Roni Michaely is an Israeli academic specializing in Economics and Finance. Michaely is Professor of Finance at the

University of Hong Kong The University of Hong Kong (HKU) is a public research university in Pokfulam, Hong Kong. It was founded in 1887 as the Hong Kong College of Medicine for Chinese by the London Missionary Society and formally established as the University of ...

, School of Business and Economics. He was also appointed to a director of the

Israel Securities Authority The Israel Securities Authority (ISA) (Hebrew: רשות ניירות ערך) is the national securities regulator of Israel. Established by law in 1968, the Israel Securities Authority sees its mandate as a way to ensure an efficient capital mar ...

(ISA) in January 1998 and also serves as an associate editor for the Review of Financial Studies. Michaely's research interests are in the area of corporate finance, capital markets and valuation. This included research focuses on conflict of interest in the capital markets, corporation payout policy, and the pricing and optimal trading mechanisms of IPOs.

Early life and education

Michaely was born in Israel and studied Economics at the

Tel Aviv University Tel Aviv University (TAU) is a Public university, public research university in Tel Aviv, Israel. With over 30,000 students, it is the largest university in the country. Located in northwest Tel Aviv, the university is the center of teaching and ...

. He obtained his

PhD A Doctor of Philosophy (PhD, DPhil; or ) is a terminal degree that usually denotes the highest level of academic achievement in a given discipline and is awarded following a course of graduate study and original research. The name of the deg ...

from

New York University New York University (NYU) is a private university, private research university in New York City, New York, United States. Chartered in 1831 by the New York State Legislature, NYU was founded in 1832 by Albert Gallatin as a Nondenominational ...

Career

In 1990 he was appointed Rudd Family Professor of Management and professor of finance at Cornell University's

Johnson Graduate School of Management The Cornell Johnson Graduate School of Management is the graduate business school of Cornell University, a private Ivy League research university in Ithaca, New York. Established in 1946, Johnson is one of six List of Ivy League business schools ...

. In 2018 he was

Swiss Finance Institute The Swiss Finance Institute (SFI) is an institute organized as a non-profit foundation. Its purpose is to competitively foster university institutions and networks in research and teaching, aimed at strengthening the position of Switzerland's scie ...

professor of finance at Geneva Finance Research Institute at the

University of Geneva The University of Geneva (French: ''Université de Genève'') is a public university, public research university located in Geneva, Switzerland. It was founded in 1559 by French theologian John Calvin as a Theology, theological seminary. It rema ...

. In 2021 he was appointed Professor of Finance at the

. Michaely published numerous works (several of which received best-paper awards) in refereed journals such as the Review of Financial Studies, the Journal of Finance, the Journal of Business, and the Journal of Financial and Quantitative Analysis. His research has been also frequently featured in the Wall Street Journal, the New York Times, the Economist, Investor's Business Daily, the San Francisco Chronicle, BusinessWeek, Forbes, Barrons, Money, Reuters, Worth, among others. In 2012, Michaely invested in

TipRanks TipRanks is a financial technology company that uses artificial intelligence to analyze financial big data to provide stock market research tools for retail investors. The TipRanks Financial Accountability Engine scans and analyzes financial webs ...

– a tech company that lends transparency into the financial markets by showing investors the track record and performance of anyone who gives financial advice. He is an active member of the board of directors.

Recognition

A 1999-2000 Whitcomb Fellow who received the Johnson School Award for Exceptional Research for 2001–2002, Michaely's research has received several awards and honors. Awards include the 2000 Journal of Finance Smith Breeden Prize for distinguished paper, the 2000 Western Finance Association Award for the best paper on capital formation, the Review of Financial Studies 1999 Barclays Global Investors/Michael Brennan Runner-up Award, the 1999 Western Finance Association Award for the best paper, 1996 Quantitative Alliance Group Prize for best paper, and the 1996 Western Finance Association Award for best paper on investments.

Selected publications

*Allen, F. and R. Michaely (forthcoming). Payout policy. North-Holland Handbooks of Economics. G. Constantinides, M. Harris and R. Stulz. *Ellis, K., R. Michaely and M. O'Hara (2002). "The making of a dealer market: From entry to equilibrium in the trading of NASDAQ stocks." Journal of Finance 57(5): 2289–2316. *Grullon, G., R. Michaely and B. Swaminathan (2002). "Are dividend changes a sign of firm maturity?" Journal of Business 75(3): 387–424. *Grullon, G. and R. Michaely (2002). "Dividends, share repurchases, and the substitution hypothesis." Journal of Finance 57(4): 1649–1684. *Llorente, G., R. Michaely, G. Saar and J. Wang (2002). "Dynamic volume-return relation of individual stocks." Review of Financial Studies 15(4): 1005–1047.

References

{{DEFAULTSORT:Michaely, Roni Cornell University faculty SC Johnson College of Business faculty Living people Year of birth missing (living people)