Research
Shareholder activism and corporate governance · Labor, health, and finance · Debt markets & contracting · Household finance and retail trading · Real estate and urban economics
Publications
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Employee Health and Firm Performance,
with Alexander Schandlbauer
and Mircea Trandafir.
Accepted at the Journal of Financial and Quantitative Analysis (September 2026).[SSRN] [IZA version]
- Information Acquisition Costs and Credit Spreads, with Marcin Jaskowski. [Link to paper]
- Is Competition a Cure for Confusion? Evidence from the Residential Mortgage Market, with Steven Malliaris and Ruchi Singh. [Link to paper]
- Firm Listing Status and the Investment Home Bias, with Casey Dougal. [Link to paper]
-
Refinancing, Profitability, and Capital Structure,
with András Danis
and Toni Whited.
[Link to paper]
Winner of the 2014 Jensen Prize (second place) for best papers published in the Journal of Financial Economics in Corporate Finance and Organizations. Research Excellence Award 2014, School of Business and Economics, Humboldt University of Berlin.
Working Papers
Corporate Governance & Shareholder Activism
-
Hedge Fund Activist Skill,
with Arjun Goel
and Xu Tian.
R&R at the Review of Financial Studies.[SSRN]
Labor, Health & Finance
- Who Worries About the Stock Market? Evidence from Mental Health Shocks, with Alexander Schandlbauer and Mircea Trandafir.
- Insured, Not Immune: Firm Leverage, Wages, and Worker Mobility, with Alexander Schandlbauer and Mircea Trandafir.
- The Stability of Dividends and Wages: Effects of Competitor Inflexibility, with Alex Stomper and Josef Zechner. [SSRN]
Debt Markets & Contracting
- The Contracts Not Written: Measuring Covenant Tightness with LLM-Generated Synthetic Counterfactuals, with Malcolm Wardlaw. [SSRN]
- Reciprocity, Network Access, and Intermediation Chains in Dealer Markets, with Casey Dougal and Vasiliy Yakimenko. [SSRN]
- Municipal Bond Smithereening: Institutional-to-Retail Distribution and Markups, with Casey Dougal, Richard Ryffel and Vasiliy Yakimenko.
Household Finance & Retail Trading
- Do Retail Investors Have Skill? Evidence from Social Trading, with Arjun Goel and Anthony Waikel.
- Stimulus Payments and the Composition of Household Debt Repaymen, with Bianca Putz.
-
Wildfires and the Resilience of Commercial Activity,
with Steven Malliaris,
Rachel Meltzer
and Ruchi Singh.
R&R at Management Science.[SSRN]
- How do Activists Sell Firms? Evidence from REITs, with Shrija Banerjee.
- Wildfires and Municipal Bond Trading, with Casey Dougal and Vasiliy Yakimenko.