Faculty Directory
Ran Duchin
Professor
Coughlin Family Professor
Ran Duchin
Contact
Fulton Hall 360B
Email: duchinr@bc.edu
Education
- BA, Hebrew University
- MBA, Hebrew University, Jerusalem School of Business
- Ph.D, University of Southern California, Marshall School of Business
Research Interests
Corporate Finance; Corporate Governance; and Political Economy.
Expertise
- Corporate Finance
Google Scholar Page
Department
Biography
Ran Duchin is a professor in the Seidner Department of Finance at the Boston College Carroll School of Management. Before joining BC, he served on the faculty of the University of Washington's Foster School of Business and the University of Michigan's Ross School of Business, which he joined after completing his doctorate at the University of Southern California.
Duchin's primary research focus is on corporate finance, corporate governance, and political economy. His work studies a wide range of investment decisions, including internal capital allocation, acquisitions, and government bailouts. In his work, he investigates various mechanisms and frictions that shape investment policies (and, more broadly, corporate decision-making), ranging from political economy and financial regulation to agency conflicts and human behavior.
Duchin's work has been published in the top finance journals, including the Journal of Finance, Journal of Financial Economics, and Review of Financial Studies. Several of his papers received best paper awards from leading academic conferences and were selected by journal editors as lead articles. According to Google Scholar, his papers received more than 5,000 citations and were cited in top journals of other disciplines, including Accounting, Management, Strategy, and Business Law. His work has also attracted attention from many popular national publications, including The Wall Street Journal, The New York Times, and The Washington Post.
His research and teaching have been recognized by awards such as the Teva Award in the name of Dan Suesskind for research in corporate finance and financial markets (2010), Dean’s Award for Excellence in Faculty Research (2017), Faculty PhD Mentor Award (2014, 2017), Dean’s Award for Excellence in Undergraduate Teaching (2018), and Evening MBA Professor of the year (2020).
Publications
“Political Influence and the Renegotiation of Government Contracts.” (With Jon Brogaard and Matt Denes.) Review of Financial Studies, 34 (6), 3095-3137. June, 2021.
“The Origins and Real Effects of the Gender Gap: Evidence from CEOs’ Formative Years.” (With Mike Simutin and Denis Sosyura.) Review of Financial Studies, 34 (2), 700-762. February, 2021.
“The Timing and Consequences of Seasoned Equity Offerings: A Regression Discontinuity Approach.” (With Amy Dittmar and Shuran Zhang.) Journal of Financial Economics, 138 (1), 254-276. October, 2020.
“The Role of Government in Firm Outcomes.” (With Zhenyu Gao and Haibing Shu.) Review of Financial Studies, 33 (12), 5555-5593. December, 2020.
“Spillovers inside Conglomerates: Incentives and Capital.” (With Amir Goldberg and Denis Sosyura.) Review of Financial Studies, 30 (5), 1696-1743. May, 2017.
“Precautionary Savings with Risky Assets: When Cash Is Not Cash.” (With Thomas Gilbert, Jarrad Harford, and Chris Hrdlicka.) Journal of Finance, 72 (2), 793-852. April, 2017.
“Clouded Judgment: The Role of Sentiment in Credit Origination.” (With Kristle Cortés and Denis Sosyura.) Journal of Financial Economics, 121 (2), 392-413. August, 2016.
“Looking in the Rear View Mirror: The Effect of Managers’ Professional Experience on Corporate Financial Policy.” (With Amy Dittmar.) Review of Financial Studies, 29 (3), 565-602. May, 2016.
“Peer Effects in Risk Aversion and Trust.” (With Kenneth Ahern and Tyler Shumway.) Review of Financial Studies, 27 (11), 3213-3240. November, 2014.
“Safer Ratios, Riskier Portfolios: Banks’ Response to Government Aid.” (With Denis Sosyura.) Journal of Financial Economics, 113, 1-28. July, 2014.
“Cash Flow Hedging and Liquidity Choices.” (With David Disatnik and Breno Schmidt.) Review of Finance, 18 (2), 715-748. December, 2012.
“Riding the Merger Wave: Uncertainty, Reduced Monitoring, and Bad Acquisitions.” (With Breno Schmidt.) Journal of Financial Economics, 107 (1), 69-88. January, 2013.
“Divisional Managers and Internal Capital Markets.” (With Denis Sosyura.) Journal of Finance, 68 (2), 387-429. April, 2013.
"The Politics of Government Investment." (With Denis Sosyura.) Journal of Financial Economics, 106 (1), 24-48. October, 2012.
"Cash Holdings and Corporate Diversification." Journal of Finance, 65 (3), 955-992. June, 2010.
“When Are Outside Directors Effective?” (With John G. Matsusaka and Oguzhan Ozbas.) Journal of Financial Economics, 96 (2), 195-214. May, 2010.
- “Costly External Finance, Corporate Investment, and the Subprime Mortgage Credit Crisis.” (With Oguzhan Ozbas and Berk Sensoy.) Journal of Financial Economics, 97 (3), 418-435. September, 2010.
- “Disagreement, Portfolio Optimization and Excess Volatility.” (With Moshe Levy.), Journal of Financial and Quantitative Analysis, 45 (3), 623-640. June, 2010.
Appointments, Awards, and Honors
- Best Paper Award at the 2020 Finance Down Under Conference (For: “The Origins and Real Effects of the Gender Gap: Evidence from CEOs’ Formative Years”)
- Emerald Best Paper Award for “Involuntary Political Connections and Firm Outcomes”, 2017
- Dean’s Award for Excellence in Faculty Research, 2017
- Faculty PhD Mentor Award, 2014, 2017
- RFS Distinguished Referee Award, 2016
- Sanford R. Robertson Assistant Professor of Business Administration, University of Michigan, 2011-2012
- Collaborative Research Grant, Ross School of Business, University of Michigan, 2011
- Large Research Grant, Ross School of Business, University of Michigan,2011
- Edward Lowe Foundation Research Grant, 2011
- NTT Research Award (buyout ½ teaching load), University of Michigan, 2010
- Teva Award in the name of Dan Suesskind for research in corporate finance and financial markets (35,000 Israeli Shekel), 2010
- Best Paper Award in Corporate Finance at the 2010 Asian Finance Association Conference in Hong Kong (For: "The Politics of Government Investment")
- Best Paper Award at 2010 La Trobe Finance and Corporate Governance Conference in Melbourne (For: "The Politics of Government Investment")
- Research Grant from Yale’s Millstein Center for Corporate Governance and Performance ($6,000), 2010
- Dean’s Graduate Fellowship Award, Marshall School of Business, 2003 – 2007
- First Year Merit Award, Finance Department, Marshall School of Business, 2004
- Dean's Award, Jerusalem School of Business, 2003