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Why a PhD?
I attended Wharton as an undergraduate and then worked at a consulting firm in New York that dealt with management strategy for banks and insurance companies. Much of the work was research-intensive, and while I enjoyed that aspect of my job, I missed being in an academic setting. I felt that a PhD would put me in a better position to conduct research, teach, or eventually work at a place like the World Bank.
What are your research interests?
I am interested in empirical corporate finance, specifically examining the effects of financing and operational decisions on company valuations. My first working paper, "An Efficiency Perspective on the Gains from Mergers and Asset Purchases" (with Missaka Warusawitharana, a Wharton PhD now at the Fed) is currently meandering it's way through the conference circuit. My second working paper looks at the theory and evidence of whether well-known characteristics that affect IPO underpricing do so based on the offering size or on the company size.
Why did you choose Wharton?
With its vast resources and superlative faculty, Wharton is one of the best places in the world to study finance, and there was a degree of comfort in returning to the school where I did my undergraduate study. Wharton has scholars from every single sub-discipline, so, for just about anything you want to research, there's someone who knows something about it. After doing some due diligence, I also discovered that Wharton students consistently reported high rates of overall satisfaction and that the school had a good record of job placement for PhDs.
What are some of the biggest challenges of being back at school?
From the beginning of the program, there are some fairly standard challenges, such as time management. Another is transitioning from coursework to research. From the second year research paper through to choosing and completing a dissertation, the process demands building relationships with professors, catching up on previous research, and seeking out feedback from conference participants, academic advisers and fellow students (basically anyone who's willing to give feedback).
How is the access to faculty?
The PhD faculty encourages curiosity but does not tolerate laziness. If you have a question and you've done your groundwork, you will get a very good response. Your professors also become more involved as you pass your preliminary exams and move toward the research stage of the program. At that point, professors will often contact students with research projects or new data sources that could lead to research ideas.
What is the community like?
Among students, there is always a healthy interplay of ideas. We often discuss concepts after class. It is easy to make connections with other doctoral students.
Where do you see yourself going after graduation?
Coming into the program, my very short-term goal was to find new intellectual challenges. For the longer term, I want to go into some sort of research that's impactful. Whether that's in academia or the nonprofit world, this degree will be incredible preparation.
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