Anna Pavlova
Professor of Finance; Academic Director, AQR Asset Management Institute
MS (Moscow State University) MA (New Economic School, Moscow) PhD (Pennsylvania)
Anna is Professor of Finance at London Business School (LBS). She is also Academic Director of the AQR Asset Management Institute at LBS and Programme Director of the Asset Pricing Programme at the Centre for Economic Policy Research (CEPR). She serves on the European Economic Association Council and the SFI Scientific Council. Formerly, she was Director of the American Finance Association and Director of the European Finance Association.
Prior to joining LBS, she was on the faculty at MIT Sloan School of Management. She holds a PhD in Economics from the University of Pennsylvania, an MA in Economics from the New Economic School (Moscow) and an MSc in Applied Mathematics from Moscow State University.
She has published in top journals such as American Economic Review, Journal of Finance, Journal of Financial Economics, Review of Financial Studies and Review of Economic Studies. Her recent research focuses on the impact of institutional investors on asset prices, ESG investing, retail trading in options, the financialisaton of commodities and frictions in international financial markets.
Anna has been awarded an ERC Starting Grant and has received a number of other prestigious awards for her research and teaching.
- Personal website
- apavlova@london.edu
- +44 (0)20 7000 8218
- Anna Pavlova CV
Research Awards
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Elected Director, European Finance Association, mandate 2012-2015.
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ERC Starting Grant, a five-year grant to fund research and buy down teaching, 2010.
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MBA Outstanding Core Course Teaching Award, for Corporate Finance and Valuation, 2009, 2011, 2012.
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Fondation Banque de France research grant, for proposal entitled, “An Asset-Pricing View of the Current Account” (with R. Rigobon), 2007.
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London Business School Centre for Corporate Governance research grant, for “Offsetting the Incentives: Benefits of Benchmarking in Money Management” (with S.Basak and A. Shapiro), 2007.
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Institute for Quantitative Research in Finance (Q Group) funding award, for “Optimal Asset Allocation and Risk Shifting in Money Management” (with S. Basakand A. Shapiro), 2003.
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Ford Foundation International Career Development Chair (a three-year chair), Sloan School of Management, Massachusetts Institute of Technology, 2001 and 2004.
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Joel Popkin Graduate Student Teaching Prize in Economics, University of Pennsylvania, 2000.
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CARESS Research Fund Award, University of Pennsylvania, 1999.
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Beth Hayes Prize for Graduate Research Accomplishment in Economics, University of Pennsylvania, 1998.
Fellowship
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Department of Economics Fellowship, University of Pennsylvania, 1995–1996.
Scholarship
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Yale-Moscow State University Exchange Scholarship, 1993.
- International finance and economics
- Asset pricing
- Market imperfections
- Continuous-time finance and economics
- Mutual funds
- Portfolio choice
- Equilibrium theory
2023
Benchmarking Intensity
Pavlova A; Sikorskaya T
Review of Financial Studies 2023 Vol 36:3 p 859-903
2021
The benchmark inclusion subsidy
Kashyap A K; Kovrijnykh N; Li J; Pavlova A
Journal of Financial Economics 2021 Vol 142:2 p 756-774
2016
A model of financialization of commodities
Basak S; Pavlova A
Journal of Finance 2016 Vol 71:4 p 1511-1556
2013
Asset prices and institutional investors
Basak S; Pavlova A
American Economic Review 2013 Vol 103:5 p 1728-1758
International macro-finance
Pavlova A; Rigobon R
Book Chapter: In Caprio G (ed.) Handbook of Safeguarding Global Financial Stability: Political, Social, Cultural and Econmic Theories and Models, p169-176, Oxford: Elselvier Inc, 2013
2010
An asset-pricing view of external adjustment
Pavlova A; Rigobon R
Journal of International Economics 2010:80 p 144-156
2008
Multiplicity in general financial equilibrium with portfolio constraints
Basak S; Cass D; Licari J M; Pavlova A
Journal of Economic Theory 2008 September Vol 142:1 p 100-127
Offsetting the implicit incentives: Benefits of benchmarking in money management
Basak S; Pavlova A; Shapiro A
Journal of Banking and Finance 2008:32 p 1883-1893
The role of portfolio constraints in the international propagation of shocks
Pavlova A; Rigobon R
Review of Economic Studies 2008 Vol 75:4 p 1215-1256
2007
Asset prices and exchange rates
Pavlova A; Rigobon R
Review of Financial Studies 2007 July Vol 20:4 p 1139-1181
Optimal asset allocation and risk shifting in money management
Basak S; Pavlova A; Shapiro A
Review of Financial Studies 2007 Vol 20:5 p 1583-1621
2005
Monopoly power and the firm's valuation: a dynamic analysis of short- versus long-term policies
Basak S; Pavlova A
in Citanna A et al. eds, Essays in dynamic general equilibrium theory: festschrift for David Cass, Springer, 2005
2004
Monopoly power and the firm's valuation: a dynamic analysis of short- versus long-term policies
Basak S; Pavlova A
Economic Theory 2004 Oct Vol 24:3 p 503-530
2022
Retail Trading in Options and the Rise of the Big Three Wholesalers
Bryzgalova S; Pavlova A; Sikorskaya T
Social Sciences Research Network
2018
Benchmarking asset managers
Kashyap A K; Pavlova A; Kovrijnykh N
Society for Economic Dynamics Meeting Papers
2012
Equilibrium portfolios and external adjustment under incomplete markets
Pavlova A; Rigobon R
IFA Working Paper
2008
Role of portfolio constraints in the international propagation of shocks
Pavlova A; Rigobon R
Review of Economic Studies
2002
Adjustment costs, learning-by-doing, and technology adoption under uncertainty
Pavlova A
Social Sciences Research Network
Teaching portfolio
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