Regulatory Costs of Being Public: Evidence from Bunching Estimation
Conditionally accepted, Journal of Financial Economics, Oct. 2023
with Kairong Xiao and Ting Xu
[SocArXiv pdf][SSRN][Media: Blue Sky Blog] [Policy: IFRS 2023,  FINRA Regulatory Notice 23-11, SEC Small Business Report to Congress]

Founder-CEO Compensation and Selection into Venture Capital-Backed Entrepreneurship
Forthcoming, Journal of Finance,  Sept. 2023
with Ramana Nanda and Christopher Stanton)  [NBER WP]
[Media: Harvard Law School Forum

Measuring Intangible Capital with Market Prices
Conditionally accepted, Management Science, July 2023
with Ryan Peters and Sean Wang, [NBER WP]

Race and Gender in Entrepreneurial Finance
preparing for Handbook of the Economics of Corporate Finance: Volume 1, Private Equity

Private or public equity? The evolving entrepreneurial finance landscape
Annual Review of Financial Economics, Forthcoming 2022
with Joan Farre-Mensa
[NBER WP] [SocArXiv pdf][Paper Website/Appendix] [Media: Harvard Law School Forum, NBER Bulletin]

Venture Capital Contracts 
2022, Journal of Financial Economics,
with Alex Gorbenko and Arthur Korteweg  [May 2020] [NBER WP]

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

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

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

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

Managing Performance Signals Through Delay: Evidence from Venture Capital 
Management Science, 2017
with Indraneel Chakraborty [pdf]

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

Statistical Discrimination or Prejudice? A Large Sample Field Experiment 
Review of Economics and Statistics, 2014
with Choon Wang and Bryan Tomlin [pdf] [replication data]

The Price of Diversifiable Risk in Venture Capital and Private Equity 
Review of Financial Studies, 2013
with Charles Jones and Matthew Rhodes-Kropf  [pdf]

Working Papers

Local Journalism Under Private Equity Ownership
with Arpit Gupta and Sabrina Howell, April 2023 [NBER WP] [Media: Business Scholarship Podcast]

Venture Capital and Startup Agglomeration
Revise & resubmit, Journal of Finance
with Jun Chen, April 2023 [pdf]

Board Dynamics over the Startup Life Cycle 
Revise & resubmit, Journal of Finance, January 2022
with Nadya Malenko [Appendix][NBER WP][SSRN][Media: VoxEU]

Insider Financing and Venture Capital Returns 
with Matthew Rhodes-Kropf and Ilya Strebulaev, October 2016