Office: COBA 626

Phone: 817-272-0518



Dr. Hayunga is an Associate Professor in the Finance and Real Estate department. He is also the current finance Ph.D. program advisor.

Prior to joining UTA, Dr. Hayunga earned his Ph.D. from Louisiana State University where he studied finance, real estate, and spatial statistics. Dr. Hayunga holds an MBA from the College of William and Mary. He also has over 10 years of work experience including President and Certified Financial Planner of a Registered Investment Advisory firm and as a consultant in the information technology industry.

Research Interests

Real estate, financial investments and options, and spatial statistics

Selected Publications

Hayunga, Darren and Peter Lung. "Trading in the Options Market around the Financial Analysts’ Consensus Revision." Journal of Financial and Quantitative Analysis, forthcoming.

Hayunga, Darren, Richard Holowczak, Peter Lung, and Takeshi Nishikawa. "Derivatives Traders' Reaction to Mispricing in the Underlying Equity." Journal of Banking and Finance 36 (2012), 2438-2454.

Hansz, Andrew and Darren Hayunga. "Club Good Influence on Residential Transaction Prices." Journal of Real Estate Research 34, no 4 (2012), 549-575.

Hayunga, Darren and Peter Lung. "Explaining Mispricing using the Resale Option and Inflation Illusion." Real Estate Economics 39, no 2 (2011), 313-344.

Hayunga, Darren and Kelley Pace. "Spatial Statistics Applied to Commercial Real Estate." Journal of Real Estate Finance and Economics 41, no 2 (2010), 103-125. Appendix

Hayunga, Darren and Clifford Stephens. "Dividend Behavior of U.S. Equity REITs." Journal of Property Research 26, no 2 (2009), 105-123.

Julian Diaz, Andrew Hansz, Matthew Cypher, and Darren Hayunga. "Conservation Status and Residential Transaction Prices: Initial Evidence from Dallas, Texas." Journal of Real Estate Research 30, no 2 (2008), 225-247.

Curriculum Vitae