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Publications

by members of

University of British Columbia → Sauder School of Business → Finance Division

These are publications listed in RePEc written by members of the above institution who are registered with the RePEc Author Service. Thus this compiles the works all those currently affiliated with this institution, not those affilated at the time of publication. List of registered members. Register yourself. Citation analysis. Find also a compilation of publications from alumni here.

This page is updated in the first days of each month.

| Working papers | Journal articles | Books | Chapters | Software components |

Working papers

2025

  1. Bena, Jan & Ellul, Andrew & Pagano, Marco & Rutigliano, Valentina, 2025, "Entrepreneurs’ Diversification and Labor Income Risk," CEPR Discussion Papers, Centre for Economic Policy Research, number 20353, Jun.
  2. Jan Bena & Andrew Ellul & Marco Pagano & Valentina Rutigliano, 2025, "Entrepreneurs’ Diversification and Labor Income Risk," CSEF Working Papers, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, number 754, Jun, revised 07 Oct 2025.
  3. John Y. Campbell & Carolin Pflueger & Luis M. Viceira, 2025, "Bond-Stock Comovements," NBER Working Papers, National Bureau of Economic Research, Inc, number 34323, Oct.

2024

  1. Carolin Pflueger & Pierre Yared, 2024, "Global Hegemony and Exorbitant Privilege," NBER Working Papers, National Bureau of Economic Research, Inc, number 32775, Aug.
  2. Anna Cieslak & Wenhao Li & Carolin Pflueger, 2024, "Inflation and Treasury Convenience," NBER Working Papers, National Bureau of Economic Research, Inc, number 32881, Aug.

2023

  1. Bena, Jan & Erel, Isil & Wang, Daisy & Weisbach, Michael S., 2023, "Relationship-Specific Investments and Firms' Boundaries: Evidence from Textual Analysis of Patents," Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics, number 2023-27, Dec.
  2. Michael D. Bauer & Carolin Pflueger & Adi Sunderam, 2023, "Perceptions about Monetary Policy," Working Paper Series, Federal Reserve Bank of San Francisco, number 2023-31, Oct, DOI: 10.24148/wp2023-31.
  3. Carolin Pflueger, 2023, "Back to the 1980s or Not? The Drivers of Inflation and Real Risks in Treasury Bonds," NBER Working Papers, National Bureau of Economic Research, Inc, number 30921, Feb.
  4. Anna Cieslak & Carolin Pflueger, 2023, "Inflation and Asset Returns," NBER Working Papers, National Bureau of Economic Research, Inc, number 30982, Mar.

2021

  1. Bena, Jan & Erel, Isil & Wang, Daisy & Weisbach, Michael S., 2021, "Specialized Investments and Firms' Boundaries: Evidence from Textual Analysis of Patents," Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics, number 2021-13, Aug, DOI: 10.2139/ssrn.3906172.

2020

  1. Jan Bena & Serdar Dinc & Isil Erel, 2020, "The International Propagation of Economic Downturns Through Multinational Companies: The Real Economy Channel," NBER Working Papers, National Bureau of Economic Research, Inc, number 27873, Sep.
  2. Jesse Perla & Carolin Pflueger & Michal Szkup, 2020, "Doubling Down on Debt: Limited Liability as a Financial Friction," NBER Working Papers, National Bureau of Economic Research, Inc, number 27747, Aug.
  3. Carolin Pflueger & Gianluca Rinaldi, 2020, "Why Does the Fed Move Markets so Much? A Model of Monetary Policy and Time-Varying Risk Aversion," NBER Working Papers, National Bureau of Economic Research, Inc, number 27856, Sep.

2019

  1. Van Nieuwerburgh, Stijn & Favilukis, Jack & ,, 2019, "Affordable Housing and City Welfare," CEPR Discussion Papers, Centre for Economic Policy Research, number 13758, May.
  2. Carolin Pflueger & Emil Siriwardane & Adi Sunderam, 2019, "Financial Market Risk Perceptions and the Macroeconomy," NBER Working Papers, National Bureau of Economic Research, Inc, number 26290, Sep.

2018

  1. Carolin Pflueger & Emil Siriwardane & Adi Sunderam, 2018, "A Measure of Risk Appetite for the Macroeconomy," NBER Working Papers, National Bureau of Economic Research, Inc, number 24529, Apr.

2017

  1. Bena, Jan & Dinc, Serdar & Erel, Isil, 2017, "Multinational Firms and the International Transmission of Crises: The Real Economy Channel," Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics, number 2017-11, Mar.
  2. Van Nieuwerburgh, Stijn & Favilukis, Jack, 2017, "Out-of-town Home Buyers and City Welfare," CEPR Discussion Papers, Centre for Economic Policy Research, number 12283, Sep.
  3. Xiaoji Lin & Xiaofei Zhao & Jack Favilukis, 2017, "The Elephant in the Room: the Impact of Labor Obligations on Credit Markets," 2017 Meeting Papers, Society for Economic Dynamics, number 896.
  4. Francesco D’Acunto & Ryan Liu & Carolin Pflueger & Michael Weber, 2017, "Flexible Prices and Leverage," NBER Working Papers, National Bureau of Economic Research, Inc, number 23066, Jan.

2016

  1. Wenxin Du & Carolin E. Pflueger & Jesse Schreger, 2016, "Sovereign Debt Portfolios, Bond Risks, and the Credibility of Monetary Policy," NBER Working Papers, National Bureau of Economic Research, Inc, number 22592, Sep.

2015

  1. Lorenzo Garlappi & Jack Favilukis, 2015, "The Carry Trade and UIP when Markets are Incomplete," 2015 Meeting Papers, Society for Economic Dynamics, number 242.

2014

  1. Favilukis, Jack & Lin, Xiaoji & Zhao, Xiaofei, 2014, "The Elephant in the Room: The Impact of Labor Obligations on Credit Risk," Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics, number 2015-17, Dec.
  2. Jack Favilukis & Sydney C. Ludvigson & Stijn Van Nieuwerburgh, 2014, "Foreign Ownership of U.S. Safe Assets: Good or Bad?," NBER Working Papers, National Bureau of Economic Research, Inc, number 19917, Feb.
  3. Luis Viceira & Carolin Pflueger & John Campbell, 2014, "Monetary Policy Drivers of Bond and Equity Risks," 2014 Meeting Papers, Society for Economic Dynamics, number 137.

2013

  1. John Y. Campbell & Carolin Pflueger & Luis M. Viceira, 2013, "Macroeconomic Drivers of Bond and Equity Risks," Harvard Business School Working Papers, Harvard Business School, number 14-031, Sep, revised Aug 2018.

2012

  1. Xiaohong Chen & Jack Favilukis & Sydney Ludvigson, 2012, "An estimation of economic models with recursive preferences," CeMMAP working papers, Institute for Fiscal Studies, number 32/12, Oct, DOI: 10.1920/wp.cem.2012.3212.
  2. Favilukis, Jack & Lin, Xiaoji, 2012, "Long Run Productivity Risk and Aggregate Investment," Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics, number 2012-14, Jul.
  3. Favilukis, Jack & Lin, Xiaoji, 2012, "Wage Rigidity: A Solution to Several Asset Pricing Puzzles," Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics, number 2012-16, Sep.
  4. Favilukis, Jack & Lin, Xiaoji, 2012, "Does Wage Rigidity Make Firms Riskier? Evidence from Long-Horizon Return Predictability," Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics, number 2012-19, Oct.
  5. Dragana Cvijanovic & Jack Favilukis & Christopher Polk, 2012, "New in Town: Demographics, Immigration, and the Price of Real Estate," Working Papers, HAL, number hal-00686122, Apr.
  6. Jack Favilukis & David Kohn & Sydney C. Ludvigson & Stijn Van Nieuwerburgh, 2012, "International Capital Flows and House Prices: Theory and Evidence," NBER Working Papers, National Bureau of Economic Research, Inc, number 17751, Jan.

2011

  1. Jan Bena & Peter Ondko & Evangelia Vourvachaki, 2011, "Productivity Gains from Services Liberalization in Europe," CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague, number wp452, Dec.
  2. Favilukis, Jack & Lin, Xiaoji, 2011, "Micro frictions, asset pricing, and aggregate implications," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library, number 119075, Feb.
  3. Jack Favilukis & Xiaoji Lin, 2011, "Micro Frictions, Asset Pricing and Aggregate," FMG Discussion Papers, Financial Markets Group, number dp673, Feb.
  4. Laurent-Emmanuel Calvet & Benoît B. Mandelbrot & Adlai J. Fisher, 2011, "Large Deviation Theory and the Distribution of Price Changes," Working Papers, HAL, number hal-00601869, Jun.
  5. Laurent-Emmanuel Calvet & Benoît B. Mandelbrot & Adlai J. Fisher, 2011, "Multifractality of US Dollar/Deutsche Mark Exchange Rates," Working Papers, HAL, number hal-00601871, Jun.
  6. Carolin E. Pflueger & Luis M. Viceira, 2011, "Return Predictability in the Treasury Market: Real Rates, Inflation, and Liquidity," Harvard Business School Working Papers, Harvard Business School, number 11-094, Mar, revised Sep 2013.
  7. Carolin E. Pflueger & Luis M. Viceira, 2011, "Inflation-Indexed Bonds and the Expectations Hypothesis," NBER Working Papers, National Bureau of Economic Research, Inc, number 16903, Mar.

2010

  1. Jack Favilukis & Sydney C. Ludvigson & Stijn Van Nieuwerburgh, 2010, "The Macroeconomic Effects of Housing Wealth, Housing Finance, and Limited Risk-Sharing in General Equilibrium," NBER Working Papers, National Bureau of Economic Research, Inc, number 15988, May.

2009

  1. Jan Bena & Peter Ondko, 2009, "Financial Development and Allocation of External Finance," CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague, number wp398, Nov.
  2. A. Fisher & Laurent-Emmanuel Calvet, 2009, "Multifractal Volatility: Theory, Estimation and Forecasting," Post-Print, HAL, number hal-00495925, Oct.

2008

  1. Jan Bena, 2008, "The Effect of Credit Rationing on the Shape of the Competition-Innovation Relationship," CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague, number wp377, Dec.
  2. Laurent-Emmanuel Calvet & Adlai J. Fisher, 2008, "Multifrequency jump-diffusions: An equilibrium approach," Post-Print, HAL, number hal-00459681, Jan, DOI: 10.1016/j.jmateco.2007.06.001.
  3. Laurent E. Calvet & Adlai Fisher, 2008, "Multifractal Volatility: Theory, Forecasting and Pricing," Post-Print, HAL, number hal-00671877.

2007

  1. Jan Bena, & Stepan Jurajda, 2007, "Financial Development and Growth in Direct Firm-Level Comparisons," CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague, number wp317, Mar.
  2. Jan Bena & Stepan Jurajda, 2007, "Which Firms Benefit More from Financial Development?," CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague, number wp330, Jun.
  3. Favilukis, Jack, 2007, "Inequality, stock market participation, and the equity premium," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library, number 24500, Nov.
  4. Sydney C. Ludvigson & Xiaohong Chen & Jack Favilukis, 2007, "An Estimation of Economic Models with Recursive," FMG Discussion Papers, Financial Markets Group, number dp603, Nov.
  5. Laurent-Emmanuel Calvet & Adlai J. Fisher, 2007, "Multifrequency news and stock returns," Post-Print, HAL, number hal-00459675, Oct, DOI: 10.1016/j.jfineco.2006.09.001.
  6. Jarrad Harford & Dirk Jenter & Kai Li, 2007, "Conflicts of Interests Among Shareholders: The Case of Corporate Acquisitions," NBER Working Papers, National Bureau of Economic Research, Inc, number 13274, Jul.

2006

  1. Jan Bena & Jan Hanousek, 2006, "Rent Extraction by Large Shareholders: Evidence Using Dividend Policy in the Czech Republic," CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague, number wp291, Feb.
  2. Jan Bena, 2006, "Choice of Corporate Risk Management Tools under Moral Hazard," CERGE-EI Working Papers, The Center for Economic Research and Graduate Education - Economics Institute, Prague, number wp298, May.
  3. Laurent-Emmanuel Calvet & Adlai J. Fisher & Samuel B. Thompson, 2006, "Volatility Comovement: a multifrequency approach," Post-Print, HAL, number hal-00459667, Mar, DOI: 10.1016/j.jeconom.2005.01.008.

2004

  1. Laurent-Emmanuel Calvet & Adlai J. Fisher, 2004, "How to Forecast Long-Run Volatility: Regime Switching and the Estimation of Multifractal Processes," Post-Print, HAL, number hal-00478472, DOI: 10.1093/jjfinec/nbh003.
  2. Ron Giammarino & Murray Carlson & Adlai Fisher, 2004, "Corporate Investment and Asset Price Dynamics: Implications for Post-SEO Performance," 2004 Meeting Papers, Society for Economic Dynamics, number 812.
  3. Kai Li, 2004, "The Growth of Global Equity Markets: A Closer Look," Econometric Society 2004 North American Winter Meetings, Econometric Society, number 54, Aug.

2003

  1. Laurent Calvet & Adlai Fisher, 2003, "Regime-Switching and the Estimation of Multifractal Processes," Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research, number 1999.
  2. Kai Li & Dale J. Poirier, 2003, "Relationship Between Maternal Behavior During Pregnancy, Birth Outcome, and Early Childhood Development: An Exploratory Study," CESifo Working Paper Series, CESifo, number 1030.

2002

  1. Laurent-Emmanuel Calvet & Adlai J. Fisher, 2002, "Multifractality in Asset Returns: Theory and Evidence," Post-Print, HAL, number hal-00478175, Aug, DOI: 10.1162/003465302320259420.

2001

  1. Chakravarty, Sugato & Li, Kai, 2001, "An Examination of Own Account Trading by Dual Traders in Futures Markets," Purdue University Economics Working Papers, Purdue University, Department of Economics, number 1151.

2000

  1. Kai Li & Dale J. Poirier, 2000, "An Econometric Model of Birth Inputs and Outputs," Econometric Society World Congress 2000 Contributed Papers, Econometric Society, number 0352, Aug.
  2. Chakravarty, Sugato & Li, Kai, 2000, "An Analysis of Own Account Trading by Dual Traders in Futures Markets: A Bayesian Approach," Purdue University Economics Working Papers, Purdue University, Department of Economics, number 1127, Feb.

1999

  1. Laurent Calvet & Adlai Fisher, 1999, "Forecasting Multifractal Volatility," New York University, Leonard N. Stern School Finance Department Working Paper Seires, New York University, Leonard N. Stern School of Business-, number 99-017, Feb.
  2. Adlai Fisher, 1999, "Multivariate Stock Returns Around Extreme Events: A Reassessment of Economic Fundamentals and the 1987 Market Crash," New York University, Leonard N. Stern School Finance Department Working Paper Seires, New York University, Leonard N. Stern School of Business-, number 99-071, Sep.
  3. Kai Li & Asani Sarkar & Zhenyu Wang, 1999, "Assessing the impact of short-sale constraints on the gains from international diversification," Staff Reports, Federal Reserve Bank of New York, number 89, Oct.

1998

  1. Gary Koop & Kai Li, 1998, "The valuation of IPO, SEO and Post-Chapter 11 firms: A Stochastic Frontier Approach," Edinburgh School of Economics Discussion Paper Series, Edinburgh School of Economics, University of Edinburgh, number 13, Jul.

1997

  1. Benoit Mandelbrot & Adlai Fisher & Laurent Calvet, 1997, "A Multifractal Model of Asset Returns," Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University, number 1164, Sep.
  2. Laurent Calvet & Adlai Fisher & Benoit Mandelbrot, 1997, "Large Deviations and the Distribution of Price Changes," Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University, number 1165, Sep.
  3. Adlai Fisher & Laurent Calvet & Benoit Mandelbrot, 1997, "Multifractality of Deutschemark/US Dollar Exchange Rates," Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University, number 1166, Sep.

Undated

  1. Huafeng Chen & Michal Pakos, undated, "Habit Formation, Time-Varying Risk Aversion and the Cross-Section of Expected Returns," GSIA Working Papers, Carnegie Mellon University, Tepper School of Business, number 2007-E27.
  2. Ron Giammarino & Robert Heinkel & Burton Hollifield & Kai Li, undated, "Corporate Decisions, Information, and Prices: Do Managers Move Prices or Do Prices Move Managers?," GSIA Working Papers, Carnegie Mellon University, Tepper School of Business, number 2001-E16.

Journal articles

2025

  1. Jan Bena & Elena Simintzi, 2025, "Machines could not compete with Chinese labor: evidence from US firms’ innovation," Review of Finance, European Finance Association, volume 29, issue 6, pages 1619-1661.
  2. Michael D. Bauer & Carolin Pflueger & Adi Sunderam, 2025, "Current Perceptions About Monetary Policy," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, volume 2025, issue 05, pages 1-6, February.

2024

  1. Jack Favilukis & Terry Zhang, 2024, "Why momentum concentrates among overvalued stocks?," Review of Finance, European Finance Association, volume 28, issue 2, pages 389-412.

2023

  1. Jack Favilukis & Pierre Mabille & Stijn Van Nieuwerburgh, 2023, "Affordable Housing and City Welfare," The Review of Economic Studies, Review of Economic Studies Ltd, volume 90, issue 1, pages 293-330.

2022

  1. Bena, Jan & Dinc, Serdar & Erel, Isil, 2022, "The international propagation of economic downturns through multinational companies: The real economy channel," Journal of Financial Economics, Elsevier, volume 146, issue 1, pages 277-304, DOI: 10.1016/j.jfineco.2021.09.005.
  2. Bena, Jan & Ortiz-Molina, Hernán & Simintzi, Elena, 2022, "Shielding firm value: Employment protection and process innovation," Journal of Financial Economics, Elsevier, volume 146, issue 2, pages 637-664, DOI: 10.1016/j.jfineco.2021.10.005.
  3. Adlai Fisher & Charles Martineau & Jinfei Sheng, 2022, "Macroeconomic Attention and Announcement Risk Premia," The Review of Financial Studies, Society for Financial Studies, volume 35, issue 11, pages 5057-5093.

2021

  1. Jack Favilukis & Stijn Van Nieuwerburgh, 2021, "Out‐of‐Town Home Buyers and City Welfare," Journal of Finance, American Finance Association, volume 76, issue 5, pages 2577-2638, October, DOI: 10.1111/jofi.13057.
  2. Griffin, Dale & Li, Kai & Xu, Ting, 2021, "Board Gender Diversity and Corporate Innovation: International Evidence," Journal of Financial and Quantitative Analysis, Cambridge University Press, volume 56, issue 1, pages 123-154, February.

2020

  1. Jan Bena & Lorenzo Garlappi, 2020, "Corporate Innovation and Returns
    [Last-in first-out oligopoly dynamics]    ," The Review of Corporate Finance Studies, Society for Financial Studies, volume 9, issue 2, pages 340-383.
  2. Jack Favilukis & Xiaoji Lin & Xiaofei Zhao, 2020, "The Elephant in the Room: The Impact of Labor Obligations on Credit Markets," American Economic Review, American Economic Association, volume 110, issue 6, pages 1673-1712, June, DOI: 10.1257/aer.20170156.
  3. Paolo Colla & Filippo Ippolito & Kai Li, 2020, "Debt Structure," Annual Review of Financial Economics, Annual Reviews, volume 12, issue 1, pages 193-215, December, DOI: 10.1146/annurev-financial-012820-01.
  4. Gao, Huasheng & Hsu, Po-Hsuan & Li, Kai & Zhang, Jin, 2020, "The Real Effect of Smoking Bans: Evidence from Corporate Innovation," Journal of Financial and Quantitative Analysis, Cambridge University Press, volume 55, issue 2, pages 387-427, March.

2019

  1. Kai Li & Jiaping Qiu & Jin Wang, 2019, "Technology Conglomeration, Strategic Alliances, and Corporate Innovation," Management Science, INFORMS, volume 65, issue 11, pages 5065-5090, November, DOI: 10.1287/mnsc.2018.3085.

2018

  1. Calvet, Laurent E. & Fisher, Adlai J. & Wu, Liuren, 2018, "Staying on Top of the Curve: A Cascade Model of Term Structure Dynamics," Journal of Financial and Quantitative Analysis, Cambridge University Press, volume 53, issue 2, pages 937-963, April.
  2. Gao, Huasheng & Hsu, Po-Hsuan & Li, Kai, 2018, "Innovation Strategy of Private Firms," Journal of Financial and Quantitative Analysis, Cambridge University Press, volume 53, issue 1, pages 1-32, February.
  3. Li, Kai & Qiu, Buhui & Shen, Rui, 2018, "Organization Capital and Mergers and Acquisitions," Journal of Financial and Quantitative Analysis, Cambridge University Press, volume 53, issue 4, pages 1871-1909, August.
  4. Griffin, Dale & Guedhami, Omrane & Li, Kai & Kwok, Chuck C.Y. & Shao, Liang, 2018, "National Culture and the Value Implication of Corporate Governance," Journal of Law, Finance, and Accounting, now publishers, volume 3, issue 2, pages 333-372, December, DOI: 10.1561/108.00000028.
  5. Vyacheslav Fos & Kai Li & Margarita Tsoutsoura, 2018, "Do Director Elections Matter?," The Review of Financial Studies, Society for Financial Studies, volume 31, issue 4, pages 1499-1531.
  6. Kai Li & Tingting Liu & Juan (Julie) Wu, 2018, "Vote Avoidance and Shareholder Voting in Mergers and Acquisitions," The Review of Financial Studies, Society for Financial Studies, volume 31, issue 8, pages 3176-3211.

2017

  1. Bena, Jan & Ferreira, Miguel A & Matos, Pedro & Pires, Pedro, 2017, "Are foreign investors locusts? The long-term effects of foreign institutional ownership," Journal of Financial Economics, Elsevier, volume 126, issue 1, pages 122-146, DOI: 10.1016/j.jfineco.2017.07.005.
  2. Jan Bena & Ting Xu, 2017, "Competition and Ownership Structure of Closely Held Firms," The Review of Financial Studies, Society for Financial Studies, volume 30, issue 5, pages 1583-1626.
  3. Jack Favilukis & Sydney C. Ludvigson & Stijn Van Nieuwerburgh, 2017, "The Macroeconomic Effects of Housing Wealth, Housing Finance, and Limited Risk Sharing in General Equilibrium," Journal of Political Economy, University of Chicago Press, volume 125, issue 1, pages 140-223, DOI: 10.1086/689606.
  4. Gao, Huasheng & Harford, Jarrad & Li, Kai, 2017, "CEO Turnover–Performance Sensitivity in Private Firms," Journal of Financial and Quantitative Analysis, Cambridge University Press, volume 52, issue 2, pages 583-611, April.
  5. Dale Griffin & Omrane Guedhami & Chuck C Y Kwok & Kai Li & Liang Shao, 2017, "National culture: The missing country-level determinant of corporate governance," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, volume 48, issue 6, pages 740-762, August, DOI: 10.1057/s41267-017-0069-9.

2016

  1. Jan Bena & Lorenzo Garlappi & Patrick Grüning, 2016, "Heterogeneous Innovation, Firm Creation and Destruction, and Asset Prices," The Review of Asset Pricing Studies, Society for Financial Studies, volume 6, issue 1, pages 46-87.
  2. Favilukis, Jack & Lin, Xiaoji, 2016, "Does wage rigidity make firms riskier? Evidence from long-horizon return predictability," Journal of Monetary Economics, Elsevier, volume 78, issue C, pages 80-95, DOI: 10.1016/j.jmoneco.2016.01.003.
  3. Jack Favilukis & Xiaoji Lin, 2016, "Wage Rigidity: A Quantitative Solution to Several Asset Pricing Puzzles," The Review of Financial Studies, Society for Financial Studies, volume 29, issue 1, pages 148-192.
  4. Oliver Boguth & Murray Carlson & Adlai Fisher & Mikhail Simutin, 2016, "Horizon Effects in Average Returns: The Role of Slow Information Diffusion," The Review of Financial Studies, Society for Financial Studies, volume 29, issue 8, pages 2241-2281.
  5. Li, Kai & Wang, Wei, 2016, "Debtor-in-possession financing, loan-to-loan, and loan-to-own," Journal of Corporate Finance, Elsevier, volume 39, issue C, pages 121-138, DOI: 10.1016/j.jcorpfin.2016.06.004.

2015

  1. Calvet, Laurent E. & Fearnley, Marcus & Fisher, Adlai J. & Leippold, Markus, 2015, "What is beneath the surface? Option pricing with multifrequency latent states," Journal of Econometrics, Elsevier, volume 187, issue 2, pages 498-511, DOI: 10.1016/j.jeconom.2015.02.034.
  2. Gao, Huasheng & Li, Kai, 2015, "A comparison of CEO pay–performance sensitivity in privately-held and public firms," Journal of Corporate Finance, Elsevier, volume 35, issue C, pages 370-388, DOI: 10.1016/j.jcorpfin.2015.10.005.
  3. Maurice Levi & Kai Li & Feng Zhang, 2015, "Are Women More Likely to Seek Advice than Men? Evidence from the Boardroom," JRFM, MDPI, volume 8, issue 1, pages 1-23, February.
  4. Johnny Kang & Carolin E. Pflueger, 2015, "Inflation Risk in Corporate Bonds," Journal of Finance, American Finance Association, volume 70, issue 1, pages 115-162, February.
  5. Carolin E. Pflueger & Su Wang, 2015, "A robust test for weak instruments in Stata," Stata Journal, StataCorp LLC, volume 15, issue 1, pages 216-225, March.

2014

  1. Jan Bena & Kai Li, 2014, "Corporate Innovations and Mergers and Acquisitions," Journal of Finance, American Finance Association, volume 69, issue 5, pages 1923-1960, October.
  2. Carlson, Murray & Dockner, Engelbert J. & Fisher, Adlai & Giammarino, Ron, 2014, "Leaders, Followers, and Risk Dynamics in Industry Equilibrium," Journal of Financial and Quantitative Analysis, Cambridge University Press, volume 49, issue 2, pages 321-349, April.
  3. Levi, Maurice & Li, Kai & Zhang, Feng, 2014, "Director gender and mergers and acquisitions," Journal of Corporate Finance, Elsevier, volume 28, issue C, pages 185-200, DOI: 10.1016/j.jcorpfin.2013.11.005.

2013

  1. Bena, Jan & Ortiz-Molina, Hernán, 2013, "Pyramidal ownership and the creation of new firms," Journal of Financial Economics, Elsevier, volume 108, issue 3, pages 798-821, DOI: 10.1016/j.jfineco.2013.01.009.
  2. Xiaohong Chen & Jack Favilukis & Sydney C. Ludvigson, 2013, "An estimation of economic models with recursive preferences," Quantitative Economics, Econometric Society, volume 4, issue 1, pages 39-83, March, DOI: QE97.
  3. Favilukis, Jack, 2013, "Inequality, stock market participation, and the equity premium," Journal of Financial Economics, Elsevier, volume 107, issue 3, pages 740-759, DOI: 10.1016/j.jfineco.2012.10.008.
  4. Favilukis, Jack & Lin, Xiaoji, 2013, "Long run productivity risk and aggregate investment," Journal of Monetary Economics, Elsevier, volume 60, issue 6, pages 737-751, DOI: 10.1016/j.jmoneco.2013.05.002.
  5. Paolo Colla & Filippo Ippolito & Kai Li, 2013, "Debt Specialization," Journal of Finance, American Finance Association, volume 68, issue 5, pages 2117-2141, October.
  6. Li, Kai & Griffin, Dale & Yue, Heng & Zhao, Longkai, 2013, "How does culture influence corporate risk-taking?," Journal of Corporate Finance, Elsevier, volume 23, issue C, pages 1-22, DOI: 10.1016/j.jcorpfin.2013.07.008.
  7. Gao, Huasheng & Harford, Jarrad & Li, Kai, 2013, "Determinants of corporate cash policy: Insights from private firms," Journal of Financial Economics, Elsevier, volume 109, issue 3, pages 623-639, DOI: 10.1016/j.jfineco.2013.04.008.
  8. José Luis Montiel Olea & Carolin Pflueger, 2013, "A Robust Test for Weak Instruments," Journal of Business & Economic Statistics, Taylor & Francis Journals, volume 31, issue 3, pages 358-369, July, DOI: 10.1080/00401706.2013.806694.

2012

  1. Bena, Jan & Ondko, Peter, 2012, "Financial development and the allocation of external finance," Journal of Empirical Finance, Elsevier, volume 19, issue 1, pages 1-25, DOI: 10.1016/j.jempfin.2011.11.002.
  2. Chen, Huafeng (Jason) & Chen, Shaojun (Jenny), 2012, "Investment-cash flow sensitivity cannot be a good measure of financial constraints: Evidence from the time series," Journal of Financial Economics, Elsevier, volume 103, issue 2, pages 393-410, DOI: 10.1016/j.jfineco.2011.08.009.
  3. Wei Jiang & Kai Li & Wei Wang, 2012, "Hedge Funds and Chapter 11," Journal of Finance, American Finance Association, volume 67, issue 2, pages 513-560, April, DOI: j.1540-6261.2012.01724.x.
  4. Gao, Huasheng & Harford, Jarrad & Li, Kai, 2012, "CEO pay cuts and forced turnover: Their causes and consequences," Journal of Corporate Finance, Elsevier, volume 18, issue 2, pages 291-310, DOI: 10.1016/j.jcorpfin.2012.01.001.

2011

  1. Jan Bena & Štěpán Jurajda, 2011, "Financial Development and Corporate Growth in the EU Single Market," Economica, London School of Economics and Political Science, volume 78, issue 311, pages 401-428, July.
  2. Chen, Huafeng Jason & Kacperczyk, Marcin & Ortiz-Molina, Hernán, 2011, "Labor Unions, Operating Flexibility, and the Cost of Equity," Journal of Financial and Quantitative Analysis, Cambridge University Press, volume 46, issue 1, pages 25-58, February.
  3. Chen, Huafeng (Jason), 2011, "Firm life expectancy and the heterogeneity of the book-to-market effect," Journal of Financial Economics, Elsevier, volume 100, issue 2, pages 402-423, May.
  4. Huafeng (JASON) Chen & Marcin Kacperczyk & Hernán Ortiz-Molina, 2011, "Do Nonfinancial Stakeholders Affect the Pricing of Risky Debt? Evidence from Unionized Workers," Review of Finance, European Finance Association, volume 16, issue 2, pages 347-383.
  5. Boguth, Oliver & Carlson, Murray & Fisher, Adlai & Simutin, Mikhail, 2011, "Conditional risk and performance evaluation: Volatility timing, overconditioning, and new estimates of momentum alphas," Journal of Financial Economics, Elsevier, volume 102, issue 2, pages 363-389, DOI: 10.1016/j.jfineco.2011.06.002.
  6. Bhamra, Harjoat S. & Fisher, Adlai J. & Kuehn, Lars-Alexander, 2011, "Monetary policy and corporate default," Journal of Monetary Economics, Elsevier, volume 58, issue 5, pages 480-494, DOI: 10.1016/j.jmoneco.2011.05.010.
  7. Harford, Jarrad & Jenter, Dirk & Li, Kai, 2011, "Institutional cross-holdings and their effect on acquisition decisions," Journal of Financial Economics, Elsevier, volume 99, issue 1, pages 27-39, January.
  8. Kai Li & Tan Wang & Yan-Leung Cheung & Ping Jiang, 2011, "Privatization and Risk Sharing: Evidence from the Split Share Structure Reform in China," The Review of Financial Studies, Society for Financial Studies, volume 24, issue 7, pages 2499-2525.
  9. Kai Li & Dale Griffin & Heng Yue & Longkai Zhao, 2011, "National culture and capital structure decisions: Evidence from foreign joint ventures in China," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, volume 42, issue 4, pages 477-503, May.
  10. Carolin E. Pflueger & Luis M. Viceira, 2011, "Inflation-Indexed Bonds and the Expectations Hypothesis," Annual Review of Financial Economics, Annual Reviews, volume 3, issue 1, pages 139-158, December.

2010

  1. Murray Carlson & Adlai Fisher & Ron Giammarino, 2010, "SEO Risk Dynamics," The Review of Financial Studies, Society for Financial Studies, volume 23, issue 11, pages 4026-4077, November.
  2. Maurice Levi & Kai Li & Feng Zhang, 2010, "Deal or No Deal: Hormones and the Mergers and Acquisitions Game," Management Science, INFORMS, volume 56, issue 9, pages 1462-1483, September, DOI: 10.1287/mnsc.1100.1206.
  3. Wei Jiang & Kai Li & Pei Shao, 2010, "When Shareholders Are Creditors: Effects of the Simultaneous Holding of Equity and Debt by Non-commercial Banking Institutions," The Review of Financial Studies, Society for Financial Studies, volume 23, issue 10, pages 3595-3637, October.

2009

  1. Li, Kai & Yue, Heng & Zhao, Longkai, 2009, "Ownership, institutions, and capital structure: Evidence from China," Journal of Comparative Economics, Elsevier, volume 37, issue 3, pages 471-490, September.

2008

  1. Jan Bena & Jan Hanousek, 2008, "Rent Extraction by Large Shareholders: Evidence Using Dividend Policy in the Czech Republic," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, volume 58, issue 03-04, pages 106-130, May.
  2. Adlai Fisher & Robert Heinkel, 2008, "Reputation and Managerial Truth‐Telling as Self‐Insurance," Journal of Economics & Management Strategy, Wiley Blackwell, volume 17, issue 2, pages 489-540, June, DOI: 10.1111/j.1530-9134.2008.00185.x.
  3. Calvet, Laurent E. & Fisher, Adlai J., 2008, "Multifrequency jump-diffusions: An equilibrium approach," Journal of Mathematical Economics, Elsevier, volume 44, issue 2, pages 207-226, January.
  4. Kai Li & Xinlei Zhao, 2008, "Asymmetric Information and Dividend Policy," Financial Management, Financial Management Association International, volume 37, issue 4, pages 673-694, December, DOI: 10.1111/j.1755-053X.2008.00030.x.
  5. Kai Li & Hernán Ortiz‐Molina & Xinlei Zhao, 2008, "Do Voting Rights Affect Institutional Investment Decisions? Evidence from Dual‐Class Firms," Financial Management, Financial Management Association International, volume 37, issue 4, pages 713-745, December, DOI: 10.1111/j.1755-053X.2008.00032.x.
  6. Jarrad Harford & Kai Li & Xinlei Zhao, 2008, "Corporate boards and the leverage and debt maturity choices," International Journal of Corporate Governance, Inderscience Enterprises Ltd, volume 1, issue 1, pages 3-27.

2007

  1. Calvet, Laurent E. & Fisher, Adlai J., 2007, "Multifrequency news and stock returns," Journal of Financial Economics, Elsevier, volume 86, issue 1, pages 178-212, October.
  2. Jarrad Harford & Kai Li, 2007, "Decoupling CEO Wealth and Firm Performance: The Case of Acquiring CEOs," Journal of Finance, American Finance Association, volume 62, issue 2, pages 917-949, April, DOI: 10.1111/j.1540-6261.2007.01227.x.
  3. Li, Kai, 2007, "The growth in equity market size and trading activity: An international study," Journal of Empirical Finance, Elsevier, volume 14, issue 1, pages 59-90, January.
  4. Chen, Xia & Harford, Jarrad & Li, Kai, 2007, "Monitoring: Which institutions matter?," Journal of Financial Economics, Elsevier, volume 86, issue 2, pages 279-305, November.

2006

  1. Murray Carlson & Adlai Fisher & Ron Giammarino, 2006, "Corporate Investment and Asset Price Dynamics: Implications for SEO Event Studies and Long‐Run Performance," Journal of Finance, American Finance Association, volume 61, issue 3, pages 1009-1034, June, DOI: 10.1111/j.1540-6261.2006.00865.x.
  2. Calvet, Laurent E. & Fisher, Adlai J. & Thompson, Samuel B., 2006, "Volatility comovement: a multifrequency approach," Journal of Econometrics, Elsevier, volume 131, issue 1-2, pages 179-215.

2004

  1. Li, Kai, 2004, "Confidence in the Familiar: An International Perspective," Journal of Financial and Quantitative Analysis, Cambridge University Press, volume 39, issue 1, pages 47-68, March.

2003

  1. Li, Kai & Poirier, Dale J., 2003, "An econometric model of birth inputs and outputs for Native Americans," Journal of Econometrics, Elsevier, volume 113, issue 2, pages 337-361, April.
  2. Li, Kai & Sarkar, Asani & Wang, Zhenyu, 2003, "Diversification benefits of emerging markets subject to portfolio constraints," Journal of Empirical Finance, Elsevier, volume 10, issue 1-2, pages 57-80, February.
  3. Chakravarty, Sugato & Li, Kai, 2003, "A Bayesian analysis of dual trader informativeness in futures markets," Journal of Empirical Finance, Elsevier, volume 10, issue 3, pages 355-371, May.
  4. Hollifield, Burton & Koop, Gary & Li, Kai, 2003, "A Bayesian analysis of a variance decomposition for stock returns," Journal of Empirical Finance, Elsevier, volume 10, issue 5, pages 583-601, December.
  5. Chakravarty, Sugato & Li, Kai, 2003, "An examination of own account trading by dual traders in futures markets," Journal of Financial Economics, Elsevier, volume 69, issue 2, pages 375-397, August.
  6. Kai Li & Dale J. Poirier, 2003, "Bayesian analysis of an econometric model of birth inputs and outputs," Journal of Population Economics, Springer;European Society for Population Economics, volume 16, issue 3, pages 597-625, August, DOI: 10.1007/s00148-003-0152-3.

2002

  1. Laurent Calvet & Adlai Fisher, 2002, "Multifractality In Asset Returns: Theory And Evidence," The Review of Economics and Statistics, MIT Press, volume 84, issue 3, pages 381-406, August.
  2. Kai Li & Asani Sarkar, 2002, "Should U.S. investors hold foreign stocks?," Current Issues in Economics and Finance, Federal Reserve Bank of New York, volume 8, issue Mar.

2001

  1. Calvet, Laurent & Fisher, Adlai, 2001, "Forecasting multifractal volatility," Journal of Econometrics, Elsevier, volume 105, issue 1, pages 27-58, November.
  2. Koop, Gary & Li, Kai, 2001, "The valuation of IPO and SEO firms," Journal of Empirical Finance, Elsevier, volume 8, issue 4, pages 375-401, September.

1999

  1. Li, Kai, 1999, "Testing Symmetry and Proportionality in PPP: A Panel-Data Approach," Journal of Business & Economic Statistics, American Statistical Association, volume 17, issue 4, pages 409-418, October.
  2. Li, Kai, 1999, "Bayesian analysis of duration models: an application to Chapter 11 bankruptcy," Economics Letters, Elsevier, volume 63, issue 3, pages 305-312, June.
  3. Li, Kai, 1999, "Exchange Rate Target Zone Models: A Bayesian Evaluation," Journal of Applied Econometrics, John Wiley & Sons, Ltd., volume 14, issue 5, pages 461-490, Sept.-Oct.

1998

  1. Kai, Li, 1998, "Bayesian inference in a simultaneous equation model with limited dependent variables," Journal of Econometrics, Elsevier, volume 85, issue 2, pages 387-400, August.

Books

2008

  1. Calvet, Laurent E. & Fisher, Adlai J., 2008, "Multifractal Volatility," Elsevier Monographs, Elsevier, number 9780121500139, edition 1, ISBN: ARRAY(0x7b86fa60).

Chapters

2021

  1. Kai Li & Feng Mai & Rui Shen & Xinyan Yan, 2021, "Measuring Corporate Culture Using Machine Learning," NBER Chapters, National Bureau of Economic Research, Inc, "Big Data: Long-Term Implications for Financial Markets and Firms".

2012

  1. Jack Favilukis & David Kohn & Sydney C. Ludvigson & Stijn Van Nieuwerburgh, 2012, "International Capital Flows and House Prices: Theory and Evidence," NBER Chapters, National Bureau of Economic Research, Inc, "Housing and the Financial Crisis".

Software components

2013

  1. Carolin E. Pflueger & Su Wang, 2013, "WEAKIVTEST: Stata module to perform weak instrument test for a single endogenous regressor in TSLS and LIML," Statistical Software Components, Boston College Department of Economics, number S457732, revised 22 Jul 2026.

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