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Faculty Advisory Committee
Professor Iyengar has taught courses in leadership and entrepreneurial creativity. Her research addresses the implications of offering people, whether they be employees or consumers, choices. She has examined choice in a multitude of contexts ranging from employee motivation and performance in a global organization, Citigroup, to chocolate displays at Godiva, to the magazine aisles of supermarkets, and to mutual fund options in retirement benefit plans. Professor Iyengar received the Presidential Early Career Award for her ongoing work in examining cultural, individual, and situational factors that influence people's choice-making preferences and behaviors.
Professor Chen’s main research area is supply chain management. He has published extensively in many of the field’s top academic journals such as “Management Science” and “Operations Research.” His research has addressed issues in production/distribution planning, procurement auctions, supplier management, supply chain coordination, supply chain information sharing, incentive contracts, salesforce incentives, etc. Professor Chen received the prestigious CAREER Award from the National Science Foundation (USA), 1997. In 2004, he received the Overseas Chinese Young Investigator Award from the National Natural Science Foundation of China. In 2005, he was appointed the Distinguished Visiting Professor by the Chinese Academy of Science. In 2006, he was named the Chang Jiang Scholar by the Ministry of Education, China. Professor Chen held, and continues to hold, numerous leadership positions in his profession: Area Editor for Operations Research (responsible for the Manufacturing, Service, and Supply Chain Operations area), Departmental Editor for Management Science (Supply Chain Management Department), Senior Editor for Manufacturing & Service Operations Management, and Editorial Board Member of Marketing Science. In 2006, he served as the President of the Manufacturing & Service Operations Management Society in the United States (MSOM). In 2007, he founded the Overseas Chinese Scholars Association in Management Science and Engineering. He is the current President of OCSAMSE.
Professor Jiang's main research interest lies in investment companies (such as mutual funds, closed-end funds, and hedge funds), and institutional investors' role in corporate decisions and governance. Her research has been featured in major media, including the Wall Street Journal, Economist, Institutional Investors, Money, Fortune, Business Week, New York Times and Financial Times. She also received the Smith-Breeden Distinguished Paper Prize from the Journal of Finance. Jiang has been a fellow at the TIAA-CREF Institute since 2005. Prior to joining the School, she spent two years as an investment banking associate. Jiang has taught various courses in corporate finance and is the recipient of multiple teaching awards.
Professor Johar's expertise lies in consumer psychology, focusing on how consumers react to marketing efforts, especially advertising, promotions and sponsorship. She also examines the influence of consumer self-control and perceptions of control on decision making and consumption. This research has implications for the design of effective communication strategies. She has published several influential articles in the areas of consumer persuasion and decision making in leading marketing journals such as the Journal of Consumer Research, Journal of Consumer Psychology, Journal of Marketing Research, Journal of Advertising, Journal of Experimental Psychology, Psychological Science and Organizational Behavior and Human Decision Processes. Professor Johar currently serves as the Associate Editor of the International Journal of Research in Marketing and sits on the Editorial Review Boards of the Journal of Consumer Research, the Journal of Marketing Research, and the Journal of Consumer Psychology. Professor Johar teaches courses on Advertising and Branding, Global Marketing Consulting for Social Enterprise, Research Methods, and Consumer Behavior to MBA, Executive MBA and PhD students.
Professor Patrick is recognized as a leading specialist on the Japanese economy and on Pacific Basin economic relations. His major fields of published research on Japan, which include 15 books and some 60 articles and essays, are macroeconomic performance and policy, banking and financial markets, government-business relations and Japan–United States economic relations. He has been awarded Guggenheim and Fulbright fellowships and the Ohira Prize, and he has been a visiting professor at Hitotsubashi University, University of Tokyo and University of Bombay. Patrick, who joined the Columbia faculty after some years as professor of economics and director of the Economic Growth Center at Yale University, is also co-director of Columbia’s APEC Study Center.
Professor Penman’s research is concerned with the valuation of equity and the role of accounting information in security analysis. He has published widely in finance and accounting journals and has conducted seminars on fundamental analysis and equity evaluation for academic and professional audiences. In 1991, he was awarded the notable Contribution to Accounting Literature Award by the American Accounting Association and the American Institute of Certified Public Accountants, and in 2002 was awarded the American Accounting Association and Deloitte & Touche Wildman Medal for his book, Financial Statement Analysis and Security Valuation, published by McGraw-Hill/Irwin. He is managing editor of the Review of Accounting Studies and is on the editorial board of the Schmalenbach Business Review. In 2009, Professor Penman was awarded an Honorary Doctorate by the Stockholm School of Economics at the School centenary celebration ceremony, which took place in Stockholm Cathedral in the presence of the King and Queen of Sweden.
Shang-Jin Wei has been Professor of Finance and Economics and N.T. Wang Chair in Chinese Business and Economy at Columbia University's Graduate School of Business since 2007. He is also Director for the National Bureau of Economic Research's Working Group on the Chinese Economy and a Research Fellow at the Center for Economic Policy Research (Europe). Before joining Columbia University, he had had the positions of Assistant Director, Chief of Trade and Investment Division, Chief of Mission to Myanmar (Burma) at the International Monetary Fund, the New Century Chair Senior Fellow at the Brookings Institution, and Associate Professor at Harvard University's Kennedy School of Government. He has undertaken consulting work for both private companies such as PricewaterhouseCoopers and government organizations such as the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of San Francisco, the World Bank, the Asian Development Bank, and the United Nations. Professor Wei has published extensively on topics on international finance, trade, and the Chinese economy in leading academic journals. His research has also been reported in Financial Times, Wall Street Journal, Economist, Business Week, Chicago Tribune, and other news media.
Jagdish N. Bhagwati
Arthur Lehman Professor of Economics and Professor of Political Science Columbia University, Department of Economics
Jagdish Bhagwati, is University Professor at Columbia University and Senior Fellow in International Economics at the Council on Foreign Relations. He has been Economic Policy Adviser to Arthur Dunkel, Director General of GATT (1991-93), Special Adviser to the UN on Globalization, and External Adviser to the WTO. He has served on the Expert Group appointed by the Director General of the WTO on the Future of the WTO and the Advisory Committee to Secretary General Kofi Annan on the NEPAD process in Africa, and was also a member of the Eminent Persons Group under the chairmanship of President Fernando Henrique Cardoso on the future of UNCTAD.
Professor Bhagwati has published more than three hundred articles and has authored or edited over fifty volumes; he also writes frequently for The New York Times, The Wall Street Journal, and The Financial Times, as well as reviews for The New Republic and The Times Literary Supplement. Professor Bhagwati is described as the most creative international trade theorist of his generation and is a leader in the fight for freer trade. His most recent book, In Defense of Globalization (Oxford, 2004), has attracted worldwide acclaim. Five volumes of his scientific writings and two of his public policy essays have been published by MIT press. The recipient of six festschrifts in his honor, he has also received several prizes and honorary degrees, including awards from the governments of India (Padma Vibhushan) and Japan (Order of the Rising Sun, Gold and Silver Star).
Paul Milstein Professor of Real Estate Columbia Business School
Professor Mayer is Senior Vice Dean and Paul Milstein Professor of Real Estate at Columbia Business School. He is also Research Director of the Paul Milstein Center for Real Estate, Visiting Scholar at the Federal Reserve Bank of New York, and Research Associate at the National Bureau of Economic Research. Professor Mayer serves on the Board of Editors of Real Estate Economics and Journal of Urban Economics and is a Fellow of the Homer Hoyt Institute. He also works as part-time research director and member of the Board of Directors of Oak Hill REIT Management, a REIT hedge fund. Dr. Mayer previously held positions at The Wharton School, the University of Michigan, and the Federal Reserve Bank of Boston. He holds a BA in Math and Economics from the University of Rochester and a PhD in Economics from MIT.
Professor Mayer’s research explores a variety of topics in real estate, including real estate cycles, capital markets, housing, public and private real estate values, and debt securitization. He has also written on the market for reverse mortgages, the link between local government activities and housing values, and the economics of airline congestion. His research has been funded by the National Science Foundation, the Government of Canada, and the Real Estate Research Institute, among others. He has authored many scholarly articles on these subjects and is frequently quoted in the national media, including the Wall Street Journal, New York Times, ABC (Nightly News, 20/20, Nightline), National Public Radio, CNN, and CBS TV. Professor Mayer frequently comments on real estate for Bloomberg Television and CNBC.
Professor of Economics, School of International Public Affairs, Columbia University
For the past 25, Robert Mundell has been a professor of economics at Columbia University in New York. The author of numerous works and articles on economic theory of international economics, he is known as the father of the theory of optimum currency areas. Mundell formulated what became a standard international macroeconomics model, and he was a pioneer of the theory of the monetary and fiscal policy mix. He also reformulated the theory of inflation and interest, was a codeveloper of the monetary approach to the balance of payments, and was an originator of supply-side economics. He has written extensively on the history of the international monetary system and played a significant role in the founding of the Euro.
Professor Mundell has lectured widely in North and South America, Europe, Africa, Australia and Asia. He has been an adviser to a number of international agencies and organizations including the United Nations, the IMF, the World Bank, the Government of Canada, several governments in Latin America and Europe, the Federal Reserve Board and the U.S. Treasury. In 1970, he was a consultant to the Monetary Committee of the European Economic Commission, and from 1972 to 1973 a member of the nine consultants to the commission that prepared a report in Brussels on European monetary integration. He was a member of the Bellagio-Princeton study group on International Monetary Reform from 1964 to 1978 and chairman of the Santa Colomba Conferences on International Monetary Reform between 1971 and 1987. He has also written extensively on the "transition" economies and in 1997 cofounded the Zagreb Journal of Economics.
In 1999, Mundell was awarded the Nobel Memorial Prize in Economic Science. He has also received the Jacques Rueff Medal and Prize in the French Senate. In 1997, he became a distinguished fellow of the American Economic Association, and in 1998, he was made a fellow of the American Academy of Arts and Science. Mundell has received honorary degrees and professorships in several universities in North America, Europe, and Asia.
Professor of Finance and Economics and Executive Director and Co-founder, Initiative for Policy Dialogue, Columbia Business School
Nobel Laureate in Economics, former Senior Vice President and Chief Economist at the World Bank, former Chairman of the Council of Economic Advisors to U.S. President
Professor Stiglitz accepted a joint appointment to a chaired professorship at Columbia Business School, the Graduate School of Arts and Sciences (in the Department of Economics) and the School of International and Public Affairs in the spring of 2001. He was the first Joel M. Stern Faculty Scholar at Columbia Business School from Fall 1999 until Spring 2001. From 1997 to 2000, he served as the World Bank's Chief Economist and Senior Vice President, Development Economics. Prior to that, he served on President Clinton's economic team as a member of the U.S. Council of Economic Advisors from 1993 to 1995 and as its Chairman from 1995 to 1997.
Stiglitz is a renowned scholar and teacher of a new branch of economics that he created, the "Economics of Information." He also helped pioneer such pivotal concepts as theories of adverse selection and moral hazard, which have now become standard tools of policy analysts, as well as economic theorists. Recognized around the world as a leading economic educator, he has written textbooks that have been translated into several dozen languages.
Stiglitz was a Fulbright Scholar and a Tapp Junior Research Fellow at Cambridge University in 1970. He became a fellow of the Econometric Society at the age of 29 and is a member of the National Academy of Science. He is also the recipient of the prestigious John Bates Clark Medal, awarded every two years to the American economist under the age of 40 who has made the most significant contributions to the subject. In 2001, he was awarded the Nobel Prize in Economics for the analysis of markets with asymmetric information.
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