Individualism During Crises, with Jingjing Li, Ting Xu and Natasha Z. Foutz, The Review of Economics and Statistics (2022) 104 (2): 368–385.
INFORMS CIST 2020 Best Paper Award
Read more here: Pre-print in CEPR Covid Economics, Issue 48. Marginal Revolution, Insights at Sauder, UVA Today
Cross-Border Institutions and the Globalization of Innovation, with Jean-Marie Meier and Ting Xu, Journal of Financial and Quantitative Analysis, Forthcoming
Globally Consistent Creditor Protection, Reallocation, and Productivity Revise & Resubmit, Journal of Finance
2019 Cubist Systematic Strategies Research Paper Award
Law and Regulations Productivity, Innovation, and Entrepreneurship Real Asset Market
Selected Conferences: AEA 2020, WFA 2019, SFS Cavalcade North America 2019
Summary: Resource reallocation across firms is an important mechanism through which creditor rights affect real outcomes.
Financing the Global Shift to Electric Mobility, with Jan Bena and Huan Tang, Revise and Resubmit, Journal of Financial Economics
Productivity, Innovation, and Entrepreneurship Real Asset Market Household Finance
Selected Conferences: NBER SI (Household Finance), WashU Olin Finance Conference, Texas Finance Festival, FIRS 2024, WFA 2024, EFA 2024
Summary: Electric vehicles face a higher financing cost due to the technological risk associated with them.
The Supply and Demand for Data Privacy: Evidence from Mobile Apps, with Xinchen Ma and Huan Tang, Reject and Resubmit, Journal of Political Economy
Best Paper Award at the 2022 Annual Conference in Digital Economics
Law and Regulations Digital Economy Corporate Governance
Selected Conferences: SITE 2024, FIRS 2024, EFA 2023, SFS Cavalcade North America 2023, Colorado Finance Summit, Platform and Data Workshop at Bank of Canada, Toulouse-Yale Regulating the Digital Economy workshop
Summary: Using web-scrapped privacy “nutrition” labels, we document several stylized facts regarding the supply of privacy. We further investigate how consumers and investors react to the standardized disclosure of data privacy practices.
Data as a Networked Asset, with Qiushi Huang, Ye Li, and Huan Tang
Law and Regulations Digital Economy Productivity, Innovation, and Entrepreneurship
Selected Conferences: RCFS Winter Conference 2025, Duke-UNC Corporate Finance Conference, FutFinInfo 2025, SFS Cavalcade North America 2025, FIRS 2025, CICF 2025, EFA 2025, Barcelona School of Economics Summer Forum, SAIF Annual Research Conference
Summary: Data sharing generates comovements in operational, financial, and stock-market performances among data-connected firms, and induces strategic complementarity in firms’ product-design choices.
Law and Regulations Digital Economy Household Finance
Selected Conferences: NBER SI (Household Finance), NBER SI (Digital Economy), 2024 CFPB Research Conference, FIRS 2024, FutFinInfo 2023, George Tech-Atlanta Fed Household Finance Conference
Summary: Limiting the tracking and sharing of personal information reduces financial fraud.
Conflicting Fiduciary Duties and Fire Sales of VC-backed Start-ups, with Yingxiang Li and Casimiro A. Nigro
Best Paper Award at HEC-McGill Winter Finance Workshop
2023 John L. Weinberg/IRRCi Research Paper Award (winner)
Law and Regulations Productivity, Innovation, and Entrepreneurship Corporate Governance
Read more here: Havard Law School Forum, Forbes
Selected Conferences: EFA 2023, Weinberg/ECGI Annual Corporate Governance Symposium, AFA 2023, UNC Private Equity Research Symposium, LBS Private Capital Symposium, HEC-McGill Winter Finance Workshop, Southern California PE Conference
Summary: A common-favoring corporate law environment disciplines VCs' behavior in exit decisions.
Law and Regulations Corporate Governance Labor and Finance
Selected Conferences: NFA 2023, SFS Cavalcade North America 2023
Summary: Aggressive board gender quotas can trigger backlash among firms, worsening female labor market outcomes.
Productivity, Innovation, and Entrepreneurship Corporate Governance
Selected Conferences: CEPR European Summer Symposium in Financial Markets, FMA Napa/Sonoma Conference, NBER (Chinese Economy), RCFS Winter Conference 2023, FOM 2022, AFA 2022
Summary: Firms managed by CEOs with high-powered incentive contracts form more partnerships with China and transfer more technology to China.
The Political Economy of Decentralization: Evidence from Bank Bailouts, with Sampreet Goraya, Rainer Haselmann, Thomas Kick, and Vikrant Vig
CICF Best Paper Award
Law and Regulations Productivity, Innovation, and Entrepreneurship
Summary: The organizational design (decentralized vs. centralized) of bailout institutions affects affects the efficacy of distress resolution.
Breaking the Data Chain: The Ripple Effect of Data Sharing Restrictions on Financial Markets, with Simona Abis and Huan Tang
Preliminary draft available upon request