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Assistant Professor of Finance &
SWUFE-University of Delaware Joint Educational Institute Research Fellow
Lerner College of Business and Economics
University of Delaware
hmahmudi@udel.edu
Publications
The Value Implications of Mandatory Clawback Provisions, August 2024, (with Tor-Erik Bakke and Aazam Virani), Journal of Law and Economics, forthcoming.
Coverage: The Wall Street Journal ; SEC Final Clawback Rule ; SEC DERA Memo
Director Networks and Firm Value, (with Tor-Erik Bakke, Jeff Black and Scott Linn), Journal of Corporate Finance, 2024, 85, 102545.
Coverage: The FinReg Blog, Duke Financial Economics Center
Foreign Competition and CEO Risk-Incentive Compensation, (with Tor-Erik Bakke, Felix Zhiyu Feng and Heqing Zhu), Journal of Corporate Finance, 2022, 76, 102241.
Why Are Bidder Termination Provisions Included In Takeovers?, (with Zhiyao Chen, Aazam Virani and Xiaofei Zhao), Journal of Financial and Quantitative Analysis, 2022, 57(7) 2860-2896 .
Coverage: UDaily
Does Independent Advice to the Board Affect CEO Compensation?, (with Tor-Erik Bakke), Journal of Financial and Quantitative Analysis, 2021, 56(2) 693-744.
Coverage: UDaily
Performance Peer Groups in CEO Compensation Contracts, (with Tor-Erik Bakke and Ashley Newton), Financial Management, 2020, 49(4) 997-1027.
Collective Action and Governance Activism, (with Craig Doidge, Alexander Dyck and Aazam Virani), Review of Finance, 2019, 23(5) 893-933.
Coverage: The Wall Street Journal ; The Globe and Mail ; Financial Post ; Harvard Law School Forum on Corporate Governance
The Causal Effect of Option Pay on Corporate Risk Management, (with Tor-Erik Bakke, Chitru Fernando and Jesus Salas), Journal of Financial Economics, 2016, 120, 623-643.
Corporate Payout Policy, Cash Savings, and The Cost of Consistency: Evidence from a Structural Estimation, (with Michael Pavlin), Financial Management, 2013, 42(4) 843-874.
Working Papers
The Impact of a Principles-based Approach to Director Gender Diversity, September 2024, (with Tor-Erik Bakke, Laura Field and Aazam Virani), Revise and Resubmit at Journal of Financial and Quantitative Analysis .
Coverage: Harvard Law School Forum on Corporate Governance
Does Corporate Political Spending Advance Shareholder Interests? Evidence from Clawback Regulation, June 2025, (with Tor-Erik Bakke and Aazam Virani).
Growth-promoting Bonuses and Mergers and Acquisitions , June 2025, (with Tor-Erik Bakke, Mathias Kronlund and Aazam Virani).
Coverage: European Corporate Governance Institute Blog
Politicization of the Supreme Court and Firm Value: Evidence from Ruth Bader Ginsburg's Death, June 2025, (with Tor-Erik Bakke, Aazam Virani and Song Zhang).
Coverage: Oxford Business Law Blog
Permanent Working Paper
Backdating Executive Stock Options: Is it all Agency?, March 2019, (with Huasheng Gao).
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