Current Research Topics

Hedge funds, mutual funds, IPOs

Selected Publications

"Industry Conditions, Growth Opportunities, and Market Reactions to Convertible Debt Financing Decisions," Journal of Banking and Finance, January 2003; "What’s Special About the Role of Underwriter Reputation and Market Activities in IPOs?" Journal of Business, April 2002; "The Long-Run Performance of Firms That Issue Convertible Debt: An Empirical Analysis of Operating Characteristics and Analysts’ Forecasts," Journal of Corporate Finance, December 2001; "Is Convertible Debt a Substitute for Straight Debt or for Common Equity?" Financial Management, Autumn 1999; "Understanding the Design of Convertible Debt," Journal of Applied Corporate Finance, Spring 1998; "Agency Problems, Information Asymmetries, and Convertible Debt Security Design," Journal of Financial Intermediation, January 1998; "New Findings Regarding Day of Week Returns over Trading and Non-Trading Periods," Journal of Finance, December 1984

Awards

Runner-up, Most Significant Paper, Journal of Financial Intermediation, 1998; Outstanding Faculty, BusinessWeek Guide to the Best Business Schools, 1997; Best Dissertation Award, American Institute of Decision Science Thesis Competition, 1995

Professional Activities

Academic positions: Tuck School of Business, 1976–present; Visiting Associate Professor, Graduate School of Management, University of California, Los Angeles, 1982; Visiting Assistant Professor, University of Michigan, 1975–76; Assistant Professor, Columbia University, 1974–75

Nonacademic positions: Chief Investment Officer, Kidder Peabody Asset Management, 1993–94; Director, Head of Financial Strategies Group, Merrill Lynch Capital Markets, 1990–91; Vice President, Head of New Products Group, Morgan Stanley & Co., Inc., 1985–87

Board memberships: Boards of directors: Dillon Read Capital Management, 2006–present, MidFirst Bank, 1992–present; Kidder Peabody Asset Management, 1993–95 

Editorial positions: Editorial Advisory Board, Journal of Investing, 1987–93; Associate Editor, International Journal of Finance Education, Journal of Corporate Finance, 1987–89, Financial Management, 1979–81