This paper compares patterns of hiring and separations in regulated and unregulated labor markets over the last two decades in Brazil, with an eye toward gauging the effects of employment protection on employment adjustment over the business cycle. Since the difference between the sectors is...

In this dissertation, I study three resource allocation problems. In the first study, I present joint work with Yan Chen, Thomas Finholt, and Kan Takeuchi on a laboratory study evaluating three different package auction mechanisms for allocating access to large scientific equipments. I found...

This study investigates why externally advised real estate investment trusts (REITs) underperform their internally managed counterparts. Consistent with previous studies, we find that REITs managed by external advisors underperform internally managed ones by over 7 percent per year....

Prior research has identified the manner in which human capital, social capital, and other intangible resources create value for organizations. Among such resources, those contributed by a firm's top managers have been singled out as particularly important for the generation and preservation of...

Chapter 1 is a critique of a highly influential paper in corporate governance. Chhaochharia and Grinstein (2009) estimate that CEO pay decreases 17% more in firms that were not compliant with the recent NYSE/Nasdaq board independence requirement than in firms that were compliant. We document...