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Henri Servaes

Professor of Finance

BBA (European University), MSIA (Purdue University), PhD (Purdue University)

Professor Henri Servaes has taught in programmes around the world and was ranked second in Europe for research productivity in financial economics (over the period 1990-2008) in a recent study. He was featured in the Financial Times series on Gurus of the Future, in 2005, and has won prizes for several of his articles published in leading finance journals.

Professor Servaes is also a Research Fellow of the Centre for Economic Policy Research and a Research Associate of the European Corporate Governance Institute.

A large number of international newspapers have cited him or his work, including: Bloomberg, the Financial Times, the Wall Street Journal, CFO Magazine, Corriere Della Sera, Handelsblatt, and Institutional Investor.

Professor Servaes’s work has been presented at all major international finance conferences and at more than 75 universities worldwide. He has had previous appointments at the University of Chicago, the Katholieke Universiteit Leuven (Belgium), Duke University, and the University of North Carolina at Chapel Hill.

He has been involved in consulting and executive education for Anglo American, Barclays, Bertelsmann, BG Group, Continental, Deutsche Bank, E ON, The Financial Times (Lex Team), Freshfields, Mars, PriceWaterhouseCoopers, and Suez, among others.

He teaches corporate finance and corporate governance on London Business School’s Senior Executive Programme and the Corporate Finance Programme.


How do industry peers respond to control threats

Serves H; Tamayo A

Management Science


What drives market share in the mutual fund industry

Khorana A; Servaes H

Review of Finance


Does fair value reporting affect risk management? International survey evidence

Servaes H; Lins K; Tamayo A

Financial Management


What drives corporate liquidity? An international survey of cash holdings and lines of credit

Servaes H; Lins K; Tufano P

Journal of Financial Economics


Mutual fund fees around the world

Khorana A; Servaes H; Tufano P

Review of Financial Studies

The theory and practice of corporate risk management

Servaes H; Tamayo A; Tufano P

Journal of Applied Corporate Finance

Changes in insider ownership and changes in the market value of the firm

Servaes H; McConnell J; Lins K

Journal of Corporate Finance


Private equity: boom and bust?

Acharya V; Franks J R; Servaes H

Journal of Applied Corporate Finance

Portfolio manager ownership and fund performance

Servaes H; Khorana A; Wedge L

Journal of Financial Economics


Ranking risk and finance

Servaes H; Tufano P

Financial Times


Explaining the size of the mutual fund industry around the world

Servaes H; Khorana A; Tufano P

Journal of Financial Economics

Corporate governance, incentives, and industry consolidations

Servaes H; Brown K; Dittmar A

Review of Financial Studies


International corporate governance and corporate cash holdings

Dittmar A; Mahrt-Smith J K; Servaes H

Journal of Financial and Quantitative Analysis


Is corporate diversification beneficial in emerging markets?

Lins K; Servaes H

Financial Management


Cost of diversity: the diversification discount and inefficient investment

Rajan R; Servaes H; Zingaves L

Journal of Finance


International evidence on the value of corporate diversification

Lins K; Servaes H

Journal of Finance

Determinants of mutual fund starts

Khorana A; Servaes H

Review of Financial Studies


Analyst following of initial public offerings

Rajan R; Servaes H

Journal of Finance


Role of investment banks in acquisitions

Servaes H; Zenner M

Review of Financial Studies


Equity ownership and the two faces of debt

McConnell J; Servaes H

Journal of Financial Economics


Ownership structure

Servaes H; Zenner M

Financial Markets and Portfolio Management

Taxes and the returns to foreign acquisition in the US

Servaes H; Zenner M

Financial Management

Do takeover targets overinvest?

Servaes H

Review of Financial Studies

Tobin's Q and the gains from takeovers

Servaes H

Journal of Finance

Economics of pre-packaged bankruptcy

McConnell J; Servaes H

Journal of Applied Corporate Finance


Additional evidence on equity ownership and corporate value

McConnell J; Servaes H

Journal of Financial Economics

Executive Education courses in Corporate Finance Evening Programme, Corporate Finance Modular Programmes and Senior Executive Programme.

Ranked 2nd in Europe in terms of research productivity in finance over the period 1990-2008, 2011.

Included in Financial Times series on Gurus of the Future, 2005.

Bertil Danielsson Visiting Scholar, Stockholm School of Economics and Gothenburg University, 2003-2004.

Journal of Financial Economics All Star Paper for “Additional evidence on equity ownership and corporate value”, co-authored with John McConnell.

Chair Wim Van Looy, Limburgs Universitair Centrum (University of Limburg), Belgium, 2003.

Recipient of Best Paper award at 2001 FMA European Conference for: “Roll-ups: Performanceand Incentives for Industry Consolidating IPOs”, co-authored with Amy Dittmar and Keith C.Brown.

Recipient of 2000 Distinguished Paper Brattle Prize for outstanding papers in corporate finance published in the Journal of Finance for : “The Cost of Diversity: The Diversification Discount and Inefficient Investment”, co-authored with Raghuram Rajan and Luigi Zingales.

Research Interests

Corporate control, initial public offerings, mutual funds and capital structure.