Joshua White

Assistant Professor of Finance Vanderbilt University

  • Nashville TN

A former SEC economist who studies financial regulation, cryptocurrency, and securities and investments.

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Vanderbilt University

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Spotlight

1 min

Regulatory expert and former SEC economist on Elon Musk bid to buy Twitter

Joshua White, assistant professor of finance, is available for commentary on Elon Musk's bid to buy Twitter. Josh is a former financial economist for the Securities and Exchange Commission and is an expert in regulation. Josh can speak to: The impact on shareholders, the board's response, Musk's strategy for the offer and the SEC's concerns Concerns raised about the delay in Musk filing the required SEC form and that he filed the incorrect form, as well as speculation that his hostile bid will raise further scrutiny of this action The market's belief that there is only a small chance this deal will go through, based on the price right now

Joshua White

1 min

Crypto and regulation expert on rise in cryptocurrency and NFTs

Joshua White, assistant professor of finance, is available for commentary on the rise in popularity and regulation concerns of cryptocurrency and NFTs. Josh is a former financial economist for the SEC and can speak to The rise in crypto and NFT popularity, including the influence of celebrities, politicians and social media Accessibility and democratization of crypto and NFTs for younger, tech savvy audiences The challenges and opportunities the world of cryptocurrency brings for traders, investors and regulators

Joshua White

Biography

A one-time Financial Economist for the U.S. Securities and Exchange Commission, Josh brings a wealth of regulatory experience to his research and the classroom. White's work has been featured in a variety of financial and legal publications, including the Journal of Financial Economics, Journal of Accounting & Economics, Journal of Corporate Finance, Journal of Banking & Finance, Administrative Law Review Accord, and Georgia Law Review. Additionally, he has contributed to blog posts for Harvard and Columbia Law Schools and authored White Papers for the SEC. White studies how information asymmetries and divergent incentives among capital market participants affect corporate actions and value. His work focuses on the role of disclosure and securities regulation in addressing information disparities. Recent topics include mandatory and voluntary disclosure, institutional investors, boards of directors, subprime mortgages, and OTC stock promotions.

Areas of Expertise

Financial Disclosure
Sarbanes-Oxley
Securities and Investments
Cryptocurrency
Financial Regulation
Bitcoin

Accomplishments

Best Paper Award Finalist

2018 FMA European Conference

Best Paper Award Finalist

2017 FMA Annual Meeting

Outstanding Discussion Award

2017 AAA FARS Midyear Meeting

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Education

University of Tennessee

Ph.D.

University of Tennessee

B.S.

University of Tennessee

M.B.A.

Selected Media Appearances

Where Musk’s Twitter Gambit Stands, Nearly Five Months In

The Wall Street Journal  online

2023-03-08

“We call it the zone of insolvency, which is certainly where Twitter is: You’re not profitable and you have this huge amount of debt,” said Josh White, an assistant professor of finance at Vanderbilt University and a former Securities and Exchange Commission economist. “Now, he’s going to have to focus on new sources of revenue generation in order to continue servicing the debt and just not go bankrupt.”

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Elon Musk-led Twitter has been sued by at least six companies for failing to pay bills

CNBC  online

2023-02-24

Vanderbilt University finance professor Josh T. White, a former SEC economist, agreed the moves are unusual, and said litigation over nonpayment to vendors could result from “incorrect and aggressive capital structure.”

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Dude, where's my bitcoin? Crypto sits out the Super Bowl after a miserable year

Los Angeles Times  online

2023-02-12

“The FTX collapse has left a stigma on the industry, even though much of FTX’s alleged fraud is what I would refer to as plain vanilla fraud,” said Josh White, an assistant professor of finance at Vanderbilt University and a former financial economist at the Securities and Exchange Commission. “This stigma is leaving them facing high scrutiny from regulators and Congress … so the decline in ad spending is prudent.”

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Selected Articles

Qualified residential mortgages and default risk

Journal of Banking & Finance

Ioannis V Floros, Joshua T White

2016

The Dodd–Frank Act tasks regulators with defining a Qualified Residential Mortgage (QRM) as an exemption from risk retention for residential mortgage-backed securities. Congress instructs regulators to consider factors that result in lower levels of historic default in defining a QRM.

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Quantified cost-benefit analysis at the SEC

Administrative Law Review Accord

Joshua T White

2016

Following a number of high-profile judicial setbacks, the US Securities and Exchange Commission (SEC) has devoted considerable resources towards enhancing its economic analyses in support of rulemaking activities.

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The evolving role of economic analysis in SEC rulemaking

Georgia Law Review

Joshua T White

2015

In economics literature, public policies are often compared to the benchmark of a benevolent regulator-one that maximizes social welfare while balancing the interests of all affected parties. 2 The result is the socially optimal choice of regulations with full economic justification.

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