CV

­Deniz Anginer

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:

  • “Should the CEO Pay Ratio Be Regulated?”, with Nejat Seyhun, Jinjing Liu, Cindy Schipani, Journal of Corporation Law, forthcoming
  • “Corporate Governance of Banks and Financial Stability”, with Asli Demirguc-Kunt, Harry Huizinga and Kebin Ma, Journal of Financial Economics, vol 130, 2018
  • “Is There a Distress Risk Anomaly? Pricing of Systematic Default Risk in the Cross Section of Equity Returns”, with Celim Yildizhan, Review of Finance, vol 22, 2018
  • “Bank capital, institutional environment and systemic stability”, with Asli Demirguc-Kunt and Davide Mare, Journal of Financial Stability, vol 37, 2018
  • “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:

  • “Bank Runs and Moral Hazard: A review of Deposit Insurance”, with Asli Demirguc-Kunt, in the Oxford Handbook of Banking (3rd edition), Oxford University Press, forthcoming.
  • “Deposit Insurance Design and Institutional Environment”, ifo DICE Report, forthcoming.
  • “Banking Regulation and Supervision: Conceptual Framework and Stylized Facts”, Global Financial Development Report, World Bank Group, 2019
  • “Market Discipline, Global Financial Development Report, World Bank Group, 2019
  • “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.
  • “Understanding and improving household investment behavior in Brazil A stock market simulator as a learning-by-doing financial literacy tool”, with Aidan Coville, Vincenzo Di Maro, Martin Kanz, Arianna Legovini, Caio Piza, and Astrid Zwager, in “Enhancing financial capability and behavior in low and middle-income countries”, World Bank 2014.
  • “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.

Working papers:

  • “Do Insiders Exploit Anomalies”, with Nejat Seyhun, Jerry Hoberg
  • “The End of Market Discipline? Investor Expectations of Implicit State Guarantees”, with Viral Acharya and Joe Warburton
  • “Do Individual Investors Ignore Transaction Costs?”, with Celim Yildizhan and Snow Han [download]
  • “Do Simulated Gains Lead to Real Losses?”, with Caio Piza, Sugata Ray, and Luqi Xu
  • “It’s Personal, Not Strictly Business: Manager Entrenchment Through Personal Relationships”, with Paul Irvine and Celim Yildizhan

Conferences and Seminars

2018: Culverhouse College of Business, University of Alabama*; George Mason University, School of Business; Lazarides Business School, Wilfred Laurier University; Smith Business School, Queens University; Colorado State University Business School; University of Colorado, Denver

2017: Eastern Finance Association annual meetings*; Paris Financial Management Conference; Terry School of Business, University of Georgia*; Sabanci University*; Koc University*

2016: Ross School of Business, University of Michigan*; Midwest Finance Association annual meetings; Penn/NYU Conference on Law and Finance*; McMaster University

2015: 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

2014: 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*

2013: 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*

2012: Conference on Empirical Legal Studies, Stanford University*; Northern Finance Association annual meeting; World Bank Authors Workshop; Virginia Tech, Pamplin Business School

2011: 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*

2010: 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 Money, Credit and Banking, 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 (2016-)
    • Program committee member:
        • Northern Finance Association (2011-2018)
        • Financial Intermediation Research Society (2018)
        • Eastern Finance Association (2017)
        • Midwest Finance Association (2015)
    • Virginia Tech finance department recruiting committee (2013)
    • World Bank DECFP recruiting committee (2011)
    • Supervised and advised doctoral students and recent graduates at the World Bank and at Virginia Tech (Mian Wang 2012, initial placement China Securities Regulatory Commission Min Zhu 2013, HKUST business school; Snow Han, 2016, San Francisco State University; Mete Tepe, 2017, Institutional Shareholder Services; JinJing Liu, 2019 expected)
    • 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), $150,000
    • DIFID/World Bank Grants (2016, 2010), $100,000
    • Templeton Foundation Grant (2010), $114,000
    • 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)