José María Liberti is an Associate Professor of Finance at Tilburg University and Assistant Professor of Finance at the Kellstadt Graduate School of Business, DePaul University. He is also a research fellow of the European Banking Center (EBC). Jose María was previously appointed Assistant Professor of Finance at London Business School, and Visiting Assistant Professor at Kellogg School of Management, Northwestern University. He has also taught at IAE Aix-en-Provence Graduate School of Management and The University of Chicago Booth School of Business. He has also served as an economic consultant at the Argentinean Ministry of Economics, Work and Public Services. Before continuing with his graduate studies, José María worked at Citibank N.A. as a Corporate Financial Advisor and in the Risk Management and Corporate Strategy Divisions. José María's research lies in the boundaries of corporate finance, financial intermediation and organizational economics. Part of his attention has been drawn to understand how incentives, allocation of authority and types of information are used in the actual decision-making process of individuals. Recent work has examined the role rotation among agents as a mechanism to alleviate moral hazard in communication and how sharing on public information may impact coordination problems among borrowers. His work has been published at The Journal of Finance and The Review of Financial Studies. Liberti was born in Buenos Aires, Argentina. He received a bachelor's and master's degree in economics from the Universidad de San Andrés (UdeSA), in Buenos Aires. He moved to the United States in 1998 and earned both a Masters and a PhD in Economics from The University of Chicago. An award-winning teacher at Kellogg School of Management and DePaul University he teaches advance elective courses on Problems In Corporate Financial Policy, Mergers & Acquisitions, LBOs and Corporate Restructuring.
Articles
Public Information and Coordination: Evidence from a Credit Registry Expansion (with Andrew Hertzberg and Daniel Paravisini), The Journal of Finance (2011)
This paper provides evidence that lenders to a firm close to distress have incentives to...
Information and Incentives Inside the Firm: Evidence from Loan Officer Rotation (with Andrew Hertzberg and Daniel Paravisini), The Journal of Finance (2010)
We present evidence that reassigning tasks among agents can alleviate moral hazard in communication. A...
Collateral Spread and Financial Development (with Atif R. Mian), The Journal of Finance (2010)
We show that institutions that promote financial development ease borrowing constraints by lowering the collateral...
Estimating the Effect of Hierarchies on Information Use (with Atif R. Mian), Review of Financial Studies (2009)
Theory suggests that greater hierarchical distance between a subordinate and his boss makes it more...
Working Papers
The Added Value of Discretion (with Hans Deryse, Thomas Mosk, and Steven Ongena), Working Paper (2011)
How do banks make lending decisions? Using a unique hand-collected data-set on loans granted to...
Uncovering Collateral Constraints, Working Paper (2011)
Collateral may be used as commitment against ex-ante agency risk, or for hedging against ex-post...
Initiative, Incentives and Soft Information. How does Delegation Impact the Role of Bank Relationship Managers?, IFA Working Paper No.404 (2005)
This paper empirically examines how changes in the hierarchical structure of a large organization can...
Teaching: Problems in Coporate Financial Policy
Course Outline: Problems In Corporate Financial Policy, Graduate Elective Course (2010)
This is a tentative summary of the course outline with cases.
Course Syllabus: Problems In Corporate Financial Policy, Graduate Elective Course (2010)
The main aim of this course is to enable you to apply the theoretical concepts...
Teaching: Special Topics in Corporate Finance
Course Outline: Special Topics In Corporate Finance, Graduate Elective Course (2010)
This is a tentative summary of the course outline with cases.
Course Syllabus: Special Topics In Corporate Finance, Graduate Elective Course (2010)
The course focuses on fundamental themes in corporate finance in an international setting including: the...
Teaching: Mergers & Acquisitions, LBOs and Corporate Restructuring
Course Outline: Mergers & Acquisitions, LBOs and Corporate Restructuring, Graduate Elective Course (2010)
This is a tentative summary of the course outline with cases.
Course Syllabus: Mergers & Acquisitions, LBOs and Corporate Restructuring, Graduate Elective Course (2010)
The course involves analysis of corporate restructuring strategies including mergers, acquisitions, friendly vs. hostile takeovers,...