Alexander Gorbenko picture

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