|
Itay Goldstein Professor of Finance Professor of Economics (Secondary) Chairperson, Finance Department Finance Department, Wharton School, University of Pennsylvania Phone: 215-746-0499 E-mail: itayg@wharton.upenn.edu
Resume (updated:
March 2024) Complete and Active Working Papers Keynote Speeches,
Panels, and Media Other Selected
Activities and Recognitions RESEARCH
COMPLETE AND ACTIVE WORKING PAPERS 1.
On ESG Investing:
Heterogeneous Preferences, Information, and Asset Prices with Alexandr
Kopytov, Lin Shen, and Haotian Xiang (Latest Version: May 2024) 2.
Bank Heterogeneity and Financial Stability with
Alexandr Kopytov, Lin Shen, and Haotian Xiang (Latest Version: December
2023) - Covered in Think
Advisor 3.
Bank Diversification and Lending
Resiliency with
Michael Gelman and Andrew
MacKinlay (Latest Version: April
2023) - Covered in Knowledge
@ Wharton -
International
Finance and Banking Society Best Paper Award, 2021 4.
Information
Sharing in Financial Markets with Yan Xiong and Liyan Yang (Latest
Version: January 2023) REFEREED PUBLICATIONS 5. Liquidity Transformation and Fragility in the US Banking Sector with Qi Chen, Zeqiong Huang, and Rahul Vashishtha, Journal of Finance, forthcoming 6. Corporate Responses to Stock Price Fragility with Richard Friberg and Kristine Hankins, Journal of Financial Economics, forthcoming -
Covered in Harvard
Law School Forum on Corporate Governance 7. Utility Tokens as a Commitment to Competition with Deeksha Gupta and Ruslan Sverchkov, Journal of Finance, forthcoming 8. The Real Effects of Modern Information Technologies: Evidence from the EDGAR Implementation with Shijie Yang and Luo Zuo, Journal of Accounting Research, vol. 61(5), pp. 1699-1733, December 2023 -
Covered in NBER
Digest -
Covered in Harvard
Law School Forum on Corporate Governance - Covered in Market
Watch - Covered in Knowledge
@ Wharton 9.
Optimal
Deposit Insurance with Eduardo Davila, Journal of Political Economy, vol. 131(7), pp. 1676-1730,
July 2023 10.
Bank
Transparency and Deposit Flows with Qi Chen, Zeqiong Huang, and Rahul
Vashishtha, Journal of Financial Economics, vol. 146(2), pp.
475-501, November 2022 - Covered in Knowledge
@ Wharton 11.
Commodity
Financialization and Information Transmission with Liyan Yang, Journal
of Finance, vol. 77(5), pp. 2613-2667, October 2022 12.
Financial
Fragility in the COVID-19 Crisis: The Case of Investment Funds in Corporate
Bond Markets with Antonio Falato and Ali Hortacsu, Journal of
Monetary Economics, vol. 123, pp. 35-52, October 2021 -
Covered in Money
and Banking Blog (1), Money
and Banking Blog (2) - Covered in Think
Advisor 13.
Mutual
Fund Flows and Fluctuations in Credit and Business Cycles with Azi
Ben-Rephael and Jaewon Choi, Journal of Financial Economics,
vol. 139(1), pp. 84-108, January 2021 - Podcast link in Knowledge
@ Wharton - Covered in Seeking Alpha 14.
Credit
Rating Inflation and Firms’ Investments with Chong Huang, Journal
of Finance, vol. 75(6), pp. 2929-2972, December 2020 15.
Monetary
Stimulus and Bank Lending with Indraneel Chakraborty and
Andrew MacKinlay, Journal of Financial Economics, vol. 136(1),
pp. 189-218, April 2020 - Douglas D. Evanoff Best Paper Award, Chicago Financial Institutions
Conference, 2016 -
Podcast link in Knowledge
@ Wharton 16.
Good
Disclosure, Bad Disclosure with Liyan Yang, Journal of Financial
Economics, vol. 131(1), pp. 118-138, January 2019 -
MIT Asia Conference in Accounting Best Paper Award, Runner-Up, 2015 17.
Government
Guarantees and Financial Stability with Franklin Allen, Elena Carletti,
and Agnese Leonello, Journal of
Economic Theory, vol. 177, pp. 518-557, September 2018 - Finalist for Cavalcade Best Paper in Corporate
Finance in honor of Jerome A. Chazen, SFS Cavalcade 2015 18.
Stress
Tests and Information Disclosure with Yaron Leitner, Journal of Economic Theory, vol.
177, pp. 34-69, September 2018 19.
Housing
Price Booms and Crowding-Out Effects in Bank Lending with Indraneel Chakraborty and Andrew MacKinlay, Review
of Financial Studies, vol. 31(7), pp. 2806-2853, July 2018 -
Marshall
Blume Prize in Financial Research (Rodney L. White Center), first prize, 2013 -
Covered in
the Economist
(1), Economist
(2), and Financial
Times -
Column in vox - Covered in Knowledge
@ Wharton 20.
Investor
Flows and Fragility in Corporate Bond Funds with Hao Jiang and David Ng, Journal
of Financial Economics, vol. 126(3), pp. 592-613, December 2017 -
Policy Brief
at Penn
Wharton Public Policy Initiative -
Video link
in Knowledge
@ Wharton - Covered in Reuters, Bloomberg, Wall Street Journal -
Covered in Money
and Banking Blog (1), Money
and Banking Blog (2), Money
and Banking Blog (3) 21. Incentives for Information Production in Markets where Prices Affect Real Investment with James Dow and Alexander Guembel, Journal of the European Economic Association, vol. 15(4), pp. 877-909, August 2017 -
Podcast link
in Knowledge
@ Wharton 22. Feedback Effects, Asymmetric Trading, and the Limits to Arbitrage with Alex Edmans and Wei Jiang, American Economic Review, vol. 105(12), pp. 3766-3797, December 2015 23. Government Intervention and Information Aggregation by Prices with Philip Bond, Journal of Finance, vol. 70(6), pp. 2777-2811, December 2015 24.
Information Diversity and
Complementarities in Trading and Information Acquisition with Liyan Yang, Journal
of Finance, vol.
70(4), pp. 1723-1765, August 2015 25.
Speculation and Hedging in
Segmented Markets with
Yan Li and Liyan Yang, Review
of Financial Studies, vol.
27(3), pp. 881-922, March 2014 26. Trading Frenzies and Their Impact on Real Investment with Emre Ozdenoren and Kathy Yuan, Journal of Financial Economics, vol. 109(2), pp. 566-582, August 2013 -
Covered in Knowledge
@ Wharton -
Video of my
presentation in the Utah Winter
Finance Conference -
Covered in Financial
Times 27.
The
Real Effects of Financial Markets: The Impact of Prices on Takeovers with
Alex Edmans and Wei Jiang,
Journal of Finance, vol. 67(3), pp. 933-971, June 2012 -
Covered in Knowledge
@ Wharton; -
Covered in Harvard
Law School Forum on Corporate Governance -
Coverage in Morningstar
and others -
Terker Family Prize in
Investment Research (Rodney L. White Center), honorable mention, 2009 28.
Self-Fulfilling
Credit Market Freezes with Lucian Bebchuk Review of Financial
Studies, vol. 24(11), pp. 3519-3555, November 2011 -
Lead Article -
Marshall
Blume Prize in Financial Research (Rodney L. White Center), first prize, 2011 -
Op-ed in Financial
Times -
Summarized
in Knowledge
@ Wharton -
Covered in Harvard
Law School Forum on Corporate Governance -
Coverage in Forbes
and others 29.
Learning and
Complementarities in Speculative Attacks with Emre Ozdenoren and Kathy
Yuan, Review of Economic Studies,
vol. 78(1), pp. 263-292, January 2011 30.
Payoff
Complementarities and Financial Fragility: Evidence from Mutual Fund Outflows
with Qi Chen and Wei Jiang, Journal
of Financial Economics, vol. 97(2), pp. 239-262, August 2010 -
Covered in Knowledge
@ Wharton -
Covered by
the Economist -
Covered in Money
and Banking Blog (1), Money
and Banking Blog (2), Money
and Banking Blog (3) 31.
Market-Based
Corrective Actions with Philip Bond and Edward Simpson Prescott, Review of Financial Studies, vol.
23(2), pp. 781-820, February 2010 -
Covered in Knowledge
@ Wharton -
Covered in Harvard
Law School Forum on Corporate Governance 32.
Activist Arbitrage: A Study of Open-Ending
Attempts of Closed-End Funds with Michael Bradley, Alon Brav, and Wei Jiang, Journal of Financial Economics,
vol. 95(1), pp. 1-19, January 2010 -
Lead Article -
Covered in Harvard
Law School Forum on Corporate Governance 33.
Directors'
Ownership in the U.S. Mutual Fund Industry with Qi Chen and Wei Jiang, Journal of
Finance, vol. 63(6),
pp. 2629-2677, December 2008 34.
Manipulation and the Allocational Role of Prices with
Alexander Guembel, Review of Economic Studies, vol. 75(1), pp.
133-164, January 2008 -
Covered in Knowledge
@ Wharton -
Covered in TheStreet.com,
Bloomberg,
Seeking
Alpha 35.
The
Positive Effects of Biased Self-Perceptions in Firms with Simon
Gervais, Review of Finance, vol. 11(3), pp. 453-496,
September 2007 36.
Price
Informativeness and Investment Sensitivity to Stock Price with Qi Chen
and Wei Jiang, Review of Financial Studies, vol. 20(3), pp.
619-650, May 2007 37.
An Information
Based Trade off Between
Foreign Direct Investment and Foreign Portfolio Investment with Assaf
Razin, Journal of International Economics, vol. 70(1), pp.
271-295, September 2006
38.
Demand
Deposit Contracts and the Probability of Bank Runs with Ady Pauzner, Journal
of Finance, vol. 60(3), pp. 1293-1328, June 2005 -
Reprinted
in Financial
Crises, International Library of Critical Writings in Economics,
Franklin Allen and Douglas Gale ed., Edward Elgar Publishing Ltd, 2009 -
Nominated
for Smith Breeden Prize for
the best article published in the Journal
of Finance, 2005 39.
Strategic
Complementarities and the Twin Crises Economic Journal,
vol. 115, pp. 368-390, April 2005
-
Reprinted
in Liquidity
and Crises, Franklin Allen, Elena Carletti, Jan Pieter Krahnen, and Marcel Tyrell ed., Oxford University Press,
2010 40.
The Choice of
Exchange Rate Regime and Speculative Attacks with Alex Cukierman and
Yossi Spiegel, Journal of the European Economic Association,
vol. 2(6), pp. 1206-1241, December 2004
41.
Contagion
of Self-Fulfilling Financial Crises Due to Diversification of Investment
Portfolios with Ady Pauzner, Journal of Economic Theory,
vol. 119(1), pp. 151-183, November 2004 OTHER ACADEMIC PUBLICATIONS 42.
Information
in Financial Markets and Its Real Effects, Review of Finance, vol.
27(1), pp. 1-32, February 2023 43.
Stress Tests
Disclosure: Theory, Practice, and New Perspectives with Yaron Leitner, in Handbook of Financial
Stress Testing, edited by J. Doyne Farmer, Alissa M. Kleinnijenhuis,
Til Schuermann, and Thom Wetzer (Cambridge University Press), pp. 208-223,
April 2022 44.
COVID-19 and
Its Impact on Financial Markets and the Real Economy with Ralph Koijen
and Holger Mueller, Review of
Financial Studies, vol. 34(11), pp. 5135-5148, November 2021 45.
Big Data in
Finance with Chester Spatt and Mao Ye, Review of Financial Studies, vol. 34(7), pp. 3213-3225, July
2021 46.
To FinTech
and Beyond with Wei Jiang and G Andrew Karolyi, Review of Financial Studies, vol. 32(5), pp. 1647-1661, May
2019 - Podcast link in Knowledge @
Wharton 47.
The Interplay among
Financial Regulations, Resilience, and Growth with Franklin Allen and
Julapa Jagtiani, Journal of
Financial Services Research, vol. 53 (2-3), pp. 141-162, June 2018 48.
Information
Disclosure in Financial Markets with Liyan Yang, Annual Review of Financial Economics, vol. 9, pp. 101-125,
December 2017 49.
Comment
on “Redemption Risk and Cash Hoarding by Asset Managers” by Morris, Shim, and
Shin Journal of Monetary
Economics, vol. 89, pp. 88-91, August 2017 50.
Financial Regulation in
Europe: Foundations and Challenges with Thorsten Beck and Elena Carletti,
in Economics without Borders:
Economic Research for European Policy Challenges, edited by Richard
Blundell et al. (Cambridge University Press), pp. 470-511, April 2017 - Column in vox 51.
Enhancing Prudential Standards in
Financial Regulations
with Franklin Allen, Julapa Jagtiani, and William
Lang, Journal of Financial Services Research, vol. 49(2-3), pp.
133-151, June 2016 -
Covered in Harvard
Law School Forum on Corporate Governance 52.
Bayesian Persuasion in
Coordination Games with Chong Huang, American Economic Review Papers and Proceedings, vol. 106(5),
pp. 592-596, May 2016 53.
Three Branches of Theories
of Financial Crises with Assaf Razin, Foundations and Trends in Finance, vol. 10(2), pp. 113-180, December 2015 - Column in vox 54.
Moral
Hazard and Government Guarantees in the Banking Industry with Franklin
Allen, Elena Carletti, and Agnese Leonello, Journal of Financial Regulation, vol. 1(1), pp. 30-50, March
2015 55.
Corporate Finance Theory:
Introduction to Special Issue with Dirk Hackbarth, Journal of Corporate Finance, vol.
29, pp. 535-541, December 2014 56.
Should
Banks’ Stress Test Results be Disclosed? An Analysis of the Costs and
Benefits with Haresh Sapra, Foundations
and Trends in Finance, vol. 8, pp. 1-54, March 2014 -
Policy Brief
at Penn
Wharton Public Policy Initiative -
Covered by Bloomberg,
MarketWatch,
Bloomberg
(2) 57.
The Real Effects of Financial
Markets with Philip Bond and Alex Edmans, Annual Review of Financial Economics,
vol. 4, pp. 339-360, December 2012 -
Covered by Huffington
Post 58.
Empirical Literature on
Financial Crises: Fundamentals vs. Panic in The Evidence and Impact of Financial
Globalization, edited by Gerard Caprio (Elsevier, Amsterdam), pp.
523-534, December 2012 COLUMNS IN THE POPULAR PRESS · The
Bright Side of Bank Diversification with Michael Gelman and Andrew
MacKinlay, The Banker, August
2023 · SVB:
US Regulators Have Generated “A Moral Hazard” with Yao Zeng, The Banker, March 2023 · The Real Effects of the
Chinese Stock Market with Bibo Liu and Liyan Yang, Vox-China, September 2021 · As
Inflation Risk Rises, Banks Should Step Up Stress Tests, The Banker, August 2021 · Lessons
from Corporate Bond Market Fragility, The Banker, April 2021 · Why
We Should Worry about Trading Frenzies, The Banker, March 2021 · Fintech
and the New Financial Landscape with Julapa Jagtiani and Aaron Klein, Banking Perspectives, March 2019 · The
Current State and Future Challenges of Financial Regulation with Thorsten
Beck and Elena Carletti, VoxEU,
November 2016 · Dark
Side of Housing-Price Appreciation with Indraneel Chakraborty and Andrew
MacKinlay, VoxEU, November
2013 · Theories of
Financial Crises with Assaf Razin, VoxEU,
March 2013 · How to
Give Banks Confidence to Lend to Businesses with Lucian Bebchuk, Financial Times, December 2008 PHD-LEVEL
LECTURE NOTES Mini Course on “Financial
Fragility” (Recent Slides) -
Aalto
University, August 2023 -
Vienna
Graduate School of Finance, June-July 2018 (Longer Version of Slides) -
Study
Center Gerzensee and Swiss Finance Institute, August 2016 I
have also given shorter versions and different variants of this course over
the years in various places, including: -
Securities
and Exchange Commission, December 2016 -
Ohio State
University PhD Class, September 2016 -
Finance
Theory Group and Washington University Summer School, August 2015: Video link -
Financial Management Association,
October 2013 -
IMF Institute, August 2009 and April 2012 -
Goethe University at Frankfurt, June
2007 -
Deutsch Bundesbank, June 2007 Lecture on “Information in
Financial Markets and Its Real Effects” (Duke Accounting Theory Summer
School, May 2022) I
have also given different versions of these lectures over the years in
various places, including: -
Cornell
University, March 2024 -
INSEAD,
November 2019 -
Finance
Theory Group and Washington University Summer School, August 2017: Slides: Financial Markets, Information,
and Real Investments; Video
link Lecture on “Short Term Debt
and Incentives in Banks” (Finance Theory Group and Wharton Summer School,
June 2019; Video
link (1), Video
link (2)) PhD course on
Corporate Finance and Financial Institutions; covers theories of
Corporate Finance, Financial Institutions, and Financial Markets: New Syllabus (with references to lecture notes
above and additional lecture notes on the following topics: Moral Hazard, Theory of the Firm, Capital Structure, Financial Contracting, Corporate Control, Financial Intermediation
and Crises, Financial Markets, Feedback Effects) KEYNOTE
SPEECHES, PANELS, AND MEDIA The Role of Theory Lecture on “The
Role of Theory in Finance Research” (Finance Theory Group Summer School,
University of Washington, June 2023) I
have also given this lecture as a keynote speech at Forum for Deans and
Finance Department Chairs, Zhejiang University, November 2023 Liquidity and Financial Fragility Keynote Speech on “Banking Fragility” (Fixed Income and
Financial Institutions Conference, University of South Carolina, October
2023) I
have also given this lecture as a keynote speech at the Fed-Maryland
Short-Term Funding Markets Conference, May 2023 Keynote Speech on “Financial Fragility and Mutual Funds”
(Frankfurt School, Deutsche Bundesbank, and CEPR Conference on “Regulating
Financial Markets,” August 2022) I
have also given other versions of this talk in various forums, including: -
Panel
Presentation at the IMF-WIFPR Conference on Non-Bank Financial
Intermediation, Financial Stability, and Policy Responses, May 2023 -
Panel
Presentation at the Federal Reserve Bank of Chicago, Workshop on Non-Bank
Financial Institutions, April 2023 -
Keynote
Speech at the Central Bank Conference on the Microstructure of Financial
Markets, Reserve Bank of Australia, December 2022 -
Keynote
Speech in the Annual Conference on Asia-Pacific Financial Markets, Seoul,
December 2021 Keynote Speech on “Liquidity
Transformation and Runs in the Financial System” (University of South
Carolina Conference on Fixed Income and Financial Institutions, October 2020) Panel on “COVID-19
and the Financial System — How and Why were Financial Markets Disrupted?”
(video of presentation and panel discussion on website); Slides (Brookings Institution,
Hutchins Center, May 2020) Keynote Speech on “Global Games and Financial
Fragility: Foundations and a Recent Application” (The Lisbon Meetings in
Game Theory and Applications, October 2018) Keynote Speech on “Asset Managers and
Financial Fragility” (Bank of England, Imperial, LSE, and CEPR Conference
on “Non-bank Financial Institutions and Financial Stability”, September 2018) I
have also given previous versions of this talk in various forums, including: -
Invited
Lecture at CME Group and MSRI Award Reception, February 2016 -
Keynote
Speech at the University of Toronto and Bank of Canada Conference on
“Liquidity Risk in Asset Management”, September 2015 -
Keynote
Speech at the University of Maryland and Clearing House Conference on “the
Intended and Unintended Consequences of Financial Reform”, May 2015 Keynote Speech on “Optimal
Deposit Insurance” (1st Biennial Banca d’Italia and Bocconi
University Conference on “Financial Stability and Regulation”, April 2018) I
have also given a previous version of this talk as an invited lecture at the
International Association of Deposit Insurers Research Conference, June 2017 Panel on
Amplification Mechanisms (IMF-LSE Symposium on Macroprudential Stress
Tests, December 2016) Panel on
Future Generation of Central-Bank Models (Bank of Canada, November 2016) Panel on “The
Financial System Today: Better, Safer, Stronger?” (IMF, April 2016) Panel at the Financial Stability Oversight Council
(FSOC, May 2014) event
on Asset Management (video available on website) FinTech Masterclass on “FinTech and Decentralized Finance”
(Wharton Global Forum, Singapore, March 2023) See
coverage in Wharton
Magazine. I
have also given this masterclass in: -
Lovell
Lecture, University of Colorado at Boulder, November 2023 -
Wharton
MBA Reunion, May 2023 Keynote Speech on “FinTech, Decentralization, and
Utility Tokens” (Warwick Business School Gillmore Centre Conference on
DeFi and Digital Currencies, September 2022) I
have also given other versions of this talk in various forums, including: -
Keynote
Speech at the Purdue FinTech Conference, May 2022 -
Keynote
speech at the Georgia State University FinTech Conference, February 2022 Lecture on “Digital
Assets: Promise and Challenges” (Vaduz Roundtable: The Financial System
2030, September 2021) Panel on “Research Agenda in FinTech”
(Inaugural New York Fed Conference on FinTech, March 2019) Corporate Finance, Financial Markets, and Feedback
Effects Keynote Speech on “Information
in Financial Markets and Its Real Effects” (EIASM Workshop on Accounting
and Economics, Erasmus University, July 2022) Keynote Speech on “Information
in Financial Markets and Its Real Effects” (European Finance Association
Annual Meeting, August 2021) I
have also given other versions of this talk in various forums, including: -
Invited
Lecture at the Center for Financial Institutions, University of South
Carolina, October 2023 -
Keynote
Speaker at the Chinese Finance Annual Meeting, CUFE, October 2023 -
Invited
Talk at Becker Friedman Institute, Conference on “Firms’ Cost of Capital,
Discount Rates, and Investment,” University of Chicago, March 2023 -
Keynote
Speech at the Australian Finance and Banking Conference, December 2022 -
Keynote
Speech at the Conference on Financial Economics and Accounting, Indiana
University, November 2021 -
Keynote
speech at the Indian School of Business (ISB) Summer Research Conference,
August 2021 Keynote Speech on “Trading Frenzies and Real Effects”
(Mid-Atlantic Research Conference in Finance, March 2021) Keynote Speech on “Financial-Market
Information and Corporate Finance: An Overview with New Perspectives for the
FinTech Revolution” (Greater China Area Finance Conference, December
2020) I
have also given a previous version of this talk as an invited lecture at the
Global Virtual Seminar Series on Fintech, Center for Financial Markets and
Policy, Georgetown University, June 2020 Keynote Speech on “Corporate Finance and Financial Markets”
(Santiago Finance Workshop, December 2019) I
have also given previous versions of this talk in various forums, including: -
Overview
and Research Ideas Session at the Financial Management Association, New
Orleans, October 2019 -
Keynote
Speech at the Swedish House of Finance Conference on “Financial Markets and
Corporate Decisions”, August 2019, Video
Link Keynote Speech on “Financial Market Feedback: Foundations
and New Directions” (6th Cambridge Corporate Finance Theory
Symposium, September 2019) I
have also given previous versions of this talk in various forums, including: -
Keynote
Speech at the 27th Finance Forum, Annual Meeting of Spanish
Finance Association, July 2019 -
Keynote
Speech at the Tsinghua International Corporate Governance Conference,
December 2018 -
Keynote
Speech at the Hong Kong University of Science and Technology Finance
Symposium, December 2017 Tradeoffs in Disclosure Invited Talk on “Tradeoffs in Disclosure of
Supervisory Information” (Systemic Risk Integration Forum, Federal
Reserve Board, February 2018) I
have also given previous versions of this talk in various forums, including: -
Invited
Lecture at the Bank of England, September 2015 -
Roundtable
at the Office of Financial Research Meeting on “Stress Testing Research
Agenda,” August 2012 -
Invited
Lecture for the Committee on Capital Markets Regulation, April 2012 Keynote Speech on “stress Tests and Information
Disclosure” (Fourth Oxford Financial Intermediation Theory Conference,
September 2015) Other Talks, Interviews, and Materials Profile in Wharton Magazine: Breaking
Down Bank Runs Invited Talk “On ESG
Investing: Heterogeneous Preferences, Information, and Asset Prices”
(Pacific Center for Asset Management Meeting, January 2022) I
have also given other versions of this talk in various forums, including: -
Keynote
Speech at the Research Symposium on Finance and Economics, Krea University,
June 2022 -
Keynote
Speech at the Copenhagen Business School Conference on Financial Frictions,
June 2022 Scientific
Sense (Podcast Interview, March 2021) Dinner Speech
at Finance-Theory-Group 10th Anniversary (Rochester, September
2019) Keynote Speech on “Credit Rating Inflation and Firms'
Investments” (Barcelona GSE Summer Forum, Information Frictions:
Applications, Theories, and Tests, June 2017) Keynote Speech on “Monetary Stimulus and Bank Lending”
(Barcelona GSE Summer Forum, Financial Intermediation and Risk, June 2017) Panel on “evaluating
the effects of the G20 financial regulatory reforms” (Financial Stability
Board Workshop, February 2017) Interview on Study Center Gerzensee Newsletter (January 2017) My Knowledge
@ Wharton page, containing coverage of research, interviews, and opinions OTHER SELECTED ACTIVITIES AND
RECOGNITIONS I received the Provost’s Award for Distinguished
PhD Teaching and Mentoring in 2022 I am the Director of Wharton Initiative on Financial
Policy and Regulation (WIFPR) I am the Executive Editor of the Review of Financial Studies (starting July 1,
2018; prior to that I served as an Editor between 2013 and 2018) I
served as a department editor at Management Science I
served as an editor at the Journal
of Financial Intermediation I
was a guest co-editor (with Dirk Hackbarth) of a special issue on Corporate
Finance Theory at the Journal
of Corporate Finance I co-founded (with Gustavo Manso) and served as first
president of the Finance Theory Group I
co-organized (with Vincent Glode, Ohad Kadan, Nadya Malenko, and Uday Rajan)
the Summer
School of the Finance Theory Group and Wharton I
co-organized (with Simon Gervais, Ohad Kadan, Uday Rajan, and Adriano
Rampini) the two Summer
Schools of the Finance Theory Group and Washington University I
Co-organized (with Vincent Glode) the Fifth Workshop of the Finance Theory Group I
co-organized (with Gustavo Manso) the First Workshop of the Finance Theory Group I co-organized (with Guillermo Ordonez) the Wharton
Conferences on Liquidity and Financial Crises (annual event since 2012) I was a director of the American
Finance Association, the Western
Finance Association, and the Financial Intermediation Research
Society I am a research associate of the National Bureau of Economic Research (NBER)
Corporate Finance Group I am a member of the Foundation for the Advancement of Research in Financial Economics (FARFE) I
co-organized the Third FARFE
Conference (academic sessions, with Adriano Rampini) I co-organized the Third
Conference of the Paul Woolley Centre at the London School of Economics
(Sessions on Financial Markets and the Real Economy, with Thierry Foucault
and Kathy Yuan) |
|
|
|
|
