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Professor of Finance

Matthew Spiegel's research ranges widely with publications in the areas of market microstructure, asset pricing, real estate, corporate finance, and experimental economics. His theoretical work has helped to explain stock market volatility, what factors lead to market breakdowns and how mergers within an industry impact the new firm’s competitors over time. His empirical work has included the development of statistical methods that can estimate the impact of local characteristics on housing returns and for identifying when and if a particular mutual fund will generate above market returns. He is currently the vice president for the Society for Financial Studies and the former executive editor for its journal the Review of Financial Studies. Professor Spiegel was formerly an associate professor, with tenure, at the Haas School of Business at the University of California-Berkeley. He is a former co-editor and founder of the Journal of Financial Markets, a former associate editor of the Review of Financial Studies, and a past member of the Nasdaq Economic Advisory Board.

Achievements and Honors
Vice President of the Society for Financial Studies, 2011 to 2014 
Michael Brennan Best Paper Award for articles published in the Review of Financial Studies in 2007 for the paper, "Portfolio Performance Manipulation and Manipulation-proof Performance Measures," coauthored with William Goetzmann, Jonathan Ingersoll Jr., and Ivo Welch, 2008
Keynote speaker Caesarea Center Conference on Private Equity, 2008
Inaugural Challenge Article in Finance Research Letters: "Patterns in Cross Market Liquidity," 2008
Keynote speaker New York City Triple Crown Conference, 2007 
Keynote speaker European meeting of the Financial Management Association, 2003 
Director, Western Finance Association, 2001
Weimer School Post-Doctoral Honoree, 2000
ANBAR Management Intelligence Citation of Excellence, 1998
Member, American Finance Association's Nominations Committee, 1998
Schwabacher Fellowship, 1995 - 1996 

Selected Articles
"Mutual Fund Risk and Market Share Adjusted Fund Flows" (with H Zhang),  Journal of Financial Economics, forthcoming

"Dynamic Competition, Valuation and Merger Activity" (with H. Tookes), Journal of Finance, forthcoming

"Reviewing Less – Progressing More," editorial in the Review of Financial Studies, Vol. 25, No. 5, 2012

"The Academic Analysis of the 2008 Financial Crisis: Round 1," Review of Financial Studies, Vol. 24, No. 6, 2011 (Editor’s special issue introduction: The 2008 Financial Crisis.)

"Patterns in Cross Market Liquidity," Finance Research Letters, Vol. 5, No. 1, 2008

"Forecasting the Equity Premium: Where We Stand Today," Review of Financial Studies, Vol. 21, No. 4, 2008 (Editor’s special isue introduction: Forecasting the Equity Premium.)

"Estimating the Dynamics of Mutual Fund Alphas and Betas" (with H. Mamaysky and H. Zhang), Review of Financial Studies, Vol. 21, No. 1, 2008

"Improved Forecasting of Mutual Fund Alphas and Betas" (with H. Mamaysky and H. Zhang), Review of Finance, Vol. 11, No. 3, 2007

"Portfolio Performance Manipulation and Manipulation-Proof Performance Measures" (with W. Goetzmann, J. Ingersoll Jr., and I. Welch), Review of Financial Studies, Vol. 20, No. 5, 2007

Education
PhD Princeton University, 1987
BA University of California at Berkeley, 1982