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Denis Gromb Professor of Finance INSEAD Boulevard de
Constance Fontainebleau
77305 FRANCE Email : denis.gromb@insead.edu |
ACADEMIC LINKS
o
IODS (INSEAD OEE
Data Services): First European portal for economic and financial data for
researchers.
PUBLICATIONS
o
“Large
Shareholders, Monitoring and the Value of the Firm” with M. Burkart and F.
Panunzi, Quarterly Journal of Economics (1997)
o
“Selection in
Dynamic Entry Games” with JP. Ponssard and D. Sevy, Games and Economic
Behavior (1997)
o
“Why Higher
Takeover Premia Protect Minority Shareholders” with M. Burkart and F.
Panunzi, Journal of Political Economy (1998)
o
“On the
Strength of Corporate Cultures” with J. Carrillo, European Economic
Review (1999)
o
“Agency
Conflicts in Public and Negotiated Transfers of Corporate Control” with M.
Burkart and F. Panunzi, Journal of Finance (2000)
o
“Equilibrium
and Welfare in Markets with Constrained Arbitrageurs” with D. Vayanos, Journal
of Financial Economics (2002)
o
“Public
Trading and Private Incentives” with A. Faure-Grimaud, Review of
Financial Studies (2004)
o
“Minority
Blocks and Takeover Premia” with M. Burkart and F. Panunzi, Journal of
Institutional and Theoretical Economics (2006)
o
“Culture in
Organizations: Inertia and Uniformity” with J. Carrillo, Journal of Law,
Economics and Organizations (2006)
o
“Collusion
and the Organization of Delegated Expertise” with D. Martimort, Journal
of Economic Theory (2007)
o
“A Model of
Financial Market Liquidity Based on Intermediary Capital” with D. Vayanos, Journal of the European Economic Association
(2010).
o
“Limits of
Arbitrage: The State of the Theory” with D. Vayanos, Annual Review of Financial Economics (2010).
o
“Imperfect Competition in the Interbank Market for
Liquidity as a Rationale for Central Banking” with V. Acharya and T.
Yorulmazer, American Economic Journal:
Macroeconomics (2012)
o
“Legal Investor Protection and
Takeovers” + On-line appendix
with M. Burkart, H. Mueller and F. Panunzi, Journal
of Finance, forthcoming.
BOOK CHAPTERS
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“Arbitrage and Its Limits” with
D. Vayanos, The Palgrave Encyclopedia of Strategic
Management, forthcoming.
WORKING PAPERS
o
“Is One Share
- One Vote Optimal?”
o
“Renegotiation
in Debt Contracts”
o
“Innovation and Dynamic Entry
Deterrence” with D. Sevy
o
“Debt Design, Liquidation Value and
Monitoring” with M. Burkart and F. Panunzi
o
“Entrepreneurship
in Equilibrium” with D. Scharfstein
o
“The Dynamics of Delegated Expertise” with D.
Martimort
o
“Financially
Constrained Arbitrage and Cross-market Contagion” with D. Vayanos.
o
“Liquidity Dry-ups: A Framework and Policy
Implications” with D. Vayanos.
o
“The Dynamics of Financially Constrained
Arbitrage,” with D. Vayanos.
SHORT PAPERS,
COLUMNS, PRESS CITATIONS
o “The ‘Limits to Arbitrage’
Agenda” with D. Vayanos, VOX,
April 10, 2010. VOX is CEPR’s policy portal.
o “Les limites de l’arbitrage : un
nouveau paradigme en Finance” with D. Vayanos,
forthcoming in La Jaune et la Rouge,
special issue on the implications of the crisis for Economics. J&R is the magazine of Ecole
Polytechnique alumni.
o
“Back to School”, Wall Street Journal June 2010 article on
how finance theories must account for the crisis.
- “On
Pricing Anomalies and the Limits of Arbitrage” with D. Vayanos, INSEAD Knowledge, online INSEAD
research digest.
- “Research in Economics, Finance and
Accounting at INSEAD”, a short description of research life at INSEAD.
- “La Recherche en
Economie et Finance à l’INSEAD”, approximately the same in French.
CASE STUDIES
o
“Infineon: Time to
Cash-in Your Chips?” with J. Peress
In late 2011,
Infineon, the German semiconductor giant, is sitting on a EUR 2.4 billion cash
balance representing 40% of its assets. As part of a financial policy review,
management is receiving conflicting advice from different quarters as to
whether to pay out some of the cash holdings, how much and by which methods.
o
“Prada’s Hong
Kong IPO” with A. Di Giuli
TEACHING @ INSEAD
o
MBA: Financial Markets and Valuation, Applied
Corporate Finance, Value Creation in Corporate Restructurings.
o Executive
Education: ABN
AMRO – INSEAD Private Banking Certification Programme
o PhD: Corporate
Finance Theory.
LINKS
o
My former PhD students: Jeffrey Bevelander, Chris
Couch (where are you?), Adolfo
DeMotta (McGill), Martin
Gonzalez Eiras, Jennifer Huang (Texas Austin), Li Jin (HBS), Arvind
Krishnamurthy (Northwestern), Augustin
Landier (Toulouse School of Economics), Jan Mahrt-Smith (Toronto),
Robert
Marquez (Boston University), Oguzhan
Ozbas (USC), Rong Leng, Jason
Sturgess (Georgetown), Oguzhan
Karakas (Boston College), Claudia
Custodio (Arizona State University), Moqi Xu
(LSE), Alminas Zaldokas (HKUST).
o
Friends’ sites you might enjoy:
· Mashid Mohadjerin: Photography.
· Safia Ouares: Video, graphic design,
illustrations.
· Little Ballroom: Cool band.
Visits since December 8th 2006: