
Alexander Gorbenko
Bio
Alexander Gorbenko is a Professor of Economics and Finance at UCL. He 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 M&A, differences in valuing companies by potential strategic and financial (PE) 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 and the Masters in Management Best Teacher Award at the London Business School. His research has also been featured in media, including Bloomberg and Private Equity Findings.
Research
Auctions with Endogenous Initiation
Alexander Gorbenko and Andrey Malenko
The Journal of Finance (2024) 79(2): 1353–1403
Conceptual Framework and Theory of M&A
Alex Gorbenko
Handbook of the Economics of Mergers and Acquisitions (2025), Edward Elgar
Venture Capital Contracts
Michael Ewens, Alexander Gorbenko and Arthur Korteweg
The Journal of Financial Economics (2022), 143(1), pp.131-158
How Do Valuations Impact Outcomes of Asset Sales with Heterogeneous Bidders?
Alexander Gorbenko
The Journal of Financial Economics (2019), 131(1), pp.88-117
The Timing and Method of Payment in Mergers when Acquirers are Financially Constrained
Alexander Gorbenko and Andrey Malenko
The Review of Financial Studies (2018), 31(10), pp.3937-3978
Strategic and Financial Bidders in Takeover Auctions
Alexander Gorbenko and Andrey Malenko
The Journal of Finance (2014), 69(6), pp.2513-2555
CDS Auctions
Mikhail Chernov, Alexander Gorbenko and Igor Makarov
The Review of Financial Studies (2013), 26(3), pp.768-805
Competition among Sellers in Securities Auctions
Alexander Gorbenko and Andrey Malenko
American Economic Review (2011), 101(5), pp.1806-1841
Temporary vs Permanent Shocks: Explaining Corporate Financial Policies
Alexander Gorbenko and Ilya A. Strebulaev
The Review of Financial Studies (2010), 23(7), pp.2591-2647