Publications
"Competition, Comparative Performance, and Market Transparency" (with Bruce I. Carlin and Andrew Iannaccone). American Economic Journal: Microeconomics. 4: 202-237, 2012. [Link]
"Moral Hazard in Active Asset Management" (with David C. Brown) Journal of Financial Economics. 125: 311-325, 2017. [Link]
"The Unintended Consequences of Divestment" (with Edward D. Van Wesep) Journal of Financial Economics. 128: 558-575, 2018. [Link]
"Investing for Impact" (with Bhagwan Chowdhry and Brian Waters) Review of Financial Studies. 32: 864-904, 2019. [Link]
“Financial Advice and Discretion Limits” Financial Planning Review 3: 1-34. 2020. [Link]
"Financing Efficiency of Securities-Based Crowdfunding" (with David C. Brown). Review of Financial Studies. 33: 3975-4023. 2020. [Link]
Included in the Finance Theory Insights inaugural issue, Issue 1, September 2021 [Link]
"ETF Arbitrage, Non-Fundamental Demand, and Return Predictability" (with David C. Brown and Matthew Ringgenberg). Review of Finance. 21: 937-972, 2021. [Link]
Lead Article
Runner-up for the 2022 Spängler/IQAM award for the best Investments Paper in the Review of Finance
"Speculation Sentiment" Journal of Financial and Quantitative Analysis. 57: 2485-2515. 2022. [Link]
Lead Article
"Investor Demand for Leverage: Evidence from Equity Closed-End Funds" (with Robert Dam and S. Katie Moon). Review of Asset Pricing Studies. 14: 1-39, 2024. [Link]
Lead Article
"On the Magnification of Small Biases in Hiring" (with Edward D. Van Wesep and Brian Waters). Journal of Finance. 79:3623-3673, 2024. [Link]
ASU Sonoran Winter Finance Conference 2020's Jacob Gold & Associates Best Paper Prize Winner
Included in the Finance Theory Insights, Issue 5, September 2024 [Link]
Working Papers
"Off Target: On the Underperformance of Target-Date Funds" (with David C. Brown). [Link]
"ETF Demand and Stock Returns" [Link]
"A Review: The Financial Impact for Socially Responsible Investors" [Link] [Slides]
“Individual Traders and the Allocation of Scarce Attention” [Link]
"The Implementation of State Sponsored Retirement Plans" (with Bruce I. Carlin). [Link]
Work in Progress
"Green Capital Structure" (with Brian Waters).
"Greenium in Debt Markets" (with Ryan C. Lewis and Brian Waters).
"Index Investing, Value-Weighted ETF Flows, and Non-Linear Price Impact: Implications for the Firm" (with David C. Brown and Matthew Ringgenberg). Early Draft Available Upon Request
"Home Bias in Equity Crowdfunding" (with David C. Brown and Mingfeng Lin).