Stewart Myers

Stewart C. Myers is the Robert C. Merton (1970) Professor of Finance, Emeritus at the MIT Sloan School of Management. His research focuses on the valuation of real and financial assets, corporate finance, and financial aspects of government regulation of business. He introduced both the tradeoff and pecking order theories of capital structure and was the first to recognize the importance of real options in corporate finance. Myers is the author of influential research papers on many topics, including adjusted present value (APV), rate of return regulation, capital allocation, and risk management in banking and insurance. He has served as a director of Entergy Corporation and CAT Ltd. and as a manager of the Cambridge Endowment for Research in Finance.

Stewart C. Myers is a Professor of Financial Economics at MIT, Emeritus. His research focuses on finance and financial economics, with a particular emphasis on corporate financing, investment decisions, capital structure, and liquidity. Myers has contributed significantly to understanding the determinants of corporate borrowing and the internal governance of firms. His work explores the paradox of liquidity and the capital structure puzzle, offering insights into static tradeoff and pecking order models. Additionally, he has examined R2 around the world, integrating new theory with empirical tests. His research has shaped financial strategy and corporate finance theory, with notable publications including 'Corporate Financing and Investment Decisions' and 'Finance Theory and Financial Strategy'.