Research

Publications

 

"Geographic Differences in the Earnings of Economics Majors." The Journal of Economic Education 45.3 (2014): 262-276. with John V. Winters

 

Abstract: Economics has been shown to be a relatively high-earning college major, but geographic differences in earnings have been largely overlooked. The authors of this article use the American Community Survey to examine geographic differences in both absolute earnings and relative earnings for economics majors. They find that there are substantial geographic differences in both the absolute and relative earnings of economics majors, even when controlling for individual characteristics such as age, education, occupation, and industry. They argue that mean earnings in specific labor markets are a better measure of the benefits of majoring in economics than simply looking at national averages.

 

"Social Comparison and Wealth Inequality in a Leveraged Asset Market." Journal of Behavioral Finance (2020): 1-21

 

Abstract: We hypothesize that upward social comparison of asset holdings among traders exacerbates leveraged asset bubbles because traders shift their frame of reference from profit maximization toward quantity maximization, increasing price momentum. In addition, asset prices should inflate even more in markets with wealth inequality because the relative reference shift becomes stronger. We test this theory within the standard asset market experiment environment, where we introduce the ability to borrow using leverage and treatments encouraging social comparison and manipulation of wealth inequality. We find that social comparison leads to asset overpricing, and its impact is the greatest when combined with wealth inequality. On the other hand, wealth inequality alone does not lead to greater asset price bubbles. These findings are consistent with housing market patterns prior to the financial crisis.

Working Papers

 

“CEO Network Centrality and IPO Performance” with Dobrina Jandik and Tomas Jandik

 

“How Does Network Centrality Affect Board Structure and Corporate Governance?”

 

"Personal Connections, Financial Advisors, and M&A Outcomes" with Dobrina Jandik and Tomas Jandik

Academic
Presentations
  • Financial Management Association 2020 Annual Meeting, Oct 2020, New York, NY

  • Eastern Finance Association 2019 Annual Meeting, Apr 2019, Miami,FL

  • Financial Management Association 2018 Annual Meeting, Oct 2018, San Diego, CA

  • Eastern Finance Association 2017 Annual Meeting, Apr 2017 in Jacksonville, FL

  • Southwest Finance Association 2017 Annual Meeting, Mar 2017 in Little Rock, AR

  • Midwest Finance Association 2017 Annual Meeting, Mar 2017 in Chicago, IL

  • 5th Annual CIRANO-Sam M. Walton College of Business Workshop on Networks in Trade and Finance, Sep 2016 in Fayetteville, AR

 

Conference Services
  • Discussant, Eastern Finance Association 2019 Annual Meeting (Miami, FL)

  • Discussant, Eastern Finance Association 2017 Annual Meeting (Jacksonville, FL)

  • Session Chair, Southwest Finance Association 2017 Annual Meeting (Little Rock, AR)

  • Discussant, Southwest Finance Association 2017 Annual Meeting (Little Rock, AR)

  • Discussant, Midwest Finance Association 2017 Annual Meeting (Chicago, IL)