Welcome
I am an Assistant Professor of Finance at the University of Michigan Ross School of Business, and Michael R. and Mary Kay Hallman Fellow.
I hold a PhD in economics from Ecole Polytechnique (France). Here is my CV.
Interests: entrepreneurship, financial intermediation, corporate finance, insurance.
Contact: vlyonnet@umich.edu
Research
Publications:
Build or Buy? Human Capital and Corporate Diversification, 2025, Review of Financial Studies. Internet Appendix and Replication Code.
with Paul Beaumont and Camille Hébert
Stereotypes About Successful Entrepreneurs, 2023, AER Papers & Proceedings. Replication Code. [nonrefereed]
with Léa Stern
Can Risk be Shared Across Investor Cohorts? Evidence from a Popular Savings Product, 2022, Review of Financial Studies. Internet Appendix and Replication Code.
with Johan Hombert
Invoicing Currency and Financial Hedging, 2022, Journal of Money, Credit and Banking. Internet Appendix.
with Julien Martin and Isabelle Méjean
Working papers:
Why do Traditional and Shadow Banks Coexist? R&R, Review of Financial Studies.
Lead author - with Edouard Chrétien
Machine Learning About Venture Capital Choices, Feb. 2024.
with Léa Stern
Selected work in progress:
Declining Business Formation and the Rise of Superstar Firms
with Jack Liebersohn
What do Early Stage Investors Ask? An LLM Analysis of Expert Calls
with Amin Shams and Shaojun Zhang
How Do Life Insurers Manage Liquidity Risk?
Which Firms Produce which Type of Innovation?
Teaching
2024--present
Entrepreneurial Finance (University of Michigan Ross BBA)
Venture Capital Finance (University of Michigan Ross MBA)
Private Equity Finance (University of Michigan Ross MBA)
2023/2024
Corporate Finance (Chicago Booth MBA)
2018--2023
Corporate Finance (Ohio State University Undergraduate)
The Financial Economics of Insurance (Ohio State University Finance PhD program)
Entrepreneurship (Ohio State University Finance PhD program)
2017/2018
Mathematics for Economists (Sciences-Po Graduate)
2016/2017
Mathematics for Economists (Sciences-Po Graduate)
2015/2016
Financial Markets (HEC Paris Undergraduate)
Mathematics for Economists (Sciences-Po Graduate)
Graduate Macroeconomics 3 (Sciences-Po PhD Track)
2014/2015
Mathematics for Economists (Sciences-Po Graduate)
Graduate Macroeconomics 3 (Sciences-Po PhD Track)
2013/2014
International Trade (ENSAE Undergraduate)
Graduate Macroeconomics 3 (Sciences-Po Graduate)
Financial Markets (Sciences-Po)
Macroeconomics (ENSAE Undergraduate)
Open Macroeconomics (ENSAE Undergraduate)
Microeconomics (ENSAE Undergraduate)
2012/2013
Macroeconomics (ENSAE Undergraduate)
Macroeconomics (ENSAE Undergraduate)
Microeconomics (ENSAE Undergraduate)