Margarita Tsoutsoura

Biography

Margarita Tsoutsoura is an associate professor and Smith Family Business Professor of Finance at the Samuel Curtis Johnson Graduate School of Management. She is also Faculty Research Fellow at the NBER Corporate Finance Program and Research Fellow at the Center for Economic and Policy Research. Most recently, Tsoutsoura was associate professor of finance at the Booth School of Business, University of Chicago.

Professor Tsoutsoura has several research projects studying family firms and privately held firms. Her most recent project studies the effect of mandated pay transparency on the gender pay gap. She is also interested in corporate governance as well as the effects of corruption and tax evasion. Her work on tax evasion was awarded the 2013 Wharton School-WRDS Award for Best Empirical Finance Paper. The Fulbright Fellowship and the WFA Trefftzs Award are among Tsoutsoura's other varied honors and fellowships. She is Associate Editor at Management Science and the Review of Economics and Statistics.

Her work has been published in the Quarterly Journal of Economics, Journal of Finance, Journal of Financial Economics, and Review of Financial Studies. Her research has been covered extensively in print and electronic media, including The Wall Street Journal, Financial Times, The Economist, New York Times, Washington Post, Guardian, BusinessWeek, International Herald Tribune, and CNBC.

Tsoutsoura earned her PhD in finance with distinction from the Columbia University, Graduate School of Business, her MSc in financial engineering from the Haas School of Business, University of California Berkeley, and a BSc in economics from the University of Piraeus in Greece.

Selected Publications

• Fos, Vyacheslav; Li, Kai; Tsoutsoura, Margarita. "Do Director Elections Matter?"Review of Financial Studies. 31.4 (2018): 1499-1531
• Artavanis, Nikolaos; Morse, Adair; Tsoutsoura, Margarita. "Measuring Income Tax Evasion Using Bank Credit: Evidence from Greece"Quarterly Journal of Economics. 131.2 (2016): 739-798
• Tsoutsoura, Margarita. "The Effect of Succession Taxes on Family Firm Investment: Evidence from a Natural Experiment"Journal of Finance. 70.2 (2015): 649–688
• Fos, Vyacheslav; Tsoutsoura, Margarita. "Shareholder Democracy in Play: Career Consequences of Proxy Contests"Journal of Financial Economics. 114.2 (2014): 316-340
• Haliassos, Michael; Hardouvelis, Gikas; Tsoutsoura, Margarita; Vayanos, Dimitri. "Financial Development and Macroeconomic Stability"Beyond Austerity: Reforming the Greek Economy, Ed. Costas Meghir, Ed. Christopher Pissarides, Ed. Dimitri Vayanos, Ed. Nikolaos Vettas. MIT Press. (2017)
• Bennedsen, Morten; Tsoutsoura, Margarita; Wolfenzon, Daniel. "Drivers of Effort: Evidence from Employee Absenteeism"Journal of Financial Economics. 133.3 (2019): 658-684
• Tsoutsoura, Margarita; Bennedsen, Morten; Simintzi, Elena; Wolfenzon, Daniel. "Do Firms Respond to Gender Pay Gap Transparency?"Journal of Finance. (forthcoming).
• Tsoutsoura, Margarita; Kempf, Elisabeth. "Partisan Professionals: Evidence from Credit Rating Analysts"Journal of Finance. (forthcoming).

Awards and Honors

• Wharton School-WRDS Award for the Best Empirical Finance Paper (2013) WFA
• Best Paper Award (2018) Financial Research Association Conference (FRA)
• NBER Faculty Research Fellow (2018) National Bureau of Economic Research
• Research Fellow, Financial Economic Program (2019) Center for Economic and Policy Research
• Block Center for Technology and Society Grant (2020) CMU

Recent Courses

• MGMT 5260 - Advanced Corporate Finance
• NBA 4720/NBA 6720 - Managing Family and Privately Held Firms
• NBA 6560 - Valuation Principles

Academic Degrees

• PhD Columbia Business School, Columbia University, 2010
• MS Haas School of Business, University of California, Berkeley, 2004
• BS University of Piraeus, 2001

In the News

• March 11, 2019 Study: Gender Pay Gap Shrinks When Companies Disclose Wages
• July 01, 2019 The pros and cons of debt