Department of Finance
Morten Sørensen is a Professor of Finance at Copenhagen Business School, an Adjunct Professor of Finance and Economics at Columbia Business School, and a Research Fellow at Centre for Economic Policy Research. Morten Sørensen has previously been an Assistant Professor of Finance at University of Chicago, an Associate Professor of Finance and Economics at Columbia Business School, and a Faculty Research Fellow at National Bureau of Economic Research.
Morten Sørensen's research is in the areas of Entrepreneurial Finance, Venture Capital, and Private Equity. His research is about understanding the behavior, performance, and economic effects of venture capital and private equity both in individual transactions and in the broader economy. His studies have investigated the risks, returns, and illiquidity inherent in venture capital, private equity, and other alternative investments; the effects of private equity and venture capital investments on individual companies and for industries; and the role of management in venture capital and buyout deals. He has been awarded numerous research grants, including a Sapere Aude Forskningsleder grant and a Netspar grant, both exceeding USD 1M. His research has been presented worldwide at numerous universities and conferences. It has been featured in the Wall Street Journal, New York Times, Financial Times, Bloomberg, CNBC, and BusinessWeek. It has been published in leading academic journals, including the Journal of Finance, Review of Financial Studies, Journal of Financial Economics, and Management Science.
Sørensen teaches "Venture Capital and Private Equity" at Copenhagen Business School and "Entrepreneurial Finance" at Columbia Business School. He has advised PhD students who have joined the faculties at Stanford, Cornell, Wharton, New York University, UC-Berkeley and London School of Economics. He has been an academic advisor to the European Venture Capital Association and an expert witness in several cases of litigation involving private equity firms (has not been deposed).
Morten is married, with two daughters. He was born in Denmark, where he received a master's degree in economics from Aarhus University. He moved to the United States in 1999 where he received a PhD in Economics from Stanford University. In 2014, he returned with his family to Denmark and joined the faculty at Copenhagen Business School. They live in Humlebæk, Denmark.
Valuing Private Equity, Morten Sorensen, Neng Wang, and Jinqiang Yang, Review of Financial Studies, 2014, forthcoming.
Which CEO Characteristics and Abilities Matter?, Steven Kaplan, Mark Klebanov, and Morten Sorensen, 2012, Journal of Finance, vo. 67 (3), pp. 973–1007.
Private Equity and Long-Run Investment: The Case of Innovation, Josh Lerner, Morten Sorensen, and Per Strömberg, 2011, Journal of Finance, vol. 66 (2), pp. 445–477.
Risk and Return Characteristics of Venture Capital-Backed Entrepreneurial Companies, Arthur Korteweg and Morten Sorensen, 2010, Review of Financial Studies, vol. 23 (10), pp. 3738–3772.
How Smart is Smart Money: A Two-Sided Matching Model of Venture Capital, Morten Sorensen, 2007, Journal of Finance, vol. 62, pp. 2725–2762.
Cambridge, MA : National Bureau of Economic Research (NBER) 2017, 53 p. (National Bureau of Economic Research. Working Paper Series, No. 23832)
In: Management Science, Vol. 63, No. 4, 3.2017, p. 1198-1213
In: Journal of Financial Economics, Vol. 124, No. 3, 2017, p. 535-562
New York : Columbia Business School 2016, 50 p. (Columbia Business School Research Papers Series, No. 16-27)
Paper presented at The 14th International Paris December Finance Meeting, 2016
In: Real Estate Economics, Vol. 44, No. 1, 2016, p. 41-86
In: Financial Analysts Journal, Vol. 71, No. 4, 2015, p. 43-50
In: Review of Financial Studies, Vol. 27, No. 7, 2014, p. 1977-2021