Assistant Professor of Economics Abigail Hornstein recently has had two academic papers published. In September 2012, her paper, “Usage of an estimated coefficient as a dependent variable,” co-authored with William Greene of New York University’s Stern School of Business, was published in the journal Economics Letters. The paper demonstrated the efficiency gains of a particular set of empirical estimation techniques. It is available online here.
In addition, Hornstein’s solo-authored paper, titled, “Corporate capital budgeting and CEO turnover,” was published in December 2012 in the Journal of Corporate Finance. In this paper, she demonstrated the considerable cross-sectional and inter-temporal variation in the quality of a firm’s corporate capital budgeting decisions, and how this is systematically affected by the nature of CEO turnover. It can be read here. Hornstein presented this paper at the Eastern Finance Association annual meeting in Boston in April, at a seminar at Clark University in October, and at the Financial Management Association annual meeting in Atlanta in October. Saumya Chatrath ’13 worked as a research assistant on this project in the summer of 2011 under the auspices of the Quantitative Analysis Center’s summer program.