Professor of Economics and Finance
MA Wesleyan University Biology 1998 PhD Duke University, NC Finance 2002
Areas of Expertise:
- The effects of investor attention on asset prices;
- The relation between risk and return;
- The impact of market structure design on price efficiency;
- The role of financial intermediaries on market liquidity;
- Corporate governance and optimal executive compensation policies
Liquidity Shocks and Market Reactions (with Turan Bali, Yannan Shen and Yi Tang). Review of Financial Studies, 2014, 27 (5), 1434-1485. Winner of TCFA Best Paper Award
Managerial Incentives and Stock Price Manipulation (with Ailsa Roell). Journal of Finance, 2014, 69, 487–526. (Lead Article)
The Impact of Joint Participation on Liquidity in Equity and Syndicated Bank Loan Markets (with Linda Allen and Aron Gottesman). Journal of Financial Intermediation, 2012, 21(1), 50-78.
Manipulation and Equity-Based Compensation (with Ailsa Roell). American Economic Review, 2008, 98(2): 285-90.
Executive Pay, Earnings Manipulation and Shareholder Lawsuits (with Ailsa Roell). Review of Finance, 2008, 12, 141-184.
Investor Attention, Overconfidence and Category Learning (with Wei Xiong). Journal of Financial Economics, 80, 2006, 563-602.
Learning with Information Capacity Constraints. Journal of Financial and Quantitative Analysis, 40, 2005, 307-329.
- Conference participation:
2014: China International Conference in Finance, Third Symposium on Emerging Financial Markets: China and Beyond.
2013: Triple Crown Conference, Frontiers in Corporate Finance Conference, China International Conference in Finance, Seventh Annual Risk Management Conference Singapore, Summer Institute of Finance.
2012: Conference on Liquidity Risk Management, Financial Management Association Meetings, State Street Quant Forum, TCFA Best Paper Symposium, Deutsche Bank Global Quant Conference, Symposium on China’s Financial Markets.
2011: China International Conference in Finance, The Thirteenth NBER-CCER Conference on China and the World Economy, First Paris spring Corporate Finance Conference
2009: Financial Intermediation Research Society’s 2009 meetings, Mid-Atlantic Research Conference in Finance meeting in Philadelphia, Midwest Finance Association Meeting (Chicago)
2008: Annual Meeting of the Financial Management Association, American Economic Association Meeting
2007: Triple Crown Conference, Financial Management Association Meeting, The 9th Texas Finance Festival (April), American Finance Association Meetings, The 17th Annual Conference on Financial Economics and Accounting
2006: NY Fed/NYU conference on Financial Intermediation, The CRSP Forum, The Financial Intermediation Society Conference on Banking, Corporate Finance and Intermediation, Valuation in Financial Markets.
Referee for Journal of Political Economy, Journal of Finance, Review of Financial Studies, Journal of the European Economic Association, Review of Finance, Journal of Financial Markets, , Journal of Banking and Finance, Journal of Economic Dynamics and Control, Economic Journal, Journal of Empirical Finance, Journal of Financial Econometrics, Financial Review, Southern Economic Journal, Southern Economic Journal, Review of Quantitative Finance and Accounting
Member of American Finance Association, Western Finance Association, Econometric Society
Awards, Honors, etc.:
Wasserman Summer Research Award, 2014, 2013, 2012
Professional Staff Congress-CUNY Research Award, 2014, 2012, 2011, 2010, 2009, 2008, 2007, 2006, 2005, 2004, 2003
Faculty Recognition Award for research excellence, Baruch College, 2013, 2009, 2008, 2007, 2006
The Chinese Finance Association Best Paper Award: "Liquidity Shocks and Market Reactions", 2012
Award for Teaching Excellence, Baruch College, Zicklin School of Business, 2007
Institute for Quantitative Research in Finance (Q-Group) Research Award, 2006
Dean’s Letter for Teaching Excellence, Zicklin School of Business, 2005, 2004, 2003
Eugene M. Lang Junior Faculty Research Fellowship, 2005
Duke University Doctoral Fellowship, 1997-2002
Ph.D. student fellowship, Wesleyan University, 1995-1997