Awarded the 2025 Best Paper Prize in Asset Management from the Midwest Finance Association for "The Market for Sharing Interest Rate Risk: Quantities and Asset Prices" with Umang Khetan, Jane Li, and Ioana Neamtu.
Ishita Sen
Assistant Professor of Business Administration
Assistant Professor of Business Administration
Finance
Ishita Sen is an assistant professor of business administration in the Finance Unit. She teaches the Finance I course in the MBA required curriculum. Professor Sen’s research focuses on financial intermediation, asset pricing, and insurance markets. In her current research, she studies how inconsistencies in regulation restrict risk management, how capital regulation affects the insurance product market, and more recently, the agency problems associated with the use of internal models for asset valuation. Professor Sen holds a PhD in Finance from the London Business School.
- JOURNAL ARTICLES
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- Sen, Ishita, Ana-Maria Tenekedjieva, and Sangmin Oh. "Pricing of Climate Risk Insurance: Regulation and Cross-Subsidies." Journal of Finance (forthcoming). View Details
- Sen, Ishita, Lorenzo Bretscher, Lukas Schmid, and Varun Sharma. "Institutional Corporate Bond Pricing." Review of Financial Studies (forthcoming). View Details
- Sen, Ishita. "Regulatory Limits to Risk Management." Review of Financial Studies 36, no. 6 (June 2023): 2175–2223. (Lead Article and Editor's Choice, Winner of the RFS Rising Scholar Award 2024.) View Details
- WORKING PAPERS
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- Sen, Ishita, Pari Sastry, and Ana-Maria Tenekedjieva. "When Insurers Exit: Climate Losses, Fragile Insurers, and Mortgage Markets." Harvard Business School Working Paper, No. 24-051, February 2024. (Revise & Resubmit, Quarterly Journal of Economics.) View Details
- Sastry, Parinitha, Tess Scharlemann, Ishita Sen, and Ana-Maria Tenekedjieva. "The Limits of Insurance Demand and the Growing Protection Gap." Harvard Business School Working Paper, No. 25-054, February 2025. View Details
- Sen, Ishita, Umang Khetan, Jane Li, and Ioana Neamtu. "The Market for Sharing Interest Rate Risk: Quantities and Asset Prices." Harvard Business School Working Paper, No. 24-052, February 2024. View Details
- Sen, Ishita, and Varun Sharma. "Internal Models, Make Believe Prices, and Bond Market Cornering." Working Paper, June 2020. View Details
- Sen, Ishita, and David Humphry. "Capital Regulation and Product Market Outcomes." Working Paper, January 2020. View Details
- CASES AND TEACHING MATERIALS
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- Sen, Ishita, Emil Nuwan Siriwardane, David S. Scharfstein, and Luis M. Viceira. "The Silicon Valley Bank Crisis: MAPFRE USA's Investment in SVB Financial Group Bonds." Harvard Business School Case 224-056, May 2024. (Revised July 2024.) View Details
- Baker, Malcolm, Ishita Sen, and Jonathan Wallen. "Dicerna." Harvard Business School Case 223-049, November 2022. (Revised May 2023.) View Details
- Scharfstein, David S., Ishita Sen, and Dean Xu. "Next Insurance: Considering New Markets." Harvard Business School Case 221-090, April 2021. (Revised April 2022.) View Details
- Other Publications and Materials
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- Sen, Ishita. "Budget Committee Testimony on Riskier Business: How Climate Is Already Challenging Insurance Markets." Government Testimony, United States Senate, Committee on the Budget, June 2024. View Details
- Sen, Ishita. "Congressional Statement for the Record, Hearing on Factors Influencing the High Cost of Insurance for Consumers." Government Testimony, U.S. House of Representatives, Committee on Financial Services, Subcommittee on Housing and Insurance, November 2023. View Details
- Awards & Honors
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Received an INQUIRE Europe Research Grant in 2024 for “The Market for Sharing Interest Rate Risk: Quantities and Asset Prices” with Umang Khetan, Jane Li, and Ioana Neamtu.Winner of the 2024 Rising Scholar Award from The Review of Financial Studies for "Regulatory Limits to Risk Management" (June 2023).Winner of the 2023 E-Axes Forum Best Paper Prize in Macroeconomic Policies and Sustainability for "Pricing of Climate Risk Insurance: Regulation and Cross-Subsidies" with Sangmin Oh and Ana-Maria Tenekedijieva.Winner of the 2022 European Finance Association Best Paper Prize in Responsible Finance for "Pricing of Climate Risk Insurance: Regulation and Cross-Subsidies" with Sangmin Oh and Ana-Maria Tenekedijieva.Received a 2021 Research Fellowship from the Center for Insurance Policy Research at the National Association of Insurance Commissioners.Received an INQUIRE Europe Research Grant in 2021.Winner of the 2020 Jack Treynor Prize from the Institute for Quantitative Research in Finance for "Regulatory Limits to Risk Management."Winner of the 2019 European Finance Association (EFA) Best Conference Paper Prize for "Regulatory Limits to Risk Management."
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