Working papers
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
To be presented at the WFA, 2012; EFA, 2012
Investors'
Horizons and the Amplification of Market Shocks (with Cristina
Cella and Andrew Ellul)
o Read
a column on the paper on Voxeu.org
o Conference
Presentations (among
many others): American
Economic Association, 2011; Financial Intermediation Research Society 2011,
NBER Summer Institute, 2010 (Risks of Financial Institutions Workshop); NBER
Market Microstructure Meeting, 2010; New
York Fed/NYU Conference on Financial Intermediation, 2010; RFS Conference on
Information, Liquidity and Trust in Incomplete Financial Markets, 2010
On the Real Effects of Bank Bailouts: Micro-Evidence
from Japan (with Andrei Simonov)
o
Read a column on the paper on
Voxeu.org
o Conference Presentations
(among many others): NBER Summer Institute 2009 (Market Institutions and Financial
Markets Risk),
o Recipient of a Federal Deposit
Insurance Corporation (FDIC) research grant ( 2009)
Connections and Information Acquisition in Capital
Allocation (with Xiaoyun
Yu)
o
Conference Presentations (among many others): Financial Intermediation
Research Society 2012,
On the Fortunes of Stock Exchanges and Their
Reversals: Evidence from Foreign Listings (with Nuno Fernandes)
o
Conference Presentations (among many others): Wharton/ISB/Tsingua/SIFR
Conference on Emerging Market Finance, 2010; ESSEC Private Equity Conference,
2008
o
Publications
Flight Home,
Flight Abroad and International Credit Cycles (with Luc Laeven),
forthcoming American Economic Review
P&P
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),
forthcoming International Review of Finance (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”