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Personal Data:
Date of Birth: September 29, 1962
Marital Status: Married, two children
Citizenship: United States of America
Academic and Professional Appointments:
2015-present |
Visiting Fellow, Hoover Institution
Stanford University |
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2018-present |
A. Barton Hepburn Professor Emerita of Economics in the Faculty of Business |
2008-2017 |
A. Barton Hepburn Professor of Economics in the Faculty of Business |
2010-2015 |
Founding Director and Chair of the Advisory Board, Program for Financial Studies |
1998-2008 |
Professor of Finance and Economics |
1996-1998 |
Associate Professor of Finance and Economics
(with tenure) |
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Graduate School of Business, Columbia University |
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2021-present |
Independent Director
Andela |
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2020-present |
Independent Director
Roku |
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2017-present |
Independent Director
PGIM Investment Funds |
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2015-2021 |
Visiting Professor of Law
Rock Center for Corporate Governance Fellow, Stanford Law School |
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2019-2021 |
Independent Director
SYNNEX |
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2018-2020 |
Independent Director
Kabbage |
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2017-2018 |
Independent Director
Corporate Capital Trust |
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2015-2016 |
Visiting Scholar, Stanford Graduate School of Business
Stanford University |
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2012-2013 |
Visiting Scholar
Stanford University Graduate School of Business
Stanford Institute for Economic Policy Research |
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2006-2008 |
Managing Director, Global Head of Alternative Investment Strategies |
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Deutsche Bank |
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1999-2006 |
Independent Director/Trustee |
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Merrill Lynch Investment Managers |
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1992-1996 |
Associate Professor of Finance |
1988-1992 |
Assistant Professor of Finance |
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J. L. Kellogg Graduate School of Management Northwestern University |
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1991-1992 |
Arch W. Shaw National Fellow |
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Hoover Institution on War, Revolution and Peace |
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Stanford University |
Education:
June 1988 |
Ph.D., Economics, Stanford University
Dissertation: "Essays on Financial Structure and
Corporate Control" |
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May 1984 |
B.A., summa cum laude, Duke University (economics) |
Outside Activities:
2019- present |
Advisory Board member, private company |
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2011-2016,
2018-2019,
2022-present |
Consultant to a global financial advisory and asset management firm |
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2017-2018 |
Advisory Board member, private company |
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2016 |
Consulting expert on a securities litigation matter |
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2015 |
Consultant to a Fortune 100 Company |
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2012-2014 |
Consultant to a family business |
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2008-2009 |
Deutsche Bank Alternative Trading |
Academic Honors and Grants:
National Science Foundation Presidential Young Investigator
Award, 1991-1998
Lynde and Harry Bradley Foundation Grant, 1993-1994,
1994-1998
Smith Breeden Prize for Distinguished Paper in the Journal
of Finance in 1992 ("Dutch Auction Repurchases: An
Analysis of Shareholder Heterogeneity")
Roger F. Murray Award for Excellence in Quantitative
Research in Finance, presented by The Institute for Quantitative
Research in Finance, 1992
National Fellow, Hoover Institution on War, Revolution
and Peace, Stanford University, 1991-1992
Selected one of "Forty Under Forty," Crain's
Chicago Business, 1991
National Science Foundation Grant SES-8821666, "Dividends
and Corporate Financial Policy" (joint with Doug
Bernheim), 1989-1991
Trefftzs Award for Best Student Paper, presented by the
Western Finance Association, 1988 ("Share Repurchase
and Takeover Deterrence")
Phi Beta Kappa; Beta Gamma Sigma
Teaching Honors:
Presidential Award for Outstanding Teaching, Columbia University, 2006
Singhvi Professor of the Year for Scholarship
in the Classroom: Graduate School of Business, Columbia
University, 1997, 2005, 2006
Rated Outstanding Faculty at Columbia Business
School, Business Week, 2000, 2002, 2004
Rated Most Popular Teacher at Columbia Business
School, Business Week, 1998
Outstanding Professor of the Year: Kellogg Graduate School of Management, Northwestern University, 1991, Finalist 1994
Publications:
“The Interaction of Markets and Policy: A Corporate Finance Perspective,” 2020. In Strategies for Monetary Policy, edited by John H. Cochrane and John B. Taylor, Hoover Institution Press.
“Payment Systems and the Distributed Ledger Technology,” 2018. In The Structural Foundations of Monetary Policy, edited by Michael Bordo, John Cochrane, and Amit Seru, Hoover Institution Press.
"Liquidity: Considerations of a Portfolio Manager" (joint with Pam Moulton), 2009. Financial Management, Spring, 59-74.
"Synergies and Internal Agency Conflicts:
The Double-Edged Sword of Mergers" (joint with Paolo
Fulghieri), 2006. Journal of Economics & Management
Strategy, Vol. 15, No. 3, 549-576.
"Predicting Equity Liquidity" (joint
with Bill Breen and Bob Korajczyk), 2002. Management
Science, Vol. 48, No. 4, 470-483.
"Does Stock Price Elasticity Affect Corporate
Financial Decisions?" 1999. Journal of Financial
Economics, Vol. 52, No. 2, 225-256.
"Veblen Effects in a Theory of Conspicuous
Consumption" (joint with Doug Bernheim)*, 1996.
American Economic Review, Vol. 86, No. 3, 349-373.
"Influence Costs and Capital Structure" (joint
with Josef Zechner),* 1993. Journal of Finance, Vol.
48, No. 3, 975-1008.
"Dutch Auction Repurchases: An Analysis
of Shareholder Heterogeneity," * 1992. Journal
of Finance, Vol. 47, No. 1, 71-105.
"Share Repurchase and Takeover Deterrence,"*
1991. RAND Journal of Economics, Vol. 22, No. 1, 72-88.
"Shareholder Heterogeneity: Evidence and
Implications,"* 1991. American Economic Review,
Vol. 81, No. 2, 218-221.
"Cash Distributions to Shareholders" (joint
with John Shoven),* 1989. Journal of Economic Perspectives,
Vol. 3 No. 3, Summer, 129-140. Reprinted in The
Corporate Finance Reader, edited by Robert Kolb,
Kolb Publishing Company, 202-213, first edition.
"Share Repurchases and Acquisitions: An
Analysis of Which Firms Participate" (joint with
John Shoven),* 1988. In Corporate Takeovers: Causes
and Consequences, edited by Alan Auerbach, University
of Chicago Press, 191-220.
Comments on "Converting Corporations to
Partnerships through Leverage" by Myron S. Scholes
and Mark A. Wolfson,* 1990. In Taxes, Debt, and
Corporate Restructuring, edited by John Shoven
and Joel Waldfogel, The Brookings Institution, 196-200.
* Published as Laurie Simon Bagwell
Teaching Cases, Articles, and Published Teaching
Materials:
“Are Dual-Class Companies Harmful to Stockholders? A Preliminary Review of the Evidence” (joint with David J. Baker), Harvard Law School Forum on Corporate Governance and Financial Regulation, 2018.
“Please Add Me to Your Network: Microsoft’s 2016 Acquisition of LinkedIn,” 2017.
"Are U.S. Firms Really Holding Too Much Cash?" Stanford Institute for Economic Policy Research Policy Brief, July 2013.
"Four Princesses, Meet the Fantastic Four: Disney's 2009 Acquisition of Marvel," 2011. Columbia CaseWorks #110314.
"Don’t Be Evil: Google’s 2004 Dutch Auction IPO," 2009. Columbia CaseWorks #090327.
"Cash is King: Microsoft’s 2004 Cash Disbursement," 2008. Columbia CaseWorks #070302.
"The War of the Handbags: The Takeover Battle for Gucci Group N.V." (joint with Sean Carr and Robert Bruner), 2005. Darden Case No. UVA-F-1473.
"Walgreen Company, 1990: The Cash Distribution Decision," 2008. Columbia CaseWorks #080322.
"Dutch Auctions," Columbia Business School Ideas at Work, June 2005.
"Google’s IPO: A Dutch auction works, if you let it," Columbia Business School Hermes Magazine, Fall 2004.
Research Roundtable Discussion: The Diversification Discount, Financial Economics Network Educator, 2004.
Working Papers and Research in Progress:
“Take my Shoes, not my iPhone: Substitutability, Time, and the Endowment Effect” (joint with Timothy Joseph Kane), 2022, submitted for publication.
“Corporate Cash Holdings and Capital Allocation Decisions”
“The Economics of Elite Law Firms” (joint with Joseph A. Grundfest)
“The Blockchain and its Implications for Corporate and Securities Law and Practice” (joint with David J. Berger and Joseph A. Grundfest)
“Self-Selection and Stock Returns around Corporate Security Offering Announcements” (joint with Marie Dutordoir), Unpublished Working Paper, latest revision June 2015, currently being revised for resubmission to the Journal of Financial Economics.
Professional Activities:
Stanford Blockchain Research Center, Steering Committee member, 2022-present
External Reviewer, Duke in New York Financial Markets and Institutions Program, 2014
Coeditor, Journal of Economics & Management
Strategy, 2005-2010
FINRA Series 7 and 63 Certification, 2006-2008
Associate Editor, Journal of Finance, 2000-2003, Financial Management, 1999-2006
Advisory Editor, Social Sciences Electronic Publishing, Financial Economics Network
Educator: Courses, Cases, and Teaching Abstracts, 2000-2006, Financial Economics
Network Course Electronic Journal, 1998-2000
Program Committee, Western Finance Association
Meetings, 1996-2006
Program Committee, Financial Management Association
European Conference, 2005-2006
Nominated for Director, American Finance Association,
2004
Panelist, Financial Management Association Doctoral
Consortium, 2001
Recent Major Speeches:
2022 LaddHer Up, Enhancing Your Business and Financial Acumen
2022 Stanford Center for Blockchain Research on DAO Governance
2022 Andela All Hands Meeting
2021 Women of Roku (WoR) Conversation with Roku Board Members
2020 #GetOnBoard How Women Lead, Women on Boards event
2020 Guest Speaker in Stanford Law School Law 1049 Corporate Governance
2019 Stanford Directors’ College
2019 Stanford Law School Rock Center Program for Journalists
2019 Hoover Institution Strategies for Monetary Policy Conference
2019 Millennium Mams’
2019 Guest Speaker in Stanford Law School Law 1049 Corporate Governance
2018 Hoover Institution National Fellows Orientation
2018 Stanford Center for Blockchain Research
2018 Stanford Directors’ College
2018 Stanford Law School Rock Center Program for Journalists
2017 Columbia Women in Management Mentorship Kickoff
2017 David and Lyn Silfen Leadership Series, Columbia Business School
2017 Stanford Directors’ College
2017 Stanford Law School Rock Center Program for Journalists
2017 Hoover Institution Structural Foundations of Monetary Policy Conference
2017 Columbia Business School West Coast Trek Luncheon Speaker
Session Chair:
Five Star Conference on Research in Finance, 2008
Summer Meetings of The Western Finance Association,
1996, 1999, 2003
Winter Meetings of The Econometric Society, 1992
Discussant:
American Law & Economics Association Annual Meeting, 2015
Annual Conference on Financial Economics and
Accounting, 1995, 1997
Columbia/NYU Joint Conference, 1997
Fall NBER Corporate Finance Workshop, 2001, 2002
Five Star Conference on Research in Finance,
2004
Spring NBER Corporate Finance Workshop, 1995,
1997
Summer NBER Corporate Finance Workshop, 1998
Summer Meetings of The Western Finance Association,
1990, 1991, 1993, 1994, 1996, 1997, 1998
Winter Meetings of The American Economic Association,
1989
Winter Meetings of The American Finance Association,
1992, 1993, 1998, 2000, 2004, 2005
Winter Meetings of The Econometric Society, 1988