Pedro Matos

About

Pedro Matos holds the James A. and Stacy Cooper Bicentennial Professorship and is a professor of business administration (Finance) at the University of Virginia Darden School of Business. His research focuses on the growing importance of institutional investors in financial markets worldwide. His work has been published in top academic journals and featured in the press, including The Economist, Financial Times, The New York Times, and Bloomberg, and has been cited by regulators such as the U.S. SEC and the European Commission. Matos is a research associate at the European Corporate Governance Institute (ECGI), Vice-Chair of the UN-sponsored Principles for Responsible Investment (PRI) Academic Network Advisory Committee, and has received numerous research grants and awards. At Darden, he has published numerous case studies and has won awards for excellence in course material development and research publication. His academic background includes a B.A. in economics from Nova University in Lisbon and a Ph.D. in finance from INSEAD. Prior to his Ph.D., he worked with the Portuguese Ministry of Finance and consulted for the World Bank.

Research topics

• Business
• Political Science
• Accounting
• Law
• Finance

Selected publications

• Are foreign investors locusts? The long-term effects of foreign institutional ownership

  Journal of Financial Economics · 2017-07-19 · 693 citations

  articleOpen access
  PublisherOA PDFDOI

• Do General Managerial Skills Spur Innovation?

  Management Science · 2017-09-25 · 504 citations

  articleSenior author

  We show that firms with chief executive officers (CEOs) who gain general managerial skills over their lifetime of work experience produce more patents. We address the potential endogenous CEO–firm matching bias using firm–CEO fixed effects and variation in the enforceability of noncompete agreements across states and over time during the CEO’s career. Our findings suggest that generalist CEOs spur innovation because they acquire knowledge beyond the firm’s current technological domain, and they…

  PublisherDOI

• ESG and Responsible Institutional Investing Around the World: A Critical Review

  SSRN Electronic Journal · 2020 · 321 citations

  1st authorCorresponding
  PublisherDOI

• Do Responsible Investors Invest Responsibly?

  Review of Finance · 2022 · 208 citations

  Abstract We study whether institutional investors that sign the Principles for Responsible Investment (PRI), a commitment to responsible investing, exhibit better portfolio-level environmental, social, and governance (ESG) scores. Signatories outside of the USA have superior ESG scores than nonsignatories, but US signatories have at best similar ESG ratings, and worse scores if they have underperformed recently, are retail-client facing, and joined the PRI late. US signatories do not improve the…

  PublisherOA PDFDOI

• Leviathan Inc. and Corporate Environmental Engagement

  Management Science · 2021-09-09 · 181 citations

  articleSenior author

  In a 2010 special report, The Economist magazine termed the resurgence of state-owned, publicly listed enterprises “Leviathan Inc.” and criticized the poor governance and low efficiency of these firms. We compile a new comprehensive data set of state ownership of publicly listed firms in 44 countries over the period of 2004–2017 and show that state-owned enterprises are more responsive to environmental issues. The effect is more pronounced in economies lacking energy security and strong environm…

  PublisherDOI

Frequent coauthors

• Miguel A. Ferreira

  European Corporate Governance Institute

  243 shared

• Pedro Pires

  130 shared

• Jan Bena

  University of British Columbia

  122 shared

• Cláudia Custódio

  Imperial College London

  25 shared

• Philipp Krueger

  University of Geneva

  24 shared

• Massimo Massa

  18 shared

• Simon Gloßner

  Catholic University of Eichstätt-Ingolstadt

  15 shared

• Daniel Carvalho

  Banco de Portugal

  11 shared

Education

• PhD, Finance

  Institut européen d'administration des affaires

  2005

Awards & honors

• Wells Fargo Award for Excellence in Course Material Developm…
• Wells Fargo Award for Outstanding Research Publication
• Darden Multiyear Publications Award
• Golden Apple teaching award (University of Southern Californ…

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