Lynch, Anthony W. Professor, Finance Joined Stern 1994 Phone:  (212) 998-0350 Fax :     (212) 995-4223 Office:   KMEC 9-97 Email:    alynch@stern.nyu.edu 44 West Fourth Street Suite 9-190 New York, NY 10012-1126

Academic Affiliations:

• Research Associate, NBER, 2002-present

Education:

• Ph.D., Finance and Economics, University of Chicago, 1994
• Bachelor of Laws, University of Queensland, 1989
• Master of  Financial Management, University of Queensland, 1988
• Bachelor of Commerce, First Class Honors, University of Queensland, 1986

Teaching:

• Foundations of Finance (Core MBA)
• Finance Theory I (Ph.D)

Research Interests:

• Asset Pricing
• Mutual Funds
• Portfolio Choice
• Transaction Costs and Illquidity Risk
• Financial Econometrics
• Corporate Finance

Publications:

• Lynch, A. and J. Wachter, 2013. Using Samples of Unequal Length in Generalized Method of Moments Estimation. Journal of Financial and Quantitative Analysis 48, 277-307.
• Lynch, A. and Tan, S., 2011. Explaining the Magnitude of Liquidity Premia: The Roles of Return Predictability, Wealth Shocks and State-dependent Transaction Costs.  Journal of Finance 66, 1329-1368.
• Lynch, A. and Tan, S., 2011. Labor Income Dynamics at Business-cycle Frequencies: Implications for Portfolio Choice. Journal of Financial Economics 101, 333-359.
• Lynch, A. and Tan, S., 2009. Multiple Risky Assets, Transaction Costs and Return Predictability: Allocation Rules & Implications for U.S. Investors., Journal of Financial and Quantitative Analysis 45, 1015-1053.
• Gervais, S., A. Lynch and D. Musto, 2005. Delegated Monitoring of Fund Managers: An Economic Rationale, Review of Financial Studies, 18, 1139-1169 (lead article).
• Lynch, A. and D. Musto, 2003. How Investors Interpret Past Fund Returns, Journal of Finance 58, 2033-2058.
• Carhart, M., J. Carpenter, A. Lynch, and D. Musto, 2002. Mutual Fund Survivorship, Review of Financial Studies 15, 1439-1463.
• John, K., A. Lynch, and M. Puri, 2003. Credit Ratings, Collateral and Loan Characteristics: Implications for Yield, Journal of Business 76,371-410 (lead article).
• Lynch, A., 2001. Portfolio Choice and Equity Characteristics: Characterizing the Hedging Demands Induced by Return Predictability, Journal of Financial Economics 62, 67-130.
• Lynch A. and P. Balduzzi, 2000. Predictability and Transaction Costs: The Impact on Rebalancing Rules and Behavior, Journal of Finance 55, 2285-2310.
• Carpenter, J. and A. Lynch, 1999. Survivorship Bias and Attrition Effects in Measures of Performance Persistence, Journal of Financial Economics 54, 337-374.
• Fluck, Z. and A. Lynch, 1999. Why Firms Merge and then Divest: A Theory of Financial Synergy, Journal of Business 72, 319-346.
• Balduzzi, P. and A. Lynch, 1999. Transaction Costs and Predictability: Some Utility Cost Calculations, Journal of Financial Economics 52.
• Lynch, A. and R. Mendenhall, 1997. New Evidence on Stock Price Effects Associated with Changes in the S&P 500, Journal of Business 70, 351-384.
• Lynch, A., 1996. Decision Frequency and Synchronization Across Agents: Implications for Aggregate Consumption and Equity Return, Journal of Finance 51, 1479-1498.

Working Papers:

• de Souza, A. and A. Lynch, 2012. Does Mutual Fund Performance Vary over the Business Cycle?
• Lynch, A. and O.Randall, 2014. Why Surplus Consumption in the Habit Model May be Less Persistent than You Think.
• Lynch, A. and T. Vital-Ahuja, 2012. Can Subsample Evidence Alleviate the Data-Snooping Problem?: A Comparison to the Maximal R2 Cutoff Test.
• Lynch, A., 2015. Portfolio Choice with Many Risky Assets, Market Clearing and Cash Flow Predictability. Under revision.