Robust US Innovation Is Rooted in Legal History
A Q&A with Chicago Booth’s Robert W. Vishny on the legacy of the common-law tradition.
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Biography
Robert Vishny’s area of expertise is behavioral and institutional finance. He currently teaches a course titled Behavioral and Institutional Finance. Vishny previously taught Cases in Financial Management and Corporation Finance at Booth over a 20 year period while he held the titles of Assistant Professor through the Eric J. Gleacher Distinguished Service Professor of Finance.
Amongst the areas that Vishny studied in the past were the market for corporate control, corporate governance around the world, privatization and the role of government in the economy, investor sentiment, and the limits of arbitrage.
Past professional experiences for Vishny include Founding Partner of LSV Asset Management; Trustee of College Retirement Equity Fund (CREF); Director of Program in Corporate Finance, National Bureau of Economic Research; Director of American Finance Association; and Advisor of Russian Privatization Ministry.
Vishny earned an A.B. with highest distinction in economics, mathematics, and philosophy from the University of Michigan and a Ph.D. from Massachusetts Institute of Technology.
Research Interests
Behavioral and institutional finance; corporate governance around the world; political economy.
Academic Areas
- Finance
Selected Publications
With A. Shleifer, “Large Shareholders and Corporate Control,” Journal of Political Economy (1986).
With A. Shleifer, “The Limits of Arbitrage,” Journal of Finance (1997).
With A. Shleifer, “A Survey of Corporate Governance,” Journal of Finance (1997).
With R. La Porta, F. Lopez-de-Silanes, and A. Shleifer, “Law and Finance,” Journal of Political Economy (1998).
With A. Shleifer, “Unstable Banking,” Journal of Financial Economics (forthcoming).
2024 - 2025 Course Schedule
2025 - 2026 Course Schedule
Get Insights from Robert W. Vishny in Chicago Booth Review
How ‘Law and Finance’ Transformed Scholarship, Debate
“Law and Finance” became not only one of the most important papers in finance, but one of the most cited papers in social science overall.
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From 2002: A Phenomenon of the Market
Stock market-based mergers and acquisitions.
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