Wolffintie 34, 65200 Vaasa

Denis Davydov

Assistant Professor

School of Accounting and Finance, Finance
E-mail: firstname.lastname@univaasa.fi
Telephone: +358 29 449 8468
Address: Wolffintie 34, 65200 Vaasa
Office: Tervahovi D320 
Office Hours: by appointment

Publications and scientific activities:

» Research Database SoleCRIS


I am an Assistant Professor at the Department of Accounting and Finance since 2014. My research interests focus on financial institutions and corporate financial decision-making with a particular emphasis on capital and ownership structures, bank-firm relationships, performance and behavior of banks.


In addition to Master's and Bachelor's Theses supervision, I teach the following courses on the EPAS-accredited Master's Degree Program in Finance:

  • LASK3018 Investments
  • LASK3015 Research in Financial Analysis
  • LASK3004 Introduction to Master's Thesis Research in Finance
  • JOHT3003 International Strategic Management

I also supervised Bachelor's Theses and gave lectures on Principles of Finance at the Stockholm Business School of the University of Stockholm.


Published articles in refereed journals:

Davydov, D., Fungácová, Z. & Weill, L. (2018). Cyclicality of bank liquidity creation. Journal of International Financial Markets, Institutions & Money (forthcoming). PDF

Davydov, D., Florestedt, O., Peltomäki, J. & Schön, M. (2017). Portfolio performance across genders and generations: The role of financial innovation. International Review of Financial Analysis, Vol. 50, 44-51. Abstract PDF

Davydov, D. (2017). Does state ownership of banks matter? Russian evidence from the financial crisis. Journal of Emerging Market Finance (forthcoming) PDF Video

Davydov, D., Tikkanen, J. & Äijö, J. (2016). Magic formula vs. traditional value investment strategies in the Finnish stock market. Nordic Journal of Business, Vol. 65, 38-54. PDF

Davydov, D. (2016). Debt structure and corporate performance in Emerging Markets. Research in International Business and Finance, Vol. 38, 299-311. Abstract PDF

Davydov, D. & Swidler, S. (2016). Reading Russian tea leaves: Assessing the quality of bank financial statements with the Benford distribution. Review of Pacific Basin Financial Markets and Policies, Vol. 19, 1-20. Abstract

Davydov, D., Nikkinen, J. & Vähämaa, S. (2014). Does the decision to issue public debt affect firm valuation? Russian evidence. Emerging Markets Review, Vol. 20, 136-151. Abstract PDF

Davydov, D. & Vähämaa, S. (2013). Debt source choices and stock market performance of Russian firms during the financial crisis. Emerging Markets Review, Vol. 15, 148-159. Abstract PDF

Book chapters:

Davydov, D. & Swidler, S. (2016). Auditing bank financial statements in emerging market countries: the use of the Benford distribution in "Risk management in emerging markets: issues, framework, and modeling". Emerald, ISBN: 978-1-78635-452-5 Book Chapter

Selected working papers:

Davydov, D. & Sihvonen, J. (2017). Why do people trust banks?

Longer research visits

Bank of Finland (BOFIT), Helsinki, Finland - visiting researcher, April-May 2016; August-September 2017

Auburn University, AL, USA - visiting researcher, November 2015

Manchester Business School, University of Manchester, Manchester, UK - associate researcher, November-December 2013

Most recent invitations for presentations & discussions

Bank of Finland (BOFIT) research seminar, September 2017 - Helsinki, Finland

Workshop on Banking and Institutions, May 2017 - Helsinki, Finland

Stockholm Business School finance research seminar, February 2017 - Stockholm, Sweden

Bank of Finland (BOFIT) research seminar, February 2017 - Helsinki, Finland

6th CInST Banking WorkshopHSE, October 2016 - Moscow, Russia

Conference on China's Financial Markets and the Global Economy, September 2016 - Helsinki, Finland

Bank of Finland (BOFIT) research seminar, April 2016 - Helsinki, Finland

5th CInST Banking WorkshopHSE, October 2015 - Moscow, Russia