About

Philip Bond is a Professor of Finance and Business Economics at the Foster School of Business, University of Washington, where he also serves as Chair of the Department of Finance and Business Economics. He holds a PhD and MA from the University of Chicago, earned in 1999, and a BA from the same institution in 1993. His expertise encompasses corporate finance, corporate governance, derivatives, dividend and payout policy, financial institutions and banking, financial markets, household finance, macroeconomics, market microstructure, microeconomics, monetary policy, regulation, and small business finance. Throughout his academic career, Professor Bond has held positions at several prestigious institutions, including the University of Pennsylvania's Wharton School, the University of Minnesota's Carlson School of Management, and Northwestern University's Kellogg School of Management. His research focuses on various aspects of financial economics, contributing to the understanding of market behavior, regulation, and financial decision-making. He has served as co-editor of the Journal of Finance and has been actively involved in academic leadership, including serving as President of the Finance Theory Group from 2016 to 2017.

Research topics

• Biology
• Genetics
• Microbiology
• Biotechnology
• Biochemistry
• Food science
• Cell biology
• Chemistry

Selected publications

• Fire & Life Safety Evaluation of the Goff Health Sciences and Technology Building

  DigitalCommons - CalPoly (California State Polytechnic University) · 2024-06-01

  article1st authorCorresponding

  The purpose of this report is to practically apply the information conveyed in the Cal Poly Fire Protection Engineering Master of Science program by selecting a building and analyzing prescriptive and performance-based design features that accomplish the building’s life safety strategy. The selected building is the Goff Health Sciences and Technology Building located in Oak Ridge, Tennessee. The Goff Health Sciences and Technology Building is a three-story educational facility with business, education, and assembly occupancies. The fire safety strategy of the building depends on a fire alarm communication system, wet pipe sprinkler system, structural fire protection components, and egress elements to protect and safely evacuate the building’s 1,289 occupants. Egress elements analyzed included occupancy classifications and characteristics, occupant loads, exit quantities, qualities and capacities, and regulatory requirements for egress systems. Other topics discussed included human behavior in fire, emergency movement, and toxicity analysis. The main compliance issues identified during the egress analysis were occupancy misclassification, inadequate exit signage, and fire barriers not extending far enough. The Goff Health Sciences and Technology Building has a wide variety of components as a part of its complex fire alarm system. The principal component is the Simplex fire alarm control panel. The fire alarm system has many kinds of initiation devices including smoke and heat detectors, manual pull stations, duct detectors, and the integrated sprinkler system. These devices trigger both audible and visual notification devices used in the building, which include strobes, and combination horn-strobes. The installed mass notification system also functions as an emergency communications system. This fire alarm system has a dedicated primary power supply and a secondary power supply to keep it running at all times. Finally, a rigorous inspection, testing, and maintenance program is in place to ensure a constant state of readiness. With only a few exceptions, the Goff Health Sciences Building met code requirements, proving that it has effective fire detection, alarm, and communications systems. The fire suppression system in the Goff Building consists of a single wet pipe sprinkler system adequately supplied by the City of Oak Ridge public water system. Different aspects of this sprinkler system include the riser and its associated components, the different kinds of sprinkler piping and heads located in the building, and how they are supported using hangers and seismic bracing. Hydraulic calculations were performed and evaluated, confirming that the city water supply meets the demand of the existing sprinkler system. Finally, inspection, testing, and maintenance requirements were laid out and compared to the known upkeep of the system. Issues identified include the hydraulic calculation sheet not being properly secured, a possible change in hazard classification in Room 245, an obstructed sprinkler head located in the 3rd- floor hallway, the unsprinklered spaces above the lower hallway ceilings, and the misapplication of window sprinklers on the interior stairwell glass. Also, significantly problematic was the lack of a robust IT&M program or at least a lack of documentation of activities performed. The Goff Health Sciences Building is steel-framed, built with Type IIB construction that does not require many structural fire protection elements. A detailed analysis of the different structural and architectural components indicates that the Goff Building is well within the structural code requirements in place when it was built, with the exception of some of the fire barriers separating the vertical exit stairways. A performance-based design approach was also used to evaluate the effectiveness of the Goff Building’s fire protection features. This was done by selecting specific performance criteria and using a comparison of Available Safe Egress Time (ASET) to Required Safe Egress Time (RSET) to determine if the building achieves its goal of life safety. Design fire scenarios were presented to model when specific tenability limits are reached so a value for ASET can be assigned. Tenability limits were selected from Chapter 63 of the SFPE Handbook. They include a maximum allowable temperature of 121 °C and a smoke layer below 6 feet impinging on egress paths. The smoke criterion was selected for concerns of carbon monoxide poisoning and visibility reduction. The first design fire selected occurs in a small office on the ground floor. The fire will initially start in a wastebasket and will proceed to ignite the contents of the room. The contents will be typical for an office space consisting of a desk, filing cabinet, computer, phone, a couple of chairs, and a reasonable amount of paper. It is assumed that the door has been left open. The technical justification for this fire is based on NFPA 101 “Design Fire Scenario 3”. This design fire would be directly across the hall from the largest lecture hall in the building. Regardless of whether the fire spreads into that space, a large fire coming out of the room would block egress out of the main emergency exit for the southeast wing. Additionally, a fire in this space would make access to the FACP in the adjacent electrical room difficult. With the compartment open to the hall, it was found to experience flashover conditions if no sprinkler activation occurs. This situation significantly affects both the egress and emergency communication aspects of the fire safety strategy. The second design fire will occur in the main lobby on the first floor. The fire will start from a thrown cigarette and will ignite lobby furniture and spread to the other items in the space. This scenario assumes that the interior doors to both stairways are propped open. The technical justification for this design fire selection is based on NFPA 101 “Design Fire Scenario 2”. The special consideration for this fire determined that the smoke layer descended to the point that it hinders egress from the main level and the stairways. Calculations for temperature and smoke levels on the design fires were done using both manual methods and the Fire Dynamics Simulator (FDS) computational fluid dynamics (CFD) modeling program. They found that the Available Safe Egress Time to be approximately 4.7 minutes. RSET was determined by summing together detection time, warning time, premovement time, and travel time. Detection and warning time are functions of the fire detection and alarm system within the Goff Building and were calculated using Zukoski plume correlations and FDS. Premovement was selected to be 74 seconds based on findings in a research paper about students in a 3-story educational building with similar occupant demographics. Emergency movement time for the Goff Building was calculated using the hydraulic model found in Chapter 59 of the SFPE Handbook. There are several assumptions made when using this model, including optimal use of exits, no interruptions in flow, and simultaneous beginning of egress. The model predicts total evacuation of the Goff Building in about 8 minutes. For the proposed worst-case design fire scenarios, it was determined that RSET>ASET, demonstrating a weakness in the fire safety strategy, given the specific assumptions made. This fire safety evaluation for the Goff Building shows how much the fire safety strategy depends on the sprinkler system and stairways being maintained. The main recommendations for this report would be for the stairway fire resistance issues to be addressed and for the Emergency Management problems to be corrected, particularly regarding staff training and the upkeep of the sprinkler and alarm systems. In conclusion, if the stairways and the sprinkler system function correctly, the Goff Health Sciences and Technology Building should be capable of accomplishing its fire safety strategy goal of life safety.

  Publisher

• (Ir)responsible Takeovers

  SSRN Electronic Journal · 2024-01-01

  preprintOpen accessSenior author
  PublisherDOI

• Testing of Sulfide Uptake Rate (SUR) and Its Applications

  Engineering materials · 2023-01-01 · 1 citations

  book-chapter
  PublisherDOI

• Income and Inequality Under Asymptotically Full Automation

  SSRN Electronic Journal · 2023-01-01 · 2 citations

  articleOpen access1st authorCorresponding
  PublisherDOI

• Reactive nitrogen species from free nitrous acid (FNA) cause cell lysis

  Water Research · 2022-04-05 · 47 citations

  article
  PublisherDOI

• Failing to forecast rare events

  Journal of Financial Economics · 2021-06-26 · 4 citations

  article1st authorCorresponding
  PublisherDOI

• Biotrickling filter for the removal of volatile sulfur compounds from sewers: A review

  Chemosphere · 2021-03-19 · 54 citations

  review
  PublisherDOI

• Non-antibiotic pharmaceuticals promote the transmission of multidrug resistance plasmids through intra- and intergenera conjugation

  The ISME Journal · 2021-03-10 · 192 citations

  articleOpen access

  Antibiotic resistance is a global threat to public health. The use of antibiotics at sub-inhibitory concentrations has been recognized as an important factor in disseminating antibiotic resistance via horizontal gene transfer. Although non-antibiotic, human-targeted pharmaceuticals are widely used by society (95% of the pharmaceuticals market), the potential contribution to the spread of antibiotic resistance is not clear. Here, we report that commonly consumed, non-antibiotic pharmaceuticals, including nonsteroidal anti-inflammatories (ibuprofen, naproxen, diclofenac), a lipid-lowering drug (gemfibrozil), and a β-blocker (propranolol), at clinically and environmentally relevant concentrations, significantly accelerated the dissemination of antibiotic resistance via plasmid-borne bacterial conjugation. Various indicators were used to study the bacterial response to these drugs, including monitoring reactive oxygen species (ROS) and cell membrane permeability by flow cytometry, cell arrangement, and whole-genome RNA and protein sequencing. Enhanced conjugation correlated well with increased production of ROS and cell membrane permeability. Additionally, these non-antibiotic pharmaceuticals induced responses similar to those detected when bacteria are exposed to antibiotics, such as inducing the SOS response and enhancing efflux pumps. The findings advance understanding of the transfer of antibiotic resistance genes, emphasizing the concern that non-antibiotic, human-targeted pharmaceuticals enhance the spread of antibiotic resistance among bacterial populations.

  PublisherOA PDFDOI

• The Equilibrium Consequences of Indexing

  Review of Financial Studies · 2021-09-16 · 69 citations

  article1st authorCorresponding

  Abstract We develop a benchmark model to study the equilibrium consequences of indexing in a standard rational expectations setting. Individuals incur costs to participate in financial markets, and these costs are lower for individuals who restrict themselves to indexing. A decline in indexing costs directly increases the prevalence of indexing, thereby reducing the price efficiency of the index and augmenting relative price efficiency. In equilibrium, these changes in price efficiency in turn further increase indexing, and raise the welfare of uninformed traders. For well-informed traders, the share of trading gains stemming from market timing increases relative to stock selection trades.

  PublisherDOI

• Nonnutritive sweeteners can promote the dissemination of antibiotic resistance through conjugative gene transfer

  The ISME Journal · 2021 · 283 citations

  • Biology
  • Microbiology
  • Food science

  Antimicrobial resistance (AMR) poses a worldwide threat to human health and biosecurity. The spread of antibiotic resistance genes (ARGs) via conjugative plasmid transfer is a major contributor to the evolution of this resistance. Although permitted as safe food additives, compounds such as saccharine, sucralose, aspartame, and acesulfame potassium that are commonly used as nonnutritive sweeteners have recently been associated with shifts in the gut microbiota similar to those caused by antibiotics. As antibiotics can promote the spread of antibiotic resistance genes (ARGs), we hypothesize that these nonnutritive sweeteners could have a similar effect. Here, we demonstrate for the first time that saccharine, sucralose, aspartame, and acesulfame potassium could promote plasmid-mediated conjugative transfer in three established conjugation models between the same and different phylogenetic strains. The real-time dynamic conjugation process was visualized at the single-cell level. Bacteria exposed to the tested compounds exhibited increased reactive oxygen species (ROS) production, the SOS response, and gene transfer. In addition, cell membrane permeability increased in both parental bacteria under exposure to the tested compounds. The expression of genes involved in ROS detoxification, the SOS response, and cell membrane permeability was significantly upregulated under sweetener treatment. In conclusion, exposure to nonnutritive sweeteners enhances conjugation in bacteria. Our findings provide insight into AMR spread and indicate the potential risk associated with the presence of nonnutritive sweeteners.

  PublisherOA PDFDOI

Frequent coauthors

• Ulf Axelson

  85 shared

• Jürg Keller

  54 shared

• Zhiguo Yuan

  City University of Hong Kong

  52 shared

• Guangming Jiang

  University of Wollongong

  47 shared

• Jianhua Guo

  University of Queensland

  27 shared

• Margaret Wexler

  27 shared

• Itay Goldstein

  National Bureau of Economic Research

  25 shared

• Mark Dopson

  Linnaeus University

  24 shared

Education

• PhD, Chemical Engineering

  The University of Queensland

  1997

Awards & honors

• Brattle Group Prize Distinguished Paper