Working Papers

· Internal Capital Allocation and Firm Performance (with Ilan Guedj and Johan Sulaeman, October 2009.)

· Risk Shifting and Mutual Fund Performance (with Clemens Sialm and Hanjiang Zhang, August 2009.)

· Are ETFs Replacing Index Mutual Funds? (with Ilan Guedj, March 2009.)

Publications

· Market Liquidity, Asset Prices, and Welfare (with Jiang Wang, 2010, Journal of Financial Economics, 95 (1), 107-127.)

· Liquidity and Market Crashes (with Jiang Wang, 2009, Review of Financial Studies, 22 (7), 2607-2643.)

· Taxable and Tax-Deferred Investing: A Tax-Arbitrage Approach (2008, Review of Financial Studies, 21 (5), 2173-2207.)

· Participation Costs and the Sensitivity of Fund Flows to Past Performance (with Kelsey Wei and Hong Yan, 2007, Journal of Finance, 62 (3), 1273-1311.)

· The Tradeoff between Mortgage Prepayments and Tax-Deferred Retirement Savings (with Gene Amromin and Clemens Sialm, 2007, Journal of Public Economics, 91, 2014-2040.)

· Are Stocks Desirable in Tax-Deferred Accounts? (with Lorenzo Garlappi, 2006, Journal of Public Economics, 90 (12), 2257-2283.)

· Market Structure, Security Prices and Informational Efficiency (with Jiang Wang, 1997, Macroeconomic Dynamics, 1 (1), 169-205.)