Publications

Highly skilled immigrants and local housing prices: Evidence from the H-1B visa lottery. Journal of Real Estate Research , in press, (with E. Beracha, E. Kim, & Y. Xi)

CFO social capital, liquidity management, and the market value of cash. Journal of Banking & Finance, 163 (2024), 107163 (with C. Anderson & Y. Xi)

Indirect insider trading. Journal of Financial & Quantitative Analysis, 58 (2023), 2327 – 2364 (with B. Goldie, C. Jiang, & P. Koch)

On the relation between innovation and housing prices: A metro level analysis of the US market. Journal of Real Estate Finance & Economics, 65 (2022), 622 – 644 (with E. Beracha, Z. He, & Y. Xi)

Insider trading and the legal expertise of corporate executives. Journal of Banking & Finance, 127 (2021), 106114 (with C. Jiang & Y. Xi)

Partisan bias in fund portfolios. Journal of Financial & Quantitative Analysis, 55 (2020), 1717 – 1754 (with Y. Xi). JFQA High Impact Article in 2020. Media Coverage: CNBC; Reuters; Wall Street Journal; Barrons; Seeking Alpha.

Insider trading patterns. Journal of Corporate Finance, 64 (2020), 101654 (with L. Biggerstaff & D. Cicero)

Friendly directors and the cost of regulatory compliance. Journal of Corporate Finance, 58 (2019), 112 – 141 (with Y. Xi)

Offshore expertise for onshore companies: Director connections to island tax havens and corporate tax policy. Management Science, 64 (2018), 3241 – 3268 (with C. Jiang, T. Kubick, & M. Miletkov)

Foreign independent directors and the quality of legal institutions. Journal of International Business Studies, 48 (2017), 267 – 292 (with M. Miletkov & A. Poulsen). [Supplemental Material]

Do CMO incentives matter? An empirical investigation of CMO compensation and its impact on firm performance. Management Science, 63 (2017), 1993 – 2015 (with N. Bansal, K. Joseph, & M. Ma). Guy O. and Rosa Lee Mabry Award for Best Paper in the KU School of Business, 2017

Director networks and informed traders. Journal of Accounting & Economics, 62 (2016), 1 – 23 (with F. Akbas & F. Meschke). Featured in The Harvard Law School Forum on Corporate Governance and Financial Regulation

The cost of innovation: R&D and high cash holdings in U.S. firms. Journal of Corporate Finance, 41 (2016), 280 – 303 (with Z. He)

Investor protection and the role of firm-level financial transparency in attracting foreign investment. Financial Review, 24 (2015), 393 – 434 (with B. Hansen & M. Miletkov). Nominated (Finalist) for the Financial Review Reader’s Choice Best Paper Award in 2015

Corporate boards and acquirer returns: International evidence. Managerial Finance, 41 (2015), 244 – 266 (with M. Miletkov & S. Moskalev)

The role of corporate board structure in attracting foreign investors. Journal of Corporate Finance, 24 (2014), 143 – 157 (with M. Miletkov & A. Poulsen). Outstanding Paper in International Finance, Eastern Finance Association (EFA) Meeting, 2014

How do public companies adjust their board structures? Journal of Corporate Finance, 23 (2013), 108 – 127 (with D. Cicero & T. Yang)

Advertising investments, information asymmetry and insider gains. Journal of Empirical Finance, 22 (2013), 1 – 15 (with K. Joseph)

Forecasting residential real estate price changes from online search activity. Journal of Real Estate Research, 35 (2013), 283 – 312 (with E. Beracha). Best Paper (Housing Category), 2012 American Real Estate Society (ARES) Meeting

Disentangling the market value of customer satisfaction: Evidence from market reaction to the unanticipated component of ACSI announcements. International Journal of Research in Marketing, 30 (2013), 168 – 178 (with V. Ivanov & K. Joseph)

Endogeneity and the dynamics of internal corporate governance. Journal of Financial Economics, 105 (2012), 581 – 606 (with J. Linck & J. Netter). Featured in The Harvard Law School Forum on Corporate Governance and Financial Regulation. Top 1% in number of citations in the field of Economics & Business and publication year (Web of Science).

The size, concentration and evolution of corporate R&D spending in U.S. firms from 1976 to 2010: Evidence and implications. Journal of Corporate Finance, 18 (2012), 496 – 518 (with M. Hirschey & H. Skiba)

Financial development and the evolution of property rights and legal institutions. Emerging Markets Review, 13 (2012), 650 – 673 (with M. Miletkov)

Implications of data screens on merger and acquisition analysis: A large sample study of mergers and acquisitions from 1992-2009. Review of Financial Studies, 24 (2011), 2316 – 2357 (with J. Netter & M. Stegemoller). Reprinted, Mergers and Acquisitions, (2012), ed. J. H. Mulherin, Edward Elgar Publishing. Guy O. and Rosa Lee Mabry Award for Best Paper in the KU School of Business, 2012

Forecasting abnormal stock returns and trading volume using investor sentiment: Evidence from online search. International Journal of Forecasting, 27 (2011), 1116 – 1127 (with K. Joseph & Z. Zhang)

Legal institutions, democracy and financial sector development. Advances in Financial Economics, 13 (2009), 171 – 196 (with M. Miletkov)

Corporate boards and regulation: The effect of the Sarbanes-Oxley Act and the exchange listing requirements on firm value. Journal of Corporate Finance, 13 (2007), 229 –250. Best Ph.D. Student Paper, 2006 Southern Finance Association (SFA) Meeting