Professor of Finance Matthew Billett

• Professor of Finance
• Richard E. Jacobs Chair in Finance

Academic Degrees

• PhD, University of Florida, 1993
• BA, Colgate University, 1989

Selected Publications

• Billett, Matthew T., R. Elkamhi, L. Popov, and R.S. Pungaliya (2016), "Bank Skin in the Game and Loan Contract Design: Evidence from Covenant-Lite Loans," Journal ofFinancial and Quantitative Analysis, 51(3): 839-873.
  

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• Billett, Matthew T., Zhan Jiang and Lopo L. Rego (2014), “Glamour Brands and Glamour Stocks,” Journal of Economic Behavior & Organization, Volume 107, Part B (November), Pages 744–759.
• Billett, Matthew T., Jon A. Garfinkel, and Yi Jiang (2011), "The Influence of Governance on Investment: Evidence from a Hazard Model," Journal of Financial Economics, Vol. 102, No. 3, pp. 643-670.
• Billett, Matthew T., Mark J. Flannery, and Jon A. Garfinkel (2011), "Frequent Issuers’ Influence on Long-Run Post-Issuance Returns," Journal of Financial Economics. Vol. 99, No. 2, pp. 349-364
• Billett, Matthew T., Zhan Jiang, and Erik Lie (2010), "The Effect of Change-in-Control Covenants on Takeovers: Evidence from Leveraged Buyouts," Journal of Corporate Finance, Vol. 16, No. 1, pp. 1-15.
• Billett, Matthew T., David C. Mauer, and Yilei Zhang (2010), "Stockholder and Bondholder Wealth Effects of CEO Incentive Grants," Financial Management, Vol. 39, No. 2, pp. 463-487. 
• Rego, Lopo L., Matthew T. Billett and Neil A. Morgan (2009), "Customer-Based Brand Equity and Firm Risk," Journal of Marketing, 73 (6), 47-60.

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• Billett, Matthew T. and Yiming Qian (2008), "Are Overconfident CEOs Born or Made? Evidence of Self-Attribution Bias from Frequent Acquirers," Management Science, Vol. 54, No. 6, pp. 1037-1051. 
• Billett, Matthew T. and Hui Xue (2007), "Share Repurchases and the Need for External Finance," Journal of Applied Corporate Finance, Vol. 19, No. 3, pp. 42–55.
• Billett, Matthew T., Dolly King, and David Mauer (2007), "Growth Opportunities and the Choice of Leverage, Debt Maturity, and Covenants," Journal of Finance, Vol. 62, No. 2, pp. 697-730.
• Billett, Matthew T. and Hui Xue (2007), "The Takeover Deterrent Effect of Open Market Share Repurchases," Journal of Finance, Vol. 62, No. 4, pp. 1827-1850.
• Billett, Matthew T., Mark Flannery, and Jon Garfinkel (2006), "Are Bank Loans Special? Evidence from the Post-Announcement Performance of Bank Borrowers," Journal of Financial and Quantitative Analysis, Vol. 41, pp. 733-751. 
• Billett, Matthew T. and Anand Vijh (2004), "The Wealth Effects of Tracking Stock Restructurings," Journal of Financial Research, Vol. 27, No. 4, pp. 559-583.
• Billett, Matthew T., Dolly King, and David C. Mauer (2004), "Bondholder Wealth Effects in Mergers and Acquisitions: New Evidence from the 1980s and 1990s," Journal of Finance, Vol. 59, No. 1, pp. 107-135.
• Billett, Matthew T. and Jon A. Garfinkel (2004), "Financial Flexibility and the Cost of External Finance for U.S. Bank Holding Companies," Journal of Money, Credit and Banking, Vol. 36, No. 5, pp. 827-852.
• Billett, Matthew T. and David C. Mauer (2003), "Cross Subsidies, External Financing Constraints, and the Contribution of the Internal Capital Market to Firm Value," Review of Financial Studies, Vol. 16, No. 4, pp. 1167-1201.
• Billett, Matthew T. and David C. Mauer (2000), "Diversification and the Value of Internal Capital Markets: The Case of Tracking Stock," Journal of Banking and Finance, Vol. 24, No. 9, pp. 1457-1490.  
• Billett, Matthew T., Jon A. Garfinkel, and Edward S. O’Neal (1998), "The Cost of Market versus Regulatory Discipline in Banking," Journal of Financial Economics, Vol. 48, No. 3, pp. 245-282.  Reprinted in: Maximilian J.B. Hall (ed.) (2002), The Regulation and Supervision of Banks, Cheltenham, UK: Edward Elgar.
• Billett, Matthew T. and Michael D. Ryngaert (1997), "Capital Structure, Asset Structure and Equity Takeover Premiums in Cash Tender Offers," Journal of Corporate Finance, Vol. 3, No. 2, pp. 141-165.
• Billett, Matthew T. (1996), "Targeting Capital Structure: The Relationship Between Risky Debt and the Firm’s Likelihood of Being Acquired," Journal of Business, Vol. 69, No. 2, pp. 173-192.
• Billett, Matthew T., Mark  J. Flannery, and Jon A. Garfinkel (1995), "The Effect of Lender Identity on a Borrowing Firm’s Equity Return," Journal of Finance, Vol. 50, No. 2, pp. 699-718.