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ACADEMIC AND PROFESSIONAL ENGAGEMENT ACTIVITIES

Marcus Braga-Alves is a Professor of Finance at Â鶹´«Ã½. He earned his MBA from Â鶹´«Ã½ and his Ph.D. in Finance from the University of Pittsburgh. His research analyzes problems that confront market participants and the academic community in the areas of investment management, corporate finance, and international finance. He is especially interested in the study of the development of capital markets in emerging countries. His work has been published in Contemporary Accounting Research, Journal of Financial Intermediation, Journal of Financial Markets, Journal of Corporate Finance, and Journal of International Money and Finance, among other journals. He has served as an ad hoc reviewer for several academic journals. He has also served on the program committees of the annual meetings of the Financial Management Association and the Eastern Finance Association.

Before moving to the U.S., Marcus worked as a consultant in the spot and derivatives markets for agricultural commodities in Brazil. His prime responsibility during that time was to promote the use of commodity derivatives for price risk management by local farmers, who faced new challenges resulting from increasing deregulation and globalization.

SELECTED CONTRIBUTIONS & PUBLICATIONS

Boulton, T.J., Braga Alves, M.V., Chakrabarty, B. (2022). The effect of reporting opacity on trading opacity: New evidence from ADR trades in dark pools. Contemporary Accounting Research.

Braga Alves, M.V., Ismailescu, I., Sen, K. (2022). Powerful CEOs and their legacy: Evidence from credit risk around CEO turnovers. Quarterly Review Of Economics And Finance. 84345-358.

Baker, E., Braga Alves, M.V., Morey, M.R. (2022). Predicting exchange rate changes using country ESG ratings. Journal of Investment Consulting.

Baker, E.D., Boulton, T.J., Braga Alves, M.V., Morey, M.R. (2021). ESG Government Risk and International IPO Underpricing. Journal of Corporate Finance.

Boulton, T.J., Braga Alves, M.V. (2020). Short selling and dark pool volume. Managerial Finance.

Braga Alves, M.V., Boulton, T.J. (2020). Price stabilization, short selling, and IPO secondary market liquidity. Quarterly Review Of Economics And Finance. 76(May), 278-291.

Braga Alves, M.V. (2018). Political risk and the equity trading costs of cross-listed firms. Quarterly Review Of Economics And Finance. 69(August), 232-244.

Autore, D.M., Boulton, T.J., Braga Alves, M.V. (2015). Failures to deliver, short sale constraints, and stock overvaluation. Financial Review. 50(2), 143-172.

Boulton, T.J., Braga Alves, M.V., Kulchania, M. (2014). The flash crash: An examination of shareholder wealth and market quality. Journal of Financial Intermediation. 23(1), 140-156.

Boulton, T.J., Braga Alves, M.V., Schlingemann, F.P. (2014). Does equity-based compensation make CEOs more acquisitive?. Journal of Financial Research. 37(3), 267-294.

Arena, M., Braga Alves, M.V. (2013). The discretionary effect of CEOs and board chairs on corporate governance structures. Journal of Empirical Finance. 21121-131.

Braga Alves, M.V., Morey, M. (2012). Predicting corporate governance in emerging markets. Journal of International Money and Finance. 1414-1439.

Boulton, T.J., Braga Alves, M.V., Shastri, K. (2012). Payout policy in Brazil: Dividends versus interest on equity. Journal of Corporate Finance. 18(4), 968-979.

Boulton, T.J., Braga Alves, M.V. (2012). Naked short selling and market returns. Journal Of Portfolio Management. 38(3), 133-142.

Braga Alves, M.V., Shastri, K. (2011). Corporate governance, valuation, and performance: Evidence from a voluntary market reform in Brazil. Financial Management. 40(1), 139-157.

Boulton, T.J., Braga Alves, M.V. (2010). The skinny on the 2008 naked short-sale restrictions. Journal of Financial Markets. 13(4), 397-421.

Braga Alves, M.V., Morey, M. (2004). Intraday arbitrage in emerging market American Depositary Receipts. Finance Letters. 218-24.