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Alex Edmans Assistant Professor of Finance NBER Faculty Research Fellow ECGI Research Associate   The Wharton School University of Pennsylvania 2318 Steinberg Hall - Dietrich Hall 3620 Locust Walk Philadelphia, PA 19104-6367 Phone: (215) 746-0498 Fax: (215) 898-6200 aedmans<at>wharton<dot>upenn<dot>edu

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Recent Changes / Additions:

December 11: New survey paper on The Real Effects of Financial Markets, at the intersection of asset pricing and corporate finance
November 11: New working paper, Contracting With Synergies
October 11: New working paper, Feedback Effects and the Limits to Arbitrage
August 11: New working paper, The Effect of Liquidity on Governance.
June 11: A primer on tractable incentive contracts. Brief, non-technical summary of a framework that delivers tractable contracts in broad settings that require few restrictions on the utility function, cost function and noise distribution, and are achievable in discrete time.
May 11: Data on mutual fund forced selling used in The Real Effects of Financial Markets: The Impact of Prices on Takeovers (JF, forthcoming). This a non-fundamental shock to firm valuation caused by mutual funds' forced selling of a stock in response to withdrawals by their own investors. It is a potential instrument for firm valuation that may be used in other contexts.

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