Ph.D. Finance, University of California at Berkeley, 2006
MS Physics, University of Minnesota, 2001
BA Physics, Belarus State University, with Honors, 1999
Real Options; Capital Structure, Optimal Investment Financing, and Security Design; and Optimal Compensation, Incentives, and Tax
“Call Policy for Convertible Bonds and Signaling”
“Debt Covenants and the Firm's Commitment to Optimal Investment,” with Ilona Babenko and Kirak Kim
Career and Professional Awards; Teaching Awards
Teaching Evaluation Average 90/100; Lehman Brothers Research Fellowship, 2005 Finalist; Hong Kong government grants, 2006, 2007, 2008; Dean Witter Fellowship, UC Berkeley; AFA Student Grant, 2004; FMA, 2004 Zurich Meeting, Best Paper Award; CRB Levi's Research Grant, 2004
“The Credibility of Open Market Share Repurchase Signaling,” with Ilona Babenko and Alexander Vedrashko, 2012, Journal of Financial and Quantitative Analysis, forthcoming
"Financing Real Investment with Employee Stock Options," with Ilona Babenko and Michael Lemmon, forthcoming in the Journal of Finance.
"Analyzing the Tax Benefits of Employee Stock Options," with Ilona Babenko, Journal of Finance, August 2009
"Taxation, Agency Conflicts, and the Choice Between Callable and Convertible Debt," with Christopher Hennessy, Journal of Economic Theory, 43 (1), November 2008, 374-404.
"Can Real Options Explain Financing Behavior?", Journal of Financial Economics, 89 (2), August 2008, 232-252.
ASU is a tier 1 research university and W. P. Carey is proud of its strong tradition of teaching and classroom excellence. Our students directly benefit from the research and theories our faculty brings into the classroom. Below is a list of courses being taught during the current semester by this faculty member. Click a course to view it in the ASU course catalog.
FIN 790 - Reading and Conference
Independent study in which a student meets regularly with a faculty member to discuss assignments. Course may include such assignments as intensive reading in a specialized area, writing a synthesis of literature on a specified topic, or writing a literature review of a topic.
FIN 795 - Continuing Registration
Used in situations where registration is necessary but where credit is not needed. Replaces arbitrary enrollment in reading and conference, research, thesis, dissertation, etc. Used by students when taking comprehensive examinations, defending theses or dissertations, or fulfilling the continuous enrollment requirement in doctoral programs. Credit is not awarded, and no grade is assigned.
FIN 799 - Dissertation
Supervised research focused on preparation of dissertation, including literature review, research, data collection and analysis, and writing.