Finance Faculty Publications


Forthcoming Publications

Collective action and governance activism," Craig Doidge, Alexander Dyck, Hamed Mahmudi and Aazam ViraniReview of Finance, forthcoming.

"Debt and Bargaining Outcomes: Evidence from U.S. Hospitals," Mitch TownerManagement Science, forthcoming.

"Payout Policy Tradeoffs and the Rise of 10b5-1 Preset Repurchase Plans," Alice Bonaime, Jarrad Harford and David Moore. Management Science, forthcoming.

"On the performance of volatility-managed portfolios," Scott Cederburg, Michael S. O'Doherty, Feifei Wang, and Xuemin (Sterling) Yan, Journal of Financial Economics, forthcoming.

Exports, Investment and Policy Uncertainty”, Andrew Greenland, Mihai Ion, and John Lopresti, Canadian Journal of Economics, forthcoming.

"Pricing intertemporal risk when investment opportunities are unobservable," Scott Cederburg, Journal of Financial and Quantitative Analysis, forthcoming.

“Sentiment Metrics and Investor Demand,” Luke DeVault, Richard Sias and Laura Starks, Journal of Finance, forthcoming.

"Understanding the risk-return relation: The aggregate wealth proxy actually matters," Scott Cederburg and Michael S. O'Doherty, Journal of Business and Economic Statistics, forthcoming.

2018 Publications

"Conditional benchmarks and predictors of mutual fund performance," Scott Cederburg, Michael S. O'Doherty, N. E. Savin, and Ashish Tiwari, Critical Finance Review, Vol. 7, Issue 2, 2018, 331-372.

"Reconsidering Hedge Fund Contagion," Richard Sias, Harry Turtle and Bela Zykaj, Journal of Alternative InvestmentsVolume 21, number 1, 2018, 27-38.

"Industry Familiarity and Trading: Evidence from the Personal Portfolios of Industry Insiders," Itzhak Ben, David Justin Birru, and Andrea RossiJournal of Financial Economics, September 2018.

"Does Policy Uncertainty Affect Mergers and Acquisitions?" Alice Bonaime, Huseyin Gulen and Mihai Ion, Journal of Financial Economics, Volume 129, Issue 3, September 2018, Pages 531-558.

"Eclipse of the Public Corporation or Eclipse of the Public Markets?" Craig Doidge, Kathleen Kahle, G. Andrew Karolyi, and René M. Stulz, Journal of Applied Corporate Finance, 30, no. 1, Winter 2018, 1-9.

The protection of trade secrets and capital structure decisions,” Sandy Klasa, Hernan Ortiz-Molina, Matthew Serfling, and Shweta Srinivasan, Journal of Financial Economics, Vol. 128, No. 2, 2018, 266-286.

"Director Connectedness: Monitoring Efficacy and Career Prospects,” Vincent Intintoli, Kathleen Kahle and Wanli Zhao, Journal of Financial and Quantitative Analysis, Vol. 53, no. 1, February 2018, 65-108.

"Are stocks riskier over the long run? Taking cues from economic theory," Doron Avramov, Scott Cederburg, and Katarina Lucivjanska, Review of Financial Studies, Vol. 31, Issue 2, February 2018, 556-594.

2017 Publications

"Risk management with supply contracts," Heitor Almeida, Kristine Hankins, Ryan WilliamsReview of Financial Studies, Volume 30, 2017, Pages 4179-4215.

"Tax uncertainty and retirement savings diversification," David C. Brown, Scott Cederburg, and Michael S. O'Doherty, Journal of Financial Economics, Vol. 126, Issue 3, December 2017, Pages 689-712.

"Hedge Fund Return Dependence: Model Misspecification or Liquidity Spirals?" Richard Sias, Harry Turtle, and Blerina Zykaj, Journal of Financial and Quantitative Analysis, Vol. 52, Issue 5, October 2017, pp. 2157-2181. 

"Moral Hazard in Active Asset Management," David Brown and Shaun William Davies, Journal of Financial Economics, Volume 125, Issue 2, August 2017, Pages 311-325.

"Fortune favors the bold," Costanza Meneghetti and Ryan WilliamsJournal of Financial and Quantitative Analysis, June 2017, Volume 52, Issue 3, 895-925.

Is the U.S. public corporation in trouble?Kathleen Kahle and René M. Stulz, Journal of Economic Perspectives, Vol. 31 (3), Summer 2017, 67-88.

"The Timing and Source of Long-run Returns Following Repurchases," Leonce Bargeron, Alice Bonaime, and Shawn Thomas, Journal of Financial and Quantitative Analysis, 2017, 52, 491--517.

"Hedge Fund Politics and Portfolios," Luke DeVault and Richard SiasJournal of Banking and Finance, Vol. 75, February 2017, Pages 80-97.

Trade credit and the joint effects of supplier and customer financial characteristics,” Jaideep Shenoy and Ryan WilliamsJournal of Financial Intermediation, Vol. 29, 2017, 68-80.

2016 Publications

"The Cost of Financial Flexibility: Evidence from Share Repurchases," Alice Bonaime, Kristine Hankins and Bradford Jordan, Journal of Corporate Finance, 2016, 38, 345-362.

Policy Uncertainty and Corporate Investment,” Huseyin Gulen and Mihai IonReview of Financial Studies, Vol. 29 (3), 2016, pages 523-564.

Are ex-ante CEO severance pay contracts consistent with efficient contracting?,” Brian Cadman, John Campbell and Sandy KlasaJournal of Financial and Quantitative Analysis, Vol. 51, No. 3, 2016, 707-735.

"Does it pay to bet against beta? On the conditional performance of the beta anomaly," Scott Cederburg and Michael S. O'Doherty, Journal of Finance, Vol. 71, No. 2, 2016, 737-774.

2015 Publications

Hedge Fund Crowds and Mispricing,” Rick Sias, Harry Turtle, and Blerina Zykaj, Management Science, 2015, Vol. 62(3), 764-784.

"Measuring Private Information in a Specialist Market,'' Chris Lamoureux with Qin Wang, Journal of Empirical Finance, 2015, Vol. 30, 92-119.

"Mandatory Disclosure and Firm Behavior: Evidence from Share Repurchases", Alice BonaimeThe Accounting Review, 2015, 90, 1333--1362. 

"Asset-pricing anomalies at the firm level," Scott Cederburg and Michael S. O'Doherty, Journal of Econometrics, Vol. 186, No. 1, 2015, 113-128.

2014 Publications

"Capital Structure, Equity Mispricing, and the Gains to Stock Repurchases", Alice Bonaime, Ozde Oztekin and Richard Warr, Journal of Corporate Finance, 2014, 26, 182--200.

Industry concentration and corporate disclosure policy,” Ashiq Ali, Sandy Klasa and Eric Yeung, Journal of Accounting and Economics, Vol. 58, No. 2, 2014, 240-264.

Declining propensity to pay?  A re-examination of the lifecycle theory,” Monica Banyi and Kathleen KahleJournal of Corporate Finance, Vol.27, August 2014, 345-366.

Refinancing risk and cash holdings,” Jarrad Harford, Sandy Klasa and William Maxwell, Journal of Finance, Vol. 69, No. 3, 2014, 975-1012. [Lead Article – June Issue]

The effect of demand for shares on the timing and underpricing of seasoned equity offerings,” Vincent Intintoli, Kathleen Kahle, and Shrikant Jategaonkar, Financial Management, 43, no. 1,Spring 2014, 61-86.

"Financial Flexibility, Risk Management, and Payout Policy", Alice Bonaime, Kristine Hankins and Jarrad Harford, Review of Financial Studies, 2014, 27, 1047--1101.