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Biography

Andrea Buffa is an Assistant Professor of Finance and Stone Family Faculty Scholar at the Leeds School of Business. Before joining the ¶¶Òõ´«Ã½ÔÚÏß, he was an Assistant Professor of Finance at Boston University. Andrea received his Ph.D. in Finance from the London Business School, and his M.Sc. in Finance and Economics from the London School of Economics.Ìý

Andrea’s research interests include asset pricing, institutional asset management, financial institutions, ESG investing, contract theory, and information economics. Andrea's work on the impact of asset management contracts on asset prices has received the attention of The Economist, the Financial Times, and Bloomberg Businessweek. His work on ESG funds has been featured by several online media outlets.Ìý

Andrea is the recipient of several awards, including the 2013 Best Young Researcher Award by the Multinational Finance Society, the 2015 SFS Cavalcade Award for the Best Paper in Asset Pricing by the Society for Financial Studies, and the 2024 Best Paper Award in Investments by the Financial Management Association.

Research

Research Areas of Interest

• Asset pricing
• Instiutional asset management
• ESG investing
• Contract theory
• Information economics

Selected Publications

• Buffa, Andrea M., Qing Liu, and Lucy White. 2025. Privacy and Team Incentives. The Journal of Finance, 80(6), 3443- 3497.
• Buffa, Andrea M. and Idan Hodor. 2023. Institutional Investors, Heterogeneous Benchmarks and the Comovement of Asset Prices. Journal of Financial Economics, 147(2), 352-381.
• Buffa, Andrea M., Dimitri Vayanos, and Paul Woolley. 2022. Asset Management Contracts and Equilibrium Prices. Journal of Political Economy, 130(12), 3146- 3201.
• Buffa, Andrea M. and Giovanna Nicodano. 2008. Should Insider Trading be Prohibited when Share Repurchases are Allowed?. Review of Finance, 12(4), 735-765.
• Buffa, Andrea M. 2004. Strategic Insider Trading with Imperfect Information: A Trading Volume Analysis. Rivista di Politica Economica, 94(6), 101-143.

Working Papers

• Abis, Simona, Andrea M. Buffa, and Meha Sadasivam. 2025. Different Shades of ESG Funds.
• Atmaz, Adem and Andrea M. Buffa. 2025. Volatility Disagreement and Asset Prices.
• Abis, Simona, Andrea M. Buffa, Apoorva Javadekar, and Anton Lines. 2022. Learning from Prospectuses.
• Buffa, Andrea M. and Apoorva Javadekar. 2022. A Signaling Theory of Mutual Fund Activeness.
• Buffa, Andrea M. and Apoorva Javadekar. 2022. Decomposing Fund Activeness.
• Basak, Suleyman and Andrea M. Buffa. 2019. A Theory of Model Sophistication and Operational Risk.
• Buffa, Andrea M. 2014. Systemic Risk Management.
• Buffa, Andrea M. 2014. Insider Trade Disclosure, Market Efficiency, and Liquidity.

Teaching

Andrea teaches courses in financial derivatives, corporate finance, and the theory of asset pricing across undergraduate and doctoral programs.

Media, Insights & News

• The Economist (2014).
• Financial Times (2014).
• . Bloomberg Businessweek (2014).
• ESG investing: Are your values truly reflected in your portfolio? CU ¶¶Òõ´«Ã½ÔÚÏß Today (2024).
• ESG Post (2024).