Publications
"Do Investors Care About Corporate Externalities? Experimental Evidence", with Bonnefon, Landier and Sastry, forthcoming Journal of Financial Economics
"Noise in Expectations, Evidence From Analyst Forecasts", with De Silva, Review of Financial Studies, 2024, replication package
"Private Sanctions", with Hart and Zingales, Economic Policy, 2024, Replication package
"How to Use Micro Data for Macrofinance", with Sraer, Annual Review of Financial Economics, 2023
"Overreaction in Expectations: Evidence and Theory", with Afrouzi, Kwon, Landier and Ma, Quarterly Journal of Economics, 2023. Replication package and experimental data.
"How to Use Natural Experiments to Measure Misallocation ", with Sraer, American Economic Review, 2023, Replication package
"Quantifying Reduced-Form Evidence on Collateral Constraints", with Catherine, Chaney, Huang and Sraer, Journal of Finance, 2022, Replication package
"Banks' Exposures to Interest Rate Risk and the Transmission of Monetary Policy", with Gomez, Landier and Sraer, Journal of Monetary Economics, 2021, replication package
"CAPM-Based Company (Mis)valuations", with Dessaint, Olivier and Otto, Review of Financial Studies, 2021, Lead Article, Best paper in Corporate Finance at RFS
"Earnings Expectations in the COVID crisis", with Landier, Review of Asset Pricing Studies, 2020
"Can Unemployment Insurance Spur Entrepreneurial Activity? Evidence From France", with Hombert, Schoar and Sraer, Journal of Finance, 2020, replication package
"The Real Effects of Bank Capital Requirements", with Fraisse and Lé, Management Science, 2019
"Sticky Expectations and the Profitability Anomaly", with Bouchaud, Krüger and Landier, Journal of Finance, 2019
“Political Connections and Corporate Performance: An analysis on French CEOs” , with Marianne Bertrand, Francis Kramarz, and Antoinette Schoar, Review of Finance, 2018
"Wholesale Funding Dry-Ups", with Pérignon and Vuillemey, Journal of Finance, 2018
"Housing Collateral and Entrepreneurship", with Sraer and Schmalz, Journal of Finance, 2017
"Sovereign Crises and Bank Financing: Evidence from the European Repo Market", with Boissel, Derrien, Ors, Journal of Financial Economics, 2017
"Banking Integration and House Price Comovement", with Landier and Sraer, Journal of Financial Economics, 2017
"Does Unemployment Insurance Change the Selection into Entrepreneurship?", with Hombert, Schoar and Sraer, Measuring Entrepreneurial Businesses, NBER, 2017
“The Sovereign-Bank Diabolic Loop and ESBies", with Brunnermeier, Garicano, Lane, Pagano, Reis, Santos, Van Nieuwerburgh and Vayanos, AER P&P, 2016
"The Excess Return of Quality Stocks: A Behavioral Anomaly", with Bouchaud, Ciliberti, Landier and Simon, Journal of Investment Strategies, 2016
"Vulnerable Banks", with Greenwood and Landier, Journal of Financial Economics, 2015, slides
"The WACC fallacy: the real effects of using a single discount rate", with Krüger and Landier, Journal of Finance, 2015
"Overcoming Limits of Arbitrage: Theory and Evidence", with Hombert, Journal of Financial Economics, 2014
"Instabilities in Large Economies: Aggregate Volatility Without Idiosyncratic Shock", with Bonart, Bouchaud, Landier, Journal of Statistical Mechanics: Theory and Experiment, 2014
"Investor Horizons and Corporate Policies", with Derrien and Kecskes, The Journal of Financial and Quantitative Analysis, 2013
"Social Networks in the Boardroom", with Kramarz, Journal of European Economic Association, 2013
“Bottom-Up Corporate Governance”, with Sraer, Landier, Sauvagnat, Review of Finance, 2012
"The Collateral Channel: How Real Estate Shocks Affect Corporate Investment", with Chaney and Sraer, American Economic Review, 2012, Lead article, replication package
"Contrasting Trends in Firm Volatility", with Thoenig, American Economic Journal: Macroeconomics, 2011.
"Stock Price Fragility", with Greenwood, Journal of Financial Economics, 2011. Lead article
"Individual Investors and Volatility", with Foucault and Sraer, Journal of Finance, 2011
"Job Creating LBOs", with Boucly and Sraer, Journal of Financial Economics, 2011
"Regulating Systemic Risk through Transparency: Tradeoffs in Making Data Public", with Landier, "Systemic Risk and Macro Modeling" (Brunnermeier and Krishnamurthy Eds University of Chicago Press), 2011
"Entrepreneurship and Credit Constraints: Evidence From a French Loan Guarantee Program", with Lelarge and Sraer, Differences in Entrepreneurship, Lerner and Schoar Eds, 2010
"Financial Contracting with Optimistic Entrepreneurs", with Landier, Review of Financial Studies, 2009
"Optimal Dissent in Organizations ", with Landier and Sraer, Review of Economic Studies, 2009
"Financial Risk Management: When does Independence Fail?", with Landier and Sraer, AER P&P, 2009
"Investigating Capitalism Aversion", with Landier and Thoenig, Economic Policy, 2008
"Banking Deregulation and Industry Structure: Evidence From the French Banking Reforms of 1985", with Bertrand and Schoar, Journal of Finance, 2007
"From Flexibility to Insecurity: How Vertical Separation Amplifies Firm Level Uncertainty ", with Thoenig, Journal of the European Economic Association, 2007
"Performance and Behavior of Family Firm: Evidence From The French Stockmarket", with Sraer, Journal of the European Economic Association, 2007
“Time Based Competition and Innovation ”, with Askenazy and Thoenig, Economic Journal, 2006
“Changes in the Functional Structure of Firms and the Demand for Skill”, with Maurin , Journal of Labor Economics, 2004
"Identifying Dynamic Discrete Choice Models", with Magnac, Econometrica, 2002
"Analyse économique des politiques éducatives : l'Augmentation de la scolarisation en France de 1982 à 1993", with Magnac, Annales d'Economie et de Statistique, 2002
“ Creative Destruction and Organization Change. ”, with Thoenig, The Quarterly Journal of Economics, 2000
“ Choisir son Organisation dans un Environnement Instable : une Perspective Macro-économique ”, with Thoenig, Revue Economique, 1999.