Vitaly L. Okulov

Associate Professor, Department of Finance and Accounting

Vitaly L. Okulov
Courses

Corporate Finance – 1, 2 (Bachelor program)

Risk management (Bachelor program)

Research Seminar (Bachelor program)

EDUCATION AND ACADEMIC DEGREES

  • European University at St. Petersburg, Master of Economics. 2000.
  • Ioffe Physical Technical Institute, USSR Academy of Science, Candidate of Science in Physics and Mathematics, 1986.
  • Leningrad Institute of Precision Mechanics and Optics, Faculty of Engineering Physics, Diploma (with Honours) in Quantum Electronics. 1973–1979.

RESEARCH

  • Financial markets and portfolio management
  • Risk management in corporate Finance
  • Real options approach when making investment decisions by companies
  • Experimental economics (computer simulation)

SELECTED PAPERS AND PUBLICATIONS

Books, Monographs and Textbooks

  • Financial institutions and markets. SPbSU Publishing House., 2015.
  • Lectures on selected issues of classical financial models. S.-Petersburg: GSOM Publishing Center, 2010 (with A. Bukhvalov, E. Dorofeev).
  • Introduction to the Financial Markets and Institutes. S.-Petersburg: GSOM Publishing Center, 2011 (with T. Pustovalova).

 

Papers in Academic Journals

  • A Real Options Model for Analysis of Industrial R&D Expenditures. // Russian Management Journal. 2018, Vol. 16, №3, pp. 393-406. (with Bukhvalov A., Lukianova A., Nikulin E.)
  • Features of the Project and Risk Premium in Investment Decision Making // Vestnik (Herald) of Saint Petersburg University. Management. 2018. Vol. 17, № 2, pp. 147-167 (with Khafizova K.)
  • Company’s Investment Decision under Uncertainty: Risk Management Approach // Vestnik (Herald) of Saint Petersburg University. Management Series. 2017. Vol. 16, №2, pp. 191-214.
  • Empirical Research of Cash Currency Buy and Sell Rates in Russia // Economic Science of Modern Russia. 2016. №3(73), pp. 106-118. (with Savenkov P.)
  • Selective hedging of corporate risks // Vestnik (Herald) of Saint Petersburg University. Management Series. 2015. № 3. pp. 3–20.
  • Newsvendor Problem Experiments: Riskiness of the Decisions and Learning by Experience // International Journal of Business and Social Research. 2014. Vol. 4. pp. 137-150 (with Archavski V., Smirnova A.)
  • Analysis of the Microstructure of the Russian Stock Market: Bid-ask Spreads and Risk of Illiquid Shares // Russian Management Journal. 2012. Vol. 10. N 2, pp. 33–50.
  • The Effect of Hedging Activities on the Stock Price Performance of Russian Companies // Vestnik (Herald) of Saint Petersburg University. Management Series. 2012. № 3, pp. 3–24 (with V. Skrpiuk).
  • Study of the Russian Stock Market Efficiency: The Market Reaction to the Publication of Analysts’ Forecasts // Vestnik (Herald) of Saint Petersburg University. Management Series. 2010. № 3, pp. 3–22.

 

Papers in Professional Journals

  • Guiding stars of ratings // Rynok Tsennyh Bumag (Securities Market), 2013. N 5. С. 37–40 (with с А. Seryakova).
  • Market Risk of Russian Telecoms // Rynok Tsennyh Bumag (Securities Market), 2007. N 8, pp. 53–54 (with K. Kuhotskiy, S. Truhanovich).
  • Investing in Russian Market: Theory and Practice // Rynok Tsennyh Bumag (Securities Market), 2004, N 24, pp. 28–31.
  • Benchmarks for Mutual Funds Management // Rynok Tsennyh Bumag (Securities Market), 2004, N 15, pp. 36–39 (with K. Kuhotskiy, A. Lystsov).
  • The Indices of the Russian Market of Government Bonds // Rynok Tsennyh Bumag (Securities Market), 2003, N 10, pp. 17–22 (with O. Gredil, A. Kravchuk).
  • Evaluation of the Term Structure of Interest Rates in the Market of St.-Petersburg Bonds // Rynok Tsennyh Bumag (Securities Market), 2002, N 4, pp. 74–76 (with D. Korneev).
  • Pricing and Risk Valuation of Bonds with Variable Coupons // Rynok Tsennyh Bumag (Securities Market), 2001, N 10, pp. 78–80.
  • Quantifying the Liquidity of Shares on the Russian Stock Market // Rynok Tsennyh Bumag (Securities Market), 2000, N 23, pp. 78–80.

 

Chapters in Books and Collections of Essays

  • Analysis of Capital Structure of Telecom Companies // Telecommunications in Russia: a collection of essays. Vol. 4. Moscow: Aspekt Press, 2008, pp. 5–104. (with A. Karlitskay, E. Kuhotskay, K. Kuhotskiy, etc.).
  • The Use of Simulation to Assess the Optimal Capital Structure of the Telecommunication Company in the Financial Crisis // Telecommunications in Russia: a collection of essays. Vol. 4. Moscow: Aspekt Press, 2008, pp. 105-176 (with A. Karlitskay, E. Kuhotskay, K. Kuhotskiy, etc.).
  • Analysis of the term structure of interest rates on the Russian financial market // Economic Research: Theory and Applications. Vol. 2 (ed. S.Pecherskiy). St. Petersburg: European University, 2002, pp. 72–93 
  • (with A. Bukhvalov, O. Kryukovskay).
  • Does the logic of the Russian financial market? // Finance and Corporate Policy (ed. A. Bukhvalov, S. Kotelkin). 
  • St.-Petersburg: St.-Petersburg State University, 2000. pp. 7–47. (with A. Bukhvalov).
  • Experimental Study of Supply and Demand Interaction by Computer Simulation // Questions of Economic Theory and Practice (ed. S. Pecherskiy, A. Pikovsky). St.-Petersburg: "Borey", 1999. pp. 143–152.

HONORS AND AWARDS

OTHER PROFESSIONAL ACTIVITIES

Other professors
of the department

Alexander Yu. Andrianov
Alexander Yu. Andrianov
Assistant Professor, Department of Finance and Accounting
 Irina V. Berezinets
Irina V. Berezinets
Associate Professor, Department of Finance and Accounting Deputy Chair of Department, Department of Finance and Accounting
Alexander V. Bukhvalov
Alexander V. Bukhvalov
Head of Department, Department of Finance and Accounting Professor, Department of Finance and Accounting
Yulia B. Ilina
Yulia B. Ilina
Associate Professor, Finance and Accounting Department
Egor D. Nikulin
Egor D. Nikulin
Associate Professor, Department of Finance and Accounting
Vitaly L. Okulov
Vitaly L. Okulov
Associate Professor, Department of Finance and Accounting
Tatiana A. Pustovalova
Tatiana A. Pustovalova
Associate Professor, Department of Finance and Accounting
Marat V. Smirnov
Marat V. Smirnov
Senior Lecturer, Department of Finance and Accounting

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