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  1. Directory
  2. Faculty
  3. Daniel Wolfenzon

Daniel Wolfenzon

Nomura Professor of International Finance
Finance Division
Daniel Wolfenzon
Areas of Expertise
Corporate Finance, Fundamental Investment Analysis
Contact
Office: 1122 Kravis
E-mail: [email protected]
Links
Personal Website
Curriculum Vitae

Daniel Wolfenzon is the Nomura Professor of International Finance 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 Review of Economic Studies, 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.

Joined CBS
2008

All Activities

  • Research
  • Teaching
  • Awards and Honors
  • Press
  • CaseWorks
  • Journal articles
  • Working papers
  • Articles
  • Books
  • Chapters
Journal Article
Schnabl, Philipp and Daniel Wolfenzon
. “Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data.”
Review of Economic Studies
vol.
82
, (January 01, 2015):
333
-
359
.
Explore Further about Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data
Download PDF on Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data
Journal Article
Almeida, Heitor, Sang Yong Park, Marti G. Subrahmanyam, and Daniel Wolfenzon
. “The structure and formation of business groups: Evidence from Korean chaebols.”
Journal of Financial Economics
vol.
99
, (January 01, 2011):
447
-
475
.
Explore Further about The structure and formation of business groups: Evidence from Korean <em>chaebols</em>
Download PDF on The structure and formation of business groups: Evidence from Korean <em>chaebols</em>
Journal Article
Nagar, Venky, Kathy Petroni, and Daniel Wolfenzon
. “Governance Problems in Closely-Held Corporations.”
Journal of Financial and Quantitative Analysis
vol.
46
, (January 01, 2011):
943
-
966
.
Explore Further about Governance Problems in Closely-Held Corporations
Download PDF on Governance Problems in Closely-Held Corporations
Journal Article
Bennedsen, Morten, Francisco Perez-Gonzalez, and Daniel Wolfenzon
. “Inside the family firm: The role of families in succession decisions and performance.”
Quarterly Journal of Economics
vol.
122
, (May 01, 2007):
647
-
691
.
Explore Further about Inside the family firm: The role of families in succession decisions and performance
Journal Article
Almeida, Heitor and Daniel Wolfenzon
. “A theory of pyramidal ownership and family business groups.”
Journal of Finance
vol.
61
, (January 01, 2006):
2637
-
2680
.
Explore Further about A theory of pyramidal ownership and family business groups
Journal Article
Almeida, Heitor and Daniel Wolfenzon
. “Should business groups be dismantled? The equilibrium costs of efficient internal capital markets.”
Journal of Financial Economics
vol.
79
, (January 01, 2006):
99
-
144
.
Explore Further about Should business groups be dismantled? The equilibrium costs of efficient internal capital markets
Journal Article
Almeida, Heitor and Daniel Wolfenzon
. “The effect of external finance on the equilibrium allocation of capital.”
Journal of Financial Economics
vol.
75
, (January 01, 2005):
133
-
164
.
Explore Further about The effect of external finance on the equilibrium allocation of capital
Journal Article
Morck, Randall, Daniel Wolfenzon , and Bernard Yeung
. “Corporate governance, economic entrenchment and growth.”
Journal of Economic Literature
vol.
43
, (January 01, 2005):
655
-
720
.
Explore Further about Corporate governance, economic entrenchment and growth
Download PDF on Corporate governance, economic entrenchment and growth
Journal Article
Shleifer, Andrei and Daniel Wolfenzon
. “Investor protection and equity markets.”
Journal of Financial Economics
vol.
66
, (January 01, 2002):
3
-
27
.
Explore Further about Investor protection and equity markets
Journal Article
Bennedsen, Morten and Daniel Wolfenzon
. “The balance of power in closely held corporations.”
Journal of Financial Economics
vol.
58
, (January 01, 2000):
113
-
140
.
Explore Further about The balance of power in closely held corporations
Working Paper
Bennedsen, Morten, Francisco Perez-Gonzalez, and Daniel Wolfenzon
. Do CEOs matter? January 01, 2011.
Explore Further about Do CEOs matter?
Download PDF on Do CEOs matter?
Working Paper
Bennedsen, Morten, Francisco Perez-Gonzalez, and Daniel Wolfenzon
. Estimating the Value of The Boss: Evidence from CEO Hospitalization Events. January 01, 2011.
Explore Further about Estimating the Value of The Boss: Evidence from CEO Hospitalization Events
Download PDF on Estimating the Value of The Boss: Evidence from CEO Hospitalization Events
Working Paper
Ljungqvist, Alexander, Matthew Richardson, and Daniel Wolfenzon
. The Investment Behavior of Buyout Funds: Theory and Evidence. June 01, 2007.
Explore Further about The Investment Behavior of Buyout Funds: Theory and Evidence
Download PDF on The Investment Behavior of Buyout Funds: Theory and Evidence
Chapter
Bennedsen, Morten and Daniel Wolfenzon
. “The Governance of Family Firms.” In
Corporate Governance
, edited by
R. Anderson and H. Kent Baker
,
371
-
389
.
Hoboken, NJ
:
Wiley
, 2010.
Explore Further about The Governance of Family Firms
  • Courses
  • Case Studies
Course
B6301: Foundations of Valuation
View Course on Foundations of Valuation
Course
B6302: Corporate Finance (Half-Term)
View Course on Corporate Finance (Half-Term)
Course
B9346: Corporate Valuation and Financial Modeling
View Course on Corporate Valuation and Financial Modeling
Course
B9305: (PhD) Finance Pre-Thesis Seminar
View Course on (PhD) Finance Pre-Thesis Seminar
Case Study
Wolfenzon, Daniel, Trevor Harris , and Andrew Hertzberg
. General Motors: Capital Structure and the Costs of Financial Distress. 
Columbia University
:
CaseWorks
, 2011.
Explore Further about General Motors: Capital Structure and the Costs of Financial Distress
  • Awards & Honors
  • In the Media
  • Articles
Article

Revamping the Finance Curriculum to Prepare Future Leaders

Read More about Revamping the Finance Curriculum to Prepare Future Leaders
Article

Welcome the New Faculty Members

Read More about Welcome the New Faculty Members
  • CaseWorks
Case ID
140301

Chocolat Cordon Rouge: A Capital Budgeting Review

How will the top management team at a Paris-based confectioner allocate a predetermined capital expenditure budget over several prospective projects?

View Case on Chocolat Cordon Rouge: A Capital Budgeting Review
Case ID
112101

General Motors Capital Structure and the Costs of Financial Distress

What was apparent from GM's capital structure and liquidity prior to GM's declaration of bankruptcy in 2009 that indicated that the company was heading down this path?

View Case on General Motors Capital Structure and the Costs of Financial Distress

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