NYU Stern

Experience Faculty & Research

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Jennifer N. Carpenter

Jennifer N. Carpenter

Joined Stern 1995

Leonard N. Stern School of Business
Tisch Hall
40 West Fourth Street, 911
New York, NY 10012

E-mail jcarpen0@stern.nyu.edu
Personal website

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Jennifer N. Carpenter is Associate Professor of Finance at New York University Stern School of Business. Her primary research areas include executive stock options, fund manager compensation, risk incentives, and China's financial system. She has published in all the major academic finance journals including the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies, and the Journal of Business.

Professor Carpenter is Associate Director for the Stern Center for Global Economy and Business and Coordinator of its China Initiative. She also serves as Stern Finance Undergraduate Program Coordinator. She won the Stern Faculty Leadership Award in 2013.

Professor Carpenter teaches undergraduate, MBA, and executive education courses on Debt Instruments and Markets and a PhD course on continuous-time finance. She won the Stern Distinguished Teaching Award for Teaching Excellence in 2012.

Before coming to Stern, Professor Carpenter worked at Goldman, Sachs & Company in the Fixed Income Division. Professor Carpenter received her B.S. in Economics, M.A. in Finance, M.A. in Mathematics, and Ph.D. in Finance from the University of Pennsylvania.

Research Interests

  • Managerial compensation
  • China's financial system
  • Fixed income

Courses Taught

  • Debt Instruments and Markets
  • Financial Theory IV: Continuous-Time Finance
  • Social Impact Core: Business and Its Publics

Academic Background

Ph.D., Finance, 1995
University of Pennsylvania

M.A., Mathematics, 1993
University of Pennsylvania

M.A., Finance, 1992
University of Pennsylvania

B.S., Economics, 1987
University of Pennsylvania

Awards & Appointments

Nominated for Journal of Finance Brattle Prize for best paper in corporate finance 2000

Selected Publications

Jennifer Carpenter, Richard Stanton and Nancy Wallace (2010)
Optimal exercise of executive stock options and implications for firm cost
Journal of Financial Economics, 98, 315-337

Jennifer Carpenter, Philip H. Dybvig and Heber K. Farnsworth (2010)
Portfolio performance and agency
Review of Financial Studies, 23, 1-23.

Jennifer Carpenter and Viral Acharya (2002)
Corporate bond valuation and hedging with stochastic interest rates and endogenous bankruptcy
Review of Financial Studies, 15, 1355-1383.

Jennifer Carpenter, Mark M. Carhart, Anthony W. Lynch, and David K. Musto (2002)
Mutual fund survivorship
Review of Financial Studies, 15, 1439-1463.

Jennifer Carpenter and Barbara Remmers (2001)
Executive stock option exercises and inside information
Journal of Business 74, 513-534.

Jennifer Carpenter (2000)
Does option compensation increase managerial risk appetite
Journal of Finance, 55, 2311-2331.

Jennifer Carpenter and Anthony W. Lynch (1999)
Survivorship bias and attrition effects in measures of performance persistence
Journal of Financial Economics 54, 337-374.

Jennifer Carpenter (1998)
The exercise and valuation of executive stock options
Journal of Financial Economics 48, 127-158.