Anna Scherbina is an adjunct scholar at the American Enterprise Institute, where she is researching executive compensation. She is also an associate professor of finance at the University of California (UC), Davis. Before joining UC Davis, she was an assistant professor at Harvard Business School. She has also worked at the Federal Reserve Board and the International Monetary Fund.
At UC Davis, Scherbina’s primary area of research is behavioral finance and asset pricing. In particular, she focuses on how markets process new information and on the role of incentives and market frictions. Her research covers a variety of topics such as why seemingly sophisticated mutual fund managers may hold on to stocks with poor prospects, how investor disagreement about firm values affects future stock returns, and why volatile stocks tend to earn low returns. She is also documenting how personal attributes — such as gender, age, and education — of mutual fund managers influence their career outcomes.
Scherbina’s work has been published in top journals including the Journal of Finance, Review of Financial Studies, Journal of Financial and Quantitative Analysis, and Real Estate Economics. She has also presented her findings at major universities and academic conferences.
Scherbina received her Ph.D. in finance from the Kellogg Graduate School of Management at Northwestern University. She was born and grew up in Ukraine.
Ph.D. in finance, Kellogg Graduate School of Management at Northwestern University
It would be rational to evaluate the outcomes of all past decisions exclusively on their expected future payoffs and costs and not on the past, which should be irrelevant. Reality proves however that most people are not rational.