Itzhak (Zahi) Ben-David

Professor Itzhak ("Zahi") Ben-David is the Neil Klatskin Chair in Finance and Real Estate at The Ohio State University Fisher College of Business. He serves as the Academic Director of the Ohio State University Center for Real Estate. He teaches real estate and finance classes to MBA students.

Dr. Ben-David has published in top finance and economics journals, such as Quarterly Journal of Economics, Journal of Finance, Journal of Financial Economics, and Review of Financial Studies. His work in recent years investigates the role of intermediaries in precipitating the housing bubble, and the aftermath of the housing crisis. Dr. Ben-David holds an MBA and PhD in finance from the University of Chicago, as well as a BS and MS in industrial engineering, a BA in accounting from Tel-Aviv University, and an MS in finance from London Business School.

Areas of Expertise

  • Corporate Finance
  • Behavioral Finance
  • Real Estate Markets


  • PhD, Finance, University of Chicago, Booth School of Business
  • MBA, University of Chicago, Booth School of Business
  • MS in Finance, London Business School
  • MS in Industrial Engineering, Tel-Aviv University
  • BS in Industrial Engineering, Tel-Aviv University
  • BA in Accounting, Tel-Aviv University
FIN 6212 - Finance II

Covers capital budgeting, market efficiency, derivatives, interest rate parity.

FIN 7241 - Real Estate Finance

This course provides a graduate-level framework for analyzing individual real-estate transactions (both commercial and residential) and real-estate assets as an asset class. We will cover three topics in depth. First, we will examine several valuation techniques used in the practice and understand their underlying assumptions. These practices include cash flow discounting, cap rates, and real-options. Second, we will discuss how real-estate assets are integrated in capital markets through Real-Estate Investment Trusts (REITs) and the securitization process. Third, we will discuss the role of real-estate assets in the financial crisis of 2008. We will heavily rely on case studies in the class, and will have several guest speakers from the real estate and banking industries.

MBA 6222 - Finance II

Covers capital budgeting, market efficiency, derivatives, interest rate parity.

MBA 6223 - Finance III

A market-oriented framework for analyzing the major types of financial decisions made by corporations. The course covers the following topics: present value techniques, capital budgeting, asset valuation, portfolio theory, asset pricing, market efficiency, options, capital structure, financial distress, financial modeling, risk management, mergers and acquisitions and ethics.

Publications in Refereed Journals


Book Chapters and Other Publications


The Financial Crisis




  • E-mail


    (614) 292-7843

    (614) 292-7062

    Department of Finance
    Fisher College of Business
    The Ohio State University
    606A Fisher Hall
    2100 Neil Avenue
    Columbus, OH 43210