Michael Roberts

Michael Roberts is the William H. Lawrence Professor and Professor of Finance at the Wharton School of the University of Pennsylvania. His research interests include applied econometrics, corporate investment, capital structure, and payout policy, empirical asset pricing, security design and contract renegotiation, financial literacy, and artificial intelligence. He is a Research Associate of the National Bureau of Economic Research and an affiliate of the Institute for Law and Economics and the Wharton Financial Institutions Center. Roberts has taught a variety of finance courses at the undergraduate, graduate, and executive levels at institutions such as UC Berkeley, Duke University, and Wharton. He is also involved in financial education initiatives, including the Financial Proficiency Initiative, which aims to provide financial education to high school students.

Michael R. Roberts is the William H. Lawrence Professor of Finance at The Wharton School, University of Pennsylvania. His research focuses on Finance, Economics, Econometrics, Statistics, and Law, with a particular emphasis on corporate finance, capital structure, and financial contracting. His work explores topics such as debt covenants, information asymmetry, and the impact of financing on investment. Roberts investigates how firms manage capital structures, the role of peer firms in financial policy, and the effects of credit supply on corporate decisions. His research also examines the historical trends in capital structure and the implications of payout yield for asset pricing. His studies contribute to understanding the interplay between financial contracts, corporate behavior, and market dynamics.