Faculty Directory

Anant K. Sundaram

Clinical Professor of Business Administration





Personal Website



PhD, Yale University, 1987; PGDM (MBA), Indian Institute of Management Bangalore, 1978; BSc, MSc, Madras Christian College, 1976

Areas of Expertise

Corporate valuation, mergers and acquisitions, corporate climate change and sustainability strategies


Business and Climate Change; Corporate Valuation


Anant Sundaram teaches Corporate Valuation and Business and Climate Change at Tuck. His areas of expertise are business valuation, M&A, corporate governance, and financial strategies for profitable growth.

Current Research Topics

  • Mergers and acquisitions and value creation
  • Investment behavior in nonprofits
  • Financial implications of corporate climate change strategies

Professional Activities

Academic positions

  • Clinical Professor of Business Administration, 2017–present; Visiting Professor of Business Administration, 2005–17, 2001–02; Associate Professor of Business Administration, 1987–94, Tuck School of Business
  • Faculty Director, Executive Environmental Sustainability Forum (Tuck School), 2009–present; Faculty Director, Tuck Executive Education, 2005–08
  • Associate Professor of Finance, Thunderbird School of Management, 1996–2005
  • Visiting Associate Professor, University of Michigan Business School, 1994–96

Nonacademic positions

  • Co-creator, uValue, a (free) corporate valuation app for the iPad and the iPhone; expert panel member, Katerva Global Sustainability Awards, 2009–present
  • Member, Steering Committee, National Academy of Sciences Initiative on Climate Education in US Business Schools, 2014
  • Expert panel member, Katerva Global Sustainability Awards, 2009–2014
  • Founding member, Foundation for Advancement of Research in Financial Economics, 2007–present
  • Consultant, World Bank, 1983–84; Consultant, A.F. Ferguson and Company, 1981–82
  • Consultant, Operations Research Group, 1979–81
  • Consultant, Systems Research Institute, 1978–79

Board memberships

  • Board member, Hubbard Brook Research Foundation, 2015-present
  • Advisory Board, The Energy and Resources Institute of Management, 2007–2015

Editorial positions

  • Special Issue Coeditor, Law and Contemporary Problems
  • Editorial Board, Journal of International Business Education, Journal of Multinational Financial Management
  • Ad Hoc Reviewer for major journals


  • Elective Curriculum Teaching Excellence Award, Tuck School of Business, 2016.
  • ‘Honorable Mention’ from Page Prize for Environmental Sustainability Curriculum, awarded by the Darla Moore School of Business at University of South Carolina for my MBA course ‘Business and Climate Change,’ December 2009
  • Outstanding faculty award, Thunderbird School of Management: 2000, 2001, 2003, 2004, 2005, 2006
  • Honored by the Excellence Project at Thunderbird (a student-led initiative that examined ‘excellent’ practices in various areas of the school): 2003-04
  • The article 'Purposes and Accountability of the Corporation: Corporate Governance at a Crossroads' is on the Corporate Practice Commentator’s (CPC) list of the Best Corporate and Securities Articles published and indexed during 2000
  • Distinguished Paper Award for the paper "Comparative Corporate Governance," presented at the Academy of Legal Studies In Business national meetings, July 1999
  • Recipient, Thunderbird Faculty Competitive Research award: 1997-2003
  • Recipient, University of Michigan CIBER award for research: 1996
  • Co-recipient (as part of University of Michigan Business School team) of $250,000 grant from the Sloan Foundation to research corporate governance: 1994
  • Recipient of: Citibank (1988) and Schneider SA (1992) research awards at the Tuck School

Working Papers

  • With R. Hansen, “Vertical Integration in the US Healthcare Industry: The Role of Not-for-Profit v. For-profit Hospitals”
  • With R. Hansen, “Hospital Performance and Ownership Type: A Reassessment of the Evidence”
  • With M. Bradley, “Acquisitions and Performance: A Re-assessment of the Evidence”
  • With M. Bradley, “The Emergence of Shareholder Value in the German Corporation”
  • With M. P. Narayanan, “A Safe Landing? Golden Parachutes and Corporate Behavior”
  • With B. Yeung, “Divestitures as Good News or Bad News: The Role of Creditors and Management”
  • With K. John and L. Senbet, “Corporate Limited Liability and the Design of Corporate Taxation”
  • With L. Shyam-Sunder, “Market Power and State-Dependent Systematic Risk”

Selected Publications

  • With R. Hansen, "Handbook of Business and Climate Change", Edward Elgar Publishing (under contract), forthcoming 2021
  • With A. Inkpen, “The Endurance of Shareholder Value Maximization as the Preferred Corporate Objective,” Journal of Management Studies, forthcoming 2021
  • With M. Adelino and K. Lewellen, “Investment Decisions of Non-profit Firms: Evidence from Hospitals,” Journal of Finance, July 2015
  • With K. John, “Product Market Games and Signaling Models in Finance: Do We Know What We Know?” in C. F. Lee (ed), Handbook of Quantitative Finance and Risk Management, Springer, 2010
  • With K. John, L. Senbet and P. Woodward, “Limited Liability and Market Power,” Review of Quantitative Finance and Accounting, 2006
  • With A. Inkpen, “Stakeholder Theory and ‘The Corporate Objective Revisited:’ A Reply,” Organization Science, 2004
  • With A. Inkpen, “The Corporate Objective Revisited,” Organization Science, 2004
  • “Mergers & Acquisitions and Corporate Governance,” in Advances in Mergers and Acquisitions, C. Cooper & S. Finkelstein (eds), Elsevier Press, 2004
  • With A. Inkpen and K. Rockwood, "Cross-border Acquisitions of US Technology Assets" California Management Review, Spring 2000
  • With M. Bradley, C. Schipani, J. Walsh, “Purposes and Accountability of the Corporation: Corporate Governance at a Crossroads,” Law and Contemporary Problems, Summer 1999.