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Neng Wang, the Chong Khoon Lin Professor of Real Estate at Columbia Business School, has been awarded a 2013 Research Grant from the School’s Jerome A. Chazen Institute of International Business to further his work on dynamic entrepreneurial finance.
Recognizing entrepreneurship as necessary for sustainable economic growth and societal welfare, Wang’s research fills a void in the scholarly understanding of how to encourage productive entrepreneurial activities, how to advise entrepreneurs to better manage risk, and how to take advantage of international entrepreneurial opportunities. Specifically, Wang is seeking to develop analytically tractable dynamic models of entrepreneurship activities.
Wang’s recent work on this topic, “A Unified Model of Entrepreneurship Dynamics,” was the lead article in the October 2012 issue of the prestigious Journal of Financial Economics. His continuing work will focus on questions including how to determine the appropriate adjustment for the cost of capital to reflect entrepreneurs’ lack of diversification, why entrepreneurs have poor access to credit, and how to think about risk taking and risk management in an integrated dynamic framework.
The Chazen Institute provides research grants to faculty members of the Columbia Business School for promising projects on global business and the economy. Grants are awarded for research projects, book, preparation, and research workshops. Wang also receives ongoing, generous research support from the Paul Milstein Center for Real Estate.