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Davis, Alicia J.

Professor of Law

3210 South Hall
Since joining the Michigan Law faculty in fall 2004, Prof. Alicia J. Davis has taught Enterprise Organization, Mergers and Acquisitions, Investor Protection, and the Law and Economics Workshop. Her current research includes projects in corporate governance and securities regulation. Before coming to Michigan Law, Prof. Davis practiced law at Kirkland & Ellis LLP in Washington, D.C., where she represented public and private companies and private equity firms in mergers and acquisitions and leveraged buyout transactions. Her professional experience also includes time as an investment banker, first with Goldman, Sachs & Co. in New York, where her clients included Fortune 100 companies pursuing equity and debt financings, and later with Raymond James & Associates in St. Petersburg, Florida, where she served as a vice president and represented public and private companies in middle market mergers and acquisitions transactions. Prof. Davis served as a visiting professor at the University of Chicago Law School in fall 2010 and is a member of the Florida and District of Columbia Bars. She earned her BS in business administration, summa cum laude, from Florida A&M University, her MBA from Harvard Business School, and her JD from Yale Law School.

Recent Publications

More Publications...

​"Using Business School Cases to Teach Corporate Law." St. Louis U. L. J. (Forthcoming, 2015).​

​"Market Efficiency and the Problem of Retail Flight." Stan. J. L. Bus. & Fin. (Forthcoming, 2014).​​

Are Investors' Gains and Losses from Securities Fraud Equal Over Time? Theory and Evidence. Univ. of Michigan Law School, Empirical Legal Studies Center Working Paper Series, no. 09-002. Working Paper.
Full text: MLaw Repository | SSRN

Do Individual Investors Affect Share Price Accuracy? Some Preliminary Evidence. Univ. of Michigan Law School, Empirical Legal Studies Center Working Paper Series, no. 07-018. Working Paper.
Full text: MLaw Repository | SSRN

"A Requiem for the Retail Investor?" Va. L. Rev. 95, no. 4 (2009): 1105-29.
Full Text: MLaw Repository | HEIN (UMich users) | HEIN | Westlaw | WWW


Presented "Inverse Lemons Markets and Mandatory Disclosure" at the Brooklyn Law School Faculty Workshop, Brooklyn, New York, March 2013.

Presented "The Law of Private Placements" at the Off-Wall Street Symposium, Michigan State University College of Law, East Lansing, February 2013.

Provided commentary on "Tradeoffs Between Internal and External Governance: Board Structure and Antitakeover Provisions" at the Conference on Empirical Legal Studies, Chicago, November 2011.

Served as chair of the Corporate and Securities Law Panel at the American Law and Economics Association Annual Meeting, Columbia Law School, New York, May 2011.

Presented "Is There a Corporate Governance Clientele Effect? Some Preliminary Evidence" at the University of Colorado Law School Deals Colloquium, Boulder, Colorado, April 2011.

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