Michael J. Fishman
Norman Strunk Professor of Financial Institutions
Professor of Finance
Michael Fishman is the Norman Strunk Professor of Financial Institutions. He was the Senior Associate Dean, Curriculum & Teaching from 2011-2014. He was the Senior Associate Dean, Faculty & Research from 2018-2021.
Professor Fishman has published widely in finance and economics. His research focuses on financial market regulation and contracting. Recently, he has investigated insider trading, disclosure regulations, the role of self-regulatory organizations, and long-term financial contracting. He has won a number of research awards including the Smith Breeden Prize, awarded by the American Finance Association. He co-edited A Primer on Securitization (MIT Press, 1996). Professor Fishman has been on the editorial boards of a number of finance journals.
The graduates of Kellogg's Executive Masters Program chose Professor Fishman for the Outstanding Professor Award in 1995, 1997, 2006, 2007, 2008, and 2009. He received his Ph.D. in Economics from the University of Chicago.
- Regulation of financial markets
- financial contracting
- corporate finance
- Corporate finance
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PhD, 1986, Economics, University of Chicago
MA, 1982, Economics, University of Chicago
BA, 1979, Economics, University of Illinois at Urbana-Champaign -
Senior Associate Dean, Faculty and Research, Kellogg School of Management, Northwestern University, 2018-present
Senior Associate Dean: Curriculum & Teaching, Kellogg School of Management, Northwestern University, 2011-2014
Norman Strunk Distinguished Professor of Financial Institutions, Kellogg School of Management, Northwestern University, 1997-present
Chair, Kellogg School of Management, Northwestern University, 2002-2005
Associate Professor of Finance, Kellogg School of Management, Northwestern University, 1992-1997
Assistant Professor of FInance, Kellogg School of Management, Northwestern University, 1985-1992 -
EMPOutstandingTeachingAward, Executive MBA Program Outstanding Teaching Awards, 2009, 2008, 2007, 2006, 1997, 1995
Sidney J. Levy Teaching Award, Kellogg School of Management, 2008-2009, 2004-2005, 1993-1994
Runner Up for the 2008 Barclays Global Investors/ Michael Brennan Best Paper Award, Review of Financial Studies -
Associate Editor, Review of Corporate Finance Studies, 2011-2021
Associate Editor, Journal of Financial Intermediation, 1993-2021
Board Editor, American Economic Review, 2011-2014
Editor, Review of Financial Studies, 1998-2002
Corporate Finance I (FINC-586-1)
This course introduces students to theories of corporate financing and investment decisions; optimal financial contracting and security design; financial intermediation; and financial crises. Throughout we study the effects of incentive problems and asymmetric information.
Managerial Finance I (FINCX-430-0)
Managerial Finance I introduces the basic techniques of finance. Topics include discounting techniques and applications; evaluation of capital expenditures; and estimating cost of capital and bond and stock valuation.
Financial Decisions (FINC-442-0)
This course uses case studies to enhance the student's understanding of managerial financial decision making, specifically investment and financing decisions. Topics include short- and long-term financing, capital structure and dividend decisions, cost of capital, capital budgeting, firm valuation, financial and operational restructuring, and mergers and acquisitions. The course emphasizes the basic principles of corporate finance and is sufficiently general so as to be of interest to all students. The course provides students with the opportunity to apply the concepts and theories developed in other finance courses. At its most fundamental level, the course attempts to improve problem-solving skills: problem definition, gathering and organizing the relevant information, developing feasible alternative courses of action, evaluating alternative choices, and recommending and defending the best course of action.
