I work in the Finance Department, University of Minnesota where I am a Professor of Finance and Piper Jaffray Endowed Faculty Fellow. I have also been a Visiting Professor at the Shanghai Advanced Institute of Finance for a number of years.
E-mail: murra280@umn.edu
Virtual Corporate Finance Seminars
In early 2020 due to Covid-19, some of us were concerned about the potential impact on academic seminars and conferences in corporate finance. As a result Gordon Phillips (Dartmouth), Max Maksimovic (Maryland) and I, created a virtual weekly seminar series for corporate finance. It started May 2020, and we generally run during the teaching terms - except during the recruiting months. Michael Weisbach (OSU) joined us as an organizer in 2022. Seminar schedules, see: https://sites.google.com/site/uscfom/weekly-virtual-seminar
Midwest Finance Association
I was the President of the MFA in 2017-2018 and I still have a soft spot for the organization, see https://midwestfinance.org/.
My MFA Presidential address from San Antonio 2018 was about the impact of Machine Learning on finance. This is a topic of particular interest to me since Is All That Talk Just Noise? The Information Content of Internet Stock Message Boards, 2004 Journal of Finance (with Werner Antweiler).
Recent papers
Empirical Corporate Capital Structure, November 2022 (with Vidhan Goyal). Forthcoming, Handbook of Corporate Finance (D. Denis editor).
The Effect of Taxation on Corporate Financing and Investment (with Hong Chen) 2022, Review of Corporate Finance Studies, 11, 47 - 87, Editorial Paper Spolight by Uday Rajan
Financing Corporate Growth (with Ali Sanati) 2021, Review of Financial Studies, 34, 4926 - 4998, Presentation slides, 2020 Virtual Corporate Finance
Working papers
The Changing Structure of Corporate Profits 2024 January, (with Jing Gao)
Monetary Policy and Corporate Investment: The Equity Financing Channel 2024 January, (with Beyhaghi, McLemore, and Sanati).
Targets and the Trade-Off Theory of Capital Structure, July 2023 (with Hong Chen)
Behavioral Machine Learning? Computer Predictions of Corporate Earnings also Overreact, May 2023 (with Jing Gao and Keer Yang) Presentation Slides, 2023 Minnesota
Debt Financing Investment in the Long Run, 2021 (with Hong Chen), Presentation slides, 2021 Maryland
Discussions at conferences
2020 NFA, discussion of Halling, Yu and Zechner, The Dynamics of Corporate Debt Structure
Teaching materials
Masters Level (MSF and MBA)
Machine Learning for Finance, MSF 2021, 2022
Finance in the Macroeconomy, MSF 2021, 2022, 2023
PhD Level
Empirical Corporate Finance, PhD 2020, 2022, 2023