Stewart Myers

Robert C. Merton (1970) Professor of Financial Economics
Professor of Finance

Biography | Selected Publications

Stewart Myers

Stewart C. Myers is the Robert C. Merton (1970) Professor of Finance at the MIT Sloan School of Management. 

His research is primarily concerned with the valuation of real and financial assets, corporate financial policy, and the financial aspects of government regulation of business. Myers is the author of influential research papers on many topics, including adjusted present value, rate of return regulation, pricing and capital allocation in insurance, real options, and moral hazard and information issues in capital structure decisions. He is the co-author of the classic textbook, Principles of Corporate Finance, now in its 11th edition.

Myers is past president of the American Finance Association and an elected Fellow of the Financial Management Association. He also is a Research Associate of the National Bureau of Economic Research; a principal of the Brattle Group, Inc.; and a director of Entergy Corporation.

Myers holds an AB from Williams College and an MBA and a PhD from Stanford University.

Current Research Focus:  Myers's current research focuses on three areas. (1) Theoretical models of the long-run dynamics of capital investment, payout and borrowing decisions by mature public corporations.  The models have important implications for corporate governance as well as corporate finance generally. (2) Efficient allocation of risk capital by banks and other financial firms. (3) Applied work on the valuation of real options.  The valuation results indicate that standard tests of capital structure theories are mis-specified; Myers is designing better tests.

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Contact Information
Office: E62-620
Tel: (617) 253-6696
Fax: (617) 258-6855
Support Staff
Name: Donna Cheung
Tel: (617) 253-9745
Group(s)

Research Center(s)

General Expertise
Banking; Corporate finance; Finance; Insurance; Pharmaceutical