Leonardo Madureira

Kenneth Walter Haber Professorship
Weatherhead School of Management
Department of Banking & Finance
Weatherhead School of Management

Native fluency in Portuguese, fluency in English, some fluency in Spanish

Initially Appointed: 2005

Curriculum Vita

Teaching Information

Teaching Interests

  • Corporate Finance
  • Financial Markets and Institutions
  • Financial Econometrics
  • Empirical Asset Pricing

Course evaluation ratings (login required)

Courses Taught

Empirical Analysis in Finance
Empirical Finance
Financial Orientation
Financial Econometrics

Research Information

Research Interests

  • Corporate Finance
  • Market Microstructure
  • Empirical Asset Pricing

Awards and Honors

Deborah and David Daberko Fellowship
Weatherhead School of Management
Lewis-Progressive Fellow
Case Western Reserve University


  • Madureira, L. , Ellis, J. , Underwood, S. (2020).
    The Causal Effects of Proximity on Investment: Evidence from Flight Introductions (vol. 55, issue 6, pp. 1978-2004)  Journal of Financial and Quantitative Analysis
  • Madureira, L. , Kadan, O. , Zach, T. , Wang, R. (2020).
    Sell-Side Benchmarks (vol. 95, issue 1, pp. 211-232)  The Accounting Review
  • Madureira, L. , Cooney, Jr, J. , Singh, A. , Yang, K. (2015).
    Social Ties and IPO Outcomes (vol. 33, )  Journal of Corporate Finance
  • Madureira, L. , Ergungor, E. , Singh, A. , Nayar, N. (2015).
    Lending Relationships and Analysts' Forecasts (vol. 24, issue 1)  Journal of Financial Intermediation
  • Madureira, L. , Kadan, O. , Zach, T. , Wang, R. (2012).
    Analyst's Industry Expertise (vol. 54, issue 2-3, pp. 95-120)  Journal of Accounting & Economics
  • Madureira, L. , Anand, A. , Gatchev, V. , Pirinsky, C. , Underwood, S. (2011).
    Geography and Price Discovery: Evidence from Nasdaq (vol. 14, issue 22, pp. 193-226) Journal of Financial Markets
  • Madureira, L. , Kadan, O. , Zach, T. , Wang, R. (2009).
    Conflicts of Interest and Stock Recommendations: Evidence from the Global Settlement and Related Regulations (vol. 22, issue 10, pp. 4189-4217)  Review of Financial Studies
  • Madureira, L. , Underwood, S. (2008).
    Information, Sell-Side Research, and Market Making (vol. 90, issue 2, pp. 105-126)  Journal of Financial Economics
  • Madureira, L. , Gomes, A. , Gorton, G. (2007).
    SEC Regulation Fair Disclosure, Information and the Cost of Capital  (vol. 13, issue 2-3, pp. 300-334)  Journal of Corporate Finance
  • Madureira, L. (2007).
    Ex Ante Real Rate and Inflation Premium Under Habit Consumption Model  (vol. 14, issue 3, pp. 355-288) Journal of Empirical Finance


  • Madureira, L. (Presenter & Author)  Finance Seminar, "What Are Analysts Really Good At?", Case Western Reserve University, (2014).
  • Madureira, L. (Author Only)  26th Australasian Finance and Banking Conference, "What Are Analysts Really Good At?", Institute of Global Finance and School of Banking & Finance at the Australian School of Business at UNSW, Sydney. (2013).
  • Madureira, L. (Author Only), , O. K. (Presenter & Author)  24th Annual Conference on Financial Economics and Accounting, UNC, "What Are Analysts Really Good At?", Financial Economics and Accounting, UNC, Chapel Hill. (2013).
  • Madureira, L. (Presenter & Author)  European Finance Association Conference, "Banking Relationships and Sell Side Research", European Finance Association, Cambridge, UK. (2013).
  • Madureira, L. (Author Only)  American Finance Association Conference, "Stock Picking, Industry Picking, and Market Timing in Sell-Side Research", American Finance Association, San Diego. (2013).
  • Madureira, L. (Presenter & Author)  JAE Conference, Wharton School, "Analysts' Industry Expertise", The Wharton School, University of Pennsylvania, Philadelphia, PA. (2011).


University of Pennsylvania
Master of Arts
University of Pennsylvania
Master of Business Administration
Pontifical Catholic University
Bachelor of Science
Federal University of Rio de Janeiro