Papers

``Strategic Debt Service," with William Perraudin,

Journal of Finance, Vol. 52, No. 3, pp 531-556, 1997.

``Optimal Bank Reorganization and the Fair Pricing of Deposit Guarantees," with Steven Fries and William Perraudin,

Journal of Banking and Finance, Vol. 21, pp 441-468, 1997.

``The Dynamics of Default and Debt Reorganization,"

Review of Financial Studies, Vol. 12, No. 3, pp 535-578, 1999.

``Default Risk in Asset Pricing," with Pierre Tychon,

Finance, Vol. 20, No.1, 1999.

``Bargaining Power and Optimal Leverage," with Ulrich Hege,

Finance, Vol. 21, No.2, 2000.

``Corporate Walkout Decisions and the Value of Default," with Tom Dahlstrom,

Review of Finance (formerly European Finance Review), Vol. 7, 325-360, 2003.

``Repeated Dilution of Diffusely Held Debt," with Ulrich Hege,

Journal of Business, Vol. 78, No. 3, pp 737-786, 2005.

``The Role of Knowhow Acquisition in the Formation and Duration of Joint Ventures," with Michel Habib,

Review of Financial Studies, Vol. 20, No 1, pp 189-233, 2007.

``Skills, Core Capabilities, and the Choice between Merging, Allying and Trading Assets," with Michel Habib,

Journal of Mathematical Economics, Vol. 43, No. 1, pp 31-48, 2013.

``Entrepreneurial Spawning and Firm Characteristics," with Ulrich Hege and Michel Habib,

Management Science, Vol. 59, No. 12, pp 2790-2804, 2013.

``Bond Exchange Offers or Collective Action Clauses?" with Ulrich Hege,

Finance, Vol. 40, No 3, pp 77 -119, 2019.

``Strategic Decertification in Venture Capital." 

Journal of Corporate Finance, Vol. 65, 101724, 2020.

``Repeated Innovations and Excessive Spinoffs," with Hamid Sabourian, 

Financial Review, Vol. 51, No 1, pp 155, 179, 2024.

Supplementary online material:  Internet Appendix.

``Informational Hold-up by Venture Capital Syndicates," with Suting Hong,

Journal of Financial and Quantitative Analysis, Vol. 59, No. 3, pp. 1362 - 1400, 2024.

Supplementary online material:  Internet Appendix.

``A  Resource-Based View of Entrepreneurial Spin-Outs," 

Review of Financial Economics, Vol. 42, No. 3, pp. 281-290, 2024.

Book Chapters, Comments, Columns

``Comment on Bank Capital Standards for Market Risk: A Welfare Analysis,"

Review of Finance (formerly European Finance Review), Vol. 2, No. 2, pp 159-160, 1998.

``Reorganization Law and Dilution Threats in Different Financial Systems," with Ulrich Hege, 

in Joe McCahery and Luc Renneboog (eds.) Corporate Governance Regimes, Oxford University Press, 2002.

"Corporate debt burdens threaten economic recovery after COVID-19: Planning for debt restructuring should start now," with Bo Becker and Ulrich Hege. VOX CEPR Policy Portal, 2020.