Iuliana Ismailescu

Iuliana Ismailescu

Lubin School of Business



Iuliana Ismailescu, Ph.D., is Professor of Finance. She holds a Ph.D. in Finance from University of Massachusetts Amherst, an MBA in Financial Management from Pace University, and a BS in Mathematics from University of Bucharest. Her research interests include credit derivatives, emerging debt and equity markets, international finance, fixed income securities, asset pricing, and portfolio management. Her research was published in the Journal of Banking and Finance, Journal of Empirical Finance, International Review of Finance, Quarterly Review of Economics and Finance, Review of Pacific Basin Financial Markets and Policies, and Journal of Investment Management, among others. She co-authored a mathematics book in Romanian and contributed several book chapters to Interest Rate Risk Modeling and Dynamic Term Structure Modeling. Dr. Ismailescu received the FMA 2007 Best Dissertation Proposal Award in International Finance for her Ph.D. thesis "Three Essays on Emerging Capital Markets." She frequently presents her research at domestic and international conferences, and serves as an ad-hoc reviewer for top-tier finance journals.

Dr. Ismailescu currently teaches courses in Financial Management, Corporate Finance, and International Finance at undergraduate and graduate levels. She also runs a seminar in Capital Markets in the doctoral program.


PhD, University of Massachusetts Amherst, Amherst, MA

Publications and Presentations


Braga Alves, M.V., Ismailescu, I., Sen, K. (2022). Powerful CEOs and their legacy: Evidence from credit risk around CEO turnovers. Quarterly Review Of Economics And Finance. 84345-358. Read More >>

Ismailescu, I., Col, B. (2022). Cross-border M&As and Credit Risk: Evidence from the CDS Market. Journal of Empirical Finance. 66(March 2022), 51-73.

Gottesman, A., Ismailescu, I. (2020). Student selectivity and higher education institutions credit ratings. Journal of Financial Economic Policy. 13(1), 136-159.

Hegemann, S., Ismailescu, I. (2017). The Effect of FASB Statement No. 123R on Stock Repurchases: An Empirical Examination of Management Incentives. Review of Pacific Basin Financial Markets and Policies. 20(2).

Ismailescu, I., Phillips, B. (2015). Credit Default Swaps and the Market for Sovereign Debt. Journal of Banking & Finance. 5243-61.

Ismailescu, I., Morey, M. (2012). Redemption Fees and the Risk-Adjusted Performance of International Equity Mutual Funds. Journal of Investment Management. 10(3), 21-33.

Ismailescu, I., Kazemi, H. (2010). The reaction of emerging market credit default swap spreads to sovereign credit rating changes. Journal of Banking & Finance. 34(12), 2861-2873.

Ismailescu, I., Branch, B. (2010). Managerial Performance And Closed-End Country Fund Premiums: A Lead Or Lag Relationship?. International Review of Finance. 10(4), 433-453.

Ismailescu, I. (2008). Determinants of the Time-Variation in Emerging-Market Closed-End Fund Premiums: A Comparison Between Equity and Bond Funds. American Economist. LII(2), 54-64. Read More >>