Investment Management Workshop

Faculty Profiles

The Investment Management Workshop is taught by Harvard Business School faculty who are skilled educators, groundbreaking researchers, award-winning authors, and leading authorities in the investment management field. As board members, consultants, and field researchers, they have a wealth of real-world expertise. One of the workshop's greatest benefits is having access to the faculty members who wrote the majority of the cases discussed and have relationships with many of the case protagonists, who regularly participate in the workshop as guest speakers.

Randolph B. Cohen teaches the "Investment Management" course in the elective curriculum of the MBA Program and co-teaches "Asset Pricing II" in the PhD program. Professor Cohen's main research focus is the interface between the actions of institutional investors and price levels in the stock market. He has also researched the identification of top investment managers and prediction of manager performance. His articles include "Judging Fund Managers by the Company They Keep" (with J. Coval and L. Pastor) in the Journal of Finance and "Money Illusion in the Stock Market: The Modigliani-Cohn Hypothesis" (with T. Vuolteenaho and C. Polk) in the Quarterly Journal of Economics, both forthcoming, as well as "The Value Spread" (with T. Vuolteenaho and C. Polk) in the Journal of Finance.

Joshua D. Coval is Robert G. Kirby Professor of Business Administration at Harvard Business School. His research focuses on the efficiency of security prices and examination of rational and behavioral explanations of mispricing. His current research investigates the structured credit market and how investor reliance on ratings and unsound pricing models led to the spectacular rise and collapse thereof. His research has been featured in the Journal of Finance, Journal of Financial Economics, Journal of Political Economy, Review of Financial Studies, Journal of Business, and Journal of Corporate Finance, as well as The Economist, the Wall Street Journal, The New York Times, the Chicago Tribune, Time, Money Magazine, and the Financial Times. His research awards include the 2000 and 2005 Smith-Breeden Prize for the best paper in the Journal of Finance.

Kenneth A. Froot, André R. Jakurski Professor of Business Administration, teaches courses in investment management, capital markets, international finance, and risk management and has served as a Director of Research at HBS. His research on a wide range of topics in finance, risk management, and international markets has been published in many journals and books. He is editor of the Journal of International Financial Management and Accounting and associate editor of the Journal of International Economics, The Financing of Catastrophe Risk, Foreign Direct Investment, and The Transition in Eastern Europe,Vols. 1 and 2. Professor Froot also organizes the Insurance Working Group at the National Bureau of Economic Research.

Robin Greenwood teaches behavioral finance and value investing at Harvard Business School. His research investigates the effects of investor demand on asset prices, as well as the implications of investor demand for corporate financing and investment. His recent research on investor activism has been profiled in the Wall Street Journal, CNBC, and the Harvard Business Review, and was the subject of his testimony at a U.S. Congress Subcommittee Hearing on investor activism. His work on stock price manipulation in Japan anticipated the downfall of Livedoor and was profiled in the Wall Street Journal.

André F. Perold is the George Gund Professor of Finance and Banking at Harvard Business School and faculty chair of this program. His research is focused on asset allocation policies of endowments and pension funds, the structure and evolution of the investment management industry, and risk management and implementation efficiency within investment organizations. His teaching is focused primarily in investment management and capital markets, and he has received many awards for teaching excellence. He has held a variety of senior positions at HBS, and he is a director of The Vanguard Group and Board Chairman of Unx. Professor Perold is a founder and chair of the Investment Committee of HighVista Strategies, an investment firm that manages a broadly diversified and fully integrated portfolio of marketable and alternative assets. He serves on the editorial board of the Financial Analysts Journal.

Erik Stafford is an associate professor of business administration at Harvard Business School. Previously, he was a research analyst at Capital Economics. Professor Stafford's research efforts are concentrated in empirical finance. He has received the Merton Miller Prize from the Journal of Business for a paper that he co-wrote with Mark Mitchell, and the Smith-Breeden Prize from the Journal of Finance for a paper co-written with Mark Mitchell and Todd Pulvino. Professor Stafford has a BA in finance and economics from the University of Maryland and a PhD in finance from the University of Chicago's Graduate School of Business.

Luis M. Viceira, George E. Bates Professor of Business Administration, teaches investment management and capital markets in the MBA and doctoral programs at Harvard Business School. His research focuses on asset allocation strategies for long-term investors, both individuals and institutions, in the face of changing interest rates, risk premia, and risk. His book, Strategic Asset Allocation, (with J. Campbell) received the TIAA-CREF Paul Samuelson Award in 2003. Professor Viceira is also the author of multiple articles published in leading academic finance journals, including the Journal of Finance and the Financial Analysts Journal. His research has received numerous awards, including the 2005 Graham and Dodd Award and the 2004 Prize for Financial Innovation of the Q-Group, Inquire Europe, and Inquire U.K. Professor Viceira is a research associate at the National Bureau of Economic Research and a research fellow at NETSPAR.