Professor Alan Morrison

My research interests lie mostly in the application of ideas from information economics to finance theory and to the economics of organisations. In a series of papers with Lucy White of Harvard Business School I have examined the interplay between moral hazard, adverse selection and optimal capital regulation for banks; work with Gyöngyi Lóránth of the University of Cambridge examines risk-shifting effects in the presence of deposit insurance and relates this effect to multinational bank and conglomerate regulation; I have also worked on the incentive effects of credit derivatives, on bank bailout policy, on financial panics and on bookbuildings in initial public offerings. Bill Wilhelm of the University of Virginia and I have work explaining the prevalence of partnership firms in human-capital intensive businesses and their demise in the investment banking industry.

At the undergraduate level I teach finance and microeconomics to second and third years, and some general managerial social science to freshers. At the graduate level I have taught an MBA elective on derivatives and for the last few years have delivered the core MBA finance course.