Research

Published Articles

Are Enhanced Creditor Rights in Bankruptcy Desirable to Shareholders? Evidence from the Cost of Equity Capital

Published in Journal of Banking & Finance, Volume 175, Article 107442, 2025

Enhanced creditor rights in bankruptcy can improve shareholder value by increasing borrowing capacity, reducing the cost of equity capital, and lowering information asymmetry and firm risk.

Recommended citation: Xiaoran Ni, Jin Xu, and David Yin. (2025). "Are Enhanced Creditor Rights in Bankruptcy Desirable to Shareholders? Evidence from the Cost of Equity Capital." Journal of Banking & Finance, 175, 107442.
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Working Papers

Classified Board and Workplace Safety

Working paper. Presented at FMA European 2024.

This study examines whether classified boards facilitate long-term investment in employee well-being by reducing workplace injury rates.

Recommended citation: Jin Xu, Xiaoran Ni, and David Yin. "Classified Board and Workplace Safety." Working paper.

CEO Rugged Individualism and Workplace Safety

Working paper. Presented at IAAE 2024, AsianFA 2024, GCFC 2024, and FMA Annual 2024.

Using establishment-level panel data, this project studies whether CEOs shaped by a culture of rugged individualism make different workplace safety decisions.

Recommended citation: Lee Biggerstaff, Jin Xu, Xiaoran Ni, and David Yin. "CEO Rugged Individualism and Workplace Safety." Working paper.