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Todd A. Gormley
Assistant Professor of Finance


Education PhD, (Economics), Massachusetts Institute of Technology, 2006 BA (Economics, magna cum laude), Michigan State University, 2001

Academic Positions Held Wharton: 2009-present. Previous Appointment: Olin Business School, Washington University in St. Louis, 2006-2009

For more information, go to My Personal Page

Publications
Todd A. Gormley, Bong Hwan Kim, Xiumin Martin (2011), Do Firms Adjust Their Timely Loss Recognition in Response to Changes in the Banking Industry?, Journal of Accounting Research
Todd A. Gormley, David A. Matsa (2011), Growing Out of Trouble? Corporate Responses to Liability Risk, Review of Financial Studies, 24(8), 2011, pp. 2781-2821
Todd A. Gormley (2010), The Impact of Foreign Bank Entry in Emerging Markets: Evidence from India, Journal of Financial Intermediation, 19(1), 2010, pp. 26-51.
Todd A. Gormley, Hong Liu, Guofu Zhou (2010), Limited Participation and Consumption-Saving Puzzles: A Simple Explanation and the Role of Insurance, Journal of Financial Economics, 96(2), 2010, pp. 331-344

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Current Research
Todd A. Gormley, David A. Matsa 2011, Estimation in the Presence of Unobserved Group-Level Heterogeneity
Todd A. Gormley, Simon Johnson, Changyong Rhee 2011, Too Big to Fail? Government Policy vs. Investor Perceptions
Todd A. Gormley, David A. Matsa, Todd Milbourn 2011, CEO Compensation and Corporate Risk-Taking: Evidence from a Natural Experiment
Todd A. Gormley, Radha Gopalan 2011, Do Public Equity Markets Matter in Emerging Economies? Evidence from India
Todd A. Gormley, Nandini Gupta, Anand Jha 2011, Corporate Bankruptcy and Creditor Incentives

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Knowledge@Wharton Subscribe
The Making of a Daredevil CEO: Why Stock Options Lead to More Risk Taking, 07/06/2011, Todd A. Gormley

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Honors And Awards
Excellence in Teaching Award -- Wharton MBA Elective, 2011
Nominated for Helen Kardon Moss Anvil Award, 2011
Brandywine Global Investment Management Research Fellowship, 2011
Most Significant Paper in Journal of Financial Intermediation, 2010
Best Paper in Corporate Finance, WFA Meetings, 2009

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Gormley A. Todd
Todd A. Gormley
 2425 Steinberg-Dietrich Hall
3620 Locust Walk
Philadelphia, PA 19104
Phone: (215) 746-0496
tgormley@wharton.upenn.edu

Research Interests:
Corporate finance; financial intermediation; risk and insurance; emerging markets; applied econometrics