Professor Ph.D. (Ohio State, 1975), M.A. (Ohio State, 1973), B.S. (MIT, 1968) Office: Max Gluskin House, 150 St. George Street, 272. Phone: 416-978-2375. Fax: 416-978-6713. Office: University of Toronto, Mississauga, 3260. Phone: 905-828-5302. Email address: Personal website: http://individual.utoronto.ca/vaivazian/Home.htm Research fields: Financial economics, Law and economics

Selected research

• Varouj A. Aivazian and Jeffrey Callen, "Some Fallacies in Corporate Finance: A Coaseian Perspective", Journal of Law, Finance and Accounting 8 (2) (2024), 142–163.
• Varouj A. Aivazian and Jeffrey Callen, "The Coase Theorem and The Empty Core: Inspecting the Entrails After Four Decades", International Review of Law and Economics 73 (73) (2023), 106–117.
• Varouj A. Aivazian, Mohammad Rahaman, Simiao Zhou, "Does Corporate Diversification Provide Insurance Against Economic Disruptions?", Journal of Business Research 100 (2019), 218–233.
• Varouj A. Aivazian and Jeffrey Callen, "The Coase Theorem and the Theory of the Core", in Encyclopedia of Law and Economics (edited by Alain Marciano and Giovanni Ramello), Springer, 2019, 1–5.
• Varouj A. Aivazian, Tzu-Ting Chiu, Miguel Minutti-Meza, Dushyantkumar Vyas, "Political Uncertainty and the Timing of Mass Layoffs", Production and Operations Management, forthcoming.

Honors and awards

• Best paper in Corporate Finance, Financial Management Association Annual Meeting, (with , with M. Rahaman and L. Sun), “Financial Shocks and Firm Performance: Evidence from Systemic Banking Crises”, 2011.
• Best Paper in Corporate Finance,Southern Finance Association Meetings,for paper (with L. Booth, V. Maksimovic and A. Demirguc-Kunt), entitled "Capital Structures in Developing Countries", 1999.
• Best Paper in Corporate Finance,Northern Finance Association Meetings,for paper (with M. Berkowitz), "Production Flexibility and Corporate Capital Structure", 1991.

Courses taught 2024–2025

• Winter

• ECO1501H1S, section L5101 (St. George) • Financial Economics II • R7-9 • WW 121