Mariana Khapko

Mariana Khapko
Assistant Professor
Telephone number
(416) 287-7320
Building IC 370


Mariana Khapko is an Assistant Professor of Finance at the University of Toronto, cross-appointed to the Finance Area at the Rotman School from the Department of Management at the University of Toronto Scarborough. Mariana conducted her doctoral studies at the Finance Department at the Stockholm School of Economics and is a Research Affiliate to the Swedish House of Finance (SHoF). Her main research interests are in theoretical asset pricing, behavioral finance and the microstructure of financial markets.


2009 – 2015 – PhD in Finance

Stockholm School of Economics (SSE), Stockholm, Sweden


2007 – 2009 MA in Economics, with Distinction

Central European University (CEU), Budapest, Hungary


2006 – 2007 Master in Finance, with Highest Honors

Ivan Franko National University of Lviv (LNU), Lviv, Ukraine


2002 – 2006 Bachelor in Economics and Entrepreneurship, with Highest Honors

Ivan Franko National University of Lviv (LNU), Lviv, Ukraine

Research Interests

Asset Pricing; Portfolio Choice; Market Microstructure


Speed and Learning in High-Frequency Auctions, Journal of Financial Markets, Forthcom­ing (with Marlene Haas, Marius Zoican)

How Fast Should Trades Settle?, Management Science, Forthcoming (with Marius Zoican)

Should Investors Learn About the Timing of Equity Risk?, Journal of Financial Economics, 2019, Volume 132, Issue 3, Pages 182–204 (with Michael Hasler, Roberto Marfè)

On TimeInconsistent Stochastic Control in Continuous Time, Finance and Stochastics, 2017, Volume 21, Issue 2, Pages 331–360 (with Tomas Björk, Agatha Murgoci)