In a series of three related essays, my dissertation examines several unresolved issues in the corporate finance literature relating to the firm’s use of share repurchases. These include the mitigating effects of creditor-manager alignment on incr...
The dissertation consists of three essays. The first essay examines how a tournament among CEOs to progress within the CEO labor market changes their tendency toward corporate hedging policies. We exploit the textual analysis of 10-Ks to generate ...
The first paper ("Human Capital and Investment Policy") investigates the interaction between investment policies and human capital cost. Employees may demand a higher pay to compensate for the potential job loss due to their firm's high investment...
In the first chapter titled "CEOs’ Capital Gains Tax Liabilities and Accounting Conservatism", I study whether CEOs’ tax liability affect conservative accounting policy. Recent studies show that the tax-induced lock-in effect discourages CEOs’ to ...
This dissertation contains three chapters. In the first chapter, we empirically examine how diversification influences the relation between corporate governance and capital structure. We find better corporate governance in focused firms increases ...
