Koresh Galil ,PhD

 

Associate Professor of Economics and Finance,

Economics Department,

Ben-Gurion University of the Negev

 

Tel: +972-8-647-2310

E-Mail: galilk@bgu.ac.il

 

 

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Office Address:

Department of Economics

Ben-Gurion University of the Negev

P.O. Box 653

Beer-Sheva 8410501, Israel

 

Office Location:

Marcus Campus, Building 72, Room 429

 

CV | Research | Teaching | Research students

Research

Research Interests

Empirical finance, Credit risk, Credit ratings, Corporate finance, Market competition, Sovereign risk, Fixed-income, Derivatives, Algo-trading

Publication

1.        (*) National culture and banks' stock volatility, with Eva Varon,  Journal of International Financial Markets, Institutions & Money, forthcoming. [Article]

2.        (*) Shedding Light on the Dynamics of the Secured Overnight Financing Rate (SOFR), with Lior David-Pur and Mosi Rosenboim, and Offer Shapir, International Review of Finance, forthcoming. [Article]

3.        (*) Socioeconomic status and individual investors’ behavior during a financial crisis, with Avia Spivak, and Aviad Tur-Sinai, Journal of Behavioral and Experimental Finance, 40 (2023), 100855. [Article]

4.        (*) Prediction of corporate credit ratings with machine learning: Simple interpretative models, with Ami Hauptman and Rosit Rosenboim, Finance Research Letters, 58, 104648. [Article]

5.        (*) Cross-currency basis swap spreads and corporate dollar funding, with Lior David-pur, Mosi Rosenboim, and Offer Shapir, Journal of International Financial Markets, Institutions & Money, 85 (2023), 101780. [Article]

6.          Bailouts and the Modeling of Bank Distress, with Margalit Samuel, Offer Shapir and Wolf Wagner, Journal of Financial Research 46 (2023) 7-30. [Article]

7.          The dynamics of sovereign yields over swap rates in the Eurozone market, with Lior David-Pur, and Mosi Rosenboim, International Review of Financial Analysis (2020), 101578. [Article]

8.        To Decrease or Not to Decrease: The Impact of Zero and Negative Interest Rates on Investment Decisions, with Lior David-Pur and Mosi Rosenboim, Journal of Behavioral and Experimental Economic  87 (2020), 101571. [Article]

9.        Predicting default more accurately: to proxy or not to proxy for default?, with Neta Gilat, International Review of Finance 19 (4) (2019), 731-758. [Article]

10.    Debt composition and lax screening in the corporate bond market, with Uri Ben-Zion, Eyal Lahav and Offer Shapir, International Review of Economics and Finance 56 (2018), 178-189. [Article]

11.     Do ultimate owners follow the pecking order theory, with Offer Shapir and Rodrigo Zeidan, Quarterly Review of Economics and Finance 67 (2018), 45-50. [Article]

12.     Using Merton model: an empirical assessment of alternatives, with Zvika Afik and Ohad Arad, Journal of Empirical Finance 35 (2016), 43-67. [Article]

13.    The (un)informative value of credit rating announcements in small markets, with Zvika Afik and Itai Feinstein, Journal of Financial Stability 14 (2014), 66-80.

14.     Rating Shopping and Rating Inflation in Israel, with Inna Baklayar, International Review of Financial Analysis 33 (2014), 270-280. [Article]

15.     The determinants of CDS spread, with Offer Shapir, Dan Amiram and Uri Ben-Zion, Journal of Banking and Finance 41 (2014), 271-282. [Article]

16.     Are time preferences for a risky outcome, a riskless outcome and a commodity really different, with Tal Shavit, Offer Shapir and Uri Ben-Zion, Economics Letters 118 (2013), 512–514, [Article]

17.     Are Morningstar Ratings Global? Evidence from Israel, with Uri Ben-Zion and Offer Shapir, Journal of Wealth Management 15.3 (2012), 86-102.

18.     Good news, bad news and rating announcements: an empirical investigation, with Gil Soffer, Journal of Banking and Finance 35 (2011), 3101-3119. [Article]

19.     A reexamination of value creation through strategic alliances, with Uri Ben-Zion, Mosi Rosenboim and Hadas Shabtay, International Journal of Banking Accounting and Finance 3, Nos. 2/3 (2011), 133-154. [Article]

20.     The performance of mutual funds ratings in Israel, with Offer Shapir and Uri Ben-Zion, Economic Quarterly 57.4, (2010), 418-448.

21.    Unobserved heterogeneity and the term-structure of default, Advances in Financial Economics 12 (2007), 311-344.

Working papers

22.    Have ratings become more accurate?, with Zvika Afik, Revise and Resubmit, Journal of Banking and Finance. [Article]

23.    Trustworthiness of valuations: Bias and market perception, with Eli El-Al and Ilanit Gavious. Revise and Resubmit from the Finance Research Letters.

24.    Cash conversion cycle and bargaining power in the product market: a global perspective, with Thomas Lindner, Offer Shapir and Rodrigo Zeidan. [Article]

25.    Country financial development and the extension of trade credit by firms with market power, with Offer Shapir and Rodrigo Zeidan.

26.    National culture and working capital management, with Offer Shapir and Eva Varon.

 

Unpublished paper

1.         The quality of corporate credit ratings: an empirical analysis. [Article]

 

Teaching

Recent courses:

 

·      Financial Data Analytics – graduate – Ben-Gurion University

·      Corporate Finance A – undergraduate - Ben-Gurion University

·      Corporate Finance B – undergraduate - Ben-Gurion University

·      Corporate Finance – undergraduate – New-York University Shanghai

·      Equity Evaluation – undergraduate – Ben-Gurion University

·      Empirical Finance – graduate - Ben-Gurion University

·      Debt Instruments and Markets – undergraduate – New-York University Shanghai

·      Risk Management in Financial Institutions - New-York University Shanghai

·      Risk Management in Financial Institutions: Market Risk – undergraduate - New-York University Shanghai

·      Risk Management in Financial Institutions: Credit Risk – undergraduate - New-York University Shanghai

·      Debt Instruments – undergraduate – New-York University Shanghai

·      Fixed Income Derivatives – undergraduate – New-York University Shanghai

·      Fixed Income - graduate - Ben-Gurion University

·      Fixed Income – MBA - Tel-Aviv University

·      Options and Futures – undergraduate - Ben-Gurion University

·      Options and Futures – MBA - Tel-Aviv University

·      Seminar in Empirical Finance - undergraduate - Ben-Gurion University

 

Courses taught in the past:

 

·      Price Theory (Microeconomics) B – undergraduate - Ben-Gurion University

·      Foundations of Accounting – undergraduate – Tel-Aviv Academic College

·      Foundations of Economics – undergraduate – Tel-Aviv University

·      Foundations of Finance – undergraduate – Tel-Aviv Academic College

·      Foundations of Finance – MBA – Tel-Aviv University

·      Introduction to Economics A (Micro) – undergraduate – Tel-Aviv University

·      Introduction to Economics B (Macro) – undergraduate – Tel-Aviv University

·      Microeconomics B – undergraduate – Tel-Aviv University

·      Price Theory (Microeconomics) A – undergraduate - Ben-Gurion University

 

Research Students

Current PhD students

Orit Halevy, Eva Varon

Current MA students

Idan Ben-Ami, Or Cohen, Ben Levy, Moria Ben-Yishay, Yuval Azulay, Itay Inon (*), Liron Amor.

(*) This thesis performs analytics based on Alpha Vantage financial & economic database.

Graduated PhD students

Avigail Konikov, Eyal Lahav, Offer Shapir, Lior David-pur, Eli El-Al.

Graduated MA students

Yuri Kolotosha, Inna Baklayar, Itai Feinstein, Shachar Herbet, Amit Belsser, Elad Cohen, Ohad Arad, Itamar Benson, Yair Elizur, Gilad Mano, Blal Awad, Neta Gilat Abad Alhameed Marie, Felix Bregman, Liran Shay, Nitzan Buchnik, Michal Havdala, Shiran Vaknin, Daniel Chernyak, Nadav Atia, Shani Saba, Margalit Samuel, Idan Levin, Asaf Bar-Hod, Ilan Levy, Dana Asraf, David Deiy, Chen Reichman, Yotam Rumianek, Ziv Cohen, Yael Berkovitchú Daniel Titievskyõ