Expertise: 

Amit Seru

Senior Fellow
Biography: 

Amit Seru is a Senior Fellow at the Hoover Institution, a Professor of Finance at the Stanford Graduate School of Business, and Stanford Institute for Economic Policy Research (SIEPR), and a Research Associate at the National Bureau of Economic Research (NBER). He formerly taught at the University of Chicago’s Booth School of Business.

Professor Seru’s primary research interest is in corporate finance. He is interested in issues related to financial intermediation and regulation, interaction of internal organization of firms with financing and investment, and incentive provision in firms. His papers in these areas have been published in several journals, including, the American Economic Review, the Quarterly Journal of Economics, the Journal of Political Economy, the Journal of Finance, the Journal of Financial Economics, the Journal and the Review of Financial Studies. He is a Co-Editor of the Journal of Finance and an Associate Editor of the Journal of Political Economy. His research has been featured in major media, including the Wall Street Journal, the New York Times, the Financial Times and the Economist.

Seru earned a bachelor’s degree in electronics and communication and an MBA from the University of Delhi. Subsequently, he received a PhD in finance from the University of Michigan before joining the University of Chicago. He was a senior consultant at Accenture before pursuing his Ph.D. Seru was the recipient of a Rackham Pre-Doctoral Fellowship at University of Michigan and received a Lt. Governor’s gold medal for overall academic excellence at the University of Delhi.

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Recent Commentary

In the News

3M Sticks Together, As Rivals Break Apart

quoting Amit Seru via The Wall Street Journal
Thursday, April 11, 2019

[Subscription Required] As other sprawling corporations break up or shed assets, 3M Co. is doubling down on its future as a conglomerate. Peers such as United Technologies Corp. and DowDuPont Inc. are splitting up. General Electric Co. is shrinking. Arconic Inc., cleaved off three years ago from the aluminum giant that was Alcoa, plans to dump more units this year.

 

Analysis and Commentary

The Labor Market For Financial Misconduct

by Amit Seru , Gregor Matvosvia The National Bureau Of Economic Research
Monday, April 8, 2019

Financial advisers in the United States manage over $30 trillion in investible assets, and plan the financial futures of roughly half of U.S. households. At the same time, trust in the financial sector remains near all-time lows. The 2018 Edelman Trust Barometer ranks financial services as the least trusted sector by consumers, finding that only 54 percent of consumers "trust the financial services sector to do what is right."

In the News

Why The Binding Arbitration Game Is Rigged Against Customers

quoting Amit Seru via Phys.org
Wednesday, March 13, 2019
You may have noticed it in the boilerplate of your customer contract with a bank, a brokerage firm, or just a cellular phone carrier.
In the News

How Much Does Innovation Drive Economic Growth?

featuring Amit Seru via KelloggInsight
Monday, March 4, 2019

What drives economic progress? The answer to that question remains something of a mystery.

Bank Vault
In the News

Commentary: Bike-Sharing E-Wallets, Peer-To-Peer Lending And The Astronomical Rise Of Shadow Banking

mentioning Amit Seru via Channel NewsAsia
Sunday, February 17, 2019

When many Singaporeans lost their deposit to oBike after news of its ghastly exit rocked the nation, consumers awoke to the risks of putting money into an e-wallets and the possibility that they might find theirs emptied all of a sudden, with little recourse for help.

Analysis and Commentary

Shift Job Paradigm Without Fail

by Chirantan Chatterjee mentioning Amit Seru via DNA India
Tuesday, February 5, 2019

Recent reports suggest that the Government of India may have withheld data of latest unemployment figures, post the 2016 Indian demonetisation.

Analysis and Commentary

Arbitration With Uninformed Consumers

by Mark Egan, Amit Seru via Harvard Law School
Monday, January 28, 2019

Arbitration is a private mechanism for resolving disputes outside of the court system. In arbitration the contracting parties present their case to a private arbitrator who then issues a legally-binding resolution to the dispute. When consumers purchase a product or service, the purchase often contains a pre-dispute arbitration provision, which legally mandates that the consumer must resolve any related dispute using arbitration.

Analysis and Commentary

Regulation Of The Mortgage Market Must Consider Shadow Banks

by Amit Seru via Stanford Institute for Economic Policy Research (SIEPR)
Thursday, December 20, 2018

When we think about mortgages, what often comes to mind is a traditional bank or savings institution. The corner banker is seen as the mortgage lender and people get home loans at the same place where they may hold checking or savings accounts. But such a view does not reflect the real nature of the U.S. mortgage market.

Crowd at New York's American Union Bank during a bank run early in the Great Depression.
Analysis and Commentary

Mortgage Market Design: Lessons From The Great Recession

by Tomasz Piskorski, Amit Seru via Brookings Institution
Thursday, March 8, 2018
Rigidity of mortgage contracts and a variety of frictions in design of the market and the intermediation sector hindered efforts to restructure or refinance household debt in the aftermath of the crisis. Using a simple framework that builds on mortgage design literature, we illustrate that automatically indexed mortgage contracts or debt relief policies can reduce borrower’s debt burden during economic downturns, thereby leading to significant welfare gains.
Analysis and Commentary

Letter To Senators Protesting Parts Of S.2155 - Economic Growth, Regulatory Relief, And Consumer Protection Act

by Amit Seru , Anat R. Admati, Paul Pfleiderervia Bankers New Clothes
Tuesday, March 6, 2018

Excessive and inefficient reliance on debt throughout the financial system was a key cause of the global financial crisis. The crisis exposed the inadequacy, poor design and ineffective enforcement of the regulations in place to prevent this excessive borrowing and the buildup of risk throughout the system.

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