Gustavo Grullon

Jesse H. Jones Professor of Finance

Departments

Faculty

Office

McNair Hall 326

Contact 713-348-6138 grullon@rice.edu

Gustavo Grullon is a Professor of Finance. He received his B.B.A. in finance and economics from the University of Puerto Rico in 1991 and his Ph.D. in finance from Cornell University in 1998. He has been a faculty member at the Jones School since 1998. He currently teaches a course on mergers and acquisitions and a course on corporate financial policy in the MBA program and a corporate finance course in the Ph.D. program. Prof. Grullon’s research covers a wide range of topics in empirical corporate finance, such as how firms determine their investment, financing, and payout policies. His research also provides rational explanations to several documented anomalies in the asset-pricing literature, such as the closed-end fund discount, the tendency of investors to buy familiar stocks, the drastic increase in idiosyncratic risk during the internet boom, and the effect of managerial flexibility on firm value. His research has been published in the Journal of Finance, the Review of Financial Studies, the Journal of Financial Economics, the Journal of Business, the Journal of Financial and Quantitative Analysis, and the Journal of Financial Intermediation. His research has been featured in the Financial Times, the New York Times, the Washington Post, and the Wall Street Journal. He received the Jones School’s Award for Scholarship Excellence in 2006.

Teaching Interests:

Corporate financing
Mergers and acquisitions

Research Interests:

Empirical Corporate Finance
Empirical Asset Pricing
Corporate payout policy
Corporate financing policy
Corporate investment policy
Mergers and acquisitions
Market efficiency

Intellectual Contributions

Working Paper

Grullon, G., Hund, J., & Weston, J. (2013). A Granular Analysis of Corporate Investment. doi:10.2139/ssrn.2305349

Other

Grullon. "Comments on “The Effects of Taxes on Market Responses to Dividend Announcements and Payments: What Can We Learn from the 2003 Dividend Tax Cut?”" Cambridge University Press

Working Paper

Chhaochharia, V., Grinstein, Y., Grullon, G., & Michaely, R. (Working Paper, 2015). Product Market Competition and Internal Governance: Evidence from the Sarbanes Oxley Act. Management Science.

Working Paper

Grullon, G., Kanatas, G., & Weston, J. (Working Paper, 2009). Religion, Ethics, and Corporate Behavior.

Working Paper

Financial Studies, 28 (6), 1737-1767. doi:10.1093/rfs/hhv013

Working Paper

Grullon, G. & Michaely, R. (Working Paper, 2014). The Role of Product Market Competition on Firms’ Payout Policy.

Journal Article

Grullon, G., Underwood, S., & Weston, J.P. (2014). Comovement and investment banking networks. Journal of Financial Economics, 113(1), 79-89. doi:10.1016/j.jfineco.2014.02.010

Journal Article

Grullon, G., Lyandres, E., & Zhdanov, A. (2012). Real options, volatility, and stock returns. Journal of Finance, 67(4), 1499-1537. doi:10.1111/j.1540-6261.2012.01754

Journal Article

Grullon, G., Paye, B., Underwood, S., & Weston, J. P. (2011). Has the propensity to pay out declined? Journal of Financial and Quantitative Analysis, 46(1), 1-24. doi:10.1017/S0022109010000633