Michael R. Roberts Faculty Profile

Michael R. Roberts
Assistant Professor of Finance

PhD, University of California at Berkeley, 2001; MA, University of California at Berkeley, 2001; BA, University of California at San Diego, 1992

Research Areas
Coroporate investment and financial policies, applied econometrics

Current Projects
The link between debt contracting and corporate investment, how credit ratings impact corporating investment and financial policies, the dividend policies of publicly- and privately-held firms.

Academic Positions Held
Wharton: 2004-present. Previous appointment: Duke University, Fuqua School of Business

Other Positions
Financial Engineer, FEA Inc., 1998-1999

Career and Recent Professional Awards; Teaching Awards
The Daimler-Chrysler Corporation Award for Innovation and Excellence in Teaching, Fuqua School of Business, 2004; The David W. Hauck Award for Outstanding Teaching, The Wharton School, 2006; The Brattle Prize for Distinguished Paper in The Journal of Finance, 2006

Representative Publications
(with J. R. Graham and R. Michaely)
“Do Price Discreteness and Transactions Costs Affect Stock Returns? Comparing Ex-Dividend Pricing Before and After Decimalization.” The Journal of Finance (2004).

(with M. T. Leary)
“Do Firms Rebalance Their Capital Structures?” The Journal of Finance (2005).

(with J. Boudoukh, R. Michaely, and M. Richardson)
“On the Importance of Measuring Payout Yield: Implications for Empirical Asset Pricing.” The Journal of Finance (2007).

(with A. Sufi)
“Control Rights and Capital Structure: An Empirical Investigation.” (working paper 2007).