Viral V. Acharya
Viral V. Acharya is an Associate Professor of Finance at London Business School since Fall 2001 and a Research Affiliate of the Center for Economic Policy Research (CEPR). He holds a Ph.D. in Finance from Stern School of Business, New York University and a Bachelor of Technology in Computer Science and Engineering from Indian Institute of Technology, Mumbai. His research interests are in the regulation of banks and financial institutions, corporate finance, valuation of corporate debt, and asset pricing with a focus on the effects of cash management and liquidity risk. He has published articles in the Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Business, and Financial Analysts Journal. He is the recipient of Best Paper Award in Corporate Finance - Journal of Financial Economics, 2000, Best Paper Award in Equity Trading - Western Finance Association Meetings, 2003, Outstanding Referee Award for the Review of Financial Studies, 2003, and the inaugural Lawrence G. Goldberg Prize for the Best Ph.D. in Financial Intermediation.
Mark H. Adelson
Mark Adelson is a founding member of Adelson & Jacob Consulting, LLC. The firm specializes in the areas of securitization and real estate. It offers (i) expert witness services for litigation, (ii) strategic consulting services, and (iii) investment consulting services. Additional information about the firm is available at: www.adelsonandjacob.com
Until July 2007, Adelson was a managing director and head of structured finance research at Nomura Securities. At Nomura he authored numerous reports on a wide variety of securitization topics and worked closely with other members of the fixed income division toward enhancing Nomura's securitization activities.
Before Nomura in February 2001, Adelson worked at Moody's Investors Service for 9½ years. From 1995 through January 2001 Adelson was a managing director in Moody's structured finance group and, at various times, headed or co headed Moody's ABS, MBS, and ABCP teams. Adelson joined Moody's in 1991 as a senior analyst in the asset-backed commercial paper area.
Before joining Moody's, Adelson practiced law for six years at the firm of Thacher Proffitt & Wood, where he worked on mortgage-backed securities transactions and related regulatory matters. Adelson is a member of the New York bar. He holds a JD from the University of Michigan (1985) and an AB in economics from Princeton University (1982).
Edward I. Altman
Edward Altman is the Max L. Heine Professor of Finance at the Stern School of Business, New York University. Since 1990, he has directed the research effort in Fixed Income and Credit Markets at the NYU Salomon Center and is currently the Vice-Director of the Center. Prior to serving in his present position, Professor Altman chaired the Stern School's MBA Program for 12 years. He has been a visiting Professor at the Hautes Etudes Commerciales and Universite de Paris-Dauphine in France, at the Pontificia Catolica Universidade in Rio de Janeiro, at the Australian Graduate School of Management in Sydney and Luigi Bocconi University in Milan.
Prof. Altman has an international reputation as an expert on corporate bankruptcy, high yield bonds, distressed debt and credit risk analysis. He was named Laureate 1984 by the Hautes Etudes Commerciales Foundation in Paris for his accumulated works on corporate distress prediction models and procedures for firm financial rehabilitation and awarded the Graham & Dodd Scroll for 1985 by the Financial Analysts Federation for his work on Default Rates on High Yield Corporate Debt and was named "Profesor Honorario" by the University of Buenos Aires in 1996. He is currently an advisor to the Centrale dei Bilanci in Italy and to several foreign central banks. Prof. Altman is also the Chairman of the Academic Council of the Turnaround Management Association. Prof. Altman was named to the Max L. Heine endowed professorship at Stern in 1988. He was inducted into the Fixed Income Analysts Society Hall of Fame in 2001 and elected President of the Financial Management Association (2002). Professor Altman was named one of the 100 most influential people in the world in 2005 by the publication Treasury and Risk Management. He received his MBA and Ph.D. in Finance from the University of California, Los Angeles.
Professor Altman is one of the founders and was an Executive Editor of the international publication, the Journal of Banking and Finance and Advisory Editor of a publisher series, the John Wiley Frontiers in Finance Series. Professor Altman has published or edited almost two dozen books and well over 100 articles in scholarly finance, accounting and economic journals. He is the current editor of the Handbook of Corporate Finance and the Handbook of Financial Markets and Institutions and the author of a number books, including Recent Advances in Corporate Finance; Investing in Junk Bonds; Distressed Securities: Analyzing and Evaluating Market Potential and Investment Risk; and his most recent works on Corporate Financial Distress and Bankruptcy(2005); Managing Credit Risk: The Next Great Financial Challenge (2007); Recovery Risk (2005); Bankruptcy, Credit Risk and High Yield Junk Bonds (2002). His work has appeared in many languages including French, German, Italian, Japanese, Korean, Portuguese and Spanish.
Prof. Altman's primary areas of research include bankruptcy analysis and prediction, credit and lending policies, risk management in banking, corporate finance and capital markets. He has been a consultant to several government agencies, major financial and accounting institutions and industrial companies and has lectured to executives in North America, South America, Europe, Australia-New Zealand, Asia and Africa. He has testified before the U.S. Congress, the New York State Senate and several other government and regulatory organizations and is a Director and a member of the Advisory Board of a number of corporate, publishing, academic and financial institutions.
Dr. Altman is a member of the Board and past Chairman of the Board of Trustees of the InterSchool Orchestras of New York and was a founding member of the Board of Trustees of the Museum of American Financial History.
Amit Arora
Amit Arora is a Managing Director at Bear Stearns in the Structured Credit Derivatives Trading group in New York. Amit trades correlation products such as standard High Yield and Loan CDX Tranches and bespoke synthetic CDOs. Structured Credit Derivatives Trading Group is responsible for structuring, pricing, trading, and hedging of all non-single name credit derivative products in investment grade and high yield credits. He joined Bear Stearns in Aug 2003.
Amit received a Bachelor of Technology in Mechanical Engineering from Indian Institute of Technology (IIT Bombay) in 1997 and a M.B.A. in Finance from Stern School of Business, New York University in May 2003.
Amit worked at Citibank with the Foreign Exchange Treasury desk from 1997 - 2001.
He is a CFA and FRM Charter holder.
Hui Chen
Hui Chen is Assistant Professor of Finance at MIT Sloan School of Management. Hui Chen's research interests are in asset pricing, and its connections with corporate finance. He is particularly interested in the interactions between the macro economy and term structure, credit risk, capital structure, and investment decisions. His recent research projects apply business cycle models to explain the credit spreads and corporate financing behavior.
Pierre Collin-Dufresne
Pierre Collin-Dufresne is a Vice President in the Quantitative Strategies Group of GSAM which he joined in July 2005. Pierre is currently on leave from the Haas School of Business of U.C. Berkeley where he has been an Associate Professor of Finance since 2004. After obtaining his Ph.D. in 1998 from the HEC School of Management, Paris, France, he started as an Assistant Professor of Finance at the Graduate School of Industrial Administration of Carnegie Mellon University, where he became Associate Professor in 2003. Pierre's research interests include Asset and Contingent Claim Pricing, Fixed Income Securities, Default Risk, Emerging Markets, International Finance, and Real Estate Economics. His research has been published in refereed journals such as Econometrica, Journal of Finance, Stochastic Processes and their Applications, Journal of Banking and Finance and Journal of Derivatives. He is a member of the NBER and of the Advisory Research Board of Moody's. He has served as associate editor for Finance & Stochastics, the Journal of Quantitative Financial Analysis, the Review of Financial Studies and Mathematics & Financial Economics.
Sanjiv Ranjan Das
Sanjiv Ranjan Das is an Associate Professor of Finance at Santa Clara University. He came to SCU from Harvard Business School and spent a year at UC Berkeley. Prior to joining Harvard, Professor Das was a Vice-President at Citibank, N.A. in the Asia-Pacific region. Professor Das has an undergraduate degree (B.Com) in Accounting and Economics from the University of Bombay, an MBA (PGDBM) from the Indian Institute of Management, Ahmedabad, a Master of Philosophy in Finance from New York University, and a Ph.D. in Finance from New York University. Professor Das is also a certified cost and works accountant (AICWA) from the Institute of Cost and Works Accountants of India. He also holds a Masters degree in Computer Science from the University of California, Berkeley.
Professor Das' research covers a range of areas including asset pricing theory, credit risk, international portfolio choice, option pricing, computational finance, venture capital, behavioral finance, the role of the internet in finance, and mutual fund regulation and performance. In addition to his role as Associate Editor of the Journal of Investment Management, he is an Associate Editor of the Financial Analysts Journal, Journal of Risk, Journal of Financial Services Research, Review of Derivatives Research, The International Journal of Theoretical and Applied Finance, and Management Science. He serves on the research review board for the AIMR.
Professor Das has published over 30 articles in journals such as the Review of Financial Studies, Management Science, Journal of Financial and Quantitative Analysis, Journal of Banking and Finance, Review of Economics and Statistics, etc. His teaching interests revolve around the capital markets and financial engineering. He is married to Priya Raghubir, a professor of Marketing at UC Berkeley. They have one son, Shikhar who is eleven years old. Sanjiv loves animals, places in the world where the mountains meet the sea, riding sport motorbikes, reading, gadgets, and writing cool software code.
Darrell Duffie
Darrell Duffie is the Dean Witter Distinguished Professor of Finance at Stanford University. Duffie, the author of books and journal articles on asset pricing and credit risk, has been a member of Stanford's faculty since 1984. He is a recent IAFE-Sunguard Financial Engineer of the Year, and is a fellow of the Econometric Society and of the American Academy of Arts and Sciences. Duffie is the president-elect of the American Finance Association.
Kenneth Emery
Mr. Emery is a Senior Vice President and the Director of Corporate Default Research in the Credit Policy Group at Moody’s Investors Service.
Prior to joining Moody’s in March 2003, Mr. Emery was Director of Research at DB Capital Partners, Deutsche Bank’s private equity arm, and prior to that, Director of Research for Corporate Finance Strategy at Deutsche Bank Securities.
Before joining Deutsche Bank, Mr. Emery worked as a Senior Vice President of Corporate Risk and Strategy at Associates First Capital and was a Senior Economist and Policy Advisor to the President of the Federal Reserve Bank of Dallas.
Mr. Emery holds a BA from Colby College, a M.Sc. from the London School of Economics and a Ph.D. in Economics from the University of California at Los Angeles. Mr. Emery is also a Chartered Financial Analyst (CFA).
Stephen Figlewski
Stephen Figlewski is a Professor of Finance at the New York University Leonard N. Stern School of Business, where he has been since 1976. He holds a B.A. in Economics from Princeton University and a Ph.D in Economics from the Massachusetts Institute of Technology. He has published extensively in academic journals, especially in the area of financial futures and options. He is the founding Editor of The Journal of Derivatives and an Associate Editor for several other journals. He also edits the Financial Economics Network's two "Derivatives" series published over the Internet. He is the director of the NASDAQ Derivatives Research Project, which is a research initiative at the Stern School that supports applied and theoretical research on derivatives and promotes intellectual interchange between academics and practitioners in derivatives, risk management, and financial engineering.
Professor Figlewski has also spent time on Wall Street. He recently returned to NYU after a leave of absence spent working on margin setting for credit-sensitive securities at Citigroup. Previously, he has been a Vice President at the First Boston Corporation, in charge of research on equity derivative products, and was at one time a member of the New York Futures Exchange and a Competitive Options Trader at the New York Stock Exchange.
Jean Helwege
Prior to joining Penn State University in 2006, Professor Helwege taught at the University of Arizona and Ohio State University. She also worked as an economist in the Federal Reserve System for ten years, at both the New York Fed and the Board in Washington. Professor Helwege has a Ph.D. in economics from U.C.L.A. and a B.A. in linguistics from the University of Chicago. Her research interests include corporate bonds, IPOs and financial distress and has been published in the Journal of Finance, the Review of Financial Studies and the Journal of Financial Economics. Since 2005, Professor Helwege has served as Associate Editor of the Review of Financial Studies.
Edith Hotchkiss
Edith Hotchkiss is Associate Professor of Finance at Boston College. Professor Hotchkiss received her PhD at New York University, Leonard N. Stern School of Business and her BA at Dartmouth College.
Previously, she has worked for New York University as a Visiting Assistant Professor of Finance and at Standard & Poor's Corporation as an Assistant Vice President. She is a member of academic advisory board and board of directors of the Turnaround Management Association.
Her research focuses mainly on corporate finance, more specifically, the efficiency of Chapter 11 bankruptcy procedures; restructuring mechanisms for financially distressed firms; transparency and efficiency of the corporate bond market.
Her teaching interests focus on corporate finance: valuation and corporate restructuring. Some publications include: "Post-Bankruptcy Performance and Management Turnover," Journal of Finance, vol. 50, 1995, pp. 3-22; "Vulture Investors & the Market for Control of Distressed Firms" (with Robert C. Mooradian) Journal of Financial Economics, vol.43, 1997, pp. 401-432. Abstract reprinted in Contemporary Finance Digest, vol.2, Spring 1998;"Acquisitions as a Means of Restructuring Firms in Chapter 11" (with Robert C. Mooradian) Journal of Financial Intermediation, vol. 7, Fall 1998;"Valuation of Bankrupt Firms" (with Stuart Gilson and Richard Ruback), Review of Financial Studies, 2000; "The Informational Efficiency of the Corporate Bond Market: An Intraday Analysis" (with Tavy Ronen), Review of Financial Studies, 2002.
John C. Hull
John Hull is the Maple Financial Group Professor of Derivatives and Risk Management in the Joseph L. Rotman School of Management at the University of Toronto. He is an internationally recognized authority on derivatives and has many publications in that area. Recently his research has been concerned with credit risk, executive stock options, volatility surfaces, market risk, and interest rate derivatives. He was, with Alan White, one of the winners of the Nikko-LOR research competition for his work on the Hull-White interest rate model. He has acted as consultant to many North American, Japanese, and European financial institutions.
He has written three books “Risk Management and Financial Institutions” (new this year), "Options, Futures, and Other Derivatives" (now in its sixth edition) and "Fundamentals of Futures and Options Markets" (now in its fifth edition). The books have been translated into many languages and are widely used in trading rooms throughout the world. He has won many teaching awards, including University of Toronto's prestigious Northrop Frye award, and was voted Financial Engineer of the Year in 1999 by the International Association of Financial Engineers.
In addition to the University of Toronto, Dr. Hull has taught at York University, University of British Columbia, New York University, Cranfield University, and London Business School. Earlier in his career he worked as a corporate planning analyst with British Shoe Corporation. He is an Associate Editor of eight academic journals.
David Lando
David Lando is professor of finance at The Copenhagen Business School's Department of Finance. He holds a Masters degree from the joint mathematics-economics program at the University of Copenhagen and a Ph.D. in statistics from Cornell University. His main area of research in finance is credit risk modelling and risk management. He has been a visiting scholar at the Federal Reserve Board in Washington and The Federal Reserve Bank of New York, a visiting research scientist at Princeton University and he is a member of Moody's Academic and Advisory Research Committee. He is on the editorial board of four international finance journals. Before joining the Copenhagen Business School, he was a professor at the Department of Applied Mathematics and Statistics at the University of Copenhagen.
Francis Longstaff
Francis Longstaff is Allstate Professor of Insurance and Finance, Area Chair at UCLA Anderson School of Management. He is a Certified Public Accountant (CPA) and a Chartered Financial Analyst (CFA). From 1995 to 1998, Professor Longstaff was head of Fixed Income Derivative Research at Salomon Brothers Inc. in New York. Professor Longstaff has also worked in the research department of the Chicago Board of Trade and for Deloitte and Touche as a management consultant.
His current research interests include the following:
1. Fixed income markets and term structure theory.
2. Derivative markets and valuation theory.
3. Credit risk.
4. Computational Finance.
5. Liquidity and its effects on prices and markets.
6. The role of arbitrage in financial markets.
Several of his recent term structure papers have focused on the expectations hypothesis. Recent papers in the area of derivatives have focused on the valuation of American options by simulation and on the valuation of interest rate derivatives in string models of the term structure. Other recent papers provide upper bounds on the size of discounts for lack of liquidity that can be sustained in financial markets and also examine the risk/return relationship for hedge funds investing in pure arbitrage opportunities when there are margin constraints. He has published nearly 40 articles in academic and practitioner journals.
Many of his valuation models have been used widely on Wall Street and throughout the global financial markets. He has extensive experience as a consultant for many Wall Street firms, mutual funds, hedge funds, commercial banks and other financial institutions, software developers and risk management firms, as well as in litigation support. He is a frequent speaker at practitioner seminars and conferences.
Douglas J. Lucas
Douglas Lucas is a Director at UBS and head of CDO Research. He is responsible for the monthly CDO Insight publication. Prior to joining UBS in 2001, Douglas was head of CDO research at JPMorgan. Before that, he was co-CEO of Salomon Swapco for six years and had credit control positions with two boutique swap dealers. He has been ranked third and runner up in the Institutional Investors fixed income analyst survey.
Douglas was at Moody’s Investors Service from 1987 to 1993 where he wrote the rating agency’s first default and rating transition studies. He also quantified the expected loss rating approach and developed Moody’s rating methodologies for collateralized debt obligations and triple-A special purpose derivatives dealers. He is known for doing some of the first quantitative work in default correlation. Douglas has a BA magna cum laude in Economics from UCLA and an MBA with Honors from the University of Chicago.
Mitchell A. Petersen
Mitchell Petersen is the Glen E. Vasal Associate Professor of Finance at the Kellogg Graduate
School of Management. He has been at Kellogg since 1994.
Professor Petersen research focuses on the empirical role of market frictions in influencing the capital budgeting and capital structure decisions made by firms. His research has explored the way in which small firms finance themselves as well as the role of lending relationships in easing small firm’s access to capital. More recently he is examined the changes in these market wrought by information technology. His research has also examined how risk management creates value for publicly traded firms.
Professor Petersen's articles have appeared in the Quarterly Journal of Economics, the Journal of Finance, the Journal of Financial Economics, and the Review of Financial Studies. In 1994, he was awarded the Smith Breeden Prize for outstanding paper in the Journal of Finance and the Michael Brennan Award for Best Paper in the Review of Financial Studies in 1998. Professor Petersen is currently an editor of the Journal of Financial Intermediation and is a member of the American Finance Association and the American Economic Association.
Professor Petersen teaches corporate finance, valuation of investment projects (using both DCF and real options approaches), and taxation at Kellogg where he won the Professor of the Year award in 2000 and the Sidney J. Levy Teaching Award in 1996, 1999, 2001, and 2003.
AB 1986, Economics, Princeton University; Ph.D. 1990, Economics, Massachusetts Institute of
Technology.
Raghuram G. Rajan
Raghuram G. Rajan served as Chief Economist at the International Monetary Fund between 2003 and 2006. His major research focus is on economic growth, and the role finance plays in it. Rajan believes there is no issue with greater urgency or moral imperative than economic development. As for his students, he hopes they walk away with "a greater awareness of the world they live in. And in a small way," he says, "I want to help them reflect on how they can make it better."
He has been a visiting professor at the Kellogg School of Management at Northwestern University, the Massachusetts Institute of Technology Economics Department and Sloan School of Management, as well as the Stockholm School of Economics. He also has worked as a consultant for the Indian Finance Ministry, World Bank, Federal Reserve Board, Swedish Parliamentary Commission, and various financial institutions. His practical experience gives him a better understanding of what is economically important and what is not.
Rajan is the author, along with fellow GSB faculty member Luigi Zingales, of the book, Saving Capitalism from the Capitalists. Reearch papers he has authored include: "Foreign Capital and Economic Growth" published in 2006 in the Proceedings of the Jackson Hole Conference organized by the Kansas City Fed; "Does Aid Affect Governance?" written with Arvind Subramanian that will appear in the American Economic Review; "Modernizing China's Growth Paradigm" written with Eswar Prasad and published in May 2006 in the American Economic Review; "Entry Regulation as a Barrier to Entrepreneurship" written with Leora Klapper and Luc Laeven and published in 2006 in the Journal of Financial Economics.
Rajan's work has earned him a number of awards. He received the inaugural Fischer Black Prize in 2003, which is awarded by the American Finance Association for the person under 40 who has contributed the most to the theory and practice of finance.
After getting a bachelor's degree from the Indian Institute of Technology in Delhi in 1985 and an MBA from the Indian Institute of Management in 1987, Rajan moved to the United States where he earned a PhD from the Massachusetts Institute of Technology with a thesis entitled "Essays on Banking." He joined the GSB faculty in 1991.
Outside of the classroom, Rajan enjoys squash, tennis, cricket, cooking, reading, and traveling.
Stephen Schaefer
Stephen Schaefer is Professor of Finance at London Business School. Formerly on the faculty of the Graduate School of Business at Stanford University, he has also been a visiting professor at the Universities of British Columbia, California (Berkeley), Cape Town Chicago and Venice. He has published widely on fixed income markets, risk management, credit risk and financial regulation. At London Business School he has been at various times Research Dean, Chairman of the finance area, Director of the Institute of Finance and Accounting and a member of the School's Governing Body. Outside academic life, Stephen Schaefer is a Senior Research Advisor to Moody's KMV, a member of Moodys Academic Research and Advisory Committee and a Non-Executive Director of Leo Fund Management. He was formerly an Independent Board Member of the Securities and Futures Authority and a Trustee-Director of Smith Breeden Mutual Funds.
Til Schuermann
Til Schuermann is an Assistant Vice President at the Federal Reserve Bank of New York’s Research Group and Head of its Financial Intermediation department. He focuses on risk measurement and management in financial institutions and capital markets. Recent topics include integrated risk management, hedge funds and systemic risk, and credit risk diversification. He is also a Sloan Research Fellow at the Wharton Financial Institution Center and teaches at Columbia University and at the Wharton School. Prior to joining the New York Fed in May of 2001 he spent five years at the management consulting firm Oliver, Wyman & Company, where he was a Director and Head of Research. Til spent 1993 to 1996 at Bell Laboratories working on techniques from statistics and artificial intelligence to build models for bad debt prediction as well as developing risk-based management decision support tools. Til has numerous publications and is an associate editor at the Journal of Financial Services Research and the Journal of Risk.
Kenneth J. Singleton
Kenneth Singleton is the Adams Distinguished Professor of Finance, and a Senior Associate Dean for Academic Affairs, at the Graduate School of Business, Stanford University.
He previously taught in the Economics Department at the University of Virginia and the Graduate School of Industrial Administration at Carnegie Mellon, and held short-term visiting positions at the University of Chicago and University of Tokyo. While on leave from Stanford, in 1991-92, he was a vice president in the Fixed Income Research Department of Goldman Sachs and Co.
His research interests are in econometric methods for estimation and testing of dynamic asset pricing models; modeling of term structures of government and defaultable bond yields; measuring and managing market, credit and liquidity risks; and debt financing in emerging economies. His papers have appeared in the leading journals in finance and economics, he is co-author of the book Credit Risk, and author of the book Empirical Dynamic Asset Pricing Models.
Singleton is a fellow of the Econometric Society and the Journal of Econometrics, and is a Research Associate of the NBER. He is the recipient of the Frisch Prize from the Econometric Society and two Smith-Breeden Distinguished Paper Awards from the Journal of Finance. He was an Editor of the Review of Financial Studies and an Associate Editor of the Econometrica, the Journal of Econometrics, and the Journal of Finance, is a past president of the Western Finance Association and has served on the Board of Directors of the American Finance Association.
Singleton received his bachelor's degree from Reed College, and his master's degree and doctorate in economics from the University of Wisconsin.
Amir Sufi
Amir Sufi is Assistant Professor at The University of Chicago Graduate School of Business. Sufi studies the broad area of corporate finance and financial intermediation. More specifically, his current research examines the role of banks in the corporate finance decisions of U.S. publicly traded corporations, with a focus on syndicated loans, revolving credit facilities, second liens, corporate liquidity, corporate investment, and the implications of bank covenants.
His research has won numerous prizes, including the inaugural Young Researcher Prize from the Review of Financial Studies and the NASDAQ Award for the best paper on capital formation at the Western Finance Association. Sufi has articles in the Journal of Finance and forthcoming in the Review of Financial Studies. As a PhD student at MIT, he was awarded the Robert M. Solow Endowment Prize for Graduate Student Excellence in Teaching and Research.
Sufi graduated Phi Beta Kappa from the Walsh School of Foreign Service at Georgetown University with a bachelor's degree in economics magna cum laude in 1999. He earned a PhD in economics from the Massachusetts Institute of Technology in 2005. His dissertation was titled "The Role of Banks in Corporate Finance." He joined the GSB faculty in 2005.
Outside of academics, Sufi enjoys traveling, running, and spending time with his family. He is an avid sports fan. A Kansas native, he closely follows Jayhawk and Hoya basketball.
Vikrant Vig
Vikrant Vig is Assistant Professor of Finance at London Business School since July 2007. He received his PhD from Columbia Business School and holds a MS in Engineering and Finance from University of Illinois at Urbana-Champaign. His research interests lie in the area of financial contracting and include: financial intermediation, firm’s choice of optimal debt structure, corporate governance, and law and finance. He was most recently a visiting scholar at the Reserve Bank of India and was awarded a CIBER (Center for International Business Education and Research) grant for his research on the role of legal institutions in emerging markets. His current research focuses on the sub-prime mortgage market in the United States where he investigates how securitization affects the incentives of different market participants.
Alan D. White
Alan White, Professor of Finance, is the Peter L. Mitchelson/SIT Foundation Chair in Investment Strategy. Professor White is best known for his work with fellow Rotman Professor John Hull with whom he developed the Hull-White Interest Rate Model, a model which is widely used by financial engineers in trading rooms around the world to value nonstandard interest rate derivatives.
Professor White's current research is predominantly in two areas: the valuation of executive stock options, and the analysis of credit risk. He is a member of the Moody's academic advisory panel. The purpose of this panel is to allow practitioners within Moody's, who have access to the world's largest relevant data-sets, to exchange ideas with some of the leading academic researchers in the field. Professor White has taken advantage of his access to this research and data on credit to examine the predictive powers of credit spreads. Professor White also conducts research on the valuation of executive stock options and has developed a practical method of valuing complex executive stock options. Much of there research in this area was conducted in consultation with the Ontario Teachers' Pension Plan.
Prof. White has made numerous contributions to the academic community publishing in both academic and practitioner journals. At the Rotman School he has taught at the graduate level and served as the supervisor of the Finance Ph.D. program.
