Anat R Admati

George G.C. Parker Professor of Finance and Economics

Professor of Management Science and Engineering (by courtesy), School of Engineering

Professor of Economics (by courtesy), School of Humanities and Sciences 

Michelle R. Clayman Faculty Fellow for 2013-14

Phone: (650) 723-4987

Email: admati_anat@gsb.stanford.edu

CV: AdmatiCV

Academic Areas: Finance

Anat Admati is the George G.C. Parker Professor of Finance and Economics at the Graduate School of Business, Stanford University. She has written extensively on information dissemination in financial markets, trading mechanisms, portfolio management, financial contracting, and, most recently, on corporate governance and banking.  Since 2010, she has been active in the policy debate on financial regulation, particularly capital regulation, writing research and policy papers and commentary. She is a coauthor of the book, “The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It". http://bankersnewclothes.com/

Professor Admati received her BS from the Hebrew University in Jerusalem and her MA, MPhil and PhD from Yale University. She is the recipient of a Sloan Research Fellowship, a Batterymarch Fellowship, and multiple research grants. She is a fellow of the Econometric Society, and has served as a board member of the American Finance Association and on multiple editorial boards. She also serves on the FDIC Systemic Resolution Advisory Committee.

Bio

Academic Degrees

PhD, 1983; MA, Yale Univ., 1981; BSc, Hebrew Univ., Jerusalem, 1979.

Professional Experience

At Stanford since 1982.

Selected Publications

  • Forcing Firms to Talk: Financial Disclosure Regulation and Externalities: Review of Financial Studies, 2000
  • Robust Financial Contracting and the Role of Venture Capitalists: Journal of Finance, 1994
  • The Wall Street Walk and Shareholder Activism: Exit as a Form of Voice: Review of Financial Studies,, 2009
  • Large Shareholder Activisim, Risk Sharing, and Financial Market Equilibrium: Journal of Political Economy, 1994
  • A Theory of Intraday Patterns: Volume and Price Variability: Review of Financial Studies, 1988
  • Strategic Delay in Bargaining: Review of Economic Studies, 1987
  • Does It All Add Up? Benchmarks and the Compensation of Active Portfolio Managers: Journal of Business, 1997

Working Papers

  • 2043: Increased-Liability Equity: A Proposal to Improve Capital Regulation of Large Financial Institutions
  • 2065R: Fallacies, Irrelevant Facts, and Myths in the Discussion of Capital Regulation: Why Bank Equity is Not Expensive
  • 698R: Measuring Investment Performance in a Rational Expectations Equilibrium Model
  • 699: A Closed Form Solution for a Multi-Asset Rational Expectations Equilibrium Model
  • 737: A Noisy Rational Expectations Equilibrium for Musti-Asset Securities Markets
  • 782: The Value of Information in Speculative Trading
  • 797R: A Monopolistic Market for Information
  • 836: Information in Financial Markets: The Rational Expectations Approach
  • 847R: Viable Allocations of Information in Financial Markets
  • 868: On Timing and Selectivity
  • 874R: Strategic Delay in Bargaining
  • 899R: Direct and Indirect Sale of Information
  • 927R3: A Theory of Intraday Trading Patterns: Volume and Price Variability
  • 966R2: Joint Projects Without Commitment
  • 978: Selling and Trading on Information in Financial Markets
  • 1002: Divide and Conquer: A Theory of Intraday and Day-of-the-Week Mean Effects
  • 1112: Sunshine Trading and Financial Market Equilibrium
  • 1125: The Informational Role of Prices. A Review Essay
  • 1170R: Robust Financial Contracting and the Role of Venture Capitalists
  • 1220: Large Shareholder Activism, Risk Sharing, and Financial Market Equilibrium
  • 1395: Does It All Add Up? Benchmarks and the Compensation of Active Portfolio Managers
  • 1470R: Forcing Firms to Talk: Financial Disclosure Regulation and Externalities
  • 1670R: Noisytalk.com: Broadcasting Opinions in a Noisy Environment
  • 1918R2: The "Wall Street Walk" and Shareholder Activism: Exit as a Form of Voice

Selected Cases

  • F255: Liz Claiborne, Inc.

Courses Taught

Affiliations

  • Associate Editor: Journal of Finance (1990 - present)
  • Advisory Board Member: Journal of Financial Markets (1998 - present)
  • Fellow: The Econometric Society (2005 - present)
  • Founding Member; President: Foundation for the Advancement of Research in Financial Economics (2006 - present)
  • Associate Editor: The Review of Financial Studies (1987 - 1991)

In The Media