José Liberti

Senior Economic Research Fellow

Office of Economic and Risk Analysis

José María Liberti is a senior economic research fellow in the Office of Economic and Risk Analysis. He comes to the PCAOB from Kellogg School of Management, Northwestern University, where he is the Joseph Jr. and Carol Levy Chair in Entrepreneurship and Clinical Professor of Finance and William M. Scholl Professor of Finance at Kellstadt Graduate School of Business, DePaul University. He is also a research fellow of the European Banking Center. He also holds an affiliation with both the Heizer Center for Private Equity and Venture Capital, and the Center for Family Enterprises at Kellogg School of Management.

José María's research lies in the boundaries of corporate finance, financial intermediation and organizational economics. Part of his attention has been drawn to understand how incentives, allocation of authority and types of information are used in the actual decision-making process of individuals Recent work has examined the role rotation among agents as a mechanism to alleviate moral hazard in communication and how sharing on public information may impact coordination problems among borrowers. His work has been published at The Journal of Finance , The Review of Financial Studies, Journal of Financial Economics, Management Science and the Journal of Financial and Quantitative Analysis. José María received the Brattle Award (First Prize) for the best paper in corporate finance awarded annually by the American Finance Association. He has also received twice the Brattle Distinguished paper award.

Liberti was born in Buenos Aires, Argentina. He received a bachelor's and master's degree in economics from the Universidad de San Andrés (UdeSA), in Buenos Aires. He moved to the United States in 1998 and earned both a Masters and a PhD in Economics from The University of Chicago.  His professional experience includes working in Citibank N.A. as a Corporate Financial Advisor and in the Risk Management and Investment Banking Divisions in Buenos Aires and New York.