Curriculum Vitae

Tuck School of Business
Dartmouth College
100 Tuck Hall
Hanover, NH 03755 USA


  • Ph.D., M.A. (1991) Harvard University
  • B.A. (1986) Northwestern University

Academic Positions

  • Laurence F. Whittemore Professor of Finance, Tuck School of Business, 2022–present
  • Faculty Adviser, Center for Private Equity and Venture Capital, Tuck School of Business, 2021–present
  • Laurence F. Whittemore Professor of Business Administration, Tuck School of Business, 2018–present
  • Faculty Director, Center for Private Equity and Venture Capital, Tuck School of Business, 2016–21
  • C.V. Starr Foundation Professor and Faculty Director of the Center for Private Equity and Entrepreneurship, Tuck School of Business, 2016–18
  • Charles E. Cook - Community Bank Chair and Professor of Finance and Business Economics, University of Southern California, January, 2012-December, 2015.
  • Bank of America Professor of Finance, University of Maryland, 2008-2011, Professor, 2004- 2008, Associate Professor, 1999-2004, Assistant Professor, 1995-1999.
  • Insead, Visiting Scholar, 2009-2010.
  • HEC-Paris, Visiting Professor, Spring 2010.
  • MIT Sloan School of Management, Visiting Professor, 2001-2002.
  • Duke University, Visiting Professor, Spring 2003.
  • Assistant Professor of Management, Finance Department, Purdue University, 1991-1995.

Other Positions

  • Research Associate, National Bureau of Economic Research, 2002-present.
  • President, Midwest Finance Association, March 2020-March 2021, Vice President, 2019-2020.
  • Director, American Finance Association, 2020-2023.
  • Panel member, National Science Foundation, 2009-2010.
  • Associate Editor and Academic Director, Financial Management Association, 2009-present.
  • Associate Editor, Review of Corporate Financial Studies, 2010-present.
  • Associate Editor, Annals of Finance, 2004-present.
  • Associate Editor, Finance Research Letters, 2008-present.
  • Associate Editor, Review of Financial Studies, 2003-2006.
  • Associate Editor, Journal of Corporate Finance, 2002-present.
  • Associate Editor, Journal of Financial Research, 2006-2011.
  • Associate Editor, Lecture Notes in Economics and Mathematical Systems, 1999-2002.

Research Grants

  • National Science Foundation, Co-Principal Investigator, 2019-2021. 3 year research grant with Kyle Herkenho for $299,976. Title: The Impact of Consumer Credit Access on Earnings Mobility, Entrepreneurship and Income Inequality."
  • National Science Foundation, Co-Principal Investigator, 2019-2020, with Gerard Hoberg, Craig Knoblock, Jay Pujara and Louiqa Raschid for $1,000,000. Title: “Exploiting Financial and Economic Data - Business OKN.”
  • National Science Foundation, Co-Principal Investigator, 2019-2020, with Kyle Herkenhoff for $299,976. Title: “The Impact of Consumer Credit Access on Earnings Mobility, Entrepreneur- ship and Income Inequality.”
  • Equitable Growth Foundation, Co-Principal Investigator, 2017, with Kyle Herkenhoff for $47,500 to study the impact of personal credit on earnings, employment and entrepreneurship.
  • National Science Foundation,  Co-Principal Investigator,  2016-2018.  2 year research  grant, with Gerard Hoberg, Craig Knoblock and Pedro Szekely for $518,000 to study competition, and industry change through text-mining of private and public firm webpages.
  • National Science Foundation, Co-Principal Investigator, 2011-2016. 5 year research grant, 3 years extended, with Ethan Cohen-Cole for $478,306 to study the role of personal credit in new business formation.
  • National Science Foundation, Co-Principal Investigator, 2008-2011. 3 year research grant with Brent Goldfarb and Vojislav Maksimovic, for $349,000 to study the role of organizational form in exploiting patents and   innovation.
  • National Science Foundation, Co-Principal Investigator, 2002-2004. 3 year research grant with Vojislav Maksimovic, for $287,882 to study the role of finance in industry evolution and tech- nology adoption.
  • National Science Foundation, Co-Principal Investigator, 1997-1999. 2 year research grant with Vojislav Maksimovic, for $163,800 to study capital structure and the time-series dimensions of mergers and asset  sales.
  • ASA/NSF Research Fellowship, 1994-1995. Fellowship funded by the American Statistical Association and the National Science Foundation.


  • Keynote address, Financial Management Association Asia, “Industries and Competition: New Foundations for Corporate Finance and Asset Pricing,” July, 2019.
  • Keynote address, Southern Denmark University, “Financial and Organizational Decisions over the Firm and Industry Life Cycle,” June,    2019.
  • Keynote address, Stockholm School of Economics, “Product Integration and Merger Success,” April, 2016.
  • Keynote address, Claremont McKenna College, “(The Need for) Industrial Organization Foun- dations for Corporate Finance and Asset Pricing, ” October, 2015.
  • Keynote address, Nordic Finance Association, May 2010, “Industrial Organization and Corpo- rate Finance.”
  • Keynote address, Brazilian Finance Association, July 2010, “Finance and Product Market Competition:  New Developments and Research  Possibilities.”
  • Series of five invited research lectures as the A.B. Freeman Distinguished Visiting Professor at Tulane University, Spring  2008.
  • ASA/NSF Research Fellowship, 1994-1995. Fellowship funded by the American Statistical Association and the National Science   Foundation.
  • Judy Olian Research Fellowship, 2001 and 2002, “The Role of Finance in Firm Survival and Industry  Consolidation.”
  • General Research Board Research Fellowship, 1996, University of Maryland. “Bankruptcy, Financing Decisions and the Reallocation of Industry    Capacity.”
  • Research Fellowship, Purdue University, 1994, “Capital Structure and Product Market Rivalry: An Examination of Plant Closing and Investment Decisions.”
  • Dean’s Fellowship, 1986-1991, Harvard Business School.
  • Departmental Honors in Mathematical Methods, 1986, Northwestern University. Frederick Deibler Award for economics honors thesis, 1986, Northwestern University.

Papers Under Review and Finished Papers


Conference Organization

  • Finance, Organizations and Markets, Director of Research Group and Program Organizer 2013-2015.
  • Western Finance Association, 2014 Associate Program Chair, 1998, 2001, 2007, 2013 session chairs and 1998-current program committees.
  • Program committees: Financial Intermediation Research (FIRS), 2008-11, European Finance Association (EFA), 2010-11, Paris Corporate Finance conference, 2010-11.
  • Frontiers of Finance program chair, 2008-09, committee, 2006, 2007. Washington Area Finance Symposium, program committee.
  • Financial Management Association, 1997, 1999, 2002 program committees.


Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Fi- nancial Management, American Economic Review, Jorunal of Financial Intermediation, Journal of Finance and Quantitative Analysis, European Economic Review, International Journal of Industrial Organization, Journal of Industrial Economics, Quarterly Journal of Economics, Rand Journal of Economics, Review of Economics and Statistics, Review of Economics Studies

University Service

  • Keyston Chair Search Committee, 2013-2014.
  • Promotion and Tenure Committee, 2013-2015 (3 year appointment).
  • Ph.D. Committee, 2013-2014.
  • Chair of Masters of Science in Finance (MS) committee, 2002-2008, 2010-2011.
  • Chair of Teaching Evaluation committee, 2010.
  • Coordinator of MBA finance core, 1998-2003 (except 2001-02).
  • Committee to evaluate technology portal.
  • Committee to evaluate teaching in the evening MBA program.
  • MBA core teaching faculty committee.
  • Washington Week ELM: arranged sessions for MBA students in 4 different years (7 sessions total over 4 years).

Departmental Service

  • Co-chair Finance Recruiting Committee 2013-2015.
  • Annual Performance Review Committee 2013-2014 (2 years).
  • Chair of Finance Ph.D. program, 2007-2009.
  • First National Bank of Maryland seminar co-coordinator (8 different semesters).
  • Head of MBA curriculum committee in finance, 2003-2007.
  • Co-director, Maryland Finance Symposium (2 day academic conference).
  • Department of Finance Recruitment Committee, multiple years.
  • Department of Finance Ph.D. Committee.
  • In charge of developing and maintaining the finance department website for 3 years.

Teaching Innovation and Recognition

  • Recipient of Krowe (2 times) and Wikler Teaching Awards for Teaching Excellence in MBA core and elective courses.
  • Student ratings in the top 15 percent of MBA courses for second year MBA corporate finance course.
  • Designed Corporate Finance Ph.D. course on finance - industrial organization interactions.

Ph.D. Dissertation Committees

  • Yuan Li, (member), Cornerstone.
  • Shiwon Song, (member), Insead University.
  • John Bai, (chairman), Northestern University.
  • Katie Moon, (co-chairman), Securities and Exchange Commission.
  • Giorgo Sertsios, (co-chairman), University of Houston.
  • Michael Padhi, (chairman), American University.
  • Tanakorn Makaew, (committee member), University of South Carolina.
  • Liu Yang, (committee member), UCLA.
  • Hernan Ortiz Molina, (co-chairman), UBC.
  • Meghana Ayyagari, (committee member), George Washington University.
  • Jason Faberman, (committee member), BLS.
  • Paul Lengermann, (committee member), Federal Reserve Board of Governors.
  • Kim Baird, (committee member), Federal Reserve Board of Governors.
  • Bin Jiang, (committee member), McKinnsey & Co.
  • Solomon Tadesse, (committee member), Pennsylvania State University.
  • Peter MacKay, (co-chairman), Southern Methodist University.
  • Gayle Erwin, (committee member), Virginia.
  • Julie Hunsaker, (committee member), Wayne State University.
  • Jeff Allen, (committee member), Southern Methodist University.
  • Bob Chan, (co-chairman), Chinese University of Hong Kong.
  • Kyle Steigart, (committee member), Kansas State University.
  • Greg Kadlec, (committee member), Virginia Polytechnic University.
  • Tina Galloway, (committee member), Miami University.

Book Chapters and Reviews

  • "Discussion of A Measure of Competition Based on 10-K Filings," Journal of Accounting Research, Vol. 51, 437-447, 2013
  • With V. Maksimovic, "Conglomerate Firms and Internal Capital Markets"Handbook of Corporate Finance: Empirical Corporate Finance, ed. B. Espen Eckbo, Handbooks in Finance Series, Elsevier/North-Holland, April, 2007, 423-475