SNEHAL BANERJEE

Associate Professor of Finance
Rady School of Management
University of California, San Diego
Office: Room 4S149, Otterson Hall
Email: snehal.banerjee@rady.ucsd.edu
Phone: (858) 534-2795

CURRICULUM VITAE
(Google Scholar, SSRN Page)


REFEREED PUBLICATIONS

Choosing to Disagree: Endogenous Dismissiveness and Overconfidence in Financial Markets
(with J. Davis and N. Gondhi)
      Journal of Finance, 2024, 79(2):1635-1695

Disclosing to Informed Traders (with I. Marinovic and K. Smith)
      Journal of Finance, 2023, 79(2):1513-1578
      Winner of the Accounting and Economics Society Notable Working Paper Award, 2020

Harnessing the Overconfidence of the Crowd: A Theory of SPACs (with M. Szydlowski)
      Journal of Financial Economics, 2024, 153:103787
      Summary: Harvard Law School Forum on Corporate Governance

On the Voluntary Disclosure of Redundant Information (with B. Breon-Drish, R. Kaniel and I. Kremer)
      Journal of Economic Theory, 2023, 214:105743

Dynamics of Research and Strategic Trading (with B. Breon-Drish)
      Review of Financial Studies, 2022, 35(2):908-961

Strategic trading and unobservable information acquisition (with B. Breon-Drish)
      Journal of Financial Economics, 2020, 138(2):458-482

When transparency improves, must prices reflect fundamentals better? (with J. Davis and N. Gondhi)
      Review of Financial Studies, 2018, 31(6):2377-2414

Signal or noise? Uncertainty and learning about whether other traders are informed (with B. Green)
      Journal of Financial Economics, 2015, 117(2):398-423

Trading in Derivatives when the Underlying is Scarce (with J. Graveline)
      Journal of Financial Economics, 2014, 111(3):589-608

The Cost of Short-Selling Liquid Securities (with J. Graveline)
      Journal of Finance, 2013, 68(2):637-664

Factor-loading Uncertainty and Expected Returns (with C. Armstrong and C. Corona)
      Review of Financial Studies, 2013, 26(1):158-207

Learning from Prices and the Dispersion in Beliefs
      Review of Financial Studies, 2011, 24(9):3025-3068
      Winner of the RFS Young Researcher Prize, 2010

Disagreement and Learning: Dynamic Patterns of Trade (with I. Kremer)
      Journal of Finance, 2010, 65(4):1269-1302

Price Drift as an Outcome of Differences in Higher Order Beliefs (with R. Kaniel and I. Kremer)
      Review of Financial Studies, 2009, 22(9):3707-3734, correction


OTHER RESEARCH PUBLICATIONS

Discussion of “Disclosure Processing Costs, Investors’ Information Choice, and Equity Market Outcomes: A Review” (with B. Breon-Drish and Joey Engelberg)
      Journal of Accounting and Economics, 2020, 70(2):101337


ACTIVE WORKING PAPERS

Feedback Effects and Systematic Risk Exposures (with B. Breon-Drish and K. Smith)  
      When prices reflect both cash-flow and discount-rate news, how does feedback affect
      investment, firm value and welfare?

Motivated Beliefs in Coordination Games (with J. Davis and N. Gondhi)  
      Wishful thinkers agree to disagree about public information when strategic
      considerations are important.

Asymmetric Information, Disagreement, and the Valuation of Debt and Equity
(with B. Breon-Drish and K. Smith)
      How disagreement and liquidity demand affect debt and equity valuations depends on how
      investors interpret the information in prices.

Incentivizing Effort and Informing Investment: The Dual Role of Stock Prices
(with J. Davis and N. Gondhi)  
      Prices that are more informative about investment opportunities may be worse for contracting.

Excessive Risk-Taking and Founder Friendly VCs (with M. Szydlowski)
      Entrepreneurs take less risk when VCs are friendlier.

Information Provision and the Curse of Knowledge (with J. Davis and N. Gondhi)
      The curse of knowledge improves information production and can improve communication.

Leaks, disclosures and internal communication (with K. Hu and T. Kim)
      Higher likelihood of leaks can increase disclosure, but reduce efficiency.


INACTIVE WORKING PAPERS

Conceal to Coordinate (with T. Kim and V. Mangla)

Transparency versus Tone: Public Communication with Limited Commitment (with Q. Liu )