Featured Research

Our Finance area faculty conduct research on a number of different topics important to the finance profession. Below are a few examples of our recent work.

Mortgage Prepayments: Factors beyond Interest Rate Movements

A model estimates the impact of economic variables on the pricing of prepayment risk


Sizing Up the Measurable Good of Affirmative Action

An economic model sets aside who loses and focuses on efficiency and overall growth


Chinese Investors Learn about Derivatives the Hard Way

Avanidhar Subrahmanyam’s examination of warrant trading reveals individuals’ poor grasp of complex securities


Single-Family Rentals: What Drives Investor Return?

Andrea Eisfeldt’s unique data set provides fresh insights for the growing institutional investor market

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How Tech's Disruption Alters Investors' Appetite for Risk

New technology’s upending of the old creates demand for alternative assets to offset risk


The Housing Meltdown Would Have Been Far Worse Without California’s Anti-Foreclosure Laws

Restraining lenders saved hundreds of billions in home value


Local-Level Mortgage Lending: How Competition Pushes Rates Higher, Not Lower

A study finds unexpected impact when a disruptive player enters market

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When Younger Investors Overreact to News, Others Feel It

Inexperienced investors, lacking historical context, impact markets


In China, Big Investors Have Brilliant Timing ― Or Do They Know Someone?

A scan of a million brokerage accounts finds the wealthy trade ahead of market-moving news


Clues to the Market When Mortgage Originators Delay Securitization

With high-quality borrowers hard to judge from afar, Alt-A market offers quiet signal on creditworthiness