(January 10, 2022 Version)
Crises as Opportunities for Growth: The Strategic Value of Business Group Affiliation, Journal of Financial and Quantitative Analysis (forthcoming 2022) (with Peter Pham, Jason Zein, and Alvin E. S. Ang).
Bank Lines of Credit as a Source of Long-Term Finance, Journal of Financial and Quantitative Analysis (forthcoming 2022) (with Xin Chang and Yunling Chen).
CEO Option Compensation Can Be a Bad Option: Evidence from Product Market Relationships, Journal of Financial Economics (forthcoming 2021). (with Claire Liu and Jared Stanfield)
A Survey of Recent Evidence on Boards of Directors and CEO Incentives, Asia-Pacific Journal of Financial Studies 49, (2020), 7-35 (Lead Article).
Monitoring the Monitor: Distracted Institutional Investors and Board Governance, Review of Financial Studies 33, 4489-4531 (2020). (with Claire Yang Liu, Angie Low, and Le Zhang).
Employee-Manager Alliances and Shareholder Returns from Acquisitions, Journal of Financial and Quantitative Analysis 55, (2020), 473-516. (with Cong Wang and Fei Xie)
Family Business Group Expansion through IPOs: The Role of Internal Capital in Financing Growth while Preserving Control, Management Science 66 (11), 5191 -5215 (2020). (with Peter Pham, and Jason Zein)
How Valuable Are Independent Directors? Evidence from External Distractions, Journal of Financial Economics, 132, (2019), 226-256. (with Emma Zhang).
Shareholder Wealth Consequence of Insider Pledging of Company Stock as Collateral for Personal Loans, Review of Financial Studies 32 (2019), 4810-4854. (with Ying Dou and Jason Zein)
Deal Initiation in Mergers and Acquisitions, Journal of Financial and Quantitative Analysis 53 (2018), 2389-2430. (with Serif Aziz Simsir)
Seasoned Equity Offerings and Customer-Supplier Relationships, Journal of Financial Intermediation 33 (2018), 98-114. (with William Johnson, Jun-Koo Kang and Sangho Yi)
Board Structure and Monitoring: New Evidence from CEO Turnovers, Review of Financial Studies, 28 (2015), 2770-2811. (with Lixiong Guo)
Agency Problems of Corporate Philanthropy, Review of Financial Studies 28 (2015), 592-636. (with Walid Syed Reza)
Trading Rules, Competition for Order Flow and Market Fragmentation, Journal of Financial Economics 115 (2015), 330-48. (with Amy Kwan and Thomas McInish)
The Structure of Family Business Groups around the World, Research Handbook on Shareholder Power, editors, Jennifer Hill and Randall Thomas, Edward Elgar Publishing, 2015. (with Peter Pham and Jason Zein)
Independent Director Incentives: Where Do Talented Directors Spend their Limited Time and Energy? Journal of Financial Economics 111 (2014), 406-429. (with Shawn Mobbs)
M&A Litigation and Jurisdictional Effects, Journal of Empirical Legal Studies 11 (2014) 132-158. (with CNV Krishnan, Randall Thomas and Robert Thompson)
Contracting under Asymmetric Information: Lockup Agreements in Seasoned Equity Offerings, Journal of Financial Economics 110 (2013), 607-626. (with Jonathan Karpoff and Gemma Lee)
The Supply of Corporate Directors and Board Independence, Review of Financial Studies 26 (2013), 1561-1605. (with Anzhela Knyazeva and Diana Knyazeva)
Law Firm Expertise and Mergers and Acquisitions, Journal of Law and Economics 56 (2013), 189-226. (with CVN Krishnan)
Globalizing the Boardroom - The Effects of Foreign Directors on Corporate Governance and Firm Performance, Journal of Accounting and Economics 53 (2012), 527-554. (with Cong Wang, and Fei Xie)
Shareholder Litigation in Mergers and Acquisitions, Journal of Corporate Finance 18 (2012), 1248-1268. (with CNV Krishnan, Randall Thomas and Robert Thompson)
Venture Capital Reputation: A Survey in Handbook of Entrepreneurial Finance, Venture Capital and Private Equity, D. Cummings, Editor, Oxford University Press, 2012. (with CVN Krishnan)
Family Business Groups around the World: Financing Advantages, Control Motivations, and Organizational Choice, Review of Financial Studies 24 (2011), 3556-3600. (with Peter Pham and Jason Zein)
Are All Inside Directors the Same? Evidence from the External Directorship Market, Journal of Finance 66 (2011), 823-872. (with Shawn Mobbs)
Venture Capital Reputation, Post-IPO Performance and Corporate Governance, Journal of Financial and Quantitative Analysis 46 (2011), 1295-1333. (with CNV Krishnan, Vladimir Ivanov and Ajay Singh)
Venture Capital Conflicts of Interest: Evidence from Acquisitions of Venture Backed Firms, Journal of Financial and Quantitative Analysis 46 (2011), 395-430. (with Raj Nahata)
Do More Reputable Financial Institutions Reduce Earnings Management by IPO Issuers? Journal of Corporate Finance 17 (2011), 982–1000. (with Gemma Lee)
Comparing CEO Employment Contract Provisions: Differences between Australia and the U.S., Vanderbilt Law Review 64 (2011), 557-608. (with Jennifer Hill and Randall Thomas)
Agency Costs of Dual-Class Companies, Journal of Finance 64 (2009), 1697-1727. (with Cong Wang and Fei Xie)
Seasoned Equity Offerings: Quality of Accounting Information and Expected Flotation Costs, Journal of Financial Economics 92 (2009), 443-469. (with Gemma Lee)
Financial Contracting with Strategic Investors: Evidence from Corporate Venture Capital Backed IPOs, Journal of Financial Intermediation 18 (2009), 599-631. (with Raj Nahata)
Does Private Equity Create Wealth? The Effects of Private Equity and Derivatives on Corporate Governance, University of Chicago Law Review 76 (2009), 219-260. (with Randall Thomas)
Corporate Governance and Acquirer Returns, Journal of Finance 62 (2007), 1851-1889. (with Cong Wang and Fei Xie)
Security Offerings, Handbook of Corporate Finance: Empirical Corporate Finance, E. Eckbo, editor, North-Holland /Elsevier (2007), Chapter 13. (with Espen Eckbo and Oyvind Norli)
Political Connections and Government Bailouts, Journal of Finance 61 (2006), 2597-2635. (with Mara Faccio and John McConnell)
The Choice of Financing Methods in European Mergers & Acquisitions, Journal of Finance 60 (2005), 1345-1388. (with Mara Faccio)
Trading Activity and Stock Price Volatility: Evidence from the London Stock Exchange, Journal of Empirical Finance 10 (2003), 249-269, (lead article). (with Roger Huang)
Does Market Structure Affect the Immediacy of Stock Price Responses to News? Journal of Financial and Quantitative Analysis 37 (2002), 617-648. (with Lakshmanan Shivakumar)
Seasoned Public Offerings: Resolution of the ‘New Issues Puzzle’, Journal of Financial Economics 56 (2000), 251-291. JFE All Star Award. (with Espen Eckbo and Oyvind Norli)
FX Spreads and Dealer Competition Across the 24 Hour Day, Review of Financial Studies 12 (1999), 61-93. (with Roger Huang)
Energy Shocks and Financial Markets, Journal of Futures Markets 16 (1996), 1-27, (lead article). (with Roger Huang and Hans Stoll)
Overnight and Daytime Stock Return Dynamics on the London Stock Exchange: The Impacts of 'Big Bang' and the 1987 Stock Market Crash, Journal of Business and Economic Statistics 13 (1995), 365-378, (lead article). (with Victor Ng)
Seasoned Equity Offerings: A Survey, Handbook in Finance, R. Jarrow, V. Maksimovic and B. Ziemba (eds.) North Holland, 1995. (with Espen Eckbo)
Common Stock Offerings across the Business Cycle: Theory and Evidence, Journal of Empirical Finance 1 (1993), 3-31 (lead article, inaugural issue). (with Hyuk Choe and Vikram Nanda)
Adverse Selection and the Rights Offer Paradox, Journal of Financial Economics 32 (1992), 293-332. (with Espen Eckbo)
An Investigation of Market Microstructure Impacts on Event Study Returns, Journal of Finance 46 (1991), 1523-1536. (with Ron Lease and John Page)
An Investigation of the Earnings Information Content in Issuer Tender Offers, Journal of Accounting and Economics 14 (1991), 217-251, (lead article). (with Larry Dann and David Mayer)
The Effect of the 1987 Stock Crash on International Financial Integration, Japanese Financial Market Research, W. Bailey, Y. Hamao and W. Ziemba, editors, Amsterdam: North Holland, 1991. (with Yasushi Hamao and Victor Ng)
Correlations in Price Changes and Volatility across International Stock Markets, Review of Financial Studies 3 (1990), 281-308. (with Yasushi Hamao and Victor Ng)
Corporate Investment and Dividend Decisions under Differential Personal Taxation, Journal of Financial and Quantitative Analysis 23 (1988), 369-386. (with Brett Trueman)
The Debt‑Equity Choice, Institutional Investor Series in Finance, Ballinger Press, 1988.
State‑Preference Theory, Chapter 5 of Financial Theory and Corporate Policy, by Copeland, T. and Weston, J.F., 3rd edition, Addison‑Wesley, 1988.
Changes in Ownership Structure: Conversions of Mutual Savings and Loans to Stock Charter, Journal of Financial Economics 18 (1987), 29-60.
Seasoned Equity Offerings: An Empirical Investigation, Journal of Financial Economics 15 (1986), 91-118, JFE All Star Award. (with Ashok Korwar)
The Valuation Effects of Stock Splits and Stock Dividends, Journal of Financial Economics 13 (1984), 461-490, (lead article). (with Sheridan Titman and Mark Grinblatt)
The Impact of Capital Structure Change on Firm Value, Some Estimates, Journal of Finance 38 (1983), 107-126.
Government Intervention in the Mortgage Market, A Study of Anti‑Redlining Regulations, Journal of Monetary Economics 10 (1982), 191-213.
Stock Repurchase by Tender Offer, An Analysis of the Causes of Common Stock Price Changes, Journal of Finance 35 (1980), 305-319.
Leverage and Dividend Irrelevance under Corporate and Personal Taxation, Journal of Finance 35 (1980), 453-464. (with Harry DeAngelo)
Optimal Capital Structure under Corporate and Personal Taxation, Journal of Financial Economics 8 (1980), 3-27, (lead article), JFE All Star Award. (with Harry DeAngelo)
The Effects of Capital Structure Change on Security Prices: A Study of Exchange Offers, Journal of Financial Economics 8 (1980), 139-178, JFE All Star Award.
The Option Pricing Model and the Risk Factor of Stock, Journal of Financial Economics 3 (1976), 53-81, JFE All Star Award. (with Dan Galai)