Joined Stern 2012
Leonard N. Stern School of Business
Tisch Hall
40 West Fourth Street, 7-21
New York, NY 10012
Joined Stern 2012
Leonard N. Stern School of Business
Tisch Hall
40 West Fourth Street, 7-21
New York, NY 10012
Belén Villalonga is a Professor of Management and Organizations, a Yamaichi Faculty Fellow, and a Professor of Finance (by courtesy) at New York University’s Stern School of Business. Between 2001 and 2012 she was a faculty member at the Harvard Business School.
Professor Villalonga’s work focuses on family business, corporate strategy and corporate governance. She has written several articles on how family ownership and control influence firms’ governance and strategy and, ultimately, their performance. She has also studied extensively the area of corporate diversification. Her award-winning research has been published in leading academic journals and cited over 1,800 times in scientific publications (per ISI Web of Science) and over 9,300 in research papers (per Google Scholar). It has also been featured on CNBC, NPR, The Economist, Bloomberg Business Week, the Financial Times, the Wall Street Journal, Fortune, Forbes and many other international business publications. Professor Villalonga serves as an independent director at three companies that are global leaders in their industries: Grifols (hemoderivatives)—where she chairs the Audit Committee—, Acciona (renewable energy and infrastructure), and Talgo (high-speed trains)—where she chairs the Strategy Committee.
She holds a Ph.D. in Management and an M.A. in Economics from the University of California at Los Angeles, where she was a Fulbright Scholar. She also holds a second Ph.D. in Business Economics from the Complutense University of Madrid. She is fluent in Spanish, English, and French, and conversant in Portuguese and Italian.
Ph.D., Management, 2001
University of California, Los Angeles
Ph.D., Economic and Management Sciences, 2000
Universidad Complutense de Madrid
M.A., Economics, 1998
University of California, Los Angeles
B.A., Economic and Management Sciences, 1991
Colegio Universitario de Estudios Financieros, Madrid
Academy of Management Association | Distinguished Paper Award, Glueck Best Paper Award, Business Policy and Strategy Division | 2012 |
Harvard Business School | Junior Faculty Recipient, Wyss Award for Excellence in Mentoring Doctoral Students | 2010 |
European Corporate Governance Institute (ECGI) | Standard Life Investments Finance Prize for the best paper in the Finance Working Paper series | 2007 |
INSEAD | Andr? Hoffman Visiting Professor of Family Enterprise | 2007 |
Acciona | Independent Director, 2006 - present | 2006 |
Harvard Business School | Associate Professor, Finance Unit, 2006 - 2012 | 2006 |
Family Firms Institute | Best Unpublished Research Paper Award | 2006 |
Journal of Finance | First Prize, 2004 Brattle Prize for outstanding papers | 2005 |
Financial Management | First Prize, 2002-2004 Addison-Wesley Prize for the best papers | 2004 |
Harvard Business School | Assistant Professor, Finance Unit, 2001 - 2006 | 2001 |
Villalonga, Belén, and Raphael Amit (2010)
Family control of firms and industries
Financial Management, 39 (3), 863-904
Villalonga, Belén, and Raphael Amit (2009)
How are U.S. family firms controlled?
Review of Financial Studies, 22 (8), 3047-3091
Villalonga, Belén, and Raphael Amit (2006)
How do family ownership, control, and management affect firm value?
Journal of Financial Economics, 80 (2), 385-417
Villalonga, Belén, and Anita McGahan (2005)
The choice among acquisitions, alliances, and divestitures
Strategic Management Journal, 26 (13), 1183-1208
Villalonga, Belén (2004)
Diversification discount or premium? New evidence from the Business Information Tracking Series
Journal of Finance, 59, 479-506
Villalonga, Belén (2004)
Does diversification cause the 'diversification discount'?
Financial Management, 33 (2), 5-27
Belén Villalonga and Harold Demsetz (2001)
Ownership structure and corporate performance
Journal of Corporate Finance, 7, 209-233