Joel Shapiro

__________________

Address: Saïd Business School

                 Park End Street
                 Oxford
               OX1 1HP           UK
Phone:       +44 (0)1865 288973

Email: Joel.Shapiro "at" sbs.ox.ac.uk

CV (pdf)

Google Scholar Page

My Saïd Business School Webpage

PUBLICATIONS

Blockholder Voting (joint with Heski Bar-Isaac) (Journal of Financial Economics, June 2020) Internet Appendix

Credit Ratings and Structured Finance (joint with Jens Josephson) (Journal of Financial Intermediation, January 2020)

A Mechanism for LIBOR (joint with Brian Coulter and Peter Zimmerman) (Review of Finance, March 2018)

Costly Interviews (joint with Jens Josephson) (International Journal of Industrial Organization, March 2016)

Information Management in Banking Crises (joint with David Skeie) (Review of Financial Studies, August 2015)

Executive Compensation and Risk Taking (joint with Patrick Bolton and Hamid Mehran) (Review of Finance, 2015)

Ratings Quality over the Business Cycle (joint with Heski Bar-Isaac) (Journal of Financial Economics, April 2013) Online Appendix

The Credit Ratings Game (joint with Patrick Bolton and Xavier Freixas) (Journal of Finance, February 2012) Internet appendix

Credit Ratings Accuracy and Analyst Incentives (joint with Heski Bar-Isaac) (American Economic Review Papers and Proceedings, May 2011)

Fatalism and Savings (joint with Stephen Wu) (Journal of Socio-Economics, October 2011)

Downsizing and Job Insecurity (joint with Doh-Shin Jeon) (Journal of the European Economic Association, September 2007)

Conflicts of Interest, Information Provision, and Competition in the Financial Services Industry (joint with Patrick Bolton and Xavier Freixas) (Journal of Financial Economics, August 2007)

Wage and Effort Dispersion (Economics Letters, August 2006)

Educational Opportunity and Income Inequality (joint with Igal Hendel and Paul Willen) (Journal of Public Economics, June 2005)

Income Taxation in a Frictional Labor Market (Journal of Public Economics, March 2004)

BOOK CHAPTER

Corporate Governance and Banks: What Have We Learned From the Financial Crisis? (Joint with Hamid Mehran and Alan Morrison) (in “The Crisis Aftermath: New Regulatory Paradigms”, edited by Matthias Dewatripont and Xavier Freixas)

Cultural Failures at Banks: A Review and Possible Solutions (joint with Alan Morrison) forthcoming in "The Future of Large Internationally Active Banks"

WORKING PAPERS

Credit Ratings and Market Information (joint with Alessio Piccolo) revise and resubmit, Review of Financial Studies

Stress Testing and Bank Lending (joint with Jing Zeng) revise and resubmit, Review of Financial Studies

Learning in Bank Runs (joint with Eva Schliephake)

Governance and Culture in the Banking Sector (joint with Alan Morrison)

JOURNAL WORK

I am an associate editor at the Journal of Corporate Finance

CONFERENCE

I co-organize with Alan Morrison the Oxford Financial Intermediation Theory Conference (OxFIT). See previous programs here.

STUDENTS

I have supervised Alessio Piccolo (Indiana University), Peter Zimmerman (Cleveland Fed), and Brian Coulter (private sector).

MEDIA, NON-ACADEMIC PRESENTATIONS, AND CITATIONS

Quoted and “A Mechanism for Libor” featured in Al Jazeera, 2019

Paper on "A Mechanism for LIBOR" featured in Harvard Law School Forum on Corporate Governance and Financial Regulation

Quoted in World Finance about LIBOR reform

The Times features the paper "A Mechanism for LIBOR"

Paper on "Blockholder Voting" featured in Harvard Law School Forum on Corporate Governance and Financial Regulation

Quoted in Financier Worldwide about executive compensation

Quoted in the Financial Times about stress tests for mutual funds

Invited panellist at "A Question of Ethics", discussing the role of ethics in banking, sponsored by the Chartered Accountants of Australia and New Zealand, 2016

Invited panellist at workshop on “The Role of Bank Culture in Financial Reform” at the LSE 2016

Invited panellist on bank corporate governance at Chicago Fed 18^th International Banking Conference

Invited Speaker for Bank of England Internal Workshop on Remuneration Policy 2015

Session chair for Panel on “Bank Culture and Financial Reform: What Works?” at theLondon School of Economics 2015

Article I wrote on Executive Compensation and Risk Taking for The Conversation

EU Workshop Proceedings on Credit Rating Agencies - Implementation of Legislation cites "Ratings Quality over the Business Cycle"

Speech by Daniel Tarullo (Board of Governors) citing "Corporate Governance and Banks: What have We Learned From the Financial Crisis?

Presentation on Alternatives to Credit Ratings for regulators

Interviewed in the Portuguese newspaper Publico about the credit ratings industry

The Liikanen Report on EU banking reform cites "Corporate Governance and Banks: What Have We Learned From the Financial Crisis?"

Quoted in The Street about governance of financial institutions

SEC study cites "The Credit Ratings Game" and "Ratings Quality over the Business Cycle"

Evidence submitted to Parliament on Credit Rating Agencies citing points made in "The Credit Ratings Game"

Spanish Blog (Nada es Gratis) on "Corporate Governance and Banks: What Have We Learned From the Financial Crisis"

VOX article on the Corporate Governance of Financial Institutions by Hamid Mehran, Alan Morrison, and me

Article on Dealbreaker on "Executive Compensation and Risk Taking"

Harvard Law School Forum on Corporate Governance and Financial Regulation features "Corporate Governance and Banks: What Have We Learned From the Financial Crisis?"

Article in Business Insider on "Executive Compensation and Risk Taking"

Wall Street Journal Online blog summarizes "Executive Compensation and Risk Taking"

Runner-up for research prize sponsored by the International Centre for Financial Regulation and the Financial Times

Article in the Financial Times by Gillian Tett on "Executive Compensation and Risk Taking"

Interview on BBC Radio about "Executive Compensation and Risk Taking" (comes on around minute 10)

Webcast for the Global Association of Risk Professionals (GARP) on "Executive Compensation and Risk Taking" (you need to register)

Harvard Business Review blog discussion of "Executive Compensation and Risk Taking"

New Palgrave Dictionary of Economics Online entry for Credit Rating Agencies

SEC proposed rules citing "The Credit Ratings Game" (see pages 3, 13, and 20)

World Bank Blog citing "The Credit Ratings Game"

VOX article written by Patrick Bolton, Xavier Freixas and me on the Credit Ratings Industry

Quoted in CFA magazine discussing conflicts of interest in the provision of retail financial products