NYU’s Stern School of Business boasts a renowned faculty in finance, attracting some of the brightest minds in the field. Their research spans a broad range of topics, impacting both academic understanding and real-world financial practices.
Robert Engle, a Nobel laureate, is perhaps one of the most recognized names. His pioneering work on autoregressive conditional heteroskedasticity (ARCH) models revolutionized the way financial professionals analyze and predict risk, particularly volatility in financial markets. His models are widely used for asset pricing, portfolio optimization, and risk management.
Viral Acharya focuses his research on systemic risk, financial regulation, and corporate finance. He has significantly contributed to understanding the causes and consequences of financial crises and has advised policymakers globally on strategies to prevent future crises. His work on contingent convertible (CoCo) bonds is particularly noteworthy, exploring their role in bank recapitalization during times of stress.
Thomas Philippon examines the relationship between finance and economic growth. His research often highlights the increasing cost of financial intermediation and its potential negative impact on overall economic productivity. He analyzes the efficiency of the financial sector and its role in allocating capital to productive investments. He is an expert on financial history and its implications for the present.
Jennifer Carpenter‘s expertise lies in asset pricing and behavioral finance. Her research explores how investor behavior, biases, and psychological factors influence asset prices. She studies topics like momentum trading, overconfidence, and the impact of emotions on investment decisions. This allows for a more nuanced understanding of market dynamics beyond purely rational models.
Laura Veldkamp‘s work centers on information economics and its application to finance. She studies how the flow of information affects asset prices, investment decisions, and macroeconomic outcomes. Her research delves into the role of news, expectations, and learning in shaping financial markets. This provides insights into the efficiency of markets and the impact of information asymmetries.
Stephen Figlewski is an expert in derivatives and risk management. He has published extensively on options pricing, hedging strategies, and the use of derivatives for risk transfer. His work is practically oriented, providing valuable tools and insights for financial professionals involved in trading and managing risk in derivatives markets.
These are just a few examples of the many distinguished finance professors at NYU Stern. Their research not only contributes to the academic literature but also has significant implications for the financial industry and policymakers worldwide. Through their teaching and research, they are shaping the future of finance and educating the next generation of financial leaders.