Six New Faculty Members Join Georgetown McDonough

August 30, 2011

Professors’ Specialties Include Accounting, Ethics, Finance, Marketing, and Strategy

This fall, six new full-time professors joined the faculty at Georgetown University’s McDonough School of Business.

The new faculty members are: Turan G. Bali, visiting professor of finance; Simon Blanchard, assistant professor of marketing; Jason Brennan, assistant professor of business ethics; Robert Davidson, assistant professor of accounting; Allison Koester, assistant professor of accounting; and Jay Shambaugh, visiting associate professor of strategy.

Turan G. Bali specializes in asset pricing, risk management, fixed income securities, and financial derivatives. A founding member of the Society for Financial Econometrics, he has worked on consulting projects sponsored by major financial institutions and government organizations in the United States and other countries. He currently serves as an associate editor for the Journal of Banking and Finance, The Journal of Futures Markets, The Journal of Portfolio Management, and The Journal of Risk, as well as an ad-hoc reviewer for more than 40 journals in economics, finance, statistics, and operations research.

Bali previously was the David Krell Chair Professor of Finance at the City University of New York’s Baruch College and Graduate School and University Center. He also has served on the review committees of the National Science Foundation, Research Grants Council of Hong Kong, Scientific and Technological Research Council of Turkey, and Social Sciences and Humanities Research Council of Canada. He holds a Ph.D. and an M.Phil in financial economics from the Graduate School and University Center of the City University of New York and a B.A. in economics from Bogazici University in Istanbul, Turkey.

Simon Blanchard’s research interests include the development of empirical and statistical models to understand the large amount of heterogeneity observed in consumers’ decision making processes. In his thesis, Blanchard proposed a new statistical methodology that can be used to illustrate how consumers simultaneously organize products and brands into a multitude of categories in ways that may not be intuitive to managers. In addition to giving invited presentations on his thesis and presenting at conferences, he has published articles in journals such as the Journal of Consumer Research and Computational Statistics and Data Analysis.

Before joining the faculty at Georgetown, Blanchard served as an instructor at Pennsylvania State University where he received the MacKenzie Teaching Award and numerous other college-wide and marketing department research awards. 

Originally from Canada, Blanchard is fluent in French and earned a B.B.A. in management of information systems from the Université de Sherbrooke and an M.Sc. in management science from the Université de Montréal (HEC Montréal). He holds a Ph.D. in marketing from Pennsylvania State University.

Jason Brennan’s philosophical work focuses on the ethical use of power, the purpose and value of economic prosperity, and the role of private, non-political activity in promoting the common good. He works primarily in democratic theory and the intersection of ethics, economics, and political science. 

Formerly an assistant professor of philosophy and associate director of the Political Theory Project at Brown University, Brennan has taught classes on business ethics, business and civic virtue, and the ethics and economics of wealth creation. He is the author of The Ethics of Voting (Princeton University Press, 2011) and co-author of A Brief History of Liberty (Wiley-Blackwell, 2010), and his work has been published in Philosophy and Phenomenological Research, The Australasian Journal of Philosophy, and Philosophical Quarterly. He currently is working on two manuscripts concerning whether citizens have a right to competent government and whether there is such a thing as a society being wealthy enough.

Brennan holds a Ph.D. and M.A. in philosophy from the University of Arizona. As an undergraduate, he studied philosophy and economics at Case Western Reserve University and ultimately earned a B.A. from the University of New Hampshire.

Robert Davidson conducts research in the areas of accounting fraud, executive ethics and decision making, and corporate governance. In his dissertation, “Accounting Fraud: Booms, Busts, and Incentives to Perform,” Davidson explores the relation between macro and microeconomic incentives to explain variance in accounting fraud through time. Two key findings are that different forms of accounting fraud are driven by different incentives and that certain firm-level incentives to commit fraud are only relevant in certain economic environments.

Davidson’s professional experience includes work in audit, tax, and non-profit accounting. He earned an MBA and a Ph.D. in accounting from University of Chicago Booth School of Business and a B.Sc. in accounting from Wayne State University.

Allison Koester’s research interests include financial reporting, corporate taxation, internal controls, and financial misconduct. Koester was a senior tax associate at KPMG, LLP in Washington, D.C., before leaving public accounting to pursue her doctoratal degree in accounting. She has presented her research at more than a dozen universities and several national conferences and was selected as a 2009 recipient of the Deloitte Doctoral Fellowship Program grant, an honor bestowed upon ten accounting doctoral students nationwide each year. In addition, Koester was selected by the University of Washington Executive MBA Class of 2010 as the most outstanding teaching assistant during the students’ two-year program. 

Koester received a Ph.D. and an M.S. in business administration with a concentration in accounting from the University of Washington and a Master of Accountancy from The George Washington University. She earned a B.S. in business administration from the University of Arizona, graduating summa cum laude with honors.

Jay Shambaugh's area of research is macroeconomics and international economics. In particular, Shambaugh has conducted extensive empirical analysis of the interaction of exchange rate regimes with monetary policy, capital flows, and trade flows. His recent research has examined international reserves holdings, country balance sheet exchange rate exposure, and the cross-country impact of fiscal policy. In addition to his book, Exchange Rate Regimes in the Modern Era (MIT Press, 2009), Shambaugh has published in The American Economic Review, The Quarterly Journal of Economics, The Review of Economics and Statistics, The Journal of International Economics, and other journals.

Prior to joining the faculty at Georgetown’s McDonough School of Business, Shambaugh worked for the White House Council of Economic Advisers, first the Senior Economist for International Economics and then as Chief Economist. Prior to these appointments, he was an associate professor at Dartmouth College and a visiting scholar at the International Monetary Fund. He also serves as a Faculty Research Fellow at the National Bureau of Economic Research.

Shambaugh received a Ph.D. in economics from the University of California at Berkeley, a Master of Arts in Law and Diplomacy from the Fletcher School at Tufts, and a B.A. in ethics, politics, and economics from Yale University.

About Georgetown University’s McDonough School of Business
Georgetown University’s McDonough School of Business is a premier business school located at the center of world politics and business in Washington, D.C. Some 1,400 undergraduates, 1,000 MBA students, and 500 participants in executive education programs study business with an intensive focus on leadership and a global perspective. Founded in 1957, the business school today resides in the new Rafik B. Hariri Building, a state-of-the-art facility that blends the tradition of Georgetown University with forward-thinking functionality. For more information about Georgetown’s McDonough School of Business, visit