Photo of Todd A. Gormley

Todd A. Gormley

Assistant Professor of Finance

Research Interests: applied econometrics, corporate finance, risk and insurance, financial intermediation, emerging markets

Links: Personal Website, PhD lecture notes, CV, Lecture slides for "Common Errors" paper, Guidance on implementing fixed effects estimation

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.   



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

Academic Positions Held

Wharton: 2009-present.
Olin Business School, Washington University in St. Louis, 2006-2009