Publications
- “The Effect of Managers on Systematic Risk” with K. Yeung and L. Zuo, Management Science, June 2022
- "Belief Disagreement and Portfolio Choice." with M. Meeuwis, J. Parker and D. Simester. Journal of Finance Vol. 77, No. 6 (2022): 3191-3247.
- "Cryptocurrencies and Decentralized Finance (DeFi)," with I. Makarov, Brookings Papers on Economic Activity, BPEA Conference Drafts, Spring 2022, 1-71.
- “Investing Outside the Box: Evidence from Alternative Vehicles in Private Equity,” with J. Lerner, J. Mao, and N. Zhang, Journal of Financial Economics, Vol. 143, No. 1 (2022): 359-380. Top 100 Funds, 2018. Top 100 Funds, 2017.
- “Can Unemployment Insurance Spur Entrepreneurial Activity? Evidence from France” with J. Hombert, D. Sraer, and D. Thesmar, The Journal of Finance, 75, June 2020, 1246-1285.
- "Trading and Arbitrage in Cryptocurrency Markets," with I. Makarov, Journal of Financial Economics, (135)2, February 2020, 293-319 .
- "Price Discovery in Cryptocurrency Markets," with I. Makarov, AEA Papers and Proceedings, 109, May 2019, 97-99.
- "The Cost of Political Connections" with M. Bertrand, F. Kramarz and D. Thesmar, Review of Finance, 22(3), May 2018, 849-876.
- "The Impact of Consulting Services on Small and Medium Enterprises: Evidence from a Randomized Trial in Mexico," with M. Bruhn and D. Karlan, Journal of Political Economy, 126(2), April 2018, 635-687.
- "The Globalization of Angel Investments: Evidence Across Countries." with J. Lerner, S. Sokolinski, and K. Wilson, Journal of Financial Economics, 126(2), April 2018, 1-20. Forbes.
- “The Role of Housing and Mortgage Markets in the Financial Crisis,” with M. Adelino and F. Severino, Annual Review of Financial Economics, 10, November 2018, 25-41. Knowable Magazine.
- “Dynamics of Housing Debt in the Recent Boom and Great Recession,” with M. Adelino and F. Severino, NBER Macroeconomics Annual, 32(1), 2018, 265-311.
- “Introduction to" Measuring Entrepreneurial Businesses: Current Knowledge and Challenges," with J. Haltiwanger, E. Hurst, and J. Miranda, Measuring Entrepreneurial Businesses: Current Knowledge and Challenges, September 2017, 1-8.
- “Does Unemployment Insurance Change the Selection into Entrepreneurship?” with J. Hombert, D. Sraer, and D. Thesmar, Measuring Entrepreneurial Businesses: Current Knowledge and Challenges, September 2017, 351-369.
- “Shaped by Booms and Busts: How the Economy Impacts CEO Careers and Management Styles,” with L. Zuo, The Review of Financial Studies, 30 (5), January 2017, 1425-1456.
- "Loan Originations and Defaults in the Mortgage Crisis: The Role of the Middle Class," with M. Adelino, F. Severino, The Review of Financial Studies, 29(7), July 2016, 1635-1670. MIT Sloan Ideas Made to Matter. Quartz. Money Watch.
- "Does the Market Value CEO Styles?" with L. Zuo, American Economic Review, 106(5), May 2016, 262-66.
- "How do CEOs see their roles? Management philosophies and styles in family and non-family firms," with W. Mullins, Journal of Financial Economics, 119(1), January 2016, 24-43.
- "House Prices, Collateral, and Self-employment," with M. Adelino and F. Severino, Journal of Financial Economics, 117(1), August 2015, 288-306.
- “Ex Post (In) Efficient Negotiation and Breakdown of Trade,” with R. Iyer, American Economic Review Papers and Proceedings 105(5), May 2015, 291-94.
- "Do Relationships Matter? Evidence from Loan Officer Turnover," with A. Drexler, Management Science, 60(11) August 2014, 2722-2736.
- "Keeping it Simple: Financial Literacy and Rules of Thumb," with A. Drexler, and G. Fischer, American Economic Journal: Applied Economics, 6(2), April 2014, 1-31.
- "Interbank Liquidity Crunch and the Firm Credit Crunch: Evidence from the 2007-2009 Crisis," with R. Iyer, J. Peydró, and S. da-Rocha-Lopes, The Review of Financial Studies, 27(1), January 2014, 347-372.
- "The Consequences of Entrepreneurial Finance: Evidence from Angel Financings," with W. Kerr and J. Lerner, The Review of Financial Studies, 27 (1), January 2014, 20-55.
- “The Investment Strategies of Sovereign Wealth Funds,” with S. Bernstein, and J. Lerner, Journal of Economic Perspectives, 27(2), Spring 2013, 219-38.
- “Chit Funds as an Innovative Access to Finance for Low-Income Households,” M. Kapoor, P. Rao, and S. Buteau, Review of Market Integration, 3(3), April 2012, 287-333.
- "Stressed not Frozen: The Federal Funds Market after the Financial Crisis," with G. Afonso, and A. Kovner, The Journal of Finance, 66(4), July 2011, 1109-1139.
- "What Capital is Missing in Developing Countries?" with M. Bruhn, and D. Karlan, American Economic Review, 100(2), May 2012, 629-33.
- “The Divide between Subsistence and Transformational Entrepreneurship,” Innovation Policy and the Economy, Vol 1, 2010, 209-240.
- "Secrets of the Academy: Drivers of University Endowment Success," with J. Lerner, and J. Wang, Journal of Economic Perspectives, 22(3), Summer 2008, 207-22.
- "Mixing Family with Business: A Study of Thai Business Groups and the Families Behind Them," with M. Bertrand, S. Johnson, and K. Samphantharak, Journal of Financial Economics, 88(3), June 2008, 466-498.
- "Smart Institutions, Foolish Choices? The Limited Partner Performance Puzzle," with J. Lerner and W. Wong, The Journal of Finance, 62(2), March 2007, 731-764.
- "Banking Deregulation and Industry Structure: Evidence from the 1985 French Banking Act," with M. Bertrand and D. Thesmar, The Journal of Finance, 62(2), March 2007, 597-628.
- "The Role of Family in Family Firms," with M. Bertrand, Journal of Economic Perspectives, 20(2), Spring 2006, 73-96.
- "Private Equity Performance: Returns, Persistence and Capital Flow," with S. Kaplan, The Journal of Finance, 60(4), August 2005, 1791-1823. Venture Beat.
- "Credit and Product Market Effects of Banking Deregulation: Evidence from the French Experience," with M. Bertrand and D. Thesmar, DICE Report - Journal for Institutional Comparisons, 3(3), March 2005, 61-65.
- “Does Legal Enforcement Affect Financial Transactions? The Contractual Channel in Private Equity,” with J. Lerner, The Quarterly Journal of Economics, 120(1), February 2005, 223-246.
- "The Illiquidity Puzzle: Evidence from Private Equity Partnerships," with J. Lerner, Journal of Financial Economics, 72(1), April 2004, 3-40.
- "Managing with Style: The Effect of Managers on Corporate Policy," with M. Bertrand, The Quarterly Journal of Economics, 118(4), November 2003, 1169-1208.
- "Effects of Corporate Diversification on Productivity," The Journal of Finance, 57(6), December 2002, 2379-2403.
Additional Papers
- “Retail Financial Innovation and Stock Market Dynamics: The Case of Target Date Funds” with J. A. Parker and Y. Sun, Journal of Finance, forthcoming, and from the Harvard Law School Forum on Corporate Governance
- "Comment on "Special Deals with Chinese Characteristics" NBER Macroeconomics Annual 2019, volume 34, March 2020, 389-394.
- “Introduction to" International Differences in Entrepreneurship," with J. Lerner, International Differences in Entrepreneurship, May 2012, 1-13.
- “What Happened to US Interbank Lending in the Financial Crisis,” with G. Afonso, A. Kovner, A. Schoar, Vox, April 2010.
- “The Contributions of Stewart Myers to the Theory and Practice of Corporate Finance,” with F. Allen, S. Bhattacharya, and R. Rajan, Journal of Applied Corporate Finance, 20(4), December 2008, 8-19.
