Malcolm Baker
Encyclopedia
Scholar athlete
Baker began rowing at Brown UniversityBrown University
Brown University is a private, Ivy League university located in Providence, Rhode Island, United States. Founded in 1764 prior to American independence from the British Empire as the College in the English Colony of Rhode Island and Providence Plantations early in the reign of King George III ,...
and as a Freshman was on a National Championship team. where he became the 1991 Outstanding Male Athlete. He also earned a bachelor's degree
Bachelor's degree
A bachelor's degree is usually an academic degree awarded for an undergraduate course or major that generally lasts for three or four years, but can range anywhere from two to six years depending on the region of the world...
in applied mathematics
Applied mathematics
Applied mathematics is a branch of mathematics that concerns itself with mathematical methods that are typically used in science, engineering, business, and industry. Thus, "applied mathematics" is a mathematical science with specialized knowledge...
and economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
at Brown in 1992. He raced for the United States National Rowing Team in the 1990 & 1991 World Championships and the 1992 Summer Olympics
1992 Summer Olympics
The 1992 Summer Olympic Games, officially known as the Games of the XXV Olympiad, were an international multi-sport event celebrated in Barcelona, Catalonia, Spain, in 1992. The International Olympic Committee voted in 1986 to separate the Summer and Winter Games, which had been held in the same...
. At the Olympics his eight-man team finished fourth. Baker earned a M.Phil. in finance from the University of Cambridge
University of Cambridge
The University of Cambridge is a public research university located in Cambridge, United Kingdom. It is the second-oldest university in both the United Kingdom and the English-speaking world , and the seventh-oldest globally...
in 1993, and a Ph.D.
Ph.D.
A Ph.D. is a Doctor of Philosophy, an academic degree.Ph.D. may also refer to:* Ph.D. , a 1980s British group*Piled Higher and Deeper, a web comic strip*PhD: Phantasy Degree, a Korean comic series* PhD Docbook renderer, an XML renderer...
in
business economics
Business economics
Business economics as a field in applied economics uses economic theory and quantitative methods to analyze business enterprises and the factors contributing to the diversity of organizational structures and the relationships of firms with labour, capital and product markets...
from Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
in 2000. At Cambridge, he helped the crew team defeat University of Oxford
University of Oxford
The University of Oxford is a university located in Oxford, United Kingdom. It is the second-oldest surviving university in the world and the oldest in the English-speaking world. Although its exact date of foundation is unclear, there is evidence of teaching as far back as 1096...
for only the second time in eighteen contests.
Professional career
Prior to graduate study he was a senior associate at Charles River Associates, and during graduate study he served as a teaching fellow at Harvard University. He has been on the faculty at the Harvard Business SchoolHarvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
since earning his Ph.D. in 2000. As a professor he has written numerous case studies and has been widely published. He now serves as associate editor for the Journal of Finance
Journal of Finance
The Journal of Finance is a peer-reviewed academic journal published by Wiley-Blackwell on behalf of the American Finance Association. It was established in 1946. Its current editors are Campbell R. Harvey and John R. Graham...
and the Review of Financial Studies
Review of Financial Studies
The Review of Financial Studies is an academic journal published by Oxford University Press on behalf of the Society for Financial Studies. It was established following discussions at the 1986 Western Finance Association meetings, and the first issue was published in 1988...
. During his career he has been a three-time Brattle Prize
Brattle Prize
The Brattle Prize is an annual prize given to authors with the best corporate finance research papers published in the Journal of Finance.-Details:Each year the associate editors of the Journal of Finance award five papers for excellence...
nominee and a two-time Smith Breeden Prize
Smith Breeden Prize
The Smith Breeden Prize is an annual prize given to authors with the best finance research papers published in the Journal of Finance in any area other than corporate finance.-The Award:...
nominee. In 2002, "Market Timing and Capital Structure" (co-authored with Jeffrey Wurgler) was recognized with the Brattle Prize by the American Finance Association
American Finance Association
The American Finance Association is an academic organization whose focus is the study and promotion of knowledge of financial economics. It was formed in 1939...
as the best corporate finance
Corporate finance
Corporate finance is the area of finance dealing with monetary decisions that business enterprises make and the tools and analysis used to make these decisions. The primary goal of corporate finance is to maximize shareholder value while managing the firm's financial risks...
research
Research
Research can be defined as the scientific search for knowledge, or as any systematic investigation, to establish novel facts, solve new or existing problems, prove new ideas, or develop new theories, usually using a scientific method...
paper published in the Journal of Finance that year. In that same year, he and co-author Jeremy Stein, attributed low abnormal returns
Abnormal returns
In finance, an abnormal return is the difference between the actual return of a security and the expected return. Abnormal returns are sometimes triggered by "events." Events can include mergers, dividend announcements, company earning announcements, interest rate increases, lawsuits, etc. all...
following high liquidity to the "dumb investor effect." Baker also serves as a faculty research fellow in the corporate finance program at the National Bureau of Economic Research
National Bureau of Economic Research
The National Bureau of Economic Research is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." The NBER is well known for providing start and end...
. He has served as an independent director of Board of Directors of TAL International Group, Inc. and of each of its US subsidiaries since September 12, 2006, and he is a consultant for Acadian Asset Management
Acadian Asset Management
Acadian Asset Management LLC, known as Acadian Asset Management until 31 December 2007, is a company in the financial services industry. It is a global equity manager; its clients include institutions such as public and private pension plans, governments, foundations and private individuals...
.