We provide the first systematic evidence of contractual innovation in the terms of poison pill
plans. In response to the increase in hedge fund activism, pills have changed to include anti …

This paper analyzes the effect of staggered boards on firm value during market shocks,
adding to the ongoing debate regarding whether staggered boards are value-enhancing or …

This paper provides causal evidence of the effects of the M&A market on target firms'
corporate policies. Using antitrust regulatory thresholds to directly link the probability of a …

We create a new measure called director-specific quality (DSQ) that isolates director
attributes that are transferable across firms and time and show that DSQ accounts for a …

Non-executive directors associated with poison pill adoption experience a decrease in
shareholder votes, an increase in termination rates across all their directorships, and a …

Using novel measures of cybersecurity risk, we document that low cybersecurity risk firms
are more likely to be involved in M&A transactions. Mergers are significantly less likely to be …

We create a new measure called director-specific quality (DSQ) that captures the collection
of value-relevant transferable attributes unique to a director and explains 10% of the …

In this study, I examine factors associated with firm transparency of board oversight using the
setting of cybersecurity risk. The SEC requires that, to the extent cybersecurity risks are …

My dissertation consists of three independent essays, each examining a different topic in
corporate finance. In the first essay, I argue that CEO performance payment must vary with …