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David Chambers

David Chambers

University Lecturer in Finance
Co-Director of the Centre for Endowment Asset Management (CEAM)

BA (University of Oxford), MSc (London Business School), MSc and PhD (London School of Economics)

Professional experience

Prior to returning to full-time education in 2001, Dr Chambers worked for 20 years in investment banking at Barings, Hotchkis & Wiley and Merrill Lynch. He gained experience in asset management, mergers and acquisitions and venture capital in Europe, Japan and the United States. Dr Chambers is Director of the Centre for Endowment Asset Management at CJBS, an Associate Director of the Centre for Financial History and a member of the Cambridge Corporate Governance Network (CCGN).

Previous appointments

Dr Chambers was a post-doctoral research fellow in the Department of Economics, University of Oxford, from 2005 to 2008, and taught on the Masters in Financial Economics and the MBA programmes at Saïd Business School, University of Oxford.

Awards & scholarships

  • Keynes Fellowship, University of Cambridge, 2013
  • "The Norway Model" voted 'Outstanding Article' by the readers of the Journal of Portfolio Management (with Elroy Dimson and Antti Ilmanen), 2013
  • Thomas K. McCraw Fellow, Harvard Business School, Fall 2012
  • Ashton Prize for the best article in the last two years by an early career researcher published in The Economic History Review (for "Gentlemanly capitalism revisited"), 2011
  • Coller Institute of Private Equity Research Award, 2007
  • Economic History Society New Researcher Prize, 2005
  • LSE Departmental Teaching Prize, 2003/4

Research interests

Empirical corporate finance, especially IPOs; asset management, particularly in relation to endowments and foundations; financial history; and law and finance.

David Chambers is a member of the Finance & Accounting subject group.

Selected publications

Chambers, D. (2009) "Gentlemanly capitalism revisited: a case study of the underpricing of initial public offerings on the London Stock Exchange, 1946-86." Economic History Review, 62(1): 31-56

Chambers, D. and Dimson, E. (2009) "IPO underpricing over the very long-run." Journal of Finance, 64(3): 1407-1443 (DOI: 10.1111/j.1540-6261.2009.01468.x)

Chambers, D., Dimson, E. and Ilmanen, A. (2012) "The Norway model." Journal of Portfolio Management, 38(2): 67-81 (DOI: 10.3905/jpm.2012.38.2.067)

Chambers D. and Dimson E. (2013) "Retrospectives: John Maynard Keynes, investment innovator." Journal of Economic Perspectives, 27(3): 213-228 (available online via the SSRN)

Chambers, D. and Dimson, E. (2014) "Keynes the stock market investor." Journal of Financial and Quantitative Analysis (forthcoming) (available online via the SSRN)

Chambers, D. and Esteves, R. (2014) "The first global emerging markets investor: Foreign & Colonial Investment Trust 1880-1913." Explorations in Economic History (DOI: 10.1016/j.eeh.2013.08.004) (published online Sep 2013; forthcoming in print)

More publications

Contact details

David Chambers
Cambridge Judge Business School
University of Cambridge
Trumpington Street
Cambridge CB2 1AG

Tel: +44 (0)1223 330759
Fax: +44 (0)1223 339701
Mobile: +44 (0)7733 134529

Research impact

Investing in 2013? Ask John Maynard Keynes

Economist John Maynard Keynes ran the endowment fund at King’s College from 1921 until his death in 1946. His highly successful approach is providing valuable insight for today’s investors.

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