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 (forthcoming)
"Experimentation and the Returns to
Entrepreneurship" Review of Financial Studies (forthcoming)
"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.
"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.
"Macroeconomic Risk and Debt Overhang" (with Hui Chen)
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.
Organizer of the First Workshop of the Finance Theory Group (with Itay
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'')
Organizing Committee Member:
Western Finance Association Meetings, 2007-present
European Finance Association Meetings, 2013
Society for Economic Dynamics, 2011
First Workshop of the Finance Theory Group (with Itay Goldstein)