Alexander Ljungqvist
Alexander Ljungqvist | |
---|---|
Born | Hamburg, Germany |
Residence | United States |
Nationality | Swedish |
Occupation | Professor |
Employer | New York University |
Board member of | mAbxience |
Website | http://pages.stern.nyu.edu/~aljungqv/ |
Alexander Ljungqvist is a Swedish economist, educator, researcher, writer, and speaker. He is a professor of finance at New York University Stern School of Business where he holds the Ira Rennert chair of finance and entrepreneurship. His areas of expertise include corporate finance, investment banking, initial public offerings, entrepreneurial finance, private equity, venture capital, corporate governance, and asset pricing. Professor Ljungqvist teaches MBA and executive courses in private equity and venture capital and a PhD course in corporate finance.[1][2]
Biography
Dr. Ljungqvist received an MSc in economics and business from Lund University in Sweden and his MA, MPhil, and DPhil degrees in economics from Nuffield College at Oxford University. After teaching for five years at Oxford University's Said Business School and Merton College, where he held the Bankers Trust Fellowship, Dr. Ljungqvist joined NYU in 2000 and received tenure in 2005. He has held visiting appointments at Harvard Business School, Northwestern University's Kellogg School of Management, London Business School, the University of Sydney, Tokyo University, National University of Singapore, and Cambridge University, where he held the Sir Evelyn de Rothschild Fellowship.[2]
Starting in 2014, Dr Ljungqvist serves as the Director of NYU’s Salomon Center. He was previously Director of Research of NYU’s Berkley Center for Entrepreneurial Studies.[2]
From 2008 to 2014, Professor Ljungqvist served as Editor of the Review of Financial Studies, currently the leading scholarly journal in financial economics.[3] He is also a Research Associate of the National Bureau of Economic Research in Cambridge,[4] a Research Fellow of the Centre for Economic Policy Research in London,[5] a Founder and Senior Academic Fellow of the Asian Bureau of Financial and Economic Research in Singapore,[6] and a Fellow of the Research Institute of Industrial Economics in Stockholm (IFN).[7]
Business Experience
Dr. Ljungqvist currently serves on the Nasdaq Listing Council, on the World Economic Forum's Council of Experts overseeing the "Alternative Investments 2020" project, and on the board of mAbxience, a European biotech company. Previously, he served on a World Economic Forum working group tasked with "Rethinking financial innovation" and on the UK Department for Business Panel of Experts overseeing the 2014 review of the UK equity markets. In the 2000s, he designed alternative investment strategies for Deutsche Bank Securities on Wall Street. Between 1995 and 2000, he was a senior consultant with OXERA Ltd where he advised corporate clients on questions of regulatory economics and corporate strategy. He has consulted for the European Central Bank, the World Bank, Catalano Gallardo & Petropoulos LLP, British Gas, Transco, British Telecom, United Utilities plc, Stagecoach plc, Severn Trent plc, Tradepoint plc, Australian Gas, Telstra, among others.[2]
Honors and Awards
- 2015 - Mitsui Distinguished Visiting Scholar, University of Michigan
- 2014 - Distinguished Lecture, Institute for Advanced Studies, Hong Kong
- 2014 - Emerald Citations of Excellence Award
- 2014 - Award for the Best Paper in Asset Pricing, SFS Cavalcade
- 2014 - Charles River Associates Award for the Best Paper on Corporate Finance, WFA
- 2013 - Founding Senior Academic Fellow, Asian Bureau of Finance and Economic Research
- 2013 - Rising Star of Finance Award
- 2013 - Glucksman Award, NYU
- 2012 - Keynote speaker, Coller Institute’s Private Equity Findings Symposium, London
- 2012 - Keynote speaker, Singapore International Finance Conference
- 2012 - Conference Chair, Asian Finance Association meetings, Taipei
- 2012 - Opening keynote speaker, Asian Finance Association meetings, Taipei
- 2012 - Dean’s Distinguished Speaker, The Hong Kong Polytechnic University
- 2011 - Ewing Marion Kauffman Prize Medal for Distinguished Research in Entrepreneurship
- 2011 - Research Associate, NBER
- 2011 - Emerald Citations of Excellence Award
- 2011 - Keynote speaker, Kauffman Foundation Symposium, Denver
- 2011 - Keynote speaker, Asian Finance Association meetings, Macau
- 2011 - Opening keynote speaker, Finance and Accounting Forum, Brisbane
- 2011 - Keynote speaker, New Year’s Conference, WHU Otto Beisheim School of Management
- 2011 - Sir Evelyn de Rothschild Fellow, Cambridge University
- 2010 - Inaugural Sir Evelyn de Rothschild Lecture, Cambridge University
- 2010 - Keynote speaker, EFM Symposium on Venture Capital, Montreal
- 2010 - Sir Evelyn de Rothschild Fellow, Cambridge University
- 2009 - Ira Rennert Endowed Chair in Finance and Entrepreneurship, NYU
- 2009 - Argentum Best Paper Prize, European Finance Association meetings, Bergen
- 2009 - Teaching Excellence Award, NYU
- 2009 - Keynote speaker, Asian Finance Association meetings, Brisbane
- 2009 - Keynote speaker, XVII Foro de Finanzas meetings, Madrid
- 2009 - Sir Evelyn de Rothschild Fellow, Cambridge University
- 2008 - Glucksman Award, NYU
- 2008 - Best Paper Award in Financial Markets, FMA meetings, Dallas
- 2007 - Research Professor of Finance, NYU
- 2007 - Barclays Global Investors Prize for Best Paper, Sydney
- 2007 - Glucksman Award, NYU
- 2007 - FIRN Visitor, Australia
- 2005 - Nominated for “Professor of the Year” Award, NYU
- 2005 - Keynote speaker, Canadian Investment Review, Conference on Alternative Investments
- 2005 - Research Fellow, CEPR
- 2004 - Charles Schaefer Faculty Fellow, NYU
- 2003 - Charles Schaefer Faculty Fellow, NYU
- 2003 - Glucksman Award, NYU
- 2002 - CDC Award for Best Paper, NYU
- 2002 - Glucksman Award, NYU
- 1998 - Oxford University “Best MBA Elective Teacher” Award
- 1995 - Research Affiliate, CEPR
- 1993 - Royal Bank of Canada Award
- 1991 - Jubilee Prize of the Lund Academic Society[8]
Significant Scholarships
- 1994 - Nuffield College Third Year Scholarship, Oxford
- 1994 - ESRC Research Award (for studies at Oxford)
- 1993 - Dr. Marcus Wallenberg Scholarship (for studies at Oxford)
- 1993 - Citibank Scholarship (for studies at Oxford)
- 1992 - ESRC Studentship (declined)
- 1992 - Dr. Marcus Wallenberg Scholarship (for studies at Oxford)
- 1992 - Citibank Scholarship (for studies at Oxford)
- 1990 - Dr. Marcus Wallenberg Scholarship (for studies at Oxford)
- 1990 - Erik Nylander Scholarship (for studies at Lund University)
- 1989 - Michael Hansen College Scholarship (for studies at Lund University)
- 1989 - Erik Nylander Scholarship (for studies at Lund University)[8]
Publications
Professor Ljungqvist has written more than thirty articles, monographs, and working papers. He has published articles in leading scholarly journals, including the Journal of Finance, the Review of Financial Studies, and the Journal of Financial Economics.[9]
- Ljungqvist, A. & W. Qian (2014). How Constraining Are Limits to Arbitrage?. NBER Working Paper.
- Back, K.; T. Li & A. Ljungqvist (2014). Liquidity and Governance. NBER Working Paper.
- Asker, J. and J. Farre-Mensa, and A. Ljungqvist (2014). Corporate Investment and Stock Market Listing: A Puzzle?. NBER Working Paper.
- Heider, F. & A. Ljungqvist (2014). As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from State Tax Changes. NBER Working Paper.
- Farre-Mensa, J. & A. Ljungqvist (2014). Do Measures of Financial Constraints Measure Financial Constraints?. NBER Working Paper.
- Balakrishnan, K., M. Billings, B. Kelly, and A. Ljungqvist (2014). Shaping Liquidity: On the Causal Effects of Voluntary Disclosure. Journal of Finance.
- Hochberg, Y.; A. Ljungqvist & A. Vissing-Jørgensen (2014). Informational Hold-up and Performance Persistence in Venture Capital. Review of Financial Studies.
- Cornelli, F.; Z. Kominek & A. Ljungqvist (2013). Monitoring managers: Does it matter?. Journal of Finance.
- Ljungqvist, A. & B. Kelly (2012). Testing Asymmetric-Information Asset Pricing Models. Review of Financial Studies.
- Ljungqvist, A. (2012). Disruptive Innovation: Are Stock Exchanges Under Threat?. World Economic Forum.
- Ljungqvist, A. & J. Asker (2010). Competition and the Structure of Vertical Relationships in Capital Markets. Journal of Political Economy.
- Ljungqvist, A.; Y. Hochberg & Y. Lu (2010). Networking as a Barrier to Entry and the Competitive Supply of Venture Capital. Journal of Finance.
- Ljungqvist, A.; F. Marston & W. J. Wilhelm (2009). Scaling the Hierarchy: How and Why Investment Banks Compete for Syndicate Co-Management Appointments. Review of Financial Studies.
- Brown, S.J., M. Kacperczyk, A. Ljungqvist, A. Lynch, L. Pedersen, and M. Richardson (2009). Hedge Funds in the Aftermath of the Financial Crisis. Restoring Financial Stability: How to Repair a Failed System (Wiley).
- Ljungqvist, A.; F. Marston & C. Malloy (2009). Rewriting History. Journal of Finance.
- Ljungqvist, A. & B. Kelly (2008). The Value of Research. CEPR Working Paper.
- Ljungqvist, A.; F. Marston, L. Starks & K. Wei, H. Yan (2007). Conflicts of Interest in Sell-side Research and the Moderating Role of Institutional Investors. Journal of Financial Economics.
- Ljungqvist, A.; G. Chemla & M. A. Habib (2007). An Analysis of Shareholder Agreements. Journal of the European Economic Association.
- Ljungqvist, A.; Y. Hochberg & Y. Lu (2007). Whom You Know Matters: Venture Capital Networks and Investment Performance. Journal of Finance.
- Ljungqvist, A. (2007). IPO underpricing. North-Holland Handbook of Corporate Finance.
- Ljungqvist, A.; V. Nanda & R Singh (2006). Hot Markets, Investor Sentiment, and IPO Pricing. Journal of Business.
- Ljungqvist, A.,F. Cornelli and D. Goldreich (2006). Investor Sentiment and Pre-Issue Markets. Journal of Finance.
- Ljungqvist, A., F. Marston and W.J. Wilhelm (2006). Competing for Securities Underwriting Mandates: Banking Relationships and Analyst Recommendations. Journal of Finance.
- Ljungqvist, A. & M. A. Habib (2005). Firm Value and Managerial Incentives. Journal of Business.
- Ljungqvist, A. & W. J. Wilhelm (2005). Does Prospect Theory Explain IPO Market Behavior?. Journal of Finance.
- Ljungqvist, A.; M. Richardson & D. Wolfenzon (2005). The Investment Behavior of Buyout Fund Managers. NBER Working Paper.
- Ljungqvist, A., L. Benveniste, W. J. Wilhelm, and X. Yu (2003). Evidence of Information Spillovers in the Production of Investment Banking Services. Journal of Finance.
- Ljungqvist, A. & W. J. Wilhelm (2003). IPO Pricing in the Dot-com Bubble. Journal of Finance.
- Ljungqvist, A.; T. J. Jenkinson & W. J. Wilhelm (2003). Global Integration of Primary Equity Markets: The Role of U.S. Banks and U.S. Investors. Review of Financial Studies.
- Ljungqvist, A. & M. Richardson (2003). The Cash Flow, Return and Risk Characteristics of Private Equity IPOs. NBER Working Paper.
- Ljungqvist, A. & W. J. Wilhelm (2002). IPO Allocations: Discriminatory or Discretionary?. Journal of Financial Economics.
- Ljungqvist, A. (2002). Conflicts of Interest and Efficient Contracting in IPOs. NYU Working Paper.
- Ljungqvist, A. & M. A. Habib (2001). Underpricing and Entrepreneurial Wealth Losses in IPOs: Theory and Evidence. Review of Financial Studies.
- Ljungqvist, A. & T. J. Jenkinson (2001). The Role of Hostile Stakes in German Corporate Governance. Journal of Corporate Finance.
- Ljungqvist, A. & T. J. Jenkinson (2001). Going Public: The Theory and Evidence on How Companies Raise Equity Finance - Second Revised Edition. Oxford University Press.
- Ljungqvist, A. & M. A. Habib (1998). Underpricing and IPO Proceeds: A Note. Economics Letters.
- Ljungqvist, A. (1997). The Pricing of Initial Public Offerings-Further Evidence from Germany. European Economic Review.
- Ljungqvist, A. & T. J. Jenkinson (1996). Going Public: The Theory and Evidence on How Companies Raise Equity Finance. Oxford University Press.