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Andres Almazan

Director of Canfield Business Honor Program

Department:     Finance

Additional Titles:     Professor; Bank of America Centennial Fellow

Industry Areas:     Business Management, Capital Markets, Investment Banking

Research Areas:     Agency Theory, Banking, Capital Markets, Capital Structure, Corporate Governance, Mergers and Acquisitions

Andres Almazan is a professor of finance and director of the Canfield Business Honors Program for The University of Texas at Austin’s McCombs School of Business. Along with working to bolster student success with the Business Honors Program, he has taught courses on finance and economics since 2011.

Almazan is a respected researcher in finance and investment strategy, with published papers on financial structure, firm success, investment strategy, and the labor market being in several journals, including the Journal of Economics & Management Strategy, the Journal of Financial Economics, and The Journal of Finance. He has also been invited to present his research at financial conferences such as the Finance Forum in Madrid and events at the University of Amsterdam, McGill University, and Michigan State University.

His expertise in economics has been sought by editorial boards, as he served as a referee for the American Economic Review, the European Economic Review, the International Journal of Finance, and the Journal of Corporate Finance.

Almazan earned a Ph.D. in economics from the Massachusetts Institute of Technology. He also holds a master’s in economics from CEMFI, Madrid, and a bachelor’s in business administration from the University of Málaga.  





Outstanding Faculty Award: Elective Class (HMBA-Houston)



Outstanding Faculty Award: Elective Class (HMBA-Houston)


Joe D. Beasley Award for MBA Teaching at McCombs School of Business


Outstanding Faculty Award: Elective Class (HMBA-Houston)


Outstanding Faculty Award: Elective Class (EMBA-Mexico City)



Outstanding Faculty Award: Elective Class (HMBA-Houston)


Andres Almazan, Zhaohui Chen, and Sheridan Titman. 2017. Firm Investment and Stakeholder Choices: A Top-Down Theory of Capital Budgeting. Journal of Finance 72(5), 2179-2228.


Andres Almazan, Adolfo de Motta, and Sheridan Titman. 2015. Debt, Labor Markets, and the Creation and Destruction of Firms. Journal of Financial Economics 118(3), 636-657.


Andres Almazan, Alfredo Martin-Oliver, and Jesus Saurina. 2015. Securitization and Banks' Capital Structure. Review of Corporate Finance Studies 4(2), 206-238.


Andres Almazan, Aldolfo De Motta, Sheridan Titman, and Vahap Uysal. 2010. Financial Structure, Acquisition Opportunities, and Firm Locations. Journal of Finance 65(2), 529-563.


Andres Almazan, Javier Suarez, and Sheridan Titman. 2009. Firms' Stakeholders and the Costs of Transparency. Journal of Economics & Management Strategy 18, 871-900.


Andres Almazan, Sanjay Banerjee, and Adolfo de Motta. 2008. Attracting Attention: Cheap Managerial Talk and Costly Market Monitoring. Journal of Finance 63, 1399-1436.


Andres Almazan, Adolfo de Motta, and Sheridan Titman. 2007. Firm Location and the Creation and Utilization of Human Capital. Review of Economics Studies 74, 1305-27.


Jay C. Hartzell, Andres Almazan, and Laura T. Starks. 2005. Active Institutional Shareholders and Costs of Monitoring: Evidence from Executive Compensation. Financial Management (Financial Management Association) 34, p5-34.


Andres Almazan and Carlos A. Molina. 2005. Intra-Industry Capital Structure Dispersion. Journal of Economics and Management Strategy 14, 263-297.


Andres Almazan, Keith C. Brown, Murray Carlson, and David A. Chapman. 2004. Why Constrain Your Mutual Fund Manager? Journal of Financial Economics 73, 289-321.


Andres Almazan and Javier Suarez. 2003. Entrenchment and Severance Pay in Optimal Governance Structures. Journal of Finance 78.


Andres Almazan and Javier Suarez. 2003. Managerial Compensation and the Market Reaction to Bank Loans. Review of Financial Studies 16, 237-261.


Andres Almazan. 2002. A Model of Competition in Banking: Bank Capital vs. Expertise. Journal of Financial Intermediation 11, 87-121.