Todd A. Gormley
Assistant Professor of Finance
Research Interests: applied econometrics, corporate finance, risk and insurance, financial intermediation, emerging markets
Todd Gormley is an Assistant Professor of Finance at The Wharton School at the University of Pennsylvania, where he teaches advanced corporate finance in the MBA program and empirical methodologies in the PhD program. Professor Gormley’s research focuses on two broad questions. First, why do managers sometimes fail to act in the best interest of shareholders, and what governance arrangements mitigate these conflicts? And second, how does financial sector competition affect credit access and the incentives of economic agents? His recent research examines how passive institutional investors affect firms' governance and the strategies of activist investors and whether managers have an underlying preference to “play it safe” when external governance is weakened.