Paul Pfleiderer

Professor, Finance
+1 (650) 723-4495

Paul Pfleiderer

The C.O.G. Miller Distinguished Professor of Finance

Susan Ford Dorsey Faculty Fellow for 2021–22
Academic Area:

Research Statement

Paul Pfleiderer’s early research was primarily focused on issues arising in financial markets when traders are asymmetrically informed. In pursuing that research he developed theoretical models that analyze how information is incorporated in prices through trading and how information flows determine trading volume. He also analyzed how information is sold to investors when the value of the information is reduced the more widely it is disseminated. In other research he studied problems involved in measuring active funds’ performance, contracting concerns in venture financing, and policy issues related to disclosure requirements. His most recent research addresses issues in corporate governance and the regulation of banks and other financial institutions.

Research Interests

  • Market microstructure
  • Asset allocation
  • Corporate governance
  • Regulation of financial institutions


Paul Pfleiderer received BA, MPhil, and PhD degrees from Yale University, all in the field of economics. He has been teaching at Stanford since 1981. His research, much of which has been jointly pursued with Anat Admati, another professor of finance at the GSB, is generally concerned with issues that arise when agents acting in financial markets are differentially informed. His current research concerns corporate governance. In addition to his academic research, Professor Pfleiderer has consulted for various corporations and banks and has been involved in developing risk models and optimization software for use by portfolio managers.

Academic Degrees

  • PhD in Economics, Yale University, 1982
  • MPhil in Economics, Yale University, 1979
  • BA, Yale University, 1976

Academic Appointments

  • At Stanford University since 1981.


Journal Articles

Book Chapters

Working Papers


Executive Education & Other Non-Degree Programs

Learn the elements of sound decision making. Gain tools to systematically evaluate all possible risks and opportunities to make better decisions with greater certainty.
Learn how to make better financial management decisions to increase the value of your company in the marketplace.
Learn how to grow and scale your company in this 11-month program ​for CEOs and founders of established businesses in Africa and South Asia.
Transform knowledge into impact and drive innovation in your organization with Stanford LEAD, our flagship online business program.

Stanford Case Studies

In the Media

Insights by Stanford Business

School News