Stephen Penman is the George O. May Professor Emeritus and Special Lecturer in the Graduate School of Business, Columbia University. Prior to his appointment at Columbia in 1999, Penman was the L.H. Penney Professor in the Walter A. Haas School of Business at the University of California at Berkeley. He is also a Distinguished Professor at Bocconi University.
Penman earned a first-class honors degree in Commerce from the University of Queensland, Australia, and M.B.A. and Ph.D. degrees from the University of Chicago. His research is concerned with the valuation of equity and the role of accounting information in security analysis. He has published widely in finance and accounting journals, has three books on financial statement analysis and value investing, and has conducted seminars on fundamental analysis and equity evaluation for academic and professional audiences. He has served as an advisor to several investment funds and serves on the Board of Directors of UBS Financial Services Inc. Hedge Fund Solutions and is chair of its audit committee. He is a member of the Financial Economists Roundtable.