Research

The Fama-Miller Center is designed to encourage more academic research in finance, a discipline that constantly evolves. The last few decades have brought an explosion of new markets, instruments, and financial institutions. We have seen rapid changes in the nature of and access to information. In this environment, the Fama-Miller Center has become a vital resource.

"We intend to make sure Chicago Booth remains the top global destination for finance researchers," Sunil Kumar, former dean of the school, has said. "Finance is one of our core strengths, and we have no intention of resting on our laurels."

Browse working papers from the Fama-Miller Center »

Research activities at the Fama-Miller Center currently focus on the following topics:

Empirical and Theoretical Research on High-Frequency Trading and Financial Market Design
Eric Budish, Steven G. Rothmeier Professor of Economics and Centel Foundation/Robert P. Reuss Faculty Scholar

Politics in the Firm
Emanuele Colonnelli, Assistant Professor of Finance, Liew Family Junior Faculty Fellow, and Fama Faculty Fellow

Global Portfolio Investment and Currency Risk Management in a Low-rate Environment
Wenxin Du, Associate Professor of Finance and Fama Faculty Fellow and Ralph Koijen, AQR Capital Management Distinguished Service Professorship

The Cost of Capital
Niels Gormsen, Neubauer Assistant Professor of Finance and Asness Junior Faculty Fellow

The Dynamics of Shock Propagation: Theory and Evidence
Kilan Huber, Assistant Professor of Economics

Impact Preferences: Evidence from U.S. Depositors
Agustin Hurtado, Finance PhD Student

The Evolution of Human Capital Restrictions
Jessica Jeffers, Assistant Professor of Finance

The Externalities of Fire Sales: Evidence from Collateralized Loan Obligations
Shohini Kundu, Finance PhD Student

What Explains Geographic Variation in Corporation Investment? A Tale of Colonial Hangover
Shohini Kundu, Finance PhD Student and Nishant Vats, Finance PhD Student

The Importance of Investor Heterogeneity: An Examination of the Corporate Bond Market
Jian (Jane) Li, Finance PhD Student

The Pricing of Risky Debt: An Application to Commercial Real Estate
Joseph Pagliari, Clinical Professor of Real Estate

ETF Activeness and Trade-Offs
Lubos Pastor, Charles P. McQuaid Professor of Finance and King Steel Faculty Fellow

Bank Enforcement Actions and Lending to Minorities
Rimmy Tomy, Associate Professor of Accounting