Alex Shapiro Joined in 1998 as an Assistant Professor of Finance NYU, Stern, Department of Finance Email: ashapiro@stern.nyu.edu 44 West Fourth Street Suite 9-190 New York, NY 10012-1126

Education

• Ph.D. Finance, The Wharton School, University of Pennsylvania, 1998
• M.A. Finance, The Wharton School, University of Pennsylvania, 1996
• M.B.A. Finance and Accounting, Tel Aviv University, 1993
• B.Sc. Computer Engineering, Technion - Israel Institute of Technology, 1989

Teaching:

• Foundations of Finance (core M.B.A. course).

Research Interests:

• Asset Pricing
• Portfolio Choice / Trading Strategies
• Risk Management
• Credit Risk

Publications: [Last Updated 3/2004]

• "The Investor Recognition Hypothesis in a Dynamic General Equilibrium: Theory and Evidence," 2002, Review of Financial Studies, 15(1), 97-141. [abstract & pdf] [pdf]
• "Value-at-Risk Based Risk Management: Optimal Policies and Asset Prices," 2001, Review of Financial Studies, 14(2), 371-405 (with S. Basak). [abstract & pdf] [pdf]
• "A Model of Credit Risk, Optimal Policies, and Asset Prices," Journal of Business, forthcoming (with S. Basak). [abstract & pdf] [pdf]

Selected Working Papers: [Click Here for Updates]

• "Risk Management with Benchmarking," December 2003 (with S. Basak and L. Tepla). [abstract & pdf] [pdf]
• "Offsetting the Incentives: Risk Shifting and Benefits of Benchmarking in Money Management," December 2003 (with S. Basak and A. Pavlova). [abstract & pdf] [pdf]

Department of Finance Seminars organized in 2001/2:

• Fall Wednesdays, Fridays
• Spring Wednesdays, Fridays

Other Professional Activities:

• Consulting (Fund of Hedge Funds)