CHRISTIAN C. OPP
Gleason Professor of Finance
University of Rochester Simon Business School
Research Associate, NBER
3-110N Carol Simon Hall
Rochester, NY 14627
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UPDATES
Updated paper: "How (Not) to Identify Demand Elasticities in Dynamic Asset Markets" [SSRN]
- Best Paper Award at the FRA Conference
- Best Paper Award at the ASU Sonoran Winter Finance ConferenceUpdated paper: "Market Power in the Securities Lending Market" [SSRN]
- Best Paper Award at the Annual Conference in Financial Economics at IDC-Herzliya
- Best Paper Award in Corporate Finance and Financial Intermediation at the NFA Meeting"Environmental Disclosures in Global Supply Chains" [SSRN]
EDITORIAL POSITIONS
Associate Editor, Journal of Finance, 2024–Present
Associate Editor, Journal of Empirical Finance, 2016–Present
RESEARCH TOPICS
I study how financial institutions and markets affect prices and allocative efficiency.
Real anomalies: the aggregate real effects of financial market anomalies, or alphas.
Securities lending markets: the markets that facilitate short selling.
Price wedges: measuring the buildup and resolution of firm-level mispricing. See pricewedge.com for data.
Venture capital: how venture capital investments affect economic growth and welfare.
How intermediation chains, disclosure, and security design affect the efficiency of over-the-counter markets.
How incentives for information production shape the relative efficiency of OTC and centralized markets.
How regulation affects credit rating agencies’ rating standards and the allocation of credit.
How large shareholders influence inefficiencies associated with financial distress.
The cross-sectional sensitivity of credit to shocks affecting bank capital.
METHODOLOGY
I have developed a modeling approach for granular dynamic economies that yields exact global solutions and only requires inverting sparse matrices. Several of my papers showcase this approach in settings with:
Capital investment with adjustment costs and occasionally binding constraints
Granular general equilibrium economies with persistent heterogeneity
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