Todd A. Gormley

Washington University in St. Louis

Associate Professor of Finance

One Brookings Drive

Campus Box 1133

St. Louis, MO 63130-4899

United States

http://www.gormley.info

  • Washington University in St. Louis

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    • Tel: (314) 935-7171
SCHOLARLY PAPERS

17

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CITATIONS
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81

Scholarly Papers (17)

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1.

Passive Investors, Not Passive Owners

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 77 Posted: 03 Aug 2014 Last Revised: 15 Mar 2016
Ian Appel, Todd A. Gormley and Donald B. Keim
Boston College - Carroll School of Management, Washington University in St. Louis and University of Pennsylvania - Wharton School
Downloads 3,735 (2,238)
Citation 2

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corporate governance, institutional ownership, passive funds, performance

2.

Common Errors: How to (and Not to) Control for Unobserved Heterogeneity

Review of Financial Studies, 2014, 27(2), 617-61, AFA 2013 San Diego Meetings Paper
Number of pages: 58 Posted: 17 Mar 2012 Last Revised: 17 Jun 2014
Todd A. Gormley and David A. Matsa
Washington University in St. Louis and Northwestern University - Kellogg School of Management
Downloads 2,768 (3,785)
Citation 17

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unobserved heterogeneity, group fixed effects, industry-adjust, bias

3.

Playing It Safe? Managerial Preferences, Risk, and Agency Conflicts

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 68 Posted: 14 Jul 2014 Last Revised: 21 Jul 2016
Todd A. Gormley and David A. Matsa
Washington University in St. Louis and Northwestern University - Kellogg School of Management
Downloads 2,112 (5,948)

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risk aversion, managerial preferences, agency conflicts, acquisitions

4.

CEO Compensation and Corporate Risk: Evidence from a Natural Experiment

Journal of Accounting & Economics (JAE), 2013, 56(2-3), pp. 79-101., AFA 2012 Chicago Meetings Paper
Number of pages: 57 Posted: 02 Dec 2010 Last Revised: 17 Jun 2014
Todd A. Gormley, David A. Matsa and Todd T. Milbourn
Washington University in St. Louis, Northwestern University - Kellogg School of Management and Washington University in Saint Louis - Olin Business School
Downloads 2,004 (6,491)
Citation 13

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legal liability, regulatory risk, tail risk, stock options, compensation, managerial incentives

5.

Standing on the Shoulders of Giants: The Effect of Passive Investors on Activism

Downloads 1,951 ( 6,805)

Standing on the Shoulders of Giants: The Effect of Passive Investors on Activism

Number of pages: 70 Posted: 01 Mar 2016 Last Revised: 15 Jul 2018
Ian Appel, Todd A. Gormley and Donald B. Keim
Boston College - Carroll School of Management, Washington University in St. Louis and University of Pennsylvania - Wharton School
Downloads 1,931 (6,782)

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activism, passive funds, corporate control, proxy fights

Standing on the Shoulders of Giants: The Effect of Passive Investors on Activism

NBER Working Paper No. w22707
Number of pages: 55 Posted: 03 Oct 2016
Ian Appel, Todd A. Gormley and Donald B. Keim
Boston College - Carroll School of Management, Washington University in St. Louis and University of Pennsylvania - Wharton School
Downloads 20 (505,205)

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6.

The Impact of Foreign Bank Entry in Emerging Markets: Evidence from India

Journal of Financial Intermediation, Vol. 19, No. 1, 2010
Number of pages: 54 Posted: 20 Jun 2006 Last Revised: 17 Jun 2014
Todd A. Gormley
Washington University in St. Louis
Downloads 1,718 (8,466)
Citation 18

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Foreign Banks, Asymmetric Information, India

7.

Growing Out of Trouble? Corporate Responses to Liability Risk

Review of Financial Studies, 2011, 24(8), pp. 2781-2821., 2009 Western Finance Association Conference Paper
Number of pages: 65 Posted: 16 Apr 2009 Last Revised: 17 Jun 2014
Todd A. Gormley and David A. Matsa
Washington University in St. Louis and Northwestern University - Kellogg School of Management
Downloads 854 (24,981)
Citation 13

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legal liability, acquisitions, payout policy, capital structure, managerial agency

8.

Costly Information, Entry, and Credit Access

Journal of Economic Theory, Forthcoming
Number of pages: 73 Posted: 18 Apr 2006 Last Revised: 17 Jun 2014
Todd A. Gormley
Washington University in St. Louis
Downloads 672 (34,833)
Citation 4

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Asymmetric Information, Competition, Credit, Financial Liberalization

9.

Quiet Life No More? Corporate Bankruptcy and Bank Competition

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 49 Posted: 19 Mar 2010 Last Revised: 20 Nov 2016
Todd A. Gormley, Nandini Gupta and Anand Jha
Washington University in St. Louis, Indiana University - Kelley School of Business - Department of Finance and Indiana University - Kelley School of Business - Department of Business Economics & Public Policy
Downloads 668 (35,121)

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Bankruptcy, creditor rights, bank competition, managerial incentives

10.

Do Public Equity Markets Matter in Emerging Economies? Evidence from India

Review of Finance, 2013, 17, pp. 1571-1615., AFA 2009 San Francisco Meetings Paper
Number of pages: 57 Posted: 28 Aug 2007 Last Revised: 17 Jun 2014
Todd A. Gormley and Radhakrishnan Gopalan
Washington University in St. Louis and Washington University in St. Louis - John M. Olin Business School
Downloads 631 (37,850)
Citation 1

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Public Equity Markets, Emerging Economies, Crises, India

11.

Limited Participation and Consumption-Saving Puzzles: A Simple Explanation and the Role of Insurance

Journal of Financial Economics (JFE), Vol. 96, No. 2, 2010, AFA 2009 San Francisco Meetings Paper
Number of pages: 42 Posted: 17 Mar 2006 Last Revised: 17 Jun 2014
Todd A. Gormley, Hong Liu and Guofu Zhou
Washington University in St. Louis, Washington University in St. Louis - Olin Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 488 (52,690)
Citation 3

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limited participation, saving, consumption, insurance

12.

Ending 'To Big To Fail': Government Promises vs. Investor Perceptions

Review of Finance, Forthcoming, AFA 2010 Atlanta Meetings Paper
Number of pages: 40 Posted: 23 Mar 2009 Last Revised: 17 Jun 2014
Todd A. Gormley, Simon Johnson and Changyong Rhee
Washington University in St. Louis, Massachusetts Institute of Technology (MIT) - Entrepreneurship Center and Asian Development Bank
Downloads 450 (58,322)
Citation 1

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Financial Development, Political Economy, Crisis

13.

Who’s Paying Attention? Measuring Common Ownership and Its Impact on Managerial Incentives

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 568/2018
Number of pages: 51 Posted: 06 May 2018 Last Revised: 29 Aug 2018
Erik Gilje, Todd A. Gormley and Doron Levit
University of Pennsylvania - The Wharton School, Washington University in St. Louis and University of Pennsylvania - Finance Department
Downloads 402 (66,893)

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Common Investors, Indexing, Institutional Ownership, Managerial Incentives

14.

Do Firms Adjust Their Timely Loss Recognition in Response to Changes in the Banking Industry?

Journal of Accounting Research, 2012, 50(1), pp. 159-196., AFA 2010 Atlanta Meetings Paper
Number of pages: 59 Posted: 10 Sep 2008 Last Revised: 17 Jun 2014
Todd A. Gormley, Bong Hwan Kim and Xiumin Martin
Washington University in St. Louis, Seoul National University and Washington University in Saint Louis - Olin School of Business
Downloads 354 (77,638)
Citation 5

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Bank Entry, Information, Timely Loss Recognition, India

15.

Director Bankruptcy Experience and Corporate Risk Taking

Kelley School of Business Research Paper No. 18-78
Number of pages: 47 Posted: 14 Sep 2018
Radhakrishnan Gopalan, Todd A. Gormley and Ankit Kalda
Washington University in St. Louis - John M. Olin Business School, Washington University in St. Louis and Indiana University - Kelley School of Business - Department of Finance
Downloads 85 (274,582)

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board of directors, directors, bankruptcy, experience, advising role of directors

16.

Ending 'Too Big to Fail': Government Promises vs. Investor Perceptions

Review of Finance, Forthcoming, Asian Development Bank Economics Working Paper Series No. 314
Number of pages: 40 Posted: 22 Oct 2012 Last Revised: 17 Jun 2014
Todd A. Gormley, Simon Johnson and Changyong Rhee
Washington University in St. Louis, Massachusetts Institute of Technology (MIT) - Entrepreneurship Center and Asian Development Bank
Downloads 58 (338,703)
Citation 2

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Financial Development, Political Economy, Crisis

17.

Ending "Too Big to Fail": Government Promises vs. Investor Perceptions

NBER Working Paper No. w17518
Number of pages: 56 Posted: 22 Oct 2011 Last Revised: 01 Nov 2011
Todd A. Gormley, Simon Johnson and Changyong Rhee
Washington University in St. Louis, Massachusetts Institute of Technology (MIT) - Entrepreneurship Center and Asian Development Bank
Downloads 27 (451,294)
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Other Papers (2)

Total Downloads: 951    Citations: 3
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1.

Identification Using Russell 1000/2000 Index Assignments: A Discussion of Methodologies

Number of pages: 8 Posted: 10 Aug 2015 Last Revised: 31 Mar 2016
Ian Appel, Todd A. Gormley and Donald B. Keim
Boston College - Carroll School of Management, Washington University in St. Louis and University of Pennsylvania - Wharton School
Downloads 622

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instrumental estimation, regression discontinuity, Russell indexes

2.

'Too Big to Fail': Government Policy vs. Investor Perceptions

Number of pages: 50 Posted: 16 Mar 2006 Last Revised: 30 Jun 2011
Todd A. Gormley, Simon Johnson and Changyong Rhee
Washington University in St. Louis, Massachusetts Institute of Technology (MIT) - Entrepreneurship Center and Asian Development Bank
Downloads 329
Citation 3

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Financial Development, Institutions, Economic Crisis