Journal Articles

Our original research that has been published in peer-reviewed academic and practitioner journals.

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  1. Using a sample of 2,106 firms, we seek to establish an association between corporate governance and economic outcomes.

  2. A panel of experts concluded that hurricane activity across the Atlantic Ocean, and along the U.S. and Caribbean coasts over the coming five years was expected to be between 20% and 35% higher than the long-term average, depending on storm intensity.

  3. Empirical evidence: when arbitrageurs lose capital and new capital arrives slowly, prices become depressed and later rebound.

  4. Mutual fund portfolio managers take larger positions and earn higher returns in the shares of companies whose executive officers attended the same school.

  5. This paper lays out a decomposition of book-to-price (B/P) that derives from the accounting for book value and that articulates precisely how B/P "absorbs" leverage.

  6. Tighter risk management can lead to illiquidity and lower prices. A multiplier effects arises with liquidity-adjusted risk management.

  7. Venture capital (VC) funds with well-connected parent firms perform significantly better that most, a finding that may be of interest to institutional investors choosing which VC fund to invest in.

  8. This paper provides a comprehensive examination of the negative relationship between external financing activities and future stock returns.

  9. Evidence suggests that overinvestment is concentrated in firms with the highest levels of free cash flow, but the presence of activist shareholders mitigates overinvestment.

  10. We reformulate the asymmetric variational inequality (VI) problem over a conic region as an optimization problem, and give conditions for solvability by commercial packages.