Mark J. Garmaise

Professor of Finance; Robert D. Beyer '83 Term Chair in Management

Phone: (310) 794-4118


Mark Garmaise's primary research interests are in the areas of corporate finance, real estate, entrepreneurship and banking. With his co-author Tobias Moskowitz, he received the 2004 BGI Brennan Award for the best paper published in the Review of Financial Studies and the 2005 BGI Brennan Runner-up Award for the best paper published in the Review of Financial Studies. 

Dr. Garmaise teaches the core corporate finance course and an elective on venture capital and private equity. He was awarded the 2006 Eric and “E” Juline Excellence in Research Award, the 2007 Citibank Teaching Award for most outstanding MBA teacher, the 2009 Fully Employed MBA Teaching Excellence Award, the 2011 Full-time MBA Teaching Excellence Award and the 2012 Neidorf Decade Teaching Award. He has published in the Review of Financial Studies, the Journal of Finance and the Quarterly Journal of Economics. Dr. Garmaise taught at the University of Chicago Graduate School of Business before joining the faculty at UCLA Anderson.


Ph.D. Finance, 1998, Stanford University
A.B. Mathematics and Philosophy, Magna Cum Laude 1994, Harvard College


Corporate Finance, Real Estate, Financial Contracting, Banking, Entrepreneurship
  • Mark J. Garmaise. (March 2008). Production in Entrepreneurial Firms: The Effects of Financial Constraints on Labor and Capital. Review of Financial Studies, 21.2, pp. 543-577.
  • Mark J. Garmaise and Tobias Moskowitz. (April 2009). Catastrophic Risk and Credit Markets. Journal of Finance, 64.2, pp.657-707.
  • Mark J. Garmaise and Gabriel Natividad. (June 2010). Information, the Cost of Credit and Operational Efficiency: An Empirical Study of Microfinance. Review of Financial Studies, 23.6, pp. 2560-2590.
  • Mark J. Garmaise. (August 2011). Ties that Truly Bind: Non-competition Agreements, Executive Compensation and Firm Investment. Journal of Law, Economics, and Organization, 27.2, pp. 376-425.
  • Mark J. Garmaise and Gabriel Natividad. (August 2013). Cheap Credit, Lending Operations and International Politics: The Case of Global Microfinance. Journal of Finance, 68.4, pp. 1551-1576.
  • Mark J. Garmaise. The Attractions and Perils of Flexible Mortgage Lending. Review of Financial Studies, forthcoming.
  • Mark J. Garmaise. Borrower Misreporting and Loan Performance. Journal of Finance, forthcoming.
  • Mark J. Garmaise and Gabriel Natividad. Spillovers in Local Banking Markets. [ Download ]
  • Mark J. Garmaise and Gabriel Natividad. Slippery Slope or Wake-up Call? Negative Credit Risk Rating Shocks for Consumers. [ Link ] [ Download ]