Publications and Accepted Papers [1] A Nonparametric Test of Market Timing, Journal of Empirical Finance, 2003, 10(4), 399-425. [2] Positive Hurdle Rates without Asymmetric Information (with Qi Chen), Financial Research Letters, 2004, 1(2), 106-112. [3] Investor Learning about Analysts Ability (with Qi Chen and Jennifer Francis), Journal of Accounting and Economics, 2005, 39(1), 3-24. [4] A Nonparametric Approach to Measuring and Testing Curvature (with Jason Abrevaya), Journal of Business and Economic Statistics, 2005, 23(1), 1-19. [Data used in the paper] [5] Offering vs. Choice by 401(k) Plan Participants:  Equity Exposure and Number of Funds (with Gur Huberman), Journal of Finance, 2006, vol. XLI(2), 763-801. [6] Analysts' Weighting of Private and Public Information (with Qi Chen), Review of Financial Studies, 2006, vol. 19(1), 319-355. [7] Price Informativeness and Investment Sensitivity to Stock Prices (with Qi Chen and Itay Goldstein), Review of Financial Studies, 2007, vol. 20(3), 619-650. [Data used in the paper] [8] Defined Contribution Pension Plans: Determinants of Participation and Contributions Rates (with Gur Huberman and Sheena Iyenga), Journal of Financial Services Research, 2007, vol. 31(1), 1-32. [9] Hedge Fund Activism, Corporate Governance, and Firm Performance (with Alon Brav, Frank Partnoy, and Randall Thomas), Journal of Finance, 2008, vol. 63, 1729-1775. [10] Director Ownership in the US Mutual Fund Industry (with Qi Chen and Itay Goldstein), Journal of Finance, 2008, vol. 63, 2629-2677. [11] The Returns to Hedge Fund Activism (with Alon Brav, Frank Partnoy, and Randall Thomas), Financial Analyst Journal, 2008, vol. 64, 45-61. [12] Activist Arbitrage: A Study of Open-Ending Attempts of Closed-End Funds (with Michael Bradley, Alon Brav, and Itay Goldstein), Journal of Financial Economics, forthcoming. [Data used in the paper] [13] Payoff Complementarities and Financial Fragility:  Evidence from Mutual Fund Outflows (with Qi Chen and Itay Goldstein), Journal of Financial Economics, forthcoming. Working Papers [1] When Shareholders Are Creditors:  Effects of the Simultaneous Holding of Equity and Debt by Institutional Investors (with Kai Li, and Pei Shao) [2] Takeover Activity and Target Valuations: Evidence of Feedback in Financial Markets (with Alex Edmans and Itay Goldstein) [3] Liar’s Loan? – Effects of Origination Channel and Information Falsification on Mortgage Loan Delinquency (with Ashlyn Nelson and Edward Vytlacil) [4] Mortgage Securitization and Loan Performance: A contrast of Ex Ante and Ex Post Relations (with Ashlyn Nelson and Edward Vytlacil) [coming soon] [5] Do Institutional Investors Have an Ace up Their Sleeves? --Evidence from Confidential Filings of Portfolio Holdings (with Vikas Agarwal, Yuehua Tang, and Baozhong Yang) [6] Hedge Funds in Chapter 11 (with Kai Li and Wei Wang)