Shyam Venkatesan

Visiting Assistant Professor

A. B. Freeman School of Business
Tulane University

My research focuses on the role, importance, and functioning of financial intermediaries. In contrast to classical finance that assumes a frictionless market, my research explores the distortions created by the presence of financial intermediaries and studies their effects on asset prices and market efficiency.

I specifically focus on the issues relating to delegated portfolio management. This industry has grown exponentially in the last couple of decades and owns over 70% of the aggregate U.S. stock market. I study the personal characteristics of portfolio managers and the implications of these characteristics for relevant outcome variables. I use both theoretical models and empirical analyses to a) research the economic contributions of portfolio managers, and b) the potential agency problems and its implications for capital allocation, risk taking, compensation structure, and flow of money.

1. Overconfidence in Money Management: Balancing the Benefits and Costs  
    Job Market paper

2. Mutual Fund Risk-Shifting and Management Contracts
    Under Review at the Journal of Financial Economics

    Co-authors: Jung Hoon Lee and Charles Trzcinka

    Conference presentations:
        Financial Intermediation Research Society (2016)
        Financial Research Association (2015)
        Northern Finance Association (2015)

    Seminar presentations:
        Indiana University
        University of Illinois at Chicago
        University of Missouri
        University of Massachusetts Boston
        University of Notre Dame

3. Real Options, Financial Constraints and Drilling Rig Rental Rates
    In preparation

    Co-authors: with Zeigham Khokher and Sheridan Titman

    Conference presentations:
        Financial Research Association Early Ideas Session (2015)

4. Measuring the skill of the fund manager

    Seminar presentations:
        Indiana University brown bag seminar series
        University of Connecticut
        University of Wisconsin, Eau Claire
        Radford University

5. Cost of marketability and benefit of liquidity: evidence from peer‐to‐peer lending

    Co-authors: Hong Kee Sul and Brian Wolfe