Selected Publications

[1]      “The (Large) Effect of Return Horizon on Fund Alpha,” 2023, with Hendrik Bessembinder and Michael Cooper. Critical Finance Review, forthcoming.

[2]      “Measuring the Quality of Mergers and Acquisitions,” 2023, with Atif Ellahie and Shenje Hshieh. Management Science, forthcoming.

[3]      “Hiring High-Skilled Labor through Mergers and Acquisitions,” 2023, with Jun Chen and Shenje Hshieh. Journal of Financial and Quantitative Analysis, forthcoming.

[4]      “Mutual Fund Performance at Long Horizons,” 2023, with Hendrik Bessembinder and Michael Cooper. Journal of Financial Economics 147, 132-158.

[5]      “Long run stock returns after corporate events revisited,” 2022, with Hendrik Bessembinder, Critical Finance Review 11, 169-183.  

[6]      “The Role of High-Skilled Foreign Labor in Startup Performance: Evidence from Two Natural Experiments,” 2021, with Jun Chen and Shenje Hshieh. Journal of Financial Economics 142, 430-452. Winner of the Best Paper Award of the 2019 TCU Finance Conference.

[7]      “Characteristic-based benchmark returns and corporate events,” 2019, with Hendrik Bessembinder and Michael Cooper. Review of Financial Studies 32, 75-125. The characteristic-based expected returns used in this paper are uploaded to WRDS, Contributed Data.

[8]      “Do insiders time management buyouts and freezeouts to buy undervalued targets?,” 2019, with Jarrad Harford and Jared Stanfield, Journal of Financial Economics 131, 206-231.

[9]      “Predictable corporate distributions and stock returns,” 2015, with Hendrik Bessembinder, Review of Financial Studies 28, 1199-1241.

[10]   “Director gender and mergers and acquisitions,” 2014, with Maurice Levi and Kai Li, Journal of Corporate Finance 28, 185-200. Winner of the Best Doctoral Student Paper in Behavioral Finance Award at the 2011 Annual Meeting of the Academy of Behavioral Finance & Economics.

[11]   “Firm characteristics and long-run stock returns after corporate events,” 2013, with Hendrik Bessembinder, Journal of Financial Economics 109, 83-102.

[12]   “Information precision and IPO pricing,” 2012, Journal of Corporate Finance 18, 331-348.

[13]   “Deal or no deal: Hormones and the mergers and acquisitions game,” 2010, with Maurice Levi and Kai Li, Management Science 56, 1462-1483.

Working Papers

[14]   “Foreign Talent and Finance,” 2023, with Jun Chen, Shenje Hshieh, and Melvyn Teo. Under Review.

[15]   “Non-random Survival and Long-Run Firm Performance,” 2023. Semifinalist for 2022 FMA Best Paper Award. Under Review.

[16]   “How are firms sold? The role of common ownership,” 2022, with M. Vahid Irani and Wenhao Yang. An earlier version was circulated under the title “Common ownership and competition in mergers and acquisitions.” Revise & Resubmit.

[17]   “Mutual Fund Flows and Investor Disappointment,” 2023, with Hendrik Bessembinder, Shuaiyu Chen, Michael Cooper, and Jinming Xue. Under Review.   

[18]   “Firm Characteristics, Return Predictability, and Long-Run Abnormal Returns in Global Stock Markets,” 2023, with Hendrik Bessembinder, Michael Cooper, and Wei Jiao.

[19]   “Vanishing stock dividends,” 2021, with Avner Kalay.