Mathijs van Dijk, born in Hoorn, the Netherlands, 1973. Ph.D. from Maastricht University, the Netherlands. Professor of Financial Markets at Rotterdam School of Management, Erasmus University Rotterdam.
Fellow (1 September 2015 – 30 June 2016)
The Social Value of Finance
What use is the financial system (banks, financial markets, supervisory agencies) for society? The aim of my research is to analyze how well financial systems in a large number of countries around the world fulfill their key economic and social functions, and how financial systems can be restructured to optimize their “social value”.
The global financial crisis has led to an intense debate about the functioning of the financial system. Developed countries face increasing pressure to curb the financial system. Less-developed countries yearn for more “inclusive finance” to especially small/medium enterprises and poor households. At NIAS, I will work on a cross-country study of two of the most important functions of the financial system: (1) the allocation of capital within the economy to its most productive use, and (2) helping households to cope with income shocks. The ultimate goal is to find out what constitutes a good financial system in terms of its contribution to society. My research will aid policy makers in both developed and developing countries to make better decisions about financial system architecture.
1) “Understanding Commonality in Liquidity Around the World” (with G. Andrew Karolyi and Kuan-Hui Lee), Journal of Financial Economics 105, 82-112, 2012.
2) “The Implied Cost of Capital: A New Approach” (with Kewei Hou and Yinglei Zhang), Journal of Accounting and Economics 53, 504-526, 2012.
3) “Corruption, Growth, and Governance: Private vs. State-Owned Firms in Vietnam” (with Thuy Thu Nguyen), Journal of Banking and Finance 36, 2935-2948, 2012.