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.
I study the economics of regulation: how regulation is formed and how regulation affects economic decisions. I use 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; Southern Finance Association (SFA) (X2); Financial Management Association (FMA); University of Georgia Finance Conference; Workshop on Strategic Interactions in Corporate Finance; University of Chicago (SIOE); University 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 Bank of Philadelphia; China Europe International Business School (CEIBS); Tilburg University; Maastricht University; Queen's University; 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