NYU Stern

Research

Negative Hedging: Performance Sensitive Debt and CEOs' Equity Incentives,” Alexei Tchistyi, David Yermack and Hayong Yun, Journal of Financial and Quantitative Analysis(forthcoming)  

How Much of the Diversification Discount Can be Explained by Poor Corporate Governance?” Daniel Hoechle, Markus M. Schmid, Ingo Walter and David Yermack (2011), Journal of Financial Economics (forthcoming)  

Investor Reactions to CEOs’ Inside Debt Incentives,” David Yermack and Chenyang (Jason) Wei (2011), Review of Financial Studies (forthcoming)  

The Effect of Risk on the CEO Market,” Alex Edmans and Xavier Gabaix (2010), Review of Financial Studies (forthcoming)  

"Do Non-Financial Stakeholders Affect the Pricing of Risky Debt? Evidence from Unionized Workers," Jason Chen, Marcin Kacperczyk, and Hernan Ortiz-Molina (2011), Review of Finance (forthcoming)  

Creditor Rights and Corporate Risk-taking,” Viral Acharya, Yakov Amihud and Lubomir Litov (2011), Journal of Financial Economics (forthcoming)  

"Security-Voting Structure and Bidder Screening," Christian At, Mike Burkart, and Samuel Lee (2010), Journal of Financial Intermediation (forthcoming)  

"The Structure and Formation of Business Groups: Evidence from Korean Chaebols," Heitor Almeida, Sang Yong Park, Marti Subrahmanyam, and Daniel Wolfenzon (2010), Journal of Financial Economics (forthcoming)   

Dynamic CEO Compensation,” Alex Edmans, Xavier Gabaix, Tomasz Sadzik, Yuliy Sannikov (2011)  

Corporate Governance, Product Market Competition, and Equity Prices,” Xavier Giroud and Holger Mueller, Journal of Finance 66:2:563–600 (2011)  

Cross-country Variations in Capital Structures: The Role of Bankruptcy Codes,” Viral Acharya, Kose John, and Rangarajan K. Sundaram, Journal of Financial Intermediation 20: 25-54(2011)  

The Internal Governance of Firms,” Viral Acharya, Stewart Myers and Raghuram Rajan, Journal of Finance 66:3 (2011)  

Technological Change and the Growing Inequality in Managerial Compensation,” Hanno Lustig, Chad Syverson, and Stijn Van Nieuwerburgh, Journal of Financial Economics 99:3: 601-627 (2011)  

Estimation of employee stock option exercise rates and firm cost,” Jennifer N. Carpenter, Richard Stanton and Nancy Wallace (2011)

"Implicit Guarantees and Risk Taking," Marcin Kacperczyk and Philipp Schnabl (2011)

Does The Stock 
Market Distort Investment Incentives?"  John Asker, Joan Farre-Mensa and Alexander Ljungqvist (2011)
 
"Labor Unemployment Risk and Corporate Financing Decisions,” Ashwini K. Agrawal and David A. Matsa (2011)

Dividends as Reference Points: A Behavioral Signaling Model
,” Jeffrey Wurgler and Malcolm Baker (2011)  

"Private Placements to Owner-Managers: Theory and Evidence" (previously titled "Private Placements, Regulatory Restrictions and Firm Value: Theory and Evidence from the Indian Market"), V. Ravi Anshuman, Vijaya B. Marisetty, and Marti G. Subrahmanyam (2011)  

"Corporate Governance Objectives of Labor Union Shareholders: Evidence from Proxy Voting,” Ashwini K.Agrawal(2010)  

Does Corporate Governance Matter in Competitive Industries?” Xavier Giroud and Holger Mueller, Journal of Financial Economics (2010)

CEO Replacement under Private Information,” Roman Inderst and Holger Mueller, Review of Financial Studies (2010)  

Optimal exercise of executive stock options and implications for firm cost,” Jennifer N. Carpenter, Richard Stanton and Nancy Wallace, Journal of Financial Economics 98:315-337 (2010)  

"
Monitoring Managers: Does It Matter?" Francesca Cornelli, Zbigniew W. Kominek and Alexander Ljungqvist (2010)"  

Corporate Governance Externalities,” Viral Acharya and Paolo Volpin, Review of Finance 14:1:1-33 (2010)  

Competition for Managers, Corporate Governance and Incentive Compensation,” Viral Acharya, Marc Gabarro and Paolo Volpin (2010)  

Wrongful Discharge Laws and Innovation,” Viral Acharya, Ramin Baghai, and Krishnamurthy Subramanian (2010)  

Corporate Governance and Value Creation: Evidence from Private Equity” with Moritz Hahn and Conor (2010)  

"Signaling in Tender Offer Games," Mike Burkart and Samuel Lee (2010) 

"Authority versus Loyalty: Social Incentives and Modes of Governance," Samuel Lee and Petra Persson (2010)  

Is a Higher Calling Enough? Incentive Compensation in the Church,” Jay C. Hartzell, Christopher A. Parsons, and David Yermack, Journal of Labor Economics 28:3:509-539 (2010)

Shareholder Voting and Corporate Governance,” David Yermack, Annual Review of Financial Economics 2:103-125 (2010)  

"Group Affiliation and the Performance of Initial Public Offerings in the Indian Stock Market," Vijaya B. Marisetty and Marti G. Subrahmanyam, Journal of Financial Markets, 13:1:196-223 (2010)  

“The Impact of Investor Protection Law on Corporate Policy: Evidence from the Blue Sky Laws
,” Ashwini K.Agrawal(2009)  

Bankruptcy Codes and Innovation” Viral Acharya and Krishnamurthy Subramanian, Review of Financial Studies 22:12:4949-4988 (2009)  

Managerial Hedging, Equity Ownership, and Firm Value,” Viral Acharya with Alberto Bisin, Rand Journal of Economics 40:1:47-77 (2009)  

Private Equity versus Plc Boards in the U.K.: A Comparison of Practices and Effectiveness,” Viral Acharya, Conor Kehoe and Michael Reyner, Journal of Applied Corporate Finance 21:1:45-56 (2009)  

Labor Laws and Innovation” Viral Acharya, Ramin Baghai and Krishnamurthy Subramanian (2009)  

Deductio Ad Absurdum: CEOs Donating Their Own Stock to Their Own Family Foundations,” David Yermack, Journal of Financial Economics 94:1:107-123 (2009)  
 

A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium,” Alex Edmans, Xavier Gabaix and Augustin Landier, Review of Financial Studies 22:12:4881-4917 (2009)

 
The effect of reference point prices on mergers and acquisitions,” Malcolm Baker, Xin Pan and Jeffrey Wurgler (2009)

Why Has CEO Pay Increased So Much?” Xavier Gabaix and Augustin Landier, Quarterly Journal of Economics 123:1:49-100 (2008) 

"One Share - One Vote: The Theory," Mike Burkart and Samuel Lee, Review of Finance 12:1:1-49 (2008)  

"An Analysis of Shareholder Agreements," Gilles Chemla, Alexander Ljungqvist and Michel A. Habib, Journal of the European Economic Association (2007)