Paul Pfleiderer
The C.O.G. Miller Distinguished Professor of Finance
Director, Corporations and Society Initiative
Academic Area:
Bio
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.
Research Interests
- Market Microstructure
- Asset Allocation
- Corporate Governance
- Regulation of Financial Institutions
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.
Awards and Honors
- Susan Ford Dorsey Faculty Fellow for 2021–22
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.
Journal Articles
Working Papers
Book Chapters
Degree Courses
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Cases
In the Media
In TechCrunch, Paul Pfleiderer says the "the answer is clearly, 'No.'"
Stanford Business School Research in Behavioral Finance: Where Stock Market Psychology and Pricing Intersect