Published Papers
Risk Hedging and Loan Covenants, 2024,
with Hendrik Bessembinder and Yuri Tserlukevich, Management Science, forthcoming.
Clawback Provisions and Firm Risk, 2023,
with Benjamin Bennett, John Bizjak, Jeffrey Coles, and Jason Sandvik, Review of Corporate Finance Studies 12, 191–239. (Lead Article, Editor’s Choice)
Executives in Politics, 2023,
with Viktar Fedaseyeu and Song Zhang, Management Science 69, 6251–6270.
Do CEOs Affect Employees' Political Choices?, 2020,
with Viktar Fedaseyeu and Song Zhang, Review of Financial Studies 33, 1781–1817
Will I Get Paid? Employee Stock Options and Mergers and Acquisitions?, 2021, with Fangfang Du and Yuri Tserlukevich, Journal of Financial and Quantitative Analysis 56, 29–64
Is Market Timing Good for Shareholders?, 2020, with Yuri Tserlukevich and Pengcheng Wan, Management Science 66, 3542–3560.
Idiosyncratic Cash Flows and Systematic Risk, 2016, with Oliver Boguth and Yuri Tserlukevich, Journal of Finance 71, 425-456.
Do Non-Executive Employees Have Information? Evidence from Employee Stock Purchase Planss, with Rik Sen, 2016, Management Science 62, 1878-1898.
Money Left on the Table: An Analysis of Participation in Employee Stock Purchase Plans, with Rik Sen, 2014,
Review of Financial Studies 27, 3658-3698.
The Credibility of Open Market Share Repurchase Signaling, with Yuri Tserlukevich and Alexander Vedrashko, 2012, Journal of Financial and Quantitative Analysis 47, 1059-1088.
Employee Stock Options and Investment, with Michael Lemmon and Yuri Tserlukevich, 2011, Journal of Finance 66, 981-1010.
Share Repurchases and Pay-Performance of Employee Compensation Contracts, 2009, Journal of Finance 64, 117-151.
Analyzing the Tax Benefits from Employee Stock Options, with Yuri Tserlukevich, 2009, Journal of Finance 64, 1797-1825.
Market Timing with Cay, joint with Sandro Andrade and Yuri Tserlukevich, 2006, Journal of Portfolio Management 32, 70-80.
Short Papers
Employees Donate More to Their CEOs' Preferred Political Candidates, 2016,
joint with Viktar Fedaseyeu and Song Zhang, Harvard Business Review, October 17, 2016
Working Papers
Regulating CEO Pay: Evidence from Nonprofit Revitalization Act, with Benjamin Bennett and Rik Sen, presented at WFA, EFA, revise and resubmit at Review of Financial Studies
Corporate Hedging, Contract Rights, and Basis Risk, with Yuri Tserlukevich, presented 2023 UT-Dallas Finance Conference, NFA
Management (of) Proposals, with Goeun Choi and Rik Sen, presented at 2023 Drexel Corporate Governance, AFA, Adam Smith, FIRS
Does Enhanced Disclosure Curb CEO Pay? Evidence from a Modern Information Technology Improvement, with Ben Bennet and Zexi Wang, presented at Drexel Corporate Governance 2024, reject and resubmit at Journal of Finance
Information Acquisition and Corporate Debt Illiquidity, with Mao Lei, presented at SFS Cavalcade, EFA, AEA, Cambridge Corporate Finance Theory
Dynamic Competition and Expected Returns, with Oliver Boguth and Yuri Tserlukevich, presented at AFA 2023, 2023 Workshop on Production- and Investment-Based Asset Pricing
Mega-Donors and Representation of the Wealthy in the Wake of Citizens United, with Viktar Fedaseyeu and Guosong Zhang, new paper
