terrence & Jie Zhang. (2006). A Model of Direct and Intermediated Sales. Journal of Economics & Management Strategy. 15(2). 279–316. 74 indexed citations
18.
Hendershott, Terrence & Charles M. Jones. (2003). Island Goes Dark: Transparency, Fragmentation, Liquidity Externalities, and Multimarket Regulation. SSRN Electronic Journal. 12 indexed citations
19.
Barclay, Michael J., et al.. (2002). Information and Trading on Electronic Communications Networks. SSRN Electronic Journal. 9 indexed citations
20.
Hendershott, Terrence & Haim Mendelson. (2000). Crossing Networks and Dealer Markets: Competition and Performance. The Journal of Finance. 55(5). 2071–2115. 184 indexed citations

Rankless uses publication and citation data sourced from OpenAlex, an open and comprehensive bibliographic database. While OpenAlex provides broad and valuable coverage of the global research landscape, it—like all bibliographic datasets—has inherent limitations. These include incomplete records, variations in author disambiguation, differences in journal indexing, and delays in data updates. As a result, some metrics and network relationships displayed in Rankless may not fully capture the entirety of a scholar's output or impact.

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