Disruption in The Financial Sector

Andrew Karolyi is the Charles Field Knight Dean of the Cornell SC Johnson College of Business. He is a Professor of Finance and International Business as well as holder of the Harold Bierman Jr. Distinguished Professorship in the Johnson Graduate School of Management. Dr. Karolyi is also a Professor of Economics in Cornell’s College of Arts and Sciences.

A scholar in the area of investment management, with a specialization in the study of international financial markets, Dr. Karolyi has published extensively in journals in finance and economics, including the Journal of Finance, Journal of Financial Economics, and Review of Financial Studies. He has also published several books and monographs, and his research is featured in print and electronic media such as the Wall Street Journal, Financial Times, The Economist, Time, New York Times, Washington Post, Forbes, BusinessWeek, and CNBC. Dr. Karolyi recently completed a four-year term as executive editor of the Review of Financial Studies, one of the top-tier journals in finance. He has also served as an associate editor for a variety of journals, including the Journal of Finance, Journal of Financial Economics, Journal of Empirical Finance, Journal of Banking and Finance, Review of Finance, and the Pacific Basin Finance Journal.

Dr. Karolyi is a recipient of the Michael Jensen Prize for Corporate Finance and Organizations (2017), the Fama/DFA Prize for Capital Markets and Asset Pricing (2005), the William F. Sharpe Award for Scholarship in Finance (2001), the Journal of Empirical Finance’s Biennial Best Paper Prize (2006), and Johnson School’s Prize for Excellence in Research (2010). Dr. Karolyi leads various executive education programs in the U.S., Canada, Europe, and Asia, and he is actively involved in consulting with corporations, banks, investment firms, stock exchanges, and law firms. He is president-elect/program chair of the Western Finance Association, has served as a director of the American Finance Association, and is past chairperson of the board of trustees and past president of the Financial Management Association International. Dr. Karolyi received his B.A. (Honors) in Economics from McGill University and worked at the Bank of Canada for several years in its research department. He subsequently earned his MBA and Ph.D. degrees in Finance at the Graduate School of Business of the University of Chicago.

Maureen O’Hara is the Robert W. Purcell Professor of Finance at the Johnson Graduate School of Management, Cornell SC Johnson College of Business; she also holds a professorship at the University of Technology Sydney. Professor O’Hara’s research focuses on issues in market microstructure, recently examining how ETFs affect market stability, liquidity issues in corporate bond markets, and transaction costs in bitcoin. She publishes widely on a broad range of topics, including banking and financial intermediaries, law and finance, experimental economics, and finance and ethics (her book “Something for Nothing: Arbitrage and Ethics on Wall Street” was published by Norton in 2016). Professor O’Hara is the author of numerous journal articles as well as the text “Market Microstructure Theory” (Blackwell: 1995).

Robert C. Hockett, Edward Cornell Professor of Law, Cornell Law School, joined the Cornell Law Faculty in 2004. His principal teaching, research, and writing interests lie in the fields of organizational, financial, and monetary law and economics, in both positive and normative dimensions. His guiding concern in these fields is with the legal and institutional prerequisites to a just, prosperous, and sustainable economic order. He is a Fellow of the Century Foundation and does regular work for the New America Foundation, Federal Reserve Bank of New York, the International Monetary Fund, Americans for Financial Reform, the ‘Occupy’ Cooperative, and a number of federal and state legislators and local governments. Prior to doing his doctoral work and entering academe, he worked for the International Monetary Fund and clerked for the Honorable Deanell Reece Tacha, Chief Judge of the U.S. Court of Appeals for the Tenth Circuit.

Sanjeev Bhojraj is the Alumni Professor in Asset Management at the Johnson Graduate School of Management in the Cornell SC Johnson College of Business, and is the faculty advisor at the Parker Center for Investment Research. Dr. Bhojraj has been on the faculty of the Johnson Graduate School of Management since 1999 and served as the faculty director of the Parker Center and sole designated manager of the Cayuga Fund from 2005-2014. His research interests are in the areas of behavioral finance, corporate governance, discretionary disclosure of information by firms, and international accounting and valuation. He has taught courses in applied portfolio management, financial analysis, and financial accounting. In addition to his many teaching awards, Professor Bhojraj is certified as a chartered accountant and a cost accountant