Research
Research Interests
Asset pricing / Corporate finance / Macro-finance / Sovereign credit risk / Fintech
My research is at the juncture of asset pricing, corporate finance, and macro-finance. Current interests are oriented toward developing theoretical and empirical approaches to demonstrate how changes in macroeconomic conditions (also labeled long-run risk as opposed to the contemporaneous shocks of the CAPM-type of risk) can improve our understanding of issues in asset pricing and corporate finance (CV).
Publications
Sovereign Risk Premia and Global Macroeconomic Conditions, 2021, with S. Andrade and A. Jeanneret.
Journal of Financial Economics, forthcoming
Presented at AEA 2020, NFA 2019, Asset Pricing Workshop at the University of York 2019, EFA 2016, Conference of the Swiss Society for Financial Market Research 2016, University of Cambridge, HEC Montreal, and McGill University.
Working Papers
What Drives the Expected Return on a Stock: Short-Run or Long-Run Risk?, 2020, with C. Dorion and A. Jeanneret.
Best paper in Investment, Semi-finalist, FMA 2019
Presented at FMA 2019, Belgian Financial Research Forum 2018, French Finance Association Meeting 2018, HEC-McGill Doctoral Workshop 2017, Babson College, CUHK, HEC Liege, HEC Montreal, University of Sherbrooke, Laval University, University of Cambridge, and University of Toronto.
Governance Risk and the Cross-Section of Stock Returns, 2022.
Provides theoretical and empirical evidence that corporate governance risk is priced in the cross-section.
Diversity Emerging Scholars Initiative (DESI), FMA 2021
Top papers award, Global Finance Conference 2021
Best paper in Corporate Finance, Semi-finalist, FMA 2020
Presented at International Conference of the French Finance Association (2021), Global Finance Conference (2021), Financial Markets & Corporate Governance Conference (2021), FMA 2020, Cambridge (University) Finance Workshop, University of Liverpool, and University of Ottawa.
Out-of-sample analysis: Entrenchment index 2007-2018.
Works in Progress
Are Cryptocurrencies Priced in the Cross-section? A portfolio Approach, 2022, with K. Assamoi and Z. Guo.
Aims at developing an asset pricing framework (theory and empirics) with both macroeconomic and market factors for the pricing of cryptocurrencies.
Presented at Global Finance Conference (2021), Cambridge Endowment for Research in Finance - CERF (2022), and CERF Alumni Society (2022).
Business Cycles, Competition, and Stock Returns, with Hyacinthe Somé.
Managerial commitment and long-term firm value
Agency conflicts and cost of equity
Long-term economic outlook and equity prices
Is debt financing by firms good for economic growth?
Are cryptocurrencies priced in the cross-section? A portfolio approach