Alminas Žaldokas

Associate Professor of Finance
National University of Singapore
HKUST (on leave)

alminas@gmail.com
alminas@nus.edu.sg

Antitrust, industrial organization and corporate finance, sustainable finance, innovation, governance

CV

News

• May 13-17, 2024: I will visit Seoul to give talks at Seoul National University, Korea University Business School, and Sungkyunkwan University
  
• April 23-24, 2024: I will visit Beijing to give talks at Cheung Kong Graduate School of Business and Peking University (Guanghua)
  
• April 18-19, 2024: I will discuss Antitrust Enforcement Increases Economic Activity at the Adam Smith Workshop
  
• March 20, 2024: My paper with Radha Gopalan and Renping Li Do Board Connections Between Product Market Peers Impede Competition? was awarded Sudipto Bhattacharya Memorial Prize at the 2024 European Winter Finance Summit
  
• March 17, 2024: My paper with Radha Gopalan and Renping Li Do Board Connections Between Product Market Peers Impede Competition? was awarded John L. Weinberg/IRRCi Research Paper Award at the 2024 University of Delaware Weinberg Center/ECGI Corporate Governance Symposium
  
• March 15, 2024: I gave a seminar at the HEC Paris on Kamikazes in Public Procurements

Publications and Accepted Papers

Motivating Collusion (with Sangeun Ha and Fangyuan Ma)
Journal of Financial Economics (2024)
Drexel Corporate Governance Conference 2023, Finance, Organizations, and Markets Conference 2020, ... moreAnnual Conference on Financial Economics and Accounting (Georgia State) 2022, Barcelona GSE Summer Forum (Applied Industrial Organization) 2021, AEA 2021, EEA 2021, IIOC 2021, MFA 2021, New Zealand Finance Meeting 2021, Lithuanian Conference on Economic Research 2021, Next Generation of Antitrust, Data Privacy and Data Protection Scholars Conference (NYU Law) 2020, CEIBS Finance and Accounting Symposium 2020*, Finance in the Cloud IV, Corporate Finance Day (Liege) 2020
Working Paper, Internet Appendix
Data and code
Award: CRESSE & CPI Best Paper Award for Young Researchers
Blog: Competition Policy International
Presentation videos: Finance in the Cloud, ACFOW

How Do Firms Adjust When Trade Stops? (with Povilas Lastauskas and Aurelija Proskute)
Journal of Economic Behavior & Organization (2023)
Special Issue "Wars, economic sanctions, economic behaviors, and institutions"
EEA 2022, BoL/NBP/CEBRA/CEPR Conference “Adjustments in and to an Uncertain World” 2020, ... moreIIOC 2022, AEA 2022 (poster), Baltic Economic Conference 2021, Computational and Financial Econometrics 2020, Annual Workshop of International Study Group on Exports and Productivity 2020
Working Paper, Internet Appendix
Blog: VoxEU

Background Noise? TV Advertising Affects Real Time Investor Behavior (with Jura Liaukonyte)
Management Science (2022)
NBER/RFS Conference on Big Data: Long-Term Implications for Financial Markets and Firms 2019, EFA 2019, ... moreUBS Quant Insights Series 2020, Finance Down Under 2019, European Winter Finance Summit 2019, Marketing Strategy Meets Wall Street VI Conference (INSEAD) 2019, TAU Finance Conference 2018, 11th Workshop on the Economics of Advertising and Marketing (Columbia University) 2018, SFS Cavalcade Asia-Pacific 2018, 29th Annual Conference on Financial Economics and Accounting (Tulane) 2018, 16th Paris December Finance Meeting 2018, ISB Summer Research Conference in Finance 2018, Baltic Economics Conference 2018, 16th ZEW Conference on The Economics of Information and Communication Technologies 2018
Working Paper, Internet Appendix
Mentions: WSJ, Matt Levine
Blog: Columbia Law School Blue Sky Blog
Presentation video: UBS Quant Insight Series

How Does Firms' Innovation Disclosure Affect Their Banking Relationships? (with Farzad Saidi)
Management Science (2021)
AFA 2017, WFA 2016, ... moreFinance, Organizations and Markets Conference (Dartmouth College) 2016, Conference on Innovation and Entrepreneurship (Searle Center/USPTO) 2016, MIT Asia Conference in Accounting 2016, Edinburgh Conference on Legal Institutions and Finance 2016, FMA Asia 2016, Financial Institutions, Regulation & Corporate Governance Conference 2016
Working Paper, Internet Appendix

Corporate Disclosure as a Tacit Coordination Mechanism (with Thomas Bourveau and Guoman She)
Journal of Accounting Research (2020)
AFA 2020, EFA 2019, ... moreJAR Conference 2019, Sixth Annual Conference on Financial Market Regulation (SEC) 2019, FTC Microeconommics Conference 2019, MFA 2019, FIRS 2018, Northeastern University Finance Conference 2018, CEPR Third Annual Spring Symposium in Financial Economics 2018, Texas A&M Young Scholars Finance Consortium 2018, Barcelona GSE Summer Forum (Applied Industrial Organization) 2017, LBS Accounting Symposium 2017, Colorado Summer Accounting Research Conference 2017, ABFER 2017, Annual Competition and Regulation European Summer School and Conference (CRESSE) 2017, CICF 2017, Summer Institute of Finance (Qingdao) 2017, CEIBS Accounting and Finance Symposium 2017, FMA Asia 2017, Lithuanian Conference on Economic Research 2017
Working Paper, Internet Appendix
Blog: Oxford Business Law Blog

Anti-Collusion Enforcement: Justice for Consumers and Equity for Firms (with Sudipto Dasgupta)
Review of Financial Studies (2019)
AFA 2018, EFA 2017, ... moreFinance, Organizations, and Markets Conference 2017, SFS Cavalcade 2017, FIRS 2017, Kentucky Finance Conference 2017, CICF 2017, FMA Asia 2016
Working Paper, Internet Appendix
Blog: HKUST Business Insights

The Effects of Global Leniency Programs on Margins and Mergers (with Ailin Dong and Massimo Massa)
RAND Journal of Economics (2019)
WFA 2015, EFA 2014, ... more CEIBS Finance Conference 2015, FMA Asia 2015, EUROFIDAI/AFFI International Finance Meeting 2015, ABFER 2014, EARIE 2014, Conference on Empirical Legal Studies 2014, HKUST Finance Symposium 2013
Working Paper, Internet Appendix
Award: Jerry S. Cohen Award for Antitrust Scholarship
Podcast: American Antitrust Institute
Policy brief: HKUST IEMS Thought Leadership Brief

Do Corporate Taxes Hinder Innovation? (with Abhiroop Mukherjee and Manpreet Singh)
Journal of Financial Economics (2017)
EFA 2015, NBER SI Productivity/Innovation Meeting 2014, ... moreIHS-CEPR Workshop “Moving to the Innovation Frontier" 2015, ABFER 2015, Bank of Finland and CEPR Entrepreneurial Finance, Innovation and Growth Conference 2014, CICF 2014, Journal of Law, Finance, and Accounting International Conference 2015, FMA Asia 2015, EARIE 2014, EEA 2014, EUROFIDAI/AFFI International Finance Meeting 2015, IIM Calcutta Financial Research Workshop 2014, ISB CAF Summer Research Conference 2014, Conference on Empirical Legal Studies 2014, Lithuanian Conference on Economic Research 2014, Transatlantic Doctoral Conference 2014
Working Paper, Internet Appendix
New Product Announcement Data
Award: Vladas Jurgutis Award
Mentions: Forbes, Tax Foundation
Policy briefs: CATO Institute Research Brief, HKUST IEMS Thought Leadership Brief

Information Transfers among Coowned Firms (with Massimo Massa)
Journal of Financial Intermediation (2017)
AFA 2012, CICF 2013, ... moreFinance Down Under 2013, FMA Asia 2013
Working Paper

Investor Base and Corporate Borrowing Policy: Evidence from International Corporate Bonds (with Massimo Massa)
Journal of International Economics (2014)
EFA 2011, McGill Global Asset Management Conference 2011, ... moreEUROFIDAI/AFFI International Finance Meeting 2009, FMA 2010, CRSP Forum 2010, Transatlantic Doctoral Conference 2010
Working Paper

Credit Supply and Corporate Innovation (with Mario Daniele Amore and Cédric Schneider)
Journal of Financial Economics (2013)
WFA 2013, CICF 2013, ... moreASU Sonoran Conference 2013, 23rd Annual Conference on Financial Economics and Accounting (USC) 2012, Summer Meeting of Economists in Vilnius 2013, Entrepreneurial Finance and Innovation Conference (Kauffman Foundation) 2012, Zvi Griliches Research Workshop in Economics of Innovation 2011, Conference on Innovation and Entrepreneurship (Searle Center) 2012, Nordic Finance Network Workshop 2012, ZEW Conference on the Dynamics of Entrepreneurship 2012, Druid Winter Conference 2012, EARIE 2012, EEA/ESEM 2012
Working Paper

Working Papers and Work in Progress

Do Board Connections Between Product Market Peers Impede Competition? (with Radhakrishnan Gopalan and Renping Li)
EWFS 2024, University of Delaware Weinberg/ECGI Corporate Governance Symposium 2024... more, FIRS 2023, NFI-Oxford Conference on Common Ownership, Experimental IO and Governance 2023, CICF 2023, IIOC 2023, MFA 2023, NFA 2023, AEA 2023 (poster), EFA 2023 (poster), CES North America Conference 2023, Endless Summer Finance Conference on Financial Intermediation and Corporate Finance 2022, SFS Cavalcade Asia-Pacific 2022
Awards: Sudipto Bhattacharya Memorial Prize (European Winter Finance Summit), John L. Weinberg/IRRCi Research Paper Award (2024 University of Delaware Weinberg Center/ECGI Corporate Governance Symposium)
Blog: Columbia Law School Blue Sky Blog

Conflicts in Private Family Firms (with Janis Berzins)
AFA 2023, EFA 2022, ... moreEAA 2023, SFS Cavalcade Asia-Pacific 2022, Summer Institute of Finance 2022, Baltic Economic Association 2022, FIRS 2021, Joint CEPR Workshop on Incentives, Management and Organization & Entrepreneurship Economics 2021, "Owners as Strategists" Conference 2021, MFA 2021, Paris December Finance Meeting 2020, ABFER 2020*, AEA 2020 (poster), Corporate Finance Day (Groningen) 2019

ESG Shocks in Global Supply Chains (with Emilio Bisetti and Guoman She)
EFA 2023, ESSFM (Gerzensee) 2023, ... moreMFA 2024, BFI-China Research Conference "Opportunities and Challenges for China and Beyond" (UChicago) 2023, ABFER 2023, KU Leuven Sustainability and Finance Conference 2023, Workshop on Strategic Interaction in Corporate Finance (Aarhus) 2023, ANU RSFAS Summer Research Camp 2022, FMA Asia-Pacific 2022, First NTHU Symposium on Sustainable Finance and Economics 2022

Kamikazes in Public Procurements (with Dimas Fazio)
WFA 2024, CEIBS Finance and Accounting Symposium 2023, ... more"Owners as Strategists" Conference 2023, EFA 2023 (poster), CRESSE 2023, IIOC 2023, APIOC 2023, CEPR-TCD-TIME Conference on Economic Development 2023, ZEW Economics of Public Procurement Workshop 2023, Lithuanian Conference on Economic Research 2022

New Products (with Abhiroop Mukherjee and Tomas Thornquist)
Adam Smith Workshop in Asset Pricing and Corporate Finance 2020*, Brookings Institution Productivity Measurement Initiative 2019, ... moreTaiwan Symposium on Innovation Economics and Entrepreneurship 2023, AEA 2022 (poster), EEA 2021, SGF 2021, Corporate Finance Day (RSM) 2021, Lithuanian Conference on Economic Research 2019

Older Working Papers

Bankrupt Family Firms (with Massimo Massa)
CICF 2014, ISB CAF Summer Research Conference 2014, ... moreFMA Asia 2014

Corporate Governance and International Trade (with Mario Daniele Amore)
EEA/ESEM 2011, EARIE 2011, ... more ECCCS Workshop on Corporate Governance and Control 2012, Nordic Finance Network Workshop 2010, Workshop on Corporate Governance and Investment (HHL Leipzig) 2011, EUROFIDAI/AFFI International Finance Meeting 2011

Some Links

Asia-Pacific Corporate Finance Online Workshop

HEC-HKUST Sustainable Finance Webinar and Workshop

Baltic Economic Association

Meetings of the Lithuanian Economics Network