- Harold Bierman, Jr. Distinguished Professor of Management
- Deputy Dean and Dean of Academic Affairs, SC Johnson College of Business
- Asset Management
- Corporate Finance
- Emerging Markets
- Global Business
Andrew Karolyi is Deputy Dean and College Dean for Academic Affairs at the Cornell SC Johnson College of Business. He is a professor of finance and holder of the Harold Bierman Jr. Distinguished Professorship in the College’s Johnson Graduate School of Management. He is also a professor of economics in Cornell's College of Arts and Sciences. Professor Karolyi is a scholar in the area of investment management with a specialization in the study of international financial markets. He has published extensively in journals in finance and economics, including the Journal of Finance, Journal of Financial Economics and Review of Financial Studies, and has published several books and monographs. His research is featured in print and electronic media, including The Wall Street Journal, Financial Times, The Economist, Time, New York Times, Washington Post, Forbes, BusinessWeek, and CNBC. Karolyi recently completed a four-year term as executive editor of the Review of Financial Studies, one of the top-tier journals in finance. He has also served as an associate editor for a variety of journals, including the Journal of Finance, Journal of Financial Economics, Journal of Empirical Finance, Journal of Banking and Finance, Review of Finance and the Pacific Basin Finance Journal. He is a recipient of the Michael Jensen Prize for Corporate Finance and Organizations (2017), the Fama/DFA Prize for Capital Markets and Asset Pricing (2005), the William F. Sharpe Award for Scholarship in Finance (2001), the Journal of Empirical Finance's Biennial Best Paper Prize (2006), and Johnson School's Prize for Excellence in Research (2010). He leads various executive education programs in the U.S., Canada, Europe, and Asia, and is actively involved in consulting with corporations, banks, investment firms, stock exchanges, and law firms. He is president-elect/program chair of the Western Finance Association, has served as a director of the American Finance Association, and is past chairperson of the board of trustees and past president of the Financial Management Association International. Karolyi received his BA (Honors) in economics from McGill University and worked at the Bank of Canada for several years in its research department. He subsequently earned his MBA and PhD degrees in finance at the Graduate School of Business of the University of Chicago.
- Karolyi, Andrew; Kim, Da Woon; Liao, Rose. "The Economic Consequences of Investor Relations: A Global Perspective" Management Science. (forthcoming).
- Karolyi, Andrew; Ng, David; Prasad, Eswar. "The Coming Wave: Where Do Emerging Market Investors Put Their Money?" Journal of Financial and Quantitative Analysis. (forthcoming).
- Karolyi, Andrew; Wu, Ying. "A New Partial-Segmentation Approach to Modeling International Stock Returns" Journal of Financial and Quantitative Analysis. 53.2 (2018): 507-546
- Gagnon, Louis; Karolyi, Andrew. "An Unexpected Test of the Bonding Hypothesis" Review of Corporate Finance Studies. 7.1 (2018): 101-156
- Doidge, Craig; Karolyi, Andrew; Stulz, René. "The U.S. Listing Gap" Journal of Financial Economics. 123.3 (2017): 464-487
- Karolyi, Andrew; Liao, Rose. "State Capitalism's Global Reach: Evidence from Foreign Acquisitions by State-owned Companies" Journal of Corporate Finance. 42 (2017): 367-391
- Karolyi, Andrew; Taboada, Alvaro. "Regulatory Arbitrage and Cross-Border Bank Acquisitions" Journal of Finance. 70.6 (2015): 2395-2450
- Doidge, Craig; Karolyi, Andrew; Stulz, Rene. "The U.S. left behind? Financial globalization and the rise of IPOs outside the U.S." Journal of Financial Economics. 110.3 (2013): 546-573
- Karolyi, Andrew; Lee, Kuan-Hui; Van Dijk, Mathijs. "Understanding Commonality in Liquidity around the World" Journal of Financial Economics. 105.1 (2012): 82-112
- Hou, Kewei; Karolyi, Andrew; Kho, Bong-Chan. "What Factors Drive Global Stock Returns?" Review of Financial Studies. 24.8 (2011): 2527-2574
- PhD University of Chicago, Graduate School of Business, 1989
- MBA University of Chicago, Graduate School of Business, 1987
- MA University of Ottawa, 1985
- BA McGill University, 1983