Dr. Stewart Myers

Professor

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Biography

Stewart C. Myers is the Robert C. Merton (1970) Professor of Financial Economics, Emeritus at MIT Sloan School of Management. He is a past President of the American Finance Association and a Research Associate at the National Bureau of Economic Research, as well as a principal at the Brattle Group, Inc. Myers is widely recognized for his textbook 'Principles of Corporate Finance,' often referred to as the 'bible' of financial management. His research interests focus on the valuation of real financial assets, corporate finance, and the financial aspects of government regulation of businesses. He is particularly known for his introduction of key theories such as the trade-off and pecking order theories of capital structure, and he emphasizes the importance of real options in corporate finance. Among his influential papers are studies on adjusted present value, capital allocation in banking and insurance, payout policy, and moral hazard in financing decisions. Myers has served as a director of Entergy Corporation and CAT Ltd. and as a manager for the Cambridge Endowment for Research in Finance. He possesses an AB from Williams College and both an MBA and a PhD from Stanford University. His current research explores theoretical models of long-run capital investment dynamics, the efficient allocation of risk capital, and the valuation of real options. Myers has received numerous honors including the Onassis Prize in Finance for his significant contributions to the field and was appointed a Research Fellow at the European Corporate Governance Institute.

Research Interests

Experience

Professor

— Present

MIT Sloan School of Management • Cambridge, MA

Robert C. Merton (1970) Professor of Financial Economics, Emeritus. Conducts research and teaches courses in finance and economics.

Awards

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Onassis Prize in Finance

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Jaime Fernández de Araoz Corporate Finance Award