Text Box: Ongoing Projects:

[1]     To Exit or Not to Exit: Why Do Some Firms Continue Excessively?

          (with V. Aivazian and A. Priyo)

[2]    Bank Regulation and Asset Quality

         (with V. Aivazian and C. Serrano)

[3]     Managerial Actions Around Financial Distress

          (with T. Astebro and J. Winter)

[4]    Dynamics of Financial Innovation: The Case of Pre-Packaged Bankruptcy

         (with S. Zhou)





Saint Mary’s University, Halifax, Nova Scotia, Canada B3H 3C3

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Text Box: Research


[1] Excessive Continuation and the Costs of Flexibility in Financial Distress

         (joint with S. Davydenko)    WFA 2009  [Full Text]

[2]   The Real Effects of Credit Contractions: A Firm-Level Analysis

          (joint with V. Aivazian and L. Sun)  FMA 2011 [Full Text]

          FMA 2011 (Denver) Best Paper in Corporate Finance

[3]   Supply-chain Flexibility and the Cost of Debt: Evidence from Uncertainty Shocks

         (joint with P.R. Rau and A. Zaman)  NFA 2012, FMA 2014 [Full Text]

[4]   Are Conglomerates More Resilient to Economic Shocks?

         (joint with V. Aivazian and S. Zhou)  FMA 2014 [Full Text]

[5]   Do Financial Regulations Matter for Firm Performance?  Evidence from Systemic Banking Crises

          (joint with V. Aivazian and D. Ding)  FMA 2012, NFA 2013 [Full Text]

[6]    How Do CEOs Create Value for Their Firms?  

         (joint with V. Aivazian and T. Lai)   NFA 2010, FMA 2010  [Full Text]

[7]    Booms, Busts and the Market for Corporate Control

          (joint with D. Ding) NFA 2010, FMA 2011  [Full Text]

[8]    Bad Luck or Bad Policy: Why Do Firms Fail?

          CEA 2008, EFA 2010, FMA 2010 [Full Text]

[9]   Does Equity Market Stifle Private Credit Market?  FMA 2013 [Full Text]




[**]  Research related press-release: [NEWS] [NEWS] [NEWS]





Text Box: Published/Forthcoming Papers:
Text Box: Policy Papers and Selected Popular Press :

¨ Does Globalization Benefit the Poor in the Developing Countries? Winner of the Foreign  and Commonwealth Office (FCO), U.K., Economic Policy Paper Competition, 2003.

¨ Human Face of Development in East Asia: A Reconsideration of the Contemporary Intellectual Parameters, McGill Institute for the Study of Canada, McGill University, Canada, 2001.

¨ Dancing With the Devils, Daily Star special supplement on 26th March, 2007, the National Independence Day of Bangladesh.

¨ Does Islam Stifle Progress?, Editorial, The Daily Star, Vol. 5, Num 278, March 9, 2005 . This article was featured on the Asian News Net.

¨ Look East Policy: Strategic Imperative or Imbroglio?, Feature, The Daily Star, Vol. 5, Num 394, July 7,  2005.

¨ Civil Disobedience Versus Civil Disorder, Commentary, September 8, 2004, The Bangladesh Journal.

¨ The Price We Pay for the Crimes of the Rich, Feature, The Daily Star, Vol.5. Num. 213, December 29, 2004. This article was featured on various web sites including United National Environmental Program, Division of Technology, Industry and Economics.

¨ Useful Idiots and Loot-Seeking Predators: A Deadly Combination, Editorial, The Bangladesh Observer, December 30, 2004.

¨ The Paradox of Freedom, Feature, The Daily Star, January 23, 2003.

¨ Selling Our Souls, Feature, The Daily Star, vol. 3, No. 1161, December 14, 2002. This article was featured on various web sites as a reference on gas export of Bangladesh.

¨ Asian Values and a Timely Lesson for Bangladesh, Feature, The Daily Star, Volume3 Number 509, February 01, 2001.



Text Box: Text Box: Completed Working Papers:


[1]   Chinese Import Competition and the Provisions for External Debt Financing in the U.S.

          Journal of International Business Studies (lead article) 47 (2016), 898-928.


[2]   Bank Loan Contracting and Corporate Diversification: Does Organization Structure Matter to Lenders?

          Journal of Financial Intermediation 24 (2015), 252-282. (with V. Aivazian & J. Qiu)


[3]    Do Managerial Behaviors Trigger Firm Exit?  The Case of Hyperactive Bidders

          Quarterly Review of Economics & Finance 51 (2014), 92-110.


[4]   The Market for CEOs: An Empirical Analysis

          Journal of Economics & Business 67 (2013), 24-54.  (with V. Aivazian & T. Lai)  


[5]   Management Quality and the Cost of Debt: Does Management Matter t0 Lenders?

          Journal of Banking & Finance 37 (2013), 854-874. (with A. Zaman)


[6]    Access to Financing and Firm Growth

         Journal of Banking & Finance  35 (2011), 709-723 .