Wells Fargo Professor of Finance
Department of Finance, Insurance, and Law
Pamplin College of Business
Blacksburg, VA 24061
- Ph.D., Finance, George Washington University
- B.S., Electrical Engineering, University of Wisconsin-Milwaukee
- Corporate Finance, Governance, and Fixed Income Securities
- Citations: ISI Web of Science (754), SSRN (782), Google Scholar (4,300)
- Freddie Mac, Senior Financial Analyst, Structured Finance, McLean, VA
- Unisys Corporation, Product OEM Engineer, Santa Clara, CA
- “Liability protection, director compensation, and incentives,” with I. Aguir, N. Burns, and J. Wald, Journal of Financial Intermediation, Forthcoming.
- “Are short sellers informed? Evidence from the bond market,” with A. Kecskés and A. Zhang, The Accounting Review 88, March 2013, 611-639.
- “Analyst forecast characteristics and the cost of debt,” with W. Maxwell and D. Miller, Review of Accounting Studies 16, March 2011, 116-142.
- “Internal governance mechanisms and operational performance: Evidence from index mutual funds,” with J. Adams and T. Nishikawa, Review of Financial Studies 23, March 2010, 1261-1286.
- “Creditor protection laws and the cost of debt,” W. Maxwell and J. Wald, Journal of Law & Economics 52, November 2009, 701-726.
- “Corporate governance and firm cash holdings,” with J. Harford and W. Maxwell, Journal of Financial Economics 87, March 2008, 535-555. (Lead Article)
- “Does corporate governance matter to bondholders?” with M. Klock and W. Maxwell, Journal of Financial & Quantitative Analysis 40, December 2005, 639-719 (Lead Article).
- “Board characteristics, accounting report integrity, and cost of debt,” with R. Anderson and D. Reeb, Journal of Accounting & Economics 37, September 2004, 315-342.
- “Does auditor quality and tenure matter to investors? Evidence from the bond market, with W. Maxwell and D. Miller, Journal of Accounting Research 42, September 2004, 755-793.
- “Founding family ownership and the agency cost of debt,” with R. Anderson and D. Reeb, Journal of Financial Economics 68, May 2003, 263-285.
- “Corporate diversification: What gets discounted?” with D. Reeb, Journal of Finance 5, October 2002, 2167-83.
- “Firm internationalization and the cost of debt financing: Evidence from non-provisional publicly traded debt,” with J. Allee and D. Reeb, Journal of Financial & Quantitative Analysis 36, September 2001, 395-414.
- “Political institutions, connectedness, and corporate risk taking,” with N. Boubakri and W. Saffar, Journal of International Business Studies 44, April 2013, 195-215.
- “Bankruptcy prediction models and the cost of debt,” with W. Maxwell and A. Zhang, Journal of Fixed Income 21, March 2012, 25-42.
- “Does customer satisfaction matter to investors? Findings from the bond market,” with E. Anderson, Journal of Marketing Research 46, October 2009, 703-714.
- “Evidence on quasi-private information and insider trading,” with M. Carter and D. Reeb, Financial Analyst Journal 59, May/June 2003, 60-68.
- “Corporate international activity and debt financing,” with D. Reeb, Journal of International Business Studies 33, Spring 2002, 1-17.
- “How well do constant-maturity Treasuries approximate the on-the-run term structure,” with J. Jordan, Journal of Fixed Income 10, September 2000, 1-11.
- "Do long term invetsors improve corporate decision making,"with J. Harford and A. Kecskes.Harvard Law School Forum on Governance and Regulation. “Investor horizon and corporate cash holdings,” with J. Harford and A. Kecskes.Harvard Law School Forum on Governance and Regulation.
- “Affiliated agents, board of directors, and mutual fund security lending returns,” with J. Adams and T. Nishikawa. WSJ Article, Global Investor, Security Lending Times, Fund Director Intelligence, Board IQ, Barron's, WSJ.
- “Bond covenants, bankruptcy risk, and issuance costs,” with Y. Qi and J. Wald.
- “Severance agreements, incentives, and the cost of debt,” with A. Nguyen and J. Wald.
- “Infromation asymmtery, the cost of debt, and credit events,” with F. Derrion and A. Kecskes.
- Corporate Finance, Governance, Fixed Income Securities, and Investments at the undergraduate, graduate, and Ph.D levels.