I started my career as an Assistant Professor of Finance at the Carlson School of Management at the University of Minnesota and after a couple of years, I moved to the University of Virginia, where I have been since.
My areas of research are at the intersection of Industrial Organization, Capital Structure, and Corporate Governance.
My most recent work focuses on how competition in the product market is affected by the corporate governance of competing firms. For example, I am studying whether product market competitors that are owned by a common set of institutional investors are pressured to engage in anti-competitive practices. My work on this received the Best Overall Paper Award at the 2018 European Finance Association Meeting, and has been cited in The Economist, The Financial Times, and Bloomberg View, among others.
I also study the effects of CEO incentive-based bonuses on the real operations of the firm implementing the bonus, as well as on those competing with this firm. I’ve also wrote on how a firm’s bankruptcy can affect product market prices and quality.
I also work on how a firm’s cost of capital is affected by how competitive the banking system is. For instance, I’ve studied how following the repeal of Glass Steagall and the enactment of the Financial Modernization Act, allowed firms to access capital at lower costs.
I have co-authored work published in several journals including the Review of Corporate Finance Studies, the International Journal of Industrial Organization, the Journal of Financial Intermediation.