Matthew Todd Lange Gustafson

Color portrait of Matthew Gustafson

Assistant Professor of Finance

Office Address 335 Business Building
Phone Number 814-867-4042
Email Address mtg15@psu.edu

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Matthew's research examines topics in corporate finance, with an emphasis on capital raising and financial regulation, and personal finance. His work has been accepted for publication at The Journal of Financial Economics , The Journal of Public Economics, The Journal of Accounting and Economics, The Journal of Financial and Quantitative Analysis, and Management Science. In addition, he has presented his work at top finance and economics conferences such as, the American, Western, and European Finance Associations and the American Economic Association Annual Meetings.

Matthew earned his PhD from the William E. Simon Graduate School of Business at the University of Rochester in June of 2013. While at the Simon School, he taught two core MBA finance classes and was named to the Simon School Teaching Honor Roll. Matthew graduated from Swarthmore College in 2005 with a degree in economics. Before beginning his doctoral studies in 2008 he worked at a financial consulting company, obtained an M.S. in Applied Statistics from Villanova University, and coached basketball at Swarthmore College where he had been team captain in 2005.

Expertise

Corporate Finance, Securities Issuance, Financial Regulation, Financial Intermediation, Personal Finance

Education

Ph D, Finance (Accounting), University of Rochester, 2013

MS, Finance, University of Rochester, 2011

MS, Applied Statistics, Villanova University, 2008

BA, Economics, Swarthmore College, 2005

Courses Taught

FIN 601 – PH.D. DISSERTATION FULL-TIME (12)
NO DESCRIPTION.

FIN 305M – Financial Management of the Business Enterprise (Honors) (3)
Development of advanced practices of financial management and their application to decision making in a business firm.

FIN 305W – Financial Management of the Business Enterprise (3)
Development of advanced practices of financial management and their application to decision making in a business firm.

Selected Publications

Gustafson M., "Inter-Market Competition and Bank Loan Spreads: Evidence from The Securities Offering Reform." Journal of Banking and Finance, 2018
3rd Prize in the 2011 Australasian Finance and Banking Conference PhD Forum. 3rd Chapter of my PhD dissertation.
Gustafson M., Bernstein A., Lewis R., "Disaster on the Horizon: The Price Effect of Sea Level Rise." Journal of Financial Economics, 2018
Presented at the 2018 Texas Finance Festival, the 2018 Western Finance Association Meetings, and the 2018 European Finance Association Meetings.
Gustafson M., "Price Pressure and Overnight Seasoned Equity Offerings." Journal of Financial and Quantitative Analysis, vol. 53, 2018, pp. p. 837 - 856
Presented at the 2013 American Finance Association and the 2012 European Finance Association meetings. Chapter 1 of my PhD dissertation.
Gustafson M., Field L. B., Pisciotta K., Dambra M., "The Consequences to Analyst Involvement in the IPO Process: Evidence Surrounding the JOBS Act." Journal of Accounting and Economics, vol. 65, 2018, pp. p. 302 - 330
Presented at NYU & Ross Institute Conference on Stock Markets and Capital Formation.
Gustafson M., Velthuis R., Cao C., "Index Membership and Small Firm Financing." Management Science, 2017
Presented at the 2014 European Finance Association and 2014 Northern Finance Association meetings.
Gustafson M., Iliev P. G., "The Effects of Removing Barriers to Equity Issuance." Journal of Financial Economics, vol. 124, 2017, pp. p. 580 - 598
Presented at the 2016 American Finance Association Meetings.
Gustafson M., "The Market Sensitivity of Retirement and Defined Contribution Pensions: Evidence from the Public Sector." Journal of Public Economics, vol. 145, 2017, pp. 1-13
Lead article. Presented at the 2014 American Economic Association meetings. Chapter 2 of my PhD dissertation.
Gustafson M., Ivanov I., Ritter J., "Financial Condition and Product Market Cooperation." Journal of Corporate Finance, vol. 31, 2015, pp. 1-16
Lead Article.
Gustafson M., Field L. B., Dambra M., "The JOBS Act and IPO Volume: Evidence that Disclosure Costs Affect the IPO Decision." Journal of Financial Economics, vol. 116, 2015, pp. 121-143.

Research Impact and Media Mentions

"We asked 11 climate scientists where they'd live in the US to avoid future natural disasters — here’s what they said", Business Insider
"Study: Sea level rise already hurting coastal real estate prices", Pennsylvania NPR
"Rising Risks: 'Climate gentrification' is changing Miami real estate values – for better and worse", CNBC
"Location, Location And—Climate Change? How Rising Temperatures Lower Home Values", Colorado Public Radio
"As Sea Level Rises, Home Values Are Dropping", NPR for the Cape, Coast, and Islands
"Flooding Risk Knocks $7 Billion Off Home Values, Study Finds", Wall Street Journal
"Nearly one trillion dollars of US real estate is threatened by rising seas, and the risk is already affecting home values", Business Insider
"Sea Level Rise is Eroding Home Value, and Owners Might not Even Know It", Washington Post
"Sea level rise is pushing coastal property owners to move to higher ground", CNN
"Climate Change Turns Coastal Property Into a Junk Bond", Bloomberg
"The risk of sea level rise is chipping away at Miami home values, new research shows", The Miami Herald
"Rising Sea Levels Reshape Miami’s Housing Market", Wall Street Journal
"South Florida's Real Estate Reckoning Could be Closer then You Think", Bloomberg
"The JOBS Act at Five: Examining Its Impact and Ensuring the Competitiveness of the U.S. Capital Markets", Testimony before the U.S. House of Representatives, Subcommittee on Capital Markets, Securities, and Investments,
"Here's when to expect Snap 'Buy' recommendations", Yahoo Finance
"The JOBS Act at Four: Examining Its Impact and Proposals to Further Enhance Capital Formation", U.S. House Financial Services Committee
"Pay Ratio Disclosure Rule", Securities and Exchange Commission Final Rule: RIN3235-AL47,
"Ammendments for Small and Additional Issues Exemptions Under the Securities Act", Securities and Exchange Commission Final Rule: RIN3235-AL39
"UBS Academic Research Monitor", UBS, UBS internal document to clients
"JOBS Act Fuels IPO Boom", CFO.com, Web
"JOBS Act Rewards U.S. Exchanges Amid Surge of Criticism", Bloomberg.com, Web
"On the IPO On-Ramp", CFO Magazine, Journal or Magazine
"The Harvard Law School Forum on Corporate Governance and Financial Regulation", The Harvard Law School Forum on Corporate Governance and Financial Regulation, Web