FINANCE THEORY GROUP

 

DESCRIPTION

The goal of the group is to foster theoretical research in the areas of corporate finance, financial institutions, and financial markets. We hold two meetings every year, where members and fellows meet to present and discuss their work. Members and fellows are researchers from leading institutions, who work primarily on the theory of corporate finance, financial institutions, and financial markets. 

The group was founded by Itay Goldstein and Gustavo Manso in the fall of 2009, when they organized the first meeting at MIT. Since then, the organization of meetings is rotated among members of the group, such that each meeting is organized by two different members. Participation is by invitation only.

For more information, see our By-Laws.

 

CURRENT BOARD OF DIRECTORS

Simon Gervais (president), Nicolae Garleanu, Zhiguo He, Tomasz Piskorski, Uday Rajan (treasurer)

 

PAST PRESIDENTS

Itay Goldstein (2011-2012),

Gustavo Manso (2012-2013)

Adriano Rampini (2013-2014)

 

PAST BOARD MEMBERS

Itay Goldstein (2011-2014), Gustavo Manso (2011-2014), Uday Rajan (2011-2013), Adriano Rampini (2011-2014),  Ilya Strebulaev (2011-2013)

 

FUTURE MEETINGS

Twelfth Meeting: Maryland; Spring 2015. Organizers: Nicolae Garleanu and Richmond Mathews

 

PAST MEETINGS

Eleventh Meeting: UCLA; Fall 2014. Organizers: Daniel Andrei, Bruce Carlin, and Barney Hartman-Glaser

Tenth Meeting: Chicago; Spring 2014. Organizers: Zhiguo He and Konstantin Milbradt

Ninth Meeting: Columbia; Fall 2013. Organizers: Martin Oehmke and Tomasz Piskorski

Eighth Meeting: Berkeley; Spring 2013. Organizers: Willie Fuchs and Brett Green

Seventh Meeting: Duke; Fall 2012. Organizers: Simon Gervais and Dirk Hackbarth

Sixth Meeting: HBS; Spring 2012. Organizers: Christine Parlour and Matt Rhodes Kropf

Fifth Meeting: Wharton; Fall 2011. Organizers: Vincent Glode and Itay Goldstein

Fourth meeting: Stanford; Spring 2011. Organizers: Marcus Opp and Ilya Strebulaev

Third meeting: BU; Fall 2010. Organizers: Robert Marquez and Uday Rajan

Second Meeting: NYU; Spring 2010. Organizers: Viral Acharya and Adriano Rampini

First Meeting: MIT; Fall 2009. Organizers: Itay Goldstein and Gustavo Manso

 

 

BEST PAPER AWARD

Awarded to the best theory papers on the finance job market (based on a vote of members of the group):

 

2014 (financed by Simon Gervais, Itay Goldstein, Gustavo Manso, Tomasz Piskorski, Adriano Rampini):

First Prize: “Intermediation and Voluntary Exposure to Counterparty Risk” by Maryam Farboodi (Chicago, joining Princeton)

Runner Up (Tie): “Auctions of Real Options” by Will Cong (Stanford, joining Chicago)  and “Information Acquisition vs. Liquidity in Financial Markets” by Victoria Vanasco (Berkeley, joining Stanford)

 

2013 (financed by Itay Goldstein, Gustavo Manso, Adriano Rampini, Uday Rajan, Ilya Strebulaev):

First Prize: “Contracting Timely Delivery with Hard to Verify Quality” by Felipe Varas (Stanford, joining Duke)

Runner Up: “Uncertainty Shocks and Balance Sheet Recessions” by Sebastian Di Tella (MIT, joining Stanford)

 

2012 (financed by Itay Goldstein, Gustavo Manso, Adriano Rampini, Uday Rajan, Ilya Strebulaev):

First Prize: “Optimality of Securitized Debt with Endogenous and Flexible Information Acquisition” by Ming Yang (Princeton, joining Duke)

Runner Up:Financial Intermediation, International Risk Sharing, and Reserve Currencies” by Matteo Maggiori (Berkeley, joining NYU)

 

2011 (financed by Viral Acharya, Itay Goldstein, Gustavo Manso, Robert Marquez, Marcus Opp, Adriano Rampini, Uday Rajan, Ilya Strebulaev):

First Prize: “Asymmetric Information in Financial Markets: Anything Goes” by Bradyn Breon-Drish (Berkeley, joining Stanford)

Runner Up: “Sticky Incentives and Dynamic Agency: Optimal Contracting with Perks and Shirking” by John Zhu (Berkeley, joining Wharton)

 

 

CURRENT MEMBERS

Hengjie Ai (Minnesota), Elias Albagli (USC), Andres Almazan (Texas), Daniel Andrei (UCLA), Fernando Anjos (Texas), Ana Babus (Chicago Fed), Snehal Banerjee (Kellogg), Philip Bond (U Wash), Matthieu Bouvard (McGill), Bradyn Breon-Drish (Stanford), Andrea Buffa (BU), Elena Carletti (Bocconi), Bruce Carlin (UCLA), Archishman Chakraborty (Yeshiva), Briana Chang (Wisconsin), Hui Chen (MIT), Ing-Haw Cheng (Dartmouth), Jonathan Cohn (Texas), Will Cong (Chicago), Brendan Daley (Duke), Amil Dasgupta (LSE), Adolfo De Motta (McGill), Marco DiMaggio (Columbia), Sebastian Di Tella (Stanford), Alex Edmans (Wharton), Andrea Eisfeldt (UCLA), Maryam Farboodi (Princeton), Willie Fuchs (Berkeley), Diego Garcia (UNC), Nicolae Garleanu (Berkeley), Simon Gervais (Duke), Vincent Glode (Wharton), Eitan Goldman (Indiana), Itay Goldstein (Wharton), Alexander Gorbenko (LBS), Brett Green (Berkeley), Dirk Hackbarth (BU), Valentin Haddad (Princeton), Barney Hartman-Glaser (UCLA), Zhiguo He (Chicago), Philipp Illeditsch (Wharton), Ohad Kadan (Wash U), Ron Kaniel (Rochester), Anastasia Kartasheva (BIS), Peter Kondor (CEU), Yrjo Koskinen (BU), Pablo Kurlat (Stanford), Nisan Langberg (Houston), Samuel Lee (NYU), Yaron Leitner (Philadelphia Fed), Doron Levit (Wharton), Dmitry Livdan (Berkeley), Richard Lowery (Texas), Evgeny Lyandres (BU), Matteo Maggiori (NYU), Igor Makarov (LSE), Semyon Malamud (Lausanne), Andrey Malenko (MIT), Nadya Malenko (BC), Gustavo Manso (Berkeley), Robert Marquez (UC Davis), Marc Martos-Vila (LBS), Rich Mathews (Maryland), Konstantin Milbradt (Kellogg), Alan Moreira (Yale), Erwan Morellec (EPFL), Martin Oehmke (Columbia), Christian Opp (Wharton), Marcus Opp (Berkeley), Guillermo Ordonez (Penn), Emilliano Pagnotta (NYU), Cecilia Parlatore (Wharton), Christine Parlour (Berkeley), Giorgia Piacentino (Wash U), Tomasz Piskorski (Columbia), Guillaume Plantin (Toulouse), Paul Povel (Houston), Uday Rajan (Michigan), Adriano Rampini (Duke), Matt Rhodes-Kropf (HBS), Jacob Sagi (UNC), Francesco Sangiorgi (Stockholm), Haresh Sapra (Chicago), Lukas Schmid (Duke), Alp Simsek (MIT), Raj Singh (Minnesota), Ilya Strebulaev (Stanford), Gunter Strobl (Frankfurt), Ajay Subramanyan (Georgia State), Martin Szydlowski (Minnesota), Alexei Tchistyi (Berkeley), James Thompson (Waterloo), Victoria Vanasco (Stanford), Felipe Varas (Duke), Neng Wang (Columbia), Pierre-Olivier Weill (UCLA), Ed van Wesep (Vanderbilt), Mark Westerfield (U Wash), Lucy White (HBS), Wei Xiong (Princeton), Liyan Yang (Toronto), Ming Yang (Duke), Vijay Yerramilli (Houston), Bilge Yilmaz (Wharton), Adam Zawadoski (BU), Haoxiang Zhu (MIT), John Zhu (Wharton).

 

FELLOWS:

Anat Admati (Stanford), Franklin Allen (Wharton), Bruno Biais (Toulouse), Patrick Bolton (Columbia), Peter DeMarzo (Stanford), Douglas Diamond (Chicago), James Dow (LBS), Darrell Duffie (Stanford), Philip Dybvig (Wash U), Michael Fishman (Kellogg), Douglas Gale (NYU), Milton Harris (Chicago), Oliver Hart (Harvard), Bengt Holmstrom (MIT), Albert Pete Kyle (Maryland), Hayne Leland (Berkeley), Stewart Myers (MIT), Stephen Ross (MIT), Vish Viswanathan (Duke), Andrew Winton (Minnesota), Jeffrey Zwiebel (Stanford).