Alexander Ljungqvist
Alexander Ljungqvist holds the newly created Stefan Persson Family Chair in Entrepreneurial Finance at the Stockholm School of Economics. Before joining the School in spring 2018, he spent 18 years at NYU, where he held the Ira Rennert Chair in Finance and Entrepreneurship and served as the Sidney Homer Director of the NYU Salomon Center, and five years at Oxford University's Said Business School and Merton College, where he held the Bankers Trust Fellowship. He is a Fellow of the Centre for Economic Policy Research in London, a Founder and Senior Fellow of the Asian Bureau of Financial and Economic Research in Singapore, a Fellow of the Research Institute of Industrial Economics in Stockholm (IFN), a Co-Founder of the Nordic Initiative for Corporate Economics (NICE), and a former Research Associate of the National Bureau of Economic Research in Cambridge. He has previously served as Editor of the Review of Financial Studies, a leading scholarly journal.
Professor Ljungqvist’s research interests range widely. He has published in the areas of corporate finance, corporate governance, corporate taxation, investment banking, IPOs, entrepreneurial finance, private equity, venture capital, asset pricing, market microstructure, innovation, and patents. His articles have appeared in leading scholarly journals, including Econometrica, the Journal of Political Economy, the Journal of Finance, the Review of Financial Studies, the Journal of Financial Economics, and the Journal of Accounting Research. In 2019, he was appointed a Wallenberg Scholar and in 2011, he was honored with the Kauffman Prize Medal.
The recipient of several teaching awards, Dr. Ljungqvist has taught MBA classes in valuation, entrepreneurial finance, and venture capital and private equity, PhD seminars in corporate finance, and executive courses in financial management, venture capital, private equity, and investment banking. He has taught at NYU, Harvard Business School, Oxford University, Cambridge University (where he held the Sir Evelyn de Rothschild Fellowship), and London Business School.
Dr. Ljungqvist currently serves on the Board of Directors of AP6, a pension fund focusing on alternative investments, as well as on the School's Board of Directors. He has previously served on the Nasdaq Listing Council, on the World Economic Forum's Council of Experts overseeing the "Alternative Investments 2020" project, on a World Economic Forum working group tasked with "Rethinking financial innovation", on the UK Department for Business Panel of Experts overseeing the 2014 review of the UK equity markets, and on the supervisory board of mAbxience SA, a European biosimilars company. In the 2000s, he designed alternative investment strategies for Deutsche Bank Securities and Deutsche Bank Asset Management. Over the past 20 years, he has consulted widely on private equity, corporate finance, regulatory economics, corporate strategy, and in high-profile litigation.
Dr. Ljungqvist received an MSc in economics and business from Lund University in Sweden and his MA, MPhil, and DPhil degrees in economics from Nuffield College at Oxford University.
Selected publication
Alexander Ljungqvist and Joan Farre-Mensa and Deepak Hede (2019). What is a patent worth? Evidence from the U.S. patent ‘lottery’. Journal of Finance, forthcoming.
Alexander Ljungqvist and Matthew Richardson and Daniel Wolfenzon (2019). The investment behavior of buyout funds. Financial Management, forthcoming.
K. Back, P. Collin-Dufresne, V. Fos, T. Li and Alexander Ljungqvist (2018) Activism, strategic trading, and liquidity. Econometrica, vol. 86, pp. 1431-1463
Alexander Ljungqvist and Liangong Zhang and Luo Zuo (2017). Sharing Risk with the Government: How Taxes Affect Corporate Risk Taking. Journal of Accounting Research, vol. 55, pp. 669-707
Alexander Ljungqvist and Wenlan Qian (2016). How Constraining Are Limits to Arbitrage?. The Review of Financial Studies, vol. 29, pp. 1975-2028
Alexander Ljungqvist and Joan Farre-Mensa (2016). Do Measures of Financial Constraints Measure Financial Constraints?. Review of Financial Studies, vol. 29, pp.271-308
Alexander Ljungqvist and Florian Heidera (2015). As certain as debt and taxes: Estimating the tax sensitivity of leverage from state tax changes. Journal of Financial Economics, vol. 118, pp. 684-712
Alexander Ljungqvist and John Asker and Joan Farre-Mensa (2015). Corporate Investment and Stock Market Listing: A Puzzle?. Review of Financial Studies, vol. 28, pp. 342-390
Alexander Ljungqvist and Karthik Balakrishnan and Mary B. Billings and Bryan T. Kelly (2014). Shaping Liquidity: On the Causal Effects of Voluntary Disclosure. Journal of Finance, vol. 69, pp. 2237-2278
Alexander Ljungqvist and Yael V. Hochberg and Annette Vissing-Jørgensen (2014). Informational Holdup and Performance Persistence in Venture Capital. Review of Financial Studies, vol. 27, pp. 102-152
Alexander Ljungqvist and Francesca Cornelli and Zbigniew Kominek (2013). Monitoring Managers: Does It Matter?. Journal of Finance, vol. 68, pp. 431-481
Alexander Ljungqvist and Bryan Kelly (2012). Testing Asymmetric-Information Asset Pricing Models. The Review of Financial Studies, vol. 25, pp. 1366-1413
Alexander Ljungqvist and John Asker (2010). Competition and the Structure of Vertical Relationships in Capital Markets. Journal of Political Economy, vol. 118, pp. 599-647
Alexander Ljungqvist and Yael V. Hochberg and Yang Lu (2010). Networking as a Barrier to Entry and the Competitive Supply of Venture Capital. Journal of Financial Economics, vol. 65, pp. 829-859
Alexander Ljungqvist and Felicia Marston and William J. Wilhelm (2009). Scaling the Hierarchy: How and Why Investment Banks Compete for Syndicate Co-management Appointments. Review of Financial Studies, vol. 22, pp. 3977-4007
Alexander Ljungqvist and Christopher J. Malloy and Felicia Marston (2009). Rewriting History. Journal of Finance, vol 64, pp. 1935-1960
Alexander Ljungqvist and Felicia Marston and Laura T.Starks and Kelsey D. Wei and Hong Yan (2007). Conflicts of Interest in Sell-Side Research and the Moderating Role of Institutional Investors. Journal of Financial Economics, vol. 85, pp. 420-456