UCL School of Management

Alex Gorbenko



Alexander Gorbenko is an Associate Professor of Economics and Finance at the School of Management and the Department of Economics, University College London. He previously was an Assistant Professor of Finance at London Business School (2010-2014) and an Assistant Professor of Finance and Business Economics at Marshall School of Business, University of Southern California (2014-2020). He holds degrees from Moscow Institute of Physics and Technology (M.Sc., Applied Math and Physics, 2004), New Economic School, Moscow (M.A., Economics, 2005), and Stanford University Graduate School of Business (Ph.D., Finance, 2010).


Alexander is an expert in corporate finance, mergers and acquisitions and private equity; his recent work has also studied venture capital. The main focus across these markets is on negotiation and structuring of asset sales and financings of companies. Alexander’s recent research has examined optimal timing and design of mergers and acquisitions, differences in valuing companies by potential strategic and financial (private equity) acquirers, and deal selection and contracting in VC. His work includes papers published in the American Economic Review, the Journal of Finance, the Review of Financial Studies, and the Journal of Financial Economics. Among other awards, Alexander has received the NASDAQ OMX Award for the best asset pricing paper by the Western Finance Association. His research has also been featured in media, including Bloomberg and Private Equity Findings.

Personal webpage


A. S. Gorbenko, A. Malenko (2022) - Auctions with Endogenous Initiation. Forthcoming at the Journal of Finance. 

M. Ewens, A. S. Gorbenko, A. Korteweg (2022) - Venture Capital Contracts. The Journal of Financial Economics (2022) 143(1) 131-158. 

  • Awards: Outstanding Paper Award, Midwest Finance Association (Chicago), 2019. 

A. S. Gorbenko (2019) - How Do Valuations Impact Outcomes of Asset Sales with Heterogeneous Bidders?, The Journal of Financial Economics (2019) 131(1): 88-117. 

A. S. Gorbenko, A. Malenko (2018) - The Timing and Method of Payment in Mergers when Acquirers are Financially Constrained. The Review of Financial Studies (2018) 31(10): 3937-3978. 

A. S. Gorbenko, A. Malenko (2014) - Strategic and Financial Bidders in Takeover Auctions. The Journal of Finance (2014) 69(6): 2513-2555. 

M. Chernov, A. S. Gorbenko, I. Makarov (2013) - CDS Auctions. The Review of Financial Studies (2013) 26(3): 768-805. 

  • Awards: NASDAQ OMX Award for the Best Paper on Asset Pricing, Western Finance Association (Las Vegas), 2012. 

A. S. Gorbenko, A. Malenko (2011) - Competition among Sellers in Securities Auctions. The American Economic Review (2011) 101(5): 1806-1841. 

A. S. Gorbenko, I. A. Strebulaev (2010) - Temporary vs Permanent Shocks: Explaining Corporate Financial Policies. The Review of Financial Studies (2010) 23(7): 2591-2647. 

  • Awards: Lead Article; The Best Paper Award, 13th Mitsui Symposium on Finance (University of Michigan), 2007.