(January 10, 2022 Version)
A Survey of Recent Evidence on Boards of Directors and CEO Incentives, Asia-Pacific Journal of Financial Studies (2020) 49, 7-35.
Monitoring the Monitor: Distracted Institutional Investors and Board Governance, Review of Financial Studies (2020) 33, 4489-4531 (with Claire Liu, Angie Low and Le Zhang).
How Valuable Are Independent Directors? Evidence from External Distractions, Journal of Financial Economics (2019) 132:3, 226-256 (with Emma Jincheng Zhang).
Board Structure and Monitoring: New Evidence from CEO Turnovers, Review of Financial Studies (2015) 28:10, 2770-2811 (with Lixiong Guo).
Agency Problems of Corporate Philanthropy, Review of Financial Studies (2015) 28:2, 592-636 (with Syed Walid Reza).
Independent Director Incentives: Where do Talented Directors Spend Their Limited Time and Energy? Journal of Financial Economics (2014) 111, 406-429 (with Shawn Mobbs).
The Supply of Corporate Directors and Board Independence, Review of Financial Studies (2013) 26:6, 1561-1605 (with Anzhela and Diana Knyazeva).
Globalizing the Boardroom – The Effects of Foreign Directors on Corporate Governance and Firm Performance, Journal of Accounting and Economics (2012) 53:3, 527-554 (with Cong Wang and Fei Xie).
Are All Inside Directors the Same? Evidence from the External Directorship Market, Journal of Finance (2011) 66:3, 823-872 (with Shawn Mobbs).
Employee-Manager Alliances and Shareholder Returns from Acquisitions, Journal of Financial and Quantitative Analysis (2020) 55:2, 473-516 (with Cong Wang and Fei Xie).
Deal Initiation in Mergers and Acquisitions, Journal of Financial and Quantitative Analysis (2018) 53:6, 2389-2439 (with Serif Aziz Simsir).
M&A Litigation and Jurisdictional Effects, Journal of Empirical Legal Studies (2014) 11:1, 132-158 (with CVN Krishnan, Randall Thomas and Robert Thompson).
Law Firm Expertise and Mergers and Acquisitions, Journal of Law and Economics (2013) 56:1, 189-226 (with CVN Krishnan).
Shareholder Litigation in Mergers and Acquisitions, Journal of Corporate Finance (2012) 18, 1248-1268 (with CVN Krishnan, Randall Thomas and Robert Thompson).
Venture Capital Conflicts of Interest Evidence from Acquisitions of Venture Backed Firms, Journal of Financial and Quantitative Analysis (2011) 46:2, 395-430 (with Raj Nahata).
Corporate Governance and Acquirer Returns, Journal of Finance (2007) 62:4, 1851-1889 (with Cong Wang and Fei Xie).
The Choice of Financing Method in European Mergers & Acquisitions, Journal of Finance (2005) 60:3, 1345-1388 (with Mara Faccio).
Shareholder Wealth Consequence of Insider Pledging of Company Stock as Collateral for Personal Loans, Review of Financial Studies (2019) 32:12, 4810-4854 ( with Peter Pham and Jason Zein).
Agency Costs at Dual-Class Companies, Journal of Finance (2009) 64:4, 1697-1727 (with Cong Wang and Fei Xie).
Why CEO Option Compensation Can be a Bad Option for Shareholders: Evidence from Major Customer Relationships, Journal of Financial Economics (forthcoming) ( with Clarie Liu and Jared R. Stanfield).
Shareholder Wealth Consequence of Insider Pledging of Company Stock as Collateral for Personal Loans, Review of Financial Studies (2019) 32:12, 4810-4854 ( with Peter Pham and Jason Zein).
Comparing CEO Employment Contract Provisions: Differences between Australia and the U.S., Vanderbilt Law Review (2011) 64:2, 557-608 (with Jennifer Hill and Randall Thomas).
Agency Costs at Dual-Class Companies, Journal of Finance (2009) 64:4, 1697-1727 (with Cong Wang and Fei Xie).
Crises as Opportunities for Growth: The Strategic Value of Business Group Affiliation, Journal of Financial and Quantitative Analysis (forthcoming) (with Peter Pham, Jason Zein and Alvin E. S. Ang).
Family Business Group Expansion through IPOs: The Role of Internal Capital in Financing Growth while Preserving Control, Management Science (2020) 66: 11, 5191-5215 (with Peter Pham and Jason Zein).
Shareholder Wealth Consequence of Insider Pledging of Company Stock as Collateral for Personal Loans, Review of Financial Studies (2019) 32:12, 4810-4854 (with Ying Dou and Jason Zein).
The Structure of Family Business Groups around the World, Research Handbook on Shareholder Power, (2015) editors, Jennifer Hill and Randall Thomas, Edward Elgar Publishing (with Peter Pham and Jason Zein). [Add SSRN Link]
Business Groups around the World: Financing Advantages, Control Motivations, and Organizational Choices, Review of Financial Studies (2011) 24:11, 3556-3600 (with Peter Pham and Jason Zein).
Agency Costs at Dual-Class Companies, Journal of Finance (2009) 64:4, 1697-1727 (with Cong Wang and Fei Xie).
Does Private Equity Create Wealth? The Effects of Private Equity and Derivatives on Corporate Governance, University of Chicago Law Review (2009) 76, 219-260 (with Randall Thomas).
Political Connections and Corporate Bailouts, Journal of Finance (2006) 61:6, 2597-2635 (with Mara Faccio and John McConnell).
Venture Capital Reputation: A Survey, Handbook of Entrepreneurial Finance, Venture Capital and Private Equity, (2012) D. Cummings, Editor, Oxford University Press (with CVN Krishnan).
Venture Capital Reputation, Post-IPO Performance and Corporate Governance, Journal of Financial and Quantitative Analysis (2011) 46:5, 1295-1333 (with CVN Krishnan, Vladimir Ivanov and Ajay Singh) .
Venture Capital Conflicts of Interest Evidence from Acquisitions of Venture Backed Firms, Journal of Financial and Quantitative Analysis (2011) 46:2, 395-430 (with Raj Nahata).
Financial Contracting with Strategic Investors: Evidence from Corporate Venture Capital Backed IPOs, Journal of Financial Intermediation (2009) 18:4, 599-631 (with Raj Nahata).
Contracting Under Asymmetric Information: Lockup Agreements in Seasoned Equity Offerings, Journal of Financial Economics (2013) 110:3, 607-626 (with Jonathan Karpoff and Gemma Lee).
Do More Reputable Financial Institutions Reduce Earnings Management by IPO Issuers?, Journal of Corporate Finance (2011) 17:4, 982–1000 (with Gemma Lee).
Financial Contracting with Strategic Investors: Evidence from Corporate Venture Capital Backed IPOs, Journal of Financial Intermediation (2009) 18:4, 599-631 (with Raj Nahata).
Seasoned Equity Offerings: Quality of Accounting Information and Expected Flotation Costs, Journal of Financial Economics (2009) 92:3, 443-469 (with Gemma Lee).
Security Offerings, Handbook of Corporate Finance: Empirical Corporate Finance, (2007) E. Eckbo, editor, North-Holland /Elsevier, Chapter 13 (with Espen Eckbo and Oyvind Norli).
Does Market Structure Affect the Immediacy of Stock Price Responses to News?, Journal of Financial and Quantitative Analysis (2002) 37:4, 617-648 (with Lakshmanan Shivakumar).
Seasoned Public Offerings Resolutions of the ‘New Issues Puzzle’, Journal of Financial Economics (2000) 56:2, 251-291 (with Espen Eckbo and Oyvind Norli) ( JFE All Star Award).
Seasoned Equity Offerings: A Survey, Handbook in Finance, (1995) R. Jarrow, V. Maksimovic and B. Ziemba (eds.) North Holland (with Espen Eckbo).
Common Stock Offerings Across the Business Cycle: Theory and Evidence, Journal of Empirical Finance (1993) 1:1, 3-31 (with Hyuk Chioe and Vikram Nanda) (lead article, inaugural issue).
Adverse Selection and the Rights Offer Paradox, Journal of Financial Economics (1992) 32:3, 293-332 (with Espen Eckbo).
An Investigation of Market Microstructure Impacts on Event Study Returns, Journal of Finance (1991) 46:4, 1523-1536 (with Ronald Lease and John Page).
Changes in Ownership Structure: Conversions of Mutual Savings and Loans to Stock Charter, Journal of Financial Economics (1987) 18, 29-60.
Seasoned Equity Offerings: An Empirical Investigation, Journal of Financial Economics (1986) 15:1/2, 91-118 (with Ashok Korwar) (JFE All Star Award).
Bank Lines of Credit as a Source of Long-Term Finance, Journal of Financial and Quantitative Analysis (forthcoming) (with Xin Chang and Yunling Chen).
Trading Activity and Stock Price Volatility: Evidence from the London Stock Exchange, Journal of Empirical Finance (2003) 10:3, 249-269, (with Roger Huang) (lead article).
FX Spreads and Dealer Competition Across the 24 Hour Trading Day, Review of Financial Studies (1999) 12:1, 61-93 (with Roger Huang).
Energy Shocks and Financial Markets, Journal of Futures Markets (1996) 16:1, 1-27, (with Roger Huang and Hans Stoll) (lead article).
Overnight and Daytime Stock Return Dynamics on the London Stock Exchange: Impacts of ‘Big Bang’ and the 1987 Stock Market Crash, Journal of Business and Economic Statistics (1995) 13:4, 365-378 (with Victor Ng)(lead article).
The Effect of the 1987 Stock Crash on International Financial Integration, Japanese Financial Market Research, (1991) W. Bailey, Y. Hamao and W. Ziemba, editors, Amsterdam: North Holland (with Yasushi Hamao and Victor Ng).
Correlations in Price Changes and Volatility across International Stock Markets, Review of Financial Studies (1990) 3:2, 281-308 (with Yasushi Hamao and Victor Ng).
Government Intervention in the Mortgage Market: A Study of Anti-Redlining Regulations, Journal of Monetary Economics (1982) 10, 191-213.
The Option Pricing Model and the Risk Factor of Stock, Journal of Financial Economics (1976) 3:1/2, 53-81 (with Dan Galai) (JFE All Star Award).
Repurchase Tender Offers and Earnings Information, Journal of Accounting and Economics (1991) 14:3, 217-251 (with Larry Dann and David Mayers) (lead article).
Corporate Investment and Dividend Decisions Under Differential Personal Taxation, Journal of Financial and Quantitative Analysis (1988) 23:4, 369-386 (with Brett Trueman).
Changes in Ownership Structure: Conversions of Mutual Savings and Loans to Stock Charter, Journal of Financial Economics (1987) 18:1, 29-60.
The Valuation Effects of Stock Splits and Stock Dividends, Journal of Financial Economics (1984) 13:4, 461-490 (with Mark Grinblatt and Sheridan Titman) (lead article).
The Impact of Capital Structure Change on Firm Value: Some Estimates, Journal of Finance (1983) 38:1, 107-126.
Stock Repurchase by Tender Offer An Analysis of the Causes of Common Stock Price Changes, Journal of Finance (1980) 35:2, 305-319.
Leverage and Dividend Irrelevancy Under Corporate and Personal Taxation, Journal of Finance (1980) 35:2, 453-464 (with Harry DeAngelo) .
Optimal Capital Structure Under Corporate and Personal Taxation, Journal of Financial Economics (1980) 8:1, 3-27 (with Harry DeAngelo) (lead article, JFE All Star Award).
The Effects of Capital Structure Change on Security Prices: A Study of Exchange Offers, Journal of Financial Economics (1980) 8:2, 139-178 (JFE All Star Award).
The Option Pricing Model and the Risk Factor of Stock, Journal of Financial Economics (1976) 3:1/2, 53-81 (with Dan Galai) (JFE All Star Award).