Publications
The Value Implications of Mandatory Clawback Provisions, (with Hamed Mahmudi and Aazam Virani), Journal of Law and Economics, 2025, 68(3) 627-670.
Coverage: The Wall Street Journal ; SEC Final Clawback Rule ; SEC DERA Memo
Director Networks and Firm Value, (with Jeff Black, Hamed Mahmudi and Scott Linn), Journal of Corporate Finance, 2024, 85, 102-545.
Coverage: The FinReg Blog, Duke Financial Economics Center
Foreign Competition and CEO Risk-Incentive Compensation, (with Felix Zhiyu Feng, Hamed Mahmudi, and Heqing Zhu), Journal of Corporate Finance, 2022, 76, 102-241. Internet Appendix
Does Independent Advice to The Board Affect CEO Compensation?, (with Hamed Mahmudi), 2021, Journal of Financial and Quantitative Analysis, 56(2) 693-744.
Performance Peer Groups in CEO Compensation Contracts, (with Hamed Mahmudi and Ashley Newton), 2020, Financial Management, 49(4) 997-1027.
Coverage: Fortune ; Observer
Diversification and Cash Dynamics (with Tiantian Gu), 2017, Journal of Financial Economics 3, 580-601.
The Causal Effect of Option Pay on Corporate Risk Management (with Hamed Mahmudi, Chitru Fernando and Jesus Salas), 2016, Journal of Financial Economics 120, 623-643.
The Real Effects of Market Liquidity: Causal Evidence from Delisting (with Toni Whited and Candace Jens), 2013, Finance Research Letters 9, 183-193.
Threshold Events and Identification: A Study of Cash Shortfalls (with Toni Whited), 2012, Journal of Finance 25, 1286-1329.
Which Firms Follow the Market? An Analysis of Corporate Investment Decisions (with Toni Whited), 2010, Review of Financial Studies 23, 1941-1980.
Working Papers
Politicization of the Supreme Court and Firm Value: Evidence from Ruth Bader Ginsburg's Death, June 2025, (with Tor-Erik Bakke, Aazam Virani and Song Zhang), Revise and Resubmit at Review of Finance . Internet Appendix
Coverage: Oxford Business Law Blog
The Impact of a Principles-based Approach to Director Gender Diversity, September 2024, (with Tor-Erik Bakke, Laura Field and Aazam Virani), Revise and Resubmit at Journal of Financial and Quantitative Analysis. Internet Appendix
Coverage: Harvard Law School Forum on Corporate Governance
Does Corporate Political Spending Advance Shareholder Interests? Evidence from Clawback Regulation, June 2025, (with Tor-Erik Bakke and Aazam Virani), Revise and Resubmit at Journal of Financial and Quantitative Analysis. Internet Appendix
Growth-promoting Bonuses and Mergers and Acquisitions , June 2025, (with Tor-Erik Bakke, Mathias Kronlund and Aazam Virani).