Published Papers
"Capital Structure and Dividend Irrelevance
with Asymmetric Information," with Philip H. Dybvig,
(1991) Review of Financial Studies 4, 201-219.
"Optimal Financial Instruments" (1991) Journal
of Finance 46, 1645-1663.
"Auctions of Divisible Goods: On the Rationale for
the Treasury Experiment" with Kerry Back,
(1993) Review of Financial Studies 6, 733-764.
Reprinted in The Economic Theory
of Auctions edited by Paul Klemperer, Elgar Publishing Ltd., U.K.
"Optimal Bankruptcy Law and Firm-Specific
Investments" with Elazar Berkovitch and Ronen Israel,
(1997) European Economic Review 41, 487-497.
"Bankruptcy, Warrants and State Contingent Changes
in the Ownership of Control" with Avner Kalay,
(1997) Journal of Financial Intermediation 6, 347-379.
"The Design of Bankruptcy Law: A Case for
Management Bias in Bankruptcy Reorganizations" with Elazar Berkovitch
and Ronen Israel, (1998) Journal of Financial and Quantitative Analysis 33,
441-464.
"Do Incentives Matter? Managerial Contracts
for Dual-Purpose Funds" with James S. Schallheim and Michael L. Lemmon,
(2000) Journal of Political Economy 108, 273-299.
"Auctions of Divisible Goods with Endogenous
Supply," with Kerry Back, (2001) Economics Letters 73, 29-34.
"Auctioning Divisible Goods," with Jim
Wang, (2002) Economic Theory 19, 673-705.
"Competition and Cooperation in Divisible Good
Auctions: An Experimental Examination," with Orly Sade and Charles
Schnitzlein,
(2006) Review of Financial Studies, 19, 195 - 235.
"When Less (Potential Demand) Is More (Revenue):
Asymmetric Bidding Capacities in Divisible Good Auctions," with Orly
Sade and Charles Schnitzlein,
(2006), Review of Finance, 10, 389 - 416.
Back to the Beginning:
Persistence and the Cross-Section of Corporate Capital Structure," with
Michael R. Roberts and Michael L. Lemmon,
Journal of Finance, forthcoming.