Contact information
ca58 [at] rice [dot] edu
Employment
Associate Professor (with tenure), Rice University, Jones Graduate School of Business, 2023-present
Area PhD Coordinator, Rice University, Jones Graduate School of Business, 2025-present
Prior Employment
Associate Professor (with tenure), University of Minnesota, Carlson School of Management, 2022-2023
Assistant Professor, University of Minnesota, Carlson School of Management, 2016-2022
Education
PhD, Columbia GSB, 2013-2016
MA, Stanford GSB, 2010-2013
MA, Stanford, 2010-2013
BS, University of Maryland, 2005-2009
Publications
Merchants of death: The effect of credit supply shocks on hospital outcomes (with Pinar Karaca-Mandic, Xuelin Li, and Richard Thakor). 2024. American Economic Review, 114 (11), 3623-3668.
Sequential reporting bias (with Ilan Guttman and Evgeny Petrov). 2024. The Accounting Review, 99 (5), 1-33.
Strategic complexity in disclosure (with Kevin Smith). 2023. Journal of Accounting and Economics, 76 (2-3), 101635.
Managerial myopia, earnings guidance, and investment (with Tadashi Hashimoto). 2023. Contemporary Accounting Research, 40 (1), 166-195.
Do mandatory disclosure requirements for private firms increase the propensity of going public? (with Richard Thakor), 2022. Journal of Accounting Research, 60 (3), 755-804.
IPO peer effects (with Richard Thakor). 2022. Journal of Financial Economics, 144 (1), 206-226.
Aggressive boards and CEO turnover (with Tadashi Hashimoto). 2021. Journal of Accounting Research, 59 (2), 437-486.
No reliance on guidance: Counter-signaling in management forecasts (with Carlos Corona and Ronghuo Zheng). 2021. RAND Journal of Economics, 52 (1), 207-245.
Strategic timing of IPOs and disclosure: A dynamic model of multiple firms (with Ilan Guttman). 2021. The Accounting Review, 97 (3), 27-57.
Voluntary disclosure with evolving news (with Byeong-Je An). 2021. Journal of Financial Economics, 140 (1), 21-53.
Information arrival, delay, and clustering in financial markets with dynamic freeriding (with Tadashi Hashimoto). 2020. Journal of Financial Economics, 138 (1), 27-52.
Debt contract enforcement and conservatism: Evidence from a natural experiment (with Nan Li). 2018. Journal of Accounting Research, 56 (5), 1383-1416.
Working papers
The (going) public option: Equity market financing in the hospital industry (with Jash Jain and Richard Thakor)
Observational learning, endogenous timing, and information acquisition
Mandatory vs. voluntary ESG disclosure, efficiency, and real effects (with Byeong-Je An)
Enforcement and the regulatory risk of voluntary disclosure (with Haibing Shu)
Endogenous offer arrival in the market for lemons (with Tadashi Hashimoto)
When private equity comes to town: The local economic consequences of rising healthcare costs (with Jash Jain and Richard Thakor)
Mandatory vs. voluntary disclosure in the dynamic market for lemons (with Shunsuke Matsuno)
The signaling role of seemingly myopic investment behavior (with Vivian Fang and Renhui Fu)
Teaching
At Rice University:
Managerial Accounting (MBA), Spring 2024-2026
Managerial Control (MBA), Spring 2024, 2026
Analytical Topics (PhD), Spring 2024, 2026
At University of Minnesota:
Introduction to Financial Reporting, Spring 2017-2023
Dynamic Games (PhD), Spring 2020, 2022
Presentations
2024-2025: AES Inaugural Conference*, University of Texas at Austin, BYU Red Rock Conference*, American Finance Association Annual Meeting*, Columbia Burton Conference, Dartmouth FOM Conference (discussant), University of Hawaii, Bretton Woods Conference*, Midwest Finance Association Annual Meeting*, Washington University Conference on the Economics and Finance of Healthcare and Medicine*
2023-2024: NYU Big Apple Conference, University of Tokyo, University of Mannheim, CEIBS 6th Annual Finance and Accounting Conference, University of Zurich, HARC, City University of Hong Kong, AES Winter Retreat, University of Utah, Midwest Finance Association Annual Meeting*, Financial Intermediation Research Society Conference*, University of Alberta Research Conference.
2022-2023: Journal of Accounting and Economics Conference*, Seoul National University, KAIST, Rice, European Finance Association Annual Meeting*, Korea Development Institute, Dartmouth, AEA Annual Meeting*, University of British Columbia, HARC, AES Winter Retreat, Shanghai Jiao Tong University, Minnesota-Chicago Theory Conference, Econometric Society Summer Meeting*, ABFER Annual Meeting.
2021-2022: NBER Summer Institute*, Federal Reserve Stress Testing Research Conference*, Columbia, HARC, HKUST Symposium*, SMU Symposium*, University of Alberta , UC Riverside, Dartmouth, ABFER Annual Meeting.
2020-2021: Journal of Accounting Research Conference, UCLA, Washington University in St. Louis, Accounting and Economics Society, DAR & DART Accounting Theory Seminar, Financial Intermediation Research Society Conference*.
2019-2020: Carnegie Mellon Accounting Theory Conference, Tilburg Winter Camp, Shanghai Jiao Tong University, Midwest Finance Association Annual Meeting*, Utah Winter Accounting Conference.
2018-2019: Chicago-Minnesota Theory Conference, Northwestern, Econometric Society Annual Meeting*, NTU Finance Conference*.
2017-2018: Utah Winter Accounting Conference, Minnesota, International Game Theory Conference*.
2016-2017: Cambridge Corporate Finance Theory Symposium*, Carnegie Mellon.
2015-2016: Baruch, Chicago, Columbia, Dartmouth, Duke, Minnesota, Northwestern, Rice, Stanford, Yale.
(* denotes conference presentation by coauthor)
School and professional service
Editorial Board member, The Accounting Review, June 2023-present
Rice University:
Area PhD Coordinator, 2025-present
Executive Education Advisory Committee, 2025-present
PhD Program Committee, 2025-present
Recruiting Committee, 2023-present
Graduate Academic Integrity Committee, 2023-present
University of Minnesota:
Co-organizer, Chicago-Minnesota Theory Conference, 2017-2023
Minnesota Accounting Seminar Organizer, 2019-2020
PhD admissions committee, 2021-2023
PhD student advising and initial placement:
Minjae Kim, primary advisor, University of Alberta, 2022
Juerui Feng, committee member, Xi'an Jiaotong-Liverpool University, 2023
Jash Jain, committee member, Indian School of Business, 2024
Ethan Yao, committee member, NEOMA Business School (Paris), 2024