Areas of Research
Finance
Avery Haviv, Associate Professor of Marketing, and winner of two Superior Teaching Awards in 2022.

Learn from research’s biggest names.

The Simon community is small by design. In fact, it is the smallest of the top-ranked business schools, which offers students the opportunity to work closely with world class scholars. Simon doesn’t require a specific undergraduate major or a minimum work experience; scholars are free to choose from any of our six research focus areas.

Accountancy Comp. and Info. Systems Economics and Mgmt.
Finance Marketing Operations Management

 

Finance

Finance at Simon Business School deals with problems of corporate financial policy, individual consumption-investment choices, and capital market equilibrium in an uncertain environment. The principles of price theory, mathematics, and statistics provide the basis for analyzing these problems. Close attention is given to investor-management behavior induced by utility maximization, how this behavior is affected by information, regulation, and contractual arrangements, and the implications of these considerations for systematic, measurable phenomena in financial markets. The methodological approach taken at Simon places strong emphasis on formal modeling of these problems and empirical testing of alternative theories.

Christian Opp, Faculty Director of PhD and Associate Professor in Finance, discusses his research in the field of finance.

  • Media mentions boost mutual funds.

    Ron Kaniel and Robert Parham

    It pays to be a mutual fund mentioned in Category Kings, the prominent Wall Street Journal feature. The Journal’s quarterly rankings give a surprisingly heavy boost to mutual funds that make it into the Top 10, according to research by Simon professor Ron Kaniel and co-author Robert Parham, a current PhD student. They found that the quarterly capital flows of Top 10 funds grew an average of 31 percent more than those of funds just missing the list.

    Read the full paper

     

  • How can Timing Optimize Employee Effort

    Dmitry Orlov

    What is the optimal way for supervisors to design performance evaluations and incentive pay? A paper by Simon professor Dmitry Orlov shows that partial transparency about employee performance is the way to go. “Well-managed firms are neither fully transparent nor fully opaque with their employees,” Orlov writes in “Optimal Design of Internal Disclosure.” Giving feedback to employees can improve productivity, Orlov says. However, the greater the feedback, the higher the cost of compensation over time.

    Read the full paper

  • Measuring a Prolific Career

    G. William Schwert

    The remarkable career of Eugene Fama gets a by-the-numbers look in a new paper co-authored by Simon professor G. William Schwert.

    Read the full paper

  • Investment Unfazed by Interest Rates

    Jerold Warner

    How is corporate investment affected when changes in profits, stock returns, market uncertainty, and interest rates come into play?

    read the full paper

  • Looking at Liquidity before Litigation

    Frank Torchio and Sunita Surana

    A new paper by Simon adjunct lecturer Frank Torchio ’82S (MBA) and colleague Sunita Surana provides new insight into the proper way to perform a discounted cash flow valuation for fair-value assessments.

    Read the full paper
Daniel Burnside
Clinical Professor
Martin Cherkes
Adjunct Faculty
Ramona Dagostino
Ramona Dagostino
Assistant Professor
Banking, Political Economy, Municipal Finance
  1. Are Short-Selling Bans Effective? Evidence from the Summer 2011 European Bans on Net Short Sales, Rivista di Politica Economica, 2013, Website, 4
Michael Gofman
Assistant Professor
Financial Networks, Financial Intermediation, Financial Regulation, Production Networks, Trade Credit, Systemic Risk, Financial Stability, Payment Systems, Creative Destruction, Artificial Intelligence
  1. Trade credit and profitability in production networks, Journal of Financial Economics, 2022, 1, 143
  2. Production Networks and Stock Returns: The Role of Vertical Creative Destruction, Review of Financial Studies, 2020, 12, 33
  3. Efficiency and Stability of a Financial Architecture with Too-Interconnected-to-Fail Institutions, Journal of Financial Economics, 2017, Website, 1, 124
Richard Insalaco
Adjunct Faculty
Martin Jarzebowski
Adjunct Faculty
Joseph Kalmenovitz
Joseph Kalmenovitz
Assistant Professor
Professor Kalmenovitz is primarily interested in the economics of regulations. Companies view regulation as a major risk factor that profoundly affects every business decision. But there is surprisingly little research on regulation. Even basic questions, such as how to measure regulation, remain unsolved. Professor Kalmenovitz works with large new datasets and relies on his extensive legal training to try and shed light on this fundamental topic. He is also interested in the intersection of finance and labor and in corporate governance.
Ron Kaniel
Professor

Professor Kaniel has research interests in the areas of asset pricing, financial intermediation and investments. His research is focused on understanding mutual funds investment decisions and how they impact security prices, the impact of endogenous community effects on investors’ investment decisions and equilibrium prices, and the predictive role of changes in trading volume and investors’ order flow on security returns.

  1. The Real Side of the High-Volume Return Premium, Management Science, 2022, 68(2), 1426--1449, 2022, Website, 2, 68
  2. Filing speed, information leakage, and price formation, Review of Accounting Studies, 2022
  3. Impact of Managerial Commitment on Risk Taking with Dynamic Fund Flows, Management Science, 2019, Website, 7, 65
Yukun Liu
Yukun Liu
Assistant Professor
  1. Long Run Risk: Is It There?, Journal of Finance, 2022, Website, 3, 77
  2. Common Risk Factors in Cryptocurrency, Journal of Finance, 2022, Website, 2, 77
  3. How does shareholder governance affect the cost of borrowing?, Journal of Accounting and Economics, Website
Derek Mohr
Derek Mohr
Clinical Associate Professor
Research interests include fintech, blockchain and cryptocurrencies, along with corporate finance, investments and business law.
  1. Corporate Governance, Prentice-Hall, 2010, 3
  2. Regulated Investment Companies, Mertens Law of Federal Income Taxation, 2004
  3. Alien Taxpayers and the U.S. Income Tax, Immigration Briefings, 2003
Alan Moreira
Associate Professor
Financial Intermediation, Asset Pricing, Monetary Policy
  1. Text Selection, Journal of Business & Economic Statistics, 2021
  2. When Selling Becomes Viral: Disruptions in Debt Markets in the COVID-19 Crisis and the Fed’s Response, Review of Financial Studies, 2021, Website, 11, 34
  3. Capital Immobility and the Reach for Yield, Journal of Economic Theory, 2019, 2019, 183
Robert Novy-Marx
Professor
Professor Novy-Marx’s research focuses primarily on empirical asset pricing, empirical methods, and public finance.
  1. Betting against betting against beta, Journal of Financial Economics, 2022, Website, 1, 143
  2. Comparing Cost-Mitigation Techniques, Financial Analysts Journal, 2019, Website, 1, 75
  3. A Taxonomy of Anomalies and their Trading Costs, Review of Financial Studies, 2016, Website, 1, 29
Christian Opp Faculty
Christian Opp
Associate Professor
My work analyzes financial institutions’ and markets’ impact on allocations, with a particular focus on the role of informational frictions.
  1. “Dynamic Asset (Mis)Pricing: Build-up vs. Resolution Anomalies”, Journal of Financial Economics, 2023, Website, 2, 147
  2. To Pool or Not to Pool? Security Design in OTC Markets, Journal of Financial Economics, 2022, Website, 2, 145
  3. Venture Capital and the Macroeconomy, Review of Financial Studies, 2019, Website, 11, 32
Frank Torchio
Adjunct Faculty
Giulio Trigilia
Assistant Professor
Financial economics, information economics, microeconomic theory, macro-finance.
  1. Separating equilibria, under-pricing and security design, Journal of Financial Economics, 2022, Website, 3, 145
  2. Is there a paradox of pledgeability?, Journal of Financial Economics, 2020, Website, 3, 137
  3. Optimal Security Design under Asymmetric Information and Profit Manipulation, The Review of Corporate Finance Studies, 2019, Website, 1, 8
Urs Waelchli
Visiting Assistant Professor
Empirical corporate finance
Jerold Warner
Professor
Professor Warner has teaching and research interests in portfolio theory, capital markets and corporate finance.
  1. Measuring Innovation and Product Differentiation: Evidence from Mutual Funds, Journal of Finance, 2020
  2. You're Fired: New Evidence on Portfolio Manager Turnover, CFA Digest, 2017, Website, 1, 47
  3. You're Fired: New Evidence on Portfolio Manager Turnover and Performance, Journal of Financial and Quantitative Analysis, 2015, Website, 4, 50
Pavel Zryumov
Assistant Professor
Corporate Finance, Asymmetric Information in Financial Markets, Contract Theory