Daniel Wolfenzon

Stefan H. Robock Professor of Finance and Economics

Finance and Economics

Joined CBS in 2008

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Daniel Wolfenzon

Office
808 Uris

Phone
212-851-1803

E-mail
dw2382@columbia.edu

Fax
212-662-8474

Teaching and research interest

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 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.

Chapters

The Governance of Family Firms In Corporate Governance (2010)
Author(s): Morten Bennedsen, Francisco Perez-Gonzalez, Daniel Wolfenzon

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Journal articles

Governance Problems in Closely-Held Corporations In Journal of Financial and Quantitative Analysis (2011)
Author(s): Venky Nagar, Kathy Petroni, Daniel Wolfenzon

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The structure and formation of business groups: Evidence from Korean chaebols In Journal of Financial Economics (2011)
Author(s): Heitor Almeida, Sang Yong Park, Marti G. Subrahmanyam, Daniel Wolfenzon

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Inside the family firm: The role of families in succession decisions and performance In Quarterly Journal of Economics (2007)
Author(s): Morten Bennedsen, Francisco Pérez-González, Daniel Wolfenzon

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A theory of pyramidal ownership and family business groups In Journal of Finance (2006)
Author(s): Heitor Almeida, Daniel Wolfenzon

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Should business groups be dismantled? The equilibrium costs of efficient internal capital markets In Journal of Financial Economics (2006)
Author(s): Heitor Almeida, Daniel Wolfenzon

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Corporate governance, economic entrenchment and growth In Journal of Economic Literature (2005)
Author(s): Randall Morck, Daniel Wolfenzon, Bernard Yeung

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The effect of external finance on the equilibrium allocation of capital In Journal of Financial Economics (2005)
Author(s): Heitor Almeida, Daniel Wolfenzon

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Investor protection and equity markets In Journal of Financial Economics (2002)
Author(s): Andrei Shleifer, Daniel Wolfenzon

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The balance of power in closely held corporations In Journal of Financial Economics (2000)
Author(s): Morten Bennedsen, Daniel Wolfenzon

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CaseWorks

Chocolat Cordon Rouge: A Capital Budgeting Review : Summer 2013
Author(s): Paul Ingram, Daniel Wolfenzon

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General Motors Capital Structure and the Costs of Financial Distress: Spring 2012
Author(s): Trevor Harris, Daniel Wolfenzon, Andrew Hertzberg, Daniel Paravisini

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Working Papers

Do CEOs matter? Working Paper (2011)
Author(s): Morten Bennedsen, Francisco Pérez-González, Daniel Wolfenzon

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Estimating the Value of The Boss: Evidence from CEO Hospitalization Events Working Paper (2011)
Author(s): Morten Bennedsen, Francisco Perez-Gonzalez, Daniel Wolfenzon

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The Investment Behavior of Buyout Funds: Theory and Evidence Finance Working Paper No. 174/2007 (2007)
Author(s): Alexander Ljungqvist, Matthew Richardson, Daniel Wolfenzon

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Forthcoming Articles

Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data In Review of Economic Studies (2014)
Author(s): Daniel Paravisini, Veronica Rappoport, Philipp Schnabl, Daniel Wolfenzon

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