Financial Analysis & Valuation

Research on accounting information, market efficiency, and valuation models.

Working Papers

Working PaperGoing by the Book: Valuation Ratios and Stock Returns

with Ki-Soon Choi and Eric C. So

Working PaperStock Investors' Returns are Exaggerated

with Jesse Fried and Paul Ma

Working PaperConnecting Expected Stock Returns to Accounting Valuation Multiples: A Primer

with Akash Chattopadhyay and Matthew Lyle

Working PaperrTSR: Properties, Determinants, and Consequences of Benchmark Choice

with Paul Ma and Jee Eun Shin

Working PaperEconomic Uncertainty and Earnings Management

with Luke Stein

Working PaperThe Search for Benchmarks: When Do Crowds Provide Wisdom?

with Charles M.C. Lee and Paul Ma

Working PaperMeasurement Errors of Expected Returns Proxies and the Implied Cost of Capital

Sole Authored

Publications

Variable Leases Under ASC 842: First Evidence on Properties and Consequences

with Jonas Heese and Albert Shin

Review of Accounting Studies (Forthcoming)

Expected Stock Returns Worldwide: A Log-Linear Present-Value Approach

with Akash Chattopadhyay and Matthew Lyle

The Accounting Review (2021)

Evaluating Firm-Level Expected Return Proxies: Implications for Estimating Treatment Effects

with Charles M.C. Lee and Eric C. So

Review of Financial Studies (2021)

Core Earnings: New Data and Evidence

with Ethan Rouen and Eric C. So

Journal of Financial Economics (2021)

The Cross Section of Expected Holding Period Returns and Their Dynamics: A Present Value Approach

with Matthew Lyle

Journal of Financial Economics (2015)

Search-Based Peer Firms: Aggregating Investor Perceptions through Internet Co-Searches

with Charles M.C. Lee and Paul Ma

Journal of Financial Economics (2015)

Boardroom Centrality and Firm Performance

with David F. Larcker and Eric C. So

Journal of Accounting and Economics (2013)