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Ilya A. Strebulaev

Ilya   A. Strebulaev
Professor, Finance
IlyaA.Strebulaev
Professor of Finance
Director of The Emerging CFO: Strategic Financial Leadership Executive Program
Dhirubhai Ambani Faculty Fellow in Entrepreneurship for 2014-2015
Academic Area: 
Finance

Research Statement

Professor Strebulaev's research is in the area of corporate finance, financial decision-making, venture capital, and credit risk. Recent work has examined issues of dynamic capital structure, strategic financial decision-making, and empirical estimation of firms' financing decisions.

Bio

Ilya Strebulaev is a tenured Professor of Finance at the Graduate School of Business, Stanford University, and a Research Associate at the National Bureau of Economic Research. He graduated from the London Business School with a doctorate in Finance in 2004. He also holds degrees from Lomonosov Moscow State University (B.Sc. Economics) and the New Economic School, Moscow (M.A. Economics).

Ilya is an expert in corporate finance and credit risk. His work includes papers published in the Journal of Finance, the Review of  Financial Studies, and the Journal of Financial Economics.Ilya has been awarded the First Paper Prize of the Brattle Award for the best corporate paper published in the Journal of Finance, the Fama-DFA Prize for the best asset pricing paper published in the Journal of Financial Economics, and the  Trefftzs Award by the Western Finance Association. He teaches at the MBA, PhD, and executive education programs, and has been awarded the MBA Distinguished Teaching Award at Stanford GSB as well as the inaugural Masters in Management Best Teacher Award at the London Business School.

His most recent work has examined issues of dynamic capital structure, strategic financial decision-making, and empirical estimation of firms’ financing decisions. Ilya teaches the MBA angel and VC investment and decision-making course, the Sloan finance course, and the PhD advanced corporate finance course. When not teaching or doing research, Ilya enjoys reading,  travelling, hiking, listening to classical music, and collecting and appreciating fine wine and art.

Academic Degrees

  • PhD in Finance, London Business School, 2004
  • MA, New Economic School, 1999
  • BSc, Lomonosov Moscow State University, 1997

Academic Appointments

  • At Stanford University since 2004

Awards and Honors

  • Shanahan Family Faculty Scholar, Standord GSB, 2013-2014
  • First Place, Fama-DFA Prize for Best Paper, Journal of Financial Economics, 2012
  • The Masters in Management Inaugural Best Teacher Award, London Business School, 2010
  • The MBA Distinguished Teacher Award, Stanford GSB, 2009
  • First Paper Prize, Brattle Award for Best Paper, Journal of Finance, 2007
  • The Trefftzs Award for the Best Student Paper, WFA, 2004
  • Award for Best Paper, Dimitris B. Chorafas Foundation, 2004

Publications

Journal Articles

Steven Grenadier, Andrey Malenko, Ilya A. Strebulaev. Journal of Financial Economics. January 2014, Vol. 111, Issue 1, Pages 137-157.
Ilya A. Strebulaev, Baozhong Yang. Journal of Financial Economics. February 2013, Vol. 109, Issue 1, Pages 1-23.
Ilya A. Strebulaev, Toni M. Whited. Foundations and Trends in Finance. November 2012, Vol. 6, Issue 1-2, Pages 1-163.
Viral Acharya, Sergei Davydenko, Ilya A. Strebulaev. Review of Financial Studies. October 2012, Vol. 25, Issue 12, Pages 3572-3609.
Sergei Davydenko, Ilya A. Strebulaev, Xiaofei Zhao. Review of Financial Studies. 2012, Vol. 25, Issue 10, Pages 2959-2999.
Kay Giesecke, Francis A. Longstaff, Stephen M. Schaefer, Ilya A. Strebulaev. Journal of Financial Economics. 2011, Vol. 102, Issue 2, Pages 233–250.
Alexander S. Gorbenko, Ilya A. Strebulaev. Review of Financial Studies. 2010, Vol. 23, Issue 7, Pages 2591-2647.
Harjoat S. Bhamra, Lars-Alexander Kuehn, Ilya A. Strebulaev. Review of Financial Studies. 2010, Vol. 23 , Issue 12, Pages 4187-4241.

Working Papers

The Evolution of Aggregate Stock Ownership - A Unified Explanation
Kristian Rydqvist , Joshua D. Spizman, Ilya A. Strebulaev, July 2009

Courses Taught

Degree Courses

2014-15

This course covers the foundations of corporate finance including the management of liquidity, capital structure, financial forecasting, dividend policy, financial distress, cost of capital and capital budgetinig. It discusses the major financial...

This course covers all the stages of funding for early stage high-growth companies, from seed funding to venture capital rounds to a successful exit. We will concentrate on how entrepreneurs and investors make and should make important decisions...

Doctoral Practicum in Teaching

Doctoral Practicum in Research

In this course, we will investigate to what extent venture capital (in the U.S. elsewhere) fosters innovation as well as how other types of financing can drive or hinder innovation. Our discussion will be based on most recent academic and...

2013-14

This course covers the foundations of corporate finance including the management of liquidity, capital structure, financial forecasting, dividend policy, financial distress, cost of capital and capital budgetinig. It discusses the major financial...

This course covers all the stages of investment in early stage high-growth companies, from the seed funding of a novel idea to venture capital rounds to a successful exit, be it an M&A or an IPO. We will concentrate on how investors and...

This course covers some of the stages of investment in early stage high-growth companies, especially the seed funding of a novel idea to initial venture capital rounds. We will concentrate on how investors and entrepreneurs make and should make...

Stanford Case Studies

Dropbox - Series B Financing | F309
Ilya A. Strebulaev, Jaclyn Foroughi, Theresia Gouw2014
A Day in the Life of a Venture Capitalist | E444
Ilya Strebulaev, Theresia Gouw Ranzetta, David Hoyt2013
Note on Angel Financing (2012) | E440
Arar Han, Ilya A. Strebulaev2012
Sand Hill Angels, To Fund or Not to Fund | E442
Arar Han, Ilya A. Strebulaev2012
Venture Capital Deal Sourcing and Screening | E447
Ilya Strebulaev, Theresia Gouw Ranzetta, David Hoyt2012

Stanford University Affiliations

Stanford GSB

Service to the Profession

  • Member, American Finance Association
  • Member, American Economic Association
  • Member, Western Finance Association
  • Member, European Finance Association

Insights by Stanford Business

December 12, 2013
New research from Stanford suggests stricter capital regulation is needed to prevent another financial crisis.
December 9, 2013
A finance professor gives seven basic insights to better understand angel investors.
August 17, 2012
A new analysis suggests that default causes a much bigger decline in a company’s total market value than is generally assumed.
January 1, 2011
A finance professor says permissive bankruptcy laws, not bad business downturns, seem to be the greatest cause of corporate bond defaults.
December 1, 2010
A new study argues that household stock ownership decreases as the tax benefits associated with owning stocks inside a pension plan increase.
November 1, 2010
A finance professor explores the relationship between temporary shocks and CFOs' conservative approach to debt financing.

School News

June 4, 2013
Stanford GSB students honor three professors for their extraordinary teaching skill.
April 1, 2010
Roanak Desai, a member of the Class of 2010, died in a hospital in Maine April 3 after falling ill while on a trip to Africa and the Middle East.
May 1, 2009
School's MBA, PhD and master's students recognize three faculty members for their innovative teaching methods, enthusiasm and personal attention.