Ailsa Röell is Professor of International and Public Affairs at Columbia University. Her academic specialty is financial economics and the regulation of financial markets. Her research and teaching spans securities markets, corporate finance, and corporate governance. She has published extensively in the area of stock market microstructure, with empirical and theoretical papers on market trading architecture and its impact on liquidity and price formation; a textbook on the subject, Market Liquidity, appeared in 2013. Her research also focuses on corporate governance, with work on topics ranging from corporate governance in banks to the history of concentration of control, shareholder rights and takeover defense mechanisms in the Netherlands, and theoretical and empirical analyses of compensation, earnings manipulation, and class action litigation in the U.S.