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


  • Ian Appel, Todd A. Gormley, Donald B. Keim (Working), Standing on the Shoulders of Giants: The Effect of Passive Investors on Activism.  Abstract
  • Todd A. Gormley, Nandini Gupta, Anand Jha (Under Revision), Quiet Life No More? Corporate Bankruptcy and Bank Competition.  Abstract
  • Ian Appel, Todd A. Gormley, Donald B. Keim (2016), Passive Investors, Not Passive Owners, Journal of Financial Economics, Forthcoming.  Abstract
  • Todd A. Gormley, David A. Matsa (2016), Playing it Safe? Managerial Preferences, Risk, and Agency Conflicts, Journal of Financial Economics, Forthcoming.  Abstract
  • Todd A. Gormley, Donald B. Keim, Ian Appel (Work In Progress), Identification Using Russell 1000/2000 Index Assignments: A Discussion of Methodologies.  Abstract
  • Todd A. Gormley, Simon Johnson, Changyong Rhee (2015), Ending 'Too Big to Fail': Government Promises vs. Investor Perceptions, Review of Finance, 19, 491 - 518.  Abstract
  • Todd A. Gormley, David A. Matsa (2014), Common Errors: How to (and Not to) Control for Unobserved Heterogeneity, Review of Financial Studies, 27 (2).  Abstract  Related Materials
  • Todd A. Gormley (2014), Costly Information, Entry, and Credit Access, Journal of Economic Theory, 154, 633 - 667.  Abstract
  • Todd A. Gormley, David A. Matsa, Todd Milbourn (2013), CEO Compensation and Corporate Risk-Taking: Evidence from a Natural Experiment, Journal of Accounting and Economics, 56 (2-3), 79 - 101.  Abstract  Related Materials
  • Radha Gopalan, Todd A. Gormley (2013), Do Public Equity Markets Matter in Emerging Economies? Evidence from India, Review of Finance, 17, 1571 - 1615.  Abstract  Related Materials
  • Todd A. Gormley, Bong Hwan Kim, Xiumin Martin (2012), Do Firms Adjust Their Timely Loss Recognition in Response to Changes in the Banking Industry?, Journal of Accounting Research, 50 (1), 159 - 196.  Abstract
  • Todd A. Gormley, David A. Matsa (2011), Growing Out of Trouble? Corporate Responses to Liability Risk, Review of Financial Studies, 24 (8), 2781 - 2821.  Abstract
  • 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), 331 - 344.  Abstract
  • Todd A. Gormley (2010), The Impact of Foreign Bank Entry in Emerging Markets: Evidence from India, Journal of Financial Intermediation, 19 (1), 26 - 51.  Abstract