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	Shmuel Baruch<span> </span></p>
<p>
	&nbsp;</p>
<p>
	University of Rome, Tor Vergata<span> </span>&nbsp; <span> </span>Email: Shmuel.Baruch@uniroma2.it</p>
<p>
	Department of Economics and Finance<span> </span></p>
<p>
	Via Columbia 2<span> </span> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</p>
<p>
	Rome, 00133, Italy <span> </span>&nbsp; &nbsp;</p>
<p>
	&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	Employment</p>
<p>
	Professor of Finance (with Tenure), University of Rome, Tor Vergata 2020-present</p>
<p>
	Professor of Finance (with Tenure), University of Utah 2017-2020</p>
<p>
	Associate Professor of Finance (with Tenure), University of Utah 2007-2017</p>
<p>
	Sabbatical Leave at Columbia University (2012-2013)&nbsp;</p>
<p>
	Associate Professor of Finance (with Tenure), Technion, Israel Institute of Technology (2009)</p>
<p>
	Visiting Assistant Professor of Finance, Princeton University 2005-2006</p>
<p>
	Assistant Professor of Finance, University of Utah 1999- 2005</p>
<p>
	Assistant Professor of Finance, London Business School 1998-1999</p>
<p>
	&nbsp;</p>
<p>
	Education</p>
<p>
	&nbsp;</p>
<p>
	Ph.D.<span> </span>Finance<span> </span></p>
<p>
	Olin School of Business, Washington University in St. Louis, 1998</p>
<p>
	M.Sc.<span> </span>Theoretical Mathematics, M.Sc. Thesis in Mathematical Economics</p>
<p>
	The Weizmann Institute of Science, Israel, 1992</p>
<p>
	Awarded Weizmann Institute prize for M.Sc. thesis</p>
<p>
	B.A. (Cum Laude) Mathematics and Computer Science<span> </span>&nbsp;</p>
<p>
	The University of Haifa, Israel, 1990</p>
<p>
	&nbsp;</p>
<p>
	Publications</p>
<p>
	&nbsp;</p>
<p>
	Baruch S. and X. Zhang (2022) "The Distortion in Prices due to Index Investing,&rdquo; Management Science, Vol 68, 6219-6234.&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	Baruch S. and L. Glosten (2019) &ldquo;Tail Expectation and Imperfect Competition in Limit Order Book Markets&rdquo; Journal of Economic Theory, vol 183, 661-697.&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	Baruch S., M. Panayides, and K. Venkataraman&nbsp; (2017) &ldquo;Informed Trading before Corporate Events: Theory and Evidence&rdquo; Journal of Financial Economics col. 125, issue 3, 561-588</p>
<p>
	&nbsp;</p>
<p>
	Back, K. and S. Baruch (2013) "Strategic Liquidity Provision in Limit Order Markets," Econometrica, 81, 363-392.</p>
<p>
	&nbsp;</p>
<p>
	Back, K, and S. Baruch (2010) &ldquo;Kyle Model," in Encyclopedia of Quantitative Finance, Wiley.</p>
<p>
	&nbsp;</p>
<p>
	Baruch S. and G. Saar (2009) &ldquo;Asset Returns and the Listing Choice of Firms,&rdquo; Review of Financial Studies 22, 2239-2274.</p>
<p>
	&nbsp;</p>
<p>
	Baruch S., A. Karolyi, and M. Lemmon (2007) &ldquo;Multi-Market Trading and Liquidity: Theory and Evidence,&rdquo; Journal of Finance vol 62, no. 5, 2169-2200.</p>
<p>
	&nbsp;</p>
<p>
	Back, K. and S. Baruch (2007) &ldquo;Working Orders in Limit-Order Markets and Floor Exchanges,&rdquo; Journal of Finance. vol. 62, no. 4, 1589-1621.</p>
<p>
	&nbsp;</p>
<p>
	Baruch, S. (2005) &ldquo;Who Benefits from an Open Limit-Order Book?&rdquo; Journal of Business, vol. 78, no. 4, 1267-1306.&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	Back, K. and S. Baruch (2004) &ldquo;Information in Securities Markets: Kyle Meets Glosten and Milgrom,&rdquo; Econometrica, 72, 433-465.</p>
<p>
	&nbsp;</p>
<p>
	Baruch, S. (2002) &ldquo;Insider Trading and Risk Aversion,&rdquo; Journal of Financial Markets, 5, 451-464.</p>
<p>
	&nbsp;</p>
<p>
	Baruch, S. and Y. Kannai (2001), &ldquo;Inferior Goods, Giffen Goods, and Shochu,&rdquo; In G. Debreu, W. Neuefeind and W. Trockel, eds., Economics Essays: A Festschrift for Werner Hildenbrand. Heidelberg, Springer-Verlag, 9-17.</p>
<p>
	&nbsp;</p>
<p>
	Working&nbsp; Papers</p>
<p>
	&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	Baruch, Saar, and Zhang (2015) &ldquo;News, Influence, and the Evolution of Prices in Financial Markets&rdquo;</p>
<p>
	&nbsp;</p>
<p>
	Work in Progress</p>
<p>
	&nbsp;</p>
<p>
	Baruch S., H. J. Kim, and C. Yung (2022) &ldquo;An Equilibrium Model of Venture Capital Financing&rdquo;</p>
<p>
	Baruch S. and Yan (Julian) Zhang (2021) &ldquo;K10 and Textual Analysis&rdquo;<span>&nbsp;</span></p>
<p>
	&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	Research Awards&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	The paper &ldquo;Informed Trading before Corporate Events: Theory and Evidence&rdquo; was awarded the Best Paper Award, Multinational Finance Society Spring Conference, April 2015</p>
<p>
	&nbsp;</p>
<p>
	PhD Students&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	Xiaodi (Eddie) Zhang (graduation year 2015, placement University of Central Florida)</p>
<p>
	Julian Zhang (graduation year 2017, placement Loyola Marymount University, California)</p>
<p>
	&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	Seminars and Conferences (January 2014 - 2022)&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	Seminars: University of Virginia (2014), Toronto (2014), SAIF (Shanghai, 2014), City University (Hong Kong, 2014), HKU (Hong Konf, 2014), Bocconi (Italy, 2014), Utah (Department of Mathematics, 2014), Minnesota (2014), John Hopkins (2015), Memphis (April 2015), HEC Paris (May 2015), Amsterdam (May 2015), Central Florida (2016), Imperial College London (Fall 2016), Manchester (Fall 2016), Warwick (Fall 2016, Torino Italy (Fall 2016), Utah - finance (Spring 2017), Utah - math (Spring 2017), SEC (fall 2017), BYU (Fall 2017), Baruch College (Fall 2017), Siena (Fall 2017), NBER (Long Term Asset Management) (Spring 2018), EFMA (Summer 2018), Bergamo (Summer 2019), Zurich (Fall 2019), Roma Tor-Vergata (Fall 2019), Hebrew University (2021), EIEF Rome (Spring 2022), Verona (Fall 2022).</p>
<p>
	&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	Conferences (All conferences in this list were by invitation, 2014-2022): Big data Conference (co-author presented), NYU Five Star Conference (Invited, December 2014, co-author presented),</p>
<p>
	Financial Risks and Their Management (March 2015, Kyoto), SAET Conference on Current Trends in Economics, (July 2015, Cambridge, UK), PANORisk (a plenary session speaker, 2021, Le Mans, France) &nbsp; &nbsp;</p>
<p>
	&nbsp;</p>
<p>
	Other Professional Activities</p>
<p>
	&nbsp;</p>
<p>
	Associate Editor</p>
<p>
	&nbsp;</p>
<p>
	Journal of Financial Markets</p>
<p>
	&nbsp;</p>
<p>
	Referee</p>
<p>
	Econometrica, American Economic Review, Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Review of Finance, Journal of Finance and Quantitative Analysis, Journal of Financial Markets, Journal of Financial Intermediation, Finance and Stochastics, Princeton University Press, Oxford University Press, Journal of Economic Theory, Management Science, Review of Financial Economics, Journal of Economic Dynamics &amp; Control, EFA (conference)</p>
<p>
	&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	Reviewer for Research Funds:&nbsp; National Science Foundation, Israel Science Fund, Austrian Science Fund, Earmarked Research Grant (Hong Kong), Marsden Fund (New Zealand)</p>
<p>
	&nbsp;</p>
<p>
	Session Chair: WFA 2014, EFMA 2018</p>
<p>
	&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	Teaching Experience&nbsp;</p>
<p>
	&nbsp;</p>
<p>
	Asset Pricing (Rome)</p>
<p>
	Investment (Utah)</p>
<p>
	Trading and Securities Markets (Utah, Princeton University, Technion)</p>
<p>
	International Finance (Utah, Columbia University)</p>
<p>
	CFA class (Utah)</p>
<p>
	Introduction to Corporate Finance (Washington University in St. Louis, London Business School, Utah, Princeton University)</p>
<p>
	Derivative Securities (Washington University in St. Louis)</p>
<p>
	PhD seminar in Asset Pricing (London Business School, Utah)</p>
<p>
	&nbsp;</p>
<p>
	Teaching Awards</p>
<p>
	Outstanding Teaching Award, Finance Department University of Utah, 2003.</p>
<p>
	Teaching Award, Technion, 2009</p></document> a:0:{}"
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