Aswath Damodaran is widely regarded as one of the most famous professors in the field of valuation, often dubbed the "Dean of Valuation" for his extensive work and accessibility. However, there are other notable figures whose contributions have also shaped the discipline, particularly in academic, practitioner, and educational contexts.
Below, I’ll highlight the most famous valuation professors, focusing on their impact, recognition, and relevance to your interest (like Damodaran’s blend of theory and practice). I’ll draw from their reputations in finance literature, teaching, and industry influence, based on what’s widely known up to March 19, 2025.
1. Aswath Damodaran (NYU Stern School of Business)
- Why Famous: Damodaran’s fame stems from his comprehensive valuation frameworks (e.g., DCF, relative valuation), prolific writing (books like Investment Valuation, The Dark Side of Valuation), and open-access resources (NYU classes online, "Musings on Markets" blog). His ability to bridge academic rigor with practical application—think valuing Tesla or AMZN with narrative-driven cash flows—sets him apart.
- Impact: Voted Professor of the Year multiple times at NYU, featured in Forbes, CNBC, and BusinessWeek as a top business school professor. His equity risk premium research and datasets are staples for practitioners.
- Relevance: If you’re drawn to Damodaran, it’s likely his clarity on complex valuations (e.g., growth companies) and real-world focus.
2. Michael Mauboussin (Columbia Business School, Morgan Stanley)
- Why Famous: Mauboussin is a hybrid academic-practitioner, known for The Success Equation and More Than You Know. He emphasizes probabilistic valuation, decision-making under uncertainty, and market efficiency—less formulaic than Damodaran but deeply influential in behavioral finance.
- Impact: As an adjunct professor at Columbia and former Morgan Stanley strategist, his work on base rates and expectations investing (e.g., valuing intangibles) resonates with hedge funds and asset managers.
- Relevance: Less textbook-driven than Damodaran, but excels at framing valuation as a strategic exercise, especially for volatile markets.
3. Stephen Penman (Columbia Business School)
- Why Famous: Penman’s Accounting for Value and research on residual income valuation (RIV) have made him a giant in accounting-based valuation. He focuses on how financial statements articulate into intrinsic value, contrasting Damodaran’s cash flow focus.
- Impact: Highly cited in academic circles (e.g., Journal of Accounting Research), his work underpins modern valuation courses emphasizing balance sheet drivers over market multiples.
- Relevance: If you’re into statement articulation (like your prior interest), Penman’s your guy—less flashy but foundational.
4. Robert Parrino (University of Texas at Austin)
- Why Famous: Co-author of Fundamentals of Corporate Finance (with Ross and Westerfield), Parrino’s valuation teachings are widely adopted in MBA programs. His research on corporate governance and valuation (e.g., cost of capital) complements practical applications.
- Impact: Less public-facing than Damodaran, but his textbook influence and focus on firm-specific valuation metrics (e.g., WACC adjustments) are pervasive.
- Relevance: A quieter giant—great if you want a structured, classroom-style approach.
5. Sheridan Titman (University of Texas at Austin)
- Why Famous: Co-author of Valuation: The Art and Science of Corporate Investment Decisions, Titman blends real options with traditional valuation. His research on asset pricing and capital structure informs valuation nuances.
- Impact: Highly respected in academia (e.g., Journal of Finance), his work appeals to those valuing flexibility in investments (e.g., tech or R&D-heavy firms).
- Relevance: Less prominent than Damodaran but offers a sophisticated twist if you’re into option-like valuation.
6. Tim Koller (McKinsey & Company, Adjunct at NYU Stern)
- Why Famous: Lead author of Valuation: Measuring and Managing the Value of Companies (with Goedhart and Wessels), a practitioner’s bible used by consultants and corporates. His focus is on DCF and strategic valuation for M&A.
- Impact: Less academic fame, more industry clout—McKinsey’s go-to valuation expert, influencing CEOs and CFOs.
- Relevance: If you lean toward corporate or consulting applications, Koller’s practical, polished approach rivals Damodaran’s accessibility.
Honorable Mentions
- Richard Brealey (London Business School): Co-author of Principles of Corporate Finance—classic valuation theory, less public than Damodaran.
- Stewart Myers (MIT Sloan): Brealey’s co-author, known for capital structure’s valuation impact (e.g., MM theorems).
Why Damodaran Stands Out
Damodaran’s edge lies in his public reach (free NYU classes, blog, YouTube), practical tools (valuation spreadsheets), and narrative focus (e.g., valuing FAANG stocks with stories + numbers). Others like Penman or Titman are academic heavyweights, Mauboussin bridges theory and practice, and Koller dominates consulting—but none match Damodaran’s blend of accessibility and depth.
Relative Fame
- Academic Citations: Penman and Titman lead (e.g., h-index ~60-70), Damodaran close (~50-60).
- Public Profile: Damodaran tops (25M blog views, media presence), followed by Mauboussin and Koller.
- Teaching: Damodaran’s online reach (millions) dwarfs others, though all are award-winning educators.
Your Context
Since you’re drawn to Damodaran (and rightly so for his clarity on SBC and dilution), you might also vibe with:
- Mauboussin: For probabilistic tweaks to your formula.
- Penman: If you dig deeper into statement articulation (e.g., your AMZN/GOOGL data).
- Koller: For a polished, practitioner lens on your revenue-based model.