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Marcus M.
Opp Ph.D. |
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Home | Curriculum Vitae | Research | Teaching | Finance Theory Group
My research focuses on contract theory, financial intermediation, and sustainable finance. It has been recognized with the 2016 Jensen prize for the best paper published in the Journal of Financial Economics in the area of corporate finance, the EFA 2020 best paper prize in responsible finance, the Bessel Award of the Alexander von Humboldt Foundation, and several competitive project grants. Since 2023, I have served as an editor of the Review of Finance. In recognition of my teaching, I was included in the 2017 Poets and Quants' “Top 40 under 40”, the Berkeley Haas Club 6 Club and the Stockholm School of Economics Distinguished Educators Club. Research overview: Research statement and Google Scholar Profile 1) Sustainable finance and regulation: (12), (13), (14). 2) Financial regulation, financial intermediaries (banks, rating agencies): (4), (9), (10), (11). 3) Contract theory and dynamic games: (3), (5), (6), (8), (15). 4) International/ macro: trade theory, DSGE models: (1), (2), (5).
Published and forthcoming papers:
(14) “Green Capital Requirements,” 2025, joint with Martin Oehmke, Journal of Finance, forthcoming. NBER CF Fall 2022 presentation as video.
(13) “Sustainable Finance versus Environmental Policy: Does Greenwashing justify a Taxonomy for Sustainable Investments?,” 2025, joint with Roman Inderst, Journal of Financial Economics, 163, 103954. Lead Article.
(12) “A Theory of Socially Responsible Investment,” 2025, joint with Martin Oehmke, Review of Economic Studies, 92, 1193–1225. Non-technical insights in FTG Insights. Winner of EFA 2020 best paper prize in responsible finance.
(11) “Intermediary Capital and the Credit Market” 2025, joint with Milton Harris and Christian Opp, Management Science, 71, 162-183.
(10) “The Economics of Deferral and Clawback Requirements,” 2022, joint with Florian Hoffmann and Roman Inderst, Journal of Finance, 77, 2423-2470. Non-technical insights in Harvard Law School Forum on Corporate Governance.
(9) “Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Removing Capital Requirements for an Asset Class,” 2021, joint with Bo Becker and Farzad Saidi, Review of Financial Studies, 35, 5438–5482. Online Appendix.
(8) “Only Time will Tell: a Theory of Deferred Compensation,” 2021, joint with Florian Hoffmann and Roman Inderst, Review of Economic Studies, 88, 1253-1278. Online Appendix. Main insight: This paper characterizes optimal compensation contracts in principal-agent settings in which the consequences of the agent's action are only observed over time.
(7) “Target Revaluation after Failed Takeover Attempts - Cash versus Stock,” 2016, joint with Ulrike Malmendier & Farzad Saidi, Journal of Financial Economics, 119, 92-106. Winner of 2016 Jensen Prize for the best Corporate Finance paper published in the Journal of Financial Economics. Online Appendix.
(6) “Impatience versus Incentives,” 2015, joint with John Zhu, Econometrica, 83, 1601-1617. Presentation Slides from Econometric Society Meeting, Boston 2015.
(5) “Markup Cycles, Dynamic Misallocation, and Amplification,” 2014, joint with Christine Parlour & Johan Walden, Journal of Economic Theory, 154, 126-161.
(4) “Rating Agencies in the Face of Regulation,” 2013, joint with Christian C. Opp & Milton Harris, Journal of Financial Economics, 108, 46-61. Winner of the 2016 Emerald Citation Award.
(3) “Expropriation Risk and Technology,” 2012, Journal of Financial Economics, 103, 113-129. Winner of the 2008 John Leusner Award for the best dissertation at the University of Chicago in the field of Finance. (2) “Tariff Wars in a Ricardian Model with a Continuum of Goods,” 2010, Journal of International Economics, 80, 212-225.
(15) “Moral Hazard and the Quest for Linear Contracts,” 2025.
References:
WEB DESIGN by Natalia Kovrijnykh: November 6, 2025 |
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