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  1. Directory
  2. Faculty
  3. Donna Hitscherich

Donna Hitscherich

Senior Lecturer in Discipline in Business
Finance Division
Co-director
Private Equity Program
Bernstein Faculty Leader
Bernstein Center for Leadership and Ethics
Private Equity Program Co-Director
Private Equity Program Co-Director
Photo of Prof. Donna Hitscherich
Areas of Expertise
Corporate Finance
Contact
Office: 1154 Kravis
Phone: (212) 8540763
E-mail: [email protected]
Links
Curriculum Vitae

Professor Donna M. Hitscherich currently serves as a senior lecturer of Finance, director of the Private Equity Program, and a Bernstein Faculty Leader at the Sanford C. Bernstein & Co. Center for Leadership and Ethics at Columbia Business School. Professor Hitscherich’s courses include Corporate Finance as well as the elective courses Business Law, Mergers and Acquisitions, and Advanced Corporate Finance. 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 also received the Executive MBA Commitment to Excellence Award from the Berkeley-Columbia EMBA program graduating classes in 2010, 2011, 2012, and 2013 and the Commitment to Excellence Award for EMBA-Americas graduating classes in 2014 and 2017. She was also a BRIDGE Fellow for academic year 2014–2015—Building Relationships with Industry and Defining Graduate Education in Business (BRIDGE)—at Columbia Business School based on an endowed gift which the School allocates each year for faculty members who are working on new initiatives aimed at building relationships with industry practitioners.

Professor Hitscherich has also served as a lecturer in law and accounting at Columbia Law School. From 1988–1990, she 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, Professor Hitscherich had a career in investment banking, holding positions at CS First Boston, J.P. Morgan & Co. Inc., and Banc of America Securities. At J.P. Morgan, she helped found the takeover defense team and served as 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 review committee and a major contributor to the firm’s training programs for managing directors and associates. Prior to her investment banking career, Professor Hitscherich was a corporate lawyer at Skadden, Arps, Slate, Meagher & Flom.

In addition to an MBA from Columbia Business School, Professor Hitscherich received a BS and JD from St. John’s University and is a NYS certified paramedic.

Education
BS, St. Johns, 1981; JD, 1984; MBA, Columbia, 1990
Joined CBS
1992

All Activities

  • Research
  • Teaching
  • Awards and Honors
  • Press
  • CaseWorks
  • Journal articles
  • Working papers
  • Articles
  • Books
  • Chapters
Journal Article
Calomiris, Charles and Donna Hitscherich
. “Banker Fees and Acquisition Premia for Targets in Cash Tender: Challenges to the Popular Wisdom on Banker Conflicts.”
Journal of Empirical Legal Studies
vol.
4
, (December 01, 2007):
909
-
938
.
Explore Further about Banker Fees and Acquisition Premia for Targets in Cash Tender: Challenges to the Popular Wisdom on Banker Conflicts
Download PDF on Banker Fees and Acquisition Premia for Targets in Cash Tender: Challenges to the Popular Wisdom on Banker Conflicts
Journal Article
Calomiris, Charles and Donna Hitscherich
. “Banker Fees and Acquisition Premia for Targets in Cash Tender Offers: Challenges to the Popular Wisdom on Banker Conflicts.”
Journal of Empirical Legal Studies
vol.
4
, (December 01, 2007):
909
-
938
.
Explore Further about Banker Fees and Acquisition Premia for Targets in Cash Tender Offers: Challenges to the Popular Wisdom on Banker Conflicts
Download PDF on Banker Fees and Acquisition Premia for Targets in Cash Tender Offers: Challenges to the Popular Wisdom on Banker Conflicts
Working Paper
Antoniades, Adonis, Charles Calomiris , and Donna Hitscherich
. No Free Shop: Why Target Companies in MBOs and Private Equity Transactions Sometimes Choose Not to Buy "Go Shop" Options. January 01, 2013.
Explore Further about No Free Shop: Why Target Companies in MBOs and Private Equity Transactions Sometimes Choose Not to Buy "Go Shop" Options
Download PDF on No Free Shop: Why Target Companies in MBOs and Private Equity Transactions Sometimes Choose Not to Buy "Go Shop" Options
  • Courses
  • Case Studies
Course
B7457: Foundations of Private Equity
View Course on Foundations of Private Equity
Course
B7325: Mergers & Acquisitions
View Course on Mergers & Acquisitions
Course
B8325: Mergers & Acquisitions
View Course on Mergers & Acquisitions
Course
B8457: Foundations of Private Equity
View Course on Foundations of Private Equity
Course
B7755: Business Law
View Course on Business Law
Course
B8459: Foundations of Private Equity II
View Course on Foundations of Private Equity II
Course
B8399: Foundations of Business Law
View Course on Foundations of Business Law
Course
B8402: Foundations of Deal Law
View Course on Foundations of Deal Law
Case Study
Hitscherich, Donna
. UnderArmour-Protect This IPO or Sale to a Strategic Bidder?  2010.
Explore Further about UnderArmour-Protect This IPO or Sale to a Strategic Bidder?
  • Awards & Honors
  • In the Media
  • Articles
In the Media

Did Private Equity Kill Joann Fabrics? Maybe Not, but Experts Say Its Fingerprints Are at the Crime Scene

Fast Company
In the Media

How Private Equity Played a Role in Red Lobster and TGI Fridays Bankruptcies

CNBC
In the Media

Closing the Deal in the Classroom - and Beyond

Columbia Business Magazine
In the Media

Sequoia China Rebranding Is High-Stakes Leadership Test

Bloomberg
In the Media

Corporate America Has a Debt Problem...

CNBC
In the Media

Fintech founder parlayed connections for JPMorgan deal before fraud charges

Financial TImes
In the Media

Veterinary Practices Are Increasingly Corporately Owned, and Pets Owners Pay the Price

Observer
In the Media

As Musk Moves to Abandon Deal, Twitter Faces 'Worst Case Scenario'

The Washington Post
In the Media

Twitter Has Vowed to Sue Elon Musk. Here's What Could Happen in Court

National Public Radio
In the Media

Poison Pills: Why Companies Use the Self-Defense Strategy

Marketplace Radio
In the Media

Can Elon Musk Be Stopped from Taking Over Twitter?

CNN
In the Media

Moguls, Deals and Patagonia Vests: A Look Inside 'Summer Camp for Billionaires'

National Public Radio
In the Media

United's Unusual Plan to Sell $1 Billion of Stock

CNN
In the Media

Beyond Sliding Profits, Earnings Reports Tell More about the COVID-19 Economy

Marketplace Radio
In the Media

How SoftBank Is Putting Its Stamp on LatAm's Venture Capital Scene

Reuters
In the Media

Has the Big Corporate Unwind Gone Too Far?

The Wall Street Journal
In the Media

Why Private Equity Firms Are Hungry for Old-School Food Brands

Marketplace
In the Media

Toys R Us and Why the Retail Downturn Is All About Debt

Marketplace
In the Media

Trump trade war fears rattle Dow, beer buyers — and 5 more news stories affecting your money

MIC
Article

Youth About Business Camp 2025, Hosted by Private Equity Program at Columbia Business School

Read More about Youth About Business Camp 2025, Hosted by Private Equity Program at Columbia Business School
Article

October 2022 Report: Private Equity Talent

Read More about October 2022 Report: Private Equity Talent
Article

Private Equity Curriculum Pathway

Read More about Private Equity Curriculum Pathway
Article

Private Equity Program in Columbia Business Magazine Summer/Fall 2024

Read More about Private Equity Program in Columbia Business Magazine Summer/Fall 2024
Article

Closing the Deal in the Classroom– and Beyond

Read More about Closing the Deal in the Classroom– and Beyond
Article

October 2022 Report: Private Equity Talent

Read More about October 2022 Report: Private Equity Talent
Article

Donna Hitscherich Named Director of Private Equity Program

Read More about Donna Hitscherich Named Director of Private Equity Program
  • CaseWorks
Case ID
210302

The Battle for Skullcandy — It's Not Over 'Til It's Over

Should the chief investment officer of an event-driven merger arbitrage fund take a position in Skullcandy in the midst of a takeover battle?

View Case on The Battle for Skullcandy — It's Not Over 'Til It's Over
Case ID
210301

Material Adverse Effects: Victoria's Secret

Is Victoria's Secret a prudent investment for a female-lead private equity firm in the wake of an attempted quick exit by another PE firm during the COVID-19 pandemic?

View Case on Material Adverse Effects: Victoria's Secret
Case ID
200310

The Golden Ticket: MediPacket and the Drive to Exit

What option—an IPO, a sale to a financial buyer, or a sale to an industry acquirer—would allow the pharmaceutical manufacturer MediPacket to realize the best outcome for a value-maximizing exit?

View Case on The Golden Ticket: MediPacket and the Drive to Exit
Case ID
190306

The Foster-SmartServices Merger-LBO: A Perfect Deal or the Perfect Storm?

What should the 100 day plan be for two outsourced facilities management companies merging who were radically different in style and substance and longtime rivals?

View Case on The Foster-SmartServices Merger-LBO: A Perfect Deal or the Perfect Storm?
Case ID
110313

J.Crew Group, Inc. The Second Time Around or Another Holiday Shopper?

Should an event-driven merger arbitrage fund act on the early positive outcome of a recently announced buy-out deal for J.Crew?

View Case on J.Crew Group, Inc. The Second Time Around or Another Holiday Shopper?
Case ID
100311

Under Armour Protect this IPO or Sale to Strategic Bidder?

Should Nike make a strategic bid for Under Armour in an effort to derail a planned IPO?

View Case on Under Armour Protect this IPO or Sale to Strategic Bidder?
Case ID
90312

Bright Horizons Family Solutions, Inc.: A Great Deal, or Room for Improvement in a Bid by a Strategic Acquiror

As an investment bank prepares to advise a client on a competing bid for a child-care services company, how should the target and potential buyer be valued?

View Case on Bright Horizons Family Solutions, Inc.: A Great Deal, or Room for Improvement in a Bid by a Strategic Acquiror

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