Matthew Clayton

Assistant Professor of Commerce

Office phone: 434-243-4043
e-mail: mjc6b@virginia.edu

Education:

Ph.D., Finance, Northwestern University
M.S., Finance, Northwestern University
B.S., Math and Economics, Carleton College

Areas of Expertise:

Professor Clayton’s research focuses on the interaction between corporate finance decisions and industrial organization. His published papers include an examination of how leverage affects bidding behavior and how corporate equity holdings affect competition and industry structure.

Professional Activities:

Before joining the McIntire faculty, Professor Clayton held faculty positions at New York University, where he was a member of “Club 6” for teaching excellence, and Rutgers Business School, where he received the junior faculty research award. He was also a visiting faculty member at the University of Southern California and The University of Texas at Austin. His research has been presented at numerous universities and professional meetings and published in leading academic journals, including The Review of Financial Studies; The Journal of Business; and Journal of Financial Markets.

Selected Publications:

"On the Presence and Market-Structure of Exchanges around the World," Journal of Financial Markets, 2006 (with B. N. Jorgensen and K. A. Kavajecz).

“The Impact of CEO Turnover on Equity Volatility,” The Journal of Business, September 2005 (with J. C. Hartzell and J. Rosenberg).

"Optimal Cross Holding with Externalities and Strategic Interactions,” The Journal of Business, July 2005 (with B. Jorgensen).

“Wealth Gains from Tracking Stock: Long-run Performance and Ex-Day Return,” Financial Management, 2004 (with Y. Qian).

“The Effect of Leverage on Bidding Behavior: Theory and Evidence from the FCC Auction,” Review of Financial Studies, 2002 (with S. A. Ravid).