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Heitor Almeida

Professor of Finance and Stanley C. and Joan J. Golder Chair in Corporate Finance


Educational Background

PhD Economics, University of Chicago, 2000
Master in Economics, PUC-Rio at Rio de Janeiro, RJ, 1995
BA Business Administration, UNA, Belo Horizonte, UG, 1993
BA Economics, UFMG at Belo Horizonte, MG, 1991

Positions Held

Stanley C. and Joan J. Golder Distinguished Chair in Finance, University of Illinois, 2011-2014
Research Associate, National Bureau of Economic Research, 2010-2014
Professor of Finance, University of Illinois, 2009-2014
Director of the Finance PhD program, University of Illinois, 2008-2014
Faculty Research Fellow, National Bureau of Economic Research, 2005-2010
Associate Professor of Finance, University of Illinois, 2007-2009
Associate Professor of Finance, Stern School of Business, New York University, 2007-2008
Assistant Professor of Finance, Stern School of Business, New York University, 2000-2006
Visiting Professor, FGV-Rio, 2001-2003

Recent Publications

Almeida, H., Fos, V., Kronlund, M. Forthcoming. The Real Effects of Share Repurchases. Journal of Financial Economics

Almeida, H., Kim, H., Kim, C. Forthcoming. Internal Capital Markets in Business Groups: Evidence from the Asian Financial Crisis. Journal of Finance

Almeida, H., Acharya, V., Ippolito, F. Forthcoming. Credited Lines as Monitored Liquidity Insurance: Theory and Evidence. Journal of Financial Economics

Almeida, H., Campello, M., Cunha, I., Weisbach, M. Forthcoming. Corporate Liquidity Management: A Conceptual Framework and Survey. Annual Review of Financial Economics

Almeida, H., Campello, M., Galvao, A. Forthcoming. Assessing the Performance of Estimators that Deal with Measurement Error in Linear Models. In Chang-Few Lee (Ed.), Handbook of Financial Econometrics and Statistics. Dordrecht: Springer.

Almeida, H., Acharya, V., Campello, M. 2013. Aggregate Risk and the Choice Between Cash and Lines of Credit. Journal of Finance, 68: 2059-2116

Honors and Awards

Professor of the Year, 2015 EMBA Class, UIUC, 2015

Professor of the Year, 2014 EMBA Class, UIUC, 2014

Excellence in Undergraduate Teaching, College of Business, UIUC, 2013

Distinguished Service Award, Management Science, 2012, 2013

Scholar, CFO Program Fellows and Scholars, Deloitte LLP, 2011-2012

Service Activities

Associate Editor, Journal of Financial Intermediation, present
Associate Chair, SFS Finance Cavalcade, present
Co-editor, special edition of the Journal of Financial Economics on the "Capital structures of financial and non-financial firms", 2013-2014
Presenter, University of Chicago, Rice University, University of Houston, New York Fed, Georgia Tech University, Manchester Business School, London School of Economics, HKUST, National University of Singapore, Nanyang Technological University, Singapore Management University, 2013-2014
Grant Reviewer, Research Grants Council, 2013-2014
Associate Editor, Management Science, 2011-2014
Associate Editor, Brazilian Journal of Finance, 2009-2014
Ad Hoc Referee, American Economic Review, Quarterly Journal of Economics, Journal of Finance , Journal of Political Economy, Review of Financial Studies, Review of Economic Studies, Econometrica, Journal of Economic Theory, Management Science, Journal of Financial and Quantitative Analysis, Journal of Money, Credit and Banking, Review of Economics and Statistics, Finance Research Letters, 2008-2014
Associate Editor, International Review of Finance, 2008-2014
Associate Editor, Review of Financial Studies, 2008-2014
Presenter, American Finance Association, AFA, 2013
Conference Organizer, NBER meeting on Understanding the Capital Structures of Non-Financial and Financial Corporations, April, 2013
Session Chair, AFA Meeting, 2013
Presenter, Brigham-Young University, Boston College, University of Kentucky, Pompeu Fabra University, Nantes Ecole de Management, Chinese University of Hong Kong, University of Hong Kong, Cornell University, 2012-2013
Presenter, NBER summer meeting, Brazilian Finance Meeting (invited presentation), Annual Corporate Finance at Washington University, 2012
Presenter, European Central Bank (Frankfurt-GER), University of Connecticut, Norwegian School of Economics, University of New South Wales, University of Technology Sydney, University of Sydney, University of Southern California, University of California at San Diego, 2011-2012
Lecturer, Deloitte CFO Conference, HKUST Finance Symposium, NBER Summer Meeting, 2011
Session Chair, WFA Meeting, 2011
Presenter, ESSEC-Paris, Vienna University of Economics and Business, Universitat Pompeu Fabra, University of Florida, University of Amsterdam, 2010-2011

Teaching and Research Interests

Mergers and acquisitions, corporate finance

Financial constraints, international corporate finance, business groups, financial distress, corporate governance and managerial decision-making.