Professor Kalay's research explores how investors use various sources of information, specifically corporate disclosure and accounting information. In this context, his research broadly focuses on:  Different types of corporate disclosure, and their role in the sophistication of the investor base;  Aggregate earnings and uncertainty, and their relation to macroeconomic activity; and  Bond contract design and debt pricing.
Professor Kalay holds a PhD from the University of Chicago and an MBA from the Wharton School of Business. Prior to earning his PhD, Alon worked as an Associate at McKinsey & Company, in the Corporate Finance Practice. He has also served as a faculty member in McKinsey's Core Skills Valuation Training Program.