Research

Published Papers

• "Moral Hazard in Active Asset Management" (with Shaun William Davies) Journal of Financial Economics 125 (2017) 311-325. [SSRN] [JFE] [Online Appendix]

• "Tax Uncertainty and Retirement Savings Diversification" (with Scott Cederburg and Michael O'Doherty) Journal of Financial Economics 126 (2017) 689-712. [SSRN] [JFE] [Online Appendix] [Media Coverage: WSJ ("Smart saving amid changing tax code", February 12, 2018), Financial Advisor Magazine, Bloomberg]

• "Financing Efficiency of Securities Based Crowdfunding" with Shaun Davies (Forthcoming at Review of Financial Studies)

• "ETF Arbitrage, Non-Fundamental Demand and Return Predictability" with Shaun Davies and Matt Ringgenberg [ETF Sample Data][Media Coverage: Bloomberg, MarketWatch] (Forthcoming at Review of Finance)

Book Chapters

• "An Overview of Technologically Enabled Finance." with Mingfeng Lin. Handbook of Alternative Finance (Forthcoming from Palgrave-MacMillan)

Non-Refereed Publications

• "Exclusive Dark Pools." Review of Financial Regulation Studies 10: 5-6 (2012), with Leslie Boni and J. Chris Leach

  • "Investing in Security Price Informativeness: The Role of IPO Underpricing." Oxford Business Law Blog - January 15, 2017

Working Papers

• "Investing in Security Price Informativeness: The Role of IPO Underpricing" [Online Appendix]

• "Is There Skill in the Game? Institutional IPO Allocations" with Sergei Kovbasyuk and Tamara Nefedova

• "(Sub)Optimal Asset Allocation to ETFs" with Scott Cederburg and Mitch Towner

• "Off Target: On the Underperformance of Target Date Funds" with Shaun Davies [Media Coverage: Wall Street Journal, Wall Street Journal]

• "Simple Intuition Gone Awry: Combining Real and Financial Options in Tax Elections" with J. Chris Leach

• "Dark Pool Exclusivity Matters" with Leslie Boni and J. Chris Leach

Work-in-Progress

• "Strategic Trading and Price Informativeness" with Aizhan Anarkulova

• "Equity Crowdfunding: Theory and Evidence" with Shaun Davies and Mingfeng Lin

• "Index Investing, Value-Weighted ETF Flows, and Non-Linear Price Impact: Implications for the Firm" with Shaun Davies and Matt Ringgenberg

Honors and Awards

• Finance Theory Group Member, 2019 - Current

• TIAA Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security, 2018

• WU Gutmann Center Best Discussant Prize, 2017

• McGraw-Hill/Irwin Distinguished Paper Award, Southwestern Finance Association, 2013