CV

Education
Ph.D.       Finance, Ross School of Business, University of Michigan                  2010
M.A.        Economics, University of Toronto                                                            2001
B.Com.    Finance & Economics, University of Toronto                                        2000

Experience
World Bank, Financial Economist, Research Group (current)
Virginia Tech, Pamplin School of Business, Assistant Professor of Finance  (2012-2016)
Oliver Wyman, Management Consultant  (2001-2004)
Law and Economics Consulting Group, Research Assistant (2000-2001, part-time)

Research
Citations (Google Scholar)
Paper downloads (SSRN)

Published papers:
– “Corporate Governance of Banks and Financial Stability”, with Asli Demirguc-Kunt, Harry Huizinga and Kebin Ma, Journal of Financial Economics, forthcoming
– “Is There a Distress Risk Anomaly? Pricing of Systematic Default Risk in the Cross Section of Equity Returns”, with Celim Yildizhan, Review of Finance, forthcoming
– “Foreign Bank Subsidiaries’ Default Risk During the Global Crisis: What Factors Help Insulate Affiliates from Their Parents?”, with Eugenio Cerutti and Soledad Martinez Peria, Journal of Financial Intermediation, vol 29, 2017
– 
“How Does Corporate Governance Affect Bank Capitalization Strategies?” with Asli Demirguc-Kunt, Harry Huizinga and Kebin Ma, Journal of Financial Intermediation, vol 26, 2016
– “How does Bank Competition affect Systemic Stability”, with Asli Demirguc-Kunt and M. Zhu, Journal of Financial Intermediation, vol. 23, 2014
– “How Does Deposit Insurance Affect Bank Risk? Evidence from the Recent Crisis”, with Asli Demirguc-Kunt and M. Zhu, Journal of Banking and Finance, vol 48, 2014
– “The Chrysler Effect: The Impact of Government Intervention on Borrowing Costs”, with A. Warburton, Journal of Banking and Finance, vol 40, 2014
– “Has the Banking Sector become more Fragile over Time?” with Asli Demirguc-Kunt, Journal of Financial Stability, vol. 13, 2014.
– “Risk-Absorption by the State: When is it Good Public Policy?” with Augusto de la Torre and Alain Ize, Journal of Financial Stability, vol 10, 2014
– “Should Size Matter When Regulating Firms? Implications from Backdating of Executive Options”, with MP Narayanan, Nejat Seyhun, Cindy Schipani, Journal of Legislation & Public Policy, 2012
– “Stocks of Admired Companies and Spurned Ones”, with Meir Statman, Journal of Portfolio Management, vol 26, 2010
– “Affect in a Behavioral Asset Pricing Model”, with Meir Statman and Kenneth L. Fisher, Financial Analyst Journal, 64:2, 2010

Book Chapters:
– “The Transmission of Bank Default Risk During the Global Financial Crisis”, with Eugenio Cerutti and Soledad Martinez Peria, in The Future of Large, Internationally Active Banks, World Scientific publishers, 2017.
– “Corporate Governance and Bank Risk Taking”, with with Asli Demirguc-Kunt, Harry Huizinga and Kebin Ma, in The Future of Large, Internationally Active Banks, World Scientific publishers, 2017.
– “Revisiting the case for public guarantees: a frictions based approach”, with A. de la Torre and A. Ize, in “Emerging Issues in Financial Development: Lessons from Latin America”, World Bank, 2013.

Conferences and Seminars
Eastern Finance Association annual meetings*; Ross School of Business, University of Michigan*; Midwest Finance Association annual meetings; Penn/NYU Conference on Law and Finance*; McMaster University; Federal Reserve Bank of Chicago*; University of Waterloo; FDIC 15th Bank Research Conference; Ross School of Business, University of Michigan*; Virginia Tech Pamplin Business School; University of Chicago, Stigler Center; Federal Reserve Bank of Philadelphia; The Banque de France and Toulouse School of Economics Financial Stability Conference; International Atlantic Economic Society; Ridenour Faculty Fellowship Conference; Cardiff University, School of Public and International Affairs*; Annual SAEE Conference*; 6th IFABS Lisbon Conference*; American Finance Association annual meeting; FDIC 13th Bank Research Conference; Minneapolis Fed “Too Big to Fail” Conference; NYU-TCH Conference*; American Law and Economics Association annual meeting*; George Washington University*; Conference on Empirical Legal Studies, Stanford University*; Northern Finance Association annual meeting; World Bank Authors Workshop; Virginia Tech, Pamplin Business School; Northern Finance Association annual meeting; Dubrovnik Economic Conference; Federal Reserve Bank of Cleveland*; World Bank Risk Conference; American Law & Economics Association annual meeting, Columbia Law School; Yale/Stanford Junior Faculty Forum, Stanford Law School*; Ross School of Business, University of Michigan*; World Bank, DECFP Seminar; Cox School of Business, Southern Methodist University*; Terry College of Business, University of Georgia*; BlackRock Fixed Income Research Group*; Lerner College of Business & Economics, University of Delaware*; Western Finance Association annual meeting; Erasmus Liquidity Conference, Netherlands; TAU Finance Conference, Israel; Conference on Empirical Legal Studies, Yale Law School*; Wilfrid Laurier School of Business and Economics*; Academy of Legal Studies in Business conference*; University of Connecticut, School of Business*; U.S. Commodity Futures Trading Commission*; Cornerstone Research*; European Finance Association.  (* indicates co-authors)

Media and Policy Coverage
– Research profiled/cited in: Bloomberg, Washington Post, New York Times, Fortune Magazine, CNN, Institutional Investor Magazine, Huffington Post, Christian Science Monitor, National Post
– 
Research cited in a number of Congressional hearings and White House reports
– Testified before the Senate Subcommittee on Financial Institutions and Consumer Protection.

Service
– Referee for finance, accounting and economics journals:
Journal of Finance, Review of Financial Studies, Management Science, Review of Finance,
Journal of Financial Intermediation, Journal of Banking and Finance, Financial Analyst Journal,
Journal of Econometrics, Journal of Empirical Finance, Journal of Financial Services Research,
World Bank Economic Review, Journal of Law, Finance, and Accounting, Macroeconomic
Dynamics, European Financial Management, Journal of Financial Stability, International
Review of Economics and Finance, and others
– Editorial Board: Risk Governance and Control
– Program committee member:
           Northern Finance Association (2011-2017)
           Eastern Finance Association (2017)
           Midwest Finance Association (2015)
– Virginia Tech finance department recruiting committee (2013)
– 
World Bank DECFP recruiting committee (2011)
– Doctoral student advising (Snow Han, UGA, Mete Tepe, VTech)
– 
Organized bi-weekly seminar series at the World Bank Research Group (2010-2012)

Teaching Experience
– Taught MBA classes in Investments, Fixed Income, Derivatives, and International Finance at the Pamplin Business School, Virginia Tech
– Taught undergraduate class in Corporate Finance at the Ross School of Business, University of Michigan

Grants, Honors and Awards
– Knowledge for Change Program Grant (2014, 2013, 2012, 2010), >$200,000
– 
Templeton Foundation Grant (2010), >$100,000
– University of Michigan James and Ruth Close Fellowship (2008)
– University of Michigan Rodkey Fellowship (2004-2008)
– 
Mitsui Life Award for exceptional performance in the doctoral program (2004, 2005)
– 
University of Toronto Connaught Fellowship (2001)
– 
University of Toronto Adams Academic Gold Medal, awarded to the Honors student with the highest standing in Economics (2000)
– 
Governor General’s Academic Medal, awarded to the student with the highest standing in Secondary School (1996)