Joseph Kalmenovitz
I am an Assistant Professor of Finance at the Simon Business School (University of Rochester).
Before joining Simon, I was a faculty member at Drexel University and a senior law clerk at the Supreme Court of Israel. I graduated from New York University in May 2020 with a PhD in Finance.
My research is about the economics of regulation: understanding how regulation affects economic decisions. I investigate this topic using advanced empirical methods and novel data sets. My papers have been published in the Journal of Finance, the Review of Financial Studies, and the Journal of Law and Economics. I received the Rising Scholar Award (2022) and the John W. Ryan Award (2023).
[CV] [Google Scholar] [Rochester] [Email1] [Email2]
PUBLICATIONS:
Regulatory Similarity (with Jason Chen). Journal of Law and Economics, forthcoming. Data; Slides
Regulatory Fragmentation (with Michelle Lowry & Kate Volkova). Journal of Finance, forthcoming. Data; Slides; FinReg Blog; Best Paper Award (FMARC); Best Paper Award (Korean Securities Association)
Regulatory Intensity and Firm-Specific Exposure. Review of Financial Studies, 36(8), August 2023, Pages 3311-3347. Data; Slides; Harvard Law School
Incentivizing Financial Regulators. Review of Financial Studies, 34(10), October 2021, Pages 4745–4784. RFS Rising Scholar Award. Data; Slides.
WORKING PAPERS:
(I do not disclose R&R status)
Escaping Pay-for-Performance (with Jason Chen & Jakub Hajda). Slides; Best Paper Award (Wellington Finance Summit)
Much Ado About Nothing? Overreaction to Random Regulatory Audits (with Sam Antill). Slides
Follow the Pipeline (with Suzanne Chang & Alejandro Lopez-Lira). Data; Slides; Best Paper Award (Sydney Banking Conference)
Closing the Revolving Door (with Siddharth Vij & Kairong Xiao). Slides; Gupta Governance Institute; The Visible Hand; ProMarket; Best Paper Award (FMCG)
Regulatory Risk Perception and Small Business Lending (with Siddharth Vij). Data; Slides; John W. Ryan Award; Video
The Environmental Consequences of Pay Inequality (with Jason Chen). Slides
Does Regulatory Exposure Create M&A Synergies? (with Eli Fich & Tom Griffin). Slides
PRESENTATIONS (2024):
(including scheduled & by co-authors)
NBER Law and Economics; Western Finance Association (WFA); American Law & Economics Association (ALEA); American Finance Association (AFA); SFS Cavalcade North America; NYU-Penn Law & Finance Conference; University of Georgia Finance Conference; Workshop on Strategic Interactions in Corporate Finance; University of Chicago (SIOE); Univeristy of Pennsylvania (Regulation & Governance) (X2); Eastern Finance Association (EFA); Bretton Woods Accounting and Finance Ski Conference; FMA Napa Finance Conference; Wellington Finance Summit; Financial Engineering and Banking Society; Global Finance Conference; FMA Europe; FMA Applied Finance Conference; Auburn University; National Chengchi University; National Taiwan University; Hebrew University; Stanford University; Federal Reserve Board of Governors; China Europe International Business School (CEIBS); Tilburg University; Maastricht University; Queen's University (X2); Columbia University; Harvard University; Rochester University; Fordham University; Texas A&M University
OTHER MATERIALS:
An Introduction to Regulatory Economics: slides
A quick guide for the perplexed PhD student (teaching notes): slides
A non-technical summary of my work: article; slides; YouTube