Research

Publications:

  • Foreign Bank Subsidiaries’ Default Risk During the Global Crisis: What Factors Help Insulate Affiliates from Their Parents?”, with Eugenio Cerutti and Soledad Martinez Peria, ,  Journal of Financial Intermediation, forthcoming [download]
  • “How Does Corporate Governance Affect Bank Capitalization Strategies?” with Asli Demirguc-Kunt, Harry Huizinga and Kebin Ma,  Journal of Financial Intermediation, forthcoming [download]
  • “How does Bank Competition affect Systemic Stability”, with Asli Demirguc-Kunt and M. Zhu, Journal of Financial Intermediation, vol. 23, 2014 [download]
  • “How Does Deposit Insurance Affect Bank Risk? Evidence from the Recent Crisis”, with Asli Demirguc-Kunt  and M. Zhu,  Journal of Banking and Finance, vol 48, 2014 [download]
  • “The Chrysler Effect: The Impact of Government Intervention on Borrowing Costs”, with A. Warburton,  Journal of Banking and Finance, vol 40, 2014 [download]
  • “Affect in a Behavioral Asset Pricing Model”, with Meir Statman and Kenneth L. Fisher, Financial Analyst Journal, 64:2, 2010 [download]
  • “Has the Global Banking Sector become more Fragile over Time?” with Asli Demirguc-Kunt, Journal of Financial Stability, vol. 13, 2014 [download]
  • Risk-Absorption by the State: When is it Good Public Policy?” With Augusto de la Torre and Alain Ize, Journal of Financial Stability, vol 10, 2014 [download]
  • “Should Size Matter When Regulating Firms? Implications from Backdating of Executive Options”,  with MP Narayanan, Nejat Seyhun, Cindy Schipani, Journal of Legislation & Public Policy, 15:1, 2012 [download]
  • “Stocks of Admired Companies and Spurned Ones”, with Meir Statman, Journal of Portfolio Management, vol 26, 2010 [download]

Working Papers:

  • “Can Anomalies Survive Insider Disagreements?”, with Nejat Seyhun, Jerry Hoberg  [download]
  • “Corporate Governance and Bank Insolvency Risk: International Evidence”, with Asli Demirguc-Kunt, Harry Huizinga and Kebin Ma. [download]
    • being revised for resubmission to Journal of Financial Economics
  • “The End of Market Discipline? Investor Expectations of Implicit State Guarantees”, with Viral Acharya and Joe Warburton [download].    Senate testimony on implicit guarantees [download]
    • being revised for resubmission to Journal of Finance
  • Is There a Distress Risk Anomaly? Pricing of Systematic Default Risk in the Cross Section of Equity Returns”, with C. Yildizhan [download]
    • being revised for resubmission to Review of Finance
  • Bank Capital and Systemic Stability”, with Asli Demirguc-Kunt [download] [systemic risk data]
  • “Corporate Reputation and Cost of Debt”, with S. Mansi, A. Warburton and C. Yildizhan [download]