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Mila Getmansky Sherman

Fuller and Meehan Endowed Professor of Finance

Finance
Mila Getmansky Sherman is Fuller and Meehan Endowed Professor of Finance at the Isenberg School of Management at UMass Amherst. Getmansky Sherman's research specializes in empirical asset pricing, hed

Mila Getmansky Sherman is Fuller and Meehan Endowed Professor of Finance at the Isenberg School of Management at UMass Amherst. Getmansky Sherman's research specializes in empirical asset pricing, hedge funds, performance of investment trading strategies, financial institutions, systemic risk, ecological finance, ESG, gender in finance, and system dynamics. She received a BS in Chemical Engineering and minor in Economics from MIT and a PhD in Management from the MIT Sloan School of Management. She was a post-doctoral fellow at the MIT Lab for Financial Engineering before joining UMass Amherst. Getmansky Sherman is an associate director of the Center for International Securities and Derivatives Markets (CISDM) at UMass Amherst whose goal is to facilitate research in international investment and derivative markets, and promote interactions between the academic and business communities. Her work has been published in several journals including the Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Financial Analysts Journal, Environmental Research Communications, and the Journal of Investment Management

Getmansky Sherman has participated in numerous conference organizing committees including the American Finance Association, Western Finance Association, Financial Management Association, SFS Cavalcade, and the European Financial Association. Getmansky Sherman has served as the editor of the Journal of Alternative Investments and Associate Editor of Data Science in Science and Quarterly Journal of Finance. She is a recipient of numerous awards and grants from the Q-Group, National Bureau of Economic Research, Inquire-Europe, and National Science Foundation, and a recipient of the College Outstanding Research Award. Before joining UMass Amherst, Getmansky Sherman worked in the quantitative research group at the Deutsche Asset Management in New York. Getmansky Sherman teaches courses in corporate finance, financial modeling, and alternative investments in MBA, Masters of Finance and undergraduate programs. She has had numerous government appointments and affiliations being a Visiting Scholar at the U.S. Securities and Exchange Commission (SEC) and the Board of Governors of the Federal Reserve System. She was a contractor at the U.S. Commodity Futures Trading Commission (CFTC) and an Expert Financial Economist with the SEC. She is currently on the Managed Funds Association (MFA) academic advisory council and is on the AIF Global Academic board.  

Education

PhD, Massachusetts Institute of Technology, 2004
BS, Massachusetts Institute of Technology, 1998

Professional Experience

Editor, Journal of Alternative Investments, 2013-Present
Associate Editor, Data Science in Science, 2021-Present
Expert Financial Economist, U.S. Securities and Exchange Commission (SEC), Apr 2015-Apr 2017
Deutsche Asset Management, Quantitative Research Group, New York, NY, 2000

Academic Appointments

Professor of Finance (tenured) Isenberg School of Management, UMass Amherst, 2018-Present
Associate Professor of Finance (tenured), Isenberg School of Management, UMass Amherst, 2011-2018
Visiting Scholar, MIT Sloan School of Management, 1/12-8/12
Assistant Professor of Finance, Isenberg School of Management, UMass Amherst, 2004-2011
Post-Doctoral Fellow, Laboratory for Financial Engineering, Department of Finance, MIT Sloan School of Management, 5/04-9/04
Awards, Honors, and RecognitionBest Paper Award, the Society for Financial Studies and the Review of Asset Pricing Studies, 2025 Fuller and Meehan Endowed Professor of Finance, 2024 Teaching

Awards, Honors, and Recognition

  • Best Paper Award, the Society for Financial Studies and the Review of Asset Pricing Studies, 2025 
  • Fuller and Meehan Endowed Professor of Finance, 2024 
  • Teaching Excellence Award, Isenberg School of Management, 2024 
  • Faculty Research Excellence Award, Isenberg School of Management, 2022 
  • Judith Wilkinson O’Connell Faculty Fellow, 2021-present 
  • VentureWell Grant, Triggering Innovation with Case Studies on Core STEM & Business Principles ($30,000) Award #23729-21 
  • NSF Collaborative Research: Predictive Risk Investigation SysteM (PRISM) for Multi-layer Dynamic Interconnection Analysis, 2019-2024 ($260,925) Award #1940223 
  • UMASS NSF ADVANCE Faculty Fellow, 2020-2021 
  • UMASS ADVANCE Mentoring Award, 2020-2021 
  • NSF Digging into High Frequency Data:  Present and Future Risks and Opportunities, 2017-2021 ($196,518) Award #1733942 
  • Faculty Research Excellence Award, Isenberg School of Management, 2020 

Research Interests

Empirical asset pricing
Hedge funds
Sustainable finance
ESG
Systemic risk
Financial crises
Women in finance
Financial institutions
Investments
Financial econometrics
System dynamics
Liquidity
Mutual funds

Teaching Interests

Masters
  • Alternative investments
Undergraduate
  • International finance
  • Alternative Investments
  • Financial Modeling
Media, Industry, and Public ImpactWall Street Journal, 2023 Tearing Down the Pink Wall Panel, 2023 Bloomberg, April, 2020 TEDx Easthampton Women Talk, 2019 Bloomberg TV, August, 20

Media, Industry, and Public Impact

Wall Street Journal, 2023 

Tearing Down the Pink Wall Panel, 2023 

Bloomberg, April, 2020 

TEDx Easthampton Women Talk, 2019 

Bloomberg TV, August, 2015

Selected Working Papers / Current Research1.  Market Impact of Government Communication:  The Case of Presidential Tweets Farshid Abdi, Emily Kormanyos, Loriana Pelizzon, and Mila Getma

Selected Working Papers / Current Research

1.  Market Impact of Government Communication:  The Case of Presidential Tweets 

Farshid Abdi, Emily Kormanyos, Loriana Pelizzon, and Mila Getmansky Sherman, 2025 (Management Science, under review) 

 

2.  Global Realignment in Financial Market Dynamics:  Evidence from ETF Networks 

Abalfazl Zareei, Monica Billio, Andrew Lo, Loriana Pelizzon, and Mila Getmansky Sherman, 2025  

(Journal of Financial and Quantitative Analysis, under review) 

 

3.  Are the Hedges of Funds Green? 

Huan Kuang, Bing Liang, Tianyi Qu, and Mila Getmansky Sherman, 2025  

(Review of Financial Studies, under review) 

 

4.  Sustainable Short Selling 

Bing Liang, Loriana Pelizzon, Tianyi Qu, and Mila Getmansky Sherman, 2025  

Selected Publications

1.  Loss Sharing in Central Clearinghouses:  Winners and Losers 

Review of Asset Pricing Studies, 14 (2), pp. 237-273 (2024) 

Christian Kubitza, Loriana Pelizzon, and Mila Getmansky Sherman 

 2. Addressing the Embeddability Problem in Transition Rate Estimation  

Journal of Physical Chemistry A, 127(27), pp.5745-5759 (2023) 

Curtis Goolsby, James Losey, Ashkan Fakharzadeh, Yuchen Xu, Marie-Christine Duker, Mila Getmansky Sherman, David S. Matteson, and Mahmoud Moradi 

https://doi.org/10.1021/acs.jpca.3c01367 

 

3. Role of Variable Renewable Energy Penetration on Electricity Price and its Volatility across Independent System Operators in the United States  

Data Science in Science, 2 (1), (2023) 

Olukunle O. Owolabi, Toryn L.J. Schafer, Georgia E. Smits, Sanhita Sengupta, Sean E. Ryan, Lan Wang, David S. Matteson, Mila Getmansky Sherman, and Deborah A. Sunter 

4.  Female Representation in the Academic Finance Profession 

Journal of Finance 77(1), pp. 317-365 (2022) 

Mila Getmansky Sherman and Heather Tookes 

https://doi.org/10.1111/jofi.13094

 

5. A Robust Statistical Analysis of the Role of Hydropower on the System Electricity Price and Price Volatility  

Environmental Research Communications, 4 (7), (2022) 

 

6.  Recovery From Fast Crashes:  Role of Mutual Funds 

Journal of Financial Markets, 59 Part B (100646), (2022) 

Ravi Jagannathan, Loriana Pelizzon, Ernst Schaumburg, Mila Getmansky Sherman, and Darya Yuferova 

 

7.  Portfolio Similarity and Asset Liquidation in the Insurance Industry  

Journal of Financial Economics, 142 (1), pp. 69-96 (2021) 

Girardi Giulio, Kathleen W. Hanley, Stas Nikolova, Loriana Pelizzon, and Mila Getmansky Sherman 

 

8.  Hedge Funds and Primer Brokers:  Favorable IPO Allocations 

Journal of Portfolio Management, 47 (8), pp. 105-123 (2021) 

Hossein B. Kazemi, Mila Getmansky Sherman, and Xiaohui Yang 

 

9.  Critical Risk Indicators (CRIs) for the Electric Power Grid:  A Survey and Discussion of Interconnected Effects 

Environment Systems and Decisions, 41, pp. 594-615 (2021) 

 

10.   Measuring Hedge Fund Liquidity Mismatch 

The Journal of Alternative Investments, 24 (1), pp. 26-42 (2021) 

George Aragon, Tolga Ergun, Giulio Girardi, and Mila Getmansky Sherman