PUBLICATIONS:

1. Agree to Disagree: Lender Equity Holdings, Within-Syndicate Conflicts, and Covenant Design (with Yongqiang Chu and Zhanbing Xiao) 

(Journal of Financial Intermediation, Volume 57, January 2024)

Featured at the Duke University School of Law FinReg Blog

2. Taking No Chances: Lender Concentration and Corporate Acquisitions

(Journal of Corporate Finance, Volume 76, October 2022)

3. Beyond the Target: M&A Decisions and Rival Ownership (with Miguel Anton, Jose Azar, and Mireia Gine)

(Journal of Financial Economics, Volume 144, Issue 1, April 2022)

Featured at Harvard Law School Forum on Corporate Governance and Bloomberg Opinion and Competition Policy International and ABA Economics Committee Newsletter

4. The Mutual Friend: Dual Holder Monitoring and Firm Investment Efficiency (with Miguel Anton)

(Review of Corporate Finance Studies, Volume 9, Issue 1, March 2020)

5. Great Trees are Good for Shade: Creditor Monitoring Under Common Ownership 

(Finance Research Letters, Volume 44, January 2022)

WORKING PAPERS:

6. Creditor Conflicts and Bond-Loan Dualholding (with Xinyan Yan and Alex Zhou

Loan lenders value their abilities to prevail in potential conflicts with bondholders and account for the risk of losing them when contracting loans.

Funded by Social Sciences and Humanities Research Council of Canada (SSHRC) Insight Development Grant

Presented at:

Bretton Woods Accounting and Finance Conference, NYU Stern Corporate Governance Research Luncheon, Brazilian Accounting Research Conference, University of Delaware, CUHK-Shenzhen, Nanjing University, CICF 2023, NFA 2023, FMA 2023

7. Shareholder-Creditor Conflicts and Equity Lending Behavior (with Yongqiang Chu, Pedro Saffi, and Jason Sturgess

When creditors have strong bargaining power but potential shareholder-creditor conflicts become lower, large shareholders are more willing to lend out their shares instead of retaining them for bargaining power over management.

Presented at:

28th AEFIN Finance Forum, Paris December Finance Meeting 2021, MFA 2022, FMA 2023, IESE Business School, INSEAD, Texas Tech University, Nanyang Technology University, Singapore Management University, University of South Carolina, Monash University, SUNY Buffalo, Hong Kong Baptist University, Western University (Ivey)

8. Happily Ever After? Lender Diversification and Performance Sensitivity in Post-IPO Loans (with Xiaoyu Zhang)

Even after gaining a credible mechanism to disseminate information to potential new lenders, newly public firms need to commit to performance-sensitive debt to convince them to start a relationship. They still tend to do so despite the cost of subjecting their performance to more lender pressure.