MAYA O.

SHATON

University of Chicago, Booth School of Business Phone: 224-420-1739
5807 S. Woodlawn Ave. Office 342 Email: mshaton@chicagobooth.edu
Chicago, IL 60637
EDUCATION
University of Chicago, Booth School of Business
Ph.D. in Finance, M.B.A. (Expected 2015) 2010-Present

Hebrew University
M.A. in Financial Economics, magna cum laude 2008-2010
B.A. in Economics & LL.B in Law, magna cum laude 2004-2008
Thesis: Behavioral Economic Analysis of the Proposed Israeli Contract Law Reform
Thesis: Antitrust in the New Economy

Brown University
Visiting Scholar in Economics part of B.A. in Economics 2007-2008
Thesis: Critical Analysis of the Israeli Banking System
RESEARCH INTERESTS
Household Finance, Corporate Finance, Behavioral Finance, Law and Finance
WORKING PAPERS AND RESEARCH IN PROGRESS
Information Display and Investor Behavior (working title)
In this paper I study whether and how the manner past performance information is presented to
households influences their investment-decisions. I exploit a natural experiment from Israel and a
unique dataset to identify the impact of changes in performance display on household-behavior. Holding
the accessible information-set constant, I find that funds flow sensitivity to past performance decreases
significantly as funds change their default performance measure from 1-month to 12-month return. My
empirical evidence suggests that households exhibit limited-attention and view as salient the noisier
information. Correspondingly, I observe that trading volume decrease by 30% for funds subject to the
regulation. Moreover, households tend to invest in riskier funds and funds with higher exposure to
equity. These results are consistent with models in which households exhibit limited attention and
myopic loss aversion.

Does the Judges Identity Matter to Firm Value and Creditor Payoffs in Bankruptcy? Evidence from
Bond Markets and Pink Sheets" (working title)
with E. Morrison

Adjusting Distress Costs Through Credit Agreements: Evidence from Covenant Lite Loans (working
title)
with D. Smith and E. Morrison
HONORS AND AWARDS
The University of Chicago Booth Student Fellowship 2010 2014
AFA Ph.D. Travel Grant 2014
CRSP Summer Paper Award 2011
Merit Scholarship in Financial Economics 2008 2010
Sydney Frank Award for Excellent Achievements in Economics 2007 2008
(Full tuition and living expenses at Brown University)
Tabi Miller Award for Excellent Achievements in Law and Economics 2007
Winner of Hebrew University ICJ International Law Competition 2006
Deans List, Hebrew University 2004-2006
Deans Prize, Hebrew University Law School 2004-2006
CONFERENCE PRESENTATIONS
2014 University of Chicago, Booth School of Business Finance Brownbag Seminar
2014 London Business School, Ph.D. Trans-Atlantic Conference
2013 First Annual USC Marshall Ph.D. Conference in Finance
2013 Ninth Annual Whitebox Advisors Graduate Student Conference at Yale University
2013 University of Chicago, Booth School of Business Finance Brownbag Seminar
TEACHING EXPERIENCE
2008-2010 Hebrew University, Teaching Assistant: Microstructure (MBA & EMBA), Advanced Seminar in
Financial Economics (MA), Industrial Organization (MBA), Financial Systems (MBA), Law of
Corporations (Law School)
2006-2007 Hebrew University, Instructor for Non-Native Speakers
(Awarded special prize by the Board of Hebrew University Law School)
RESEARCH AND PROFESSIONAL EXPERIENCE
Research Assistant for J.B. Heaton 2013 2014
S. Horowitz & Co. Law Firm, International Transactions and Finance Department 2009 2010
Articulated Clerk (equivalent of first year associate in the US)
Research Assistant for Prof. Asaf Hamdani (joint work with Prof. Lucian Bebchuk) 2008 2009
Research Assistant for Prof. Eyal Zamir 2007
Freelance Journalist at Kol-Ha-Ir (Israeli newspaper) 2004
Reporter assigned to the Gaza Strip at Bamahane (IDF newspaper) 2002 2004
LANGUAGES
English Fluent; Hebrew Native Language; French Fluent
REFERENCES
Pietro Veronesi, University of Chicago, Booth School of Business 773-702-6348
pietro.veronesi@chicagobooth.edu

Richard Thaler, University of Chicago, Booth School of Business 773-702-5208
richard.thaler@chicagobooth.edu

Kelly Shue, University of Chicago, Booth School of Business 773-834-0046
Kelly.Shue@chicagobooth.edu
2012-2013 University of Chicago Booth, Teaching Assistant: Microeconomics (MBA), Corporate Finance
(EMBA), Financial Strategy (EMBA), Competitive Strategy (MBA), Advanced Corporate
Finance (MBA)