Stewart Myers

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Stewart Myers
Born (1940-08-01) August 1, 1940 (age 80)
Academic background
Alma materWilliams College
Stanford University
Academic work
Sub-disciplineFinancial Economics
InstitutionsMIT Sloan School of Management

Stewart Clay Myers (born August 1, 1940) is the Robert C. Merton (1970) Professor of Financial Economics at the MIT Sloan School of Management.[1] He is notable for his work on capital structure and innovations in capital budgeting and valuation, and has had a "remarkable influence" on both the theory and practice of corporate finance.[2] Myers, in fact, coined the term "real option". He is the co-author with Richard A. Brealey and Franklin Allen of Principles of Corporate Finance, a widely used and cited business school textbook, now in its 11th edition. He is also the author of dozens of research articles.[3]


He holds a Ph.D. and MBA from Stanford University and an A.B. from Williams College.[4] He began teaching at MIT Sloan School of Management in 1966.[5]

His contributions are seen as falling into three main categories:[6]

Recent projects include the valuation of investments in R&D, risk management, and the allocation of capital in diversified firms, and the theory of corporate governance.

He is currently a principal of economic consulting firm The Brattle Group.[7] He is a past president of the American Finance Association,[8] a research associate of the National Bureau of Economic Research,[9] and a director of the Cambridge Endowment for Research in Finance.


  • Stewart C. Myers (ed) Modern Developments in Financial Management, Dryden Press, 1976, ISBN 9780275341008
  • Alexander A. Robichek, Stewart C. Myers, Optimal financing decisions, Prentice-Hall, 1965
  • Richard Brealey; Stewart Myers; Franklin Allen; Pitabas Mohanty (1988). Principles of Corporate Finance, 11e. MacGraw-Hill. ISBN 978-93-392-0502-7.
  • Richard A. Brealey, Stewart C. Myers, Capital Investment and Valuation, McGraw Hill Professional, 2003, ISBN 9780071383776


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