معرفی
David Musto is the Ronald O. Perelman Professor in Finance at the University of Pennsylvania's Wharton School, where he has served on the faculty since 1995. He currently directs the Stevens Center for Innovation in Finance and teaches core finance courses including Capital Markets and Strategic Equity Finance across undergraduate, MBA, and executive programs.
Education
- PhD, University of Chicago, 1995
- BA, Yale University, 1987
Professor Musto's research centers on capital markets dynamics, consumer credit mechanisms, and financial intermediation structures. His work examines market liquidity during crises, predatory lending practices, and the contractual implementation of impact investing. He investigates how financial incentives interact with social goals and how market structures influence trading behavior, with particular focus on Treasury markets, short-selling constraints, and mortgage lending regulations.
His publications from 2008-2021 reveal consistent empirical analysis of market microstructure and credit markets. Key contributions include identifying illiquidity feedback loops in Treasury markets during the financial crisis, demonstrating how impact funds contractually integrate social goals without direct compensation ties, and analyzing how failing to deliver stock affects options pricing. His research bridges theoretical models with high-resolution market data across diverse financial instruments.
Scientific Awards
No scientific awards were mentioned in the provided text.
Advising and Grants
Professor Musto supervises independent study projects (FNCE8990) for finance students but specific advisees and grant details are not provided. His teaching portfolio includes capstone projects evaluating student loan offers and strategic equity financing decisions, reflecting applied research supervision without explicit grant disclosures.
Labs and Teams
As Director of the Stevens Center for Innovation in Finance, Professor Musto leads initiatives connecting academic research with industry practice. The Center develops financial education tools including an app created by teens for teens, and runs leadership programs for underrepresented Philadelphia high school students, fostering practical finance innovation through academic-industry collaboration.
