RESEARCH
INTEREST
Theoretical and
empirical corporate finance, with emphasis on: IPOs, restructuring, merger and
acquisitions, security design, corporate disclosure, and strategic behavior by
financial analysts
Theoretical and empirical issues in market efficiency, and asset
pricing under asymmetric information.
PUBLICATIONS
“Do
Investment Banks Listen to Their Own Analysts?”
forthcoming in the Journal of Banking and Finance.
(with Brad Jordan, University of Kentucky, and Qun Wu, SUNY
Oneonta)
“A Theory of Equity Carve-Outs
and Negative Stub Values under Heterogeneous Beliefs,” 2011 the Journal of Financial Economics 100, 616-638.
(with Onur
Bayar, UT San Antonio, and Thomas Chemmanur, Boston College)
“Analysts’ Incentives to
Produce Industry-Level versus Firm-Specific Information,” 2011 the Journal of
Financial and Quantitative Analysis 46, 757-784.
(single-authored)
“Does
More Information in Stock Price Lead to Greater or Smaller Idiosyncratic Return
Volatility?’’ 2011 Journal of Banking
and Finance 35, 1563-1580.
(with Dong
Lee, Korea University)
“Institutional Trading,
Information Production, and the Choice between Spin-Offs, Carve-Outs, and
Tracking Stock Issues,” 2011 Journal of Corporate Finance 17, 62-82.
(with
Thomas Chemmanur, Boston College)
“Anti-takeover Provisions in Corporate Spin-offs,” 2010 Journal
of Banking and Finance 34, 813-824.
(with Thomas Chemmanur, Boston College, Brad Jordan,
University of Kentucky, and Qun Wu, SUNY Oneonta)
“Stock Splits as a Manipulation
Tool: Evidence from Mergers and Acquisitions” , 2008 Financial Management 37, 695-712.
(with Shourun Guo, Duke Energy, and
Weihong Song, University of Cincinnati)
"Buy-side Analysts, Sell-side Analysts, and Investment
Decisions of Money Managers," 2006, the Journal of Financial
and Quantitative Analysis 41, 51-83.
(with Yingmei Cheng, Florida State
University, and Jun Qian, Boston College)
WORKING
PAPERS
INVITED
PRESENTATIONS
Queen’s
Brattle Group Feb
26, 2004
Virginia Tech Feb
6, 2004
University of George Dec. 5, 2003
SUNY