Alexei Tchistyi (on leave)

Biography

Alexei Tchistyi is a professor of real estate and the Director of the MMH Program. Alexei received his PhD in business from the Stanford Graduate School of Business in 2005. Before joining Cornell University in 2020, he was an assistant professor of finance at the New York University Stern School of Business (2005-2008), an assistant professor of real estate at the UC Berkeley Haas School of Business (2008-2014), where he also served as a co-chair of the Fisher Center for Real Estate and Urban Economics (2012-2014), and an associate professor of finance and director of the Office of Real Estate Research at the University of Illinois at Urbana-Champaign (2014-2020).

Tchistyi’s research focuses on various topics related to real estate finance and corporate finance: mortgage design, asset-backed securities, banking regulations, dynamic contracting, and executive compensation. His papers have been published in The Review of Financial Studies, The Journal of Financial Economics, The Journal of Finance, and The Journal of Financial and Quantitative Analysis.

Education

PhD Graduate School of Business, Stanford University, 2005
MA New Economic School, 1999
MS Moscow Institute of Physics and Technology, 1998
BS Moscow Institute of Physics and Technology, 1996

Research

• Flynn, Sean; Ghent, Andra; Tchistyi, Alexei. "The Imitation Game: How Encouraging Renegotiation Makes Good Borrowers Bad"Review of Financial Studies. 37.12 (2024): 3648-3709
• Steiner, Eva; Tchistyi, Alexei. "Distortionary effects of PPP loans on business competition"Journal of Financial Intermediation. 59 (2024): e101099
• Flynn, Sean; Ghent, Andra; Tchistyi, Alexei. "Informational Efficiency in Securitization After Dodd-Frank"Review of Financial Studies. 33.11 (2020): 5131–5172
• Pennacchi, George; Tchistyi, Alexei. "Contingent Convertibles with Stock Price Triggers: The Case of Perpetuities"Review of Financial Studies. 32.6 (2019): 2302–2340
• Pennacchi, George; Tchistyi, Alexei. "On Equilibrium When Contingent Capital Has a Market Trigger: A Correction to Sundaresan and Wang Journal of Finance (2015)"Journal of Finance. 74.3 (2019): 1559-1576
• Mayer, Chris; Piskorski, Tomasz; Tchistyi, Alexei. "The Inefficiency of Refinancing: Why Prepayment Penalties are Good for Risky Borrowers"Journal of Financial Economics. 107.3 (2013): 694-714
• Hartman-Glaser; Piskorski, Tomasz; Tchistyi, Alexei. "Optimal securitization with moral hazard"Journal of Financial Economics. 104.1 (2012): 186-202
• Piskorski, Tomasz; Tchistyi, Alexei. "Stochastic House Appreciation and Optimal Mortgage Lending"Review of Financial Studies. 24.5 (2011): 1407–1446
• Piskorski, Tomasz; Tchistyi, Alexei. "Optimal Mortgage Design"Review of Financial Studies. 23.8 (2010): 3098-3140
• Manso, Gustavo; Strulovici, Bruno; Tchistyi, Alexei. "Performance-Sensitive Debt"Review of Financial Studies. 23.5 (2010): 1819–1854

Awards

• Young Researcher Award (2009) The Review of Financial Studies
• The Earl F. Cheit Outstanding Teaching Award (2010 - 2011) Haas School of Business