Navin Chopra
Navin Chopra

Clinical Associate Professor of Finance

Print Overview

Navin Chopra is Clinical Associate Professor of Finance. Prior to that he was on the faculty at Columbia University for 4 years and at New York University for over 12 years where he taught finance courses at NYU Stern School of Business and NYU Law School. He received his PhD in finance at the University of Michigan, Ann Arbor. He also obtained his MBA degree, specializing in finance, and his bachelor's degree in mechanical engineering. His area of expertise is in corporate finance, fixed-income securities, derivatives, valuation, equity instruments, venture capital markets, buyouts and other leveraged transactions, investments, and corporate finance. He has also taught at numerous financial institutions in the New York area. He has published articles in the topmost scholarly journals in finance and has received significant recognition in the academic profession. One of his papers received the 'All-Star' award as the most-cited paper published in the Journal of Financial Economics during 1993-2002. He also acts as an ad hoc referee for a number of finance journals.

Print Vita
Ph.D., 1990, Finance, University of Michigan
MBA, 1979, Business Administration, Indian Institute of Management
B.Tech, 1974, Engineering, Indian Institute of Technology

Academic Positions
Cinical Associate Professor of Finance, Finance, Kellogg School of Management, Northwestern University, 2013-present
Adjunct Professor of Finance, NYU Law School, New York University, 2002-present
Adjunct Associate Professor of Finance, Executive Education MBA, Stern School of Business, New York University, 1998-present
Visiting Associate Adjunct Professor of Finance, Anderson School of Management, UCLA, 2013-2013
Visiting Associate Professor of Finance, Kellogg School of Management, Northwestern University, 2011-2013
Adjunct Associate Professor, Columbia Business School, Columbia University, 2010-2010
Associate Professor of Finance, Columbia Business School, Columbia University, 2007-2010
Adjunct Associate Professor of Finance, Finance, Stern School of Business, New York University, 2006-2010
Visiting Associate Professor of Finance, University of Michigan Business School, 1999-2000
Visiting Associate Professor of Finance, University of Michigan Business School, 1998-1998
Full-Time Appointments, Stern School of Business, New York University, 1996-2006
Visiting Associate Professor of Finance, Finance, New York University, 1997-1998
Associate Professor of Finance, Lubin School of Business, Pace University, 1996-1999
Visiting Assistant Professor of Finance, University of Michigan Business School, 1993-1995
Assistant Professor of Finance, School of Business Management, Temple University, 1990-1995

Print Research
Chopra, Navin, Charles Lee, Andrei Shleifer and R. Thaler. 1993. Yes, Closed-End Fund Discounts Are a Sentiment Index. Journal of Finance.
Chopra, Navin, Charles Lee, Andrei Shleifer and R. Thaler. 1993. Summing Up. Journal of Finance.
Chopra, Navin, Josef Lakonishok and Jay Ritter. 1992. Measuring Abnormal Performance: Do Stocks Overreact ?. Journal of Financial Economics.
Chopra, Navin and Jay Ritter. 1989. Portfolio Rebalancing and the Turn-of-the-Year Effect. Journal of Finance.

Print Teaching
Full-Time / Part-Time MBA
Finance I (FINC-430-0)

Finance 1 covers managers' and investors' most fundamental finance decision: how to value a project or an asset. Managers must determine the value of building a factory, entering a new market, or purchasing an entire firm when deciding in which projects to invest. Similarly, individuals must assess the value of financial securities to decide how to invest their wealth. Using a combination of lectures and business cases, Finance 1 teaches the three principal methods for valuing projects or assets: discounted cash flow, multiples, and real options. These valuation tools lay the foundation for all work in capital markets and corporate finance.

Prerequisite: Business Analytics I (DECS-430)

Recommended Prerequisite: Business Analytics II (DECS-431) and Accounting for Decision Making (ACCT-430), which may be taken concurrently.

Finance II (FINC-431-0)

**This version of Finance II is designed for students who took Finance I during or after Fall 2014. This course will be offered in Fall 2014 in Evanston & Chicago and offered in Winter 2015 in Chicago.**

Finance II: Corporate Finance covers the financial knowledge you need to run a firm, whether the firm is a multi-billion international conglomerate or a three-person start up. You will learn how to answer the three fundamental question of corporate finance: (1) Capital structure or the funding decision: which source(s) of capital should you use to fund the firm's project? (2) Capital budgeting or the investment decision: which projects should you invest in? (3) Dividend decision: how should you deploy the capital that the project returns?

We will cover the three fundamental methods for valuing projects and firms: discounted cash flow (or net present value), real options, and multiples analysis. The class begins with a theoretical framework. The world of finance is very complex. Without a logical structure that you can use to frame and answer questions, you will rapidly become lost and will be unable to defend your position. The theoretical framework is valuable, however, only if you can use it to examine real world decisions. Thus the majority of class time will be devoted to applying the logical framework.

This course is important for anyone who plans to run a firm or a division, who hopes to be involved in the investment or funding decisions of the firm, who plans to work for a service provider who will assist the firm in analyzing these decisions (e.g., banking and consulting), or who plans to invest in firms or advise clients who will invest in firms. Even if you initially specialize in a different functional area, you want to understand how the finance function works. The most brilliant idea isn't useful if you cannot get it funded.

Recommended Prerequisites: ACCT-430 and MECN-430

Accelerated Corporate Finance (FINC-440-0)
Corporate finance covers the financial knowledge you need to run a firm, whether the firm is a multi-billion dollar international conglomerate or a three-person start up. Accelerated Corporate Finance will combine the material from Finance 1 and Finance 2 in an intensive one-quarter course. We will cover valuation (discounted cash flow, multiples, and real options), capital structure (how firms finance themselves and how they manage risk), and payout policy (should firms return capital to investors and if so how). For more details, you should read the descriptions of Finance 1 and Finance 2. The logical concepts will be covered in class, technical skills and intuition will be developed in class and through online exercises, and then the logic and tools will be applied to a set of valuation, financing, risk management, and payout cases. Given the pace of the course, students are expected to be prepared to put in the extra effort in class and outside of class. Basic finance knowledge (discounting) and accounting is assumed

Pre-requisite: Business Analytics I (DECS-430). Business Analytics II (DECS-431) and Accounting for Decision Making (ACCT-430) are recommended and may be taken concurrently.