Research
Publications
The
Performance of Investment Bank Affiliated Mutual Funds: Conflicts of Interest
or Informational Advantage? (with Grace Hao),
Forthcoming in Journal of Financial and
Quantitative Analysis.
The Interim Trading Skills of
Institutional Investors (with Andy Puckett), Forthcoming in Journal of Finance.
The Predictive Content of Aggregate Analyst
Recommendations (with John Howe and Emre Unlu), Journal of
Accounting Research 47, 2009, 799-821.
Block Ownership, Trading Activity, and Market
Liquidity (with Paul Brockman and Dennis Chung), Journal of Financial and Quantitative Analysis 44, 2009, 1403-1426.
Agency Costs, Governance, and Organizational Forms:
Evidence from the Mutual Fund Industry (with Steve Ferris), Journal of Banking and Finance 33,
2009, 619-626.
Institutional Investors and Equity Returns: Are
Short-term Institutions Better Informed? (with Zhe
Zhang), Review of Financial Studies
22, 2009, 893-924.
Block Ownership and Firm-Specific
Information, (with Paul Brockman), Journal
of Banking and Finance 33, 2009, 308-316.
Liquidity, Investment Style, and the
Relation Between Fund Size and Fund Performance, Journal of Financial and Quantitative
Analysis 43, 2008, 741-768.
Price Momentum and Idiosyncratic Volatility (with
Matteo Arena and Stephen Haggard), Financial Review 43, 2008, 159-190.
Security Concentration and Fund Management: Do
Focused Funds Offer Superior Performance? (with
Travis Sapp), Financial Review 43,
2008, 27-49.
Do Independent Directors and Chairmen Matter?
The Role of Boards of Directors in Mutual Fund Governance (with Steve
Ferris), Journal of Corporate Finance 13,
2007, 392-420.
Agency
Conflicts in Delegated Portfolio Management: Evidence from Namesake Mutual
Funds (with Steve Ferris), Journal of Financial Research 30, 2007, 473-494.
The Determinants and Implications of Mutual
Fund Cash Holdings: Theory and Evidence, Financial Management 67 (2), 2006, 67-91.
Does Idiosyncratic Risk Really Matter? (with Turan Bali, Nusret Cakici, and Zhe Zhang), Journal of Finance 60, 2005, 905-929.
The Nasdaq-Amex Merger, Nasdaq
Reforms, and the Liquidity of Small Firms (with Travis Sapp), Journal of Financial Research 26, 2003, 225-242.
Valuation of
Commodity Derivatives in a New Multi-factor Model, Review of Derivatives Research 5, 2002,
251-271.
Divergence
of Opinion, Uncertainty and the Quality of Initial Public Offerings (with
Todd Houge, Tim Loughran
and Gerry Suchanek), Financial Management 30 (4), 2001, 5-23.
Working
Papers
Short-term Institutional Herding and Its Impact on
Stock Prices (with Andy Puckett)
The Time-Series Behavior
and Pricing of Idiosyncratic Volatility: Evidence from 1926-1962 (with Paul
Brockman)
Do Affine Models
Adequately Represent the International Asset Price Dynamics? Presented at WFA 2001. Permanent Working Paper.
Finance
Seminars