Title

Associate Professor of Finance in the International Business School

Economics
International Business School

Expertise

Asset Pricing, Corporate Finance, Credit Risk, International Finance

Profile

My primary area of expertise is finance, specifically empirical asset pricing. My research investigates the risks of corporate and sovereign default, the need to design governance structures that mitigate risk, and inefficiencies in financial markets. In the area of credit risk I have examined accurate default prediction and demonstrated the empirical superiority of reduced form models compared to credit ratings and distance to default. I have also investigated whether or not investors are appropriately compensated for exposure to default risk. My interest in corporate finance is reflected in studies investigating how default risk can be reduced by the introduction of contingent capital or governance structures. Another area of focus is behavioral finance, where I have examined the role of market frictions in explaining stock market anomalies as well as information flows between CDS and stock markets.