Philip Bond

About

Philip Bond is a Professor of Finance and Business Economics at the Foster School of Business, University of Washington, where he also serves as Chair of the Department of Finance and Business Economics. He holds a PhD and MA from the University of Chicago, earned in 1999, and a BA from the same institution in 1993. His expertise encompasses corporate finance, corporate governance, derivatives, dividend and payout policy, financial institutions and banking, financial markets, household finance, macroeconomics, market microstructure, microeconomics, monetary policy, regulation, and small business finance. Throughout his academic career, Professor Bond has held positions at several prestigious institutions, including the University of Pennsylvania's Wharton School, the University of Minnesota's Carlson School of Management, and Northwestern University's Kellogg School of Management. His research focuses on various aspects of financial economics, contributing to the understanding of market behavior, regulation, and financial decision-making. He has served as co-editor of the Journal of Finance and has been actively involved in academic leadership, including serving as President of the Finance Theory Group from 2016 to 2017.

Research topics

• Biology
• Genetics
• Microbiology
• Biotechnology
• Biochemistry
• Food science
• Cell biology
• Chemistry

Selected publications

• Silence is safest: Information disclosure when the audience’s preferences are uncertain

  Journal of Financial Economics · 2021-09-20 · 73 citations

  articleOpen access1st authorCorresponding

  We examine voluntary disclosure decisions when firms are uncertain about audience preferences and are risk averse. In contrast to classic “unraveling” results, some firms remain silent in equilibrium. Silence is safer than disclosure; silence reduces the sensitivity of a firm’s payoff to audience preferences. Increases in firm (audience) risk-aversion reduce (increase) disclosure. Our model explains why some firms do not disclose earnings breakdowns, executive compensation, or Environmental, Soc…

  PublisherDOI

• The Equilibrium Consequences of Indexing

  Review of Financial Studies · 2021-09-16 · 69 citations

  article1st authorCorresponding

  Abstract We develop a benchmark model to study the equilibrium consequences of indexing in a standard rational expectations setting. Individuals incur costs to participate in financial markets, and these costs are lower for individuals who restrict themselves to indexing. A decline in indexing costs directly increases the prevalence of indexing, thereby reducing the price efficiency of the index and augmenting relative price efficiency. In equilibrium, these changes in price efficiency in turn f…

  PublisherDOI

• The Equilibrium Consequences of Indexing

  Review of Financial Studies · 2021-09-17 · 26 citations

  article1st authorCorresponding

  Abstract We develop a benchmark model to study the equilibrium consequences of indexing in a standard rational expectations setting. Individuals incur costs to participate in financial markets, and these costs are lower for individuals who restrict themselves to indexing. A decline in indexing costs directly increases the prevalence of indexing, thereby reducing the price efficiency of the index and augmenting relative price efficiency. In equilibrium, these changes in price efficiency in turn f…

  PublisherDOI

• Failing to forecast rare events

  Journal of Financial Economics · 2021-06-26 · 4 citations

  article1st authorCorresponding
  PublisherDOI

• Income and Inequality Under Asymptotically Full Automation

  SSRN Electronic Journal · 2023-01-01 · 2 citations

  articleOpen access1st authorCorresponding
  PublisherDOI

Frequent coauthors

• Ulf Axelson

  85 shared

• Jürg Keller

  54 shared

• Zhiguo Yuan

  City University of Hong Kong

  52 shared

• Guangming Jiang

  University of Wollongong

  47 shared

• Jianhua Guo

  University of Queensland

  27 shared

• Margaret Wexler

  27 shared

• Itay Goldstein

  National Bureau of Economic Research

  25 shared

• Mark Dopson

  Linnaeus University

  24 shared

Education

• PhD, Chemical Engineering

  The University of Queensland

  1997

Awards & honors

• Brattle Group Prize Distinguished Paper

Similar researchers at University of Washington

• Bruce Avolioh-108
• Christopher M. Barnesh-43
• Warren Boekerh-30