Past Seminars
FALL 2023 SEMINAR SERIES
Seminars are held on Fridays at 1:45 p.m. in Bartley 2010.
| DATE | PRESENTER | |
|---|---|---|
| November 10, 2023 | James Vickery Federal Reserve Bank of Philadelphia |
|
| December 1, 2023 | Wei Wang Queen's University |
PRESENTER BIOGRAPHIES
James Vickery is a Senior Economic Advisor and Economist at the Federal Reserve Bank of Philadelphia and an Adjunct Associate Professor of Real Estate at the Wharton School, University of Pennsylvania. Prior to those roles, James was an Assistant Vice President and Senior Economist at the Federal Reserve Bank of New York. He has contributed to a range of Federal Reserve policy initiatives, including serving as Deputy Chair of the Model Oversight Group overseeing the Fed's bank supervisory stress tests.
James Vickery’s research focuses on financial intermediation, real estate finance and banking, with a focus on mortgage and MBS markets. He has published in the Review of Financial Studies, Journal of Financial Economics, American Economic Journal: Applied Economics, and other leading finance and economics journals. James is an Associate Editor of the Journal of Financial Economics and the Journal of Financial Intermediation. He earned a Ph.D. in Economics at the Massachusetts Institute of Technology a Bachelor of Economics at the University of New South Wales.
Wei Wang is a Distinguished Professor of Finance and Associate Dean (Professional Graduate Programs) at the Smith School of Business, Queen’s University, Canada. He is an expert on global corporate restructuring, bankruptcy, and leveraged finance. In addition to his academic research, Wei served on the Large Corporations Committee of the Bankruptcy & COVID-19 Working Group and authored a leading textbook “Corporate Financial Distress, Restructuring, and Bankruptcy” published by Wiley. Prior to his academic career, Wei worked in commodity derivative trading and a fintech startup.
Wei Wang’s research focuses on corporate restructuring, bankruptcy, leveraged finance, governance, and financial regulation. He has published in the Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Management Science, and other leading finance journals. Wei earned Ph.D. in Finance at Queen’s University and a BSc in Urban Planning and Civil Engineering at Northwest University.
SPRING 2022 SEMINAR SERIES
| DATE | PRESENTER | PAPER |
|---|---|---|
| September 30, 2022 |
Stanislava (Stas) Nikolova University of Nebraska - Lincoln |
Corporate Bond Flipping |
| November 4, 2022 |
Robert Marquez University of California, Davis |
Loan guarantees, bank underwriting policies and financial fragility |
PRESENTER BIOGRAPHIES
Stas Nikolova is an Associate Professor of Finance at the University of Nebraska-Lincoln. Prior to joining UNL, she was a Senior Financial Economist in the Division of Economic and Risk Analysis at the U.S. Securities and Exchange Commission (SEC). In that capacity, she advised the SEC on rules governing the issuance of fixed-income securities, the disclosure and offering process of asset-backed securities, the registration of municipal advisers, the integrity of credit ratings, and the management and accountability of nationally recognized statistical rating organizations (NRSROs).
Her research focuses on various aspects of fixed-income markets, including regulating these markets and investing in them. She is an Associate Editor of the Quarterly Journal of Finance, and Secretary of the Midwest Finance Association.
Robert S. Marquez is a Professor of Finance at University of California, Davis. Before graduate school, Marquez worked for several years for the Federal Reserve in San Francisco. He subsequently held academic positions at University of Maryland, Arizona State University, and Boston University.
A leading expert in banking and corporate finance, Professor Robert Marquez tries to uncover the mechanisms that underlie the behavior of financial institutions. His study “Lending Booms and Lending Standards,” published in the Journal of Finance, offered an explanation for the sequence of financial liberalization, lending booms and banking crises observed in many emerging markets.
He currently serves as the associate editor for Management Science and Quarterly Journal of Finance. He is also the co-editor for Journal of Financial Services Research.
SPRING 2023 SEMINAR SERIES
| DATE | PRESENTER | PAPER |
|---|---|---|
| January 27, 2023 | Marina Niessner University of Pennsylvania |
Are Cryptos Different? Evidence from Retail Trading |
| February 10, 2023 | Nadya Malenko University of Michigan |
Creating Controversy in Proxy Voting Advice |
| March 24, 2023 | William Goetzmann Yale University |
Crash Narratives |
| April 28, 2023 | Jennie Bai Georgetown University |
The Value of Data to Fixed Income Investors |
PRESENTER BIOGRAPHIES
Marina Niessner is the Judith C. and William G. Bollinger Visiting Associate Professor of Finance at the University of Pennsylvania’s Wharton School. Prior to joining Wharton, she was a Vice President at AQR Capital Management, and prior to that an Assistant Professor of Finance at the Yale School of Management.
Her main academic research interests are behavioral finance, social media in financial markets, and FinTech. In her recent work, she applies methods from linguistic psychology to identify fake news articles on knowledge sharing platforms, and to examine their impact on financial markets. She is currently the associate editor for Annual Review of Fintech.
Nadya Malenko is an Associate Professor of Finance and the Faculty Director of the FinTech Initiative. Prior to joining the University of Michigan, she was an Associate Professor at Boston College’s Carroll School of Management, where she received a distinguished teaching award.
Her research interests are in the areas of corporate finance, corporate governance, and private equity. She has examined shareholder voting, the design of corporate boards in public firms and VC-backed startups, shareholder activism, and organizational design.
She is currently an Associate Editor at the Journal of Finance, Journal of Financial Economics, and Journal of Financial and Quantitative Analysis, and she serves on the board of directors of the Western Finance Association, European Finance Association, and Financial Management Association.
William N. Goetzmann is the Edwin J. Beinecke Professor of Finance and Management Studies and Faculty Director of the International Center for Finance at the Yale School of Management. He is a Research Associate of the National Bureau of Economic Research and has served as the president of the Western Finance Association and the European Finance Association.
Professor Goetzmann is an expert on a diverse range of investments. His past work includes studies of stock market predictability, hedge funds, and survival biases in performance measurement. His current research focuses on alternative investing, factor investing, behavioral finance and the art market. Professor Goetzmann has written and co-authored a number of books, including Modern Portfolio Theory and Investment Analysis (Wiley, 2014), The Origins of Value: The Financial Innovations that Created Modern Capital Markets (Oxford, 2005), The Great Mirror of Folly: Finance, Culture and the Crash of 1720 (Yale, 2013) and most recently, Money Changes Everything: How Finance Made Civilization Possible (Princeton, 2016).
Jennie Bai is a Professor of Finance at the McDonough School of Business at Georgetown University. She is also a research associate in the asset pricing program at the National Bureau of Economic Research (NBER). Before joining Georgetown, she was an economist at the Federal Reserve Bank of New York. She was also an Advisory Council Member at the Board of Governors of the Federal Reserve System during 2017-2020 with the main responsibility of providing advice on the stress test and bank regulation.
Her research focuses on the credit market, in particular the debt pricing of corporate bonds, government bonds, and bank loans, and the investment behavior of institutional debt investors such as mutual funds and insurance companies. She also conducts research on banking, information economics, and ESG.
Currently, she serves as the Associate Editor of the Journal of Financial Economics, Management Science, Journal of Financial Intermediary, and Journal of Credit Risk.
SPRING 2022 SEMINAR SERIES
| PRESENTER | PAPER |
|---|---|
| Stanislava (Stas) Nikolova University of Nebraska - Lincoln |
Postponed |
| Kimberly Cornaggia & Jess Cornaggia Pennsylvania State University |
Trouble at Home: Financial Constraints and Human Capital Formation |
PRESENTER BIOGRAPHIES
Stas Nikolova is an Associate Professor of Finance at the University of Nebraska-Lincoln. Prior to joining UNL, she was a Senior Financial Economist in the Division of Economic and Risk Analysis at the U.S. Securities and Exchange Commission (SEC). In that capacity, she advised the SEC on rules governing the issuance of fixed-income securities, the disclosure and offering process of asset-backed securities, the registration of municipal advisers, the integrity of credit ratings, and the management and accountability of nationally recognized statistical rating organizations (NRSROs).
Her research focuses on various aspects of fixed-income markets, including regulating these markets and investing in them. She is an Associate Editor of the Quarterly Journal of Finance, and Secretary of the Midwest Finance Association.
Kimberly Cornaggia is the Louis R. & Virginia A. Benzak Professor of Finance at the Pennsylvania State University. Professor Cornaggia conducts empirical research concerned with predicting, measuring, and resolving financial distress. She has particular interest in the efficacy of credit rating agencies as information intermediaries, the role of ratings in regulatory and contractual requirements, and the real effects of ratings on debt issuers. Related interests include the impact of accounting conservatism on common performance and risk metrics, and the information environment of municipal debt markets.
She earned her Bachelor of Science at the University of Nebraska, where she studied actuarial science, economics, insurance, and finance. She earned her Ph.D. in Finance at Purdue University, and has since enjoyed academic appointments at the College of William and Mary, New York University, American University, and Indiana University. Dr. Cornaggia has taught a wide array of courses at the graduate and undergraduate levels including corporation finance, corporate restructuring, equity valuation, multinational finance, and capital markets. Non-academic experience includes analyzing asset-backed securities markets and the credit ratings industry for the Office of Economic Analysis at the US Securities and Exchange Commission, first in 2003-2004 and later in 2007-2008.
Jess Cornaggia is the Alumni Professor of Finance at the Pennsylvania State University's Smeal College of Business. He conducts empirical research in the areas of corporate finance, financial intermediation, credit ratings, and household finance.
Professor Cornaggia earned his Ph.D. at the University of Texas at Dallas. He is an Associate Editor of Management Science and Journal of Banking and Finance.
FALL 2021 SEMINAR SERIES
| DATE | PRESENTER | PAPER |
|---|---|---|
| September 24, 2021 | Shaun Davies University of Colorado at Boulder |
Index-Linked Trading and Stock Returns |
| October 29, 2021 | Ben Keys University of Pennsylvania |
The Cost of Consumer Collateral: Evidence from Bunching |
| November 5, 2021 | Andy Puckett University of Tennessee |
TAXI! Do Mutual Funds Pursue and Exploit Information on Local Companies? |
PRESENTER BIOGRAPHIES
Shaun Davies is an Associate Professor of Finance and the Research Director of the Burridge Center for Finance at the Leeds School of Business, University of Colorado at Boulder. He earned his MBA and PhD from the University of California, Los Angeles and two bachelor’s degrees from the University of Colorado at Boulder. Professor Davies is also a CFA charterholder, and previously worked as a fixed income research analyst at Smith Breeden Associates, Inc.
Professor Davies’ research focuses on asset management, ETFs, target-date funds, socially responsible investing, and crowdfunding. His research has appeared in prestigious journals such as the American Economic Journal: Microeconomics, Journal of Financial Economics, and the Review of Financial Studies.
Ben Keys is the Rowan Family Foundation Professor of Real Estate at the Wharton School of the University of Pennsylvania. Prior to joining Wharton’s Real Estate department, Professor Keys was an Assistant Professor at the University of Chicago. Earlier, he worked as a staff economist at the Board of Governors of the Federal Reserve System in the Division of Research and Statistics and a senior research assistant at the Brookings Institution. He earned his MA and PhD in economics from the University of Michigan and his BA from Swarthmore College.
Professor Keys’ research interests are in household finance, mortgage finance, real estate, applied econometrics, labor economics, and urban economics. His research has been published in several journals including the Quarterly Journal of Economics, American Economic Review, Journal of Financial Economics, and Review of Financial Studies. Professor Keys is also a Faculty Research Fellow of the National Bureau of Economic Research (NBER), a Faculty Fellow of the Center for Financial Security at the University of Wisconsin-Madison, and a member of the Academic Research Council of the Housing Finance Policy Center at the Urban Institute.
Andy Puckett is a Professor and Finance PhD Program Director in the Department of Finance at the University of Tennessee. Puckett joined the UT faculty in 2009, after having served on the faculty at the University of Missouri. He received his PhD in Finance from the University of Georgia and his undergraduate degree in Finance from Auburn University.
Professor Puckett’s primary research interests are in the areas of institutional investing, analysts, taxes, and market microstructure. He has published in the Journal of Finance, Review of Financial Studies, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Review of Accounting Studies, Management Science, Journal of Corporate Finance, and other leading finance and accounting journals.
FALL 2019 SEMINAR SERIES
| DATE | PRESENTER | PAPER |
|---|---|---|
| September 13, 2019 | Shimon Kogan Massachusetts Institute of Technology (MIT) |
Responsible Investing and Investment Decision-making |
| October 4, 2019 | George Aragon Arizona State University |
Socially Responsible Investments: Costs and Benefits for University Endowment Funds* |
| October 11, 2019 | Mila Getmansky Sherman University of Massachusetts at Amherst |
Pitfalls of Central Clearing in the Presence of Systematic Risk |
| February 14, 2020 | Christa Bouwman Texas A&M University |
TBD |
| April 3, 2020 | Andy Puckett University of Tennessee |
TBD |
| April 24, 2020 | Susan Christoffersen University of Toronto |
TBD |
PRESENTER BIOGRAPHIES
Shimon Kogan is a Visiting Associate Professor in Finance at the MIT Sloan School of Management. He is a permanent finance faculty member at IDC Herzliya, and was previously on the faculty at Carnegie Mellon University, and the University of Texas at Austin. He has also been a visiting faculty member at The Wharton School, University of Pennsylvania. He has also held a number of investment management positions and has consulted to hedge funds. He earned his MBA and PhD from the University of California, Berkeley and his BA from Tel Aviv University.
Professor Kogan's research focuses on behavioral finance with application to asset pricing. He is interested in understanding how information is processed in markets and his approach is interdisciplinary, integrating tools and insights from both psychology and computer science. His research has appeared in some of the profession's top journals such as The Review of Financial Studies, The Journal of Finance, and the American Economic Review.
Professor Aragon has published articles in the Journal of Financial Economics, the Review of Financial Studies, Journal of Financial and Quantitative Analysis, among others. In addition, he served as a visiting academic scholar at the U.S. Securities and Exchange Commission.
Mila Getmansky Sherman is a Professor of Finance at the Isenberg School of Management at UMass Amherst. She specializes in empirical asset pricing, hedge funds, performance of investment trading strategies, financial institutions, systemic risk, and system dynamics. She received a B.S. degree in Chemical Engineering and Minor in Economics from MIT and a Ph.D. degree in Management from the MIT Sloan School of Management. She was also a post-doctoral fellow at the MIT Lab for Financial Engineering.
Professor Getmansky Sherman is an active faculty member of the Center for International Securities and Derivatives Markets (CISDM) at UMass Amherst. Her work has been published in several journals including the Journal of Financial Economics, Review of Financial Studies, Financial Analysts Journal, and the Journal of Investment Management. Professor Getmansky Sherman is an associate editor of the Journal of Alternative Investments.
Christa Bouwman is Associate Professor of Finance and Patricia & Bookman Peters Professor of Finance at Mays Business School at Texas A&M University; Fellow of the Wharton Financial Institutions Center at the University of Pennsylvania; and Research Associate at the Federal Reserve Bank of Cleveland. Bouwman was Associate Professor of Banking & Finance at Case Western Reserve University where she also held the Lewis-Progressive Chair; Visiting Assistant Professor of Finance at MIT’s Sloan School of Management; and Visiting Scholar at the Federal Reserve Bank of Boston and the Federal Reserve Board in Washington D.C. She received a Ph.D. in Finance from the University of Michigan, an MBA from Cornell University, and a B.A./M.A. in Economics and Business (cum laude) from the University of Groningen – the Netherlands.
Professor Bouwman’s research interests are in Financial Intermediation and Corporate Finance. She is Co-Editor-in-Chief of the Journal of Financial Intermediation. She is former Associate Editor of the Journal of Banking & Finance, the Journal of Financial Intermediation, the Review of Finance, and Corporate Governance: An International Review. Her research papers have been published in the American Economic Review, Journal of Financial Economics, Review of Financial Studies, Journal of Financial Intermediation, Journal of Financial Stability, Journal of Banking & Finance, and MIT / Sloan Management Review. She is a co-author of “Bank Liquidity Creation and Financial Crises” (Elsevier).
Andy Puckett is a Professor and Finance PhD Program Director in the Department of Finance at the University of Tennessee. Puckett joined the UT faculty in 2009 and teaches both undergraduate and graduate students in the areas of Investments and Derivatives. He received his Ph.D. in Finance from the University of Georgia and his undergraduate degree in Finance from Auburn University.
Professor Puckett’s primary research interests are in the areas of institutional investing, analysts, taxes, and market microstructure. He has published in the Journal of Finance, Review of Financial Studies, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Review of Accounting Studies, Management Science, Journal of Corporate Finance, and other leading finance and accounting journals.
Susan Christoffersen is a Professor of Finance at the University of Toronto. Her research focuses on mutual funds and the role of financial institutions in capital markets. She has published in top finance journals and cited in The New York Times, International Herald Tribune, Bloomberg News Service, and The Wall Street Journal. Susan has received grants from SSHRC, IFM2, and FQRSC and research awards from Q-Group, Bank of Canada, BSI Gamma Foundation, INQUIRE, and the Swiss Finance Institute. Susan was awarded the Limited Term Professorship by the Canadian Securities Institute Research Foundation in 2005.
FALL 2018 SEMINAR SERIES
| DATE | PRESENTER | PAPER |
|---|---|---|
| September 21, 2018 | George Pennacchi University of Illinois |
Who Bears the Burden of Banks’ Corporate Taxes? |
| September 28, 2018 | Joseph (Joey) Engelberg University of California, San Diego |
Analysts and Anomalies |
| November 30, 2018 | Jarrad Harford University of Washington |
International Trade and the Propagation of Merger Waves |
SPRING 2019 SEMINAR SERIES
| DATE | PRESENTER | PAPER |
|---|---|---|
| March 29, 2019 | Audra Boone Texas Christian University |
Product Differentiation, Benchmarking, and Corporate Fraud |
| April 5, 2019 | Nicole (Niki) Boyson Northeastern University |
The worst of both worlds? Dual-registered investment advisers |
PRESENTER BIOGRAPHIES
George G. Pennacchi
George G. Pennacchi is the Fred S. Bailey Professor of Money, Banking, and Finance at the University of Illinois. His research focuses on financial institutions, fixed-income securities, and government guarantees. He is a Research Associate at the Federal Reserve Bank of Cleveland, a Visiting Scholar at the Federal Reserve Bank of New York, and a Scientific Advisor to the BAFFI CAREFIN Centre at Bocconi University. He was President of the Financial Intermediation Research Society and served on the editorial boards of several journals including the Journal of Financial Intermediation, the Journal of Finance, the Journal of Financial and Quantitative Analysis, and the Review of Financial Studies. He has consulted for the Federal Deposit Insurance Corporation, the U.S. Office of Management and Budget, the World Bank, the International Monetary Fund, and the Federal Reserve Board of Governors. Previous faculty appointments were at the Wharton School of the University of Pennsylvania and Bocconi University.
Professor Pennacchi received a Sc.B. degree in applied mathematics from Brown University and a Ph.D. in economics from the Massachusetts Institute of Technology.
Joseph (Joey) Engelberg
Professor Joseph (Joey) Engelberg is a Professor of Finance at the Rady School of Management at the University of California, San Diego. Professor Engelberg's research focuses on the way information is disseminated among market participants, especially by financial media and social networks. His research has been published in the Journal of Economic Perspectives, Journal of Finance, Journal of Financial Economics, and Review of Financial Studies. His paper entitled “Journalists and the Stock Market” won the RFS Michael Brennan Best Paper Award.
Professor Engelberg earned his Ph.D. in Finance from the Kellogg School of Management at Northwestern University and earned his B.A. in Mathematics and B.S. in Business Administration from the University of Southern California. Prior to joining the Rady School of Management, Engelberg was an Assistant Professor of Finance at the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill.
Jarrad Harford
Professor Harford is the Paul Pigott-PACCAR Professor in Business Administration and Chair of the Department of Finance and Business Economics at the University of Washington’s Foster School of Business. Prior to Washington, Professor Harford taught at the Lundquist College of Business at the University of Oregon. Professor Harford earned his Ph.D. in Finance with a minor in Organizations and Markets from the University of Rochester.
Professor Harford is currently a Managing Editor of the Journal of Financial and Quantitative Analysis and serves as an Associate Editor for the Journal of Financial Economics and the Journal of Corporate Finance. His main research interests are understanding the dynamics of merger and acquisition activity as well as the interaction of corporate cash management policy with governance, payout and global tax considerations. Professor Harford co-authored the textbook “Fundamentals of Corporate Finance”, which is part of the Pearson Series in Finance and currently in its 4th edition.
Audra Boone
Professor Audra Boone holds the C.R. Williams Professorship in Financial Services at Texas Christian University’s Neeley School of Business. Previously, she held academic positions at Texas A&M University, University of Kansas, and the College of William & Mary. In addition to this, she has also worked at the U.S. Securities and Exchange Commission. She obtained her Ph.D. in Finance from the Pennsylvania State University.
Professor Boone’s research interests are mergers and acquisitions, corporate governance, and disclosure. Her research has been published in the Journal of Financial Economics, Review of Financial Studies, Journal of Financial and Quantitative Analysis, and the Journal of Corporate Finance. She is currently an Associate Editor for the Journal of Corporate Finance.
Nicole (Niki) Boyson
Professor Nicole (Niki) Boyson is a Professor of Finance at the D’Amore-McKim School of Business at Northeastern University. Previously, Professor Boyson was an Assistant Professor at Purdue University, a manager for Ernst & Young, the VP of Investments for Pension Consulting Services, an analyst for Third Federal Savings and Loan, and a senior accounting at KPMG Peat Marwick. She obtained her Ph.D. in Finance from The Ohio State University.
Professor Boyson's research and teaching interests fall in the area of investments and corporate finance, with a focus on regulatory arbitrage, hedge fund management, and hedge fund activism. Professor Boyson serves on the Editorial Board of the Financial Analysts Journal, has served on the board of the Midwest Finance Association, has been a member of numerous program committees of professional organizations, and acts as an ad-hoc referee for journals including The Journal of Finance, Review of Financial Studies, Journal of Financial Economics, and The Journal of Financial and Quantitative Analysis.
FALL 2017 SEMINAR SERIES
| DATE | PRESENTER | PAPER |
|---|---|---|
| September 22, 2017 | Adam Reed University of North Carolina at Chapel Hill |
"Anomaly Time" |
| October 20, 2017 | Ronnie Sadka Boston College |
Media reinforcement in international financial markets |
| November 17, 2017 | Avanidhar Subrahmanyam University of California, Los Angeles |
"Return-Based Factors for Corporate Bonds" |
| December 1, 2017 | David Harrison University of Central Florida |
The Impact of Intrafirm Distance on Stock Market Liquidity |
SPRING 2018 SEMINAR SERIES
| DATE | PRESENTER | PAPER |
|---|---|---|
| February 9, 2018 | Itay Goldstein The Wharton School, University of Pennsylvania |
Monetary Stimulus and Bank Lending |
| March 16, 2018 | Clemens Sialm University of Texas at Austin |
Institutional Trading Around M&A Announcements |
| April 13, 2018 |
Gjergji Cici College of William and Mary |
Do Connections with Buy-Side Analysts Inform Sell-Side Analyst Research? |
| April 27, 2018 | Heather Tookes Yale University |
Systematic Liquidity and Leverage |
PRESENTER BIOGRAPHIES
Adam Reed
Adam Reed, Professor of Finance and the Julian Price Distinguished Scholar of Finance at the University of North Carolina, Chapel Hill, researches short selling, equity lending, capital markets and mutual funds. The Journal of Finance, The Journal of Financial Economics and the Review of Financial Studies have published his research, which also has been featured in several books. The Wall Street Journal, Bloomberg and The New York Times have cited his research. He is also a research consultant for the Securities and Exchange Commission, and worked as a research assistant for the Board of Governors of the Federal Reserve System.
Adam has spoken at conferences hosted by organizations across the United States and around the world, including for Goldman Sachs Asset Management, National Bureau of Economic Research, Securities and Exchange Commission, Board of Governors of the Federal Reserve, New York Federal Reserve, Mellon Bank, Pension Investment Association of Canada, Financial Management Association, European Finance Association and the American Finance Association. He is also a member of the board of academic directors for Quadriserv Inc., and serves on the board of directors for Polyglot and the N.C. State Employees Credit Union Local Advisory Board.
Avanidhar (Subra) Subrahmanyam
Avanidhar (Subra) Subrahmanyam is a Distinguished Professor of Finance and the Goldyne and Irwin Hearsh Chair in Money and Banking at UCLA, Anderson School of Management. Professor Subrahmanyam is an expert in stock market activity and behavioral finance. He is known for his pathbreaking research in the use of psychological principles to explain stock price movements and has published numerous articles in leading peer-reviewed finance and economics journals. Appearing frequently in the media, Subrahmanyam is consulted for his expertise on the superior performance of value stocks and the phenomenon of stock market momentum to analyze spikes in gasoline prices, herd-like behavior around Apple stock, uncertainty in everyday use of the bitcoin crypto-currency and the effects of war on the stock market.
Subrahmanyam’s current research interests range from the relationship between the trading environment of a firm’s stock and the firm’s cost of capital to behavioral theories for asset price behavior and empirical determinants of the cross-section of equity returns. A founding editor of the Journal of Financial Markets, Subrahmanyam previously served as associate editor of the Review of Financial Studies and the Journal of Finance. He is a member of the National Bureau of Economic Research’s Working Research Group on Market Microstructure.
Ronnie Sadka
Professor Ronnie Sadka is the senior associate dean for faculty, chairperson and professor of Finance, and the Seidner Family Faculty Fellow at the Carroll School of Management, Boston College. His research focuses on the liquidity in financial markets. More recently, he has been developing big-data driven investment applications. Sadka is a frequent speaker at academic and practitioner conferences; his work has appeared in various outlets including Journal of Finance, Journal of Financial Economics, Journal of Accounting Research, Journal of Accounting and Economics, Journal of Financial and Quantitative Analysis, and Financial Analysts Journal, and has been covered by New York Times, Wall Street Journal, and CNBC.
Prior academic experience includes teaching at the University of Chicago (Booth), New York University (Stern), Northwestern University (Kellogg), and the University of Washington (Foster). Industry experience includes Goldman Sachs Asset Management and Lehman Brothers (quantitative strategies). Sadka recently served on the economic advisory board of NASDAQ OMX. Professor Sadka earned a B.Sc. (Magna Cum Laude) in industrial engineering and a M.Sc. (Summa Cum Laude) in operations research, both from Tel-Aviv University. He received a Ph.D. in finance from Northwestern University (Kellogg).
David Harrison
Professor David M. Harrison, Ph.D., is the Howard Philips Eminent Scholar Chair and Professor of Real Estate in the Dr. P. Phillips School of Real Estate at the University of Central Florida (UCD), and the former president of the American Real Estate Society (ARES). His primary research interests involve real estate investment trusts and mortgage markets. He is the author of over 40 peer-reviewed journal articles, including numerous publications in leading academic real estate outlets such as Real Estate Economics, Journal of Real Estate Finance and Economics, Journal of Real Estate Research, and Journal of Urban Economics. 11 of these articles received “best paper” awards. In 2007, Professor Harrison was awarded the William N. Kinnard award by the American Real Estate Society, in recognition of “substantial contributions to the field of real estate research achieved under the age of 40.”
Professor Harrison received his Ph.D. from the University of Florida, and prior to joining the faculty at UCF was on faculty at Texas Tech and the University of Vermont.
Itay Goldstein
Itay Goldstein is the Joel S. Ehrenkranz Family Professor in the Finance Department at the Wharton School of the University of Pennsylvania. He is also the coordinator of the Ph.D. program in Finance. He holds a secondary appointment as a Professor of Economics at the University of Pennsylvania. He has been on the faculty of the Wharton School since 2004. Professor Goldstein earned his Ph.D. in Economics in 2001 from Tel Aviv University. He is an expert in the areas of corporate finance, financial institutions, and financial markets, focusing on financial fragility and crises and on the feedback effects between firms and financial markets. His research has been published in top academic journals, including the American Economic Review, the Journal of Finance, the Journal of Financial Economics, the Review of Economic Studies, and the Review of Financial Studies. His research has also been featured in the popular press in the Economist, Wall
Street Journal, Financial Times, Bloomberg, Forbes, National Public Radio, and others. Professor Goldstein is an editor of the Review of Financial Studies. He has been an editor of the Finance Department in Management Science and an editor of the Journal of Financial Intermediation. He has served as an academic advisor at the Federal Reserve Banks of New York, Philadelphia, and Richmond, the Bank of Canada, and the Committee for Capital Markets Regulation.
He was the cofounder and the first president of the Finance Theory Group. He has taught various undergraduate, M.B.A., Ph.D., and executive education courses in finance and economics. Prior to joining Wharton, Professor Goldstein has served on the faculty of Duke University’s Fuqua School of Business. He received his Ph.D, M.A and B.A from Tel-Aviv University and has also worked in the research department of the bank of Israel.
Clemens Sialm
Clemens Sialm is a Professor of Finance and Economics, the Eleanor T. Mosle Fellow, and the Director of the AIM Investment Center at the University of Texas at Austin. He is also a Research Associate in the Asset Pricing and Public Economics programs of the National Bureau of Economic Research (NBER). Professor Sialm’s research interests are in the areas of investments, asset pricing, and taxation. He analyzes the investment strategies, performance, and behaviors of institutional and individual investors. He also investigates investment decisions of retirement savers. His research has been published in the American Economic Review, the Journal of Finance, the Review of Financial Studies, Management Science, and the Journal of Public Economics, among others. He obtained in 2011 the Research Excellence Award from the McCombs School of Business. Professor Sialm’s research has been frequently cited in The Wall Street Journal, The New York Times, and The Economist.
Professor Sialm received an M.A. in economics from the University of St.Gallen in Switzerland and a Ph.D. in economics from Stanford University. Prior to joining the University of Texas, he taught at Stanford University and the University of Michigan in Ann Arbor. He has also been the the Mark and Sheila Wolfson Distinguished Visiting Associate Professor at the Stanford Institute for Economic Policy Research.
Gjergji Cici
Gjergji Cici is the Thomas L. Owen Professor of Finance and Associate Professor at the Raymond A. Mason School of Business of the College of William and Mary. Professor Cici is also a Research Fellow at the Centre for Financial Research at the University of Cologne, Germany. Professor Cici's current research interests include portfolio performance evaluation, agency issues in the mutual fund and hedge fund industry, and behavioral finance. His research has been published in The Journal of Financial Economics, Review of Financial Studies, Journal of Financial and Quantitative Analysis, Real Estate Economics, Journal of Financial Intermediation, and Journal of Banking and Finance. His paper on the pricing practices of mutual funds won the Society of Quantitative Analysts Award for the best paper in quantitative investments at the Western Finance Association 2008 Conference. Professor Cici's research has been featured in more than 30 articles in the business press, including the Financial Times, New York Times, Wall Street Journal, Barron's, Bloomberg, and Pensions & Investments.
Professor Cici received his Ph.D. in Finance from the University of Minnesota's Carlson School of Management. After receiving his doctorate, he became Associate Director of Research for Wharton Research Data Services (WRDS) at the Wharton School of Business.
Heather Tookes
Heather Tookes is a Professor of Finance at the Yale School of Management. Professor Tookes’ research lies at the intersection of capital markets and corporate finance. Much of her earlier work focuses on understanding the ways in which credit market frictions can impact firms’ financing decisions. She has a particular interest in credit default swap and convertible bond markets. In another line of research, Professor Tookes has linked firms’ competition in product markets to various aspects of corporate finance. For example, she has a recent paper that identifies the effects of initial public offerings on rival firms.
Professor Tookes has been on the faculty of Yale School of Management since 2004. She received her Ph.D. in Finance from Cornell and her B.A. in Economics from Brown.