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Benjamin E. Hermalin - Haas School of Business, University of California, Berkeley. Berkeley, CA, US

Benjamin E. Hermalin Benjamin E. Hermalin

Thomas & Alison Schneider Distinguished Professor in Finance | Vice Provost for the Faculty | Haas School of Business, University of California, Berkeley



Areas of Expertise (5)

Contract Theory

Economics of Leadership and Organization

Executive Compensation

Corporate Governance

Competitive Strategy and Industrial Organization


Benjamin E. Hermalin holds professorships both in the Economics Department and at Berkeley Haas. In the latter, he is the Thomas & Alison Schneider Distinguished Professor of Finance. He received his PhD from MIT in 1988, the same year he joined UC Berkeley as an assistant professor in the Department of Economics and the School of Business. He became a full professor in 1998. From 1999-2006 he was the Willis H. Booth Chair in Banking & Finance. He received the Schwabacher Award for outstanding teaching and research in 1993 and the Earl F. Cheit Outstanding Teaching Award in 1991. From 1999 to 2002, he served as the Berkeley Haas Associate Dean for Academic Affairs and Chair of the Faculty. He was the Interim Dean of Berkeley Haas for most of 2002. He served as the Economics Department Chair from 2005 until 2008. He served from 2009 until 2012 (chair, 2011-12) on the campus's Budget Committee, which reviews all academic personnel matters on the campus, including appointments, tenure, and promotions. He is a former co-editor of the RAND Journal of Economics. In 2014-15, he was the Vice Chair of the Academic Senate and served as Chair from fall 2015 until spring 2016. He is currently the Vice Provost for the Faculty. His areas of research include corporate governance, the study of organizations—especially leadership, industrial organization, and law and economics.

Education (2)

Massachusetts Institute of Technology: PhD, Economics

Princeton University: AB, Summa Cum Laude

Honors & Awards (6)

2014 – 2015 Distinguished Service Award from the Division of Social Sciences


NSF Grants

1991 – 1993 & 1997 – 2000

Schwabacher Award


Earl F. Cheit Award for Excellence in Teaching


NSF Graduate Fellowship

1984 – 1987

Phi Beta Kappa


Positions Held (1)

At Haas since 1988

2016 – present, Vice Provost of Faculty, UC Berkeley 2006 – present, Thomas & Alison Schneider Distinguished Professorship in Finance 1998 – present, Professor, Haas School of Business 1998 – present, Professor, Department of Economics, UC Berkeley 2015 – 2016, Chair of the Academic Senate, UC Berkeley 2011 – 2012, Chair of the Budget Committee, UC Berkeley 2010 – 2015, Co-Editor, RAND Journal of Economics 2005 – 2008, Chair, Department of Economics, UC Berkeley 2002, Interim Dean, Haas School of Business 1999 – 2006, Willis H. Booth Professor of Banking and Finance 1999 – 2002, Associate Dean for Academic Affairs, Haas School of Business 1998 – 1999, Professor of Economics, Johnson Graduate School of Management 1996 – 1998, Harold Furst Associate Professor of Management Philosophy & Values, Haas School of Business 1994 – 1996, Associate Professor, Haas School of Business 1988 – 1994, Assistant Professor, Haas School of Business

Media Appearances (4)

Are We Too Captivated by Charisma in Hiring?

Chronicle Vitae  online


Research by Prof. Benjamin Hermalin, Thomas & Alison Schneider Distinguished Professor in Finance and Vice Provost for the Faculty, found that charismatic leaders are often tempted to substitute charm for action and to hide bad news.

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Disney Faces Daunting Questions in Wake of John Lasseter, Harvey Weinstein Scandals

Variety  online


“If this were one of those open secrets, as was alleged with Weinstein, they’re really much more culpable,” said Benjamin Hermalin, a UC Berkeley professor and expert on corporate governance.

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Oracle, Cisco break ranks, support repeal of net neutrality rules

San Francisco Chronicle  online


Most companies in Silicon Valley can be considered content companies, noted Benjamin Hermalin, an economics professor at the UC Berkeley Haas School of Business, as they stream videos or deliver apps.

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The FCC should preserve net neutrality

The HIll  online


Who do you think should decide what content you can most readily access, you or your Internet service provider (ISP)? Although we suspect most Americans would like to decide for themselves, FCC Chairman Ajit Pai has concluded that your ISP—that is, AT&T, Comcast, or one of a few other large corporations—should decide for you. For that is, in effect, what he proposed last week in scrapping net neutrality regulations.

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Selected Papers & Publications (10)

Biased Monitors: Corporate Governance when Managerial Ability is Misassessed

Journal of The Japanese and International Economies

Benjamin E. Hermalin


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Platform-Intermediated Trade with Uncertain Quality

Journal of Institutional and Theoretical Economic

Benjamin E. Hermalin


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Why Whine about Wining and Dining?

Journal of Law, Economics, and Organization

Benjamin E. Hermalin


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The Strategic Use of Download Limits by a Monopoly Platform

RAND Journal of Economics

Nicholas Economides and Benjamin E. Hermalin


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When Less is More: The Benefits of Limits on Executive Pay

The Review of Financial Studies

Peter Cebon and Benjamin E. Hermalin


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Information Disclosure and Corporate Governance

The Journal of Finance

Benjamin E. Hermalin Michael S. Weisbach


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The Economics of Network Neutrality

RAND Journal of Economics

Nicholas Economides and Benjamin E. Hermalin


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Endogenously Chosen Boards of Directors and Their Monitoring of the CEO,

The American Economic Review

Benjamin E. Hermalin and Michael S. Weisbach


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Toward an Economic Theory of Leadership: Leading by Example

American Economic Review

Benjamin E. Hermalin


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Moral Hazard and Verifiability: The Effects of Renegotiation in Agency


Benjamin E. Hermalin and Michael Katz.


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