James C VanHorne

A.P. Giannini Professor of Banking and Finance, Emeritus

Phone: (650) 723-2761

Email: vanhorne_james@gsb.stanford.edu

Academic Areas: Finance

Professor VanHorne has focused his research on issues in corporate finance, valuation, and on the term structure of interest rates. His some 60 articles in finance, economic, and management journals often involve empirical inquiry. He is the author of five books, three of which - Financial Management and Policy, 12th edition; Financial Market Rates and Flows, 6th edition; and Fundamentals of Financial Management, 12th edition, (coauthor) - have been widely used as texts in the U.S.A. and abroad. In addition, he has written 24 cases used in MBA courses in the school.

Bio

James VanHorne is the A.P. Giannini Professor of Finance, Emeritus, having come to Stanford in 1965. He has taught MBA courses in corporate finance, mergers and acquisitions, corporate restructuring, fixed-income securities, and government and nonprofit debt financing. He was the first recipient of the distinguished teaching award by MBA students, and recipient again in 1997. He is the past president of the American Finance Association and of the Western Finance Association, and has been an active member of the Financial Economists Roundtable. He also has served as Associate Editor of several leading finance journals.

He received his BA from DePauw University and MBA and PhD degrees from Northwestern University. In the mid-1970s he served as Deputy Assistant Secretary of the U.S. Treasury, and has served on several Federal and State of California commissions and advisory groups. VanHorne presently serves on two corporate and two nonprofit boards, and has served on five other boards in the past. His research involves such things as capital budgeting, the effect of inflation, interest rate theory and behavior, corporate finance, and financial innovation.

Academic Degrees

DSci (Hon.), 1986; PhD,Northwestern University 1964; MBA, 1961, AB, DePauw Univ., 1957.

Professional Experience

At Stanford since 1965.

Assoc. Dean for Academic Affairs, Stanford Business School,1976-80 and 1973-75; Deputy Asst. Secretary, U.S. Treasury, 1975-76; Director, Stanford MBA Program, 1970-73; Asst. Prof., Michigan State Univ., 1964-65; Commercial Lending Representative, Continental Illinois National Bank and Trust Co. of Chicago, 1958-62.

Selected Publications

  • Fundamentals of Financial Management, 13th. ed., (co-author): Prentice Hall, 2009
  • Financial Management and Policy, 12th ed.: Prentice Hall, 2002
  • Financial Market Rates and Flows, 6th ed.: Prentice Hall, 2001

Working Papers

  • 647: Government Security Dealers' Positions, Information and Interest-Rate Expectations
  • 410: Elimination of the Double Taxation of Dividends and Corporate Financial Policy
  • 205: Corporate Liquidity and Bankruptcy Costs
  • 243: Optimal Initiation of Bankruptcy Proceedings by Debt Holders
  • 384: Behavior of Default-Risk Premiums for Corporate Bonds and Commercial Paper
  • 131: Expected Inflation Implied by Capital Market Rates
  • 411: The Term Structure of Interest Rates and Restrictions on the Supply of Treasury Securities
  • 487: An Application of the CAPM to Divisional Required Returns
  • 519: The Return on Called Bonds
  • 537: Implied Tax Rates and the Valuation of Discount Bonds

Selected Cases

  • F247: Dougall & Gilligan Global Agency
  • F249: Marriott Corporation: Bondholders vs. Equityholders
  • F248: Pender, Wilson & Company
  • F214: Fazio Pump Corporation
  • F250: Morley Industries, Inc.

Awards and Honors

  • Sloan Teaching Excellence Award, 1997, Stanford Graduate School of Business
  • MBA Distinguished Teaching Award, 1997, Stanford Graduate School of Business
  • MBA Distinguished Teaching Award, (first recipient), 1982, Stanford Graduate School of Business

Centers/Programs

Affiliations

  • Associate Editor: Journal of Fixed Income
  • Board of Directors: Synnex Corp; Montgomery Street Income Securities; Geo Hazards Intl. Foundation
  • Member: American Finance Assn; Financial Management Assn.
  • Past Commissioner: Worker Compensation Reform Commission, State of California
  • Past Director: Bailard Fund Group; Knudsen Corp; Impell Corp; Suntron Corp.; Natl. Bureau of Economic Research; United California Bank

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