Heitor Almeida
Professor of Finance
Education
PhD Economics
University of Chicago,
2000.
Master in Economics
PUC-Rio,
1995.
BA Business Administration
UNA, Belo Horizonte, UG,
1993.
BA Economics
UFMG,
1991.
Research Interests
Financial constraints, international corporate finance, business groups, financial distress, corporate governance and managerial decision-making.
Research
Journal Articles
"Corporate Financial and Investment Policies when Future Financing is not Frictionless"
H. Almeida,
M. Campello,
M. Weisbach,
Journal of Corporate Finance,
2009.
SSRN Abstract
"Financing Frictions and the Substitution Effect Between Internal and External Funds"
H. Almeida,
M. Campello,
Journal of Financial and Quantitative Analysis,
2008.
SSRN Abstract
"Estimating Risk-Adjusted Costs of Financial Distress"
H. Almeida,
T. Philippon,
Journal of Applied Corporate Finance,
Fall,
105-111
2008.
SSRN Abstract
"Understanding the Relationship Between Founder-CEOs and Corporate Performance"
H. Almeida,
R. Adams,
D. Ferreira,
Journal of Empirical Finance,
2008.
SSRN Abstract
"Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies"
V. Acharya,
H. Almeida,
Journal of Financial Intermediation,
(16)
515-554
2007.
SSRN Abstract
"The Risk-Adjusted Cost of Financial Distress"
H. Almeida,
T. Philippon,
Journal of Finance,
(62)
December,
6
2557-2586
2007.
SSRN Abstract
"Financial Constraints, Asset Tangibility and Corporate Investment"
H. Almeida,
M. Campello,
Review of Financial Studies,
(20)
1429-1460
2007.
SSRN Abstract
"A Theory of Pyramidal Ownership and Family Business Groups"
H. Almeida,
D. Wolfenzon,
Journal of Finance,
(61)
December,
2637-2681
2006.
SSRN Abstract
"The Financial Accelerator: Evidence from International Housing Markets"
H. Almeida,
M. Campello,
C. Liu,
Review of Finance,
(10)
1-32
2006.
SSRN Abstract
"Should Business Groups Be Dismantled? The Equilibrium Costs of Efficient Internal Capital Markets"
H. Almeida,
D. Wolfenzon,
Journal of Financial Economics,
(79)
99-144
2006.
SSRN Abstract
"Powerful CEOs and Their Impact on Corporate Performance"
R. Adams,
H. Almeida,
D. Ferreira,
Review of Financial Studies,
(18)
1403-1432
2005.
SSRN Abstract
"The Effect of External Finance on the Equilibrium Allocation of Capital"
H. Almeida,
D. Wolfenzon,
Journal of Financial Economics,
(75)
133-164
2005.
SSRN Abstract
"The Cash Flow Sensitivity of Cash"
H. Almeida,
M. Campello,
M. Weisbach,
Journal of Finance,
(59)
1777-1804
2004.
SSRN Abstract
"Democracy and the Variability of Economic Performance"
H. Almeida,
D. Ferreira,
Economics and Politics p. 225-257
2002.
SSRN Abstract
"Optimal State-Dependent Rules, Credibility and Inflation Inertia"
H. Almeida,
M. Bonomo,
Journal of Monetary Economics,
(49)
October,
1317-1336
2002.
SSRN Abstract
Working Papers
"Liquidity Mergers"
H. Almeida,
M. Campello,
D. Hackbarth,
2009.
SSRN Abstract
"The Structure and Formation of Business Groups: Evidence from Korean Chaebols"
H. Almeida,
S. Park,
M. Subrahmanyam,
D. Wolfenzon,
2009.
SSRN Abstract
"Corporate Financial and Investment Policies when Future Financing is not Frictionless"
H. Almeida,
M. Campello,
M. Weisbach,
2009.
"Financing Frictions and the Substitution Between Internal and External Funds"
H. Almeida,
M. Campello,
2009.
"Understanding the Relationship Between Founder-CEOs and Corporate Performance"
H. Almeida,
R. Adams,
D. Ferreira,
2009.
"Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis"
M. Campello,
H. Almeida,
B. Laranjeira,
S. Weisbenner,
2007.
"Financial Constraints and Investment-Cash Flow Sensitivities: New Research Directions"
H. Almeida,
M. Campello,
2002.
SSRN Abstract
Honors and Awards
Brattle Prize, first place
, Journal of Finance
, 2008
Nomination for the Brattle Prize
, Journal of Finance
, 2007
Finalist for the Journal of Finance Brattle Prize
, Journal of Finance
, 2007
Goldman Sachs Best Paper Prize
, Review of Finance
, 2006
Jensen Prize for Best Paper in Corporate Finance and Organizations (Second Prize)
, Journal of Financial Economics
, 2005
Faculty research fellow
, NBER
, 2005
Glucksman Prize Honorable Mention for “Best Working Paper in Finance”
, Stern/NYU
, 2005
Nomination for Brattle Prize
, Journal of Finance
, 2004
Glucksman First Prize Award
, NYU/Stern
, 2004
Best Working Paper in Finance
, Fitch Runner Up Award Stern/NYU
, 2002-2003
Haralambos Simeonides Prize
, Brazil
, 2002