Working Papers

Our original research not yet submitted to a peer-reviewed journal; doctoral dissertations.

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  1. This paper uses a unique sample of commercial loans and mergers between large banks to provide evidence linking credit conditions to economic development and finds a spillover effect on crime.

  2. We propose a robust optimization approach to analyzing three distinct classes of problems related to the notion of equilibrium,

  3. We describe a predictable anomaly in Japanese equities and outline a trading strategy to take advantage of it while covering transaction costs.

  4. At the individual fund level, the author finds no evidence of style-level flows to style categories as predicted by the style investing hypothesis of Barberis and Shleifer. In fact, after controlling for fund returns, flows are negatively related to style performance.

  5. This study aims to develop a global climatology of tropical cyclone (TC) rainfall and to improve our understanding of physical processes that affect the TC rainfall structure and distribution.

  6. We document evidence of overoptimism in sell-side analysts' earnings forecasts, recommendations and target prices that is related to corporate financing activities.

  7. We find that firms sharing directors also tend to share policies concerning governance, finance, disclosure and strategy choices.

  8. A comprehensive analysis of the relationship between a company’s external financing transactions — equity offerings, debt offerings and bank borrowings — and future stock returns.

  9. The effect of market structure on volume, prices, and welfare with applications to real-world auctions

  10. This paper examines a comprehensive sample of firms from 1971 to 2000 to determine the usefulness of accounting information in predicting earnings management.