Dr Oksana Pryshchepa

Dr Oksana Pryshchepa

The Department of Finance
Lecturer in Finance

Contact details

Birmingham Business School
University House
B15 2TT

Oksana Pryshchepa holds a PhD degree in Finance from Lancaster University. Prior to joining Birmingham Business School as a lecturer in Finance in August 2014, she worked as a Developmental Lecturer in Finance at Lancaster University Management School.

Oksana’s current research interests are empirical issues in corporate finance and corporate governance. Specifically, she focuses on shareholder-manager and shareholder-debtholder conflicts of interests in corporations, agency conflicts in financially distressed firms, managerial risk-taking and on understanding of the role of corporate governance regulations in mitigating the agency conflicts.

Oksana is also a Visiting Researcher at the Department of Accounting & Finance at the University of Lancaster Management School and a Fellow of the Higher Education Academy. She is also a member of the American Finance Association (AFA) and European Finance Association (EFA).


  • PhD in Finance, Lancaster University (2013)
  • MSc in Economics and Management, Humboldt University of Berlin (2007)
  • A Fellow of the Higher Education Academy (UK)
  • Passed CFA Level I


  • Module Leader for Corporate Financial Management on MSc in Financial Management (07 26685)
  • Module Leader for International Business Finance, MBA (07 15442)
  • Class teacher for Introduction to Finance on BSc in Accounting and Finance (07 26355 and 07 26356)

Postgraduate supervision

  • Bo Wang (since 2015, Thesis on “The Monitoring Role and Synergy Implications of Debt in Mergers and Acquisitions”).
  • Siyu Huang (since 2017, Thesis on “Managerial Power and Equity Incentives”)

Ph.D. applicants with interests that overlap with my research areas are welcome. Applicants should have MSc degree with Distinction, strong quantitative background and knowledge of statistical software (e.g., Stata and SAS) and programming skills (e.g., in Python).


Research interests

Empirical Corporate Finance: agency conflicts, managerial risk-taking, corporate bankruptcy and financial distress,  corporate investments, corporate governance, executive compensation.

Other activities

Current Administrative Responsibilities: Finance Research Seminar Organizer (University of Birmingham)

Former posts:

  • 2013-2014: Lancaster University Management School, Developmental Lecturer in Finance
  • 2007-2010: Humboldt University of Berlin, Finance Department, Research and Teaching Assistant
  • 2006-2007: German Institute for Economic Research (DIW Berlin),  Research Assistant


Journal articles: 

  • “Can Investors Restrict Managerial Investment Behavior in Distressed Firms?” Journal of Corporate Finance 23 (2013), 222-239 (with Kevin Aretz and Shantanu Banerjee)
  • “In the Path of the Storm: Does Distress Cause Industrial Firms to Risk-Shift?” (with K.Aretz and S. Banerjee), Accepted (July 2018) and forthcoming in Review of Finance

Research Papers:

  • “In the Path of the Storm: Does Distress Cause Non-Financial Firms to Risk-Shift?” (with Kevin Aretz and Shantanu Banerjee), Working Paper, Revise and Resubmit in Review of Finance
  • “Disciplining Entrenched Managers through Corporate Governance Reform: Implications for Risk-Taking Behavior”, Working Paper
  • “Do Firm That Combined Through Mergers and Acquisitions Have a Leverage Target?” (with N. Carline and B. Wang), Working Paper
  • “Board Links and Issuance Decisions”, Work-in-Progress (with S. Banerjee and S. Dasgupta)

For complete research output, see Oksana Pryshchepa’s SSRN webpage.