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Education :
1994-1996, 1998-2001 Gothenburg University, Gothenburg School of Economics and Commercial Law (Sweden), Department of Economics.

Ph.D., Financial Economics.

1997 University of Pennsylvania, Wharton Business School, Finance Department.

Visiting Doctoral Fellow.

1988-1993 Rostov State University (Russia), Department of Economics.

M.A., Economics and Mathematics
B.A., Economics and Mathematics

Working Experience :
1996-present Gothenburg School of Economics and Commercial Law (Sweden), Department of Economics.

Teaching:
“Transition Economics” / doctoral-level (2002); “International Financial Management” / graduate-level (2002); “Financial Institutions Management” / graduate-level (1998-2001); “Corporate Finance” / undergraduate-level (1998);

Supervisor of the undergraduate and master thesis in Finance
(1999-2002);2000 SIDA (Swedish International Development Agency).

Consultant in Lusaka, Zambia (May, 2000) / Consultancy Report (with Anders Isaksson) “Zambia 2000: Macroeconomic Instability and the Prospects for Enterprise Financing in Zambia”.

2000-2001 Skovde University College (Sweden), Guest lecturer

“Financial Institutions Management” / undergraduate-level (2001);
“Investments” / undergraduate-level (2000).

Research Papers:
“Capital Structures in Emerging Stock Market: the Case of Hungary“, The Developing Economies Volume 40, Number 2 (June 2002).

“Market Discipline of Subordinated Debt in Banking: the Case of Costly Bankruptcy”, forthcoming in the European Journal of Operational Research.

“Subordinated Debt and Equity: Complements or Substitutes?” Social Science Research Network (SSRN) European Finance Association 2002 (EFA2002) Discussion Papers Journal, Vol. 1, No. 3: June 25, 2002.

“Essays on Capital Structure”, Ph.D. Thesis No.108, Department of Economics, Gothenburg University, November 2001 (ISBN 91-88514-67-6).

“An Analysis of Subordinated Debt in Banking: the Case of Costly Bankruptcy” , Working Paper in Economics No 44, Gothenburg University, 2001 (ISSN 1403-2473).

“The Dynamics of Capital Structure in Transition Economies”, CERGU’s Project Report Series No 00:5, June 2000, Center for European Research, Gothenburg University, Sweden (ISSN 1404-238X).

“Econometric Analysis of Duration of Registered Unemployment in the Labor Market of a Big Industrial City”, Issues in Statistics (Voprosi Statistiki) No 9, 2001, (in Russian).

“Modeling Labor Market Behavior of the Population of a Large Industrial
City: Duration of Registered Unemployment” (with L. Nivorozhkina and A. Shuhmin), Economic Education and Research Consortium Russia (EERC), Project Report Series, No 01/08, 2002, (refereed).

“The Capital Structure of Listed Companies In Poland” (with Quazar Hussain), IMF Working Paper, WP/97/175, December 1997.

“Biases in Computed Returns: an Application to the Size Effect”, Term Paper, Wharton School, 1997.

“Impact of Insiders in Russian Privatization”, Working Paper, Gothenburg University, 1996.

Academic Awards and Honors:
2000 Wihelm and Martina Lundgrens Vetenskapsfond (Science fond) Scholarship;

2000 The Royal Swedish Academy of Science Scholarship;

1998-2000 The Economics Education and Research Consortium Russia
(EERC-Russia) Research Grant;

1998 SEB Simon Foundation Scholarship.

1994-1996 Adlerbertska Hospitiestiftelsen Scholarship;

1994 Swedish Institute Scholarship;