Professor of Finance
Marion Ingersoll Endowed Professor
PhD, University of Rochester, 1998
MS, Univeristy of Rochester, 1996
BS, Pennsylvania State University, 1993Specialties
Corporate Finance, Mergers and Acquisitions, Payout Policy, Corporate GovernancePositions Held
At the University of Washington since 2001
Assistant Professor of Finance, University of Oregon (1997–2001)Current Research
"The Importance of Industry Links in Merger Waves"
"How Do Private Equity Sponsors Add Value?"Honors and Awards
William A. and Helen I. Fowler Endowment for Special Achievement in Finance (2009)
Dean's Faculty Research Award (2008)
Interfraternity Council Excellence in Teaching Award, University of Washington Interfraternity Council (2007)
ISMBA Excellence in Teaching Award (2006)
Wells Fargo Faculty Award for Undergraduate Teaching (2005)
Undergraduate Professor of the Year in Finance (2005, 2010)
Dean's Junior Faculty Research Award (2004)Selected Publications
"Institutional Cross-holdings and Their Effect on Acquisition Decisions," with D. Jenter and K. Li, Journal of Financial Economics
, January 2011.
"Do Firms Have Leverage Targets: Evidence from acquisitions," with S. Klasa and N. Walcott, Journal of Financial Economics
, July 2009. (Lead article)
"Corporate Governance and Firm Cash Holdings in the U.S.," with W. Maxwell and S. Mansi, Journal of Financial Economics
, March 2008. (Lead article)
"Information Asymmetry, Information Dissemination and the Effect of Regulation FD on the Cost of Capital," with J. Duarte, X. Han and L. Young, Journal of Financial Economics
, January 2008.
"Monitoring: Which Institutions Matter?" with X. Chen and K. Li, Journal of Financial Economics
, November 2007. (Lead article)
"Decoupling Firm Performance and CEO Wealth: The Case of Acquiring CEOs," with Kai Li, Journal of Finance
, April 2007.
"What drives merger waves?" Journal of Financial Economics
, Vol. 77, No. 3, September 2005, pp. 529-560.
"Correlated order flow: Pervasiveness, sources, and pricing effects," with Aditya Kaul, Journal of Financial and Quantitative Analysis
, Vol. 40, No. 1, March 2005, pp. 29-55.
"Takeover Bids and Target Directors' Incentives: Retention, Experience, and Settling-up," Journal of Financial Economics
, Vol. 69, No. 1, July 2003, pp. 51-83.
"Managerial opportunism? Evidence from Directors' and Officers' Insurance Purchases," with J. Chalmers and L. Dann, Journal of Finance
, Vol. 57, No. 2, April 2002, pp. 609-36.
"The Cash flow Permanence and Information Content of Dividend Increases vs. Repurchases," with Wayne Guay, Journal of Financial Economics
, Vol. 57, No. 3, September 2000, pp. 385-415.
"Corporate Cash Reserves and Acquisitions," Journal of Finance
, Vol. 54, No. 6, December 1999, pp. 1969-97.