Articles in business magazines

Private Equity Fund in Ukrainian Institutional Environment. Tsinni Papery Ukrainy 11 - 12, 2009

Analysis of practical issues, problems and solutions regarding creation of a private equity fund functioning in Uktrainian institutional environment and aiming at attracting funds of Ukrainian private investors.
[Download PDF 155 Kb (Ukrainian)]

Incentive schemes: theory versus practice. Strategies 2, 2005

Incentives: how to avoid problems using fundamental economic principles in designing incentive contracts.
[Download PDF 245 Kb (Russian)]

Venture Funds and Venture Investments: How Does It Work? Financial Director 1, 2005

Description of the key principles of PE/VC funds functioning: industry structure, participants, legal forms, venture capital cycle, relationship between entrepreneurs and investors
[Download PDF 317 Kb (Russian)]

The Price of an Opportunity: Real Options in Strategic Decisions. Strategies 5, 2004

Simple and practical, based on numerous examples, description of usage of real options approach for investment decisions.
[Download PDF 346 Kb (Russian)]

Company Valuation in Theory and in Practice. Financial Director 5, 2002

A look at business valuation using discounted cash flow technique (DCF) from the point of view of investment decisions and M&A transactions
[Download PDF 320 Kb (Russian)]

The Bond Market: Structure and Instruments. Financial Director 2, 2002

Analysis of possibilities of debt financing for Ukrainian enterprises through debt securities.
[Download PDF 220 Kb (Russian)]

Investment Decisions: from Complexity to Simplicity. Financial Director 4, 2001

Practical recommendations regarding implementation of modern investment analysis techniques into processes of capital budgeting
[Download PDF 271 Kb (Russian)]

Critics of Financial Analysis: Do Coefficients Give Useful Information about Ukrainian Enterprises? Financial Director 1, 2001

A critical llok at conventional tecniques of financial analysis with recommendations - what useful information can be delivered by standard financial statements
[Download PDF 206 Kb (Russian)]


Academic articles

Efficiency, Scale and Scope Economies in the Ukrainian Banking Sector in 1998. Emerging Markets Review, Vol. 2 Issue 3 (September), 2001

Article prepared togeter with Giovanni Urga in line of the joint project with London Business School. One interesting conclusion is evidence of market power at Ukrainian banking market
[Download PDF 110 Kb]

Stochastic Quasi-Gradient Techniques in VaR-based ALM Models. Theory of Stochastic Processes, Vol. 7, no. 1-2, 2001

Paper prepared specially for the International school on mathematical methods in economics in Vasteros (Sweden). The paper is devoted to practical techniqes of using stochastic quasi-gradient methods for VAR-based models of portfolio management. Management of teh portfolio of interbank loans is used as a practical example
[Download PDF 118 Kb]

Does Currency Premium Exist at Ukrainian Financial Market? The Bulletin of Kiev National Taras Shevchenko University, Series in Economics, #46, 2001

Do investors receive a premium when investing in local currency? This paper says that there is no extra return i local currecy when investment is relatively long-term.
[Download PDF 279 Kb (Ukrainian)]

Debt Financing of Ukrainian Enterprises: Theory vs. Reality. The Bulletin of Kiev National Taras Shevchenko University, Series in Economics, #45, 2000

Research on sources of finance for Ukrainian enterprises. Underdevelopment of financial markets and institutions creates constraints for debt financing
[Download PDF 250 Kb (Ukrainian)]

Efficiency of Ukrainian Banking System. Bankivska Sprava (Banking), N 6, 1999

Ukrainian versian of banking efficiency study published in Bankivska Sprava
[Download PDF 407 Kb (Ukrainian)]

Risk Hedging with Ukrainian Interbank Currency Exchange Futures. Finansovyie Riski (Financial Risks), N 1. 1998

The first attempt to organize currency futures market in Ukraine was performed in 1997. The paper analyses practical techniques of risk hedging using currency futures.
[Download PDF 235 Kb (Russian)]

Modern Techniques of Bond Portfolio Management: Analysis of Efficiency and Possibilities of Practical Uses. Bankivska Sprava (Banking), N 5, 1996

The paper is about practical usage of well known techniques of bond portfolio management in Ukrainian environment. [Download]

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