• Publications
  • Influence
Founder-CEOs, investment decisions, and stock market performance
Eleven percent of the largest public U.S. firms are headed by the CEO who founded the firm. Founder-CEO firms differ systematically from successor-CEO firms with respect to firm valuation, investmentExpand
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This Time is the Same: Using Bank Performance in 1998 to Explain Bank Performance During the Recent Financial Crisis
We investigate whether a bank's performance during the 1998 crisis, which was viewed at the time as the most dramatic crisis since the Great Depression, predicts its performance during the recentExpand
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Bank CEO Incentives and the Credit Crisis
We investigate whether bank performance during the recent credit crisis is related to chief executive officer (CEO) incentives before the crisis. We find some evidence that banks with CEOs whoseExpand
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Financial Valuation and Risk Management Working Paper No . 603 Bank CEO Incentives and the Credit Crisis
We investigate whether bank performance during the credit crisis of 2008 is related to CEO incentives and share ownership before the crisis and whether CEOs reduced their equity stakes in their banksExpand
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Shareholder Rights, Boards, and CEO Compensation*
I analyze the role of executive compensation in corporate governance. As proxies for corporate governance, I use board size, board independence, CEO-chair duality, institutional ownershipExpand
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Large Blocks of Stock: Prevalence, Size, and Measurement
Large blocks of stock play an important role in many studies of corporate governance and finance. Despite this important role, there is no standardized data set for these blocks, and the bestExpand
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Bank CEO Incentives and the Credit Crisis
We investigate whether bank performance during the recent credit crisis is related to chief executive officer (CEO) incentives before the crisis. We find some evidence that banks with CEOs whoseExpand
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Large Shareholders and Corporate Policies
We analyze the effects of heterogeneity across large shareholders, using a new blockholder-firm panel dataset in which we can track all unique blockholders among large public firms in the UnitedExpand
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Why do firms appoint CEOs as outside directors
Companies actively seek to appoint outside CEOs to their boards. Consistent with our matching theory of outside CEO board appointments, we show that such appointments have a certification benefit forExpand
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Do Exogenous Changes in Passive Institutional Ownership Affect Corporate Governance and Firm Value
We investigate whether corporations and their executives react to an exogenous change in passive institutional ownership and alter their corporate governance structure. We find that exogenousExpand
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