Dept. of Finance
Studies continually rank the Department of Finance at the University of Illinois as among the world's most productive finance research units. The Department is also home to outstanding teachers who deliver high-quality, challenging courses. Practice and learning converge to give Illinois finance students an active, engaging educational experience - in our pioneering Master of Science in Finance program, our top-tier PhD program, and in our nationally-ranked undergraduate curriculum.
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(2016-07-08)This dissertation consists of three chapters on syndicated loan risk. Chapter 1. Determinants of Syndicated Loan Ratings Theory suggests that covenants and collateral reduce credit risk for syndicated loans, resulting ...
(2016-07-11)My first essay, Domestic, Nonfinancial Commercial Paper after 2000, examines why the commercial paper (CP) outstanding of domestic nonfinancial firms plunge in early 2000's and never recover. By looking at the past 21 years ...
(2015-07-17)The first essay shows that political capital is an important determinant of corporate investment and innovation. Using the unexpected exits of legislators from the U.S. Congress as exogenous shocks to politically connected ...
(1999)Essay three: Nonparametric estimation of multifactor diffusion processes and its applications to Heath-Jarrow-Morton interest rate models . This essay develops a nonparametric estimation framework for multifactor diffusion ...
Essay 1. Accrual Effect in Stock Returns: Earnings Management or Sluggish Market Reactions? Essay 2. The Accrual Effect on Future Earnings (2000)In the second essay, I examine the accrual effect on future earnings and measure the potential economic consequence of earnings management. I find that the aggregate future earnings, on average, will be impaired by $0.20 ...