Ilya A Strebulaev

Associate Professor of Finance

Director of The Emerging CFO: Strategic Financial Leadership Program

Shanahan Family Faculty Scholar for 2013-14

Phone: (650) 725-8239

Email: istrebulaev@stanford.edu

Personal Homepage: http://faculty-gsb.stanford.edu/strebulaev/

Academic Areas: Finance

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 Associate 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 (Finance), London Business School, 2004; M.A., New Economic School, 1999; B.Sc., Lomonosov Moscow State Univ., 1997.

Professional Experience

At Stanford since 2004.

Selected Publications

  • The Mystery of Zero-Leverage Firms: Journal of Financial Economics with Baozhong Yang, forthcoming
  • Dynamic Models and Structural Estimation in Corporate Finance: Foundations and Trends in Finance with Toni M. Whited, forthcoming
  • Cash Holdings and Credit Risk: Review of Financial Studies with Viral Acharya and Sergei Davydenko, forthcoming
  • A Market-Based Study of the Costs of Default: Review of Financial Studies with Sergei Davydenko and Xiaofei Zhao, forthcoming
  • Corporate Bond Default Risk: A 150-Year Perspective: Journal of Financial Economics with Kay Giesecke, Francis A. Longstaff, and Stephen M. Schaefer, 2011
  • The Aggregate Dynamics of Capital Structure and Macroeconomic Risk: Review of Financial Studies with Harjoat S. Bhamra and Lars-Alexander Kuhn, 2010
  • Permanent vs Temporary Shocks: Explaining Corporate Financial Policies: Review of Financial Studies with Alexander S. Gorbenko, 2010

Working Papers

  • An Empirical (S,s) Model of Capital Structure
  • Dynamic Information Asymmetry, Financing, and Investment
  • Government Policy and Ownership of Financial Assets
  • Macroeconomic Effects of Corporate Default Crises: A Long-Term Perspective

Selected Cases

  • E440: Note on Angel Financing (2012)
  • E442: Sand Hill Angels: To Fund or Not to Fund

Awards and Honors

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

Courses Taught

Centers/Programs

  • Center for Entrepreneurial Studies

Affiliations

  • Member: American Finance Assn.
  • Member: American Economic Assn.
  • Member: Western Finance Assn.
  • Member: European Finance Assn.

In The Media