2003 - Bengt R. Holmstrom
"Corporate Governance"
Massachusetts Institute of Technology
Bengt R. Holmstrom is the Paul A. Samuelson
Professor of Economics at the Massachusetts
Institute of Technology, where he has taught since
1994. Previous academic affiliations include the
Kellogg School of Management, Yale University,
Universite Catholique de Louvaine, University of
Chicago, Stanford University, Helsinki School of
Economics, Stockholm School of Economics, and
the University of Helsinki. He holds a BS in
mathematics, physics and statistics, University of
Helsinki (1972), a MSc in operations research and
a PhD in business, Stanford University (1975 and

A recipient of honorary doctorates from the
University of Vaasa (Finland) and the Stockholm
School of Economics, Professor Holmstrom is a
fellow of the Econometric Society, the American
Academy of Arts and Sciences, the Finnish Society
of Sciences and Letters, and a foreign member of
the Royal Swedish Academy of Sciences. He is a
past recipient of grants and fellowships from the
Fulbright Foundation, the U.S. National Science
Foundation and others, and has delivered major
invited named lectures in universities and
conferences around the world.

In addition to his many editorial duties, Professor
Holmstrom has served, in advisory and research
capacities, major foundations, scientific societies,
universities, corporations, government agencies
and other organizations worldwide.

Professor Holmstrom has made seminal
contributions to the theory of the firm, particularly
in the areas of contracting and incentives, and has
written extensively about performance evaluation,
incentive design and corporate governance. His
recent research includes work on executive
compensation, corporate governance and
restructuring, the optimal scope of the firm, and
the demand and supply of liquidity.