Edward Altman is the Max L. Heine Professor of Finance at the Stern School of Business, New York University. Since 1990, he has directed the research effort in Fixed Income and Credit Markets at the NYU Salomon Center and is currently the Vice-Director of the Center. 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 in Sydney and Luigi Bocconi University in Milan.
Prof. 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. Prof. Altman is also the Chairman of the Academic Council of the Turnaround Management Association. Prof. Altman was named to the Max L. Heine endowed professorship at Stern in 1988. He was inducted into the Fixed Income Analysts Society Hall of Fame in 2001 and elected President of the Financial Management Association (2002). Professor Altman was named one of the 100 most influential people in the world in 2005 by the publication Treasury and Risk Management. He received his MBA and Ph.D. in Finance from the University of California, Los Angeles.
Professor Altman is one of the founders and was 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. Professor Altman has published or edited almost two dozen books and well over 100 articles in scholarly finance, accounting and economic journals. He is the current editor of the Handbook of Corporate Finance and the Handbook of Financial Markets and Institutions and the author of a number books, including Recent Advances in Corporate Finance; Investing in Junk Bonds; Distressed Securities: Analyzing and Evaluating Market Potential and Investment Risk; and his most recent works on Corporate Financial Distress and Bankruptcy(2005); Managing Credit Risk: The Next Great Financial Challenge (2007); Recovery Risk (2005); Bankruptcy, Credit Risk and High Yield Junk Bonds (2002). His work has appeared in many languages including French, German, Italian, Japanese, Korean, Portuguese and Spanish.
Prof. Altman's primary areas of research include bankruptcy analysis and prediction, credit and lending policies, risk management 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.
Dr. Altman is a member of the Board and past Chairman of the Board of Trustees of the InterSchool Orchestras of New York and was a founding member of the Board of Trustees of the Museum of American Financial History.
Recent Blog Posts by Edward Altman
- Chapter 17: Executive Summary – Where Should the Bailout Stop?
- Where should the bailout stop? And what to do about GM
- Why GM Should File For Bankruptcy with a DIP-Twist Help From Its Friend: The US Government
- A Statement by The Financial Economists Roundtable drafted by a committee, chaired by Edward Kane and Richard Herring including Edward Altman and Charles Goodhart