Joel M. Stern was chairman and chief executive officer of Stern Value Management, formerly Stern Stewart & Co, and the creator and developer of
economic value added. He was a recognised authority on
financial economics
Financial economics, also known as finance, is the branch of economics characterized by a "concentration on monetary activities", in which "money of one type or another is likely to appear on ''both sides'' of a trade". William F. Sharpe"Financia ...
, corporate performance measurement,
corporate valuation and incentive compensation and was a pioneer and leading advocate of the concept of
shareholder value. He was also active in academia, and in the media.
Career
After graduating from the
University of Chicago
The University of Chicago (UChicago, Chicago, U of C, or UChi) is a private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park neighborhood. The University of Chicago is consistently ranked among the b ...
's
graduate program in Finance and Economics (
MBA, Chicago-Booth, 1964), he joined the
Chase Manhattan Bank where he ultimately ran Chase Financial Policy, their global
consulting operation. During this time, he developed EVA. In 1982, after 18 years at Chase Manhattan, he started Stern Stewart.
He is the author of two books and the co-author of six others – all in financial economics. He served as the executive editor of the ''
Journal of Applied Corporate Finance'' and was a member of the editorial board of the ''
Journal of Financial Management and Analysis''.
He taught at or has served on the adjunct faculties of several graduate
business school
A business school is a university-level institution that confers degrees in business administration or management. A business school may also be referred to as school of management, management school, school of business administration, or ...
s in America and abroad, including University of Maryland's Robert H. Smith School of Business, Carnegie Mellon University's
Tepper School of Business
The Tepper School of Business is the business school of Carnegie Mellon University. It is located in the university's campus in Pittsburgh, Pennsylvania, US.
The school offers degrees from the undergraduate through doctoral levels, in addition ...
, The University of Chicago (Chicago-Booth), the
University of Cape Town
The University of Cape Town (UCT) ( af, Universiteit van Kaapstad, xh, Yunibesithi ya yaseKapa) is a public research university in Cape Town, South Africa. Established in 1829 as the South African College, it was granted full university statu ...
,
Singapore Management University,
Universidad Francisco Marroquín,
Universidad EAFIT, and the
Lauder Business School. He is also part of the Executive Advisory Committee of the
William E. Simon Graduate School of Business Administration at the
University of Rochester
The University of Rochester (U of R, UR, or U of Rochester) is a private research university in Rochester, New York. The university grants undergraduate and graduate degrees, including doctoral and professional degrees.
The University of ...
and was a member of the University of Chicago's Council on the
Graduate School of Business.
His media involvements include being the financial policy columnist for the ''
London Sunday Times
''The Sunday Times'' is a British newspaper whose circulation makes it the largest in Britain's quality press market category. It was founded in 1821 as ''The New Observer''. It is published by Times Newspapers Ltd, a subsidiary of News UK, whi ...
'' and The ''
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nik ...
''. He has also written for the ''
Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...
'' editorial page, the ''
New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...
'' and ''
Fortune
Fortune may refer to:
General
* Fortuna or Fortune, the Roman goddess of luck
* Luck
* Wealth
* Fortune, a prediction made in fortune-telling
* Fortune, in a fortune cookie
Arts and entertainment Film and television
* ''The Fortune'' (1931 film) ...
'' amongst others. He also has appeared on national business news programs, including
Bloomberg TV’s ''
Taking Stock with Pimm Fox
Taking or takings may refer to:
* Theft, illicit taking
* The acquisition of land under eminent domain
* Take (hunting) or taking, an action that adversely affects a species
* Kidnapping of persons
See also
*
*
*
* Take (disambiguation)
* ...
'',
CNBC Asia’s ''
Squawk Box
''Squawk Box'' is an American business news television program that airs from 6 to 9 a.m. Eastern time on CNBC. The program is co-hosted by Joe Kernen, Becky Quick, and Andrew Ross Sorkin. Since debuting in 1995, the show has spawned a numbe ...
',''
CNN’s ''
Moneyline'' and ''
Wall Street Week'', where he was a rotating panelist for 17 years.
He died on May 21, 2019.
References
External links
Joel Stern – Stern Value Management Executive ProfileJoel Stern - Articles*
ttp://newmedia.ufm.edu/gsm/index.php/Sternevainterview Joel Stern interviewed at UFM, GuatemalaJoel Stern's company website, Stern Value ManagementJoel Stern's interactive online learning platformEconomic Value Added (EVA), interview with Joel Stern
{{DEFAULTSORT:Stern, Joel
Corporate finance theorists
University of Chicago Booth School of Business alumni
American chief executives of financial services companies
Year of birth missing
2019 deaths