Publications

The Structure and Pricing of Debt Covenants,” with Michael Bradley, 2015, Quarterly Journal of Finance 5, 1-37.
  • Lead Article
  • Formerly entitled, “Are Bond Covenants Priced?”

A Century of Corporate Capital Structure: The Leveraging of Corporate America,” with John R. Graham and Mark T. Leary, 2015, Journal of Financial Economics 118, 658-683.
  • Winner of the Jensen Prize for Best Paper on Corporate Governance and Financial Regulation in the Journal of Financial Economics
  • Posted on Harvard Law School Forum on Corporate Governance and Financial Regulation, April 28, 2015
  • Posted on Vox, May 6, 2014

The Role of Dynamic Renegotiation and Asymmetric Information in Financial Contracting,” 2014, Journal of Financial Economics 116, 61-81.
  • Posted on Harvard Law School Forum on Corporate Governance and Financial Regulation, January 19, 2011

Do Peer Firms Affect Corporate Capital Structure?,” with Mark T. Leary, 2014, Journal of Finance 69, 139-178.
  • Geewax, Terker, and Co. Prize for Best Working Paper published by Rodney L. White Center, 2010

"Endogeneity in Empirical Corporate Finance," with Toni Whited, 2013, Handbook of the Economics of Finance, vol. 2.

Corporate Dividend Policies: Lessons from Private Firms," with Roni Michaely, 2012, Review of Financial Studies 25, 711-746.

"The Pecking Order, Debt Capacity, and Information Asymmetry," with Mark T. Leary, 2010, Journal of Financial Economics 95, 332-355.

"Financial Contracting: A Survey of Empirical Research and Future Directions," with Amir Sufi, 2009, Annual Reviews 1, 207-226.

"The Response of Corporate Financing and Investment to Changes in the Supply of Credit," with Michael Lemmon, 2010, Journal of Financial and Quantitative Analysis 45, 555-587.
  • Lead Article

"Renegotiation of Financial Contracts: Evidence from Private Credit Agreements," with Amir Sufi, 2009, Journal of Financial Economics 93, 159-184.
  • Lead Article

"Control Rights and Capital Structure: An Empirical Investigation," with Amir Sufi, 2009, Journal of Finance 64, 1657-1695.

"Evidence on the Tradeoff Between Risk and Return for IPO and SEO Firms," with Alon Brav, Roni Michaely, and Rebecca Zarutskie, 2009, Financial Management, Summer, 221-252.
  • Lead Article

"How does Financing Impact Investment? The Role of Debt Covenants," with Sudheer Chava, 2008, Journal of Finance 63, 2085 - 2121.
  • Lead Article
  • Nominated for the Brattle Prize in the Journal of Finance
  • Formerly entitled: "Is Financial Contracting Costly? An Empirical Analysis of Debt Covenant Violations"
  • Data: Dealscan-Compustat Link File used in this study

"Back to the Beginning: Persistence and the Cross-Section of Corporate Capital Structure," with Michael Lemmon and Jaime Zender, 2008, Journal of Finance 63, 1575 - 1608.
  • Lead Article
  • Winner of the Brattle Prize for Distinguished Paper in the Journal of Finance

"On the Importance of Measuring Payout Yield: Implications for Empirical Asset Pricing," with Jacob Boudoukh, Roni Michaely, and Matthew Richardson, 2007, Journal of Finance 62, 877 - 915.

"Do Firms Rebalance Their Capital Structures?," with Mark T. Leary, 2005, Journal of Finance 60, 2575 - 2619.
  • Lead Article
  • Winner of the Brattle Price for Distinguished Paper in the Journal of Finance
  • Winner of the Best Paper in Corporate Finance Award, Financial Management Association Conference, 2004
  • Winner of the Best Paper in Corporate Finance Award, Southwestern Finance Association Conference, 2004

"An Empirical Examination of Deregulated Electricity Prices," with Christopher R. Knittel, 2005, Energy Economics 27, 791 - 817.

"Do Price Discreteness and Transactions Costs Affect Stock Returns? Comparing Ex-Dividend Pricing Before and After Decimalization," with John Graham and Roni Michaely, 2003, Journal of Finance 58, 2611-2635.
  • Most votes for the NYSE Best Paper in Asset Pricing, Western Finance Association, 2003

"Response to King's Comment," with David Freedman, Stephen Klein, and Michael Ostland, Journal of the American Statistical Association, March, 1999.

"On 'Solutions' to the Ecological Inference Problem," 1998, Journal of the American Statistical Association, with David Freedman, Stephen Klein, and Michael Ostland, December.

"Consumption and Savings Balances of the Elderly: Experimental Evidence on Survery Response Bias," with Michael Hurd, Daniel McFadden, Harish Chand, Li Gan, and Angela Merrill, 1998, Frontiers in the Economics of Aging, edited by David Wise, National Bureau of Economic Research.