W. P. Carey School of Business
W. P. Carey School of Business

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Ilona Babenko

Associate Professor

Office:BAC 540
Mailing Address:
Main Campus
PO BOX 873906
Tempe, AZ 85287-3906

Phone: 480-965-1036
Fax: 480-965-8539
Email: Ilona.Babenko@asu.edu
Ilona Babenko

View Vita

Ph.D., Haas School of Business, University of California at Berkeley, 2006; M.S. Physics, University of Minnesota, 2001; B.S. Physics, Belarus State University, 1999

Research Areas
Financial Contracting; Executive and Non-Executive Compensation; and Investment and Financing Policy, Real Options

Current Projects
"Real Investment with Financial Hedging", with Yuri Tserlukevich

"Agency Implications of Equity Market Timing", with PengCheng Wan and Yuri Tserlukevich

"Adverse Selection and Stock-Based Grants to Non-Executive Employees”

Career and Professional Awards; Teaching Awards
CERG Competitive Research Grant (HK$480,000), RPC Competitive Research Grant (HK$150,000), DAG Research Grant (HK$100,000), Best Teaching Award, 2003, (Masters of Financial engineering program), UC Berkeley
Representative Publications

“Do Non-Executives Employees Have Information? Evidence from Employee Stock Purchase Plans,” with Rik Sen, 2012, Management Science

"The Credibility of Open Market Share Repurchase Signaling," with Yuri Tserlukevich and Alexander Vedrashko, 2011, forthcoming in Journal of Financial and Quantitative Analysis.

"Employee Stock Options and Real Investment," with Michael Lemmon and Yuri Tserlukevich, 2011, Journal of Finance 66, 981-1010.

"Analyzing the Tax Benefits from Employee Stock Options," with Yuri Tserlukevich, 2009, Journal of Finance 64, 1797-1825.











ASU is a tier 1 research university and W. P. Carey is proud of its strong tradition of teaching and classroom excellence. Our students directly benefit from the research and theories our faculty brings into the classroom. Below is a list of courses being taught during the current semester by this faculty member. Click a course to view it in the ASU course catalog.

FIN 361 - Advanced Managerial Finance
Builds on FIN 302. Advanced material on capital budgeting, cost of capital, CAPM, asset valuation, capital structure, and financial policy.

FIN 782 - Theory of Finance II
Fundamentals of corporate finance, contract theory, agency problems, and game theory applications in Finance.

W. P. Carey School of Business

400 E. Lemon St.
Tempe, AZ 85287