- Key Initiatives
- Faculty & Research
- Big Data for Better Business seminars
- No Free Lunch Seminar Series
- Annual News and Finance Conferences
- Transparency Conference: At What Speed and Cost?
- Systemic Risk Conferences
- Networking Receptions
- Financial Career Events
- 2011-2014 Annual Program for Financial Studies Conferences
The Program for Financial Studies is governed by a seventeen-member academic advisory board responsible for the intellectual leadership of the program. Working together, board members identify opportunities for collaboration across the School’s academic divisions, evaluate opportunities for new initiatives, and make recommendations relating to the allocation of research funds.
Assistant Professor of Business (Finance)
Director of the NewTechnologies in Finance Initiative
Professor Simona Abis joined Columbia Business School in 2017. She holds a PhD from INSEAD. Before joining the PhD program Simona worked as a quantitative researcher for a systematic hedge fund. Her research interests span the fields of information economics, empirical and theoretical asset pricing, financial econometrics, microeconomics, Bayesian learning, machine learning, mutual funds and hedge funds. Overall Simona is interested in the impact of technology on financial markets. Her current research focuses particularly on the impact of technological change on investment management through the rise of quantitative investment.
Mark N. Broadie
Carson Family Professor of Business (Decision, Risk, and Operations)
Professor Broadie’s research focuses on risk management, the pricing of derivative securities, and portfolio management. He is on the editorial board of several journals and is the vice chairman of Enterprise Risk Management Institute International (ERM-II), which promotes standard and best practices in enterprise risk management. He has received numerous research and teaching awards, and he teaches the course Security Pricing: Models and Computation. Professor Broadie has worked as a consultant for numerous financial firms and gives seminars to academics and practitioners worldwide.
Professor Broadie received a BS in OR/IE and Mathematics from Cornell University and a PhD in Operations Research from Stanford University.
Charles W. Calomiris
Director of the Future of Banking and Insurance Initiative
Henry Kaufman Professor of Financial Institutions (Finance)
Professor Calomiris' research and teaching span the areas of banking, corporate finance, financial history, and monetary economics. He is also a Professor at Columbia’s School of International and Public Affairs and a Research Associate of the National Bureau of Economic Research. He is a member of the Shadow Financial Regulatory Committee, the Shadow Open Market Committee, the Financial Economists Roundtable, and the Task Force on Property Rights at the Hoover Institution. He has held other positions at the Council on Foreign Relations, the American Enterprise Institute, and the Pew Trusts. He also served on the International Financial Institution Advisory Commission, a US Congressional commission that advised the U.S. government on the reform of multilateral institutions in 1999-2000. In 2011, he was the Houblon-Norman Senior Fellow at the Bank of England.
Professor Calomiris received a BA in Economics from Yale University and a PhD in Economics from Stanford University.
William von Mueffling Professor of Business; Chair of Finance Division
From 1996 to 2006, Professor Daniel was at the Kellogg School of Management at Northwestern University, where he was the John and Helen Kellogg Distinguished Professor of Finance (on leave from 2004-2006). Previously, he served on the faculties of the University of Chicago and the University of British Columbia. Between 2004 and 2010, Professor Daniel was with the Quantitative Investment Strategies group at Goldman Sachs Asset Management. In 2005, he became a managing director and head of the QIS equity research effort. He became a co-chief investment officer in 2009.
Professor Daniel's academic research, both theoretical and empirical, has been primarily in the areas of behavioral finance and asset pricing. In addition to other awards, his academic papers received the 1997 and 1999 Smith-Breeden awards for the best paper in the Journal of Finance. His papers have been reprinted in several books. He also received the Sidney J. Levy Teaching Award for 1996-1997 and 2000-2001 at the Kellogg School.
Professor Daniel is a research associate at the National Bureau of Economic Research. He has served as an associate editor for the Journal of Finance, as a director of the American Finance Association, and as a director of the Western Finance Association. Kent received a B.S. with honors in Physics from the California Institute of Technology in 1981 and an M.B.A. from UCLA in 1987. He received his Ph.D. in Finance from UCLA in 1992.
Director of the Risk Management Initiative
Assistant Director of the News and Finance Initiative
Jack R. Anderson Professor of Business (Decision, Risk, and Operations)
Professor Glasserman's research and teaching address risk management, the pricing of derivative securities, Monte Carlo simulation, statistics and operations. Prior to joining Columbia, Glasserman was with Bell Laboratories; he has also held visiting positions at Princeton University, NYU, and the Federal Reserve Bank of New York. Professor Glasserman serves on the editorial boards of Finance & Stochastics, Mathematical Finance, the Journal of Computational Finance, and the SIAM Journal on Financial Mathematics. He chairs the Education Committee of PRMIA, the Professional Risk Managers International Association. Professor Glasserman was senior vice dean of Columbia Business School in 2004-2008 and served as interim director of the Sanford C. Bernstein & Co. Center for Leadership and Ethics in 2005-2007.
Professor Glasserman received an AB in Mathematics from Princeton University and a PhD in Applied Mathematics from Harvard University.
Lawrence R. Glosten
Director of the Financial Markets Regulation Initiative
S. Sloan Colt Professor of Banking and International Finance (Finance)
Professor Glosten is also co-director of the Program in the Law and Economics of Capital Markets at Columbia Law School and Columbia Business School and is an adjunct faculty member at the Law School. He has been at Columbia since 1989, before which he taught at the Kellogg Graduate School of Management at Northwestern University, and has held visiting appointments at the University of Chicago and the University of Minnesota. He has published articles on the microstructure and industrial organization of securities markets; the relationship between venture capitalists and entrepreneurs; evaluating the performance of portfolio managers and asset pricing. His work on electronic exchanges in the Journal of Finance won a Smith Breeden Distinguished Paper Prize. He has served as an editor of the Review of Financial Studies, associate editor of the Journal of Finance and serves on several other editorial boards. He has been a consultant for the New York Stock Exchange, Justice Department, and SEC and has served on the NASDAQ Economic Advisory Board.
Professor Glosten received his AB from Occidental College and his PhD in Managerial Economics from Northwestern University.
Trevor S. Harris
Assistant Director of the Future of Banking and Insurance Initiative
Arthur J. Samberg Professor of Professional Practice
Professor Harris' research and practical experience has covered most areas of the use of accounting information for valuation, investment and management decisions, with a particular focus on global aspects. He originally joined the Columbia Business School faculty in 1983, and was the Jerome A. Chazen Professor of International Business, Director of the Chazen Institute of International Business and Chair of the Accounting Department, prior to joining Morgan Stanley as a Managing Director and Head of the Global Valuation and Accounting Team in 2000. He rejoined the faculty of Columbia Business School in July 2008 and was appointed as The Arthur J. Samberg Professor of Professional Practice. He has taught the core courses in financial and managerial accounting, and electives in corporate financial reporting and international financial statement analysis. He created a new elective course in Spring 2009 titled Fundamental Analysis for Investment & Management Decisions: A Practical Guide. He was the recipient of the Margaret Chandler Award for Commitment to Excellence in teaching EMBA class of 1998 and 2001, the Chazen Institute Prize for Innovation in Teaching, 1996, and the Singhvi Prize for Excellence in Teaching, 1985. He is co-Director of Columbia's Center for Excellence in Accounting and Security Analysis. He has published widely on valuation and accounting issues, in both academic and practitioner journals. He has made presentations at over 200 conferences, institutes and universities around the world.
Geoffrey M. Heal
Director of the Climate Change and Finance Initiative
Donald C. Waite III Professor of Social Enterprise
Professor Heal is noted for contributions to economic theory and resource and environmental economics. Author of eighteen books and about two hundred articles, he is a Fellow of the Econometric Society, past Managing Editor of the Review of Economic Studies, Past President of the Association of Environmental and Resource Economists, recipient of its prize for publications of enduring quality and a Life Fellow, recipient of the 2013 Best Publication Prize of the European Association of Environmental and Resource Economists, a Director of the Union of Concerned Scientists and a founder and Director and chairman of the Board of the Coalition for Rainforest Nations, developers of the REDD policy for reducing deforestation by awarding carbon credits for forest conservation. Recent books include Nature and the Marketplace, Valuing the Future, When Principles Pay and Whole Earth Economics (forthcoming).
Professor Heal chaired a committee of the National Academy of Sciences on valuing ecosystem services, was a Commissioner of the Pew Oceans Commission, was a coordinating lead author of the IPCC’s Fifth Assessment Report, was a member of President Sarkozy’s Commission on the Meaurement of Economic Performance and Social Progress, was a member of the advisory board for the World Bank’s 2010 World Development Report and the United Nations Environment Program’s 2011 Human Development Report, and acts as an advisor to the World Bank on its Green Growth project. He is also a Director of Public Business, a foundation that promotes in-depth public interest journalism and a member of the Advisory Board of Green Seal.
He has been a principal in two start-up companies, a consulting firm and a software and telecommunications company, and until recently was a member of the Investment Committee of a green private equity group. He teaches MBA courses on “Current Developments in Energy Markets,” “Business and Society: Doing Well by Doing Good?” and “The Business of Sustainability,” teaches a doctoral course on advanced microeconomic theory, and advises doctoral students interested in sustainability.
Laurie Simon Hodrick (emeritus)
Founding Director of the Program for Financial Studies
A. Barton Hepburn Professor of Economics in the Faculty of Business (Finance)
Professor Hodrick is known for her ground-breaking research on corporate financial decisions, with a particular interest in share repurchases and dividends, takeovers, and equity offerings. She has been awarded numerous research awards and grants, including the National Science Foundation Presidential Young Investigator Award. She has also received many awards for teaching excellence, including Columbia University’s Presidential Teaching Award in 2006 and the Singhvi Prize for Scholarship in the Classroom at Columbia Business School three times (1997, 2005, and 2006). From 2006-2008, Professor Hodrick was a managing director at Deutsche Bank, where she was global head of alternative investment strategies. She served as a Director/Trustee, Merrill Lynch Investment Managers, from 1997-2006.
Professor Hodrick received a BA in Economics from Duke University and a PhD in Economics from Stanford University.
Nomura Professor of International Finance (Finance)
Professor Hodrick joined the Columbia Business School in 1996 where he has been the Academic Director of the Jerome A. Chazen Institute of International Business from 1997-2002 and the Senior Vice Dean from 2002-2004. He is a research associate of the National Bureau of Economic Research. His previous academic appointments include the Kellogg Graduate School of Management at Northwestern University and Carnegie-Mellon University.
Professor Hodrick’s research explores the empirical implications of theoretical asset pricing models that generate time-varying risk premiums in the markets for equities, bonds, and foreign currencies. His research has been supported by several grants from the National Science Foundation. He teaches international finance, and the second addition of his textbook, International Financial Management, co-authored with Geert Bekaert, was published in September.
Professor Hodrick received an AB in Public and International Affairs from Princeton University and a PhD in Economics from the University of Chicago.
Robert W. Lear Professor of Finance and Economics (Finance)
Senior Vice Dean, Columbia Business School
Professor Jones joined the faculty at Columbia Business School in 1997. Professor Jones studies the structure of securities markets, liquidity, and trading costs, and he is particularly noted for his research on short sales, algorithmic trading, and the variation in liquidity over time. His published articles appear in outlets ranging from the Journal of Finance to Barron’s. Jones has served as the visiting economist at the New York Stock Exchange, and for several years he has been a visiting scholar at the Federal Reserve Bank of New York. Jones has also been on the faculty at Princeton University, and prior to doing graduate work at the University of Michigan, he was an investment banking analyst at Merrill Lynch. At Columbia, Jones regularly teaches “Debt Markets,” a popular elective course targeted to MBA students intending to work in fixed income, debt capital markets, or investment banking, and he has received the Singhvi Prize for scholarship in the classroom.
Professor Jones received an SB in Mathematics from MIT and a PhD in Finance from the University of Michigan School of Business Administration.
Assistant Director of the Future of Banking and Insurance Initiative
Associate Professor of Business
Professor Khan’s research focuses on the usefulness of financial reporting, standard setting and regulatory enforcement. His research has explored the contribution of fair value accounting in financial crises and how bank disclosures can be used to better predict credit risk of banks and local economic activity. Professor Khan was awarded American Accounting Association’s Competitive Manuscript Award for his paper on fair value accounting’s contribution to systemic risk in the banking industry. His research interests include financial reporting by financial institutions, debt contracting, and financial reporting regulation and their enforcement. At Columbia Business School, Professor Khan teaches financial accounting in the MBA program, a doctoral level class on banking research, and regularly participates in executive education.
Professor Khan received his PhD in Business Administration from the University of Washington in 2010. Prior to the PhD, he obtained a master in accounting from Syracuse University and worked in the Corporate Banking division of Hong Kong and Shanghai Banking Corporation (HSBC) Bank.
Assistant Professor of Business (Finance)
Director of the NewTechnologies in Finance Initiative
Professor Anton Lines currently conducts research in the areas of empirical asset pricing, asset management, information economics and market microstructure. His recent work examines fund manager skill, strategic trading, and the impact of institutional investor’s incentive contracts on the prices of the assets they hold. He earned a master’s degree from the London School of Economics and a PhD from London Business School before joining Columbia Business School in 2017.
Faculty Director of the Program for Financial Studies; Director of the News and Finance Initiative
Associate Professor of Professional Practice
Mr. Mamaysky is an associate professor of professional practice at Columbia Business School, and the director of the News and Finance research initiative at the Business School’s Program for Financial Studies. He was formerly head of the Systemic Risk Group at Citigroup and a member of the firm's Risk Executive Committee. Previous to that, he was senior portfolio manager in Citi Principal Strategies, where he co-managed the relative value credit book. Before joining Citigroup, he held positions with Old Lane, Morgan Stanley, and Citicorp. He was also an assistant professor of finance at the Yale School of Management during the period 2000–02.
His research interests are in asset pricing, market frictions, and the role of information in financial markets. His research has appeared in leading academic journals, and he has presented at numerous academic and professional conferences. Mamaysky earned his PhD in finance from the Massachusetts Institute of Technology under the supervision of Jiang Wang and Andrew Lo. He also holds a BA in economics as well as BS and MS degrees in computer science from Brown University.
M. Suresh Sundaresan
Chase Manhattan Bank Foundation Professor of Financial Institutions (Finance)
Faculty Director, India Business Initiative (IBI)
Professor Sundaresan’s current research focuses on default risk and how it affects asset pricing and sovereign debt securities. He works on corporate bankruptcy, the role of collateral in interest rate swaps, recovery rates, and interest rates in microloans. Sundaresan has worked as a consultant for Morgan Stanley and Ernst and Young and has conducted training programs for leading investment banks including Goldman Sachs, Morgan Stanley, CSFB, and Lehman Brothers. He is the author of the textbook Fixed-Income Markets and Their Derivatives and teaches courses on debt markets and advanced derivatives.
Professor Sundaresan received a BE in Mechanical Engineering from the University of Madras, India, and an MS in Finance and PhD in Finance from the Graduate School of Industrial Administration, Carnegie-Mellon University.
A. Barton Hepburn Professor of Economics
Assistant Director, News and Finance Initiative
Paul Tetlock is a Professor of Business in the Finance division at Columbia Business School. Before joining Columbia in 2008, he was an assistant professor at the University of Texas at Austin from 2004 to 2008 and a visiting assistant professor at Yale University in 2007-08. He received his Ph.D. in economics from Harvard University in 2004. Professor Tetlock's research interests include behavioral finance and asset pricing. His research is published in top finance journals, including the Journal of Finance and Review of Financial Studies, and featured in popular publications, such as The Economist and The Wall Street Journal. One area of his research examines how firms' stock market prices respond to the linguistic content of news stories. His 2007 study on the impact of negative words, such as "flaw" and "ruin", won the Smith-Breeden Prize for the best Journal of Finance article in asset pricing.