Research
PUBLICATIONS
[10] Indirect Costs of Financial Distress, with Emilia Garcia-Appendini and Miguel Ferreira. 2023, Review of Finance forthcoming
link to published version: here
link to ssrn: here
Presented at EFA 2019
[9] Supporting Small Firms Through Recessions and Recoveries, with Diana Bonfim and Clara Raposo, 2023, Journal of Financial Economics 147 (3): 658-688
link to published version: here
link to ssrn: here
Presented at LBS Summer Symposium 2019, Calvalcade 2021, NBER Summer Institute 2021, EFA 2022
Winner of “Internacionalização da Economia Portuguesa no Pós-Covid-19” - GEE/AICEP Paper Award
– Media mentions:
(In portuguese) Eco - PME reduziram dependência da banca na última década: here
(In Portuguese) Expresso - Bancos ainda são a principal fonte de financiamento das PME, mas têm vindo a perder relevância: here
(In Portuguese) Jornal de negocios - Apoios a pme tem efeito inexpressivo fora de crises: here
[8] CEO Compensation and Real Estate Prices: Pay for Luck or Pay for Action, with Ana Albuquerque, Benjamin Bennett and Dragana Cvijanovic, 2022, Review of Accounting Studies
link to published version: here
link to ssrn: here
[7] Are CEOs More Likely to Be First-Borns?, 2020, with Stephan Siegel, PLoS ONE 15(6): e0234987
link to published version: here
link to ssrn: here
– Media mentions:
NPR - Hidden Brain: here
Forbes: here
Smallbusiness.com: here
[6] Do General Managerial Skills Spur Innovation? 2019, with Miguel Ferreira and Pedro Matos, Management Science 65(2): 459-476
link to published version: here
link to ssrn: here
– Media mentions
Financial Times: here
Data for General Ability Index from 1993-2012: here (please email for more recent updates)
[5] Financial Expert CEOs: CEO’s Work Experience and Firm’s Financial Policies, 2014, with Daniel Metzger, Journal of Financial Economics 114(1): 125-154
link to published version: here
link to ssrn: here
[4] Mergers and Acquisitions Accounting and the Diversification Discount, 2014, Journal of Finance 69(1): 219-240
link to published version: here
link to ssrn: here
[3] How do CEOs matter? The Effect of Industry Expertise on Acquisition Returns, 2013, with Daniel Metzger, Review of Financial Studies 26(8): 2008-2047
link to published version: here
link to ssrn: here
[2] Generalists vs. Specialists: Lifetime Work Experience and CEO Pay, 2013, with Miguel Ferreira and Pedro Matos, Journal of Financial Economics 108(2): 471-492
– Media mentions: Harvard Business Review (September 2013);
link to published version: here
link to ssrn: here
Data for General Ability Index from 1993-2012: here (please email for more recent updates)
[1] Why are US firms using more short term debt, 2013, with Miguel Ferreira and Luis Laureano, Journal of Financial Economics 108(1): 182-212
link to published version: here
link to ssrn: here
WORKING PAPERS
[9] The Impact of Financial Education of Executives on Financial Practices of Medium and Large Enterprises, with Daniel Metzger and Diogo Mendes, with Daniel Metzger and Diogo Mendes. 2022, under review, Journal of Finance
Presented at EFA 2019, AFA 2020 and the World Bank Empirical Management Conference 2019
link to ssrn: here
VoxDev article: here
efinancial careers article: here
[8] Information Frictions and Firm Take up of Government Support: A Randomised Controlled Experiment
link to ssrn: here
– Media mentions
(In Portuguese) Expresso: here
[7] Firm Responses to Violent Conflicts, with Bernardo Mendes and Diogo Mendes, 2023
link to ssrn: here
The Finreg Blog (Global Financial Markets Center - Duke University School of Law) article: here
[6] Economic Costs of Climate Change, with Adrian Lam, Emilia Garcia-Appendini and Miguel Ferreira, 2020
Presented at: EFA 2022, 2022 OFR Climate Implications for Financial Stability Conference, UZH Young Researcher Workshop on Climate Finance, SHoF-ECGI Zurich; 2020, Conference on Sustainable Finance and Corporate Governance (Stockholm/Virtual, 2020, The Global Research Alliance for Sustainable Finance and Investment 3rd Annual Conference ; New York/Virtual; 2020;
-Best paper award EFIC Conference 2021, Essex Business School
link to ssrn: here
[5] Opiod Crisis and Real Estate Prices, with Dragana Cvijanovic and Moritz Wiedemann, 2020
Presented at CEPR Caffe Seminar Series 2022; European Meeting of the Urban Economics Association 2022
link to ssrn: here
[5] Information, Perceptions, and Electoral Behaviour of Young Voters: A Randomised Controlled Experiment, 2020, with B. Carvalho, B. Geys, D. Mendes, and S. Peralta
- Under Review – Electoral Studies
( email me for a draft)
[4] Conglomerates with Financial Divisions, with Fernando Anjos, Joao Magro and Nuno Fernandes. 2018
( email me for a draft)
[3] How do Firms React to Demand and Productivity Shocks? The Effects of Financial Strength on Price and Markup Responses, with Paulo Brito, Luis Costa and Carlos Santos. 2018
(email me for a draft)
[2] Why do Specialist Managers run Diversified firms?, with Ilona Babenko and Beatriz Mariano. 2018
( email me for a draft)
[1] Cash holdings and Business Conditions, with Clara Raposo and Miguel Ferreira. 2004
link to ssrn: here