Faculty Directory
Marc Lipson headshot
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Marc L. Lipson

Professor
+1 (434) 924-4837
Unit: Darden School of Business
Department: Darden Graduate School of Business
Office location and address
FOB 247
90 Darden Blvd
Charlottesville, Virginia 22903
Education
B.A. in Anthropology, University of Virginia
MS in Accounting, University of Virginia
Ph.D. in Finance, University of Michigan
Biography

Professor Marc Lipson received his Ph.D. in finance from the University of Michigan and two degrees from the University of Virginia — a B.A. in Anthropology and an MS in Accounting. Before he began his doctoral studies, he worked as an accountant for Peat Marwick in its Boston office and before joining the faculty at the Darden School, he was an associate professor of finance at the University of Georgia.

Lipson’s principal area of research is market microstructure — the study of how market design and organization affects price formation and liquidity. His work has been widely published, including articles in the Review of Financial Studies, the Journal of Finance and the Journal of Financial Economics. He spent the 1998–99 academic year at the New York Stock Exchange as a visiting scholar and served on the NASDAQ Economic Advisory Board from 2004–06. He is currently co-Editor-in-Chief of Financial Management, the journal of the Financial Management Association and is also an associate editor for both the Journal of Financial Markets and the Journal of Corporate Finance.

Recent courses as listed in the Student Information System (SIS) Course Catalog:
GBUS 7251: Financial Management and Policies
Credits: 2
This corporate-finance course focuses on corporate policy and the tactics that increase the value of the corporation. The course starts by stressing how managers interface with the capital markets to learn the return required by the firm's different investors. This required return, or cost of capital, is used later as the key variable to assess whether capital-investment proposals can create value for stakeholders. Prerequisites: Restricted to Darden students.
GBUS 7252: Financial Management and Policies
Credits: 3
This corporate-finance course focuses on corporate policy and the tactics that increase the value of the corporation. The course starts by stressing how managers interface with the capital markets to learn the return required by the firm's different investors. This required return, or cost of capital, is used later as the key variable to assess whether capital-investment proposals can create value for stakeholders. Prerequisites: Restricted to Darden students.
GBUS 8171: International Corporate Finance
Credits: 2
This course explores the financial decisions of firms facing exchange related risks in global capital and product markets. This course examines capital allocation and raising activities in international settings with particular attention to transaction and economic exposure, financial and operating hedging activities, capital budgeting analytics, and global capital sourcing.
GBUS 8434: International Corporate Finance
Credits: 2
This course explores the financial decisions of firms facing exchange risks in a global capital market. Building on students' existing understanding of exchange rate determinants, the course examines transaction and economic exposure, hedging activities, capital budgeting, global capital sourcing, and financial strategy. Prerequisites: Restricted to Darden students.
GBUS 8515: Economy in Transition-Cuba
Credits: 2
Deeper understanding of Cuba's history, business context and economy, political and social context, and culture, with the ability to compare this to their own home and other global contexts that they have experienced. Insights into economic and social transition in the case of Cuba and how to think about what this kind of transition looks like in isolated or emerging economies.
GBUS 8530: Global Immersion
Credits: 2
This Darden Worldwide Course aims to develop a deeper understanding of a particular global business environment, what it takes to successfully enter and understand new business contexts, and how to develop a mindset as a leader across different cultures and institutions. The course accomplishes this by immersing students on-site in a new context to study these issues through engagement with local executives, global and local companies and organizations, meeting with government and community leaders, exploring activities of cultural and historical significance, and meeting with peers.
GBUS 8999: Darden Independent Study
Credits: 2–3
A Darden Independent Study elective includes either case development or a research project to be conducted by an individual student under the direction of a faculty member. Students should secure the agreement of a resident faculty member to supervise their independent study and assign the final grade that is to be based to a significant degree on written evidence of the individual student's accomplishment.