Laurent Frésard
Professor of Finance at Universita della Svizzera italiana (USI)/ SFI Senior Chair
Schools
- HEC Paris
Links
Biography
Laurent Frésard is Professor of Finance at the Università della Svizzera italiana. Previously, Professor Frésard was a member of the faculties at HEC Paris and the University of Maryland. His papers have been published in leading academic journals and he has received a number of grants and awards.
Expertise
Professor Frésard is currently studying how the emergence of big data and advanced analytics affects the functioning of financial markets and firms' decisions. In recent work, he shows that the abundance of alternative data in the financial sector (e.g., social media or satellite images) can lower the informativeness of financial forecasting, especially the quality of long-term forecasts. These results indicate that data abundance in finance may create important distortions, and hence that the associated costs and benefits should be studied carefully— insights that should be of interest to financial institutions and investors. Professor Frésard actively participates in SFI Knowledge Exchange activities that focus on data and technology in finance.
Expertise Fields
Financial Markets
- Financial Forecasting
- Information and Market Efficiency
- International Financial Markets and Emerging Markets
Financial Institutions
- Institutional Investors and Funds
- Pension Funds
Corporate Finance and Governance
- Bankruptcy and Liquidation
- Capital Budgeting and Investment Policy
- Corporate Governance and Managerial Compensation
- Financial Risk and Risk Management
- Financial Valuation
- Financing Policy and Capital Structure
- Mergers and Acquisitions
Frontier Topics
- Big Data and Fintech
- Sustainable Finance
Education
- PhD Université de Neuchâtel (2004 — 2009)
- MA HEC Lausanne - The Faculty of Business and Economics of the University of Lausanne (2003 — 2004)
- BA Université de Neuchâtel (1999 — 2003)
Publications
Rapidly Evolving Technologies and Startup Exits (with D. Bowen and G. Hoberg)
Management Science (forthcoming)Industry Asset Revaluations around Public and Private Acquisitions (with F. Derrien, V.Slabik, and P. Valta)
Journal of Financial Economics (forthcoming)Does Firm Investment Respond to Peers' Investment? (with C. Bustamante)
Management Science (forthcoming)Innovation Activities and Integration through Vertical Acquisitions (with G. Hoberg and G. Phillips)
Review of Financial Studies (forthcoming)
Oliver Williamson Award for best paper at the 2015 ISNIE Conference
(Internet Appendix)
Fresard-Hoberg-Phillips vertical Relatedness Data LibraryNoisy Stock Prices and Corporate Investment (with O. Dessaint, T. Foucault, and A. Matray)
Review of Financial Studies (2019) 32, 2625-2672
VOXEU columnCorporate Strategy, Conformism, and the Stock Market (with T. Foucault)
Review of Financial Studies (2019) 32, 905-950
(Internet Appendix)
VOXEU columnExtending Industry Specialization through Cross-Border Acquisitions (with U. Hege and G. Phillips)
Review of Financial Studies (2017) 30, 1539-1582What's your Identification Strategy? Innovation in Corporate Finance Research (with D. Bowen and J. Taillard)
Management Science (2017) 63, 2529-2548
GitHub repoHow does Corporate Investment Respond to Increased Entry Threats? (with P. Valta)
Review of Corporate Finance Studies, (2016) 5, 1-35 (Editor's Choice)
Tariff data for manufacturing industries (SIC4) - 1974-2005 (zipped file)Learning from Peers' Stock Prices and Corporate Investment (with T. Foucault)
Journal of Financial Economics, (2014) 111, 554-577Regulating Conflicts of Interest: The effects of Sanctions and Enforcement (with M. Dubois and P. Dumontier)
Review of Finance (2014) 18, 489-526
EFA/RoF DigestCross-Listing, Investment Sensitivity to Stock Price and the Learning Hypothesis (with T. Foucault)
Review of Financial Studies (2012) 25, 3305-3350The Pernicious Effect of Contaminated Data in Risk Management (with C. Perignon and A. Wilhilmsson)
Journal of Banking and Finance (2011) 35, 2569-2584Cash Savings and Stock Price Informativeness
Review of Finance (2012) 16, 985-1012The Value of Excess Cash and Corporate Governance: Evidence from U.S. Cross-Listings (with C. Salva)
Journal of Financial Economics (2010) 98, 359-384Financial Strength and Product Market Behavior: The Real Effects of Corporate Cash Holdings
Journal of Finance (2010) 65, 1097-1122
Working Papers
Does Alternative Data Improves Financial Forecasting? The Horizon Effect (with O. Dessaint and T. Foucault)
Knowledge Cycles and Corporate Investment (with C. Bustamante and J. Cujean)
Finance, Talent Allocation, and Growth (with F. D'Acunto)
Internation Banker's article
Videos
Finance in the digital age - Prof. Laurent Frésard
Read about executive education
Other experts
Popular Courses
Private Equity: Investing and Creating Value
The Wharton School
Philadelphia, Pennsylvania, United States
Feb 2, 2025
The Positive Leader: Deep Change and Organizational Transformation
Stephen M. Ross School of Business
Ann Arbor, Michigan, United States
Sep 29
Leading People and Teams
ESMT
Berlin, Germany
Nov 19
Looking for an expert?
Contact us and we'll find the best option for you.