Research

Publications (Google Scholar)

Venture Capital Contracts (with Alex Gorbenko and Arthur Korteweg) [January 2022][pdf] [NBER WP] (Journal of Financial Economics) [slides]

The Deregulation of the Private Equity Markets and the Decline in IPOs (with Joan Farre-Mensa) [Appendix] Review of Financial Studies (2020) [NBER WP] [NBER Digest article] [SocArXiv pdf][Media: Economist, Bloomberg] [slides]

Are Early Stage Investors Biased Against Women?  (with Rick Townsend),  Journal of Financial Economics, 2020 [pdf] [Media: Wired] [slides]

Founder Replacement and Startup Performance (with Matt Marx), Review of Financial Studies 2018 [pdf] [slides]

Cost of Experimentation and the Evolution of Venture Capital (with Ramana Nanda and Matthew Rhodes-Kropf), Journal of Financial Economics 2017 [pdf] [appendix] [NBER WP] [slides]

Managing Performance Signals Through Delay: Evidence from Venture Capital (with I. Chakraborty), Management Science 2017 [pdf]

Is the VC Partnership Greater than the Sum of its Partners? (with M. Rhodes-Kropf), Journal of Finance 2015 [pdf] [online appendix]

Statistical Discrimination or Prejudice? A Large Sample Field Experiment (with C. Wang and B. Tomlin), Review of Economics and Statistics, 2014 [pdf] [replication data]

The Price of Diversifiable Risk in Venture Capital and Private Equity (with C. Jones and M. Rhodes-Kropf), Review of Financial Studies 2013 [pdf]

Working Papers


Local Journalism Under Private Equity Ownership (with Arpit Gupta and Sabrina Howell) [October 2021]


The Evolution of CEO Compensation in Venture Capital Backed Startups (with Ramana Nanda and Christopher Stanton) [May 2020] [NBER WP] [Media: Harvard Law School Forum] Revise & Resubmit, Journal of Finance

Board Dynamics over the Startup Life Cycle (with Nadya Malenko) [February 2020] [Appendix][NBER WP][SSRN] [Media: VoxEU]

Measuring Intangible Capital with Market Prices (with Ryan Peters and Sean Wang) [May 2019][NBER WP]  Revise & Resubmit, Management Science

Regulatory Costs of Being Public: Evidence from Bunching Estimation (with Kairong Xiao and Ting Xu) [December 2020][SocArXiv pdf][SSRN][Media: Blue Sky Blog]

Insider Financing and Venture Capital Returns (with Matthew Rhodes-Kropf and Ilya Strebulaev [October 2016] [pdf