Skip to main content
About HEC About HEC
Summer School Summer School
Faculty & Research Faculty & Research
Master’s programs Master’s programs
Bachelor Programs Bachelor Programs
MBA Programs MBA Programs
PhD Program PhD Program
Executive Education Executive Education
HEC Online HEC Online
About HEC
Overview Overview
Who
We Are
Who
We Are
Egalité des chances Egalité des chances
HEC Talents HEC Talents
International International
Sustainability Sustainability
Diversity
& Inclusion
Diversity
& Inclusion
The HEC
Foundation
The HEC
Foundation
Campus life Campus life
Activity Reports Activity Reports
Summer School
Youth Programs Youth Programs
Summer programs Summer programs
Online Programs Online Programs
Faculty & Research
Overview Overview
Faculty Directory Faculty Directory
Departments Departments
Centers Centers
Chairs Chairs
Grants Grants
Knowledge@HEC Knowledge@HEC
Master’s programs
Master in
Management
Master in
Management
Master's
Programs
Master's
Programs
Double Degree
Programs
Double Degree
Programs
Bachelor
Programs
Bachelor
Programs
Summer
Programs
Summer
Programs
Exchange
students
Exchange
students
Student
Life
Student
Life
Our
Difference
Our
Difference
Bachelor Programs
Overview Overview
Course content Course content
Admissions Admissions
Fees and Financing Fees and Financing
MBA Programs
MBA MBA
Executive MBA Executive MBA
TRIUM EMBA TRIUM EMBA
PhD Program
Overview Overview
HEC Difference HEC Difference
Program details Program details
Research areas Research areas
HEC Community HEC Community
Placement Placement
Job Market Job Market
Admissions Admissions
Financing Financing
FAQ FAQ
Executive Education
Home Home
About us About us
Management topics Management topics
Open Programs Open Programs
Custom Programs Custom Programs
Events/News Events/News
Contacts Contacts
HEC Online
Overview Overview
Executive programs Executive programs
MOOCs MOOCs
Summer Programs Summer Programs
Youth programs Youth programs

Jessica JEFFERS

Associate Professor

Finance

 Profile picture

Biography

Jessica studies empirical corporate finance, with a special interest in labor and finance, entrepreneurship, law, and sustainability. She is a founding member of the Impact Finance Research Consortium. She also co-organizes the Labor & Finance Online Seminar (LFOS) with Tania Babina (Columbia), David Matsa (Kellogg), and Elena Simintzi (UNC).

Jessica earned her PhD in finance from The Wharton School, University of Pennsylvania. She has received prizes including the AQR Top Finance Graduate Award, the Kauffman Dissertation Fellowship for entrepreneurship studies, and the Investment for Impact Research Prize. Prior to academia, she worked in management consulting for the financial industry. She holds a BA in economics & mathematics from Yale University.

Scientific articles

The risk and return of impact investing funds

Journal of Financial Economics, Forthcoming, vol. 161, n° 103928, (in coll. with T. Lyu, K. Posenau)

The Impact of Restricting Labor Mobility on Corporate Investment and Entrepreneurship

Review of Financial Studies, January 2024, vol. 37, n° 1, pp 1-44,

Shadow Contracts

University of Chicago Business Law Review, Spring 2022, vol. 1, n° 1, (in coll. with A. M. TUCKER)

Contracts with (Social) benefits: The implementation of impact investing

Journal of Financial Economics, November 2021, vol. 142, n° 2, pp 697-718, (in coll. with C. Geczy, D. K. Musto, A. M. Tucker)

In Pursuit of Good & Gold: Data Observations of Employee Ownership & Impact Investment

Seattle University Law Review, 2017, vol. 40, n° 2, (in coll. with C. GECZY, D. K. MUSTO, A. M. TUCKER)

Institutional Investment When Shareholders Are Not Supreme

Harvard Business Law Review, 2015, vol. 5, n° 1, pp 75-139, (in coll. with C. GECZY, D. K. MUSTO, A. M. TUCKER)

Working papers

Antitrust Enforcement Increases Economic Activity

Cahier de Recherche du Groupe HEC , 2023

The Risk and Return of Impact Investing Funds

Proceedings of Paris December 2021 Finance Meeting EUROFIDAI - ESSEC , 2021

Scientific articles

The Impact of Restricting Labor Mobility on Corporate Investment and Entrepreneurship

Review of Financial Studies, January 2024, vol. 37, n° 1, pp 1-44,

The risk and return of impact investing funds

Journal of Financial Economics, Forthcoming, vol. 161, n° 103928, (in coll. with T. Lyu, K. Posenau)

Shadow Contracts

University of Chicago Business Law Review, Spring 2022, vol. 1, n° 1, (in coll. with A. M. TUCKER)

Contracts with (Social) benefits: The implementation of impact investing

Journal of Financial Economics, November 2021, vol. 142, n° 2, pp 697-718, (in coll. with C. Geczy, D. K. Musto, A. M. Tucker)

Working papers

Antitrust Enforcement Increases Economic Activity

Cahier de Recherche du Groupe HEC , 2023

The Risk and Return of Impact Investing Funds

Proceedings of Paris December 2021 Finance Meeting EUROFIDAI - ESSEC , 2021

Education

  • Ph.D., in Finance, The Wharton School, University of Pennsylvania - USA

Academic appointments

Academic Responsibilities at HEC

  • 2022- Associate Professor, Finance HEC Paris
  • 2022- Member of GREGHEC, the joint research laboratory CNRS-HEC Paris, GREGHEC HEC Paris

External Academic Responsibilities

  • 2017-2022 Assistant Professor University of Chicago

Scientific Activities

Membership in Academic or Professional Organisation

  • Impact Finance Research Consortium (founding member)

Editorial activities

  • Referee: Review of Financial Studies Journal of Finance Review of Finance Management Science Journal of Law Economics Review of Economics and Statistics Journal of Business Ethics Review of Corporate Finance Studies Journal of the European Economic Association