Anya Nakhmurina (@Annut) header
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I am an Associate Professor at Yale. I study the information environment of U.S. municipalities and natural capital accounting.

Joined May 2009
Photo by Anya Nakhmurina (@Annut)Photo by Anya Nakhmurina (@Annut)Photo by Anya Nakhmurina (@Annut)Photo by Anya Nakhmurina (@Annut)Photo by Anya Nakhmurina (@Annut)Photo by Anya Nakhmurina (@Annut)Photo by Anya Nakhmurina (@Annut)
Publishing data from papers.ssrn.com/sol3/papers.… In this paper, we find that systematic changes in corporate governance regulation help explain the spread of shareholder activism worldwide. 1/4
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📣 Call for Papers: The Muni Conference is back, and this year it’s going to New Orleans. After 2 editions at Yale, Stephanie Cheng and I are hosting the 2027 Yale–Tulane Municipal Conference. 📅 Apr 16, 2027 📝 Submissions due: Feb 12, 2027 🔗 : lnkd.in/gT57imFV
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Anya Nakhmurina retweeted
When govts stop publishing public notices in newspapers, citizens disengage. Research from Prof. Anya Nakhmurina @Annut found meeting attendance dropped up to 18% & construction permits surged 35% after Florida weakened its newspaper notice requirement. yalesom.io/47BAklZ
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Very happy that my work with Dale Manning and Eli Fenichel on the fiscal impact of biodiversity loss and a pathway for conservation finance is out in Science today. science.org/doi/10.1126/scie…
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These findings matter beyond bats. The Kunming-Montreal Global Biodiversity Framework identifies a $700 billion annual biodiversity funding gap.
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Our results suggest that investors could help close part of this gap by aligning their municipal bond investments with conservation actions, generating positive returns while restoring biodiversity.
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Consistent with this, cities with access to county notice websites issued significantly more commercial zoning permits after the reform than cities that continued newspaper publication.
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Excited to see (w/ Ramona Dagostino) printed in @JOARChiBooth! TLDR: In an era of rising polarization, partisanship isn't just about policy disagreements. When cities and governors are on opposite sides of the partisan divide, it costs those cities. 🧵 onlinelibrary.wiley.com/doi/…
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How do we pin this down? We focus on cities that never switch parties. So when alignment changes, it's because a new governor took office, not because the city changed. City fixed effects absorb any time-invariant differences between D and R cities. (See the paper for details)
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Bottom line: Partisanship doesn't just move spreads. It changes how financial information gets interpreted in the muni bond market. It also has consequences for public investment.
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