David C. Smith specializes in corporate finance and restructuring. He provides expert testimony in matters related to many areas of finance, including corporate valuation, solvency, bankruptcy, restructuring, and governance; distressed debt trading; securities valuation; bank lending relationships; private equity; and the financing and investment performance of pension, real estate, and hedge funds.
Professor Smith’s current research includes analyzing the economic importance of corporate credit agreements, investigating the restructuring of highly leveraged firms, documenting the impact of distressed debt trading on bankruptcy outcomes, and studying the influence of corporate contracts and law on the quality of corporate governance.
Before joining the University of Virginia, Professor Smith worked as an economist in the International Finance Division of the Federal Reserve Board. While at the board, he covered the Japanese and Chinese banking sectors and worked on issues related to international financial architecture. Before joining the Federal Reserve, Professor Smith spent five years teaching at the Norwegian School of Management in Oslo.
Professor Smith has published his research in leading academic journals, including the Journal of Finance, the Journal of Financial Economics, the Journal of Econometrics, and the Review of Financial Studies, and has presented his research at universities and conferences around the world. He has won several awards for his teaching. In 2019, the University of Virginia honored Professor Smith with a Collaborative Excellence in Public Service Award for his work on a ten-year retrospective project on the 2008 financial crisis.
This Time It’s Different? Developments in Leveraged Loan and Private Equity Cycle
Frederick Hsu Living Trust v. ODN Holding Corp. et al.
Bankruptcy Valuation of a Start-Up Company
SEC Proceeding Regarding Municipal Debt Offering
The Ownership and Trading of Debt Claims in Chapter 11 Restructurings