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Selected Publications

Philip Bond
William Bradford
Jonathan Brogaard
Kathryn Dewenter
Ran Duchin
Thomas Gilbert
Debra Glassman
Jarrad Harford
Alan Hess
Christopher Hrdlicka
Avraham Kamara
Jonathan M. Karpoff
Jennifer Koski
Alexis León
Paul Malatesta
Monica Marin
Edward Rice
Lawrence Schall
Florian Schulz
Tracey Seslen
Andrew Siegel
Stephan Siegel
Andreas Stathopoulos
Léa Stern
Mark Westerfield
Lance Young
Yao Zeng

Philip Bond

  • "Commitment Contracts"
    Bond, P., & Sigurdsson, G., (forthcoming). Review of Economic Studies.
  • "Does Junior Inherit? Refinancing and the Blocking Power of Second Mortgages"
    Bond, P., Elul, R., Garyn-Tal, S. & Musto, D., (2017). The Review of Financial Studies, Vol 30(1), pp. 211-244.
  • "Buying High and Selling Low: Stock Repurchases and Persistent Asymmetric Information"
    Bond, P. & Zhong, H., (2016). The Review of Financial Studies, Vol 29(6), pp. 1409-1452.
  • "Government Intervention and Information Aggregation by Prices"
    Bond, P., & Goldstein, I., (2015). Journal of Finance, Vol 70(6), pp. 2777-2812.
  • "Market Run-Ups, Market Freezes, Inventories, and Leverage"
    Bond, P., & Leitner, Y., (2015). Journal of Financial Economics, Vol 115(1), pp. 155-167.
  • "Wall Street Occupations: An Equilibrium Theory of Overpaid Jobs"
    Axelson, U., & Bond, P., (2015). Journal of Finance, Vol 70(5), pp. 1949-1996.
    • Brattle Group Prize distinguished paper
  • "The Labor Market for Bankers and Regulators"
    Bond, P., & Glode, V., (2014). The Review of Financial Studies, Vol 27(9), pp. 2539-2579.
  • "The Real Effects of Financial Markets"
    Bond, P., Edmans, A., & Goldstein, I., (2012). Annual Review of Financial Economics, pp. 339-360.
  • "Information-based Trade"
    Bond, P., & Eraslan, H., (2010). Journal of Economic Theory, Vol 145(5), pp. 1675-1703.
  • "Market-based Corrective Actions"
    Bond, P., Goldstein, I., & Prescott, E., (2010). The Review of Financial Studies, Vol 23(2), pp. 781-820.
  • "Preventing Crime Waves"
    Bond, P., & Hagerty, K., (2010). American Economic Journal: Microeconomics, Vol 2(3), pp. 138-159.
  • "Strategic Voting over Strategic Proposals"
    Bond, P., & Eraslan, H., (2010). Review of Economic Studies, Vol 77(2), pp. 459-490.
  • "Multitask Principal-Agent Problems: Optimal Contracts, Fragility, and Effort Misallocation"
    Bond, P., & Gomes, A., (2009). Journal of Economic Theory, Vol 144(1), pp. 175-211.
  • "Predatory Mortgage Lending"
    Bond, P., Musto, D., & Yilmaz, B., (2009). Journal of Financial Economics, Vol 94(3), pp. 412-427.
  • "Bank and Nonbank Financial Intermediation"
    Bond, P., (2004). The Journal of Finance, Vol 59(6), pp. 2489-2529.
  • "Regulating Exclusion from Financial Markets"
    Bond, P., & Krishnamurthy, A., (2004). Review of Economic Studies, Vol 71(3), pp. 681-707.

William Bradford

  • "Are Minority-Owned Businesses Under-served by the Private Equity Market? Evidence from the Venture-Capital Industry"
    Bradford, W., with Bates, T. & Jackson, W.E, (forthcoming). Small Business Economics.
  • "The ‘Myth’ that Black Entrepreneurship Can Reduce the Gap in Wealth between Black and White Families"
    Bradford, W., (2014). Economic Development Quarterly, pp. 254-354.
  • "Does Venture Capitalist Activism Improve Investment Performance?"
    Bates, T., Bradford, W., & Jackson, W. E., (2012). Journal of Business Venturing, Vol 27(3), pp. 342-354.
  • "Venture Capital Investment in Minority Business"
    Bates, T., & Bradford, W., (2008). Journal of Money, Credit and Banking, Vol 40(2-3), pp. 489-504.
  • "The Wealth Dynamics of Entrepreneurship for Black and White Families in the U.S."
    Bradford, W., (2003). Review of Income and Wealth, Vol 49(1), pp. 89-116.
  • "The Issue Decision of Manager-Owners Under Information Asymmetry"
    Bradford, W., (1987). Journal of Finance, Vol 42(5), pp. 1245-1260.
  • "Financing Black Economic Development"
    Bates, T., & Bradford, W., (1979). Academic Press.

Jonathan Brogaard

  • "High Frequency Trading and Extreme Price Movements"
    Brogaard, J., Carrion, A., Moyaert, T., Riordan, R., Shkilko, A., & Sokolov, K., (forthcoming). Journal of Financial Economics.
  • "Institutions and Deposit Insurance: Empirical Evidence"
    Brogaard, J., Dewenter, K., & Hess, A., (forthcoming). Journal of Financial Services Research.
  • "Stock Liquidity and Default Risk"
    Brogaard, J., Li, D., & Xia, Y., (forthcoming). Journal of Financial Economics.
  • "High Frequency Trading and the 2008 Short Sale Ban"
    Brogaard, J., Hendershott, T., & Riordan, R., (2017). Journal of Financial Economics, Vol 124(1), pp. 22-42.
  • "The Asset Pricing Implications of Government Economic Policy Uncertainty"
    Brogaard, J., & Detzel, A., (2015). Management Science, Vol 61(1), pp. 3-18.
  • "Trading Fast and Slow: Colocation and Liquidity"
    Brogaard, J., Hagerstrőmer, B., Norden, L., & Riordan, R., (2015). Review of Financial Studies, Vol 28(12), pp. 3407-3443.
  • "High-Frequency Trading and Price Discovery"
    Brogaard, J., Hendershott, T., & Riordan, R., (2014). The Review of Financial Studies, Vol 27(8), pp. 2267-2353.
  • "High-Frequency Trading and the Execution Costs of Institutional Investors"
    Brogaard, J., Hendershott, T., Hunt, S., & Ysusi, C., (2014). Financial Review, Vol 49(2), pp. 345-369.
  • "Networks and Productivity: Causal Evidence from Editor Rotations"
    Brogaard, J., Engelberg, J., & Parsons, C., (2014). Journal of Financial Economics, Vol 111(1), pp. 251-270.

Kathryn Dewenter

  • "Institutions and Deposit Insurance: Empirical Evidence"
    Brogaard, J., Dewenter, K., & Hess, A., (forthcoming). Journal of Financial Services Research.
  • "Who Wins When Exchanges Compete? Evidence from Competition after Euro Conversion"
    Dewenter, K., Han, X., & Koski, J., (forthcoming). Review of Finance.
  • "Anatomy of a Regulatory Race to the Top: Changes in Delisting Rules at Korea’s Two Stock Exchanges"
    Dewenter, K., Kim, C., & Novaes, W., (2010). Journal of Corporate Finance, Vol 16(4), pp. 456-468.
  • "Firm Values and Sovereign Wealth Fund Investments"
    Dewenter, K., Han, X., & Malatesta, P., (2010). Journal of Financial Economics, Vol 98(2), pp. 256-278.
  • "Can Event Study Methods Solve the Currency Exposure Puzzle?"
    Dewenter, K., Higgins, R., & Simin, T., (2005). Pacific Basin Finance Journal, pp. 119-144.
  • "The Risk-Sharing Role of Japanese Keiretsu Business Groups: Evidence from Restructuring in the 1990’s"
    Dewenter, K., Higgins, R., & Simin, T., (2003). Japan and the World Economy, Vol 15(3), pp. 261-274.
  • "Investment Bank Reputation and Relaxed Listing Requirements: Evidence from Infrastructure Firm IPOs in Hong Kong"
    Dewenter, K., & Field, L., (2001). Pacific Basin Finance Journal, Vol 9(2), pp. 101-117.
  • "State-Owned and Privately-Owned Firms: An Empirical Analysis of Profitability, Leverage, and Labor Intensity"
    Dewenter, K., & Malatesta, P., (2001). The American Economic Review, Vol 91(1), pp. 320-334.
  • "Visibility versus Complexity in Business Groups: Evidence from Japanese Keiretsu Firms"
    Dewenter, K., Novaes, W., & Petway, R., (2001). The Journal of Business, Vol 74(1), pp. 79-100.
  • "Does Stock Market Development Stimulate Savings?: Evidence from Emerging Stock Markets"
    Bonser-Neal, C., & Dewenter, K., (1999). Contemporary Economic Policy, Vol 17(3), pp. 370-380.
  • "An International Comparison of Banks’ Equity Returns"
    Dewenter, K., & Hess, A., (1998). The Journal of Money, Credit and Banking, Vol 30(3: Part 2), pp. 472-492.
  • "Dividends, Asymmetric Information, and Agency Conflicts: Evidence from a Comparison of the Dividend Policies of Japanese and U.S. Firms"
    Dewenter, K., & Warther, V., (1998). Journal of Finance, Vol 53(3), pp. 879-904.
  • "Public Offerings of State-Owned and Privately-Owned Enterprises: An International Comparison"
    Dewenter, K., & Malatesta, P., (1997). Journal of Finance, Vol 52(4), pp. 1659-1679.
  • "Are Intra-Industry Investment Patterns Consistent with Cost Disadvantages to Cross Border Investing? Evidence from the U.S. Chemical Industry"
    Dewenter, K., (1995). Journal of International Business Studies, Vol 26(4), pp. 843-859.
  • "Do Exchange Rate Changes Drive Foreign Direct Investment"
    Dewenter, K., (1995). Journal of Business, Vol 68(3), pp. 405-433.
  • "Does the Market React Differently to Domestic and Foreign Takeover Announcements? Evidence from the U.S. Chemical and Retail Industries"
    Dewenter, K., (1995). Journal of Financial Economics, Vol 37(3), pp. 421-441.

Ran Duchin

  • "Precautionary Savings with Risky Assets: When Cash is Not Cash"
    Duchin, R., Gilbert, T., Harford, J., & Hrdlicka, C., (2017). Journal of Finance, Vol 72(2), pp. 793-852.
  • "Spillovers Inside Conglomerates: Incentives and Capital"
    Duchin, R., Goldberg, A., & Sosyura, D., (2017). The Review of Financial Studies, Vol 30(5), pp. 1696-1743.
  • "Clouded Judgment: The Role of Sentiment in Credit Origination"
    Cortés, K., Duchin, R., & Sosyura, D., (2016). Journal of Financial Economics, Vol 121(2), pp. 392-413.
  • "Looking in the Rear View Mirror: The Effect of Managers’ Professional Experience on Corporate Financial Policy"
    Dittmar, A., & Duchin, R., (2016). Review of Financial Studies, Vol 29(3), pp. 565-602.
  • "Cash Flow Hedging and Liquidity Choices"
    Disatnik, D., Duchin, R., & Schmidt, B., (2014). Review of Finance, Vol 18(2), pp. 715-748.
  • "Peer Effects in Risk Aversion and Trust"
    Ahern, K., Duchin, R., & Shumway, T., (2014). The Review of Financial Studies, Vol 27(11), pp. 3213-3240.
  • "Safer Ratios, Riskier Portfolios: Banks’ Response to Government Aid"
    Duchin, R., & Sosyura, D., (2014). Journal of Financial Economics, Vol 113(1), pp. 1-28.
  • "Divisional Managers and Internal Capital Markets"
    Duchin, R., & Sosyura, D., (2013). Journal of Finance, Vol 68(2), pp. 387-429.
  • "Riding the Merger Wave: Uncertainty, Reduced Monitoring, and Bad Acquisitions"
    Duchin, R., & Schmidt, B., (2013). Journal of Financial Economics, Vol 107(1), pp. 69-88.
  • "The Politics of Government Investment"
    Duchin, R., & Sosyura, D., (2012). Journal of Financial Economics, Vol 106(1), pp. 24-48.
  • "Cash Holdings and Corporate Diversification"
    Duchin, R., (2010). Journal of Finance, Vol 65(3), pp. 955-992.
  • "Costly External Finance, Corporate Investment, and the Subprime Mortgage Credit Crisis"
    Duchin, R., Ozbas, O., & Sensoy, B., (2010). Journal of Financial Economics, Vol 97(3), pp. 418-435.
  • "When are Outside Directors Effective"
    Duchin, R., Matsusaka, J., & Ozbas, O., (2010). Journal of Financial Economics, pp. 195-214.

Thomas Gilbert

  • "Is the intrinsic value of macroeconomic news announcements related to their asset price impact?"
    Gilbert, T., Scotti, C., Strasser, G. & Vega, S., (forthcoming). Journal of Monetary Economics.
  • "The Structure of Information Release and the Factor Structure of Returns"
    Gilbert, T., Hrdlicka, C., & Kamara, A., (forthcoming). Journal of Financial Economics.
  • "Precautionary Savings with Risky Assets: When Cash is Not Cash"
    Duchin, R., Gilbert, T., Harford, J., & Hrdlicka, C., (2017). Journal of Finance, Vol 72(2), pp. 793-852.
  • "Why Are University Endowments Large and Risky?"
    Gilbert, T., & Hrdlicka, C., (2015). Review of Financial Studies, Vol 28(9), pp. 2643-2686.
  • "Daily Data is Bad for Beta: Opacity and Frequency-Dependent Betas"
    Gilbert, T., Hrdlicka, C., Kalodimos, J., & Siegel, S., (2014). Review of Asset Pricing Studies, Vol 4(1), pp. 78-117.
  • "Investor Inattention and the Market Impact of Summary Statistics"
    Gilbert, T., Kogan, S., Lochstoer, L., & Ozyildirim, A., (2012). Management Science, Vol 58(2), pp. 336-350.
  • "Information Aggregation Around Macroeconomic Announcements: Revisions Matter"
    Gilbert, T., (2011). Journal of Financial Economics, Vol 101(1), pp. 114-131.
  • "Endogenous versus exogenous shocks in complex networks: An empirical test using book sale rankings"
    Gilbert, T., Sornette, D., Deschatres, F., & Ageon, Y., (2004). Physical Review Letters, pp. 228701.

Debra Glassman

  • "Global Social Entrepreneurship Competitions: Incubators for Innovations in Global Health?"
    Huster, K., Petrillo, C., O'Mally, G., Glassman, D., Rush, J., & Wasserheit, J., (2017). Journal of Management Education, Vol 41(2), pp. 249-271.
  • "What Causes Home Asset Bias and How Should it be Measured"
    Glassman, D., & Riddick, L., (2001). Journal of Empirical Finance, Vol 8(1), pp. 35-54.
  • "Conditioning Manager Alphas of Economic Information: Another Look at the Persistence of Performance"
    Christopherson, J. A., Ferson, W. E., & Glassman, D., (1998). Review of Financial Studies, Vol 11(1), pp. 111-142.
  • "Off the Mark: Lessons for Exchange Rate Modelling"
    Boothe, P., & Glassman, D., (1987). Oxford Economic Papers, Vol 39(3), pp. 443-457.

Jarrad Harford

  • "CEO Turnover-Performance Sensitivity in Private Firms"
    Gao, H., Harford, J., & Li, K., (2017). Journal of Financial and Quantitative Analysis, Vol 52(2), pp. 583-611.
  • "Foreign Cash: Taxes, Internal Capital Markets, and Agency Problems"
    Harford, J., Wang, C., & Zhang, K., (2017). Review of Financial Studies, Vol 30(5), pp. 1490-1538.
  • "Precautionary Savings with Risky Assets: When Cash is Not Cash"
    Duchin, R., Gilbert, T., Harford, J., & Hrdlicka, C., (2017). Journal of Finance, Vol 72(2), pp. 793-852.
  • "The Real Effects of Uncertainty on Merger Activity"
    Harford, J., Bhagwat, V. & Dam, R., (2016). Review of Financial Studies, Vol 29(11), pp. 3000-3034.
  • "Bonus-Driven Repurchases"
    Cheng, Y., Harford, J., & Zhang, T., (2015). Journal of Financial and Quantitative Analysis, Vol 50(3), pp. 447-475.
  • "Do Analysts Matter for Governance? Evidence from Natural Experiments"
    Chen, T., Harford, J., & Lin, C., (2015). Journal of Financial Economics, Vol 115(2), pp. 383-410.
  • "Motivated Monitors: The Importance of Institutional Investors Portfolio Weights"
    Fich, E., Harford, J., & Tran, R. A., (2015). Journal of Financial Economics, Vol 118(1), pp. 21-48.
  • "Bond Market Access and Investment"
    Harford, J., & Uysal, V., (2014). Journal of Financial Economics, Vol 112(2), pp. 147-163.
  • "Do Private Equity Returns Result from Wealth Transfers and Short-Termism? Evidence from a Comprehensive Sample of Large Buyouts"
    Harford, J., & Kolasinski, A., (2014). Management Science, Vol 60(4), pp. 888-902.
  • "Financial Flexibility, Risk Management, and Payout Choice"
    Adams Bonaimé, A., Harford, J., & Watson Hankins, K., (2014). The Review of Financial Studies, Vol 27(4), pp. 1074-1101.
  • "Refinancing Risk and Cash Holdings"
    Harford, J., Klasa, S., & Maxwell, W., (2014). Journal of Finance, Vol 69(3), pp. 975-1012.
  • "The Importance of Industry Links in Merger Waves"
    Ahern, K., & Harford, J., (2014). Journal of Finance, Vol 69(2), pp. 527-576.
  • "Determinants of Corporate Cash Policy: Insights from Private Firms"
    Gao, H., Harford, J., & Li, K., (2013). Journal of Financial Economics, Vol 109(3), pp. 623-639.
  • "Does the Director Labor Market Offer Ex Post Settling-up for CEOs? The Case of Acquisitions"
    Harford, J., & Schonlau, R., (2013). Journal of Financial Economics, Vol 110(1), pp. 18-36.
  • "CEO Pay Cuts and Forced Turnover: Their Causes and Consequences"
    Gao, H., Harford, J., & Li, K., (2012). Journal of Corporate Finance, Vol 18(2), pp. 291-310.
  • "The Sources of Value Destruction in Acquisitions by Entrenched Managers"
    Harford, J., Humphery, M., & Powell, R., (2012). Journal of Financial Economics, Vol 106(2), pp. 247-261.
  • "Institutional Cross-holdings and their Effect on Acquisition Decisions"
    Harford, J., Jenter, D., & Li, K., (2011). Journal of Financial Economics, Vol 99(1), pp. 27-39.
  • "Do Firms Have Leverage Targets? Evidence from Acquisitions"
    Harford, J., Klasa S., & Walcott, N., (2009). Journal of Financial Economics, Vol 93(1), pp. 1-14.
  • "Corporate Governance and Firm Cash Holdings in the U.S."
    Harford, J., Mansi, S., & Maxwell, W., (2008). Journal of Financial Economics, Vol 87(3), pp. 535-555.
  • "Information Asymmetry, Information Dispersion, and the Effect of Regulation FD on the Cost of Capital"
    Duarte, J., Han, X., Harford, J., & Young, L., (2008). Journal of Financial Economics, Vol 87(1), pp. 24-44.
  • "Decoupling CEO Wealth and Firm Performance: The Case of Acquiring CEOs"
    Harford, J., & Li, K., (2007). Journal of Finance, Vol 62(2), pp. 917-949.
  • "Monitoring: Which Institutions Matter?"
    Harford, J., (2007). Journal of Financial Economics, Vol 86(2), pp. 279-305.
  • "Correlated Order Flow: Pervasiveness, Sources, and Pricing Effects"
    Harford, J., & Kaul, A., (2005). Journal of Financial and Quantitative Analysis, Vol 40(1), pp. 29-55.
  • "What Drives Merger Waves"
    Harford, J., (2005). Journal of Financial Economics, Vol 77(3), pp. 529-560.
  • "Takeover Bids and Target Directors’ Incentives: Retention, Experience, and Settling-up"
    Harford, J., (2003). Journal of Financial Economics, Vol 69(1), pp. 51-83.
  • "Managerial Opportunism? Evidence from Directors’ and Officers’ Insurance Purchases"
    Chalmers, J., Dann, L., Harford, J., (2002). Journal of Finance, Vol 57(2), pp. 609-636.
  • "The Cash Flow Permanence and Information Content of Dividend Increases vs. Repurchases"
    Guay, W., & Harford, J., (2000). Journal of Financial Economics, Vol 57(3), pp. 385-415.
  • "Corporate Cash Reserves and Acquisitions"
    Harford, J., (1999). Journal of Finance, Vol 54(6), pp. 1969-1997.

Alan Hess

  • "Institutions and Deposit Insurance: Empirical Evidence"
    Brogaard, J., Dewenter, K., & Hess, A., (forthcoming). Journal of Financial Services Research.
  • "An International Comparison of Banks’ Equity Returns"
    Dewenter, K., & Hess, A., (1998). The Journal of Money, Credit and Banking, Vol 30(3: Part 2), pp. 472-492.

Christopher Hrdlicka

  • "The Structure of Information Release and the Factor Structure of Returns"
    Gilbert, T., Hrdlicka, C., & Kamara, A., (forthcoming). Journal of Financial Economics.
  • "Precautionary Savings with Risky Assets: When Cash is Not Cash"
    Duchin, R., Gilbert, T., Harford, J., & Hrdlicka, C., (2017). Journal of Finance, Vol 72(2), pp. 793-852.
  • "Why Are University Endowments Large and Risky?"
    Gilbert, T., & Hrdlicka, C., (2015). Review of Financial Studies, Vol 28(9), pp. 2643-2686.
  • "Daily Data is Bad for Beta: Opacity and Frequency-Dependent Betas"
    Gilbert, T., Hrdlicka, C., Kalodimos, J., & Siegel, S., (2014). Review of Asset Pricing Studies, Vol 4(1), pp. 78-117.

Avraham Kamara

  • "The Structure of Information Release and the Factor Structure of Returns"
    Gilbert, T., Hrdlicka, C., & Kamara, A., (forthcoming). Journal of Financial Economics.
  • "Horizon Pricing"
    Kamara, A., Korajczyk, R., Lou, X., & Sadka, R., (2017). Journal of Financial and Quantitative Analysis, Vol 51(6), pp. 1769-1793.
  • "The Effects of Randomizing the Opening Time on the Performance of a Stock Market under Stress"
    Hauser, S., Kamara, A., & Shurki, I., (2012). Journal of Financial Markets, Vol 15(4), pp. 392-415.
  • "Has the U.S. Stock Market Become More Vulnerable Over Time"
    Kamara, A., Lou, X., & Sadka, R., (2010). Financial Analysts Journal, Vol 66(1), pp. 41-52.
  • "The Divergence of Liquidity Commonality in the Cross-section of Stocks"
    Kamara, A., Lou, X., & Sadka, R., (2008). Journal of Financial Economics, Vol 89(3), pp. 444-466.
  • "The Nontradability Premium of Derivatives Contracts"
    Eldor, R., Hauser , S., Kahn, M., & Kamara, A., (2006). Journal of Business, Vol 79(4), pp. 2067-2097.
  • "Conditional Time-varying Interest Rate Risk Premium: Evidence from the Treasury Bill Futures Market"
    Hess, A., & Kamara, A., (2005). Journal of Money, Credit and Banking, Vol 37(4), pp. 679-698.
  • "Volatility, Autocorrelations, and Trading Activity After Stock Splits"
    Kamara, A., & Koski, J., (2001). Journal of Financial Markets, Vol 4(2), pp. 163-184.
  • "New Evidence on the Monday Seasonal in Stock Returns"
    Kamara, A., (1997). Journal of Business, Vol 70(1), pp. 63-84.
  • "The Relation between Default-free Interest Rates and Economic Growth is Stronger than you Think"
    Kamara, A., (1997). Journal of Finance, Vol 52(4), pp. 1681-1694.
  • "Daily and Intradaily Tests of European Put-Call Parity"
    Kamara, A., & Miller, T., (1995). Journal of Financial and Quantitative Analysis, Vol 30(4), pp. 519-539.

Jonathan M. Karpoff

  • "Do Takeover Defense Indices Measure Takeover Deterrence?"
    Karpoff, J. M., Schonlau, R., & Wehrly, E., (forthcoming). The Review of Financial Studies.
  • "Institutional and Legal Context in Nagtural Experiments: The Case of State Antitakeover Laws"
    Karpoff, J. M., & Wittry, M., (forthcoming). The Journal of Finance.
  • "Proxies and Databases in Financial Misconduct Research"
    Karpoff, J., Koester, A., Lee, D. S., & Martin, G. S., (forthcoming). The Accounting Review.
  • "Thirty Years of Shareholder Activism: A Survey of Empirical Research"
    Denes, R., Karpoff, J. M., & McWilliams, V. B., (forthcoming). Journal of Corporate Finance.
  • "Short Selling and Earnings Management: A Controlled Experiment"
    Fang, V., Huang, A., & Karpoff, J. M., (2016). Journal of Finance, Vol 71(3), pp. 1251-1294.
  • "The Bonding Hypothesis of Takeover Defenses"
    Johnson, W., Karpoff, J. M., & Yi, S., (2015). Journal of Financial Economics, Vol 117(2), pp. 307-332.
  • "Evidence of Optimal Contracting: Lockup Agreements in Seasoned Equity Offerings"
    Karpoff, J. M., Lee, G., & Masulis, R., (2013). Journal of Financial Economics, Vol 110(3), pp. 607-626.
  • "Internal Corporate Governance, CEO Turnover, and Earnings Management"
    Hazarika, S., Karpoff, J. M., & Nahata, R., (2012). Journal of Financial Economics, Vol 104(1), pp. 44-69.
  • "Short Sellers and Financial Misconduct"
    Karpoff, J. M., & Lou, X., (2010). Journal of Finance, Vol 65(5), pp. 1879-1913.
  • "The Consequences to Managers for Financial Misrepresentation"
    Karpoff, J. M., Lee, S. D., & Martin, G. S., (2008). Journal of Financial Economics, Vol 88(2), pp. 193-215.
  • "The Cost to Firms of Cooking the Books"
    Karpoff, J. M., Lee, S. D., & Martin, G. S., (2008). Journal of Financial and Quantitative Analysis, Vol 43(3), pp. 581-612.
  • "The Determinants of Corporate Board Size and Composition: Empirical Evidence"
    Boone, A. L., Field, L. C., Karpoff, J. M., & Raheja, C. G., (2007). Journal of Financial Economics, Vol 85(1), pp. 66-101.
  • "Corporate Governance and Shareholder Initiatives: Empirical Evidence"
    Karpoff, J. M., Malatesta, P., & Walkling, R., (1996). Journal of Financial Economics, Vol 98(2), pp. 256-278.

Jennifer Koski

  • "Who Wins When Exchanges Compete? Evidence from Competition after Euro Conversion"
    Dewenter, K., Han, X., & Koski, J., (forthcoming). Review of Finance.
  • "Ex-Dividend Profitability and Institutional Trading Skill"
    Henry, T. and Koski, J., (2017). Journal of Finance, Vol 72(1), pp. 461-494.
  • "Short Selling Around Seasoned Equity Offerings"
    Henry, T., & Koski, J., (2010). Review of Financial Studies, Vol 23(12), pp. 4389-4418.
  • "Does Volatility Decrease after Reverse Stock Splits?"
    Koski, J., (2007). Journal of Financial Research, Vol 30(2), pp. 217-235.
  • "Information Flow and Liquidity Around Anticipated and Unanticipated Dividend Announcements"
    Graham, J., Koski, J., & Loewenstein, U., (2006). Journal of Business, Vol 79(5), pp. 2301-2336.
  • "Volatility, Autocorrelations, and Trading Activity After Stock Splits"
    Kamara, A., & Koski, J., (2001). Journal of Financial Markets, Vol 4(2), pp. 163-184.
  • "Prices, Liquidity, and The Information Content of Trades"
    Koski, J., & Michaely, R., (2000). Review of Financial Studies, Vol 13(3), pp. 659-696.
  • "How are Derivatives Used? Evidence from the Mutual Fund Industry"
    Koski, J., & Pontiff, J., (1999). Journal of Finance, Vol 54(2), pp. 791-816.
  • "Measurement Effects and the Variance of Returns After Stock Splits and Stock Dividends"
    Koski, J., (1998). Review of Financial Studies, Vol 11(1), pp. 143-162.
  • "Who Trades Around the Ex-Dividend Day? Evidence from NYSE Audit File Data"
    Koski, J., & Scruggs, J., (1998). Financial Management, Vol 27(1), pp. 58-72.
  • "A Microstructure Analysis of Ex-Dividend Stock Price Behavior Before and After the 1984 and 1986 Tax Reform Acts"
    Koski, J., (1996). Journal of Business, Vol 69(3), pp. 313-338.

Alexis León

  • "The Effect of Household Appliances on Female Labor Force Participation: Evidence from Microdata"
    Coen-Pirani, D. and Lugauer, S., (2010). Labour Economics, Vol 17(3), pp. 503–513.

Paul Malatesta

  • "Corporate Ownership Structure and the Choice between Bank Debt and Public Debt"
    Lin, C., Malatesta, P., & Xuan, Y., (2013). Journal of Financial Economics, Vol 109(2), pp. 517-534.
  • "Corporate Investment, Government Control, and Financing Channels: Evidence from China’s Listed Companies"
    Firth, M., Malatesta, P., Xin, Q., & Xu, L., (2012). Journal of Corporate Finance, Vol 18(3), pp. 433-450.
  • "Corporate Ownership Structure and Bank Loan Syndicate Structure"
    Lin, C., Malatesta, P., & Xuan, Y., (2012). Journal of Financial Economics, Vol 104(1), pp. 1-22.
  • "Firm Values and Sovereign Wealth Fund Investments"
    Dewenter, K., Han, X., & Malatesta, P., (2010). Journal of Financial Economics, Vol 98(2), pp. 256-278.
  • "Managerial Succession and Firm Performance"
    Huson, M., Malatesta, P., & Parrino, R., (2004). Journal of Financial Economics, Vol 74(2), pp. 237-275.
  • "State-Owned and Privately-Owned Firms: An Empirical Analysis of Profitability, Leverage, and Labor Intensity"
    Dewenter, K., & Malatesta, P., (2001). The American Economic Review, Vol 91(1), pp. 320-334.
  • "Public Offerings of State-Owned and Privately-Owned Enterprises: An International Comparison"
    Dewenter, K., & Malatesta, P., (1997). Journal of Finance, Vol 52(4), pp. 1659-1679.
  • "Corporate Governance and Shareholder Initiatives: Empirical Evidence"
    Karpoff, J. M., Malatesta, P., & Walkling, R., (1996). Journal of Financial Economics, Vol 98(2), pp. 256-278.
  • "Earnings Management, Stock Issues, and Shareholder Lawsuits"
    DuCharme, L.L., Malatesta, P.H., and Sefcik, S., (2004). Journal of Financial Economics, Vol 71(1), pp. 27-49.
  • "Earnings Management: IPO Valuation and Subsequent Performance"
    DuCharme, L.L., Malatesta, P.H., and Sefcik, S., (2001). Journal of Accounting, Auditing, and Finance, Vol 16(4), pp. 369-396.

Monica Marin

  • "Can Financial Risk Management Help Prevent Bankruptcy?"
    Marin, M., (2013). Journal of Finance and Accountancy, pp. 18.
  • "Financial Distress Risk and the Managing of Foreign Currency Risk Exposure"
    Boyer, M. M., & Marin, M., (2013). Quarterly Journal of Finance, Vol 3(1), pp. 21-57.

Edward Rice

  • "Contractual Revisions in Compensation: Evidence from Merger Bonuses to Target CEOs"
    Fich, E., Rice, E., & Tran, A., (2016). Journal of Accounting and Economics, Vol 61(2-3), pp. 338-368.
  • "Organizational Form, Share Transferability, and Firm Performance: Evidence from the ANCSA Corporations"
    Karpoff, J. M., & Rice, E., (1989). Journal of Financial Economics, Vol 21(4), pp. 69-105.
  • "Experimental Support for the Economic Theory of Risk Averse Behavior"
    Allen, R., Harstad, R., & Rice, E., (1986-87). The Social Science Review, Vol VII(2).
  • "Going Private: Minority Freezeouts and Stockholder Wealth"
    DeAngelo, H., DeAngelo, L., & Rice, E., (1984). Journal of Law and Economics, Vol 27(2), pp. 67-401.
  • "Going Private: The Effects of a Change in Corporate Ownership Structure"
    DeAngelo, H., DeAngelo, L., & Rice, E., (1984). Midland Corporate Finance Journal.
  • "The Theory of Price-changing and Monopoly Power"
    Rice, E., & Simon, J., (1983-84). Journal of Post-Keynesian Economics, Vol 6(2), pp. 198-213.
  • "Antitakeover Charter Amendments and Stockholder Wealth"
    DeAngelo, H., & Rice, E., (1983). Journal of Financial Economics, Vol 11(1-4), pp. 329-359.
  • "Rent-seeking and Welfare Loss"
    Rice, E., & Ulen, T., (1981). Research in Law and Economics, pp. 806-862.
  • "Measuring Portfolio Performance and the Empirical Content of Asset Pricing Models"
    Mayers, D., & Rice, E., (1979). Journal of Financial Economics, Vol 7(1), pp. 3-28.
  • "Discussion—Finance and Industrial Organization"
    Rice, E., & Weston, J., (1976). Journal of Finance, Vol 31(2), pp. 743-747.

Lawrence Schall

  • "Debt Callability and Investment Incentives"
    Siegel, A. & Schall, L., (2016). Journal of Corporate Finance, pp. 315-330.

Florian Schulz

  • "On the Timing and Pricing of Dividends: Comment"
    Schulz, F., (2016). American Economic Review, Vol 106(10), pp. 3185-3223.
  • "The Private Returns to Public Office"
    Fisman, R., Schulz, F., & Vig, V., (2014). Journal of Political Economy, Vol 122(4), pp. 806-862.

Tracey Seslen

  • "Do House Price Levels Anticipate Subsequent Price Changes within Metropolitan Areas?"
    Lee, N., Seslen, T., & Wheaton, W., (2015). Real Estate Economics, Vol 43(3), pp. 782-806.
  • "Contemporaneous Loan Stress and Default Risk in the Commercial Mortgage-backed Securities Pool: How ‘Ruthless’ is Default?"
    Seslen, T., & Wheaton, W., (2010). Real Estate Economics, Vol 38(2), pp. 225-255.
  • "Neighborhood Wealth Distributions"
    Ioannides, Y., & Seslen, T., (2002). Economics Letters, Vol 76(3), pp. 357-367.

Andrew Siegel

  • "Debt Callability and Investment Incentives"
    Siegel, A. & Schall, L., (2016). Journal of Corporate Finance, pp. 315-330.
  • "Practical Business Statistics"
    Siegel, A., (2016).
    • Reprint, originally published 2012
  • "Price-Admissibility Conditions for Arbitrage-Free Linear Price Function Models for the Term Structure of Interest Rates"
    Siegel, A., (2016). Mathematical Finance, Vol 26(4), pp. 919-938.
  • "How Much Error is in the Tracking Error? The Impact of Estimation Risk on Fund Tracking Error"
    Siegel, A., & Woodgate, A., (2015). Journal of Portfolio Management, Vol 41(2), pp. 84-99.
  • "Performance of Portfolios Optimized with Estimation Error"
    Siegel, A., & Woodgate, A., (2009). Management Science, Vol 53(6), pp. 1005-1015.
  • "Testing Portfolio Efficiency with Conditioning Information"
    Ferson, W., & Siegel, A., (2009). The Review of Financial Studies, Vol 22(7), pp. 2735-2758.
  • "A Data Integration Methodology for Systems Biology"
    Atauri, P., Aitchison, Bolouri, H., J., Hood, L., Hwang, D., Leslie, D., Rust, A., Ramsey, S., Siegel, A., Smith, J., & Weston, A., (2005). Proceedings of the National Academy of Sciences of the United States of America, Vol 102(48), pp. 17296–17301.
  • "Stochastic Discount Factor Bounds with Conditioning Information"
    Ferson, W., & Siegel, A., (2003). The Review of Financial Studies, Vol 16(2), pp. 567-595.
  • "A Three-Stage Clinical Trial Design for Rare Disorders"
    Berger, V., Feldman, B., Honkanen, V., Siegel, A., Siegel, J., & Szalai, J., (2001). Statistics in Medicine, Vol 20(20), pp. 3009-3021.
  • "The Efficient Use of Conditioning Information in Portfolios"
    Ferson, W., & Siegel, A., (2001). The Journal of Finance, Vol 56(3), pp. 967-982.
  • "Diversification in the Presence of Taxes"
    Appeadu, C., Narasimhan, P., Siegel, A., & Stein, D., (2000). The Journal of Portfolio Management, Vol 27(1), pp. 61-71.

Stephan Siegel

  • "Corporate Risk Culture"
    Pan, Y., Siegel, S. & Wang, T., (forthcoming). Journal of Financial and Quantitative Analysis.
  • "Political Risk and International Valuation"
    Bekaert, G., Harvey, C., Lundblad, C., & Siegel, S., (2016). Journal of Corporate Finance, pp. 1-23.
  • "The Fetal Origins Hypothesis in Finance: Prenatal Environment, the Gender Gap, and Investor Behavior"
    Cronqvist, H., Previtero, A., Siegel, S., & White, R., (2016). Review of Financial Studies, Vol 93(3), pp. 739-786.
  • "The Origins of Savings Behavior"
    Cronqvist, H., & Siegel, S., (2015). Journal of Political Economy, Vol 123(1), pp. 123-169.
  • "Value Versus Growth Investing: Why Do Different Investors have Different Styles"
    Cronqvist, H., Siegel, S., & Yu, F., (2015). Journal of Financial Economics, Vol 117(2), pp. 333-349.
  • "Daily Data is Bad for Beta: Opacity and Frequency-Dependent Betas"
    Gilbert, T., Hrdlicka, C., Kalodimos, J., & Siegel, S., (2014). Review of Asset Pricing Studies, Vol 4(1), pp. 78-117.
  • "Genetics, Homeownership, and Home Location Choice"
    Cronqvist, H., Muenkel, F., & Siegel, S., (2014). Journal of Real Estate Finance and Economics, Vol 48(1), pp. 79-111.
  • "Political Risk Spreads"
    Bekaert, G., Harvey, C., Lundblad, C., & Siegel, S., (2014). Journal of International Business Studies, Vol 45(4), pp. 471-493.
  • "The Genetics of Investment Biases"
    Cronqvist, H., & Siegel, S., (2014). Journal of Financial Economics, Vol 113(2), pp. 215-234.
  • "The Impact of the Sarbanes-Oxley Act on Shareholders and Managers of Foreign Firms"
    Duarte, J., Kong, K., Siegel, S., & Young, L., (2014). Review of Finance, Vol 18(1), pp. 417-455.
  • "The European Union, the Euro, and Equity Market Integration"
    Bekaert, G., Harvey, C., Lundblad, C., & Siegel, S., (2013). Journal of Financial Economics, Vol 109(3), pp. 583-603.
  • "Trust and Credit: The Role of Appearance in Peer-to-Peer Lending"
    Duarte, J., Siegel, S., & Young, L., (2012). The Review of Financial Studies, Vol 25(8), pp. 2455-2484.
  • "What Segments Equity Markets?"
    Bekaert, G., Harvey, C., Lundblad, C., & Siegel, S., (2011). The Review of Financial Studies, Vol 24(12), pp. 3841-3890.

Andreas Stathopoulos

  • "International Correlation Risk"
    Mueller, P., Stathopoulos, A., & Vedolin, A., (forthcoming). Journal of Financial Economics.
  • "Asset Prices and Risk Sharing in Open Economies"
    Stathopoulos, A., (2017). The Review of Financial Studies, Vol 30(2), pp. 363-415.

Léa Stern

  • "D&O Insurance and IPO Performance: What Can we Learn from Insurers?"
    Stern, L., & Boyer, M.M., (2014). Journal of Financial Intermediation, pp. 504-540.
  • "Pay for Performance from Future Fund Flows: The Case of Private Equity"
    Stern, L., Chung, J., Sensoy, B. & Weisbach, M., (2012). Review of Financial Studies, pp. 3259-3304.
  • "Is Corporate Governance Risk Valued? Evidence from Directors and Officers Liability Insurance"
    Stern, L., & Boyer, M.M., (2012). Journal of Corporate Finance, pp. 349-372.
  • "Pay for Performance from Future Fund Flows: The Case of Private Equity"
    Stern, L., Chung, J.W., Sensoy, B.A., & Weisbach, M.S.. Review of Financial Studies, pp. 3259-3304.

Mark Westerfield

  • "Market Selection"
    Kogan, L., Ross, S., Wang, J. & Westerfield, M., (2017). Journal of Economic Theory, pp. 209-236.
  • "Looking for Someone to Blame: Delegation, Cognitive Dissonance, and the Disposition Effect"
    Chang, T., Solomon, D., & Westerfield, W., (2016). Journal of Finance, Vol 71(1), pp. 267-302.
  • "Optimal Dynamic Contracts with Moral Hazard and Costly Monitoring"
    Piskorski, T. & Westerfield, M., (2016). Journal of Economic Theory, pp. 242-281.
  • "Resource Accumulation Through Economic Ties: Evidence from Venture Capital"
    Hochberg, Y., Lindsey, L., & Westerfield, M., (2015). Journal of Financial Economics, Vol 118(2), pp. 245-267.
  • "Portfolio Choice with Illiquid Assets"
    Ang, A., Papanikolaou, D., & Westerfield, M., (2014). Management Science, Vol 60(11), pp. 2737-2761.
  • "Disagreement and Learning in a Dynamic Contracting Model"
    Adrian, T. & Westerfield, M., (2009). The Review of Financial Studies, Vol 22(10), pp. 3873-3906.
  • "High-Water Marks: High Risk Appetites? Convex Compensation, Long Horizons, and Portfolio Choice"
    Panageas, S., & Westerfield, M., (2009). Journal of Finance, Vol 64(1), pp. 1-36.
  • "The Price Impact and Survival of Irrational Traders"
    Kogan, L., Ross, S., Wang, J., & Westerfield, M., (2006). Journal of Finance, Vol 61(1), pp. 195-229.

Lance Young

  • "The Impact of the Sarbanes-Oxley Act on Shareholders and Managers of Foreign Firms"
    Duarte, J., Kong, K., Siegel, S., & Young, L., (2014). Review of Finance, Vol 18(1), pp. 417-455.
  • "Trust and Credit: The Role of Appearance in Peer-to-Peer Lending"
    Duarte, J., Siegel, S., & Young, L., (2012). The Review of Financial Studies, Vol 25(8), pp. 2455-2484.
  • "Why is PIN Priced?"
    Duarte, J., & Young, L., (2009). Journal of Financial Economics, Vol 91(2), pp. 119-138.
  • "Information Asymmetry, Information Dispersion, and the Effect of Regulation FD on the Cost of Capital"
    Duarte, J., Han, X., Harford, J., & Young, L., (2008). Journal of Financial Economics, Vol 87(1), pp. 24-44.

Yao Zeng

  • "Multi-Agent Inference in Social Networks: A Finite Population Learning Approach"
    Fan, J., Tong, X., & Zeng, Y., (2015). Journal of the American Statistical Association, Vol 110(509), pp. 149-158.