Research
Published Papers
Lender Capital Adequacy and Financial Covenant Strictness (with E. Owens and M. Sokolowski). The Accounting Review 98(6): 149-172 (2023).
Do Borrowers Intentionally Avoid Covenant Violations? A Reexamination of the Debt Covenant Hypothesis (with A. Bordeman). Journal of Accounting Research 60(5): 1741-1774. (2022).
Assessing the Accuracy of Forward-Looking Information in Debt Contract Negotiations: Management Forecast Accuracy and Private Loans (with J. Donovan and J. Jennings). The Journal of Management Accounting Research 32(1): 79-102 (2020).
How Does Intentional Earnings Smoothing Vary with Managerial Ability? (with M. Lewis-Western and S. McVay). Journal of Accounting, Auditing, and Finance 35(2): 406-437 (2020).
Income Smoothing and the Usefulness of Earnings for Monitoring in Debt Contracting (with J. Donovan and M. Lewis-Western). Forthcoming at Contemporary Accounting Research 37(2): 857-884 (2020).
Uncertainty and Debt Covenants. Review of Accounting Studies 22: 1156-1197 (2017).
Fair Value Accounting and Debt Contracting: Evidence from Adoption of SFAS 159 (with J. Donovan and C. Larson). Journal of Accounting Research 54(4): 1041-1076 (2016).
Measuring the Probability of Financial Covenant Violation in Private Debt Contracts (with E. Owens). Journal of Accounting and Economics 61: 433-447 (2016).
Managerial Ability and Earnings Quality (with B. Lev, M. Lewis and S. McVay). The Accounting Review 88(2): 463-498 (2013).
Quantifying Managerial Ability: A New Measure and Validity Tests (with B. Lev and S. McVay). Management Science 58(7): 1229-1248 (2012).
Accounting Standards and Debt Covenants: Has the “Balance Sheet Approach” Led to a Decline in the Use of Balance Sheet Covenants? Journal of Accounting and Economics 52: 178-202 (2011).
Non-Refereed Published Papers
Measuring Managerial Ability: A Retrospective and Review of the Literature (with B. Lev). DEA Journal 5: 1-25 (2021).
How Do Lenders Monitor? A Discussion of Shan, Tang, and Winton (2019). Journal of Accounting and Economics 68(2-3). (2019).
Working Papers (Please contact me if you would like a current copy)
Inside Debt and Agency Conflicts: Evidence from the Financial Crisis (with P. Patrick and F. Tice)
Consequences of Cov-Lite Loans (with E. Horne and K. Moon)
Measuring Disclosure Strategy: A Data Envelopment Analysis Approach (with S. Mookerjee and B. Schonberger)
Lender Syndicate Network and the Diffusion of Novel Debt Contract Provisions (with J. Donovan)
The Effect of the Balance Sheet Approach on the Usefulness of Accounting Information in Bank Regulation (with K. Ito and A. Shuto)
A Positive Theory of Information for Debt Contracting: Implications for Financial Reporting
Negative Consequences of Covenant Violations for Lenders (with J. Donovan and J. Jennings)
Public Disclosure around Confidentially-Marketed Public Offerings (with Y. Ertimur and B. Schonberger)
A New Frontier of Corporate Purpose: Measuring Firm Efficiency and Managerial Ability in Producing Environmental and Social Outcomes (with M. Martin and P. Patrick)
Picking Winners: Managerial Ability and Capital Allocation (with A. Benz, D. Hoang, and M. Ruckes)
Mandatory ESG Disclosure and Sustainable Lending (with R. Zhong)
How Does Credit Rating Quality Influence Loan Contract Design? (with M. Sokolowski and L. Zhou)
Financial Covenant Strictness and Information Quality: Implications for Loan Pricing and Covenant Strictness
Calculating Efficiency with Financial Accounting Data: Data Envelopment Analysis for Accounting Researchers
Lender Capital Adequacy and Financial Covenant Strictness (with E. Owens and M. Sokolowski). The Accounting Review 98(6): 149-172 (2023).
Do Borrowers Intentionally Avoid Covenant Violations? A Reexamination of the Debt Covenant Hypothesis (with A. Bordeman). Journal of Accounting Research 60(5): 1741-1774. (2022).
Assessing the Accuracy of Forward-Looking Information in Debt Contract Negotiations: Management Forecast Accuracy and Private Loans (with J. Donovan and J. Jennings). The Journal of Management Accounting Research 32(1): 79-102 (2020).
How Does Intentional Earnings Smoothing Vary with Managerial Ability? (with M. Lewis-Western and S. McVay). Journal of Accounting, Auditing, and Finance 35(2): 406-437 (2020).
Income Smoothing and the Usefulness of Earnings for Monitoring in Debt Contracting (with J. Donovan and M. Lewis-Western). Forthcoming at Contemporary Accounting Research 37(2): 857-884 (2020).
Uncertainty and Debt Covenants. Review of Accounting Studies 22: 1156-1197 (2017).
Fair Value Accounting and Debt Contracting: Evidence from Adoption of SFAS 159 (with J. Donovan and C. Larson). Journal of Accounting Research 54(4): 1041-1076 (2016).
Measuring the Probability of Financial Covenant Violation in Private Debt Contracts (with E. Owens). Journal of Accounting and Economics 61: 433-447 (2016).
Managerial Ability and Earnings Quality (with B. Lev, M. Lewis and S. McVay). The Accounting Review 88(2): 463-498 (2013).
Quantifying Managerial Ability: A New Measure and Validity Tests (with B. Lev and S. McVay). Management Science 58(7): 1229-1248 (2012).
Accounting Standards and Debt Covenants: Has the “Balance Sheet Approach” Led to a Decline in the Use of Balance Sheet Covenants? Journal of Accounting and Economics 52: 178-202 (2011).
Non-Refereed Published Papers
Measuring Managerial Ability: A Retrospective and Review of the Literature (with B. Lev). DEA Journal 5: 1-25 (2021).
How Do Lenders Monitor? A Discussion of Shan, Tang, and Winton (2019). Journal of Accounting and Economics 68(2-3). (2019).
Working Papers (Please contact me if you would like a current copy)
Inside Debt and Agency Conflicts: Evidence from the Financial Crisis (with P. Patrick and F. Tice)
Consequences of Cov-Lite Loans (with E. Horne and K. Moon)
Measuring Disclosure Strategy: A Data Envelopment Analysis Approach (with S. Mookerjee and B. Schonberger)
Lender Syndicate Network and the Diffusion of Novel Debt Contract Provisions (with J. Donovan)
The Effect of the Balance Sheet Approach on the Usefulness of Accounting Information in Bank Regulation (with K. Ito and A. Shuto)
A Positive Theory of Information for Debt Contracting: Implications for Financial Reporting
Negative Consequences of Covenant Violations for Lenders (with J. Donovan and J. Jennings)
Public Disclosure around Confidentially-Marketed Public Offerings (with Y. Ertimur and B. Schonberger)
A New Frontier of Corporate Purpose: Measuring Firm Efficiency and Managerial Ability in Producing Environmental and Social Outcomes (with M. Martin and P. Patrick)
Picking Winners: Managerial Ability and Capital Allocation (with A. Benz, D. Hoang, and M. Ruckes)
Mandatory ESG Disclosure and Sustainable Lending (with R. Zhong)
How Does Credit Rating Quality Influence Loan Contract Design? (with M. Sokolowski and L. Zhou)
Financial Covenant Strictness and Information Quality: Implications for Loan Pricing and Covenant Strictness
Calculating Efficiency with Financial Accounting Data: Data Envelopment Analysis for Accounting Researchers