Malcolm Baker
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Malcolm P. Baker (born c. 1970) is a professor of finance, and a former Olympic rower.


Education

Baker graduated from St. Albans School and began rowing at
Brown University Brown University is a Private university, private Ivy League research university in Providence, Rhode Island, United States. It is the List of colonial colleges, seventh-oldest institution of higher education in the US, founded in 1764 as the ' ...
. As a Freshman he was on a National Championship team and he became the 1991 Outstanding Male Athlete. He also earned a
bachelor's degree A bachelor's degree (from Medieval Latin ''baccalaureus'') or baccalaureate (from Modern Latin ''baccalaureatus'') is an undergraduate degree awarded by colleges and universities upon completion of a course of study lasting three to six years ...
in
applied mathematics Applied mathematics is the application of mathematics, mathematical methods by different fields such as physics, engineering, medicine, biology, finance, business, computer science, and Industrial sector, industry. Thus, applied mathematics is a ...
and economics at Brown in 1992. He raced for the United States National Rowing Team in the 1990 and 1991 World Championships and the
1992 Summer Olympics The 1992 Summer Olympics (, ), officially the Games of the XXV Olympiad (, ) and officially branded as Barcelona '92, were an international multi-sport event held from 25 July to 9 August 1992 in Barcelona, Catalonia, Spain. Beginning in 1994 ...
. At the Olympics his eight-man team finished fourth. Baker earned a M.Phil. in finance from
St Edmund's College, Cambridge St Edmund's College is a Colleges of the University of Cambridge, constituent college of the University of Cambridge in England. Founded in 1896, it is the second-oldest of the three Cambridge colleges oriented to mature students, which accept ...
in 1993, and a PhD in
business economics Business economics is a field in applied economics which uses economic theory and quantitative methods to analyze business enterprises and the factors contributing to the diversity of organizational structures and the relationships of firms wit ...
from
Harvard University Harvard University is a Private university, private Ivy League research university in Cambridge, Massachusetts, United States. Founded in 1636 and named for its first benefactor, the History of the Puritans in North America, Puritan clergyma ...
in 2000. At Cambridge, he helped the crew team defeat the
University of Oxford The University of Oxford is a collegiate university, collegiate research university in Oxford, England. There is evidence of teaching as early as 1096, making it the oldest university in the English-speaking world and the List of oldest un ...
in
The Boat Race The Boat Race is an annual set of rowing races between the Cambridge University Boat Club and the Oxford University Boat Club, traditionally rowed between open-weight eights on the River Thames in London, England. It is also known as the U ...
for only the second time in eighteen contests.


Professional career

Prior to graduate study he was a senior associate at Charles River Associates, and during graduate study he served as a teaching fellow at Harvard University. He has been on the faculty at the
Harvard Business School Harvard Business School (HBS) is the graduate school, graduate business school of Harvard University, a Private university, private Ivy League research university. Located in Allston, Massachusetts, HBS owns Harvard Business Publishing, which p ...
since earning his PhD in 2000. He was an assistant professor from 2001 to 2004, associate professor from 2004 to 2007 and has been a full professor since. As a professor he has written numerous case studies and has been widely published. He has served as associate editor for the ''
Journal of Finance ''The Journal of Finance'' is a peer-reviewed academic journal published by Wiley-Blackwell on behalf of the American Finance Association. It was established in 1946. The editor-in-chief is Antoinette Schoar. According to the ''Journal Citation R ...
'' and the ''
Review of Financial Studies ''The Review of Financial Studies'' is a peer-reviewed academic journal covering the field of finance. It is published by Oxford University Press on behalf of the Society for Financial Studies. It was established following discussions at the 1986 ...
''. During his career he has been a three-time Brattle Prize nominee and a two-time Smith Breeden Prize nominee. In 2002, "Market Timing and Capital Structure" (co-authored with Jeffrey Wurgler) was recognised with the Brattle Prize by the
American Finance Association The American Finance Association (AFA) is an academic organization whose focus is the study and promotion of knowledge of financial economics. It was formed in 1939. Its main publication, the ''Journal of Finance'', was first published in 1946. ...
as the best
corporate finance Corporate finance is an area of finance that deals with the sources of funding, and the capital structure of businesses, the actions that managers take to increase the Value investing, value of the firm to the shareholders, and the tools and analy ...
research paper published in the ''Journal of Finance'' that year. In that same year, he and co-author Jeremy Stein, attributed low abnormal returns following high liquidity to the "dumb investor effect." Baker also serves as a faculty research fellow in the corporate finance program at the
National Bureau of Economic Research The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic co ...
. He has served as an
independent director An independent director (also sometimes known as an outside director) is a member of a board of directors who does not have a material or pecuniary relationship with company or related persons, except sitting fees. In the United States, indepe ...
of board of directors of TAL International Group, Inc. and of each of its US subsidiaries since 12 September 2006,. For his work as a co-author (with Lubomir Litov, Jessica A. Wachter, and Jeffrey Wurgler) of "Can Mutual Fund Managers Pick Stocks? Evidence from Their Trades Prior to Earnings Announcements" in the October 2010 ''
Journal of Financial and Quantitative Analysis The ''Journal of Financial and Quantitative Analysis'' is a peer-reviewed academic journal published eight times a year by the Michael G. Foster School of Business at the University of Washington in cooperation with the W. P. Carey School of Bu ...
'', he earned the William F. Sharpe Award for Best Paper in 2011 for his paper. Baker is also Director of Research at Acadian Asset Management.


Personal

Baker is married with children.


See also

*
List of Cambridge University Boat Race crews This is a list of the Cambridge University crews who have competed in The Boat Race since its inception in 1829. Rowers are listed left to right in boat position from bow to stroke. The number following the rower indicates the rower's weight ...


Notes


External links


Curriculum vitae
{{DEFAULTSORT:Baker, Malcolm 1970s births 21st-century American economists St. Albans School (Washington, D.C.) alumni Alumni of St Edmund's College, Cambridge American expatriate sportspeople in England Brown University alumni Cambridge University Boat Club rowers American financial economists Harvard Business School alumni Harvard Business School faculty Living people Olympic rowers for the United States Rowers at the 1992 Summer Olympics Year of birth missing (living people)