Peter G. Iliev

Color portrait of Peter G. Iliev

Professor of Finance

Department Finance
Office Address 306 Business Building
Phone Number 814-863-5456
Email Address

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Peter Iliev is a Professor of Finance at the Smeal College of Business, Pennsylvania State University, where he teaches financial management. He received his Ph.D. from Brown University and held an appointment as Financial Economist with the U.S. Securities and Exchange Commission in Washington, DC. His research interests include financial regulation, corporate governance, and corporate finance. His research has appeared in the Journal of Finance, the Review of Financial Studies, the Journal of Financial Economics, the Journal of Accounting Research, and Management Science. It has also been covered in the Wall Street Journal, the Washington Post, the Dallas Morning News, Bloomberg, Barron's, the Columbia Law School Blue Sky Blog, and the Harvard Law School Forum on Corporate Governance and Financial Regulation. Besides research and teaching, Peter enjoys playing tennis and spending time with his family.


Corporate Finance, Corporate Governance, Financial Regulation and Disclosure


Ph D, Economics, Brown University, 2008

MA, Economics, Ohio State University, 2003

MA, Economics, Central European University, 2001

BA, Business, Sofia University, 1999

Courses Taught

FIN 601 – Ph D Dis Full-Time

FIN 305W – Financial Mgmt Bus (3)
Development of advanced practices of financial management and their application to decision making in a business firm.

FIN 597 – Special Topics (1.5)

Selected Publications

Iliev P. G., Roth L., "Director Expertise and Corporate Sustainability." Review of Finance, vol. 27, no. 6, 2023, pp. 2085–2123
Haushalter D., Henry J., Iliev P. G., "Can Banks Save Mountains?." The Review of Corporate Finance Studies, vol. 12, no. 4, 2023, pp. 761-791
Iliev P. G., Kalodimos J., Lowry M., "Investors’ Attention to Corporate Governance." Review of Financial Studies, vol. 34, no. 12, 2021, pp. 5581–5628
─ Lead article
Iliev P. G., Bhandari T., Kalodimos J., "Governance Changes Through Shareholder Initiatives: The Case of Proxy Access." Journal of Financial and Quantitative Analysis, vol. 56, no. 5, 2021, pp. 1590-1621
Iliev P. G., Gibbons B., Kalodimos J., "Analyst Information Acquisition via EDGAR." Management Science, vol. 67, no. 2, 2021, pp. 769–793
Iliev P. G., Lowry M., "Venturing Beyond the IPO: Financing of Newly Public Firms by Venture Capitalists." Journal of Finance, vol. 75, no. 3, 2020, pp. 1527-1577
Iliev P. G., Vitanova S., "The Effect of Say-on-Pay in the U.S.." Management Science, vol. 65, no. 10, 2019, pp. 4505–4521
Iliev P. G., Roth L., "Learning from Directors’ Foreign Board Experiences." Journal of Corporate Finance, vol. 51, 2018, pp. 1-19
─ Lead article
Iliev P. G., Gustafson M., "The Effects of Removing Barriers to Equity Issuance." Journal of Financial Economics, vol. 124, no. 3, 2017, pp. 580-598
Iliev P. G., Cao Q., Velthuis R., "Style Drift: Evidence from Small-Cap Mutual Funds.." Journal of Banking and Finance, vol. 78, 2017, pp. 42-57
Iliev P. G., Luns K., Miller D., Roth L., "Shareholder Voting and Corporate Governance Around the World." Review of Financial Studies, vol. 28, no. 8, 2015, pp. 2167-2202
─ Lead article / Editor’s choice
Iliev P. G., Lowry M. B., "Are Mutual Funds Active Voters?." Review of Financial Studies, vol. 28, no. 2, 2015, pp. 446-485
Iliev P. G., Miller D., Lukas R., "Uninvited U.S. Investors? Economic Consequences of Involuntary Cross-listings.." Journal of Accounting Research, vol. 52, no. 2, 2014, pp. 473-519
Iliev P. G., Welch I., "A Model of Operational Slack: The Short-Run, Medium-Run, and Long-Run Consequences of Limited Attention.." Journal of Law, Economics and Organization, vol. 29, no. 1, 2013, pp. 2-34
─ Lead article
Iliev P. G., "The Effect of SOX Section 404 Compliance on Audit Fees, Earnings Quality and Stock Prices.." Journal of Finance, vol. LXV, no. 3, 2010, pp. 1163-1196


Journal of Corporate Finance, Associate Editor, January 2021 - Present
Journal of Financial Research, Associate Editor, December 2017 - Present