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Biography

Stanford Graduate School of Business
The Staehelin Family Professor of Finance

Research Statement

Professor Peter DeMarzo’s research is in the area of corporate finance, asset securitization, and contracting, as well as market structure and regulation. Recent work has examined the optimal design of securities, compensation mechanisms, regulation of insider trading and broker-dealers, bank capital regulation, and the influence of information asymmetries on corporate disclosures and investment.

Bio

Peter DeMarzo is the Staehelin Family Professor and Professor of Finance, and Faculty Director for Educational Technology, and former Senior Associate Dean for the GSB.  He has published research on corporate investment and financing, asset securitization, financial contracting, and market regulation.  Recent work has examined the optimal design of securities, compensation mechanisms, regulation of insider trading and broker-dealers, bank capital regulation, and the influence of information asymmetries on corporate disclosures and investment.  He is co-author of Corporate Finance and Fundamentals of Corporate Finance (Pearson Prentice Hall 2012). He has served as president of the Western Finance Association and director of the American Finance Association_.  He is a Research Associate of the National Bureau of Economic Research. Before joining Stanford, he was on the faculty of U.C. Berkeley’s Haas School of Business, Northwestern University’s Kellogg Graduate School of Management, and a National Fellow at the Hoover Institution.  DeMarzo received a Ph.D. in Economics in 1989 and M.S. in Operations Research in 1985 from Stanford University, and a B.A. in Cognitive Science and Applied Mathematics in 1984 from U.C. San Diego. His research has received awards including the Barclays Global Investors/Michael Brennan best paper award from the _Review of Financial Studies, and the Western Finance Association Corporate Finance Award. He won the Sloan Teaching Excellence award in 2004 and 2006, and the Cheit Outstanding Teaching Award in 1998. He currently teaches MBA and PhD courses in Corporate Finance and Financial Modeling.

Academic Degrees

  • PhD, Stanford University, 1989
  • MS, Stanford University, 1985
  • BA, UC San Diego, 1984

Academic Appointments

  • At Stanford 1995-1997 and since 2000
  • Associate Professor, Haas School of Business, UC Berkeley, 1997-1999
  • Visiting Associate Professor, Stanford GSB, 1995-1997
  • Associate Professor, Kellogg Graduate School of Management, Northwestern University, 1992-97
  • National Fellow, Hoover Institution, 1992-1993
  • Asst. Professor, Kellogg Graduate School of Management, Northwestern University, 1989-1992

Awards and Honors

  • Coulter Family Faculty Fellow, 2017-2018
  • Ormond Family Faculty Fellow, Stanford GSB, 2013-2014
  • Review of Financial Studies Best Paper Award, Barclays Global Investors/Michael Brennan, 2006
  • Sloan Teaching Excellence award, Stanford GSB, 2006
  • Sloan Teaching Excellence award, Stanford GSB, 2004
  • Corporate Finance Award, Western Finance Association, 2001
  • Cheit Outstanding Teaching Award, Haas School of Business, 1998
  • Clarendon Lectures, Oxford University, 2011
  • Bettis Distinguished Scholar, 2010
  • Michael Brennan Award, Review of Financial Studies, 2008
  • Utah Winter Finance Best Paper Award, 2004

Teaching

Degree Courses

2017-18

FINANCE 350: Corporate Financial Modeling

This course will expose students to the fundamentals, best practices, and advanced techniques of corporate financial modeling. We begin with basic operating and integrated financial statement models, and ultimately develop financial models to...

FINANCE 351: Advanced Corporate Financial Modeling

Students will engage in the development of corporate financial modeling cases and solutions. Students will also develop materials to aid others in building financial models, and serve as case leaders during lab workshops. Extensive background in...

2016-17

FINANCE 205: Accelerated Managerial Finance (Lab-based Pilot)

This course covers the foundations of finance with an emphasis on applications that are vital for corporate managers. We will discuss many of the major financial decisions made by corporate managers, both within the firm and in their interactions...

FINANCE 350: Corporate Financial Modeling

This course will expose students to the fundamentals, best practices, and advanced techniques of corporate financial modeling. We begin with basic operating and integrated financial statement models, and ultimately develop financial models to...

FINANCE 351: Advanced Corporate Financial Modeling

Students will engage in the development of corporate financial modeling cases and solutions. Students will also develop materials to aid others in building financial models, and serve as case leaders during lab workshops. Extensive background in...

Executive Education & Other Non-Degree Programs

  • The Corporate Entrepreneur: Driving Innovation and New Ventures Learn how to translate ideas into action using strategic frameworks and design thinking; then put theory into practice with real innovation projects.
  • Executive Program in Strategy and Organization Effectively diagnose and solve problems using proven frameworks for executing change in this multidisciplinary strategic management course.
  • Mergers and Acquisitions ​Tackle the entire M&A process through an interdisciplinary curriculum and a hands-on, weeklong team simulation project.
  • Stanford Innovation and Entrepreneurship Certificate Discover new ways of thinking and acting so that you can solve your biggest business challenges.
  • Stanford LEAD: Corporate Innovation Certificate Learn innovation and how to apply organizational change through a global, social, and virtual learning model with renowned Stanford GSB professors.

Other Teaching

Stanford Innovation and Entrepreneurship Certificate Program

Stanford Ignite Program

Stanford Executive Education Program

Insights by Stanford Business

writtenEquity: The Recommended List

August 30, 2016

Stanford GSB professors suggest articles and books related to the concept of “equity.”

writtenWhy Corporations Get Hooked on Debt

June 17, 2016

Banks are not alone when it comes to being overleveraged.

writtenThe Recommended List by Stanford GSB Professors

April 30, 2015

Those in the know share where to go to learn more about reward and related topics.

writtenPeter DeMarzo: Some Corporate Crises Require Big Executive Bonuses

August 4, 2014

Big bonuses tempt executives to gamble with company money, but they may make sense for a company in crisis.

writtenAnat Admati: The Bankers’ Addiction to Borrowing

October 29, 2013

A finance professor says big banks need tougher capital regulations — for our sake, and for theirs.

written"What's Wrong With Banking and What to Do About It"

January 28, 2013

How, and why, Stanford's Anat Admati took on the banking system.

writtenDefusing a Ticking Time Bomb of Debt

May 14, 2012

Why bankers like leverage — and what that could mean for the global financial system.

writtenPeter DeMarzo: What Do Managers Do With Bad News?

April 18, 2012

A new study shows executives are quick to report good news — but hold the negative for a flood of bad economic news in the media.

writtenStanford Finance Forum Debates Bank Capital and Equity Levels

June 1, 2011

Boston Fed CEO Eric Rosengren says money market mutual funds are vulnerable to the European debt crisis.

writtenAnat Admati: Why Bank Equity Is Not Expensive

September 1, 2010

A finance professor says raising bank capital requirements would produce widespread social benefits as well.

writtenResearch: How the Fear of Missing Out Makes Investors Risk Blind

October 1, 2007

People tend to cluster around risky categories out of a desire to avoid missing "the next big thing."

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