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Research

Naveen Khanna

A.J Pasant Endowed Chair Professor in Finance

Publications-

• “Stage Financing and Posturing in Venture Capital,” with Richard Mathews, Forthcoming Review of Financial Studies

• “Doing Battle with Short Sellers: The Conflicted Role of Block Holders,” with Rich Mathews, Journal of Financial Economics (2012).
• “Can Herding Improve Investment Decisions?” with Rich Mathews, Rand Journal of Economics (2011).
• “Optimal Debt Contracts and Product Market Competition with Exit and Entry,” with Mark Schroder, Journal of Economic Theory (2010).
• “Good IPOs Drive in Bad: Inelastic Banking Capacity in Hot Markets,” with Tom Noe and Ramana Sonti, Review of Financial Studies (2008).
• “Pricing, Exit, and Location Decisions of Firms: Evidence on the Role of Debt and Operating Efficiency,” with Sheri Tice, Journal of Financial Economics (2005).
Working Papers-
• “Are Most Democracies Temporal? Wealth Creation versus Wealth Appropriation,” with Zsuzsanna Fluck (2012).
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Mark Schroder

Philip J. Endowed Professor in Finance

Recent Publications-

• “Monotonicity of the Stochastic Discount Factor and Expected Option Returns” (with Ranadeb Chaudhuri), Review of Financial Studies, 28 (2015), 1462-1505.
• “Linked Recursive Preferences and Optimality” (with Sumit Sinha and Shlomo Levental), Mathematical Finance, forthcoming.
• “A simple proof of functional Itôs lemma for semimartingales with an application” (with Sumit Sinha and Shlomo Levental), Statistics and Probability Letters, 83 (2013), 2019-2026.
• “Optimal Debt Contracts and Product Market Competition with Replacement” (with Naveen Khanna), Journal of Economic Theory, 145 (January 2010) 156-188.

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Charles Hadlock

A.J. Pasant Chair in Finance

Publications-
• “Managers with and without Style: Evidence using Exogenous Variation,” C. Edward Fee, Charles J. Hadolock, Joshua R. Pierce, Review of Financial Studies (2013).
• “Financial Strength and Product Market Competition: Evidence from Asbestos Litigation,” with Ramana Sonti, Journal of Financial and Quantitative Analysis (2012).
• “New Evidence of Measuring Financial Constraints: Moving Beyond the KZ Index,” with J. Pierce, Review of Financial Studies (2010)
• “Promotions, Turnover, and Performance Evaluation: Evidence from the Careers of Division Managers,” Michael S. Cichello, C Edward Fee, Charles J. Hadlock, Ramana Sonti, The Accounting Review (2009).
• “Investment, Financing Constraints, and Internal Capital Markets: Evidence from the Advertising Expenditures of Multinational Firms,” with C.E. Fee and J. Pierce, Review of Financial Studies (2009).
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Geoffrey Booth

Professor of Finance

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Zoran Ivković

Professor of Finance

Publications-
B. Becker, Z. Ivković, and S. Weisbenner, “Local Dividend Clienteles,” Journal of Finance (2011).
• Z. Ivković and S. Weisbenner, “Individual Investor Mutual Fund Flows,” Journal of Financial Economics (2009).
• J. Brown, Z. Ivković, P. Smith, and S. Weisbenner, “Casual Community Efforts and Stock Market Participation,” Journal of Finance (2008).
• Z. Ivković and S. Weisbenner, “Information Diffusion Effects in Individual Investors’ Common Stock Purchases: Covet Thy Neighbors’ Investment Choices,” Review of Financial Studies (2007).
• Z. Ivković, J. Poterba, and S. Weisbenner, “Tax-Motivated Trading by Individual Investors,” American Economic Review (2
005).
Working Papers-
• “Empirical Determinants of Intertemporal Choice,” with J. Brown and S. Weisbenner, Journal of financial Economics.
• “Strategic Performance Allocation in Institutional Asset Management Firms: Behold the Power of Stars and Dominant Clients,” with R. Chaudhuri and C. Trzcinka, Journal of Finance.
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Kirt Butler

Associate Professor of Finance

Textbook-
• “Multinational Finances” (2012)
Publications-
• Michael D. Atchison, Kirt C. Butler, and Richard Simonds, “Nonsynchronous Security Trading and Market Index Correlation,” Journal of Finance (1987).
• Kirt C. Butler and Larry H.P. Lang, “The Forecast Accuracy of Individual Analysts,” Journal of Accounting Research (1991).
• Kirt C. Butler and S.K. Malaikah, “Efficiency and Inefficiency in Thinly Traded Stock Markets: Kuwait and Saudi Arabia,” Journal of Banking and Finance (1992).
• Kirt C. Butler and Katushi Okada, “The Relative Contribution of Conditional Mean and Volatility in Bivariate Returns to International Stock Market Indices,” Applied Financial Economics (2009).
• Kirt Butler, Tim O’Brien, and Gwinyai Utete, “A Fresh Look at Cross-Border Valuation and FX Hedging Decisions,” Journal of Applied Finance (2013).

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Zsuzsanna Fluck

Associate Professor of Finance

Publications-
• S. Arcot, Z. Fluck, J. Gaspar, and U. Hege,  “Fund Managers Under Pressure: The Rationale and Determinants of Secondary Buyouts,” Journal of Financial Economics (2014).
• “Optimal Financial Contracting: Control Rights, Incentives and Entrepreneurship,” Strategic Change (2010).
• Z. Fluck, K. John, and Avraham Ravid, “Privatization with Political Constraints and Agency Costs: Auctions versus Private Negotiations,” Journal of Banking and Finance (2007).
• “The Dynamics of Management-Shareholder Conflict,” Review of Financial Studies (1999).
• Z. Fluck and A. Lynch, “Why Firms Merge and then Divest: A Theory of Financial Synergy,” The Journal of Business (1999).
• “Optimal Financial Contracting: Debt versus Outside Equity,” Review of Financial Studies (1998).
Working Papers-
• “Hand in Hand or Hand in Bind? A Theory of Later-Stage Syndication of Venture Capital Investments,” joint with Kedran Garrison and Stewart Myers.
• “Where Does the Money Come From? An Empirical Investigation of Small Entrepreneurial Enterprises,” joint with Douglas Holtz-Eakin and Harvey Rosen.

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Andrei Simonov

Associate Professor of Finance

Publications-
• “On the Real Effects of Bank Bailout: Micro-Evidence from Japan,” with M. Giannetti, American Economic Journal: Macroeconomics (2013).
• “Alliances and Corporate Governance,” with Andriy Bodnaruk and Massimo Massa, Journal of Financial Economics (2013).
• “Do Small Shareholders Count?” with M. Massa and E. Kandal, Journal of Financial Economics (2011).
• “Is College a Focal Point of Investors Life,” with M. Massa, Review of Finance (2011).
• “Investment Banks as Insiders and the Market for Corporate Control,” with Andriy Bodnaruk and M. Massa, Review of Financial Studies (2009).

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Xing Huang

Assistant Professor of Finance

Working Papers-
• “Thinking Outside the Borders: Investors’ Inattention to Foreign Operations,” Review of Financial Studies.
• “Mark Twain’s Cat: Industry Investment Experience, Categorical Thinking and Stock Selection,” Journal of Finance.
• “Which Risk Factors Matter to Investors? Evidence from Mutual Fund Flows,” with Brad Barber and Terrance Odean.
• “Rushing into American Dream? House Prices, Timing and Homeownership, and Adjustment of Consumer Credit,” with Sumit Agarwal, Luojia Hu, Journal of Money, Credit, and Banking.
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Miriam Schwartz-Ziv

Assistant Professor of Finance

Publications-
• “What Do Boards Really Do? Evidence from the Minutes of Board Meetings,” with Michael S. Weisbach, Journal of Financial Econometrics (2013)
Working Papers-
• “Does the Gender of Directors Matter?”

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Hayong Yun

Assistant Professor of Finance

Publications-
• “Are Mutual Funds Sitting Ducks?” with Sophie Shive, Journal of Financial Economics (2013).
• “Risk Management and Firm Value: Evidence from Weather Derivatives,” with Francesco Perez-Gonzalez, Journal of Finance (2013).
• “The Choice of Corporate Liquidity and Corporate Governance,” Review of Financial Studies (2009).
• “Negative Hedging: Performance Sensitive Debt and CEOs’ Equity Incentives,” with Alexei Tchistyi and David Yermack, Journal of Financial and Quantitative Analysis (2011).
• “Matching Bankruptcy Laws to Legal Environments,” with Kenneth Ayotte, Journal of Law Economics and Organization (2009).

Working Papers-
• “Liquidity Backstop, Corporate Borrowings, and Real Effects,” with Pengjie Gao, Journal of Finance (2012).
• “Household Production and Asset Prices,” with Zhi Da and Wei Yang, Management Science.

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Mark Johnson

Professor of Practice in Finance

Publications-

• “Stock Price Reaction to Data Breaches,” M. Johnson, M. Kang and T. Lawson, Journal of Finance Issues, Forthcoming 2017

• “An End User Perspective: The Impact of FSMA on Restaurants,” M. Johnson, Cornell Hospitality Quarterly, 2017

• “Federal Tax Law Trumps Indian Canon: Implications for the Gaming Industry,” M. Johnson and M. Johnson, Cornell Hospitality Quarterly, 2016, 57(4): 434-441.

• “Macroeconomic Variables and Hotel Performance: Good and Bad News,” A. J. Singh, S. Kim, M. Johnson and R. Mandelbaum: Winner Second Best Paper Award ICHRIE Research Reports Competition 2016, ICHRIE Research Reports, June 2016. 1-14.

• “The Impact of the Food Safety and Modernization Act on Firm Value,” M. Johnson and T. Lawson, Agricultural Finance Review, 2016, 76(2): 233-245.

• “The Impact of Authorization of the Travel Promotion Act on Hotel Firm Stock Returns,” M. Johnson, A.J. Singh and Q. Ma, Cornell Hospitality Quarterly, 2015, 56(1): 29-40.

• “Internet Gaming: Valuation Concerns for the Industry,” M. Johnson, A.J. Singh and Y. Zhou: Winner ICHRIE National Conference Best Paper Award Finance Track 2015, Journal of Hospitality Financial Management, 2015, 23(1): 25-44.

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Sophia Zhengzi Li

Assistant Professor of Finance

Publications-
• “Jump Tails, Extreme Dependencies and the Distribution of Stock Returns,” with Tim Bollerslev and Viktor Todorov, Journal of Econometrics (2013).
Work in Progress-
• Dissection the Temporal Variation in Aggregate Stock Market Volitility,” with Tim Bollerslev and Ben Bingzhi Zhao, Journal of Econometrics (2013).
• “Improved Intraday Volume Profile Forecasting for Algorithmic Trading,” with Kathryn Zhao.


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