Michael M. Koerner (1949) Professor of Entrepreneurship
Professor of Finance
Biography | Selected Publications
"Trading Partners in the Interbank Lending Market." Gara Afonso, Anna Kovner, Antoinette Schoar. MIT Sloan Working Paper 5117-14 (2014)
"Can Unemployment Insurance Spur Entrepreneurial Activity? Evidence From France," Johan Hombert, Antoinette Schoar, David Sraer, David Thesmar, October 2014.
"Interbank Liquidity Crunch and the Firm Credit Crunch: Evidence from the 2007-2009 Crisis," Rajkamal Iyer, José-Luis Peydró, Samuel da-Rocha-Lopes, and Antoinette Schoar. Review of Financial Studies 2014, Vol 27, 1, 347-72.
"The Consequences of Entrepreneurial Finance: Evidence from Angel Financings," joint with William R. Kerr, Josh Lerner, Review of Financial Studies, 27 (1): 20-55 (2014)
"Credit Supply and House Prices: Evidence from Mortgage Market Segmentation," Schoar, Antoinette, joint with Manuel Adelino and Felipe Severino, NBER Working Paper, February 2012.
"Shaped by Booms and Busts: How the Economy Impacts CEO Careers and Management Style," Schoar, Antoinette. NBER Working Paper, November 6, 2011.
Are the Seeds of Bad Governance Sown in Good Times? Antoinette Schoar and Ebonya Washington. (2011)
"Fighting Procrastination in the Workplace: An Experiment," Antoinette Schoar, joint with Ximena Cadena, Alexandra Cristea, Héber M. Delgado-Medrano, Working paper, March, 2011
"Remembering to Pay? Reminders vs. Financial Incentives for Loan Payments," Schoar, Antoinette, joint with Ximena Cadena, Working paper, March 2011.
"Stressed not Frozen: The Federal Funds Market after the Financial Crisis," Gara Afonso, Anna Kovner, and Antoinette Schoar. September 2009, The Journal of Finance, (2010)
"What Capital is Missing in Developing Countries?," joint with Miriam Bruhn, Dean Karlan, American Economic Review. May 2010, Vol. 100, No. 2: Pages 629-633.
Global Differences in Entrepreneurship (2010)
"The Divide between Subsistence and Transformational Entrepreneurship," Schoar, Antoinette, in Joshua Lerner and Scott Stern (Eds.), NBER Innovation Policy and the Economy 2009.
"Mixing Family With Business: A Study of Thai Business Groups and the Families Behind Them," Marianne Bertrand, Simon Johnson, Krislert Samphantharak, Antoinette Schoar. The Journal of Financial Economics, June 2008, 88 (3), 466-498.
"Secrets of the Academy: Drivers of University Endowment Success,” joint Josh Lerner and Jialan Wang, Journal of Economic Perspectives, Summer 2008, 22 (3), 207–22.
"Smart Institutions, Foolish Choices? The Limited Partner Performance Puzzle," joint with Josh Lerner and Wan Wongsunwai, The Journal of Finance, April 2007, 62 (2), 731-764.
"Judge Specific Differences in Chapter 11 and Firm Outcomes," joint with Tom Chang, February 2007.
Banking Deregulation and Industry Structure: Evidence from the 1985 French Banking Act, joint with Marianne Bertrand and David Thesmar, April 2007, The Journal of Finance.
Secrets of the Academy: The Drivers of University Endowment Success (2007)
"The Role of Family in Family Firms," joint with Marianne Bertrand, Journal of Economic Perspectives, April 2006, 20 (2), 73-96.
"Does Legal Enforcement Affect Financial Transactions? The Contractual Channel in Private Equity," joint with Josh Lerner, The Quarterly Journal of Economics, February 2005, (120), 223-246. Reprinted in Stijn Claessens and Luc Laeven, editors, Readings in International Corporate Finance, Washington: World Bank, 2006, 83-106. NASDAQ Award, Best Paper in Capital Formation, WFA 2003.
"Private Equity Performance: Returns, Persistence and Capital Flows," joint with Steven N. Kaplan, The Journal of Finance, August 2005, 60 (4), 1791-1823. (Michael J. Borrelli, CFA Research Award 2003).
"Politically Connected CEOs and Economics Outcomes: Ecidence from France," Schoar, Antoinette, with Marianne Bertrand, Francis Kramarz and David Thesmar. April 2005, Revise and Resubmit at The Journal of Finance.
Credit and Product Market Effects of Banking Deregulation: Evidence from the French Experience, joint with Marianne Bertrand and David Thesmar, DICE Report- Journal for Institutional Comparisons, October 2005.
"The Illiquidity Puzzle: Evidence from Private Equity Partnerships," joint with Josh Lerner, The Journal of Financial Economics, May 2004, Vol. 72 (2), 3-40 (lead article).
"Managing with Style: The Effect of of Managers on Corporate Policy," joint with Marianne Bertrand, The Quarterly Journal of Economics, November 2003, Vol. 118 (4), 1169-1208 (lead article)
"The Effect of Diversification on Firm Productivity," Schoar, Antoinette. The Journal of Finance, December 2002, Vol. 62 (6), 2379-2403 (lead article). (The Journal of Finance Brattle Prize (First Prize) for Distinguished Paper 2003).
Angel investing; Angel investing; Corporate finance; Corporate governance; Credit card industry; Developing countries; Economic development; Entrepreneurial finance; Entrepreneurship; Global entrepreneurship; International entrepreneurship; Job creation; Lead users; Subprime lending; Venture capital; Venture capital