“Influencing Control: Jawboning in Risk Arbitrage,” with Wei Jiang and Danqing Mei, (2017). Journal of Finance, forthcoming
“Outsourcing Corporate Governance: Conflicts of Interest Within the Proxy Advisory Industry,” (2016). Management Science, forthcoming
“Appraisal: Shareholder Remedy or Litigation Arbitrage?” with Wei Jiang, Danqing Mei, and Randall Thomas, Journal of Law and Economics 59(3), 697-729, August 2016.
“The Value of Access to Rail Transit in a Congested City: Evidence from Housing Prices in Beijing,” (2017). Real Estate Economics, forthcoming
“The Benefits of Friendship in Hedge Fund Activism,” with Ellen He (2017).
- Presented at 4th Conference on Recent Advances in Mutual and Hedge Fund Research (Humboldt & ESMT), EFA, 9th Annual Hedge Fund Research Conference, CEPR Annual Spring Symposium in Financial Economics (Imperial College), Consortium on Institutional Investing and Hedge Funds (Cambridge University), The Role of Hedge Funds and other Collective Investments in the Modern World (Manchester), FMA, FMA Europe
- Media coverage: Seeking Alpha
“Picking Friends Before Picking (Proxy) Fights: How Mutual Fund Voting Shapes Proxy Contests,” with Alon Brav and Wei Jiang (2017).
“Do Analysts Use the Freedom of Information Act to Improve Stock Recommendations and Forecast Accuracy?” with April Klein and Bobo Zhang (2017). R&R at The Accounting Review
- Presented at TAU Finance Conference, LBS Accounting Symposium, EFA, American Accounting Association
“Acquiring and Trading on Complex Information: How Hedge Funds Use the Freedom of Information Act,” with April Klein (2015). This paper was previously circulated under the title “Costs and Benefits of Acquiring Information: How Hedge Fund Managers Trade on the Freedom of Information Act.”
- Presented at EFA, American Law & Economics Association, Annual Hedge Fund Research Conference (Paris), EFMA, FMA
- Winner for the 2015 EFMA Conference Best Paper Award
- Semi-finalist for the 2015 FMA Conference Best Paper Award
- Media coverage: Barclay’s Insider Report
Research in Progress
Selected Media Citations
- “Hedge funds face ‘game over’ for buyout strategy,” Financial Times, December 28, 2017.
- “Appraisal rights: non-traditional shareholder activism,” Aberdeen Asset Management, October 13, 2017.
- “Conflicts of Interest Among Proxy Advisors,” “Access to Finance” blog, Alex Edmans, London Business School, June 18, 2017.
- “Claims from hedge funds cause rise in appraisal actions,” Research News at Vanderbilt University, June 7, 2017.
- “The Powerful Private Regulator and the Effects of Conflicts of Interest,” Pro-Market blog, Stigler Center at Chicago Booth, May 3, 2017.
- “Judges second-guess value established in competitive M&A process,” Financial Times, March 27, 2017.
- “A Judge Decides Fair Value for Dell,” New York Times, page B1, June 7, 2016.
- “Del. Merger Proposals Would Reduce Appraisal Claims: Study,” Bloomberg, May 26, 2016.
- “Delaware Effort to Protect Shareholders May Hurt Them,” New York Times, page B3, May 25, 2016.
- “Hedge Fund Activists Need Friends,” Seeking Alpha, September 9, 2016.
- “Will Appraisal ‘Reform’ Be Successful?” Appraisal Rights Litigation Blog, June 30, 2016.
- “Is Bill Ackman a Good or Bad Activist Investor?” Agenda (Financial Times), May 16, 2016.
- “Appraisal Rights and ‘Risk Arbitrage’” Appraisal Rights Litigation Blog, January 20, 2016.