Mitchell A. Petersen
Glen Vasel Professor of Finance
Director of the Heizer Center for Private Equity and Venture Capital
Mitchell Petersen is the Glen Vasel Professor of Finance. He has published widely in finance and economics. Professor Petersen's research is in the area of empirical corporate finance: the questions of how firms evaluate potential investment projects, how they fund such projects, and how they manage the risk of their assets. His writing focuses on how the cost of information, technology, competition, and taxes affect how firms raise capital and fund their projects. He was awarded the Smith-Breeden Prize for Outstanding Paper in the Journal of Finance in 1995 (for his paper "The Benefits of Lending Relationships: Evidence from Small Business Data") and the Michael Brennan Award for Best Paper in the Review of Financial Studies in 1998 (for his paper "Trade Credit: Theories and Evidence") and 2013 (for his paper "Investment and Capital Constraints: Repatriations Under the American Jobs Creation Act"). He was runner-up for the Brennan Award in 2008 (for his paper "Does the Source of Capital Affect Capital Structure") and 2010 (for his paper "Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches").
He has been a member of the editorial board of various journals, including the Journal of Finance, Financial Management, Review of Financial Studies, and the Journal of Financial Intermediation. He is also a research associate with the National Bureau of Economic Research (NBER), served on the board of the American Finance Associations, and has been a member of Moody's Academic Advisory and Research Committee.
Professor Petersen was awarded the Sidney J. Levy Teaching Award in 1996, 1999, 2001, 2003, 2006, 2008, 2010, and 2012 and was voted the Kellogg Professor of the Year in 2000, the Executive MBA Outstanding Professor in 2008, 2010, 2011, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023 and 2024, Kellogg Alumni Professor of the Year in 2010. He was awarded the Richard J Daley Award by the Illinois Venture Capital Association in 2024. He received his Ph.D. in Economics from the Massachusetts Institute of Technology.
- Empirical corporate finance including how firms large and small are financed
- how financial frictions (including taxes and changes in technology) affect firm's financing
- risk management
- and investments.
- Corporate finance (valuation
- capital structure
- and dividend policy)
- tax strategy
- and real options
-
-
Type/Date Title/Author Article2023There Is No Bright Line on Taxing Carried Interest Wall Street JournalCase2015Schumpeter Finanzberatung GmbH: Evaluating Investment Risk Case2014The Right of Acquisition: Options in Commercial Real Estate Case2014Teuer Furniture (B): Multiples Valuation Case2014Teuer Furniture (A): Discounted Cash Flow Valuation Case2013Grupo Pao de Acucar Case2007Vioxx: Too Risky for Merck? Case2004West Teleservice Case2004Western-Southern Enterprise -
PhD, 1990, Economics, Massachusetts Institute of Technology
AB, 1986, Economics, Princeton University, Summa Cum Laude, Phi Beta Kappa -
Director of Heizer Center for Private Equity and Venture Capital, Kellogg School of Management, Northwestern University, 2007-present
Glen E. Vasel Professor of Finance, Kellogg School of Management, Northwestern University, 2005-present
Glen E. Vasel Associate Professor of Finance, Kellogg School of Management, Northwestern University, 1997-2005
Assistant Professor of Finance, Kellogg School of Management, Northwestern University, 1994-1997
Assistant Professor of Finance, Graduate School of Business, University of Chicago, 1990-1994 -
Board of Directors, American Finance Association, 2017-2020
Strategic Advisor, OCA Ventures, 2014-present
Program Chair - Corporate Finance and Risk Management, FDIC Center for Financial Research, 2005-2016
Academic Advisory Board, Moody's Investor Services, 2003-2012
Research Associate, National Bureau of Economic Research, 2002-present -
Richard J Daley Award, Illinois Venture Capital Association
Executive MBA Program Outstanding Teacher Awards, Executive MBA Program, Kellogg School of Management, Cohorts 132, 134
Executive MBA Program Outstanding Teaching Awards, Executive MBA Program, Kellogg School of Management, Cohort 128, 130
Executive MBA Program Outstanding Teaching Awards, Executive MBA Program, Kellogg School of Management, Cohort 124, 127
Executive MBA Program Outstanding Teaching Award, Executive MBA Program, Kellogg School of Management, EMBA 121, 122, 123
Executive MBA Program Outstanding Teaching Award, Executive MBA Program, Kellogg School of Management, 2008, 2010, 2011, 2013, 2015, 2016, 2017, 2018, 2019, 2020, 2021, and 2022
Executive MBA Program Outstanding Teaching Awards, Executive MBA Program, Kellogg School of Management
Editors Choice Award, Review of Corporate Finance Studies
Executive MBA Program Outstanding Teaching Awards, Executive MBA Program, Kellogg School of Management
Executive MBA Program Outstanding Teaching Awards, Executive MBA Program, Kellogg School of Management
Executive MBA Program Outstanding Teaching Awards, Executive MBA Program, Kellogg School of Management
Executive MBA Program Outstanding Teaching Awards, Executive MBA Program, Kellogg School of Management
Executive MBA Program Outstanding Teaching Awards, Executive MBA Program, Kellogg School of Management
BGI - Michael Brennan Award - Best Paper, Review of Financial Studies
Executive MBA Program Outstanding Teaching Awards, Kellogg School of Management
Kellogg Alumni Professor of the Year Award, Kellogg School of Managment, 2010
Sidney J. Levy Teaching Award, Kellogg School of Management, 2012, 2010, 2008, 2006, 2003, 2001, 1999, 1996
Editor's Choice Award, Review of Financial Studies, 2010
Michael Brennan Award (runner-up), Barclays Global Investors, 2010
Sidney J. Levy Teaching Award, Kellogg School of Business and Management, 2003
Sidney J. Levy Teaching Award, Kellogg School of Business and Management, 2001
L.G. Lavengood Outstanding Professor of the Year Award, Kellogg School of Management, 2000
Outstanding Professor of the Year, Kellogg School of Business and Management, 2000
Sidney J. Levy Teaching Award, Kellogg School of Business and Management, 1999
Michael Brennan Award, Barclays Global Investors, 1998
Sidney J. Levy Teaching Award, Kellogg School of Business and Management, 1996
Smith Breeden Distinguished Paper Award, American Finance Association, 1995
Sloan Fellowship, Alfred P. Sloan Foundation, 1989-1990
National Science Foundation Fellowship, National Science Foundation, 1986-1989 -
Associate Editor, Journal of Finance, 2004-2013
Associate Editor, Financial Management, 2002-2009
Editor, Journal of Financial Management, 1998-2002
Associate Editor, Journal of Finanicial Intermediation, 1995-1997
Associate Editor, Review of Financial Studies, 1995-1997
Capstone Course (STRTX-470-0)
Strategic Financial Management (FINCX-442-0)
Strategic Financial Management examines financial management theory and cases. Students use valuation skills to determine the cost of capital, financing and operating issues faced by the firm.
Managerial Finance II (FINCX-441-0)
Managerial Finance II analyzes corporate financial decisions. Topics include market efficiency, capital structure, dividend and stock repurchase policy, and firms’ use of options and convertible securities.
Financial Strategy and Tax (FINC-447-0)
Taxes are a crucial component of the most investor's asset allocation decision. After tax-returns are the portion investors keep. Taxes are also a crucial component of firm's investment and financing decisions. Unfortunately, knowledge of how taxes work is often left to the experts. This means that many opportunities for creating value for firms and investors are missed. This course will not make you a tax expert. You will still need to hire a tax expert. Instead the objective is to teach you enough of the structure of tax codes (past, current, and future; US and non-US) so that you can ask intelligent tax, business, and finance questions before it is too late. The class is designed to fill the gap between an MBA who is well trained in finance and the tax experts that you will rely on in your career. This is a rare and thus valuable position to be in. We will first develop a set of fundamental tax and finance concepts. We then will apply this to a wide range of investment, financing, and risk management applications. Derivatives is recommended but not required. I will have a tutorial/refresher for those who want it. Ask if you have questions. Course web site.
Accelerated Corporate Finance (FINC-440-0)
Corporate finance covers the financial knowledge you need to run a firm, whether the firm is a multi-billion dollar international conglomerate or a three-person start up. Accelerated Corporate Finance will combine the material from Finance 1 and Finance 2 in an intensive one-quarter course. We will cover valuation (discounted cash flow, multiples, and real options), capital structure (how firms finance themselves and how they manage risk), and payout policy (should firms return capital to investors and if so how). For more details, you should read the descriptions of Finance 1 and Finance 2. The logical concepts will be covered in class, technical skills and intuition will be developed in class and through online exercises, and then the logic and tools will be applied to a set of valuation, financing, risk management, and payout cases. Given the pace of the course, students are expected to be prepared to put in the extra effort in class and outside of class. Basic finance knowledge (discounting) and accounting is assumed
Prerequisite: Business Analytics I (DECS-430-5)
Corequisite/Prerequisite: Accounting for Decision Making (ACCT-430) and Business Analytics II (DECS 431-0)
