Alexander Nezlobin

I am Professor of Accounting at the London School of Economics. Prior to LSE, I got my PhD in Business from Stanford University and worked as a professor at the business schools of UC Berkeley and New York University. I hold a CPA license in the State of California but rarely if ever use it.

I blog about DeFi, crypto, mechanism design and such.

See below for some of my papers at the top accounting, finance, and management journals.

You can reach me by email.

Research interests:

Mechanism design
Market microstructure
Equity valuation
Managerial performance measurement
Investment models and real options
Disclosure and the cost of capital
Profitability analysis
Monopoly regulation

Full CV

Working papers:

Bayesian Pricing of News, with D. Livdan (R&R at Management Science)
Voluntary Disclosure of Granular Information (R&R at the Journal of Economic Theory)
- In this paper, information is called granular if it consists of a large random number of imprecise signals. As in Burn After Reading.

Selected publications:

Construct Validity in Accruals Quality Research, with R. Sloan and J. Zha Giedt, The Accounting Review (2021)
Incentivizing Irreversible Investment, with D. Livdan, The Accounting Review (2022)
Investment, Capital Stock, and Replacement Cost of Assets when Economic Depreciation is Non-Geometric, with D. Livdan, Journal of Financial Economics (2021)
Dynamic Investment Models in Accounting Research, Foundations and Trends® in Accounting (2018)
Accounting Rules, Equity Valuation, and Growth Options, with D. Livdan, Review of Accounting Studies (2017, presented at the 2016 RAST Conference)
Dynamic Effects of Information Disclosure on Investment Efficiency, with S. Dutta, Journal of Accounting Research (2017, presented at the 2016 JAR Conference)
Information Disclosure, Firm Growth, and the Cost of Capital, with S. Dutta, Journal of Financial Economics (2017)
- Model extension with endogenous investment: Information Disclosure, Real Investment, and Shareholder Welfare
Structural Properties of the Price-to-Earnings and Price-to-Book Ratios, with M. Rajan and S. Reichelstein, Review of Accounting Studies (2016)
Managerial Performance Evaluation and Real Options, with T. Baldenius and I. Vaysman, The Accounting Review (2016)
Managerial Performance Evaluation for Capacity Investments, with S. Reichelstein and Y. Wang, Review of Accounting Studies (2015)
Accrual Accounting, Informational Sufficiency, and Equity Valuation, Journal of Accounting Research (2012)
Dynamics of Rate-of-Return Regulation, with M. Rajan and S. Reichelstein, Management Science (2012)

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