Photo of Nikolai Roussanov

Nikolai Roussanov

Associate Professor of Finance

Research Interests: asset pricing, econometrics., household finance, macroeconomics

Links: Personal Website, CV

Contact Information

Address: 2326 Steinberg-Dietrich Hall, 3620 Locust Walk, Philadelphia, PA 19104
Email: nroussan@wharton.upenn.edu
Office: (215) 746-0004

Overview

Education

PhD, University of Chicago, 2008; AB, Harvard University, 2001

Academic Positions Held

Wharton: 2007-present

Other Positions

National Bureau of Economic Research, Faculty Research Fellow 2010-present

Research


Awards And Honors

  • Terker Family Prize in Investment Reseach, 2010

In The News

Courses

Current

  • FNCE239 - Behavioral Finance

    There is an abundance of evidence suggesting that the standard economic paradigm - rational agents in an efficient market - does not adequately describe behavior in financial markets. In this course, we will survey the evidence and use psychology to guide alternative theories of financial markets. Along the way, we will address the standard argument that smart, profit-seeing agents can correct any distortions caused by irrational investors. Further, we will examine more closely the preferences and trading decisions of individual investors. We will argue that their systematic biases can aggregate into observed market inefficiencies. The second half of the course extends the analysis to corporate decision making. We then explore the evidence for both views in the context of capital structure, investment, dividend, and merger decisions.

    FNCE239001  ( Syllabus

  • FNCE739 - Behavioral Finance

    There is an abundance of evidence suggesting that the standard economic paradigm - rational agents in an efficient market - does not adequately describe behavior in financial markets. In this course, we will survey the evidence and use psychology to guide alternative theories of financial markets. Along the way, we will address the standard argument that smart, profit-seeing agents can correct any distortions caused by irrational investors. Further, we will examine more closely the preferences and trading decisions of individual investors. We will argue that their systematic biases can aggregate into observed market inefficiencies. The second half of the course extends the analysis to corporate decision making. We then explore the evidence for both views in the context of capital structure, investment, dividend, and merger decisions.

    FNCE739001  ( Syllabus

    FNCE739002  ( Syllabus

Previous

  • FNCE235 - Fixed Income Securities

    FNCE 235 is a rigorous study of fixed income securities, including default-free bonds, floating rate notes, and corporate bonds. Closely related financial instruments such as forwards and futures on fixed income securities, bond options, and interest rate swaps are also examined. In addition to analyzing specific types of fixed income securities, there will be an examination of the tools used in bond portfolio management.

  • FNCE725 - Fixed Income Securities

    FNCE 725 is a rigorous study of fixed income securities, including default-free bonds, floating rate notes, and corporate bonds. Closely related financial instruments such as forwards and futures on fixed income securities, bond options, and interest rate swaps are also examined. In addition to analyzing specific types of fixed income securities, there will be an examination of the tools used in bond portfolio management.