Haas School of Business, University of California
at Berkeley, 2012-present.
William A. and Betty H. Hasler
Chair in New Enterprise Development, 2015-present.
Associate Professor of Finance,
MIT Sloan School of Management, 2006-2011.
Associate Professor of Finance,
Maurice F. Strong Career Development Professor of Management, 2009-2011.
Assistant Professor of Finance, 2006-2010.
Ph.D. in Finance, Stanford Graduate School of Business, 2001-2006.
M.S in Mathematics, Instituto de Matemática Pura e Aplicada (IMPA), Brazil, 1999-2001.
B.A. in Economics, Pontifícia Universidade Católica (PUC-Rio), Brazil, 1995-1999.
Exchange Student, University of California at Berkeley, 1997-1998.
Corporate Finance, Entrepreneurship, and Innovation.
"Independent Boards and Innovation" (with Ben
Balsmeier and Lee Fleming) Journal of
Financial Economics vol. 123, pp. 536-557, 2017
"Macroeconomic Risk and Debt Overhang" (with Hui
Review of Corporate Finance Studies vol. 6, pp. 1-38, 2017
"Experimentation and the Returns to
Entrepreneurship" Review of Financial Studies vol. 29,
pp. 2319-2340, 2016
"Information Percolation in Segmented Markets" (with Darrell Duffie and Semyon Malamud) <
Journal of Economic Theory, vol. 157, pp.1130--1158, 2015.
"Incentives to Innovate and the Decision to Go
Public or Private" (with Daniel Ferreira and Andre Silva).
Review of Financial Studies, vol. 27, pp. 256-300, 2014.
"Libertarian Paternalism, Information Sharing,
and Financial Decision-Making" (with Bruce Carlin and Simon
Review of Financial Studies vol. 26, pp. 2204-2228, 2013.
"Feedback Effects of Credit Ratings."
Journal of Financial Economics vol. 109, pp. 535-549, 2013.
"Is Pay-for-Performance Detrimental to
Innovation?" (with Florian Ederer).
Management Science, vol. 59, pp. 1496-1513, 2013.
"Incentives and Creativity: Evidence from the Academic Life Sciences"
(with Pierre Azoulay and Joshua Graff Zivin).
Rand Journal of Economics , vol. 42, pp. 527-554, 2011.
Journal of Finance, vol. 66, pp. 1823-1869, 2011.
"Governance Through Trading and Intervention: A Theory of Multiple Blockholders" (with Alex Edmans).
Review of Financial Studies, vol. 24, pp. 2395-2428, 2011.
"The Relative Contributions of Private Information Sharing
and Public Information Releases to Information Aggregation" (with Darrell Duffie and Semyon Malamud).
Journal of Economic Theory, vol. 145, pp. 1574-1601, 2010.
"Obfuscation, Learning, and the Evolution of Investor Sophistication" (with Bruce Carlin).
Review of Financial Studies, vol. 23, pp. 754-785, 2011.
"Information Percolation with Equilibrium Search Dynamics" (with Darrell Duffie and Semyon Malamud),
Econometrica, vol. 77, pp. 1513-1574, 2009.
"Performance-Sensitive Debt" (with Bruno
Strulovici and Alexei Tchistyi), Review of Financial Studies,
vol. 23, pp. 1819-1854, 2010.
"Information Percolation" (with Darrell Duffie
and Gaston Giroux), American Economic Journal:
Microeconomics, vol. 2, pp. 100-111, 2010.
"Investment Reversibility and Agency Cost of
Debt," Econometrica, vol. 76, pp. 437-442, 2008.
"Information Percolation in Large Markets." (with Darrell Duffie),
American Economic Review P&P., vol. 97, pp. 203-209, 2007.
"Creating Incentives for Innovation,
California Management Review (forthcoming)
"NIH Peer Review: Challenges and Avenues for
Reform" (with Pierre Azoulay and Joshua Graff Zivin),
NBER Book Series on Innovation Policy and the Economy vol13,
pp. 1--21, 2013.
"Incentives for Innovation: Bankruptcy, Corporate
Governance, and Compensation Systems" (with Florian
Ederer). Handbook of Law, Innovation, and Growth, Edward
Elgar Publishing, 2011.
"Heterogeneous Innovation Over the Business
Cycle" (with Benjamin Balsmeier and Lee Fleming)
"Innovation Search Strategy and Predictable
Returns: A Bias for Novelty" (with Tristan Fitzgerald, Benjamin
Balsmeier, and Lee Fleming)
"Shareholder Litigation and Corporate Innovation"
(with Chen Lin and Sibo Liu)
World's Best 40 Business School Professors under the Age of 40, Poets & Quants, 2016.
Entrepreneurial Finance and Innovation Conference Asper Best Paper Award, 2014.
Earl F. Cheit Award for Excellence in Teaching, 2012.
Swiss Finance Institute Outstanding Paper Award, 2010.
Review of Financial Studies Young Researcher Award, 2009.
NBER IPE Grant, "Incentives and Creativity," 2007-2008.
Lehman Brothers Fellowship for Research Excellence in Finance, First Prize, 2005.
Stanford Institute for Economic Policy Research (SIEPR) Fellowship, 2005-2006.
Student Travel Award, American Finance Association, 2005.
Jaedicke Merit Award, Stanford Graduate School of Business, 2001-2002.
GSB Fellowship, Stanford Graduate School of Business, 2001-2006.
Award for Academic Achievement, Instituto Matemática Pura e Aplicada, 2001.
Academic Excellence Scholarship, Pontifícia Universidade Católica, 1995-1999.
First place in admission exams, Pontifícia Universidade Católica, 1995.
Referee for American Economic Review, American Economic
Journal: Microeconomics, Economic Inquiry
, Economic Journal, Economic Theory,
Journal of Accounting Research ,
Economic Theory, Journal of Finance, Journal of
Financial Economics, Journal of
Financial Intermediation, Journal of Financial and
Journal of Political Economy, Journal of Public
Economics, Management Science,
Quarterly Journal of Economics,
Review of Economics and Statistics,
Review of Economic Studies, Review of Finance,
Review of Financial Studies.
Western Finance Association, 2017 (``Entrepreneurship and Innovation'')
American Finance Association, 2016 (``R&D, Patents, and Innovation'')
American Finance Association, 2015 (``Corporate Finance, Financial Institutions, and Financial Markets'')
American Finance Association, 2014 (``Managerial Incentives I'')
Crowdfunding Conference, 2013 (``Setting the Research Agenda'')
Finance Cavalcade, 2011 (``Finance and Innovation'')
Society for Economic Dynamics, 2011 (``Dynamics of Financial Markets'')
Western Finance Association Meetings, 2011 (``Asset Pricing: Technology,
American Finance Association Meetings, 2011 (``Capital
Structure: Beyond Debt and Equity'')
Program Committee Member:
Western Finance Association Meetings, 2007-present
European Finance Association Meetings, 2013-present
Financial Management Association, 2015-present
European Winter Finance Conference, 2007-present
Latin American Meeting of the Econometric Society (LAMES), 2014
Entrepreneurial Finance and Innovation Conference, 2013-2014
Crowdfunding Conference, 2013
Society for Economic Dynamics, 2011
Finance and Innovation Conference (with Lee Fleming), 2017
First Workshop of the Finance Theory Group (with Itay