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Purdue University

 Krannert Graduate School of Management
Mihai Ion

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About Me

Welcome, and thank you for visiting my web page! I recently completed my PhD in Finance at Purdue University's Krannert School of Management and I am currently a Visiting Instructor at the same institution.

My research interests are related to the cross-sectional predictability of stock returns and to the effect of policy uncertainty on the real economy. In my paper on “Asset Pricing Anomalies and Time-Varying Expected Returns”, I use a regime-switching model to estimate the joint distribution of the returns from several well cited asset pricing anomalies. I find that, consistent with risk explanations, many anomalies exhibit significantly countercyclical expected returns. In two co-authored papers, I investigate the effect of policy uncertainty on the capital investment decisions of U.S. firms, and on the international trade patterns of nine major economies. I find that policy uncertainty has a strong negative impact on capital investments, and that this relationship depends significantly on industry competitiveness, investment irreversibility and financial constraints. Additionally, I find that policy uncertainty has a negative impact on trade values, both in terms of the number of products exported and the value of exports per product.

During my time at Purdue University I have had the opportunity to teach three upper-level undergraduate courses. As a graduate student, I taught “Investment Management” and “Financial Markets and Institutions” and received Krannert teaching awards for each of those courses. As a Visiting Instructor, I am currently teaching two sections of our “Financial Management” course and I am scheduled to do the same during the spring semester.

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