Research

publications

• Can Mispricing Explain the Value Premium? 2020, with J. Jaffe, D. Pedersen, and T. Voetmann, Financial Management 49, 615-633. (Working paper version)

• Learning about Target Firms and Pricing of Acquisition, 2020, with T. Moeller, Journal of Banking and Finance (118), 105896. (Working paper version)

• Do Unlisted Targets Sell at Discounts? 2019, with J. Jaffe, D. Pedersen, and T. Voetmann, Journal of Financial and Quantitative Analysis (54), 1371-1401. (Working paper version)

• CEO Compensation and the Sale of Private Firms, 2017, with N. Burns and K. Minnick, Journal of Corporate Finance (43) 444-463. (Working paper version)

• Thawing Frozen Capital Markets and Backdoor Bailouts: Evidence from the Fed’s Liquidity Programs, 2017, with N. Boyson, J. Helwege, Journal of Banking and Finance (76), 92-119. (Working paper version)

• Private Class Action Litigation Risk of Chinese Firms Listed in the U.S., 2017, with T. Voetmann and R. A. Walkling, Quarterly Journal of Finance (7:1). (Working paper version)

• Target Financial Independence and Takeover Pricing, 2015, with T. Moeller, Journal of Financial Research (38), 379-413. (Working paper version)

• Returns to Acquirers of Public and Subsidiary Targets, 2015, with J. Jaffe, D. Pedersen, and T. Voetmann, Journal of Corporate Finance (31), 246-270. (Working paper version)

• VC Valuation, Partial Adjustment, and Underpricing: Behavioral Bias or Information Production? 2015, with D. Leshchinskii, Financial Review (50), 173-219. (Working paper version)

• Crises, Liquidity Shocks, and Fire Sales at Commercial Banks, 2014, with N. Boyson and J. Helwege, Financial Management (43), 857-884. (Working paper version)

• Seasoned Equity Offerings, Valuation, and Timing: Evidence from 1980’s and 1990’s, 2014, Quarterly Journal of Finance (3). (Working paper version)

• Political Spending and Shareholder Wealth: The Effect of the U.S. Supreme Court Ruling in Citizens United, 2014, with N. Burns, American Politics Research (42), 579-599. (Working paper version)

• Acquisition Pricing in India During 1995-2011: Have Indian Acquirers Really Beaten the Odds? 2014, with P. Banerjee, P. Banerjee, S. De, J. Mukhopadhyay, Journal of Banking and Finance (38), 14-30. (Working paper version)

• Why Newly Listed Firms Become Acquisition Targets, 2012, with S. De, Journal of Banking and Finance (36), 2616-2631. (Working paper version)

• A Valuation Study of Stock Market Seasonality and Firm Size, 2010, with Z. Chen, Journal of Portfolio Management (36), 78–92.

• Discussion of the Pre and Post-Tax Discount Rates and Cash Flows: A Technical Note, 2010, with T. Voetmann, Journal of Applied Research in Accounting and Finance (5), 16-20.

• Corporate Valuation and the Resolution of Bank Insolvency in East Asia, 2005, with S. Djankov and L. Klapper, Journal of Banking and Finance (29), 2095–2118.

• Arbitrage Spreads and the Market Pricing of Proposed Acquisitions, 2004, with R. A. Walkling, Journal of Corporate Finance (10), 495–536.

working papers

• Sources of Funding in a Crisis: Evidence from Investment Banks, 2020, with J. Helwege

• Do Hedge Fund Fire Sale Disrupt the Market? 2013, with N. Boyson and J. Helwege

• Crises, Liquidity Shocks, and Fire Sales at Financial Institutions, 2011, with N. Boyson and J. Helwege (Best Paper Award in Financial Institutions and Markets (Wiley Blackwell), FMA 2011)