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Faculty Directory

Office: 436
PACCAR Hall
Phone: 206-543-4578
Fax: 206-543-7472

Foster School of Business
University of Washington
Box: 353226
Seattle, WA 98195-3226

Mark Westerfield

Associate Professor of Finance and Business Economics

Education

PhD Massachusetts Institute of Technology (2004)
BA University of Chicago (1999)

Academic Expertise

asset pricing
behavioral finance
corporate finance

Positions Held

At the University of Washington since 2012
Assistant Professor of Finance and Business Economics, Marshall School of Business at the University of Southern California, 2004-2012

Selected Publications

  1. Market Selection
    Journal Article: Kogan, L., Ross, S., Wang, J. & Westerfield, M., (2017). Journal of Economic Theory, Vol. 168, pp. 209-236.
  2. Looking for Someone to Blame: Delegation, Cognitive Dissonance, and the Disposition Effect
    Journal Article: Chang, T., Solomon, D., & Westerfield, W., (2016). Journal of Finance, Vol. 71(1), pp. 267-302.
  3. Optimal Dynamic Contracts with Moral Hazard and Costly Monitoring
    Journal Article: Piskorski, T. & Westerfield, M., (2016). Journal of Economic Theory, Vol. 166, pp. 242-281.
  4. Resource Accumulation Through Economic Ties: Evidence from Venture Capital
    Journal Article: Hochberg, Y., Lindsey, L., & Westerfield, M., (2015). Journal of Financial Economics, Vol. 118(2), pp. 245-267.
  5. Portfolio Choice with Illiquid Assets
    Journal Article: Ang, A., Papanikolaou, D., & Westerfield, M., (2014). Management Science, Vol. 60(11), pp. 2737-2761.
  6. Disagreement and Learning in a Dynamic Contracting Model
    Journal Article: Adrian, T. & Westerfield, M., (2009). The Review of Financial Studies, Vol. 22(10), pp. 3873-3906.
  7. High-Water Marks: High Risk Appetites? Convex Compensation, Long Horizons, and Portfolio Choice
    Journal Article: Panageas, S., & Westerfield, M., (2009). Journal of Finance, Vol. 64(1), pp. 1-36.
  8. The Price Impact and Survival of Irrational Traders
    Journal Article: Kogan, L., Ross, S., Wang, J., & Westerfield, M., (2006). Journal of Finance, Vol. 61(1), pp. 195-229.

Working Papers

“Dynamic Agency with Capital Budgeting and Volatility Controls”, with Felix Zhiyu Feng.

Honors and Awards

William A. and Helene I. Fowler Award, 2015
Core Professor of the Year from the Evening MBA Program, 2014
Distinguished Referee Award from The Review of Financial Studies, 2014
Netspar Research Grant RG12.04, 2012
Roger F. Murray Prize, Second Place, Q-group, 2011
CRA International Prize, Best Corporate Finance Paper, Western Finance Association, 2007
Smith-Breeden Prize, First Place, American Finance Association and the Journal of Finance, 2006
FAME Research Prize, Swiss Finance Institute, 2004