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Sergey Chernenko

Sergey Chernenko

Associate Professor of Management
Finance

Education

Ph.D., Business Economics, Harvard University, 2010
A.M., Economics, Harvard University, 2008
BSBA, Finance, Washington University in St. Louis, 2003

CV

Journal Articles

  • Chernenko, S., Lerner, J., & Zeng, Y. (2021). "Mutual Funds as Venture Capitalists? Evidence from Unicorns." Review of Financial Studies vol. 34 (5), 2362–2410. | Related Website |
  • Chernenko, S. & Sunderam, A. (2019). "Do Fire Sales Create Externalities?" Journal of Financial Economics | Related Website |
  • Chernenko, S. (2017). "The Front Men of Wall Street: The Role of CDO Collateral Managers in the CDO Boom and Bust." Journal of Finance vol. 72 (5), 1893–1936. | Related Website |
  • Chernenko, S., Hanson, S. G., & Sunderam, A. (2016). "Who Neglects Risk? Investor Experience and the Credit Boom." Journal of Financial Economics vol. 122 (2), 248–269. | Related Website |
  • Chernenko, S. & Sunderam, A. (2014). "Frictions in Shadow Banking: Evidence from the Lending Behavior of Money Market Mutual Funds." Review of Financial Studies vol. 27 (6), 1717–1750. | Related Website |
  • Chernenko, S., Foley, C. F., & Greenwood, R. (2012). "Agency Costs, Mispricing, and Ownership Structure." Financial Management vol. 41 885-914. | Related Website |
  • Chernenko, S. & Sunderam, A. (2012). "The Real Consequences of Market Segmentation." Review of Financial Studies vol. 25 (7), 2041–2070. | Related Website |
  • Chernenko, S. & Faulkender, M. (2011). "The Two Sides of Derivatives Usage: Hedging and Speculating with Interest Rate Swaps." The Two Sides of Derivatives Usage: Hedging and Speculating with Interest Rate Swaps vol. 46 (6), 1727-1754. | Related Website |
  • Berger, D., Chaboud, A. P., Chernenko, S., Howorka, E., & Wright, J. H. (2008). "Order Flow and Exchange Rate Dynamics in Electronic Brokerage System Data." Journal of International Economics vol. 75 (1), 93-109. | Related Website |

Conference Proceedings

  • Chaboud, A. P., Chernenko, S., & Wright, J. H. (2008). "Trading Activity and Macroeconomic An- nouncements in High-Frequency Exchange Rate Data." Journal of the European Economic Association Proceedings of the Twenty-Second Annual Congress of the European Economic Association. vol. 6 (2/3), 589–596. | Related Website |

Working Papers

  • Chernenko, S., and Doan, V. (2021). "Forced Sales and Dealer Choice in OTC Markets." | Related Website |
  • Chernenko, S., Erel, I., & Prilmeier, R. (2020). "Why Do Firms Borrow Directly from Nonbanks?" | Related Website |
  • Chernenko, S. & Sunderam, A. (2020). "Measuring the Perceived Liquidity of the Corporate Bond Market." | Related Website |
  • Chernenko, S. & Sunderam, A. (2016). "Liquidity Transformation in Asset Management: Evidence from the Cash Holdings of Mutual Funds." | Related Website |
  • Chernenko, S., Hanson, S. G., & Sunderam, A. (2014). "The Rise and Fall of Demand for Securitization." NBER Working Paper 20777 | Related Website |
  • Chernenko, S. & A. Sunderam (2010). "Arbitrage Capital and Real Investment."
  • Chaboud, A. P. & S. Chernenko & E. Howorka & R. S. Krishnasami Iyer & D. Liu & J. H. Wright (2004). "The High-Frequency Effects of U.S. Macroeconomic Data Releases on Prices and Trading Activity in the Global Interdealer Foreign Exchange Market."
  • Collateralized Debt Obligations

    Incentives for Reckless Investing? How CDO managers contributed to the 2007-09 financial crisis

    Collateralized debt obligations (CDOs) and other structured products played a significant role in the credit boom of the early 2000s and the ensuing financial crisis of 2007 to 2009. Contributing to the economic disaster were the actions of a number of CDO collateral managers, who packed their products with inferior components: risky portions of private-label residential mortgage-backed securities. Research by Sergey Chernenko, associate professor in Purdue’s Krannert School of Management, shows why these collateral managers were willing to risk their reputations and select low-quality investments.

    Full story: Incentives for Reckless Investing? How CDO managers contributed to the 2007-09 financial crisis

  • Liquidity in the corporate bond market

    Cash In or Cash Out? Krannert's Sergey Chernenko discusses liquidity in the corporate bond market

University Faculty Scholar

Jay Ross Young Faculty Scholar Award

Contact

schernen@purdue.edu
Phone: (765) 494-4133
Office: KRAN 523

Quick links

Personal website
SSRN page
Google Scholar