Matthew Gustafson

Assistant Professor of Finance
Department: Finance
Office: 335 Business Building
Phone: 814-867-4042
Member of Faculty Since: 2013


Matthew's research primarily focuses on how corporations interact with the capital markets and financial intermediaries. His work has been accepted for publication at journals such as The Journal of Financial Economics, The Journal of Public Economics, The Journal of Accounting and Economics, Management Science, and The Journal of Financial and Quantitative Analysis. In addition, he has presented his work at top finance and economics conferences such as, the American, Western, and European Finance Associations and the American Economic Association Annual Meetings.

Matthew earned his PhD from the William E. Simon Graduate School of Business at the University of Rochester in June of 2013.  While at the Simon School, he taught two core MBA finance classes and was named to the Simon School Teaching Honor Roll. Matthew graduated from Swarthmore College in 2005 with a degree in economics. Before beginning his doctoral studies in 2008 he worked at a financial consulting company, obtained an M.S. in Applied Statistics from Villanova University, and coached basketball at Swarthmore where he had been team captain in 2005.


Corporate Finance, Securities Issuance, Financial Regulation, Financial Intermediation, Labor Economics

Publication List

Michael Dambra, Laura Field, Matthew Gustafson, and Kevin Pisciotta, "The Consequences to Analyst Involvement in the IPO Process: Evidence Surrounding the JOBS Act", Journal of Accounting and Economics, Accepted.

Charles Cao, Matthew Gustafson, and Raisa Velthuis, "Index Membership and Small Firm Financing", Management Science, Accepted.

Matthew Gustafson, "Price Pressure and Overnight Seasoned Equity Offerings", The Journal of Financial and Quantitative Analysis, Accepted.

Matthew Gustafson and Peter Iliev, "The Effects of Removing Barriers to Equity Issuance", The Journal of Financial Economics, June 2017, p.580-598.

Matthew Gustafson, "The Market Sensitivity of Retirement and Defined Contribution Pensions: Evidence from the Public Sector", The Journal of Public Economics, January 2017, p. 1-13.

Michael Dambra, Laura Field, and Matthew Gustafson, "The JOBS Act and IPO Volume: Evidence that Disclosure Costs Affect the IPO Decision", The Journal of Financial Economics, April 2015, p. 121-143.

Matthew Gustafson, Ivan Ivanov, and John Ritter, "Financial Condition and Product Market Coopertation", Journal of Corporate Finance, April 2015, p. 1-16.

Media Mention

JOBS Act Rewards U.S. Exchanges Amid Surge of Criticism,

On the IPO On-Ramp,  CFO Magazine

JOBS Act Fuels IPO Boom,

The Effect of Short-term Liquidity and Capacity Constraints on Industry Cooperation,  The Harvard Law School Forum on Corporate Governance and Financial Regulation

Here's when to expect Snap 'Buy' recommendations,  Yahoo Finance


Ph.D., Finance, William E. Simon Graduate School of Business, University of Rochester, 2013

MS, Applied Statistics, Villanova University, 2008

BA, Economics, Swarthmore College, 2005


FIN 305W, Financial Management of the Business Enterprise