EDWARD I. ALTMAN
Edward
I. Altman is the Max L. Heine Professor
of Finance at the Stern School of Business, New York University. He is the
Director of Research in Credit and Debt Markets at the NYU Salomon Center for
the Study of Financial Institutions. Prior to serving in his present position,
Professor Altman chaired the Stern School's MBA Program for 12 years. He has
been a visiting Professor at the Hautes Etudes Commerciales and Universite de
Paris-Dauphine in France, at the Pontificia Catolica Universidade in Rio de
Janeiro, at the Australian Graduate School of Management and MacQuarie in Sydney, University of Western Australia in
Perth, Luigi Bocconi University in Milan and CEMFI in Madrid. Dr. Altman was
named to the Max L. Heine endowed
professorship at Stern in 1988.
Dr.
Altman has an international reputation as an expert on corporate bankruptcy,
high yield bonds, distressed debt and credit risk analysis. He was named Laureate 1984 by the Hautes Etudes Commerciales
Foundation in Paris for his accumulated works on corporate distress
prediction models and procedures for firm financial rehabilitation and awarded
the Graham & Dodd Scroll for 1985
by the Financial Analysts Federation for his work on Default Rates on
High Yield Corporate Debt and was named "Profesor
Honorario" by the University of Buenos Aires
in 1996. He is currently an advisor to the Centrale dei
Bilanci in Italy and to several foreign central
banks. Professor Altman is also the Chairman of the Academic Advisory
Council of the Turnaround Management Association. He received his MBA and
Ph.D. in Finance from the University of California, Los Angeles. He was
inducted into the Fixed Income Analysts Society Hall of Fame in 2001,
President of the Financial Management Association (2003) and a FMA
Fellow in 2004 and was amongst the
inaugural inductees into the Turnaround Management Association Hall of Fame in
2008. In 2005, Prof. Altman was named one of the "100 Most
Influential People in Finance" by the Treasury & Risk Management
magazine. He also received an Honorary Doctorate from Lund University, Sweden
in May 2011.
Professor
Altman was one of the founders and an Executive Editor of the international
publication, the Journal of Banking
and Finance and Advisory Editor of a publisher series, the John Wiley Frontiers in Finance Series.
He has published or edited two-dozen books and over 150 articles in scholarly
finance, accounting and economic journals. He was the editor of the Handbook of Corporate Finance and the Handbook of Financial Markets and Institutions and the author
of a number of recent books, including his most recent works on Bankruptcy, Credit Risk and High Yield Junk
Bonds (2002), Recovery Risk (2005), Corporate Financial Distress &
Bankruptcy (3rd ed., 2006) and Managing Credit Risk (2nd ed. 2008). His work has
appeared in many languages including French, German, Italian, Japanese, Korean,
Portuguese and Spanish.
Dr. Altman's primary areas of research include bankruptcy analysis and
prediction, credit and lending policies, risk management and regulation in
banking, corporate finance and capital markets. He has been a consultant to
several government agencies, major financial and accounting institutions and
industrial companies and has lectured to executives in North America, South
America, Europe, Australia-New Zealand, Asia and Africa. He has testified
before the U.S. Congress, the New York State Senate and several
other government and regulatory organizations and is a Director and a member of
the Advisory Board of a number of corporate, publishing, academic and financial
institutions. He has been Chairman of the Academic Council of the Turnaround
Management Association since 2002.
Dr. Altman is Chairman Emeritus and a member
of the Board of Trustees of the InterSchool
Orchestras of New York and a founding member of the Board of Trustees of
the Museum of American Finance.