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Washington University in St. Louis News & Information > Faculty Experts at Washington University in St. Louis >

Assistant Professor of Finance
Expertise: corporate finance, corporate governance, international finance, behavioral corporate finance, mergers and acquisitions
Bio: Lubomir Litov's areas of expertise include corporate finance, corporate governance, international corporate finance, and behavioral corporate finance. His current research focuses on the impact of managerial agency costs on corporate investment and financing policy decisions. He also has studied the causes of market manipulation, the performance evaluation of mutual fund managers, and the impact of bondholder vs. equity-holder conflicts on the nature of corporate mergers and acquisitions.
WUSTL Contact Information:
Education:
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Ph.D. in Financial Economics at New York University
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M.Ph. in Financial Economics at New York University
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B.Sc. in International Business at University of National and World Economy

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WUSTL business professors available for comment as backdating scandal grows
 Options backdating is part of a tradition of boosting executive pay by bending the rules.

Sept. 7,
2006 --
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| Managers can find way to increase their compensation. |
Now that the U.S. Senate Finance Committee has returned from its summer holiday, members have put the recent spate of backdating stock options at the top of the agenda. Over the summer, several companies have been caught up in the practice, which skims the top off a firm's profits. According to professors at the Olin School of Business, the backdating of options is just one of the ways to time executive compensation in a way that enable executives to maximize their own pay. More...

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Long-term managers know how to stay safe in their jobs
 Out of self-interest, some managers find ways to maintain the status-quo

Dec. 7,
2005 --
You hear about them often in the news — longtime managers who survive corporate mergers with a golden parachute and a backpack full of fabulous perks. They must have done a great job in helping the company grow, right? Not necessarily, according to research done by a professor at the Olin School of Business at Washington University in St. Louis. In a series of studies Litov conducted, he found that, longtime, or entrenched, managers tend to avoid risky investments and projects, which results in saddling their firms with higher debt levels and slowing the firm's growth.

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