Before Lehman's fall, the government played a relatively small direct role in financial markets. Now, the most important player in financial markets is the government.
"When you ask for feedback, make sure you get it and then don't push it away," Sallie Krawcheck '92 said in a discussion about the career paths of women executives.
When the stock market heads south do you ignore your bank account balance? Professor Nachum Sicherman discusses his research on the links between the ups and downs of the market and consumer behavior.
What long-term structural changes in financial intermediation will result from the subprime turmoil?
Transparency in credit markets may have unintended consequences.
Do different national codes turn bankruptcy into a strategic tool for companies? And how will changes in the U.S. bankruptcy code affect companies' borrowing behavior?
How can banks profit from financial models without being trapped in them? Research by two Columbia professors reveals how successful banks manage their modeling processes.
Should a single day’s work be worth $200,000? New research from Professor Maria Guadalupe finds links between high pay and high performance for chief executives.
Will President Obama's cap on executive pay hinder leadership at top firms? Professors Nahum Melumad and Sudhakar Balachandran share their views.
Any successful organization requires growth in order to stay competitive, but how does a comparatively small company continue to grow if it has a limited domestic market?
I’ve been working to have my novel turned into a movie for the past few years, and the process has revealed the truth behind both positive and negative film-industry stereotypes: it’s full of passive-aggressive people, but it does respect persistence.
Will the new credit card legislation fundamentally change the way consumers use credit or the way lenders dole it out? Assistant finance professor Enrichetta Ravina discusses the behavior of credit cardholders.
If the financial crisis taught business schools anything, it's that the curriculum can no longer turn a blind eye to pressing policy issues that impact business, says Professor Bruce Kogut.
"Your Business School years have coincided with an extraordinary time and now you have a huge opportunity," Paul Calello '87 of Credit Suisse told students in a recent lecture.
Internal discounts for buying divisions within companies may enhance the efficiency of market-based transfer pricing.
According to my new friend at Blackstone, restructuring has a short window of opportunity because, unlike the weather here in London, there are typically more sunny days than rainy days in any given market cycle.
Professor Ciamac Moallemi considers some of the unanswered questions regarding the May 6 stock market plunge.
What does the future hold for private equity? Dan Primack and David Snow, moderators at today's Private Equity and Venture Capital Conference, share their views.
On September 10, James P. Gorman '87 was selected as the new chief executive of Morgan Stanley.
Giving shareholders a say may not have as much impact on executive compensation as investors would like.
On August 3, Sallie Krawcheck '92 was named president of Global Wealth and Investment Management for Bank of America.
Lehman Brothers defied the death knell yesterday and CBS experts believe a Bear Stearns repeat is avoidable.
In general, CEOs related to a founder or large shareholder of a corporation underperform their peers, but some heirs make effective leaders. Is nepotism always harmful or can it be strategically advantageous?
Has the quantitative revolution in finance been misunderstood? A research symposium on December 4 explored the uses and misuses of financial models.
Things are busy at BlackRock this summer. There was a lot of acquisition in the early to mid 2000s, and now it’s time to really make those properties perform.
New research suggests that high-priced talent at the top may be justified in a globalized world.
By bringing transparency into the underlying fundamentals and risk characteristics of a business, regulators will be able to provide a more accurate and complete assessment of the related fundamentals and risks, says Professor Trevor Harris.
Charles Jones offers some simple advice for appraising the state of the ongoing credit crisis.
The Treasury has appointed a new overseer for executive compensation. How does this affect the debate on CEO pay? Accounting professor Sudhakar V. Balachandran shares his thoughts.
Alan Greenspan in Sunday’s FT said the recent financial crisis may be judged in retrospect as “the most wrenching since the end of the second world war.”
The Treasury and Fed should not ignore systemic risk just to limit moral hazard. But we cannot and should not try to protect every institution.
Smaller entities will have an advantage as leverage changes, Thomas Russo, the former vice chairman of Lehman Brothers, told students in a Community Forum last night. Read more of his remarks.
Risk disclosure decisions can have a direct impact on a firm’s cost of capital. When is it in managers’ best interests to voluntarily reveal information about firm-specific risk?
Monday, November 9, is the deadline for banks to apply for the Treasury's Capital Assistance Program. Chances are, none will sign up.
For investors to feel confident that borrowers will pay what they owe, a trust support must be developed.
Organizations need to think more critically about how strategic service initiatives affect operating costs.
The SEC has issued an emergency order prohibiting naked short selling in 19 financial stocks, but at most, this really just adds more hoops for brokers to jump through.
Donald Lehmann discusses Managing Customers as Investments, a new book in which he explains how to calculate and apply customer lifetime value.
If Jerry Springer had a show about business, this panel discussion might have been an early episode.
When market shocks occur, firms that have the financial resources to repurchase their own shares experience less volatility.
In December, financial behemoth Citigroup named Vikram Pandit, PhD ’86, chief executive officer—a big job any time, but a particularly challenging one for the embattled firm, buffeted by credit woes.
On March 21 I flew to Omaha — along with 150 of my classmates — to meet Warren Buffett, MS ’51, a man I have admired (some friends would say fanatically idolized) for close to 15 years.
Will suspending mark-to-market save the banks? The debate, which has been raging in the financial press for months, may finally be moving toward a resolution. What do you think about changing the rules?
In the late 1990s, Argentina adopted world-class bank regulation and welcomed the arrival of several large foreign banks. Did these changes make it easier for small firms to obtain funding?
Five years after graduation, Jackie Endriss Oberoi '04 has a successful career in finance that she finds both personally and professionally rewarding. What's the secret to her success?
Companies are often criticized for raising capital by selling mandatory convertible bonds that pay high interest rates, but the instruments can be a good way to shore up a firm’s finances.
After conducting a survey of very large corporations around the world, I discovered that a standard of best practices for employing risk management within a governance structure does not yet exist.
A new orientation lecture about the financial crisis was created this year to give students an overview of the causes and key issues of the crisis.
Jonathan Knee wants to bring back the traditional values of investment banking's early days -- before junk bonds, LBO funds and the Internet bubble changed everything.
To better understand the business environment in Italy, we attended a private equity conference, where we had the opportunity to meet with the U.S. Ambassador to Italy.
There has been a lot of emotionally charged rhetoric surrounding sovereign wealth funds. I just don’t buy it. Calls from politicians and the media for sovereign wealth fund regulation miss the larger point.
Before working at a venture capital company, I tried for years to figure out how to quickly determine if something is a venture capital investment or a private equity investment.
As many companies file their financial results this year, they will face the challenge of implementing FASB’s new 800-pound gorilla: recording assets and liabilities at fair value.
If you are planning to pursue a VC investment career after business school, a word of advice: get experience doing market sizing and practice, practice, practice.
Applying lessons from her research on Dutch auction stock repurchases to Google's IPO, Laurie Hodrick explains why she expects to see more firms using the Dutch-auction method to issue shares.
New research shows that less than 11 percent of executive officers in New York's top 100 public companies are women.
A lagging consumer appetite, not a tight market for lending, is the main cause of the plunge in exports during the global recession.
What direction is Henry R. Kravis '69 taking his private equity firm? In the cover story of BusinessWeek magazine he shares his vision for the future.
In March, Lukas Bauer ’09 and I worked with the First MicroFinanceBank of Tajikistan to assess the viability of providing commercial loans to small and medium enterprises.
Alan Greenspan’s implicit policy of low and stable inflation needs explicit adoption after he leaves the Fed.
Participating in this contest made me truly proud to attend Columbia. We brought to bear on our presentations certain ideas that are distinct to the approach to investing taught in some of the School's courses.
Professor John Donaldson remembers Pandit as a PhD student here at CBS.
New metrics provide a way to measure the growth and evolution of complex business groups.
A game reveals what lies beneath our most charitable impulse.
Cheryl Rathbun, a managing director at Citi, spoke with students in September about the future of financial regulation. Banking, she said, may start to look a little more retro.
It’s a striking claim: by giving money away, we make ourselves better off. Can this be true?
Gur Huberman examines why competition hasn't eliminated profits for money managers, and why mutual funds are still priced well below the value of their profits.
Bruce Kogut considers who should bear the burden of examining — and addressing — the consequences of financial innovation.
A provision in the stimulus package calls for limits on the hiring of H-1B visa holders. How will the provision affect students, and how is Columbia Business School responding?
Rotating loan officers makes them more likely to report bad news about their portfolios, leading to more accurate internal reporting for lenders.
New computer and information technologies not only increase productivity, they can transform entire organizations and industries.
A firm's income statement holds the clue for calculating the value of its hard-to-measure assets, according to new work from Professor Stephen Penman.
Participating in the Pershing Square Challenge is the type of experience you go to business school for. Where else in the world do you have the opportunity to pitch a stock to a panel of value investing legends?
The government takeover of Fannie and Freddie marks a stunning event in the historical legacy of these financial institutions.
"You should pursue the things you're inherently interested in. Look inside yourself for career advice, because that is important, wherever it might lead you." Read more about how Karen Kalina '94 built a career in finance that took her overseas.
Dean Glenn Hubbard addressed an all-school group about the near-term and long-term economic impact of the current news from Wall Street.
Firms in developed countries can compete with those in emerging economies by specializing at the high end of the quality scale.
How much should countries spend to avoid the uncertain risk of climate change?
A growing body of evidence suggests that when private equity enters an industry, growth and productivity follow.
By adding quantitative discipline to their number crunching, financial analysts may avoid the psychological biases that can lead to judgment errors.
Corruption — a major barrier to growth and development in poor countries — is difficult to define and even more difficult to measure. Creative research methods are shedding new light on its effects.
Shareholders are demanding more rights. What are the implications for corporate governance?
The expansion of the Fed’s lending has been extraordinary in scale and scope. But it is not the best response to the present credit crunch and may bring unwelcome side effects.
To meet the demands of risk and finance professionals, PRMIA (Professional Risk Managers’ International Association) and Columbia Business...
In today's rapidly changing economy, every executive needs to be able to master the language of finance and accounting, know what questions to ask...
In a community forum event on November 12, Buffett and Gates responded to student body questions on a variety of topics, including the economy, investing during an economic downturn and the fruitful careers and industries of the future. Read more...
Dean Glenn Hubbard was featured in the keynote interview at the Wall Street Journal’s first-ever Deal & Deal Makers Conference at the New York Stock Exchange on June 27. Read more...
Please join Wall Street analysts, investors, economists, and policy experts for: WALL STREET, REGULATION & BROADBAND: Assessing the Impact Washington Will Have on Jobs, Investment and U.S. Economic Recovery Wednesday, July 14, 2010 1:30 â?? 3:30 PM New York Law School 185 West Broadway (@ Leonard St.) New York, NY Read more...
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Prof. Kim discusses research co–conducted with Prof. Kogut that finds the technology stock market boom created an upward push in the normative expectation of executives’ compensation through social comparisons. Read more...
Michael Perelstein, adjunct professor of finance and economics at Columbia Business School, died Saturday, March 17.
The article notes Prof. Nissim’s research on the significance of dividends following Apple’s decision to make a dividend payment to its investors. Read more...
More than 750 professionals, academics, alumni, and students gathered on February 3, 2012 for the 18th Annual Private Equity and Venture Capital Conference. Columbia Business School's Private Equity and Venture Capital Club hosted the event, which focused on the emerging opportunities and challenges facing the industry through its theme, "Out of the Storm But Not Out of the Woods." Read more...
The article cites a study by Prof. Nissim and Vice Dean Ziv on dividend changes and future profitability, in light of Apple’s decision not to declare a dividend. Read more...
Incentives can worsen outcomes for firms needing financing Read more...
Prof. Jones discusses the Government Accountability Office’s (GAO) report on credit unions. Read more...
Erskine Bowles ’69, cochair of the National Commission on Fiscal Responsibility and Reform, addressed a capacity crowd of Columbia Business School students, faculty members, alumni, and industry professionals at the Inaugural Program for Financial Studies Conference, “Finance in a World of Uncertainties.”
MBA influencer blogger, Stacy Blackman, highlights the inaugural year of Columbia Business School’s Program for Financial Studies, led by Prof. Laurie Hodrick. Read more...
This month, Columbia Business School celebrates the extraordinary inaugural year of the Program for Financial Studies, a groundbreaking educational initiative developed by Laurie Hodrick, the A. Barton Hepburn Professor of Economics in the Faculty of Business. Read more...
In the Los Angeles Times, Prof. Laurie Hodrick explains why Apple and other U.S. companies amass cash, noting that “as the risk of a government default growsâ?¦the incentives for firms to finance with internally generated cash grows as well.” Read more...
Hedge funds are moderately leveraged, leverage is counter-cyclical to the leverage of banks and the finance sector, and hedge fund leverage was at its lowest during the financial crisis in 2008 Read more...
Research by Prof. Andrew Ang finds the average hedge fund to be moderately leveraged. Read more...
Professor Hodrick's accomplishments in the study of finance and economics, as well as her take on academia and business, are featured in the Financial Times' 'Ten Questions' column. Read more...
The Sanford C. Bernstein Center, in conjunction with Friedrich-Ebert-Stiftung, has produced a research report on Governance, Executive Compensation, and Excessive Risk in the Financial Services Industry, which addresses the latest academic research and industry best practices on corporate governance and compensation in the financial industry as well as the latest proposals for reform and regulation of these practices. Read more...
Gina Resnick, Assistant Dean and Managing Director, Career Management Center, discusses the better job market facing candidates interested in jobs in finance. Read more...
A team of Columbia MBA students earned the first-place award at the American Bankruptcy Institute's Corporate Restructuring Competition. Read more...
A proposal coauthored by Paul Calello '87, head of Credit Suisse's investment bank, to recapitalize failing banks with shareholders' and creditors' money is gaining momentum in Europe. Read more...
The Lang Center Welcomes the Incoming Columbia Community Business Program Class Read more...
Paul Milstein, leading New York real estate developer, philanthropist, and friend to the School, died on August 9. Read more...
The 16th Annual Private Equity and Venture Capital Conference was held on January 29, 2010. Read more...
Read the report on "The Quantitative Revolution and the Crisis: How Quantitative Financial Models Have Been Used and Misused." Read more...
Columbia Business School offered the Sixth Annual Restructuring Event on Wednesday, March 3, 2010 Read more...
A team of Berkeley-Columbia Executive MBA students took first place at the Northeast regional finals of the Venture Capital Investment Competition (VCIC), held on March 5 at New York University. Read more...
Summary Report available for the conference featuring Prof. Heizo Takenaka, "Coping with Crisis: Financial Policy in the U.S. and Japan" on 11/10. Read more...
Read more...
The Center on Japanese Economy and Business(CJEB) and The Program for Economic Research(PER) organized a conference titled "Coping with Crisis: Financial Policy in the U.S. and Japan" from 6:00 p.m. to 7:30 p.m. on Tuesday, November 10, 2009 at Columbia Business School. This was the inaugural event of CJEB's new program, "New Financial Architecture-Japan & the U.S." Read more...
Robert Amen ’73, the retired chairman and CEO of International Flavors and Fragrances, and Frank Zarb, chairman of Frank Zarb Associates, have joined Columbia Business School’s Executives in Residence Program. Read more...
The Lang Center Launches a Formal Mentorship Program for Student Entrepreneurs Read more...
On October 15, Columbia Business School's Private Equity Program presented the panel discussion: Changing Gears: Shifting the Global Auto Industry from "Push" to "Pull" Read more...
Columbia Business School is pleased to announce eight new members have joined the faculty for the 2009-10 academic year. Read more...
Prof. Andrew Ang discusses the impact government intervention had on Wall Street after the fall of Lehman Brothers. Read more...
On April 29th, Columbia Business School faculty, alumni and other prominent business leaders gathered at the Capital Club at the Dubai International Financial Centre (DIFC). Read more...
Over 700 alumni, professionals and students gathered to discuss emerging trends in the private equity and venture capital communities. Read more...
Prof. Partha Mohanram explains how leverage looks on a balance sheet. Read more...
In this op-ed Prof. Partha Mohanram explains why the balance sheet deserves more attention. Read more...
In a candid discussion, Pandit attributed the recent economic turmoil to severe global imbalances and outlined the strategy for Citigroup’s recovery. Read more...
“The core is essential to preparing our students to analyze, decide and lead in an increasingly complex and global business environment,” said Dean Glenn Hubbard. Read more...
For the second year in a row, CBS teams were awarded both first and second place for their corporate turnaround strategies in the Carl Marks Student Paper Competition. Read more...
Professor Charles Calomiris says selling shares to raise capital is the best way for banks to offset the riskiness of their portfolios. Read more...
Following the close of a difficult quarter, investors will be watching closely as Citigroup CEO Vikram Pandit ’86 continues his push to turn the company around. Read more...
Rejecting calls for Citigroup’s breakup, CEO Vikram Pandit ’86 has vowed to keep the world’s largest bank intact in order to preserve its wide international reach. Read more...
Alum Jeremy FitzGerald ’90 advises MBA graduates entering the job market not to fear natural market cycles. “It always feels uncomfortable, but you get some perspective on it once you’ve been through it a few times,” she says. Read more...
Commenting on the Treasury Department’s plan to overhaul the regulatory framework for the financial system, Professor David Beim points out the difficult reality of forcing institutions to merge. Read more...
Recent market turmoil has led some MBA students to consider jobs in corporate restructuring: “Sometimes a difficult market creates opportunities,” said Regina Resnick, assistant dean and managing director of the Career Management Center. Read more...
University trustee and Business School alumnus has won the top leadership position, following his recent promotion to chairman and CEO of the bank’s institutional clients group. Read more...
Tim Brandt ’09, Gary Kats ’08 and Stephen Walker ’09 won the University of Maryland’s first Mergers & Acquisitions Competition, topping a field of 10 MBA teams. Read more...
On Thursday, October 11, 2007, the Center on Japanese Economy and Business and the Japan Business Association of Columbia Business School cosponsored a zadankai (roundtable discussion) entitled “Issues in Japanese Pension Fund Management” Read more...
Building on the School’s many ties to the private equity industry, the new program will bring together students, alumni and prominent industry leaders. Read more...
Columbia MBA students’ turnaround strategies for Pier 1 Imports and Trump Entertainment Resorts earned two top awards at the 2007 Carl Marks Student Paper Competition. Read more...
Dean Glenn Hubbard examines effects of the corporate tax on the economy. Read more...
“Just because we have been the center of the world’s financial markets until now does not mean that we can afford to be complacent about prospects for the future,” said O’Neal. Read more...
Christian Lee ’07 discusses his Summer Fellowship in Afganistan. By by David Rosensweig ’07, Bottom Line. Read more...
A team of five MBA students who studied with Laura B. Resnikoff won a second-place award at an international student paper competition. Read more...
Laurie Simon Hodrick, professor in the Finance and Economics Division, has won a 2006 Presidential Teaching Award, a University-wide honor that recognizes Columbia?s outstanding professors. Read more...
By Amina Runyan-Shefa '06, Bottom Line. Read more...
Student Paper Featured in Top Mexican Newspaper Read more...
Professor Ray Horton moderated a panel of experts, representing stakeholders from institutional investors to unionized employees. The participants considered proposals, problems, reforms and solutions for moving past the scandals that continue to beset corporate America. Read more...
Glenn Hubbard, dean and Russell L. Carson Professor of Finance and Economics, leads discussion with new MBA students. Read more...
At fall orientation, Professor Geoffrey Heal and corporate leaders from the pharmaceutical and paper industries explored the tradeoffs between profitability and social responsibility Read more...
Commissioners Paul Atkins and Harvey Goldschmid of the Securities and Exchange Commission (SEC) join Dean Hubbard in a panel discussion. Read more...
Should corporations worry about their social impact? Or should they just go for profits and trust that everything else will fall into place? By Professor Geoffry Heal, Hermes. Read more...
By Ben Kornfeind '04, Bottom Line. Read more...
Read the paper online. Read more...
