Academic Appointments

2005	Assistant Professor of Finance Rotman School of Management, University of Toronto

Education

2005	London Business School Ph.D. in Finance
1999	New Economic School (Graduate School of Economics at Moscow) Cum Laude Master of Arts in Economics
1998	Moscow Institute of Physics and Technology Summa Cum Laude Master of Science in Applied Mathematics and Physics

Research Interests

       Credit risk; Corporate reorganization; Corporate finance

Publications

1. Do Bankruptcy Codes Matter? A Study of Defaults in France, Germany and the UK (with Julian Franks), Journal of Finance, Vol. 63, No. 2 (2008). [PDF]
2. Strategic Actions and Credit Spreads: An Empirical Investigation (with Ilya Strebulaev), Journal of Finance, Vol. 62, No. 6 (2007). [PDF]
3. Estimating the Cost of Risky Debt (with Ian Cooper), Journal of Applied Corporate Finance, Vol. 19, No. 3 (2007). [PDF]

Working Papers

1. What Triggers Default? A Study of the Default Boundary, 2010 (Revise & Resubmit at the RFS). (PDF)
2. A Market-Based Study of the Costs of Default, 2011 (with Ilya Strebulaev and Xiaofei Zhao). (PDF)
3. Cash Holdings and Credit Risk, 2011 (with Viral Acharya and Ilya Strebulaev). (PDF)
4. Excessive Continuation and the Costs of Flexibility in Financial Distress, 2008 (with Muji Rahaman).
5. Using Yield Spreads to Estimate Expected Returns on Debt and Equity, 2004 (with Ian Cooper). (PDF)
6. The Role of Debt Insurance, 2003.

Grants

2010	Social Sciences and Humanities Research Council ($61,500).     Nominated for the Aurora Prize, awarded to the best young researcher in Canada across all disciplines.
2006	Connaught Startup Grant ($10,000).

Presentations at Conferences

2009	Western Finance Association Meetings, San Diego. American Finance Association Meetings, San Francisco.
2008	Western Finance Association Meetings, Waikoloa. Northern Finance Association Meetings, Kananaskis Village.
2007	Moody's/KMV Credit Risk Conference, Copenhagen. CERP Corporate Finance and Risk Management Conference, Solstrand. Gutmann Center Symposium on Credit Risk, Vienna.
2006	Western Finance Association Meetings, Keystone.
2005	Western Finance Association Meetings, Portland. American Finance Association Meetings, Philadelphia. European Finance Association Meetings, Moscow (2 papers). Moody's/KMV Credit Risk Conference, London (2 papers). NBER Corporate Finance Program Meetings, Cambridge MA.
2004	American Finance Association Meetings, San Diego. Risk Magazine's 2004 Annual Credit Risk Summit Trans-Atlantic PhD Conference, London.
2003	European Finance Association Meetings, Glasgow (2 papers). Financial Management Association Meetings, Denver. European Financial Management Association Meetings, Helsinki. Eastern Finance Association Meetings, Lake Buena Vista.
2002	European Economics Association Meetings, Venice.

Invited Presentations

2010	Arizona State University.
2009	University of Texas-Dallas.
	HEC Montreal.
	Binghamton University.
2007	University of Illinois at Urbana-Champaign.
	McMaster University.
	Bank of Canada.
2005	Rotman School of Management, University of Toronto.
	Goizueta School of Business, Emory University.
	Olin School of Business, Washington University in Saint Louis.
	Mendoza College of Business, University of Notre Dame.
2004	Bank of England.
	University of Venice.
	University of Verona.

Conference Discussions

American Finance Association, Western Finance Association, European Finance Association, Northern Finance Association, Eastern Finance Association, Financial Research Association (2008 Best Discussant Award).

Refereeing and Grant Evaluations

Journal of Finance, Review of Financial Studies, Review of Finance, Econometrica, Management Science, Journal of Law Economics & Organization, Economica, Oxford Economic Papers, Journal of International Business Studies, European Financial Management, Journal of Empirical Finance, Social Sciences and Humanities Research Council of Canada (SSHRCC).

Other Research

A Comparative Analysis of the Recovery Process and Recovery Rates for Private Companies in the U.K., France, and Germany, 2004, Standard Poor's Risk Solutions (with Julian Franks and Arnaud de Servigny).

Teaching

Advanced Corporate Finance	2008-2010, Rotman School of Management.
Ph.D. Seminar in Corporate Finance	2008-2010, Rotman School of Management.
Foundations of Business Finance	2006-2007, Rotman School of Management.
Mergers & Acquisitions	2002-2003, Toulouse Business School.

Teaching Awards

2009, 2010

Advanced Corporate Finance

Other Professional Activities

2002-2004	Standard & Poor's Risk Solutions, Consultant in LGD research project.
1998-1999	Project "Financial Industrial Groups in Transition Economies" sponsored by Ford Foundation and New Economic School.