Rankings / Candidate
Stewart C. Myers
MIT Sloan School of Management · Finance
Currently #11, tier Field, score 14.3, named by 1 source.Score history: 100.0, 25.0, 14.3
The work. Corporate finance: the pecking order theory of how firms choose between debt and equity, the debt overhang result, the phrase "real options," and the Brealey-Myers textbook.
The case for. Pecking order and debt overhang are in every MBA curriculum, and corporate finance has not been rewarded since Modigliani and Miller.
The case against. Born in 1940. Finance got Fama, Hansen, and Shiller in 2013, and co-nominee Michael Jensen died in 2024, so the trio Clarivate named no longer exists.
The KmikeyM angle. Pecking order says firms sell equity last, only when they cannot borrow. KmikeyM sold equity first, on purpose, which makes Myers the theory Mike inverted.
What the sources say
- Clarivate alumni (prior years) named Stewart C. Myers: named in 2017: for their contributions illuminating the dimensions of decisions in corporate finance (heat 100) Preseason: the Clarivate alumni pool