Estonian scientist, Dr.(Econ.), Prof. of Finance at the University of Tartu. He was born (24.05.1941) in Võru district, Estonia. Received scientific degree Dr.(Econ.) from Saint-Petersburg State University of Economics and Finance (1983). Main surveys lie in applied corporate finance and investments. He composed his doctoral dissertation in the same field and has published approximately 80 publications, including original monograph in Russian. Since 2006 is Prof. Emer. of Tartu University.