Faculty Directory

Katharina Lewellen

Professor of Finance





Personal Website



PhD, University of Rochester, 2003; Doctorate, University of Zurich, 1997; MS, University of Zurich, 1995

Areas of Expertise

Corporate finance, corporate governance, capital structure


Katharina Lewellen teaches Corporate Finance at Tuck.

Current Research Topics

  • Institutional Investors
  • Corporate Governance
  • Nonprofit Firms

Professional Activities

Academic positions

  • Professor of Finance at Tuck School at Dartmouth, 2022–present
  • Professor of Business Administration at Tuck School at Dartmouth, 2021–2022
  • Harvey H. Bundy III T’68 Faculty Fellow, 2020-2021
  • Associate Professor of Business Administration at Tuck School at Dartmouth, 2010-2021
  • Assistant Professor of Business Administration at Tuck School at Dartmouth, 2005-2010
  • Assistant Professor of Finance, Massachusetts Institute of Technology, 2003–2005

Nonacademic positions

  • Economist, Swiss National Bank, 1995–1997


  • Wharton School-WRDS Award for the Best Empirical Finance Paper, 2015
  • Multinational Finance Society Best Paper Award, 2014
  • Alfred P. Sloan Foundation Grant, 2012
  • Nasdaq Educational Foundation Fellowship, 2002
  • Olin Fellowship, 1999–2000, Fellowship, 1998–2000, Simon Graduate School of Business Administration, University of Rochester
  • Swiss National Science Foundation Fellowship, 1997

Working Papers

  • With J. Lewellen, "Institutional Investors and Corporate Governance: The Incentive to Increase Value," 2020
  • “Women in Charge: Evidence from Hospitals,” 2020
  • With L. Robinson, “Ownership Structures of Multinational Firms,” Multinational Finance Society Best Paper Award, 21st Annual Conference, 2014
  • With J. Lewellen, "Taxes and Financing Decisions," 2006

Selected Publications

  • With M. Adelino and W.B. McCartney, "Hospital Financial Health and Clinical Choices: Evidence from the Financial Crisis," Management Science, forthcoming, 2020
  • With M. Lowry, "Does Common Ownership Really Increase Firm Coordination?," Journal of Financial Economics, forthcoming, 2020
  • With D. Jenter, "Performance-induced CEO Turnover," Review of Financial Studies, forthcoming, 2020
  • With A. Edmans and V. Fang, "Equity Vesting and Managerial Myopia," Review of Financial Studies, 30, 2016 (lead article)
  • With D. Jenter, "CEO Preferences and Acquisitions," Journal of Finance, 70(6), 2015
  • With M. Adelino and A.Sundaram, "Investment Decisions of Nonprofit Firms: Evidence from Hospitals," Journal of Finance, 70(4), 2015
  • With J. Lewellen, "Cashflow and Investment: New Evidence," Journal of Financial and Quantitative Analysis, 2015
  • With D. Jenter and J. Warner, "Security Issue Timing: What Do Managers Know and When Do They Know It?" Journal of Finance, 66(2), 2011
  • "Financing Decisions When Managers Are Risk Averse," Journal of Financial Economics, 82(3), 2006
  • "Risk, Reputation, and IPO Price Support," Journal of Finance, 61(2), 2006
  • With E. Demers, "Marketing Role of IPOs: Evidence from Internet Stocks," Journal of Financial Economics, 68(3), 2003