Robert W. Vishny
Encyclopedia
Robert Ward Vishny is an American economist and is the Myron S. Scholes Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. He was the Eric J. Gleacher Distinguished Service Professor of Finance at the University of Chicago Booth School of Business.
He received his A.B.
with highest distinction (economics, mathematics, and philosophy) from the University of Michigan
in 1981 and Ph.D.
(Economics
) from Massachusetts Institute of Technology
in 1985.
He is one of the prominent representatives of the school of behavioral finance
. His research activities include: market for corporate control; corporate governance
around the world; privatization and the role of government in the economy; behavior of institutional investors; behavior of stock prices; the economics of corruption and rent-seeking behavior. His research papers (many of them written jointly with Andrei Shleifer
, Rafael LaPorta and Josef Lakonishok) are among the most often cited research works in the field of economic sciences in recent years.
Dr. Vishny heads the NBER
Program in Corporate Finance. In 1994 he has founded (along with Josef Lakonishok and Andrei Shleifer
) LSV Asset Management (LSV) - a quantitative value equity manager providing active management for institutional investors through the application of proprietary investment models based on the principles of behavioural finance. He is still actively involved in the firm as one of its founding partners and portfolio managers.
He received his A.B.
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
with highest distinction (economics, mathematics, and philosophy) from the University of Michigan
University of Michigan
The University of Michigan is a public research university located in Ann Arbor, Michigan in the United States. It is the state's oldest university and the flagship campus of the University of Michigan...
in 1981 and Ph.D.
Ph.D.
A Ph.D. is a Doctor of Philosophy, an academic degree.Ph.D. may also refer to:* Ph.D. , a 1980s British group*Piled Higher and Deeper, a web comic strip*PhD: Phantasy Degree, a Korean comic series* PhD Docbook renderer, an XML renderer...
(Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
) from Massachusetts Institute of Technology
Massachusetts Institute of Technology
The Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
in 1985.
He is one of the prominent representatives of the school of behavioral finance
Behavioral finance
Behavioral economics and its related area of study, behavioral finance, use social, cognitive and emotional factors in understanding the economic decisions of individuals and institutions performing economic functions, including consumers, borrowers and investors, and their effects on market...
. His research activities include: market for corporate control; corporate governance
Corporate governance
Corporate governance is a number of processes, customs, policies, laws, and institutions which have impact on the way a company is controlled...
around the world; privatization and the role of government in the economy; behavior of institutional investors; behavior of stock prices; the economics of corruption and rent-seeking behavior. His research papers (many of them written jointly with Andrei Shleifer
Andrei Shleifer
Andrei Shleifer is a Russian American economist. From its inauguration in 1992 until it was shut down in 1997, Shleifer served as project director of the Harvard Institute for International Developments Russian aid project...
, Rafael LaPorta and Josef Lakonishok) are among the most often cited research works in the field of economic sciences in recent years.
Dr. Vishny heads the NBER
National Bureau of Economic Research
The National Bureau of Economic Research is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." The NBER is well known for providing start and end...
Program in Corporate Finance. In 1994 he has founded (along with Josef Lakonishok and Andrei Shleifer
Andrei Shleifer
Andrei Shleifer is a Russian American economist. From its inauguration in 1992 until it was shut down in 1997, Shleifer served as project director of the Harvard Institute for International Developments Russian aid project...
) LSV Asset Management (LSV) - a quantitative value equity manager providing active management for institutional investors through the application of proprietary investment models based on the principles of behavioural finance. He is still actively involved in the firm as one of its founding partners and portfolio managers.
Selected works
- Vishny, Robert W, & LaPorta, R. & Lopez-de-Silanes, F. & Shleifer, A. Law and Finance, Journal of Political Economy, 1998, 106(6), pp. 1113.
- Vishny, Robert W. & Shleifer, A. A Survey of Corporate Governance, Journal of Finance, 1997, 52(2), pp. 737–83.
- Vishny, Robert W. & Shleifer, A. The Limits of Arbitrage, Journal of Finance, 1997, 52(1), pp. 35–55.
- Vishny, Robert W. & Lakonishok, J. & Shleifer, A. Contrarian Investment, Extrapolation and Risk, Journal of Finance 1994, 49(5), pp. 1541–78.
- Vishny, Robert W. & Shleifer, A. Large Shareholders and Corporate Control, Journal of Political Economy, 1986, 94(3, Part 1), pp. 461–88.
External links
- Robert W. Vishny - Robert W. Vishny's Site at NBER with collection of his paper
- BusinessWeek - A Businessweek article profiling Robert W. Vishny
- LSV Asset Management Website
- University of Chicago Booth School of Business Faculty webpage