Donna Hitscherich

Senior Lecturer in Discipline in Business

Finance and Economics


Private Equity Program

BS, St. John''s, 1981; JD, 1984; MBA, Columbia, 1990

Joined CBS in 1992

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Donna Hitscherich

313 Uris




Teaching and research interest

Professor Hitscherich joined the School as an adjunct faculty member in 1992. She currently serves as a Senior Lecturer in the Discipline of Business for Finance and Economics and as Director of the Private Equity Program. Professor Hitscherich''s courses include Corporate Finance and the elective courses Business Law, Mergers and Acquisitions and Advanced Corporate Finance. She teaches both in the MBA and Executive MBA programs. In 2002, she was nominated for the Dean''s Award for Innovation in the MBA Curriculum for her presentation of the Advanced Corporate Finance course. She has been the recipient of the Executive MBA Commitment to Excellence Award from the Berkeley EMBA graduating classes in each of 2013, 2012, 2011 and 2010. She has also served as a lecturer in law and accounting at Columbia Law School. From 1988 through 1990, Hitscherich was an assistant professor of law at St. John''s University School of Law, where she taught Federal Securities Regulation and Legal Ethics. Prior to her present position as a Senior Lecturer at Columbia, Hitscherich had a career in investment banking, holding positions at CS First Boston, J. P. Morgan & Co. Incorporated and Banc of America Securities. At J. P. Morgan, she was a founding member of the takeover defense team and a senior member of the advisory review committee, which was responsible for all of the M&A fairness opinions issued by the company. As a managing director in the mergers and acquisitions group of Banc of America Securities, she was secretary of the firm''s fairness opinion committee review and a major contributor to the firm''s training programs for managing directors and associates. Prior to her investment banking career, Hitscherich was a corporate lawyer at Skadden, Arps, Slate, Meagher & Flom. As a founding member of Gnosis Advisors LLC, a financial education advisory firm, she developed and created materials for the Practising Law Institute - sponsored The Pocket MBA for Lawyers: Everything You Need to Know About Finance and The Pocket MBA for Lawyers: Understanding the Investment Banker''s Role. She has served as an expert witness and provided litigation support in several complex securities litigations respecting various matters, including valuation, due diligence, custom and usage in the finance industry, and financing alternatives. She was a member of the St. John''s Law Review, and she is admitted to the Bar in the State of New York.

Journal articles

Banker Fees and Acquisition Premia for Targets in Cash Tender Offers: Challenges to the Popular Wisdom on Banker Conflicts In Journal of Empirical Legal Studies (2007)
Author(s): Charles Calomiris, Donna Hitscherich

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Under Armour Protect this IPO or Sale to Strategic Bidder?: Fall 2010
Author(s): Donna M. Hitscherich

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J.Crew Group, Inc. The Second Time Around or Another Holiday Shopper?: Fall 2011
Author(s): Donna M. Hitscherich

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Bright Horizons Family Solutions, Inc.: A Great Deal, or Room for Improvement in a Bid by a Strategic Acquiror: Fall 2009
Author(s): Donna M. Hitscherich

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Working Papers

No Free Shop: Why Target Companies in MBOs and Private Equity Transactions Sometimes Choose Not to Buy "Go Shop" Options (2013)
Author(s): Adonis Antoniades, Charles Calomiris, Donna Hitscherich

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