Alexey Zhdanov
Professor of Finance
Alexey Zhdanov is a Professor of Finance at Penn State University, Smeal College of Business. He holds a Ph.D. in finance from the University of Rochester. He previously held faculty positions at the Swiss Finance Institute, University of Lausanne, and George Mason University.
Expertise
Real Options, Corporate Finance, Empirical Asset Pricing
Education
Ph D in Finance, The University of Rochester, Simon School of Business, Rochester, NY, 2006-03-01 MS in Business Administration, The University of Rochester, Simon School of Business, Rochester, NY, 2003-06-01 MBA in Management, Vlerick Business School, Ghent, Belgium, 1997-10-01 BS in Systems Engineering, Saint Petersburg State Technical University, School of Engineering, Saint Petersburg, Russia, 1996-06-01
Courses Taught
FIN 305W – Financial Management of the Business Enterprise (W)
Development of advanced practices of financial management and their application to decision making in a business firm.
FIN 305W – Financial Mgmt Bus (W)
Development of advanced practices of financial management and their application to decision making in a business firm.
FIN 410 – Derivative Markets
Functions, techniques, and impact of speculation conducted through forward markets; the nature of speculative transactions, pricing, and methods of trading.
FIN 597 – Special Topics
FIN 601 – Ph D Dis Full-Time
NO DESCRIPTION.
Selected Publications
Zhdanov A., Eisdorfer A., Goyal A. "Cheap Options are Expensive" Review of Asset Pricing Studies, 2025-08-01
Zhdanov A., Morellec E., Eisdorfer A. "Takeover Protections and Asset Prices" Management Science, 2024-11-01
Zhdanov A., Phillips G. "Venture Capital Investments, Merger Activity, and Competition Laws around the World" Review of Corporate Finance Studies, 2023-01-01
Zhdanov A., Matveyev E. "Optimal Capital Structure with Imperfect Competition" Review of Corporate Finance Studies, vol. 11, 2022-05-01
Zhdanov A., Eisdorfer A., Sadka R. "Maturity Driven Mispricing of Options" Journal of Financial and Quantitative Analysis, 2022-03-01
Zhdanov A., Matveyev E., Lyandres E. "Does the Market Correctly Value Investment Options?" Review of Finance, vol. 24, 2020-11-01
Zhdanov A., Eisdorfer A., Goyal A. "Equity Misvaluation and Default Options" Journal of Finance, 2019-12-01
Zhdanov A., Morellec E. "Product Market Competition and Option Prices" Review of Financial Studies, vol. 32, 2019-11-01
Zhdanov A., Eisdorfer A., Goyal A. "Distress Anomaly and Shareholder Risk: International Evidence" Financial Management, 2017-11-01
Zhdanov A., Morellec E., Valta P. "Financing investment: The choice between bonds and bank loans" Management Science, vol. 61, 2015-11-01
Zhdanov A., Lyandres E. "Convertible debt and investment timing" Journal of Corporate Finance, vol. 24, 2014-09-01
Zhdanov A., Lyandres E. "Investment opportunities and bankruptcy prediction" Journal of Financial Markets, 2014-06-01
Zhdanov A., Phillips G. "R&D and the Incentives from Merger and Acquisition Activity" Review of Financial Studies, vol. 26, 2013-03-01
Zhdanov A., Lyandres E., Grullon G. "Real Options, Volatility, and Stock Returns" Journal of Finance, vol. 67, 2012-08-01
Zhdanov A., Lyandres E., Bernile G. "A Theory of Strategic Mergers" Review of Finance, vol. 16, 2012-06-01
Zhdanov A., Lyandres E., Hsieh J. "A Theory of Merger-Driven IPOs" Journal of Financial and Quantitative Analysis, vol. 46, 2011-10-01
Zhdanov A., Lyandres E. "Accelerated investment effect of risky debt" Journal of Banking & Finance, vol. 34, 2010-03-01
Zhdanov A., Joos P. "Earnings and Equity Valuation in the Biotech Industry: Theory and Evidence" Financial Management, vol. 37, 2008-10-01
Zhdanov A., Morellec E. "Financing and takeovers" Journal of Financial Economics, vol. 87, 2008-02-14
Zhdanov A. "Competitive Equilibrium with Debt" Journal of Financial and Quantitative Analysis, vol. 42, 2007-09-01
Zhdanov A., Morellec E. "The Dynamics of Mergers and Acquisitions" Journal of Financial Economics, vol. 77, 2005-06-23