Research

Shareholder activism and corporate governance · Labor, health, and finance · Debt markets & contracting · Household finance and retail trading · Real estate and urban economics

Publications

Information Acquisition Costs and Credit Spreads, with Marcin Jaskowski. Journal of Banking & Finance, 2023, Vol. 149, 106775. [Link to paper]
Is Competition a Cure for Confusion? Evidence from the Residential Mortgage Market, with Steven Malliaris and Ruchi Singh. Real Estate Economics, 2022, Vol. 50(1), pp. 206–246. [Link to paper]
Firm Listing Status and the Investment Home Bias, with Casey Dougal. Journal of Corporate Finance, 2021, Vol. 71, 102095. [Link to paper]
Refinancing, Profitability, and Capital Structure, with András Danis and Toni Whited. Journal of Financial Economics, 2014, Vol. 114(3), pp. 424–443. [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

Employee Health and Firm Performance, with Alexander Schandlbauer and Mircea Trandafir.
R&R at the Journal of Financial and Quantitative Analysis.
[SSRN] [IZA version]
Who Worries about the Stock Market? Evidence from Hospitalizations, with Alexander Schandlbauer and Mircea Trandafir.
Leverage and Labor: How Firm Financial Structure Shapes Wages and Job Changes under Risk Aversion, 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]
Dealer Quid Pro Quo in the Municipal Bond Market, 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.
COVID-19 Stimulus Cash and Debt Payments, with Bianca Putz.