Biography

Pepa Kraft joined New York University Stern School of Business as an Assistant Professor of Accounting in July 2010. She teaches a course entitled "Financial Statement Analysis" in the M.B.A. program.

Professor Kraft's research focuses on debt contracting, credit rating agencies, off-balance sheet financing and disclosure issues in financial reporting.

Prior to joining NYU Stern, Professor Kraft held various positions at Deutsche Bank and J.P.Morgan in Corporate Equity Derivatives and Mergers & Acquisitions Advisory. She is a Chartered Financial Analyst and a member of the New York Society of Security Analysts.

Professor Kraft received her B.Sc. with honours in Accounting and Finance from the London School of Economics, her M.Sc. in Banking and Finance from HEC University of Lausanne, and her Ph.D. in Accounting from the University of Chicago Booth School of Business.

Research Interests

• Debt contracting
• Credit Rating Agencies
• Off-balance sheet financing
• Disclosure issues in financial reporting

Courses Taught

• Financial Statement Analysis

Academic Background

Ph.D., Accounting, 2010
University of Chicago Booth School of Business

M.Sc., Banking and Finance, 2002
HEC University of Lausanne

B.Sc., Accounting and Finance, 1999
London School of Economics

Awards & Appointments

Selected Publications

P. Kraft (2011)
Rating Agency’s Adjustments to GAAP Financial Statements and Their Effect on Ratings and Bond Yields

P. Kraft (2011)
Do Rating Agencies Cater? – Evidence from Rating-Based Contracts