Publications

Bena, J., Ortiz-Molina, H., and Simintzi, E., 2021, “Shielding Firm Value: Employment Protection and Process Innovation”, Journal of Financial Economics, forthcoming [SSRN]

Klasa, S., Ortiz-Molina, H., Serfling, M., and Srinivasan, S., 2018, “Protection of Trade Secrets and Capital Structure Decisions”, Journal of Financial Economics 128, 266-286.

Ortiz-Molina, H. and Phillips, G. M., 2014, “Real Asset Illiquidity and the Cost of Capital”, Journal of Financial and Quantitative Analysis 49 (1), 1-32 (lead article).

Cohen Freue, G. V., Ortiz-Molina, H., and Zamar, R. H., 2013, “A Natural Robustification of the Ordinary Instrumental Variables Estimator”, Biometrics 69 (3), 641-650.

Bena, J. and Ortiz-Molina, H., 2013, “Pyramidal Ownership and the Creation of New Firms”, Journal of Financial Economics 108, 798-821.

Chen, J., Kacperczyk, M., and Ortiz-Molina, H., 2012, “Do Non-Financial Stakeholders Affect the Pricing of Risky Debt? Evidence From Unionized Workers”, Review of Finance 16 (2), 347-383. Runner up for the Spaengler IQAM Prize for the best paper published in the Review of Finance in 2012.

Chen, J., Ortiz-Molina, H., and Zhang, S., 2011, “Average Stock Variance and Market Returns: Evidence of Time-Varying Predictability at the Daily Frequency”, Journal of Portfolio Management 37 (4), 86-95.

Chen, J., Kacperczyk, M., and Ortiz-Molina, H., 2011, “Labor Unions, Operating Flexibility, and the Cost of Equity”, Journal of Financial and Quantitative Analysis 46 (1), 25-58.

Klasa, S., Maxwell, W. F., and Ortiz-Molina, H., 2009, “The Strategic Use of Corporate Cash Holdings in Collective Bargaining with Labor Unions”, Journal of Financial Economics 92, 421-442.

Li, K., Ortiz-Molina, H., and Zhao, X., 2009, “Voting With Their Feet: Institutional Investors Shy Away From Dual-Class Firms”, Canadian Investment Review 22, 6-13.

Li, K., Ortiz-Molina, H., and Zhao, X., 2008,“Do Voting Rights Affect Institutional Investment Decisions? Evidence From Dual-Class Firms”, Financial Management, Winter, 713-745. Winner of the Best Paper Award in Valuation at the Northern Finance Association Meetings 2007.

Boyer, M. M., and Ortiz-Molina, H., 2008, “Career Concerns of Top Executives, Managerial Ownership and CEO Succession”, Corporate Governance: An International Review 16 (3), 178-193.

Ortiz-Molina, H., and Penas, M. F., 2008, “Lending to Small Businesses: The Role of Loan Maturity in Addressing Information Problems”, Small Business Economics 30 (4), 361-383.

Ortiz-Molina, H., 2007, “Executive Compensation and Capital Structure: The Effects of Convertible and Straight Debt”, Journal of Accounting and Economics 43 (1), 69-93.

Ortiz-Molina, H., 2006, “Top-Management Incentives and the Pricing of Corporate Public Debt”, Journal of Financial and Quantitative Analysis 41 (2), 317-340. Winner of the William F. Sharpe Award for the best paper published in the Journal of Financial and Quantitative Analysis in 2006.

Working Papers