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Scott Weisbenner

Professor of Finance and James F. Towey Faculty Fellow

Education

Ph.D. Economics, Massachusetts Institute of Technology, 1999.
B.A. Economics and Mathematics, University of Wisconsin, 1995.

Positions

Visiting Professor of Finance, Nanyang Technological University, 2010
Associate Editor for special issue on behavioral economics and finance, Management Science, 2010
Faculty Research Fellow, National Bureau of Economic Research (NBER), 2002 - 2009
Julian Simon Memorial Faculty Fellow, University of Illinois, 2007 - 2009
A.J. Pasant Professor of Finance, Michigan State University, 2009
Visiting Professor of Finance, City University of Hong Kong, 2009
Visiting Professor of Finance, Massey University, 2009
Assistant Professor of Finance, University of Illinois, 2000 - 2007
Economist, Federal Reserve Board of Governors, 1999 - 2000

Research Interests

Weisbenner’s research studies household portfolio decisions and the financial and operational decisions made by corporate executives and other institutional managers. It draws on a number of different identification strategies and data sets to provide insights on these issues, often with implications for broader questions in finance and economics. To answer the questions posed by his research, Professor Weisbenner uses variation in the conditions facing households and institutions by geography, changes to tax and other policy parameters, and financial shocks.

Research

Journal Articles

"How University Endowments Respond to Financial Market Shocks: Evidence and Implications." J. Brown, S. Dimmock, J. Kang, S. Weisbenner, American Economic Review, (104) March: 3 931-962 2014


"Defined Contribution Plans as a Foundation for Retirement Security." Journal of Retirement, 2014


"The Distributional Effects of the Social Security Windfall Elimination Provision." J. Brown, S. Weisbenner, Journal of Pension Economics and Finance, (12) October: 4 415-434 2013


"Why Do Individuals Choose Defined Contribution Plans? Evidence from Participants in a Large Public Plan." J. Brown, S. Weisbenner, Journal of Public Economics, 2013


"Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis." H. Almeida, M. Campello, B. Laranjeira, S. Weisbenner, Critical Finance Review, (1) January: 1 3-58 2012


"Local Dividend Clienteles." B. Becker, Z. Ivkovich, S. Weisbenner, Journal of Finance, (66) April: 2 655-684 2011


"The Effect of Inheritance Receipt on Retirement Decisions." J. Brown, C. Coile, S. Weisbenner, Review of Economics and Statistics, (92) August: 2 425-434 2010


"Individual Investor Mutual-Fund Flows." Z. Ivkovich, S. Weisbenner, Journal of Financial Economics, (92) May: 2 223-237 2009


"Neighbors Matter: Causal Community Effects and Stock Market Participation." J. Brown, Z. Ivkovich, P. Smith, S. Weisbenner, Journal of Finance, (63) June: 3 1509-1531 2008


"Portfolio Concentration and the Performance of Individual Investors." Z. Ivkovich, C. Sialm, S. Weisbenner, Journal of Financial and Quantitative Analysis, (43) September: 3 613-656 2008


"Information Diffusion Effects in Individual Investors' Common Stock Purchases: Covet Thy Neighbors' Investment Choices." Z. Ivkovich, S. Weisbenner, Review of Financial Studies, (20) July: 1327-1357 2007


"Individual Account Investment Options and Portfolio Choice: Behaviorial Lessons from 401 (k) Plans." J. Brown, N. Liang, S. Weisbenner, Journal of Public Economics, (91) November: 10 1992-2013 2007


"Executive Financial Incentives and Payout Policy: Evidence from the 2003 Dividend Tax Cut." J. Brown, N. Liang, S. Weisbenner, Journal of Finance, (62) August: 4 1935-1965 2007


"401(k) Matching Contributions in Company Stock: Costs and Benefits for Firms and Workers." J. Brown, N. Liang, S. Weisbenner, Journal of Public Economics, (90) August: 1315-1346 2006


"Local Does as Local Is: Information Content of the Geography of Individual Investors' Common Stock Investments." Z. Ivkovich, S. Weisbenner, Journal of Finance, (60) 1 267-306 2005


"Tax-Motivated Trading by Individual Investors." Z. Ivkovich, J. Poterba, S. Weisbenner, The American Economic Review, (95) 5 1605-1630 2005


"Inter-Asset Differences in Effective Estate Tax Burdens." S. Weisbenner, J. Poterba, The American Economic Review, (93) May: 2 360-365 2003


"Do Pension Plans with Participant Investment Choice Teach Households to Hold More Equity?." S. Weisbenner, Journal of Pension Economics and Finance, (1) November: 3 223-248 2002


"Capital Gains Tax Rules, Tax-Loss Trading, and Turn-of-the Year Returns." S. Weisbenner, J. Poterba, Journal of Finance, (56) February: 1 353-368 2001

Chapters in Books

"The Supply and Demand for Charitable Donations to Higher Education.." J. Brown, S. Dimmock, S. Weisbenner, In How the Great Recession Affected Higher Education, 2012


"Who Chooses Defined Contribution Plans?." J. Brown, S. Weisbenner, 131-161 In Social Security Policy in a Changing Environment, (Eds: Jeffrey R. Brown, Jeffrey Liebman, and David Wise), University of Chicago Press: Chicago, IL, 2009


"Intergenerational Transfers and Savings Behavior." J. Brown, S. Weisbenner, 181-201 In Perspectives on the Economics of Aging, (Eds: David A. Wise), University of Chicago Press: Chicago, IL, 2004


"The Distributional Burden of Taxing Estates and Unrealized Capital Gains at Death." S. Weisbenner, J. Poterba, 422-449 In Rethinking Estate and Gift Taxation, (Eds: William G. Gale, James R. Hines, and Joel Slemrod), Brookings Institution, 2001

Honors and Awards


National Science Foundation Fellowship , 1995-1999


Pre-Doctoral Fellow in Aging and Health Economics, NBER & National Institute on Aging , 1997-1998


Phi Beta Kappa , 1994


Winner, Jacob K. Javits Fellowship , 1995


BSI Gamma Foundation Research Award (1 of 12 selected) , 2005


Research Associate, National Bureau of Economic Research (NBER) , 2009-2013


Honorable Mention for the Campus Award for Excellence in Undergraduate Teaching , 2004


Runner-up for the College of Business Alumni Association's Excellence in Undergraduate Teaching Award , 2004


Faculty Research Fellow, National Bureau of Research (NBER) , 2002-2009


Selected to List of Teachers Rated as Excellent, University of Illinois , 2002-2014


Nominated for Smith Breeden Prize as best paper published in the Journal of Finance , 2005


Julian Simon Memorial Faculty Fellow, University of Illinois , 2007-2009


James F. Towey Faculty Fellow, University of Illinois , 2009-2014


Editor, Journal of Pension Economics and Finance , 2010-2013


Winner of the College of Business Alumni Association Excellence-in-Teaching Award for Graduate and Professional Teaching (one winner selected in the College of Business) , 2011


Selected the Best Professor in a Large Elective Course for the Master of Science in Finance Program (for Corporate Finance course) , 2010


Selected the Best Professor in a Large Elective Course for the Master of Science in Finance Program (for Behavioral Finance course) , 2011


Nominated by the College of Business for the Campus Excellence in Graduate and Professional Teaching Award , 2011


Nominated by the College of Business for the Campus Excellence in Graduate and Professional Teaching Award , 2010


Runner-up for the Best Professor in a Large Elective Course for the Master of Science in Finance Program (for Corporate Finance course) , 2009


Associate Editor for special issue on behavioral economics and finance, Management Science , 2010


Best Paper Award from the Napa Conference on Financial Markets Research , 2010


Selected to List of Teachers Rated as Outstanding (awarded to top 10% of teachers), University of Illinois , 2013


Selected the Best Professor in a Large Elective Course for the Master of Science in Finance Program (for Corporate Finance course) , 2012


, BlackRock Reserach Award for Best Paper on Capital Markets/Fund Management/Mutual FundsAward at the 25th Annual Australasian Finance and Banking Conference , 2012


, Nominated by the College of Business for the University Scholars Award , 2013


Selected to List of Teachers Rated as Outstanding (awarded to top 10% of teachers), University of Illinois , 2012


Selected the Best First-Year Professor in the Executive MBA Program , 2013


Selected to List of Teachers Rated as Outstanding (awarded to top 10% of teachers), University of Illinois , 2014


, Best Paper Award from the Finance Down Under: Building on the Best from the Cellars of Finance conference , 2014


, Selected the Best Professor in the Full-Time MBA Program , 2014


Associate Editor, Management Science , 2014

 

Contact Information
4031 BIF
515 East Gregory Drive
Champaign IL 61820

(217) 333-0872
weisbenn@illinois.edu

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