Working papers
Mortgage Market
Concentration, Foreclosures, and House Prices: Theory and Evidence (with
Giovanni Favara)
Compensation
and Competition for Talent: Talent Scarcity or Incentives? (with Daniel Metzger)
On the
Determinants of the Non-Voting Shares’ Discount: Investor Preferences and
Fundamentals (with Fabio
Braggion)
Local Bias
and Market Conditions (with Luc Laeven)
The Brain
Gain of Corporate Boards: A Natural Experiment from China (with Guanmin Liao and
Xiaoyun
Yu)
o Read
a column on the paper on Voxeu.org
Connections and Information Acquisition in Capital
Allocation (with Xiaoyun
Yu)
Publications
Investors'
Horizons and the Amplification of Market Shocks (with Cristina
Cella and Andrew Ellul), Review of Financial Studies, forthcoming
o Read
a column on the paper on Voxeu.org
On the Fortunes of Stock Exchanges and Their
Reversals: Evidence from Foreign Listings (with Nuno Fernandes), Journal of Financial Intermediation, forthcoming
On the Real Effects of Bank Bailouts: Micro-Evidence from Japan
(with Andrei Simonov), American Economic Journal: Macroeconomics, vol. 5-1, p. 135-67, 2013.
o
Read a column on the paper on
Voxeu.org
Flight Home, Flight Abroad and
International Credit Cycles (with Luc Laeven), American Economic Review 2012, 102(3):
219–224
The Flight Home Effect:
Evidence from the Syndicated Loan Market During Financial Crises (with Luc
Laeven), Journal of Financial Economics vol. 104-1, p. 23-43, 2012
o Read commentary on the Harvard Law School Forum on Corporate Governance and
Financial Regulation “The
Flight Home Effect”
Do Cultural Differences Between Contracting Parties
Matter? Evidence from Syndicated Bank
Loans (with Yishay
Yafeh), Management Science, vol. 58-2, p.365-383, 2012.
'Lending
by Example': Direct and Indirect Effects of Foreign Banks in Emerging Markets
(with Steven Ongena), Journal of International Economics vol.
86-1, 167-180, 2012.
Is Pay a Matter of Values?, (with Renee B. Adams),
International Review of Finance vol. 12:2, 2012: pp. 133–173 (Special Issue on Corporate Governance and
the Crisis)
What You Sell Is What You Lend? Explaining
Trade Credit Contracts (with Mike Burkart and Tore Ellingsen), Review of Financial Studies vol. 24-4, 1261-1298, 2011.
Serial CEO Incentives and the Structure of Managerial Contracts, Journal of Financial Intermediation vol. 20-4, 633-662, 2011.
Liquidity Constraints and
Occupational Choice, Finance Research Letters, 8, 37-44,
2011.
Investor
Protection, Equity Returns, and Financial Globalization (with Yrjo Koskinen), Journal
of Financial and Quantitative Analysis vol. 45-1, 135-168, 2010.
Pension Reforms, Ownership Structure and
Corporate Governance: Evidence from a Natural Experiment (with Luc Laeven), Review of Financial Studies vol.
22-10, 4091-4127, 2009.
Fighting
for Talent: Risk-Taking, Corporate Volatility, and Organizational Change (with Guido Friebel), Economic Journal, vol.
119-540, 1344-1373, 2009.
Social Interactions and
Entrepreneurial Activity (with Andrei Simonov), Journal of
Economics and Management Strategy, vol.
18-3, 665-709, 2009.
o Read a commentary
by Robert J. Shiller referencing this paper: “The Culture of Entrepreneurship”