Emil N. Siriwardane is the Finnegan Family associate professor of business administration in the Finance Unit at Harvard Business School and a Faculty Research Fellow at the National Bureau of Economic Research. He teaches a second-year MBA elective on investment management and previously taught Finance2 in the MBA required curriculum. He earned his PhD in finance from the Stern School of Business at New York University and a BSE in operations research and financial engineering from Princeton University. Professor Siriwardane’s research studies the ways in which financial intermediaries influence capital markets, how perceptions of risk impact business cycles, and how public pensions make investment decisions. Outside Activities
Working Papers
Behavioral Impulse Responses (with Bryan Kelly, Semyon Malamud, and Hongyu Wu)
Fire Sales of Safe Assets (with Gabor Pinter and Danny Walker)
Revise and Resubmit, Journal of Financial Economics
Working Paper; Internet AppendixThe Rise of Alternatives (with Juliane Begenau and Pauline Liang)
2024 ICPM Research Award (link)
Working Paper; Internet AppendixThe Probability of Disasters: Estimation and Implications
Working Paper
Publications
Segmented Arbitrage (with Adi Sunderam and Jonathan Wallen)
Forthcoming, Journal of Finance
Working Paper; Internet Appendix; Arbitrage Spread DataFee Variation in Private Equity (with Juliane Begenau)
Journal of Finance, 79(2): 1199-1247, 2024Final Manuscript; Working Paper; Internet Appendix; SEC Private Funds Rule on Fee Disclosure
OTC Intermediaries (with Andrea L. Eisfeldt, Bernard Herskovic, and Sriram Rajan)
Review of Financial Studies, 36(2): 615-677, 2022
Final Manuscript; Working PaperFinancial Market Risk Perceptions and the Macroeconomy (with Carolin Pflueger and Adi Sunderam)
Quarterly Journal of Economics, 135(3): 1443-1491, 2020
Finalist 2018 AQR Insight Award
Final Manuscript; Working Paper; Internet Appendix; Replication Kit; Updated PVS Data (2022Q3)Limited Investment Capital and Credit Spreads
Journal of Finance, 74(5): 2303-2347, 2019
2016 WFA Best Paper in Asset Pricing
Final Manuscript; Working Paper; Internet AppendixStructural GARCH: The Volatility-Leverage Connection (with Robert F. Engle)
Review of Financial Studies, 31(2): 449-492, 2018
Finalist 2014 AQR Insight Award
Final Manuscript; Working Paper; Internet Appendix; CodeScenario Generation for Long Run Interest Rate Risk Assessment (with Robert F. Engle and Guillaume Roussellet)
Journal of Econometrics, 201(2): 333-347, 2017
Final Manuscript; Working Paper; Real-Time Interest Rate Forecasts
Other Work
An Empirical Guide to Investor-Level Private Equity Data from Preqin (with Juliane Begenau, Claudia Robles-Garcia, and Lulu Wang)
White Paper; Code