- CEAR Scholar from 2013 to 2017.
My research interest is empirical corporate finance, with a focus on the interactions between the firm and its important stakeholders such as the employees, suppliers, customers, etc. Stakeholders provide important contributions to the firms, but are also influenced by the markets for their own services. An important theme of my research is to understand how corporate policies are shaped by the frictions in product and labor markets and the incentives of important nonfinancial stakeholders. In my studies, I have explored how labor mobility frictions and the incentives of unionized workers impact firm valuation, financial policies, and product quality. Another theme relates to the shareholder-stakeholder contracting relationship. Specifically, I study the implications of stakeholder orientation on corporate governance and firm policies. I also analyze whether important corporate events such as mergers enable shareholders to capture a larger economic surplus from their contracting relationship with the stakeholders.