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Alex Edmans

Professor of Finance

BA (Oxford University), PhD (MIT – Fulbright Scholar)

Professor Alex Edmans specialises in corporate finance (corporate governance, executive compensation, mergers and acquisitions, long-term investment/growth/innovation), behavioural finance and corporate social responsibility. His research has been published in leading journals such as the Journal of Finance, the Journal of Financial Economics, and the Review of Financial Studies. He is Associate Editor of the Review of Finance and Journal of Financial and Quantitative Analysis and was formerly an Associate Editor of the Review of Financial Studies.

In addition to being Professor of Finance at London Business School (LBS), he is a Faculty Research Fellow of the National Bureau of Economic Research, a Research Fellow of the Centre for Economic Policy Research and a Research Associate of the European Corporate Governance Institute.

Professor Edmans’ research has been covered by the Wall Street Journal, The Economist, Financial Times, New York Times, Bloomberg, Reuters and Dow Jones. He has appeared live on the BBC, CNBC, CNN, ESPN, Fox, and NPR.  He co-led a session on behavioural economics at the 2014 World Economic Forum in Davos and runs a blog, “Access to Finance” that aims to make complex finance topics accessible to a general audience.

He has been awarded the Moskowitz Prize for Socially Responsible Investing, the FIR-PRI prize for Finance and Sustainability, and the Spängler IQAM prize for best paper in the Review of Finance (runner-up); was a finalist for the Smith-Breeden Prize for best paper in the Journal of Finance; and was named a Rising Star of Corporate Governance by Yale University. 

Before joining LBS, he was a tenured professor at Wharton, where he won fourteen teaching awards in six years and was the MBA programme’s highest-rated finance professor. Prior to academia, he worked for Morgan Stanley in investment banking (London) and fixed income sales and trading (New York).


Blockholders and corporate governance

Edmans A

Annual Review of Financial Economics


The effect of liquidity on governance

Edmans A; Fang VW; Zur E

Review of Financial Studies


Dynamic CEO compensation

Edmans A; Gabaix X; Sadzik T; Sannikov Y

Journal of Finance

The real effects of financial markets

Bond P; Edmans A; Goldstein I

Annual Review of Financial Economics

The real effects of financial markets: The impact of prices on takeovers

Edmans A; Goldstein I; Jiang W

Journal of Finance


Do investment banks matter for M&A returns

Bao J; Edmans A

Review of Financial Studies

Does the stock market fully value intangibles

Edmans A

Journal of Financial Economics

Inside debt

Edmans A; Liu Q

Review of Finance

The effect of risk on the CEO market

Edmans A; Gabaix X

Review of Financial Studies

Tractability in incentive contracting

Edmans A; Gabaix X

Review of Financial Studies


A multiplicative model of optimal CEO incentives in market equilibrium

Edmans A; Gabaix X; Landier A

Review of Financial Studies

Is CEO pay really inefficient? A survey of new optimal contracting theories

Edmans A; Gabaix X

European Financial Management


Sports sentiment and stock returns

Edmans A; García; Norli Ø

Journal of Finance

C111 MBA Core Course in Corporate Finance AUT14 (Streams A-E)

Academic Awards

Best Paper Award, Financial Research Association, 2009 and Finalist, Harvard Business Review/McKinsey "Management Innovation of the Year" 2012 for "Dynamic CEO Compensation."

Rising Star in Corporate Governance, 2011.

One of the 50 Best Inventions of 2010 by Time Magazine for "The Responsible Homeowner Reward: An Incentive-Based Solution to Strategic Mortgage Default." 

Moskowitz Prize for Best Paper in Socially Responsible Investing, 2007 and FIR-PRI Prize for Best Paper in Finance and Sustainability, 2011 for "Does the Stock Market Fully Value Intangibles?"

Dorinda and Mark Winkeman Distinguished Scholar, 2009.

Honorable Mention, Terker Prize in Investment Research, 2009.

1st Place, NYU Glucksman Prize for Best Working Paper in Finance for "Tractability in Incentive Contracting" 2008/9.

Finalist, Smith-Breeden Prize for Best Paper in the Journal of Finance and Best Paper Award at Caesarea Center 3rd Annual Conference for "Sports Sentiment and Stock Returns" 2007.

Goldman Sachs & Co. Research Fellowship, 2007-14.

Runner-Up, Spaengler IQAM Prize for Best Paper in the Review of Finance and McGraw-Hill/Irwin Best Paper in Corporate Finance Award, FMA, for "Inside Debt" 2006.

Teaching Awards

Wharton MBA Excellence in Teaching Award (2010, 2012, 2013) 

Wharton MBA Core Teaching Award (2007, 2008) 

Wharton MBA Core Curriculum Award (“goes above and beyond the call of duty”) (2007, 2008, 2009, 2010, 2012, 2013) 

Wharton MBA Core Curriculum Award (“tough, but we’ll thank this professor in 5 years”) (2008, 2013) 

Wharton MBA Teaching Commitment and Curricular Innovation Award (2012) 

MIT Graduate Teaching Award, 2006-7 

MIT Sloan Outstanding Teaching Assistant of the Year, 2004-5

Research Interest

Corporate finance (corporate governance, executive compensation, mergers and acquisitions), behavioural finance, corporate social responsibility.