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Michael A. Goldstein

Academic Advisor
Babson College
To contact Michael A. Goldstein, please email Jake George at or call +1.617.864.7900

Dr. Goldstein is Professor of Finance at Babson College, where he holds the Donald P. Babson Chair in Applied Investments.

His research specialty is examining the structure of equity and bond markets. He also does work in climate change, dividend policy, asset pricing, real estate, and privatization.

Dr. Goldstein currently serves as Chair of the Financial Regulatory Authority (FINRA) Economic Advisory Committee. He previously served on the Nasdaq Economic Advisory Board from 2003 to 2005, including as Chair in 2005, and was the Visiting Economist at the New York Stock Exchange. He has also served as a member of the U.S. Securities Exchange Commission (SEC) roundtables on fixed income (2013), market structure (2010), and on decimalization (2000). Prior to that, he advised the Deputy Prime Minister of Poland on Poland’s privatization program, and worked as an Investment Banker with Merrill Lynch Capital Markets in their Financial Institutions and Japan Banking groups. Dr. Goldstein has served in an advisory role to the senior leadership of a Fortune 100 company, and has advised or served on the boards of a variety of small start-ups.

He has presented his work at numerous conferences worldwide and has thrice won the “Best Paper in Market Microstructure” at major national conferences. His papers have been published in major finance academic journals, including The Journal of Finance, The Journal of Financial Economics, and The Review of Financial Studies. He was a guest editor for the May 2014 Special Issue of The Financial Review on Computerized and High Frequency Trading, and is currently an Associate Editor for Financial Management, The Financial Review, and Finance Research Letters.

In addition to his position at Babson, Dr. Goldstein is also currently a Visiting Professorship Fellow at the Climate Change Research Center at the University of New South Wales (Australia), and was previously a Visiting Professor at the University of Sydney (Australia), an Honorary Professor at The Queen’s University of Belfast (UK), and a Visiting Professor at Trinity College (Ireland). He has also taught at Boston College and at the University of Colorado at Boulder, where he received the Proctor & Gamble Teaching Excellence Award.

Dr. Goldstein received a B.S., an M.B.A., an M.A., and a Ph.D. in Finance from the Wharton School at the University of Pennsylvania.

Computerized and High-Frequency Trading
May 2014
Published in The Financial Review, Vol. 49, No. 2
Trading at the Speed of Light: The Impact of High-Frequency Trading on Market Performance, Regulatory Oversight, and Securities Litigation
Published by The Brattle Group, Inc.
News & Events
May 10, 2018
Brattle Academic Advisor Michael Goldstein to Present at SEC's Annual Conference on Financial Market Regulation

Brattle Academic Advisor Michael Goldstein will discuss “The Value of a Millisecond: Harnessing Information in Fast, Fragmented Markets" at the 5th Annual Conference on Financial Market Regulation.

April 24, 2017
Brattle Academic Advisor Co-authors Paper on the Monetary Value of Snow

Dr. Michael Goldstein, a professor of finance at Babson College and an Academic Advisor to The Brattle Group, co-authored a paper for the American Geophysical Union (AGU) assessing the monetary value of seasonal snow.

July 10, 2014
Michael Goldstein Quoted in Wall Street Journal Article on High-Frequency Trading

Brattle academic advisor Michael Goldstein, a Professor of Finance and Chair of the Finance Division at Babson College, was quoted in a recent Wall Street Journal article, “The Markets Unplugged."