Research interests: corporate finance, financial markets.
Publications:
[1] “Short-Horizon Incentives and Stock Price Inflation,” with Manu Gupta and Shane Johnson, Journal of Corporate Finance, 2020, Volume 65 (December).
[2] “Is Language an Economic Institution? Evidence from R&D Investment,” with Xunhua Su, Yun Tang, and Bin Xu, Journal of Corporate Finance, 2020, Volume 62 (June).
Featured in Harvard Business Review, 2020 Nov/Dec Issue.
[3] “Why Has the Value of Cash Increased Over Time?” with Thomas Bates and Ching-Hung (Henry) Chang, Journal of Financial and Quantitative Analysis, 2018, Volume 53, Issue 2, 749-787.
Semi-finalist for the Best Paper Award in Corporate Finance, FMA 2012 Annual Meeting.
[4] “The Dynamics of Performance Volatility and Firm Valuation,” with Xunhua Su, Journal of Financial and Quantitative Analysis, 2017, Volume 52, Issue 1, 111-142.
[5] “Product Market Threats and the Value of Corporate Cash Holdings,” with Xunhua Su, Financial Management, 2016, Volume 45, Issue 3, 705-735.
Presented at 2015 Financial Management Writers’ Workshop.
Accepted for publication on the first submission and featured as an FM Writers’ Workshop Success Story.
[6] “The Conditional Nature of the Value of Corporate Governance,” with Scott Lee, Journal of Banking and Finance, 2010, Volume 34, Issue 2, 350-361.
[7] “Overvaluation and Earnings Management,” with Manu Gupta, Journal of Banking and Finance, 2009, Volume 33, Issue 9, 1652-1663.
[8] “Understanding the Endogeneity between Firm Value and Shareholder Rights,” Financial Management, 2005, Volume 34, Issue 4, 65-76.
Summarized in CFA Digest, May 2006, Vol. 36, No. 2: 32-33.
Current Projects:
[9] “Information Super-Railway? Transportation Infrastructure and Information Production in Financial Markets,” with Kejing Chen and Wenqi Guo.
[10] “Product Market Competition and Total Corporate Liquidity,” with Xunhua Su.
Presented at Western Finance Association 2014 Meetings (Monterey Bay, CA).
[11] “The Time Horizon of Managerial Incentives and Firms’ Information Environment Quality,” with Manu Gupta and Shane Johnson.
[12] “The Value of Vesting Restrictions on Managerial Stock and Option Holdings,” with Shane Johnson.