Finance

Recent Publications

2018

Johnson, T. , Liu, P., Yu, Y. 2018. "The Private and Social Value of Capital Structure Commitment"

Huang, R. , Xuan, Y. 2018. "Trading" Political Favors: Evidence from the Impact of the STOCK Act

Reif, J. 2018. Addiction and Social Interactions: Theory and Evidence

Choi, J. , Kim, Y. Forthcoming. Anomalies and Market (Dis)Integration. Journal of Monetary Economics

Choi, J. , Williams, J. Forthcoming. Asymmetric Learning from Price and Post-Earnings Announcement Drift. Contemporary Accounting Research

Clark-Joseph, A. , Joseph, B. Forthcoming. The Economics of Language Diversity and Language Resilience in the Balkans. In Ccile B. Vigouroux & Salikoko S. Mufwene (Ed.), Bridging Linguistics and Economics. Chicago, IL: University of Chicago Press.

Dimmock, S., Gerken, W., Ivkovich, Z., Weisbenner, S. 2018. Capital Gains Lock-In and Governance Choices. Journal of Financial Economics, 127: 113-135

Ersahin, N., Irani, R. Forthcoming. Collateral Shocks and Corporate Employment. Review of Finance

Park, H., Kahn, C. Forthcoming. Collateral, Rehypothecation, and Efficiency. Journal of Financial Intermediation

Peterson, P. 2018. Commodity Derivatives: A Guide for Future Practitioners. New York: Routledge.

Pennacchi, G. , Tchistyi, A. Forthcoming. Contingent Convertibles with Stock Price Triggers: The Case of Perpetuities. Review of Financial Studies

Choi, J. , Shachar, O., Shin, S. Forthcoming. Dealer Liquidity Provision and the Breakdown of the Law of One Price: Evidence from the CDS-Bond Basis. Management Science

van Bekkum, S., Gabarro, M., Irani, R. 2018. Does a Larger Menu Increase Appetite? Collateral Eligibility and Credit Supply. Review of Financial Studies, 31: 943979

Deryugina, T. , Fullerton, D. , Konar, M., Reif, J. 2018. Does crop insurance impact water use? Climate Change Policy Initiative

Kronlund, M. , Gao, X. 2018. Does Dilution Due to Option Exercises Cause Share Repurchases? SSRN Abstract

Pearson, N. , Cao, J., Jin, Y., Tang, D. 2018. Does the Introduction of One Derivative Affect Another Derivative? The Effect of Credit Default Swaps Trading on Equity Options

Deryugina, T. , Kirwan, B. 2018. Does the Samaritan"s Dilemma Matter? Evidence from U.S. Agriculture. Economic Inquiry

Deryugina, T. , Molitor, D. 2018. Does When You Die Depend on Where You Live? Evidence from Hurricane Katrina

Lin, C., Schmid, T., Xuan, Y. 2018. Employee Representation and Financial Leverage. Journal of Financial Economics, 127: 303-324

Flesher, J. Forthcoming. New leader transition and acquisition integration using an evidence-based action learning workshop. In A.D. Ellinger & R.G. Hamlin (Ed.), Evidence-Based Initiatives for Organizational Change and Development. Hershey, PA: IGI Global.

Cohn, J., Deryugina, T. 2018. Firm-Level Financial Resources and Environmental Spills

Johnson, T. , Hackbarth, D., Gu, L. 2018. Inflexibility and Stock Returns. Review of Financial Studies, 31: 278-321

Widdicks, M. , Taylor, S., Tzeng, C. 2018. Information About Price and Volatility Jumps Inferred from Option Prices. Journal of Futures Markets, 1-21

Gao, M. , Huang, J. 2018. Informing the Market: The Effect of Modern Information Technologies on Information Production SSRN Abstract

He, J., Huang, J. , Zhao, S. Forthcoming. Internalizing Governance Externalities: The Role of Institutional Cross-ownership. Journal of Financial Economics SSRN Abstract

Raskie, S. 2018. Managing the Stress of Caregiving: A Guide for Consumers and Financial Advisors. Journal of Accounting & Marketing, 7: 6

Fullerton, D. , Karney, D. 2018. Multiple Pollutants, Co-Benefts, and Suboptimal Environmental Policies. Journal of Environmental Economics and Management, 87: 52-71

Pennacchi, G. , Tchistyi, A. Forthcoming. On Equilibrium when Contingent Capital has a Market Trigger: A Correction to Sundaresan and Wang Journal of Finance (2015). Journal of Finance

Iannotta, G., Pennacchi, G. , Santos, J. Forthcoming. Ratings-Based Regulation and Systematic Risk Incentives. Review of Financial Studies

Choi, J. , Kronlund, M. 2018. Reaching for Yield by Corporate Bond Mutual Funds. Review of Financial Studies, 31: 1930-1965

Huang, J. 2018. The Customer Knows Best: The Investment Value of Consumer Opinions. Journal of Financial Economics, 128: 164182 SSRN Abstract

Deryugina, T. , Kawano, L., Levitt, S. 2018. The Economic Impact of Hurricane Katrina on its Victims: Evidence from Individual Tax Returns. American Economic Journal: Applied Economics

Molitor, D. 2018. The Evolution of Physician Practice Styles: Evidence from Cardiologist Migration. American Economic Journal: Economic Policy, 10: 326-356

Huang, R. 2018. The Financial Consequences of Customer Satisfaction: Evidence from Yelp Ratings and SBA Loans

Agha, L., Molitor, D. 2018. The Influence of Pioneer Investigators on Technology Adoption: Evidence from New Cancer Drugs. Review of Economics and Statistics, 100: 29-44

Singh, P. 2018. The Inside Job: Share pledges by Insiders and Earnings Management (Job Market Paper)

Kahn, C. 2018. The Threat of Privacy. Journal of Financial Market Infrastructures, 6: 21-30

Raskie, S. , Martin, J., Lemoine, C., Cummings, B. 2018. The Value of Financial Designations: A Consumer Perspective. Journal of Financial Planning, 31: 10

Huang, R. , Gu, L., Tian, X., Mao, Y. 2018. Trade Secret Laws, Labor Mobility, and Investment: Evidence from Venture Capital

Jones, D., Molitor, D. , Reif, J. 2018. What Do Workplace Wellness Programs Do? Evidence from the Illinois Workplace Wellness Study

Johnson, T. , Liang, M., Liu, Y. 2018. What Drives Index Option Exposure? Review of Finance

Wu, Y. 2018. What"s Behind the Smooth Dividends? Evidence from Structural Estimation. Review of Financial Studies

Ye, M. , Yao, C. 2018. Why Trading Speed Matters: A Tale of Queue Rationing under Price Controls, Forthcoming. Review of Financial Studies, 31: 21572183

Deryugina, T. , MacKay, A., Reif, J. 2017. The Long-Run Dynamics of Electricity Demand: Evidence from Municipal Aggregation

Tchistyi, A. , DeMarzo, P. 2015. Risking Other People"s Money: Gambling, Limited Liability, and Optimal Incentives SSRN Abstract

Deryugina, T. , Heutel, G., Miller, N. , Molitor, D. , Reif, J. 2015. The Mortality and Medical Costs of Air Pollution: Evidence from Changes in Wind Direction

Clark-Joseph, A. 2014. Exploratory Trading

Clark-Joseph, A. , Mendel, B., Graves, D. 2014. Recurrence-Based Estimation of Fundamental Dimension

2017

Deryugina, T. , Kirwan, B. 2018. Does the Samaritan"s Dilemma Matter? Evidence from U.S. Agriculture. Economic Inquiry

Flesher, J. Forthcoming. New leader transition and acquisition integration using an evidence-based action learning workshop. In A.D. Ellinger & R.G. Hamlin (Ed.), Evidence-Based Initiatives for Organizational Change and Development. Hershey, PA: IGI Global.

Choi, J. , Kronlund, M. 2018. Reaching for Yield by Corporate Bond Mutual Funds. Review of Financial Studies, 31: 1930-1965

Deryugina, T. , Kawano, L., Levitt, S. 2018. The Economic Impact of Hurricane Katrina on its Victims: Evidence from Individual Tax Returns. American Economic Journal: Applied Economics

Molitor, D. 2018. The Evolution of Physician Practice Styles: Evidence from Cardiologist Migration. American Economic Journal: Economic Policy, 10: 326-356

Agha, L., Molitor, D. 2018. The Influence of Pioneer Investigators on Technology Adoption: Evidence from New Cancer Drugs. Review of Economics and Statistics, 100: 29-44

Kahn, C. 2018. The Threat of Privacy. Journal of Financial Market Infrastructures, 6: 21-30

Ye, M. , Yao, C. 2018. Why Trading Speed Matters: A Tale of Queue Rationing under Price Controls, Forthcoming. Review of Financial Studies, 31: 21572183

Trembacki, M. , Kamerick, E. 2017. 5 Rs to Demystify Cybersecurity. Directors and Boards

Pearson, N. , Choi, J. , Sandy, S. 2017. A First Glimpse into the Short Side of Hedge Funds

Almeida, H. , Acharya, V., Perez-Orive, A. 2017. A New Perspective on Bank-Dependency: The Liquidity Insurance Channel

Brown, J. , Huang, J. 2017. All the Presidents Friends: Political Access and Firm Value SSRN Abstract

Huang, R. 2017. Are Open Market Share Repurchase Programs Really Flexible?

Kahn, C. , Linares-Zegarra, J., Stavins , J. 2017. Are there Social Spillovers in Consumers Security Assessments of Payment Instruments? Journal of Financial Services Research, 52: 5-34

Pennacchi, G. 2017. Banks, Taxes, and Nonbank Competition. Journal of Financial Services Research

Miller, N. 2017. Blowing Smoke: Health Effects of Wildfire Plume Dynamics

Johnson, T. , Deuskar, P. 2017. Central Banks and Dynamics of Bond Market Liquidity

Trembacki, M. 2017. Closing the Cybersecurity Risk Door. Intelligent Risk

Choi, J. , Hackbarth, D., Zechner, J. Forthcoming. Corporate Debt Maturity Profiles. Journal of Financial Economics

Almeida, H. , Acharya, V., Ippolito, F., Perez-Orive, A. 2017. Credit Lines and the Liquidity Insurance Channel

Deryugina, T. , Konar, M. 2017. Crop insurance increases water withdrawals for irrigation in agriculture. Advances in Water Resources

Ye, M. , Clark-Joseph, A. , Zi, C. 2017. Designated Market Makers Still Matter: Evidence from Two Natural Experiments. Journal of Financial Economics, 126: 652-667

Raskie, S. 2017. Developing Personal Financial Planning as an Academic Discipline. Journal of Accounting & Marketing, 6: 17

Huh, J., Reif, J. 2017. Did Medicare Part D Reduce Mortality? Journal of Health Economics, 53: 17-37

Ye, M. , Chao, Y., Yao, C. Forthcoming. Discrete Pricing and Market Fragmentation: a Tale of Two-Sided Markets. American Economic Review: Papers & Proceedings

Raskie, S. , Martin, J., Herbison, G. 2017. Do Designations Attract A More Knowledgeable Consumer? Journal of Financial Service Professionals

Almeida, H. , Hankins, K., Williams, R. 2017. Do Firms Hedge During Distress?

Fullerton, D. , Konar, M., Reif, J. 2017. Does a Carbon Policy Really Burden Low-Income Families? Climate Change Policy Initiative

Wang, J. , Gross, T., Swanson, A., Allen, H. 2017. Early Medicaid Expansion Reduced Payday Borrowing Among Low-Income Adults in California. Health Affairs, 36(10)

Jena, A., Olenski, A., Molitor, D. , Miller, N. 2017. Feeling it in your bones: A retrospective claims analysis of the association between rainfall and diagnosis of joint or back pain.. British Medical Journal, 359: j5326

Almeida, H. , Kim, H., Kim, C. 2017. Introduction: New Perspectives on Corporate Capital Structures. Journal of Finance

Miller, N. , Jensen, R. 2017. Keepin" "Em Down on the Farm: Migration and Strategic Investment in Children"s Schooling

Irani, R. , R. Meisenzahl, R. 2017. Loan Sales and Bank Liquidity Management: Evidence from a U.S. Credit Register. Review of Financial Studies, 30: 34553501

Peterson, P. , Choi, J. 2017. Metallgesellschaft RevisitedNCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management

Wang, J. , Keys, B. Forthcoming. Minimum Payments and Debt Paydown in Consumer Credit Cards. Journal of Financial Economics

Almeida, H. , Hsu, P., Li, D., Tseng, K. 2017. More Cash, Less Innovation: The Effect of the American Jobs Creation Act of Patent Vlaue

Raskie, S. 2017. Navigating Uncertainties in Accumulation and Decumulation of Retirement Portfolios. Journal of Economics and Public Finance

Singh, P. 2017. On the Value Implications of Insider Pledging of Shares (Best Ph.D. Student Paper Award, Southern Finance Association 2018)

Pearson, N. , Muravyev, D. 2017. Option Trading Costs Are Lower Than You Think

Huang, J. , Xu, N., Yu, H. 2017. Pollution and Performance: Do Investors Make Worse Trades on Hazy Days? SSRN Abstract

Pearson, N. , Henderson, B., Wang, L. 2017. Pre-Trade Hedging

He, J., Huang, J. 2017. Product Market Competition in a World of Cross-ownership: Evidence from Institutional Blockholdings. Review of Financial Studies, 30: 2674-2718 SSRN Abstract

Fullerton, D. , Ta, C. 2017. Public Finance in a Nutshell: A Cobb Douglas Teaching Tool for General Equilibrium Tax Incidence and Excess Burden. National Tax Journal, 70: 155-170

Almeida, H. , Kristine, H., Williams, R. 2017. Risk Management with Supply Contracts. Review of Financial Studies, 30: 41794215 SSRN Abstract

Chinco, A. , Clark-Joseph, A. , Ye, M. Forthcoming. Sparse Signals in the Cross-section of Returns. Journal of Finance

Wang, J. , Gross, T., Deshpande, M. 2017. The Effect of Government Cash Assistance on Household Financial Outcomes

Almeida, H. , Huang, R. , Liu, P., Xuan, Y. 2017. The Effect of Obamacare on Firm Employment and Performance

Deryugina, T. 2017. The Fiscal Cost of Hurricanes: Disaster Aid versus Social Insurance. American Economic Journal: Economic Policy

Lakdawalla, D., Malani, A., Reif, J. 2017. The Insurance Value of Medical Innovation. Journal of Public Economics, 94-102

Deryugina, T. , MacKay, A., Reif, J. 2017. The Long-Run Dynamics of Electricity Demand: Evidence from Municipal Aggregation

Almeida, H. , Cunha, I., Ferreira, M., Restrepo, F. 2017. The Real Effects of Credit Ratings: The Sovereign Ceiling Channel. Journal of Finance, 249-290

Almeida, H. , Carvalho, D., Kim, T. 2017. Understanding the Credit Multiplier: The Working Capital Channel

Ye, M. , Wang, X. 2017. Who Supplies Liquidity, and When?

Ye, M. , Yong, C., Yao, C. Forthcoming. Why Discrete Price Fragments U.S. Stock Exchanges and Disperses Their Fee Structures, Conditionally Accepted. Review of Financial Studies

Almeida, H. , Cheng, Y. 2017. Why Do Firms Tie Compensation to Earnings-per-share (EPS)?

Pennacchi, G. 2016. A Reexamination of Contingent Convertibles with Stock Price Triggers SSRN Abstract

Tchistyi, A. , Piskorski, T. 2016. An Equilibrium Model of Housing and Mortgage Markets with State-Contingent Lending Contracts SSRN Abstract

Tchistyi, A. , Albul, B., Jaffee, D. 2016. Contingent Convertible Bonds and Capital Structure Decisions SSRN Abstract

Pennacchi, G. 2016. On Equilibrium when Contingent Capital has a Market Trigger: A Correction to Sundaresan and Wang Journal of Finance (2015)

Miller, N. , Heutel, G., Molitor, D. 2015. Adaptation and the Mortality Effects of Temperature across US Climate Regions

Pearson, N. , Park, Y., Lee, I. 2015. Repurchases after Being Well Known as Good News

Chinco, A. 2015. Sparse Signals in the Cross-Section of Returns

Choi, J. , Kronlund, M. 2014. Reaching for Yield by Corporate Bond Mutual Funds

Deryugina, T. , Hsiang, S. 2014. The Marginal Product of Climate

2016

Dimmock, S., Gerken, W., Ivkovich, Z., Weisbenner, S. 2018. Capital Gains Lock-In and Governance Choices. Journal of Financial Economics, 127: 113-135

Johnson, T. , Liang, M., Liu, Y. 2018. What Drives Index Option Exposure? Review of Finance

Ye, M. , Clark-Joseph, A. , Zi, C. 2017. Designated Market Makers Still Matter: Evidence from Two Natural Experiments. Journal of Financial Economics, 126: 652-667

Deryugina, T. 2017. The Fiscal Cost of Hurricanes: Disaster Aid versus Social Insurance. American Economic Journal: Economic Policy

Pennacchi, G. 2016. A Reexamination of Contingent Convertibles with Stock Price Triggers SSRN Abstract

Tchistyi, A. , Piskorski, T. 2016. An Equilibrium Model of Housing and Mortgage Markets with State-Contingent Lending Contracts SSRN Abstract

Irani, R. , Oesch, D. 2016. Analyst Coverage and Real Earnings Management: Quasi-Experimental Evidence. Journal of Financial and Quantitative Analysis, 51: 589-627

Johnson, T. , Acharya, V., Yalin, G. 2016. Bank Use of Sovereign CDS in the Eurozone Crisis: Hedging and Risk Incentive

Gao, M. , Huang, J. 2016. Capitalizing on Capitol Hill: Informed Trading by Hedge Fund Managers. Journal of Financial Economics, 121: 521-545 SSRN Abstract

Kahn, C. , Quinn, S., Roberds, W. 2016. Central Banks and Payment Systems: The Evolving Trade-off between Cost and Risk. In Michael D. Bordo, Oyvind Eitrheim, Marc Flandreau and Jan F. Qvigstad (Ed.), Central Banks at a Crossroads: What Can We Learn from History?, 563-609. Cambridge, England: Cambridge University Press.

Kahn, C. , Park, H. 2016. Collateral chains and Incentives. Journal of Financial Market Infrastructures, 5: 1-16

Wu, Y. , Whited, T., Li, S. 2016. Collateral, Taxes, and Leverage. Review of Financial Studies, 29: 14531500

Tchistyi, A. , Albul, B., Jaffee, D. 2016. Contingent Convertible Bonds and Capital Structure Decisions SSRN Abstract

Brown, J. , Farrell, A., Weisbenner, S. 2016. Decision-Making Approaches and the Propensity to Default: Evidence and Implications. Journal of Financial Economics, 121: 477-495

Pennacchi, G. , Brown, J. 2016. Discounting Pension Liabilities: Funding versus Value. Journal of Pension Economics and Finance, 15: 254-284

Kronlund, M. 2016. Do Bond Issuers Shop for Favorable Credit Ratings? SSRN Abstract

Pearson, N. , Poteshman, A., White, J., Ni, X. 2016. Does Option Trading Have a Pervasive Impact on Underlying Stock Prices?

Kronlund, M. , Sandy, S. 2016. Does Shareholder Scrutiny Affect Executive Compensation? Evidence from Say-on-Pay Voting SSRN Abstract

Fullerton, D. , Nafari, K., Reif, J. 2016. Gas Taxes in Illinois: Efficiency and Distributional Effects. State Tax Notes

Trembacki, M. 2016. Influencing Your Organization"s Risk Culture. Intelligent Risk

Wang, J. , Burke, K., Leary, J. 2016. Information Disclosure and Payday Lending in Texas

Fos, V., Kronlund, M. 2016. Introduction: New Perspectives on Corporate Capital Structures. Journal of Financial Economics

Choi, J. , Shin, S. 2016. Is There Flow-Driven Price Impact in Corporate Bond Markets

France, V. , Kahn, C. 2016. Law as a constraint on bailouts: Emergency support for central counterparties. Journal of Financial Intermediation, 28, Issue C: 22-31

Wang, J. , Leary, J. 2016. Liquidity Constraints and Budgeting Mistakes: Evidence from Social Security Recipients

Pearson, N. , Yilmaz, H. 2016. Maximum Likelihood Estimation of Covariance Matrices with Constraints on the Efficient Frontier. International Journal of Computational Economics and Econometrics, 6: 71-91

Choi, J. , Ben-Repheal, A., Goldstein, I. 2016. Mutual Fund Flows and Fluctuation in Credit and Business Cycles

Pennacchi, G. 2016. On Equilibrium when Contingent Capital has a Market Trigger: A Correction to Sundaresan and Wang Journal of Finance (2015)

Choi, J. , Richardson, M., Whitelaw, R. 2016. On the Interest Rate Sensitivity of Corporate Securities: Implications at the Firm and Index Level

Kahn, C. , Carbo-Valverde, S. 2016. Payment Systems in the US and Europe: Efficiency, Soundness and Challenges. Financial Stability Journal (Bank of Spain), 11-33

Johnson, T. 2016. Rethinking Reversals. Journal of Financial Economics

Bansal, R., Kiku, D. , Yaron, A. 2016. Risks for the Long Run: Estimation with Time Aggregation. Journal of Monetary Economics

Liu, P., Xuan, Y. 2016. The Contract Year Phenomenon in the Corner Office: An Analysis of Firm Behavior During CEO Contract Renewals

Gompers, P., Mukharlyamov, V., Xuan, Y. 2016. The Cost of Friendship. Journal of Financial Economics, 119: 626-644

Bruegge, C., Deryugina, T. , Myers, E. 2016. The Distributional Consequences of Building Energy Codes. Journal of the Association of Environmental and Resource Economists

Deryugina, T. , Shurchkov, O. 2016. The effect of information provision on public consensus about climate change. PLOS ONE

Wang, J. , Gross, T., Notowidigdo, M. 2016. The Marginal Propensity to Consume Over the Business Cycle

Almeida, H. , Fos, S., Kronlund, M. 2016. The Real Effects of Share Repurchases. Journal of Financial Economics SSRN Abstract

Bernhardt, M. , Xiao, Z., Wan, C. 2016. The Reluctant Analyst. Journal of Accounting Research, 54: 987-1040

Choi, J. , Richardson, M. 2016. The Volatility of a Firm"s Assets and the Leverage Effect. Journal of Financial Economics, 121: 254-277

Peterson, P. , Choi, J. 2016. Chapter 9. Agricultural Futures Markets. In A.G. Malliaris and W.T. Ziemba (Ed.), The World Scientific Handbook of Futures Markets, 289-323. World Scientific Publishing Co..

Johnson, T. 2016. Uncertainty Shocks, Aggregate Debt, and the Real Effects of Corporate Finance

Baker, M., Xuan, Y. 2016. Under New Management: Equity Issues and the Attribution of Past Returns. Journal of Financial Economics, 121: 66-78

Ai, H., Kiku, D. 2016. Volatility Risks and Growth Options. Management Science

Widdicks, M. , Sun, L. 2016. Why Do Employees Like To Be Paid With Options?: A Multi-period Prospect Theory Approach. Journal of Corporate Finance, 38: 106 - 125

Pearson, N. , Ge, L., Lin, T. 2016. Why Does the Option to Stock Volume Ratio Predict Stock Returns? Journal of Financial Economics, 120: 601-622

2015

Brown, J. , Farrell, A., Weisbenner, S. 2016. Decision-Making Approaches and the Propensity to Default: Evidence and Implications. Journal of Financial Economics, 121: 477-495

Pennacchi, G. , Brown, J. 2016. Discounting Pension Liabilities: Funding versus Value. Journal of Pension Economics and Finance, 15: 254-284

France, V. , Kahn, C. 2016. Law as a constraint on bailouts: Emergency support for central counterparties. Journal of Financial Intermediation, 28, Issue C: 22-31

Pearson, N. , Yilmaz, H. 2016. Maximum Likelihood Estimation of Covariance Matrices with Constraints on the Efficient Frontier. International Journal of Computational Economics and Econometrics, 6: 71-91

Johnson, T. 2016. Rethinking Reversals. Journal of Financial Economics

Pearson, N. , Ge, L., Lin, T. 2016. Why Does the Option to Stock Volume Ratio Predict Stock Returns? Journal of Financial Economics, 120: 601-622

Fullerton, D. , Gan, L., Hattori, M. 2015. A Model to Evaluate Vehicle Emission Incentive Policies in Japan. Environmental Economics and Policy Studies, 17: 79-108

Miller, N. , Heutel, G., Molitor, D. 2015. Adaptation and the Mortality Effects of Temperature across US Climate Regions

Hilscher, J., Pollet, J. , Wilson, M. 2015. Are credit default swaps a sideshow? Evidence that information flows from equity to CDS markets. Journal of Financial and Quantitative Analysis, 50: 543-567

Fullerton, D. , Konar, M., Reif, J. 2015. Cashing in on Cutting Carbon: U.S. Clean Carbon Plan Gives Illinois a Chance for Significant State Revenue". Illinois Issues

Peterson, P. 2015. Contango and Backwardation as Predictors of Commodity Price DirectionNCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management

Pennacchi, G. , Park, K., Han, J. 2015. Corporate Taxes and Securitization. Journal of Finance, 70: 1287-1321

Zi, C. 2015. Designated Market-Makers Still Matter: Evidence from two Natural Experiments

Deryugina, T. , Shurchkov, O. 2015. Does Beauty Matter in Undergraduate Education? Economic Inquiry, 53: 940-961

Fullerton, D. , Nafari, K., Reif, J. 2015. Efficiency and distributional effects of Illinois Gas taxes. Climate Change Policy Initiative

Brown, J. , Ivkovich, Z., Weisbenner, S. 2015. Empirical Determinants of Intertemporal Choice. Journal of Financial Economics, 116: 473-486

Bernhardt, M. , Graham, B. 2015. Flexibility vs Protection from an Unrepresentative Legislative Majority. Games and Economics Behavior, 93: 59-88

Fullerton, D. , Konar, M., Reif, J. 2015. Francis" Call for Action on Climate Change is Opportunity for Illinois. Crain"s Chicago Business

Njavro, M., Xuan, Y. 2015. Atlantic Grupa. In Harvard Business School Case 215-077 and Teaching Note 215-078. Boston, MA: Harvard Business Publishing.

Brown, J. , Dimmock, S., Weisbenner, S. 2015. The Supply and Demand for Charitable Donations to Higher Education.. In Jeffrey R. Brown and Caroline M. Hoxby (Ed.), How the Financial Crisis and Great Recession Affected Higher Education, 151-174. Chicago, IL: University of Chicago Press.

Kahn, C. , Linares-Zegarra, J. 2015. Identity Theft and Consumer Payment Choice: Does Security Really Matter? Journal of Financial Services Research

Fullerton, D. , Konar, M., Reif, J. 2015. Illinois" Climate is Changing. Illinois Issues

Pearson, N. , Kitwiwattanachai, C. 2015. Inferring Correlations of Asset Values and Distances-to-Default from CDS Spreads: A Structural Model Approach. Review of Asset Pricing Studies, 112-154

Chemmanur, T., Hu, G., Huang, J. 2015. Institutional Investors and the Information Production Theory of Stock Splits. Journal of Financial and Quantitative Analysis, 50: 413-445 SSRN Abstract

Almeida, H. , Kim, H., Kim, C. 2015. Internal Capital Markets in Business Groups: Evidence from the Asian Financial Crisis. Journal of Finance, 2539-2586

Malani, A., Reif, J. 2015. Interpreting Pre-trends as Anticipation: Impact on Estimated Treatment Effects from Tort Reform. Journal of Public Economics, 1-17

Almeida, H. , Acharya, V., Baker, M. 2015. Introduction: New Perspectives on Corporate Capital Structures. Journal of Financial Economics

Bernhardt, M. , Camara, O. 2015. Learning about Challenges. Games and Economics Behavior, 90: 181-206

Bernhardt, M. , Taub, B. 2015. Learning about Common and Private Values in Oligopoly. RAND Journal of Economics, 45: 66-85

Kahn, C. 2015. Evolution of money and payment systems: private versus public institutions and the role of collateral. In Pietro Catte, Andrea Gerali, Franco Passacantando (Ed.), Money and Monetary Institutions after the Crisis: Proceedings of the Conference in Memory of Curzio Giannini, 163-188. Banca d"Italia.

Bernhardt, M. , Graham, B. 2015. Multiproduct Bertrand Oligopoly with Exogenous and Endogenous Consumer Heterogeneity

Pearson, N. , Henderson, B., Wang, L. 2015. New Evidence on the Financialization of Commodity Markets. Review of Financial Studies, 28: 1285-1311

Deryugina, T. , Shurchkov, O. 2015. Now you see it, now you don"t: the vanishing beauty premium. Journal of Economic Behavior and Organization, 116: 331-345

Trefzger, J., Cannaday, R. 2015. NPV of Refinancing: Rethinking the Borrower"s Discount Rate. Journal of Real Estate Practice and Education, 18: 1-33

Lakdawalla, D., Reif, J. 2015. Health, Body Weight, and Obesity. In John Komlos and Inas Rashad Kelly (Ed.), Oxford Handbook of Economics and Human Biology. Oxford: Oxford University Press.

Baylis, K., Deryugina, T. , Fullerton, D. , Konar, M., Reif, J. 2015. Preparing for Climate Change in Illinois: An Overview of Anticipated Impacts. Climate Change Policy Initiative

Johnson, T. , Hackbarth, D. 2015. Real Options and Risk Dynamics. Review of Economic Studies, 82: 1449-1482

Antinolfi, G., Carapella, F., Kahn, C. , Martin, A., Mills, D., Nosal, E. 2015. Repos, Fire Sales and Bankruptcy Policy. Review of Economic Dynamics, 18: 21-31

Pearson, N. , Park, Y., Lee, I. 2015. Repurchases after Being Well Known as Good News

Jegadeesh, N., Roman, K., Pollet, J. 2015. Risk and Expected Returns of Private Equity Investments: Evidence Based on Market Prices. Review of Financial Studies, 28: 3269-3302

Tchistyi, A. , DeMarzo, P. 2015. Risking Other People"s Money: Gambling, Limited Liability, and Optimal Incentives SSRN Abstract

Bernhardt, M. , Boulatov, A. 2015. Robustness of Equilibrium in the Kyle Model of Informed Speculation. Annals of Finance, 11: 297-318

Huang, J. 2015. Shareholder Coordination and the Market for Corporate Control SSRN Abstract

Chinco, A. 2015. Sparse Signals in the Cross-Section of Returns

Bernhardt, M. , Shadmehr, M. 2015. State Censorship. American Economic Journal: Applied Economics, 280-307

Peterson, P. , Choi, J. 2015. The First Mover Advantage as a Determinant of Trading Volume for East Asian Futures Markets. International Journal of Applied Economics and Econometrics, 23: 75-88

Lakdawalla, D., Malani, A., Reif, J. 2015. The Complex Relationship Between Healthcare Reform and Innovation. In Malani and Schill (Ed.), The Future of Healthcare Reform. Chicago: The University of Chicago Press.

Deryugina, T. , Heutel, G., Miller, N. , Molitor, D. , Reif, J. 2015. The Mortality and Medical Costs of Air Pollution: Evidence from Changes in Wind Direction

Fullerton, D. , Konar, M., Reif, J. 2015. To Pay for Illinois Road Improvements, Think Like a Business. The State Journal-Register

Bernhardt, M. , Lee, F. 2015. Trial Incentives in Sequential Litigation. American Law & Economic Review, 17: 214-244

Fullerton, D. , Vrouenraets, M. 2015. Wind Power: An Opportunity for Illinois. Climate Change Policy Initiative

2014

Almeida, H. , Cunha, I., Ferreira, M., Restrepo, F. 2017. The Real Effects of Credit Ratings: The Sovereign Ceiling Channel. Journal of Finance, 249-290

Kahn, C. , Quinn, S., Roberds, W. 2016. Central Banks and Payment Systems: The Evolving Trade-off between Cost and Risk. In Michael D. Bordo, Oyvind Eitrheim, Marc Flandreau and Jan F. Qvigstad (Ed.), Central Banks at a Crossroads: What Can We Learn from History?, 563-609. Cambridge, England: Cambridge University Press.

Peterson, P. , Choi, J. 2016. Chapter 9. Agricultural Futures Markets. In A.G. Malliaris and W.T. Ziemba (Ed.), The World Scientific Handbook of Futures Markets, 289-323. World Scientific Publishing Co..

Deryugina, T. , Shurchkov, O. 2015. Does Beauty Matter in Undergraduate Education? Economic Inquiry, 53: 940-961

Pearson, N. , Kitwiwattanachai, C. 2015. Inferring Correlations of Asset Values and Distances-to-Default from CDS Spreads: A Structural Model Approach. Review of Asset Pricing Studies, 112-154

Kahn, C. 2015. Evolution of money and payment systems: private versus public institutions and the role of collateral. In Pietro Catte, Andrea Gerali, Franco Passacantando (Ed.), Money and Monetary Institutions after the Crisis: Proceedings of the Conference in Memory of Curzio Giannini, 163-188. Banca d"Italia.

Pearson, N. , Henderson, B., Wang, L. 2015. New Evidence on the Financialization of Commodity Markets. Review of Financial Studies, 28: 1285-1311

Antinolfi, G., Carapella, F., Kahn, C. , Martin, A., Mills, D., Nosal, E. 2015. Repos, Fire Sales and Bankruptcy Policy. Review of Economic Dynamics, 18: 21-31

Peterson, P. , Choi, J. 2015. The First Mover Advantage as a Determinant of Trading Volume for East Asian Futures Markets. International Journal of Applied Economics and Econometrics, 23: 75-88

Peters, S. 2014. "Discrimination & Favoritism in Professional Sports."

Peters, S. 2014. "Theory & Evidence of "Fair-Weather Fans" in Professional Sports,"

Widdicks, M. , Zhao, J. 2014. A Model of Equity Based Compensation with Tax.. Journal of Business Finance and Accounting, 41: 1002-1041

Miller, N. , Jensen, R. 2014. A Revealed Preference Approach to Measuring Hunger and Undernutrition.

Ishii, J., Xuan, Y. 2014. Acquirer-Target Social Ties and Merger Outcomes. Journal of Financial Economics, 112: 344-363

Widdicks, M. , Taylor, S., Tzeng, C. 2014. Bankruptcy probabilities inferred from option prices. Journal of Derivatives, 22: 8-31

Elliott, J., Fullerton, D. 2014. Can a Unilateral Carbon Tax Reduce Emissions Elsewhere? Resource and Energy Economics, 36: 6-21

Ye, M. , Da, Z., Chawla, N., Xu, J. 2014. Catching fire: An intraday analysis of information diffusion using retweet data

Kolstad, C., Fullerton, D. , and others, . 2014. Social, Economic, and Ethical Concepts and Methods. In IPCC (Ed.), Climate Change Mitigation (Volume III of the Fifth Assessment Report). Intergovernmental Panel On Climate Change.

Pennacchi, G. , Vermaelen, T., Wolff, C. 2014. Contingent Capital: The Case of COERCs. Journal of Financial and Quantitative Analysis, 49: 541-574

Almeida, H. , Acharya, V., Ippolito, F. 2014. Credit Lines as Monitored Liquidity Insurance: Theory and Evidence. Journal of Financial Economics, 287-319

Brown, J. , Weisbenner, S. 2014. Defined Contribution Plans as a Foundation for Retirement Security. Journal of Retirement, 1: 22-45

Bernhardt, M. , Bengtsson, L. 2014. Different Problem, Same Solution: Contract-Specialization in Venture Capital. Journal of Economics and Management Strategy, 23: 396-426

Widdicks, M. , Pinto, H. 2014. Do compensation plans with performance targets provide better incentives? Journal of Corporate Finance, 29: 662-694

Peterson, P. 2014. Trading Volume and Growth Characteristics of East Asian Futures Markets. In J.W. Choi, C.H. Yun, and M.S. Miller (Ed.), Economic and Financial Asymmetries in Ongoing Crises, 165-173. Sidma Press.

Clark-Joseph, A. 2014. Exploratory Trading

Waspi, CFA, K. 2014. Financial Markets, A Practicum

Waspi, CFA, K. , Oltheten, E. 2014. Financial Markets, A Practicum, GRT Technologies (Kendall-Hunt)

Fullerton, D. , Reif, J. 2014. Gas tax may hurt Illinois more than it helps. The State Journal-Register

Gompers, P., Mukharlyamov, V., Weisburst, E., Xuan, Y. 2014. Gender Effects in Venture Capital

Fos, V., Kahn, C. 2014. Governance through Threats of Intervention and Exit

Peterson, P. 2014. How Large is the Agricultural Swaps Market?NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management. University of Illinois.

Brown, J. , Dimmock, S., Kang, J., Weisbenner, S. 2014. How University Endowments Respond to Financial Market Shocks: Evidence and Implications. American Economic Review, 104: 931-962

Wang, J. , Notowidigdo, M., Gross, T. 2014. Liquidity Constraints and Consumer Bankruptcy: Evidence from Tax Rebates. Review of Economics and Statistics, 96(3)

Chinco, A. 2014. Local Knowledge in Financial Markets

Chinco, A. , Mayer, C. 2014. Misinformed Speculators and Mispricing in the Housing Market

Baylis, K., Fullerton, D. , Karney, D. 2014. Negative Leakage. Journal of the Association of Environmental and Resource Economists, 1: 51-73

Chinco, A. 2014. No Confidence, No Story

Johnson, T. , Lee, J. 2014. On the Systemantic Volatility of Unpriced Earnings. Journal of Financial Economics

Choi, J. , Kronlund, M. 2014. Reaching for Yield by Corporate Bond Mutual Funds

Clark-Joseph, A. , Mendel, B., Graves, D. 2014. Recurrence-Based Estimation of Fundamental Dimension

Tchistyi, A. 2014. Security Design with Correlated Hidden Cash Flows: The Optimality of Performance Pricing SSRN Abstract

Huang, J. 2014. Shareholder Coordination, Corporate Governance, and Firm Value SSRN Abstract

Hu, D., Peterson, P. 2014. Sources of Roll Returns in the S&P GSCI Excess Return IndexNCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management. University of Illinois.

Ye, M. , Gai, J., Yao, C. 2014. The Externalities of High Frequency Trading

Deryugina, T. , Hsiang, S. 2014. The Marginal Product of Climate

Bernhardt, M. , Bengtsson, L. 2014. The Role of Lawyers in Venture Capital Contracting: Theory and Evidence. Economic Inquiry, 1080-1102

Bansal, R., Kiku, D. , Shaliastovich, I., Yaron, A. 2014. Volatility, the Macroeconomy and Asset Prices. Journal of Finance

Ye, M. , O"Hara, M., Yao, C. 2014. What"s Not There: The Odd-Lot Bias in TAQ Data. Journal of Finance

Brown, J. , Weisbenner, S. 2014. Why Do Individuals Choose Defined Contribution Plans? Evidence from Participants in a Large Public Plan. Journal of Public Economics, 116: 35-46

2013

Pennacchi, G. , Park, K., Han, J. 2015. Corporate Taxes and Securitization. Journal of Finance, 70: 1287-1321

Pennacchi, G. , Vermaelen, T., Wolff, C. 2014. Contingent Capital: The Case of COERCs. Journal of Financial and Quantitative Analysis, 49: 541-574

Brown, J. , Dimmock, S., Kang, J., Weisbenner, S. 2014. How University Endowments Respond to Financial Market Shocks: Evidence and Implications. American Economic Review, 104: 931-962

Johnson, T. , Lee, J. 2014. On the Systemantic Volatility of Unpriced Earnings. Journal of Financial Economics

Brown, J. , Weisbenner, S. 2014. Why Do Individuals Choose Defined Contribution Plans? Evidence from Participants in a Large Public Plan. Journal of Public Economics, 116: 35-46

Almeida, H. , Acharya, V., Campello, M. 2013. Aggregate Risk and the Choice Between Cash and Lines of Credit. Journal of Finance, 68: 2059-2116

Peterson, P. 2013. Behind the Collapse of MF Global. Choices

Fullerton, D. , Monti, H. 2013. Can Pollution Tax Rebates Protect Low-Wage Earners? Journal of Environmental Economics and Management

DellaVigna, S., Pollet, J. 2013. Capital Budgeting vs. Market Timing: An Evaluation Using Demographics. Journal of Finance, 68: 237-270

Almeida, H. , Campello, M., Cunha, I., Weisbach, M. Forthcoming. Corporate Liquidity Management: A Conceptual Framework and Survey. Annual Review of Financial Economics

Lin, C., Ma, Y., Malatesta, P., Xuan, Y. 2013. Corporate Ownership Structure and the Choice Between Bank Debt and Public Debt. Journal of Financial Economics, 109: 517-534

Choi, J. , Shachar, O. 2013. Did Liquidity Providers Become Liquidity Seekers?: Evidence from the CDS-Bond Basis during the 2008 Financial Crisis

Peters, S. 2013. Dinner Table Finance, book outline and partial manuscript

Peterson, P. 2013. Do Roll Returns Really Exist? An Analysis of the S&P GSCINCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management. University of Illinois.

Huang, J. , Kisgen, D. 2013. Gender and Corporate Finance: Are Male Executives Overconfident Relative to Female Executives? Journal of Financial Economics, 108: 822-839

Ai, H., Kiku, D. 2013. Growth to Value: Option Exercise and the Cross-Section of Equity Returns. Journal of Financial Economics

Chan, K. , Chen, H., Lakonishok, J. 2013. Mutual fund investment styles. In T. Daniel Coggin and Frank J. Fabozzi (Ed.), Handbook of Equity Style Management, 359-406. John Wiley & Sons, Inc..

Almeida, H. , Campello, M., Galvao, A. Forthcoming. Assessing the Performance of Estimators that Deal with Measurement Error in Linear Models. In Chang-Few Lee (Ed.), Handbook of Financial Econometrics and Statistics. Dordrecht: Springer.

Deryugina, T. 2013. How do People Update? The Effects of Local Weather Fluctuations on Beliefs About Global Warming. Climatic Change, 118: 397-416

Pearson, N. , Muravyev, D., Broussard, J. 2013. Is There Price Discovery in Equity Options? Journal of Financial Economics, 107: 259283

Baylis, K., Fullerton, D. , Karney, D. 2013. Leakage, Welfare, and Cost-Effectiveness of Carbon Policy. American Economic Review

Raskie, S. 2013. Lose Weight, Save Money: An Owner"s Manual to Physical and Financial Fitness

Irani, R. , Oesch, D. 2013. Monitoring and Corporate Disclosure: Evidence from a Natural Experiment. Journal of Financial Economics, 398-418

Peterson, P. 2013. Necessary and Sufficient Conditions for a Successful Futures Contract: The Case of Black Sea WheatInternational Food and Agribusiness Management Association 23rd Annual World Forum and Symposium

Joseph, K., Garcia, P., Peterson, P. 2013. Price Discovery in the U.S. Fed Cattle MarketNCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management

Kahn, C. 2013. Private Payment Systems, Collateral, and Interest Rates. Annals of Finance, 9: 83-114

Miller, N. , Zeckhauser, R., Wagner, A. 2013. Solomonic Separation: Risk Decisions as Productivity Indicators. Journal of Risk and Uncertainty

Firth, M., Lin, C., Liu, P., Xuan, Y. 2013. The Client is King: Do Mutual Fund Relationships Bias Analyst Recommendations? Journal of Accounting Research, 51: 165-200

Brown, J. , Weisbenner, S. 2013. The Distributional Effects of the Social Security Windfall Elimination Provision. Journal of Pension Economics and Finance, 12: 415-434

Choi, J. , Williams, J. 2013. The False Consensus Effect and Trading Around Earnings Announcements

Mayer, C., Piskorski, T., Tchistyi, A. 2013. The Inefficiency of Refinancing: Why Prepayment Penalties are Good for Risky Borrowers. Journal of Financial Economics

Kalay, A., Kronlund, M. 2013. The Market Reaction to Stock Split Announcements: Earnings Information After All SSRN Abstract

Feng, Y., Fullerton, D. , Gan, L. 2013. Vehicle Choices, Miles Driven, and Pollution Policies. Journal of Regulatory Economics

Miller, N. , Al-Ississ, M. 2013. What Does Health Reform Mean for the Healthcare Industry? Evidence form the Massachusetts Special Senate Election. American Economic Journal: Economic Policy

Choi, J. 2013. What Drives the Value Premium?: The Role of Asset Risk and Financial Leverage. Review of Financial Studies

College of Business > University of Illinois