Research

My research spans a wide range of topics within finance and is concentrated in the areas of financial institutions, corporate finance, and stock market anomalies.

Publications

1. "The January Anomaly and Anomalies in January'' (with Alex Lytle, Fairfield B.S. '22, MSF '23), 2023, Applied Finance Letters 12(1), 2-11. https://doi.org/10.24135/afl.v12i1.615

2. "Implications of public corruption for local firms: Evidence from corporate debt maturity'' (with M. Kabir Hassan and Md. Sydul Karim), 2022, Journal of Financial Stability 58, 100975. https://doi.org/10.1016/j.jfs.2022.100975 

3. "Discretionary loan loss provisioning and bank stock returns: The Role of economic booms and busts'' (with Shantaram P. Hegde), 2021, Journal of Banking & Finance 130, 106186. https://doi.org/10.1016/j.jbankfin.2021.106186 

4. "Entrenchment or efficiency? CEO-to-employee pay ratio and the cost of debt'' (with Katsiaryna Bardos and Michael Puleo), 2021, Financial Review 56(3), pp. 511-533. https://doi.org/10.1111/fire.12256 

5. "Financial distress, corporate takeovers, and the distress anomaly'' (with Michael Puleo), 2021, Managerial Finance 47(8), pp. 1168-1193. https://doi.org/10.1108/MF-12-2019-0621 

6. "Asymmetric information and opportunism in insider share-pledging'' (with Michael Puleo), 2021, Managerial Finance 47(10), pp. 1385-1407. https://doi.org/10.1108/MF-06-2020-0322 

7. "Share-pledging and the cost of debt'' (with Michael Puleo and Michael McDonald), 2021, Accounting and Finance 61(1), pp. 1047-1079. https://doi.org/10.1111/acfi.12603 

8. "Cryptocurrency return reversals'' (with Michael Puleo and Jizhou Zhou), 2021, Applied Economics Letters 28(11), pp. 887-893. https://doi.org/10.1080/13504851.2020.1784831

9. "Cross-sectional equity correlations and the value of active management'' (with Gregg Fisher and Michael McDonald), 2020, Journal of Index Investing 11(1), pp. 52-66. https://doi.org/10.3905/jii.2020.1.089 

10. "Predicting recessions using trends in the yield spread'' (with Thaddeus Sim), 2019, Journal of Applied Statistics 46(7), pp. 1323--1335. https://doi.org/10.1080/02664763.2018.1537364 

Working Papers

1. "Does merger motivation matter? An examination of the merger benefits to credit union targets, acquirers, and the credit union industry'' (with M. Kabir Hassan and Michael Puleo)

2. "Earnings and capital management and their impact on loan loss provision informativeness: Evidence from the U.S. credit union industry'' (with Alec Melotto, Fairfield MSA '20, MSF '21)

3. "Differences of opinion, short-sale constraints, and the underperformance of distressed stocks'' (sole authored)

Works-in-Progress

1. "Determinants of CEO-to-employee pay ratio and its effect on productivity, culture, and firm value'' (with Katsiaryna Bardos and Mine Ertugrul)