Carola Frydman is an expert in corporate finance, corporate governance, executive compensation, and labor economics. Professor Frydman specializes in the labor market for managerial talent, the structure and determinants of executive compensation, and the valuation and governance of corporations, including family-owned firms. Her research also focuses on financial intermediation, financial crises, and securities markets. She is a visiting scholar at the Federal Reserve Bank of Chicago.
Professor Frydman has been retained as an expert witness and has submitted an expert report.
Expertise in financial and labor markets, executive compensation, and corporate performance
Professor Frydman is a leading scholar on long-term evolution of U.S. financial and labor markets. Her research analyzes how technological change, tax policy, and skill demand influence executive compensation and managerial careers. She also examines how financial market structures and institutions—including credit access, credit ratings, antitrust policy, and financial regulation—affect firm performance and valuation.
Professor Frydman’s work has been published in leading academic journals, such as the American Economic Review, the Journal of Political Economy, the Journal of Financial Economics, and the Review of Financial Studies. Her research has been featured in major media outlets such as The Economist, the New York Times, NPR, and the Wall Street Journal.
Academic leadership and professional contributions
Professor Frydman is a research associate at the National Bureau of Economic Research (NBER) and a research member of the European Corporate Governance Institute (ECGI). She currently serves as an associate editor of the Journal of Finance and previously served as coeditor of Explorations in Economic History and associate editor of the Review of Financial Studies.
At the Kellogg School of Management, Professor Frydman has taught corporate finance and valuation to M.B.A. and executive M.B.A. students and business and financial history to undergraduates for nearly fifteen years. Since 2021, she has served as the faculty director of the John L. Ward Center for Family Enterprises, a leading center dedicated to research and education on the management and performance of family businesses and family offices.
Before joining Kellogg, Professor Frydman was an assistant professor of economics at Boston University and an assistant professor of finance at MIT Sloan School of Management.