Government Arrears and Corporate Policies: Lessons from a Natural Experiment
We study how late payment in public procurement affects corporate policies by analyzing a public program that unexpectedly repaid local government...
Managerial Response to Shareholder Empowerment: Evidence from Majority-Voting Legislation Changes
Journal of Financial and Quantitative Analysis, 60 (5), 2500 - 2525
The Systemic Governance Influence of Expectation Documents: Evidence from a Universal Owner
The Review of Corporate Finance Studies, 14 (2), 372–407
Gender Promotion Gaps: Career Aspirations and Workplace Discrimination
Using a representative survey of U.S. lawyers, we document a sizeable gender gap in early partnership aspirations, which explains half of the later...
Timing Complex News to Target Attention
Investors have limited and time-varying attention. These constraints are heterogeneous across investors, which can create asymmetric information and...
Managerial Response to Shareholder Empowerment: Evidence from Majority- voting Legislation Changes
This paper studies how managers react to shareholder empowerment that makes the votes on shareholder proposals regarding majority-voting director...
The Systemic Governance Influence of Universal Owners: Evidence From an Expectation Document
Universal owners - large institutional investors with highly diversified and long-term portfolios spanning the entire global capital market - have...
Price and Probability: Decomposing the Takeover Effects of Anti-Takeover Provisions
Journal of Finance, 75 (5), 2591-2629
Firing the wrong workers: Financing constraints and labor misallocation
Journal of Financial Economics, 133 (3), 589-607
Long-Term Debt and Hidden Borrowing
The Review of Corporate Finance Studies, Volume 3, Issue 1-2, Pages 87–122
Say Pays! Shareholder Voice and Firm Performance
This paper estimates the effects of Say-on-Pay (SoP); a policy that increases shareholder "voice" by providing shareholders with a regular vote on...
Financing Constraints, Firm Dynamics, Export Decisions, and Aggregate productivity
We develop a dynamic industry model where financing frictions affect the entry decisions of new firms in the home market, as well as the riskiness of...
