Corporate Finance, Labor and Finance, Credit Markets


[1] "Wrongful Discharge Laws and Innovation", with Viral Acharya and Krishnamurthy Subramanian; The Review of Financial Studies, 2014, 27(1): 301-346.

[2] "Have Rating Agencies Become More Conservative? Implications for Capital Structure and Debt Pricing", with Henri Servaes and Ane Tamayo; The Journal of Finance, 2014, 69(5): 1961–2005.

[3] "Labor Laws and Innovation", with Viral Acharya and Krishnamurthy Subramanian; The Journal of Law and Economics, 2013, 56(4): 997-1037.

[4] "Non-rating Revenue and Conflicts of Interest", with Bo Becker; The Journal of Financial Economics, 2018, 127(1): 94-112.

Harvard Law School Forum on Corporate Governance and Financial Regulation (link)VoxEU column (link)Money, Banking, and Financial Markets blog (link)

[5] "Reputations and Credit Ratings: Evidence from Commercial Mortgage-backed Securities", with Bo Becker; The Journal of Financial Economics, 2019, 135(2): 425-444.

[6] "Talent in Distressed Firms: Investigating the Labor Costs of Financial Distress", with Rui Silva, Viktor Thell, and Vikrant Vig; The Journal of Finance, 2021, 76(6): 2907-2961.

VoxEU column (link)

[7] "Liability Structure and Risk-Taking: Evidence from the Money Market Fund Industry," with Mariassunta Giannetti and Ivika Jäger; The Journal of Financial and Quantitative Analysis, 2022, 57(5): 1771–1804.

download paper (SSRN)The FinReg Blog of the Duke Law Global Financial Markets Center (link)

[8] "The Use of Credit Ratings in the Delegated Management of Fixed Income Assets," with Bo Becker and Stefan Pitschner; August 2022; conditionally accepted, Management Science

(previously circulated as "The Private Use of Credit Ratings: Evidence from Mutual Fund Investment Mandates" and "The Use of Credit Ratings in Financial Markets")download paper (SSRN)Pro-Market blog (the blog of the Stigler Center at the University of Chicago Booth School of Business) entry (link)Oxford Business Law Blog (link)ECGI news post (link)Wall Street Journal article discussing key findings of the paper (link)Bloomberg column discussing key findings of the paper (link)


[9] "Teams and bankruptcy", with Rui Silva and Luofu Ye; March 2023; R&R at The Review of Financial Studies

(previously circulated as "Bankruptcy, Team-specific Human Capital, and Productivity: Evidence from U.S. Inventors")download paper (SSRN)ECGI news post (link)Oxford Business Law Blog (link)Harvard Law School Bankruptcy Roundtable (link)

[10] "Are women more exposed to firm shocks?", with Rui Silva and Margarida Soares; October 2022.

[11] "How do mergers affect the mental health of employees?", with Laurent Bach, Marieke Bos, and Rui Silva; January 2023

download paper (SSRN)

[12] "Who becomes a business angel?", with Laurent Bach, Per Strömberg, and Katarina Warg; October 2022.

[13] "The impact of going public on the firm’s human capital", with Rui Silva; March 2019