Simon Business School
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Faculty Profile

Erin E. Smith
Assistant Professor
Phone: 585.275.0269
Office: 3-141 Carol Simon Hall

Research Interests

Corporate Governance, Bankruptcy and Distress, Financial Regulation, Entrepreneurial Finance

Professional History

Assistant Professor
University of Rochester, Simon Business School
July 2014 -

Education

New York University Stern School of Business - 2013
Ph D
Finance
Dartmouth College - 2007
BA
Engineering, Economics

Current Research Programs

Syndicated Equity Crowdfunding: The Trade-Off between Deal Access and Conflicts of Interest
The Value of Antitakeover Provisions in the Post-SOX Era
I estimate the value of antitakeover provisions (ATPs) in the post-Sarbanes-Oxley environment of shareholder activism. I identify the impact of ATPs on shareholder value using regression discontinuity of shareholder votes. However, regression discontinuity estimates may be biased if interested parties manipulate vote outcomes. Accordingly, I exploit exogenous variation in vote passage likelihood from "over-votes", the extra illegitimate votes generated from securities lending. Because passage requires support from a majority of outstanding shares, over-votes increase passage likelihood. I find that post-SOX ATP adoptions increased shareholder value by 3%. This finding contrasts with studies of ATPs adopted in the pre-SOX era.
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