RESEARCH SEMINARS
The purpose of the Finance Seminar Speaker series is to feature some of the best and brightest in the finance realm, encouraging finance faculty to network and embark on timely research projects.
From thoughts on the recession to bank competition to trading relationships, we host several seminar engagements per year to highlight insightful research from colleagues around the country and around the world.
Upcoming Seminar Speakers
Constantine Yannelis
Booth School of Business | University of Chicago
November 1, 2024
David Matsa
Kellogg School of Management | Northwestern University
November 8, 2024
Nadya Malenko
Carroll School of Management | Boston College
March 14, 2025
Clemens Sialm
McCombs School of Business | University of Texas at Austin
April 4, 2025
Ron Kaniel
Simon Business School | University of Rochester
April 25, 2025
Past Seminars
Toni Whited, University of Michigan
The Efficiency of Patent Litigation
Manju Puri, Fuqua School of Business, Duke University
Does Open Banking Expand Credit Access?
2024 - 2025
Song Ma, Yale School of Management, Yale University
Innovation Networks and R&D Allocation
David Schreindorfer, W. P. Carey School of Business, Arizona State University
Volatility and the Pricing Kernel
Antoinette Schoar, Sloan School of Management, Massachusetts Institute of Technology
Anatomy of a Run: The Terra Luna Crash
Michael Ewens, Columbia Business School, Columbia University
Irreplaceable Venture Capitalists
Asaf Bernstein, Leeds School of Business, University of Colorado at Boulder
The Value of Ratings: Evidence from Their Introduction in Securities Markets
Hyunseob Kim, Federal Reserve Bank of Chicago
Shareholder Power and the Decline of Labor
Mike Wittery, Ohio State University
The Consequences to Directors for Deploying Poison Pills
Lauren Cohen, Harvard Business School, Harvard University
Don’t Take Their Word for It: The Misclassification of Bond Mutual Funds
Isaac Hacamo, Kelley School of Business, Indiana University
Paper TBA
James Choi, Yale School of Management, Yale University
Paper TBA
Caroline Flammer, Questrom School of Business, Boston University
Corporate Green Bonds
Veronika Pool, Kelly School of Business, Indiana University
Out of Sight No More? The Effect of Fee Disclosures on Investment Allocations
Camille Herbert, Tilburg University
Mind the Gap: Gender Stereotypes and Entrepreneur Financing
Eileen Driscoll, Kellogg School of Business, Northwestern University
Desperate House Sellers: Distress among Developers
Danny Barth, Office of the Federal Reserve
Illiquidity in Intermediary Portfolios: Evidence from Large Hedge Funds
David Sovich, Olin Business School, Washington University in St. Louis
Unemployment Insurance, Household Finance, and the Real Economy
Johnathan Loudis, Booth School of Business, University of Chicago
Expectations in the Cross Section: Stock Price Reactions to the Information and Bias in Analyst-Expected Returns
Suzanne Chang, Stern School of Business, New York University
Local Industry Bias in Investor Behavior: Evidence from Mutual Funds
Jianan Liu, The Wharton School, University of Pennsylvania
Comovements in Arbitrage Limits
Elizabeth Berger, SC Johnson College of Business, Cornell University
Credit Where Credit Is Due: Drivers of Subprime Credit
Noah Stoffman, Kelley School of Business, Indiana University
Friends with Bankruptcy Protection Benefits
Daniel Andrei, McGill University
The Lost Capital Asset Pricing Model
Justin Murfin, SC Johnson College of Business, Cornell University
Is the Risk of Sea Level Rise Capitalized in Residential Real Estate?
Hendrik Bessembinder, Arizona State University
Why Do So Many Mutual Funds Underperform?
Mark Hutchinson, University College Cork, Ireland
Strategy Distinctiveness and Commodity Trading Advisor (CTA) Performance
Alberto Rossi, Robert H. Smith School of Business, University of Maryland
Predicting Stock Market Returns with Machine Learning
Christian Leuz, Booth School of Business, University of Chicago
The Death of a Regulator: Strict Supervision, Bank Lending, and Business Activity
Margarita Tsoutsoura, SC Johnson College of Business, Cornell University
Partisan Professionals: Evidence from Credit Rating Analysts
Geoffrey Tate, Kenan-Flagler Business School, University of North Carolina at Chapel Hill
Learning from Coworkers: Peer Effects on Individual Investment Decisions
Rich Mathews, Robert H. Smith School of Business, University of Maryland
The Limits of Reputation
Janis Skrastins, Olin School of Business, University of Washington in St. Louis
Mobility Constraints and Labor Market Outcomes: Evidence from Credit Lotteries
Alex Wagner, University of Zurich
Paths to Convergence: Stock Price Behavior after Donald Trump's Election
Jonathan Brogaard, University of Washington
The Economic Impact of Index Investing
Kate Waldock, Georgetown University
Unsecured Creditor Control in Chapter 11
Matthew Denes, Carnegie Mellon University
When Do Firms Risk Shift? Evidence from Venture Capital
Batchimeg Sambalaibat, Indiana University at Bloomington
Endogenous Specialization and Dealer Networks
Joel Hasbrouck, New York University
FX Market Metrics: New Findings Based on CLS Bank Settlement Data
Tim Loughran, University of Notre Dame
Assimilation of Oil News into Prices
Gerard Hoberg, University of Southern California
Product Life Cycles in Corporate Finance
Yaron Leitner, Federal Reserve Bank of Philadelphia
Regulating a Model
Leonidas Barbopoulos, University of St. Andrews
The Role of Earnout Financing on the Valuation Effects of Global Diversification
John Graham, Duke University
CEO Power and Board Dynamics
Sebastian Infante, Federal Reserve Board of Governors
Bond Market Intermediation and the Role of Repo
Wayne Landsman, Kenan-Flagler Business School, University of North Carolina at Chapel Hill
The Effects of Credit Default Swap Trading Initiation on Dividend Payout Policy
David Denis, University of Pittsburgh
How Do Firms Use Their Financial Flexibility?
Josh White, University of Georgia
Paper TBA
William Goetzmann, Yale University
Crash Beliefs from Investor Surveys
Mark Bradshaw, Boston College
Analyst Target Price Optimism around the World
Stefan Nagel, Ross School of Business, University of Michigan
The Making of Hawks and Doves: Inflation Experiences and Voting on the FOMC
David Robinson, Duke University
Black and White: Access to Capital among Minority-Owned Startups
Wayne Landsman, Kenan-Flagler Business School, University of North Carolina at Chapel Hill
The JOBS Act and Information Uncertainty in IPO Firms
Jesse Blocher, Vanderbilt University
The Limits to (Short) Arbitrage
Scott Yonker, SC Johnson College of Business, Cornell University
Trust Busting: The Effect of Fraud on Investor Behavior
Alex Butler, Rice University
Local Economic Consequences of Stock Market Listings
John Campbell, University of Georgia
Did Regulation Fair Disclosure Prevent Selective Disclosure? Direct Evidence from Intraday Volume and Returns
Malcolm Wardlaw, University of Texas at Dallas
How Do Employees Fare in Private Equity Buyouts? Evidence from Workplace Safety Records
Turan Bali, Georgetown University
Do the Distributional Characteristics of Corporate Bonds Predict Their Future Returns?
Karl Diether, Brigham Young University
Paper TBA
Davis Musto, The Wharton School, University of Pennsylvania
Paper TBA
Michael Ewens, California Institute of Technology
Inside Rounds and Venture Capital Returns
Krista Schwarz, The Wharton School, University of Pennsylvania
Notes on Bonds: Liquidity at all Costs in the Great Recession
Edith Hotchkiss, Boston College
Cashing Out: The Rise of M&A in Bankruptcy
Martin Schmalz, Ross School of Business, University of Michigan
Ultimate Ownership and Bank Competition
Kleopatra Nikolaou, Federal Reserve Board of Governors
Trading Relationships in the OTC Market for Secured Claims: Evidence from Triparty Repos
Anna Cieslak, Duke University
Stock Returns over the FOMC Cycle
Matthew Rhodes-Kropf, Harvard University
Cost of Experimentation and the Evolution of Venture Capital
Greg Miller, University of Michigan
Perceptions and Price: Evidence from CEO Presentations at IPO Roadshows
Bill Mayhew, Duke University
What’s in a (School) Name? Racial Discrimination in Higher Education Bond Markets
Jarrad Harford, University of Washington
Foreign Cash: Taxes, Internal Capital Markets and Agency Problems
Charles Lee, Stanford University
Do Short-Sellers Profit from Mutual Funds? Evidence from Daily Trades
Luke Taylor, The Wharton School, University of Pennsylvania
Do Funds Make More When They Trade More?
Ken Ahern, University of Southern California
Information Networks: Evidence from Illegal Insider Trading Tips
Ivan Shaliastovich, The Wharton School, University of Pennsylvania
Paper TBA
Clemens Sialm, University of Texas at Austin
It Pays to Set the Menu: Mutual Fund Investment Options in 401(k) Plans
Andrey Malenko, Massachusetts Institute of Technology
Auctions with Endogenous Initiation
Lars Keuhn, Carnegie Mellon University
A Labor Capital Asset Pricing Model
Gideon Saar, Cornell University
Hidden Liquidity: Some New Light on Dark Trading
Eugene Soltes, Harvard University
What Else Do Shareholders Want? Shareholder Proposals Contested by Firm Management
Darren Roulstone, Ohio State University
The Comovement of Investor Attention
Chris Parsons, University of California San Diego
Worrying about the Stock Market: Evidence from Hospital Admissions
Hee-Joon Ahn, Sungkyunkwan University
Paper TBA
Frederico Belo, University of Minnesota
Endogenous Dividend Dynamics and the Term Structure of Dividend Strips
Andy Lo, Massachusetts Institute of Technology
An Evolutionary Model of Bounded Rationality and Intelligence
James Thompson, University of Waterloo
Lemons and Proud of It: Information Asymmetry and Risk Transfer Markets
Dave Maber, University of Michigan
Sell-Side Information Services and Compensation for Investment Research: Evidence from Broker Votes
Dimitris Papanikolaou, Northwestern University
Technological Innovation: Winners and Losers
Sophie Shive, University of Notre Dame
When the Bellwether Dances to Noise: Evidence from Exchange-Traded Funds
Utpal Bhattacharya, Indiana University
The Dark Side of ETFs and Index Funds
Elena Simintzi, Sauder School of Business, University of British Columbia
Binding Labor Contracts, the 2008 Financial Crisis, and Firm Outcomes
Mariano M. Croce, Kenan-Flagler Business School, University of North Carolina at Chapel Hill
Fiscal Policy and the Distribution of Consumption Risk
Michael Drake, Brigham Young University
Paper TBA
Francois Cocquemas, EDHEC Business School & Owen Graduate School of Management, Vanderbilt University
Paper: Does market incompleteness matter for market microstructure?
Yael Hochberg, Massachusetts Institute of Technology & National Bureau of Economic Research
Resource Accumulation Through Economic Ties: Evidence from Venture Capital
Berk Sensoy, Ohio State University
Cyclicality, Performance Measurement, and Cash Flow Liquidity in Private Equity
Stijn Van Nieuwerburgh, New York University
Firm Volatility in Granular Networks
Edward D. Van Wesep, Kenan-Flagler Business School, University of North Carolina at Chapel Hill
The Quality of Expertise
Nicolae Gârleanu, Haas School of Business, University of California Berkeley
Financial Entanglement: A Theory of Incomplete Integration, Leverage, Crashes, and Contagion
George Skoulakis, University of Maryland
Time to Wind Down
Nick Crain, University of Texas at Austin
Career Concerns and Venture Capital
Yesol Huh, Stanford University
Machines vs. Machines: High Frequency Trading and Hard Information
Shaun Davies, University of California Los Angeles
The Economics of Discretion in Multi-Agent Decision Problems
Erik Gilje, Boston College
Does Local Access to Finance Matter? Evidence from U.S. Oil and Natural Gas Shale Booms
Tara Bhandari, Massachusetts Institute of Technology
Making the Most of Good Times: Shareholder Rights and Performance Revisited
Stefan Lewellen, Yale University
Executive Compensation and Peer Effects
Xiaofei Zhao, University of Toronto
Investor Sentiment and the Cross-Section of Stock Returns
Erin Smith, New York University
Do Shareholders Want Less Governance?
Haan Soo Lee, Harvard University
Value Access in Venture Capital
Yael Hochberg, Northwestern University
Local Overweighting and Underperformance: Evidence from Limited Partner Private Equity Investments
Lorenzo Garlappi, University of British Columbia
Corporate Innovation and Returns
Bill Megginson, University of Oklahoma
The Benefits of Underwriter Reputation to Banks and Equity Issuing Firms
Reena Aggarwal, McDonough School of Business, Georgetown University
Center for Financial Markets and Policy
John Cox, Massachusetts Institute of Technology
Absolute and Relative Consumption in an Exchange Economy
Christophe Spaenjers, HEC Paris
Expected Horizon and Household Finance
Frank Warnock, Darden School of Business, University of Virginia
On the Determinants of International Equity Investment
David Mauer, University of Texas at Dallas
Subprime Mortgage Defaults and Credit Default Swaps
Miguel Palacios, Vanderbilt University
Macroeconomic Announcements and Firm-Level Risk Characteristics
Shubo Wang, Vanderbilt University
Incomplete Information and Asset Returns in Real Business Economies
Amir Yaron, The Wharton School, University of Pennsylvania
Volatility, the Macroeconomy, and Asset Prices
Paul Schultz, University of Notre Dame
The Market for New Issues of Municipal Bonds: The Roles of Transparency and Limited Access to Retail Investors
Haim Kedar-Levy, University of Jerusalem
A Dynamic Equilibrium Model of Bubbles
Denis Sosyura, Ross School of Business, University of Michigan
Safer Ratios, Riskier Portfolios: Banks’ Response to Government Aid
Ralph Koijen, National Bureau of Economic Research
Equity Yields
Maya Eden, Massachusetts Institute of Technology & The World Bank
Financial Distortions and the Distribution of Global Volatility
Laura Casares Field, Pennsylvania State University
Are Busy Boards Detrimental?
Paul Seguin, Vanderbilt University
Hedging, Costs, Index Volatility, and the Underperformance of Leveraged Exchange-Traded Funds
Greg Waymire, Emory University
Language Sustains Trust and Cooperation Even When Uncertainty Enables Widespread Cheating on Social Contracts
Costis Skiadas, Northwestern University
Scale-Invariant Asset Pricing Theory: A General Discrete Framework with Ambiguity-Aversion Applications
Qiang Zhang, University of Leicester
Consumption, Precautionary Saving, and Market Incompleteness in a Model of Intertemporal Hedging
Tarun Ramadorai, Oxford University
Asset Fire Sales and Purchases and the International Transmission of Financial Shocks
Cathy Schrand, The Wharton School, University of Pennsylvania
Analyst Recommendations and Higher Order Beliefs: Explaining Bubbles and Price Drift
Clemens Sialm, University of Texas at Austin
Complex Mortgages
Yongxian Tan, Owen Graduate School of Management, Vanderbilt University
Debt-Equity Choice, Growth Options, and Market Timing
Nick Bollen, Owen Graduate School of Management, Vanderbilt University
Hedge Fund R2: What’s Under the Hood?
Lixiong Guo, Owen Graduate School of Management, Vanderbilt University
Board Structure and Monitoring: New Evidence from CEO Turnover
Alex Stomper, Massachusetts Institute of Technology
Snow and Leverage
Pierre Collin-Dufresne, Columbia University
On the Relative Pricing of Long Maturity S&P 500 Index Options and CDX Tranches
Peter Demerjian, Emory University
The Impact of Changes in Balance Sheet Covenant Protection on the Design of Private Loan Contracts
Tom Chang, University of Southern California
How Many Pears Would a Pear Packer Pack If a Pear Packer Could Pack Pears at Quasi-Exogenously Varying Piece Rates?
Richard C. Green, Carnegie Mellon University
Financial Expertise as an Arms Race
Shage Zhang, Owen Graduate School of Management, Vanderbilt University
Compensation Gap Among Top Executives: Tournament Competition, Marginal Productivity Differentials, or Governance Failure
Pietro Veronesi, University of Chicago
Uncertainty about Government Policy and Stock Prices
Guojin Gong, Pennsylvania State University
Relative Performance Evaluation and Related Peer Groups in Executive Compensation Contracts
Darrell Duffie, Stanford University
How Big Banks Fail and What to Do about It
David Robinson, Duke University
What Does Financial Literacy Training Teach Us?
Michael Clement, University of Texas
The Relative Profitability of Analysts’ Stock Recommendations: What Role Does Investor Sentiment Play?
Vanitha Ragunathan, University of Queensland
Is the Cross-Listing Premium an SEO Effect?
Christopher Hrdlicka, Booth School of Business, University of Chicago
Trading Volume and Time Varying Betas
Sara B. Holland, Haas School of Business, University of California Berkeley
The Welfare Implications of Health Capital Investment
Alexi Savov, Booth School of Business, University of Chicago
Free for a Fee: The Hidden Cost of Index Fund Investing
Michael Michaux, The Wharton School, University of Pennsylvania
Pass-Through, Exposure, and the Currency Composition of Debt
Mikhail Simutin, University of British Columbia
Excess Cash and Mutual Fund Performance
Nicholay Gantchev, The Wharton School, University of Pennsylvania
The Costs of Shareholder Activism: Evidence from a Sequential Decision Model
Tom Ho, Thomas Ho Company Ltd.
Valuing Contingent Claims on Natural Gas Contracts
Matt Spiegel, Yale University
Mutual Fund Risk and Market Share Adjusted Fund Flows
Dan Dhaliwal, University of Arizona
Bank Assert Securitization and Information Uncertainty
Miguel Palacios, University of California Berkeley
The Value and the Risk of Aggregate Human Capital: Implications from a General Equilibrium Model
Rose Liao, Ohio State University
Corporate Block Acquisitions Around the World
David Solomon, University of Chicago
Selective Publicity and Stock Prices
Tor-Erik Bakke, University of Wisconsin
How Does Finance Affect Growth? Evidence from a Natural Experiment in Venezuela
Ted Day, University of Texas at Dallas
Dividend Distributions and Closed-End Fund Discounts
Itshak Ben-David, Ohio State University
Does Mandated Financial Counseling Improve Mortgage Decision-Making? Evidence from a Natural Experiment
Berk Sensoy, University of Southern California
Club Deals in Leveraged Buyouts
Dirk Hackbarth, University of Illinois at Urbana-Champaign
The Timing and Returns of Mergers and Acquisitions in Oligopolistic Industries
David Musto, The Wharton School, University of Pennsylvania
High Water Marks in Competitive Capital Markets
Paolo Pasquariello, University of Michigan
Strategic Cross-Trading in the U.S. Stock Market
Rudi Fahlenbrach, Ohio State University
Estimating the Effects of Large Shareholders Using a Geographic Instrument
Vivek Ghosal, Georgia Institute of Technology
Small Is Beautiful but Size Matters: The Asymmetric Impact of Uncertainty and Sunk Costs on Small and Large Businesses
Agnes Cheng, Louisiana State University
The Role of Accruals and Cash Flows in Predicting Future Cash Flows – The Growth Effect
D. Craig Nichols, Cornell University
Stock Option Exercises and the Quality of Operating Cash Flows
Chris Parsons, University of North Carolina at Chapel Hill
Strike Three: Umpires’ Demand for Discrimination
Karin Thorburn, Dartmouth College
Markup Pricing Revisited
John Fellingham, Ohio State University
Evaluation in an Induced Moral Hazard Setting (aka An Exercise in Tension Relevance)
Audra Boone, University of Kansas
Do Private Equity Consortiums Impede Takeover Competition?
Nick Bollen, Vanderbilt University
Locked Up by a Lockup: Valuing Liquidity as a Real Option
Sukwon Thomas Kim, Vanderbilt University
Is Order Imbalance Related to Information?
Jacob Sagi, Vanderbilt University
Do Fund Managers Make Informed Asset Allocation Decisions?
Diego Garcia, University of North Carolina
Relative Wealth Concerns and Complementarities in Information Acquisition
Lakshmanan Shivakumar, London Business School
Targets’ Earnings Quality and Bidders’ Takeover Decisions
John Fellingham, Ohio State University
Paper TBA
Jarrad Harford, University of Washington
Shareholder Cross-Holdings and Their Effect on Acquisition Decisions
Steven Swidler, Auburn University
Hedging House Price Risk with CME Futures Contracts: The Case of Las Vegas Residential Real Estate
Evgeny Lyandres, Rice University
Real Options, Volatility, and Stock Returns
Mohan Venkatachalam, Duke University
The Power of Voice: Managerial Affective States and Future Firm Performance
Kathleen Hanley, Securities and Exchange Commission
Strategic Disclosure and the Pricing of Initial Public Offerings
Paige Parker Ouimet, University of Michigan
Control and Target Managerial Incentives in Acquisition Decisions
Toni Whited, University of Wisconsin
Which Firms Follow the Market? An Analysis of Corporate Investment Decisions
Shang-Jin Wei, Columbia University
Growth Potential and Corporate Disclosure: The Case of Foreign Trade Liberalization
Ran Duchin, University of Southern California
Cash Holdings and Corporate Diversification
Ilya Strebulaev, Stanford University
The Evolution of Aggregate Stock Ownership: A Unified Explanation
Karthik Krishnan, Boston College
Universal Banking, Private Information, and Incentive Problems: What Do Ex-Post Lending Patterns Tell Us?
Amir Barnea, University of Texas at Austin
Director Networks and Firm Governance
Lars-Alexander Kuehn, University of British Columbia
Asset Pricing with Real Investment Commitment
Manju Puri, Duke University
Paper TBA
Andrea Eisfeldt, Northwestern University
Financing Shortfalls and the Value of Aggregate Liquidity
Itay Goldstein, The Wharton School, University of Pennsylvania
Payoff Complementarities and Financial Fragility: Evidence from Mutual Fund Outflows
Timothy Johnson, University of Illinois
Liquid Capital and Market Liquidity
Ayako Yasuda, The Wharton School, University of Pennsylvania
The Economics of Private Equity Funds
William Megginson, University of Oklahoma
Dividends and Share Repurchases in the European Union
Luke Froeb, Vanderbilt University
Evaluating Mergers Among Firms that Manage Revenue
Shawn Mobbs, Vanderbilt University
Tournaments, Heirs, and Organizational Structure
Jaime Zender, University of Colorado
A Simple-But-Powerful Test for Long-Run Event Studies
Simon Gervais, Duke University
Overconfidence, Investment Policy and Manager Welfare
Nick Bollen, Vanderbilt University
Do Hedge Fund Managers Misreport Returns? Evidence from the Pooled Distribution
Ron Masulis, Vanderbilt University
Corporate Venture Capital, Strategic Alliances, and the Governance of Newly Public Firms