Finance department boston university

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Boston University School of Management

Finance Department

Our Mission

The Finance Department of Boston University School of Management brings together a group of talented and prolific scholars and accomplished teachers who work in areas at the cutting edge of today's research in risk management, asset pricing, corporate governance and strategy, and lifecycle financial management. The notion of risk is the common thread underlying these areas of research. Risk affects all facets of economic and financial activities and is central to financial theory. The Finance Department seeks to advance our understanding of complex phenomena involving risk and to provide our students with a rich and broad program of study that will prepare them for career success.

Research programs in progress develop and use valuation methods, computational techniques, econometric methods, and empirical approaches to examine a wide variety of important issues.

The finance department abounds in new research energy, led by our top-ranked faculty. For a relatively small department we have great breadth, from theoretical asset pricing to applied corporate finance and investment management issues.

--Jack Aber, Recent Chair

Finance Faculty

PROFESSORS

Jack Aber, Professor Aber holds a DBA in finance from Harvard Business School, an MBA in finance from Columbia University, and a BS from Pennsylvania State University. His research focuses on financial institutions, risk management, and mutual fund and ETF performance and growth.

Rui Albuquerque, Associate Professor and Dean's Research Fellow Albuquerque holds a PhD and an MA in economics from the University of Rochester and a BA from the Universidade Cat?lica Portuguesa in Portugal. His research focus is international finance, capital markets, and governance.

Zvi Bodie, Norman and Adele Barron Professor in Management Bodie holds a PhD in economics from MIT. His research interests include investment management, financial literacy, pension finance, and financial system design.

Jerome Detemple, Professor and Everett W. Lord Distinguished Faculty Scholar Detemple holds a PhD in finance from the Wharton School, a Doctorat D'Etat ?s Sciences ?conomiques from Universit? Louis Pasteur (Strasbourg), and degrees from ESSEC and Universit? de Paris-Dauphine. Detemple's work focuses primarily on financial economics and mathematical finance. He is widely known for his contributions to valuation, risk management, and asset allocation. His current research revolves around optimal asset allocation, American-style derivatives, and lifecycle finance.

Yrj? Koskinen, Assistant Professor Koskinen received his PhD from INSEAD and MSc from the University of Helsinki. Koskinen's main research area is international finance, especially financial crises and the impact of the euro on corporations. He also specializes in financial contracting and corporate governance issues.

Nalin Kulatilaka, Wing Tat Lee Family Professor in Management Kulatilaka received his PhD from MIT, SM from Harvard University, and his BSc from Imperial College. Kulatilaka's research is in real options, energy intermediaries, financial contracting, and investments in and contracting for clean energy technologies including the Smart Grid.

Evgeny Lyandres, Assistant Professor Lyandres received his PhD in finance and his MS in applied economics from the University of Rochester. He holds an MS in finance and accounting from Tel Aviv University and a BA from Ben Gurion University in Israel. His research focus is theoretical corporate finance, empirical corporate finance, and industrial organization.

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Boston University School of Management Finance

Andrew Lyasoff, Associate Professor and Director, Mathematical Finance Program Lyasoff holds a PhD in mathematics from the University of Sofia in Bulgaria. His research interests are in equilibrium asset pricing, arbitrage asset pricing, exotic and multivariate options, and corporate finance.

Robert Marquez, Professor Marquez holds a PhD in economics from MIT and an AB from the University of California at Berkeley. His areas of interest are corporate finance and financial intermediation.

Allen Michel, Professor Michel completed his PhD in managerial economics from Cornell University and his MA in operations research at Yale University. He earned his undergraduate degree in physics from Carnegie Mellon University. His research interests include mergers and acquisitions, bankruptcy, corporate finance, governance, and legal and financial issues.

Michael Nowotny, Assistant Professor Nowotny received his PhD in finance at UCLA Anderson School of Management, and received his Diplom in economics and his Vordiplom in business economics from the University of Mannheim (Germany). His areas of interest include asset pricing, stochastic volatility, and portfolio choice, and econometrics. Nowotny received several fellowships at UCLA, including the Graduate Division Dissertation Year Fellowship and Landesstiftung Baden-Wurtemberg Fellowship.

Berardino Palazzo, Assistant Professor Palazzo completed his PhD in economics at New York University. He received his MA and BA in economics from Bocconi University in Milan, Italy. His areas of interest include asset pricing, corporate finance, macroeconomics, and econometrics.

Rodolfo Prieto, Assistant Professor Prieto holds a PhD in finance from Ecole Polytechnique Federale de Lausanne in Switzerland, an MSc in economics/finance from UPF in Spain, and a BSc in industrial engineering from PUCV in Chile. Prieto's research interests include asset pricing theory, portfolio and risk management, and financial econometrics.

Marcel Rindisbacher, Associate Professor and Department Chair Rindisbacher holds a PhD in economics from Universit? de Montr?al in Canada, an MSc in econometrics and mathematical economics from the London School of Economics in the UK, and a BA from the University of Berne in Switzerland. His areas of interest are asset pricing, portfolio choice, asset liability management, and quantitative risk management.

Israel Shaked, Professor Shaked holds a DBA from Harvard Graduate School of Business Administration and an MBA and two BAs from Hebrew University of Jerusalem. His research interests include solvency, capital market financial analysis, mergers and acquisitions, leveraged buyouts, valuation, bankruptcy, and fraudulent conveyance.

Donald Smith, Associate Professor and Interim Faculty Director, Investment Management Program Smith received his PhD in applied economics from the University of California at Berkeley. His research interests include fixed income markets and analysis, interest rate derivatives, inflation-index securities, and pension fund investment strategies.

Adam Zawadowski, Assistant Professor Zawadowski earned his PhD in economics from Princeton University, an MA in economics from Central European University, and an MSc in physics from Budapest University of Technology and Economics. His main research interest is how derivative and over-the-counter contracts affect risk in the financial system. He also studies the affect of asset allocation decisions of investors, especially the wealthy, on asset prices.

RECENT AND FORTHCOMING PUBLICATIONS Bodie, Z. & Taqqu, R. (2011). Risk Less and Prosper: Your Guide to Safer Investing. Wiley.

Lyandres, E. & Bernile, G. (2011). "Understanding Investor Sentiment: The Case of Soccer." Financial Management, 40(2), 357-380.

Lyandres, E., Grullon, G., & Zhdanov, A. (Forthcoming). "Real Options, Volatility, and Stock Returns." Journal of Finance.

Detemple, J., & Rindisbacher, M. (2012). "Diffusion Models of Asset Prices." In Handbook of Computational Finance. Duan, J.C., Gentle, J.E., & H?rdle, W.K. (Eds.) Springer Verlag.

Marquez, R., Allen, F., & Carletti, E. (2011). "Credit Market Competition and Capital Regulation." Review of Financial Studies, 24(4), 983-1018.

Smith, D.J. (2011). Bond Math: The Theory Behind Formulas. Wiley Finance.

Boston University School of Management 595 Commonwealth Avenue, Boston, MA 02215 l 617.353.9720 l management.bu.edu

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Boston University School of Management Finance

AFFILIATED FACULTY

Paolo Guasoni, Assistant Professor, Finance, and CAS Math Department Guasoni teaches in the Math Finance Program. He earned his PhD from the Scuola Normale Superiore, Pisa, Italy. His research interests include mathematical finance, probability, and stochastic processes.

Konstantinos Kardaras, Assistant Professor, Finance, and CAS Math Department Kardaras teaches in the Mathematical Finance Program. He earned his PhD at Columbia University and his MSc and BSc at the University of Athens, Greece.

Tanya Zlateva, Associate Dean for Academic Programs and Associate Professor of Computer Science, MET Zlateva teaches in the Mathematical Finance Program. She earned her PhD, MS, and BS all at Dresden University of Technology, Germany. Her research interests include computational modeling of visual perception, parallel and distributed processing, and pattern recognition.

TEACHING FACULTY

Adjunct Assistant Professor Ahmad Namini Jay Zagorsky

Post-Doctoral Associate Bela Szemely

Executive-in-Residence and Master Lecturer Mark Williams

Executive-in-Residence and Lecturer Steven Segal

Senior Lecturers Theodore Chadwick Kathryn Griner David Griswold Mark Roberts

Lecturers Francois Gadenne Renata Herrerias-Franco Robert James Michael Lee Keith Osher Bjorn Persson Chris Piros Miriam Schwartz-Ziv David Spieler Edward Szado

To learn more, visit: management.bu.edu/faculty-research/departments/finance

For general inquiries, please contact: Jane McGillicuddy Senior Program Coordinator Email: jmcgill@bu.edu Phone: (617) 353-2514 Fax: (617) 353-6667

Boston University School of Management 595 Commonwealth Avenue, Boston, MA 02215 l 617.353.9720 l management.bu.edu

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