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Publications "Which Firms Follow the Market? An
Analysis of Corporate Investment Decisions," May 2008, forthcoming, Review
of Financial Studies. (with Tor-Erik Bakke) "The Corporate Propensity to Save,"
January 2008, forthcoming, Journal of Finance. (with Leigh A. Riddick) "How Costly is External Financing?
Evidence from a Structural Estimation." (with Christopher Hennessy),
Journal of Finance. 62 (2007): 1705-1745. (formerly titled
"Beyond Investment-Cash Flow Sensitivities: Using Indirect Inference to
Estimate Costs of External Funds") Winner of the 2007 Brattle
Prize for Distinguished Paper in Corporate Finance in the Journal of
Finance. "Spin-offs, Divestitures, and Conglomerate Investment,"
(with Gonul Colak), Review of Financial Studies 20 (2007): 557-595. "Testing Q Theory with Financing Frictions,"
Journal of Financial Economics 83 (2007): 691-717 (with Christopher
Hennessy and Amnon Levy) "On
the Accuracy of Different Measures of Q," Financial Management 35
(2006): 5-33. (with Timothy Erickson, lead article) "External Finance Constraints and the Intertemporal
Pattern of Intermittent Investment," Journal of Financial
Economics 81 (2006): 467-502. (lead article) "Financial Constraints Risk." Review
of Financial Studies 19 (2006): 531-559. (with Guojun Wu) "Proxy Quality Thresholds: Theory and Applications."
Finance Research Letters 2 (2005): 131-151 (with Timothy Erickson) "Debt Dynamics," Journal of
Finance 60 (2005): 1129-1165. (with Christopher Hennessy) Winner of the 2005 Brattle
Prize for Outstanding Paper in Corporate Finance in the Journal of Finance. "Two-Step GMM Estimation of the
Errors-in-Variables Model using High-Order Moments," Econometric
Theory 18 (2002): 776-799. (with Timothy Erickson) "Is It Inefficient Investment that Causes the
Diversification Discount?" Journal of Finance 56 (2001):
1667-92. (Nominated for the Brattle Prize) "Fixed Costs of Adjustment, Coordination,
and Industry Investment," Review of Economics and Statistics
83 (2001): 628-637. (with Joanne Doyle) "Measurement Error and the Relationship between
Investment and q," Journal of Political Economy 108 (2000): 1027-57.
(with Timothy Erickson) "Why Do Investment
Euler Equations Fail?" Journal of Business and Economic Statistics,
16 (1998): 469-478. "The Effect of
Uncertainty on Investment: Some Stylized Facts," Journal of Money,
Credit, and Banking 28 (1996): 64-83. (with John V. Leahy) "Internal Finance and
Firm Investment," Journal of Money, Credit, and Banking 27
(1995): 683-701. (with R. Glenn Hubbard and Anil K. Kashyap) "Problems with
Identifying Adjustment Costs from Regressions of Investment on Q,"
Economics Letters 46 (1994): 339-344. "Debt, Liquidity
Constraints, and Corporate Investment: Evidence from Panel Data," Journal
of Finance 47 (1992): 1425-1460. "Investment and
Financial Asset Accumulation," Journal of Financial Intermediation
1 (1991): 307-334. " |