Working Papers

• "Bank Lending, Macroeconomic Conditions and Corporate Investment," with Varouj Aivazian and Xinhua Gu. [pdf]

• "Financial Product Differentiation Over the State Space in the Mutual Fund Industry," with Shujing Li. [pdf]

• "Bank Loan Contracting and Corporate Diversification: Does Organizational Structure Matter to Lenders? " with Varouj Aivazian, Mohammad Rahaman. [pdf] R&R, JFI

• "A Nonlinear Quantile Regression Test of the Pecking Order Model," with Brian Smith. [pdf]

• "Precautionary Savings and Health Insurance: A Portfolio Choice Perspective." [pdf]

• "Endogenous Liquidity in Credit Derivatives," 2012, with Fan Yu, Journal of Financial Economics 103(3), 611-631. [pdf]

• "Managerial Attributes and Executive Compensation," 2012, with John Graham and Si Li, Review of Financial Studies 25(1), 144–186 [pdf]
  

• "Corporate Globalization and Bank Lending," 2011, with Shujing Li and Chi Wan, Journal of International Business Studies 42, 1016-1042. [pdf]

• "The Market for Coporate Control and the Cost of Debt," 2009, with Fan Yu, Journal of Financial Economics, 93(3), 505-524 .[pdf]

• "Public Insurance and Private Savings: Who is Affected and by How Much?" 2009, with Alex Maynard, Journal of Applied Econometrics, March 282-308. [pdf][data and codes]

• "Corporate Misreporting and Bank Loan Contracting," 2008, with John Graham and Si Li, Journal of Financial Economics, 88(3), 44-61. [pdf]

• "Financial Development, Bank Discrimination and Trade Credit," 2007, with Ying Ge, Journal of Banking and Finance, 513-530. [pdf]

• "Corporate Precautionary Cash Holdings," 2007, with Seungjin Han, Journal of Corporate Finance. 43-57.[pdf]

• "A Further Look at Household Portfolio Choice and Health Status," 2006, with Michael Berkowitz, Journal of Banking and Finance, 1201-1217. [pdf]

• "Debt Maturity Structure and Firm Investment", 2005, with Varouj Aivazian and Ying Ge, Financial Management, Winter 107-119.[pdf]

• "Can Corporatization Improve the Performance of SOEs Even Without Privatization?" 2005, with Varouj Aivazian and Ying Ge, Journal of Corporate Finance, 791-808. [pdf]

• "Corporate Governance and Manager Turnover: An Unusual Social Experiment," 2005, with V. Aivazian and Y. Ge, Journal of Banking and Finance, 1459-1481.[pdf]

• "The Impact of Leverage on Firm Investment: Canadian Evidence," 2005, with Varouj Aivazian and Ying Ge, Journal of Corporate Finance, 277-291. [pdf]

• "Termination Risk, Multiple Managers and Mutual Fund Tournaments," 2003, European Finance Review (now Review of Finance), 161-190. [pdf]

• “Ownership, Risk and Performance of Mutual Fund Management Companies,” 2003, with Michael Berkowitz, Journal of Economics and Business, 109-134. [pdf]