Associate Professor | Soloman P. Lee Chair in Business Ethics
Finance
About
Adair Morse is Associate Professor of Finance at Berkeley Haas and a Fellow at the Berkeley Center for Law and Business. She holds a PhD in finance from the Ross School of Business at the University of Michigan and master’s degrees in statistics and agricultural economics from Purdue University. She began her career as an entrepreneur in Poland.
Morse has taught New Venture Finance, Global Entrepreneurial Finance, and Entrepreneurial Finance and Private Equity at Berkeley Haas and the University of Chicago’s Booth School of Business. Her research covers the areas of household finance, impact investing, entrepreneurship, corruption, and asset management. Recent work has been instrumental in redirecting the debate on tax reform in Greece. Her work on fraud helped to shape the bounty provisions in the Dodd Frank law of financial reform. A number of papers on household finance and corruption appear in the Journal of Finance and Journal of Financial Economics, where she has won, respectively, the Brattle Prize and the Jensen Prize (second prize) for the best paper in Corporate Finance.
Expertise and Research Interests
- Household Finance
- Entrepreneurship
- Corruption & Governance
- Asset Management
- Development
- Tax Policy in Greece
- Adair Morse, Anna Cieslak and Annette Vissing-Jorgensen. Stock Returns over the FOMC Cycle. Journal of Finance.
2018 - Adair Morse, Wei Wang and Serena Wu. Executive Lawyers: Gatekeepers or Strategic Officers. Journal of Law and Economics.
2016 - Adair Morse and Marianne Bertrand. Trickle-Down Consumption. Review of Economics and Statistics.
2016 - Adair Morse, Nikolaos Artavanis and Margarita Tsoutsoura. Measuring Income Tax Evasion using Bank Credit: Evidence from Greece. Quarterly Journal of Economics.
2016 - Adair Morse. Peer-to-Peer Crowdfunding: Information and the Potential for Disruption in Consumer Lending. Annual Review of Financial Economics.
2015 - Adair Morse, Vikram Nanda, and Amit Seru. Compensation Rigging by Powerful CEOs: A Reply and Cross-Sectional Evidence. Critical Finance Review.
2013
At Haas since 2012
2016 – present, Associate Professor of Finance, Haas School of Business
2013 – 2016, Assistant Professor of Finance, Haas School of Business
2012 – 2013, Visiting Assistant Professor of Finance, Haas School of Business
2012 – 2013, Associate Professor of Finance, Booth School of Business, University of Chicago
2007 – 2012, Assistant Professor of Finance, Booth School of Business, University of Chicago
- 2012 – present, Faculty Research Fellow, National Bureau of Economic
- 2012 – present, Small and Medium Enterprise Affiliate, Innovations for Poverty Action (IPA)
- 2012 – present, Member of Working Group on Behavioral Economics and Consumer Finance, Alfred P. Sloan Foundation and the Russell Sage Foundation
New Zealand Finance Meeting – 2nd Best Paper
2018
RAFI Best Paper Award for ESG
2018
Runner-up
The RAFI Best Paper Award for ESG-related research, sponsored by RAFI Indices, LLC, recognizes creative and impactful research that advances the investment industry’s understanding of the Environmental, Social, and Governance (ESG) criteria utilized in sustainable, responsible, and impact investing strategies.
European Finance Association Prize
2012
CommonFund Best Paper relevant to Endowment and Foundation Asset Management
Journal of Financial Economics Jensen Prize for Corporate Finance and Organizations
2009
Winner of 2nd Prize
- Environmental, Social, And Governance: Why Corporations’ Responses To George Floyd Protests Matter, S&P Global Ratings, 07/23/2020
- Bay Area group raising $1 billion for small businesses hurt by virus, theft, curfews, Los Angeles Times, 06/05/2020
- City of Berkeley announces loan fund to support small businesses, Daily Californian, 04/18/2020
- This Is What Racism Sounds Like in the Banking Industry, New York Times, 12/11/2019
- Apple’s credit card may discriminate, just like lots of banking algorithms, Marketplace, 11/12/2019
- Bad, biased, and unethical uses of AI, The Enterprisers Project, 08/29/2019
- Can algorithms be racist? Trump’s housing department says no, Reveal, 08/05/2019
- Sustainable finance goes to business school, Wall Street journal, 06/10/2019
- Berkeley Haas’s Morse: FinTech Also Practices Housing Discrimination, Poets & Quants, 05/06/2019
- Digital mortgages are here, but some buyers are hesitant to use them. Here’s what you should know., Chicago Tribune, 01/23/2019
- Say goodbye to all that paperwork: Digital mortgages have arrived, Washington Post, 01/17/2019
- Online lending hasn’t removed discrimination, study shows, CNBC, 11/27/2018
- How some algorithm lending programs discriminate against minorities, NPR Morning Edition, 11/24/2018
- A little oil, a little Brexit and some puppets, Marketplace, 11/16/2018
- Even machines are discriminating against black and Latino homebuyers, Washington Post, 11/15/2018
- Courses, Global Entrepreneurial Finance
Entrepreneurial Finance and Private Equity