Lubomir P. Litov

Lubomir Litov is the David M. Moffett Professor of Corporate Finance and an associate professor in finance at the University of Oklahoma. He received his Ph.D. in Economics from Leonard Stern School of Business at the New York University. Prior to joining the Price College of Business, Dr Litov worked at the University of Arizona and the Washington University in St. Louis. He is also a research associate at the Financial Institutions Center at the Wharton School of the University of Pennsylvania. Dr Litov has published research in the Journal of Finance, Journal of Financial Economics, Journal of Accounting and Economics, Management Science, among others.

Accomplishments/Awards:

• Harold E. Hackler Outstanding MBA Professor (Full-Time Program) Award, 2022
• Best Paper Award, 26th Finance Forum, Santander Financial Institute (SANFI), Spain, 2018.
• Merrick Foundation Teaching Award, University of Oklahoma, 2018 (university-wide).
• Hurley Roberson Teaching Excellence Award, University of Oklahoma, 2017.
• Best Paper Award, Corporate Governance Symposium, University of Delaware, 2014.
• Cramer Faculty Award for Ethics, University of Arizona, 2013 (student-voted).
• Don Wells Award for Outstanding Faculty Mentor, University of Arizona, 2013 (student-voted).
• Eller “Undergraduate Faculty of the Year” Award, University of Arizona, 2012 (student-voted).
• McGuire Entrepreneurship Center Grant Award, University of Arizona, 2012.
• W. Sharpe Award for Best Paper published in Journal of Financial & Quantitative Analysis, 2011.
• McGuire Entrepreneurship Center Grant Award, University of Arizona, 2011.
• Reid Award for Excellence in Teaching, Washington University in St. Louis, 2008 (student-voted).
• Glucksman Award for Best Working Paper in Finance, New York University, 2005.
• Dean’s Commendation for Excellence in Teaching, New York University, 2004.
• Paul Willensky Fellowship, New York University, 2004.
• Benjamin Levy Fellowship, New York University, 2003.
• Derivatives Research Project/ Salomon Center Fellowship, New York University, 2002-2003.
• Leonard Stern School of Business Doctoral Fellowship, 2000-2002.
• Nuffic Fellowship, Erasmus University Rotterdam, 1996.
• Ashkenazi Fund Scholarship for Academic Excellence, 1994-1997.
• Fund for American Studies Fellowship, 1995.

Degrees Earned:

Ph.D. in Economics, Leonard Stern School of Business, New York University

“The Effect of Policy Uncertainty on Venture Capital Investments Around the World,” co-authored with Professor Summer Liu (University of Richmond) and Romora Sitorus (Indonesian Government), forthcoming, Journal of Law, Finance, and Accounting.

"Capitalizing Entrepreneurship: The Rise of Growth Equity" with Bill Megginson, Gabriele Lattanzio and Alina Munteanu, Journal of Applied Corporate Finance, 2022.

"The Rise of Dual-Class Stock IPOs” with Ofer Eldar, Yael Hochberg, and Dhruv Aggarwal, Journal of Financial Economics, forthcoming.

“Expert Advice in the Presence of Conflicts of Interest: The Case of Star-Crossed Acquisitions” with Gil Aharoni, Bryan Lim, and Jordan Neyland, Review of Accounting Studies, forthcoming.

"Actively Keeping Secrets from Creditors: The Uniform Trade Secrets Act and Financial Leverage” with Scott Guernsey and Kose John, Journal of Financial and Quantitative Analysis, forthcoming.

“Lead Independent Directors: Good Governance or Window Dressing?” with Landon Mauler and Phillip Lamoureux, Journal of Accounting Literature, 2019.

“Staggered Boards and Long-term Firm Value, Revisited” with K. J. Martijn Cremers and Simone Sepe, Journal of Financial Economics, 2017, Vol. 126: 422-444.

 “Shared Auditors in Mergers and Acquisitions” with Dan Dhaliwal, Philip Lamoreaux and Jordan Neyland, Journal of Accounting and Economics, 2016, Vol. 61: 49-76.

 “Lawyers and Fools: Lawyer-Directors in Public Corporations” with Simone Sepe and Charles Whitehead, Georgetown Law Journal, Vol. 102, 2013.

• Reprinted in the Corporate Practice Commentator.
• Reproduced in T.H. Maynard & D. M. Warren, Business Planning: Financing the Start-up Business and Venture Capital Financing (2014).

“Corporate Strategy, Analyst Coverage, and the Uniqueness Discount” with Todd Zenger and Patrick Moreton, Management Science, 2012, Vol. 58 (10): 1797-1815.

“Creditor Rights and Corporate Risk-taking” with Yakov Amihud and Viral Acharya, Journal of Financial Economics, 2011, Vol. 102: 150-166.

“Can Mutual Fund Managers Pick Stocks? Evidence from their Trades Prior to Earnings Announcements,” with Malcolm Baker, Jessica Wachter, and Jeffrey Wurgler, Journal of Financial and Quantitative Analysis, 2010, Vol. 45: 1111-1131.

• Lead Article.
• Winner of the William Sharpe award for the best paper published in JFQA in 2010.

“Managerial Entrenchment and Capital Structure: New Evidence” with Kose John, Journal of Empirical Legal Studies, 2010, Vol. 7: 693-742.

"Earnings Persistence,” with Richard Frankel, Journal of Accounting and Economics, 2009, Vol. 47: 182-190 (invited discussion of “Earnings Volatility and Earnings Predictability” by Ilia Dichev and Vicki Tang, Journal of Accounting and Economics, 2009, Vol. 47: 160-181).

“Corporate Governance and Risk-Taking” with Kose John and Bernard Yeung, Journal of Finance, 2008, Vol. 63: 1679-1728.

"Large Investors, Price Manipulation, and Market Breakdown - Anatomy of Market Corners,” with Franklin Allen and Jianping Mei, Review of Finance, 2006, Vol. 10: 645-693.

“Technological Uniqueness and Competitive Advantage” to be presented in December at the Wharton School's Mack Institute Corporate Strategy & Innovation Conference 2023. This conference is among the most prestigious outlets for research on innovation and corporate strategy.

“Big Three (Dis)Engagements,” co-authored with Shiva Rajgopal (Columbia) and Dhruv Aggarwal (Northwestern), will be presented at the University of Chicago’s Conference on Empirical Legal Studies in mid-October. The paper will also be presented at the University of Wisconsin’s “Corporate Law at a Crossroad” Conference in December.

“Corruption and Cash Policy: Evidence from a Natural Experiment” with Professor Dhruv Aggarwal (Northwestern University) on Aug. 27 at the 27th Society for Institutional and Organization Economics Conference at Goethe University-Frankfurt. The paper will be presented at the Financial Management Association (FMA) conference in mid-October.

“New Stories from Old Data? Evidence from a Novel KLD Measure of Relative Environmental Responsibility” at the Journal of Accounting, Auditing and Finance Conference, Hanken School of Economics, Helsinki, in 2023. Co-authored with Gabriele Lattanzio (University of Melbourne).

Spoke about "The Future of the Banking Sector in Cryptocurrency Economies" for BGlobal Business Magazine in 2023.

“The CEO Compensation Sustainability Goals’ Disconnect: Evidence from the Oil & Gas Industry,” with Sudheer Chava (Georgia Tech), Runzu Wang (OU) and Bing Xu (OU) at Sofia University’s Faculty of Business and Economics in 2023. 

“Technological Uniqueness and Competitive Advantage” with Todd Zenger (University of Utah), MJ Yeung (OU) and Yang Fan (Colby College) at IESE-Barcelona in 2023.

“The CEO Compensation Sustainability Goals’ Disconnect: Evidence from the Oil & Gas Industry” with Sudheer Chava (Georgia Tech), Runzu Wang (OU) and Bing Xu (OU) at the 6th ECGI Corporate Governance Conference at Erasmus University Rotterdam in 2023.

“The Use of Escrow Contracts in Acquisition Agreements” with Sanjai Bhagat (University of Colorado) and Sandy Klasa (University of Arizona) at the 7th Annual Mergers & Acquisitions Research Centre & ECGI Conference at the Bayes Business School in 2023.

“Technological Uniqueness and Competitive Advantage” at the 2023 Sumantra Ghoshal Strategy Conference on Managerially Relevant Research at London Business School.