Daniel Wolfenzon
Nomura Professor of International Finance
Finance
Joined CBS in 2008
Office:
1122
Kravis
Phone:
212-851-1803
E-mail:
[email protected]
Fax:
212-662-8474
Curriculum Vitae
Biography
Daniel Wolfenzon is the Stefan H. Robock Professor of Finance and Economics at Columbia Business School. He received a Masters and a PhD in economics from Harvard University and holds a BS in economics and a BS in mechanical engineering from MIT. Professor Wolfenzon previously taught at the University of Michigan, the University of Chicago and NYU. He is also a Faculty Research Fellow at the National Bureau of Economic Research. His research interests are in corporate finance and organizational economics. He has studied control sharing in small firms, the effects of investor protection on ownership concentration, and the structure of business groups around the world. His most recent research focuses on family firms. He has examined the consequences of family succession on firm performance and also the importance of managerial talent in family controlled firms. His work has been published in top economic and finance journals such as the Quarterly Journal of Economics, the Review of Economic Studies, the Journal of Finance, and the Journal of Financial Economics. Professor Wolfenzon received the Jensen Prize (second place) for best paper on corporate finance and organizations published in the Journal of Financial Economics both in 2002 and 2005.
Teaching
Fall 2021
Fall 2020
Fall 2019
Fall 2018
Columbia Caseworks cases
Chocolat Cordon Rouge: A Capital Budgeting Review
(2013)
Coauthor(s): Paul Ingram, Daniel Wolfenzon
General Motors Capital Structure and the Costs of Financial Distress
(2012)
Coauthor(s): Trevor Harris, Daniel Wolfenzon, Andrew Hertzberg, Daniel Paravisini
Research
Journal articles
Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data
In Review of Economic Studies
(2015)
Coauthor(s): Philipp Schnabl, Daniel Wolfenzon
Governance Problems in Closely-Held Corporations
In Journal of Financial and Quantitative Analysis
(2011)
Coauthor(s): Venky Nagar, Kathy Petroni, Daniel Wolfenzon
The structure and formation of business groups: Evidence from Korean chaebols
In Journal of Financial Economics
(2011)
Coauthor(s): Heitor Almeida, Sang Yong Park, Marti G. Subrahmanyam, Daniel Wolfenzon
Inside the family firm: The role of families in succession decisions and performance
In Quarterly Journal of Economics
(2007)
Coauthor(s): Morten Bennedsen, Francisco Perez-Gonzalez, Daniel Wolfenzon
A theory of pyramidal ownership and family business groups
In Journal of Finance
(2006)
Coauthor(s): Heitor Almeida, Daniel Wolfenzon
Should business groups be dismantled? The equilibrium costs of efficient internal capital markets
In Journal of Financial Economics
(2006)
Coauthor(s): Heitor Almeida, Daniel Wolfenzon
Corporate governance, economic entrenchment and growth
In Journal of Economic Literature
(2005)
Coauthor(s): Randall Morck, Daniel Wolfenzon, Bernard Yeung
The effect of external finance on the equilibrium allocation of capital
In Journal of Financial Economics
(2005)
Coauthor(s): Heitor Almeida, Daniel Wolfenzon
Investor protection and equity markets
In Journal of Financial Economics
(2002)
Coauthor(s): Andrei Shleifer, Daniel Wolfenzon
The balance of power in closely held corporations
In Journal of Financial Economics
(2000)
Coauthor(s): Morten Bennedsen, Daniel Wolfenzon
Chapters
The Governance of Family Firms
In Corporate Governance
(2010)
Coauthor(s): Morten Bennedsen, Daniel Wolfenzon
Working papers
Do CEOs matter?
(2011)
Coauthor(s): Morten Bennedsen, Francisco Perez-Gonzalez, Daniel Wolfenzon
Estimating the Value of The Boss: Evidence from CEO Hospitalization Events
(2011)
Coauthor(s): Morten Bennedsen, Francisco Perez-Gonzalez, Daniel Wolfenzon
The Investment Behavior of Buyout Funds: Theory and Evidence
In Finance Working Paper No. 174/2007
(2007)
Coauthor(s): Alexander Ljungqvist, Matthew Richardson, Daniel Wolfenzon
Case studies
General Motors: Capital Structure and the Costs of Financial Distress
(2011)
Coauthor(s): Daniel Wolfenzon, Trevor Harris, Andrew Hertzberg