Michael R. Roberts Faculty Profile
Michael R. Roberts
Associate 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
Corporate investment, capital structure, and payout policy; security design and contract renegotiation; empirical asset pricing; applied econometrics
Current Projects
Examining the implications of financial contract renegotiation for asset prices.
Academic Positions Held
Wharton: 2004-present. Previous appointments: Duke University, Fuqua School of Business; University of California at Berkeley
Other Positions
Visiting Scholar, Federal Reserve Bank of Philadelphia, 2007; Financial Engineer, FEA Inc., 1998-1999; Senior Analyst, Regional Economic Research, 1992-1995
Career and Recent Professional Awards; Teaching Awards
Excellence in Teaching, Duke University, Fuqua School of Business, 2004; The David W. Hauck Award for Outstanding Teaching, The Wharton School, 2006; Excellence in Teaching Award, The Wharton School, 2006 & 2008; The Brattle Prize for Distinguished Paper in The Journal of Finance, 2006
Professional Leadership 2005-2009
Editorial Board, Journal of Financial and Quantitative Analysis, 2006–present; Financial Research Letters, 2007–present; International Review of Finance, 2008–present
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 M. Lemmon and J. Zender)
“Back to the Beginning: Persistence and the Cross-Section of Corporate Capital Structure” The Journal of Finance (2008).
(with S. Chava)
“How Does Financing Impact Investment? The Role of Debt Covenants.” The Journal of Finance (2008).
| 
