Faculty profiles
Professor of Finance
Stephen Schaefer is Professor of Finance at London Business School. Formerly on the faculty of the Graduate School of Business at Stanford University, he has also been a visiting professor at the Universities of British Columbia, California (Berkeley), Cape Town, Chicago and Venice.
He has published widely on fixed income markets, risk management, credit risk and financial regulation. Much of his current research is devoted to understanding the pricing of credit risky instruments and, in particular, disentangling the impact of the default risk and market frictions. This includes an empirical study of the performance of credit pricing models as predictors of hedge ratios and a clinical study of the events surrounding the downgrade of Ford and GM to junk status in 2005.
Outside academic life, Stephen Schaefer is a member of Moody's Academic Research and Advisory Committee and a Non-Executive Director of Leo Fund Management. He was formerly an Independent Board Member of the Securities and Futures Authority, a Senior Research Advisor to Moody's KMV and a Trustee-Director of Smith Breeden Mutual Funds.
Professor of Finance
Narayan has played a key role in developing the finance group as Director of the PhD programme, the Investment Management Evening Programme and, more recently, as Director of The London Business School Hedge Fund Centre.