academic finance journals, was an editor of the Review of Financial Stud-
ies, and is the founding editor of the International Review of Finance. He
has served as a director of the American Finance Association, the Asia Pa-
cific Finance Association, the Western Finance Association and the Finan-
cial Management Association. Professor Titman has won a number of
awards for his research excellence, including the Batterymarch fellowship
in 1985, which was given to the most promising assistant professors of fi-
nance, and the Smith Breeden prize for the best paper published in the Jour-
nal of Financein 1997. In addition, in 2001 he was inducted as a Fellow of
the Financial Management Association. Professor Titman has published
numerous articles on both investments and corporate finance and coau-
thored a leading advanced corporate finance textbook entitled “Financial
Markets and Corporate Strategy.”
Robert W. Vishny is the Eric J. Gleacher Distinguished Service Professor
of Finance at the University of Chicago Graduate School of Business where
he has taught since 1985. He is also a founding partner of LSV Asset Man-
agement, an institutional value equity money management firm. Vishny has
previously served as director of the program in corporate finance at the Na-
tional Bureau of Economic Research as well as a trustee of the College Re-
tirement Equities Fund (CREF). He has published extensively in the areas of
corporate finance, corporate governance, law and finance, and behavioral fi-
nance. He is a fellow of the American Academy of Arts and Sciences.
Kent Womackis an associate professor of Finance at the Tuck School of
Business at Dartmouth College. He received his Ph.D. from Cornell Univer-
sity and began his academic career at Tuck in 1994. He is also a graduate of
Yale University (B.A., 1978) and Stanford University (M.B.A., 1982). Before
academia, Kent was a vice president at Goldman, Sachs & Co. and, earlier,
a CPA with Price Waterhouse. His research focuses on the value of sell-side
security analysis, security analysts’ conflicts of interest, and the underwrit-
ing process. He is a co-editor of FEN Educator.
Richard Zeckhauseris Frank P. Ramsey Professor of Political Economy at
the John F. Kennedy School of Government, Harvard University. His entire
academic career has been at Harvard. He graduated summa cum laude from
the College in 1962, was a junior fellow of the Society of Fellows from
1965–68, received a Ph.D. in economics in 1968, then served as a junior fac-
ulty member until appointed as a full professor in 1972. He teaches courses
on economics and analytic methods (Kennedy School), risk ( joint Kennedy
& Law Schools), and regulation ( joint Kennedy & Law Schools). Zeck-
hauser has been elected to membership in the Institute of Medicine of the
National Academy of Sciences, and as a fellow of the Association for Public
Policy and Management, the Econometric Society, and the American Acad-
emy of Arts and Sciences. He is a research associate of the National Bureau
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