David C. Smith Curriculum vitae
C. Coleman McGehee Research Associate Professor of Banking and Commerce
Director, McIntire Center for Financial Innovation
Office phone: 434-243-2272
Err-mail: dcs8f@virginia.edu
Education:
Ph.D., Finance, Indiana University, Bloomington (1993). B.S., Economics, University of Delaware (1988).
Areas of Expertise:
Corporate lending, bankruptcy and restructuring, corporate governance, banking.
Working Papers:
Creditor Control Rights, Corporate Governance, and Firm Value, with Greg Nini and Amir Sufi, July 2009.
The covenant violation data used for this project is available here.
Corporate Governance in a Free Contracting Environment, with Charlotte Østergaard, February 2009.
Why Do U.S. Cross Listings Matter?, with John Ammer, Sara Holland, and Frank Warnock, May 2008.
Current Research Activity
Private Equity Sponsors and the Resolution of Financial Distress, with Edie Hotchkiss and Per Strömberg.
The Trading of Debt Claims in Chapter 11, with Victoria Ivashina, Ben Iverson, and Per Strömberg.
Accounting Issues Identified in Loan Contracts – Implications for Standard Setters, with Ann Gamble, Craig Lefanowicz, and Roger Martin.
Refereed Journal Publications:
Creditor Control Rights and Firm Investment Policy, With Greg Nini and Amir Sufi, Journal of Financial Economics, June 2009, 400-420.
Log file is here. Stata dataset is here (Please read logfile first!). All 3,720 contracts are in a zipped file here.
On the Sequencing of Projects, Reputation Building, and Relationship Finance, with Dominik Egli and Steven Ongena, Finance Research Letters, March 2006, 23-39.
The Impact of Bank Consolidation on Commercial Borrower Welfare, with Jason Karceski and Steven Ongena, Journal of Finance, August 2005, 2043-2082.
Loans to Japanese Borrowers, Journal of the Japanese and International Economies, September 2003, 283-304.
To What Extent Will the Banking Industry be Globalized? A Study of Bank Nationality and Reach in 20 European Nations, with Allen Berger, Qinglei Dai and Steven Ongena, Journal of Banking and Finance, February 2003, 383-415.
Firms and Their Distressed Banks: Lessons from the Norwegian Banking Crisis (1988-1991), with Steven Ongena and Dag Michalsen, Journal of Financial Economics, January 2003, pp. 81-112.
The Duration of Bank Relationships, with Steven Ongena, Journal of Financial Economics, September 2001, pp. 449-475.
What Determines the Number of Bank Relationships? Cross-Country Evidence, with Steven Ongena, Journal of Financial Intermediation, January 2000, pp. 26-56.
Finite Sample Properties of Tests of the Epstein-Zin Asset Pricing Model, Journal of Econometrics, November 1999, pp. 113-148.
The Elasticity of Interest Rate Volatility - Chan, Karolyi, Longstaff and Sanders Revisited, with Robert Bliss, Journal of Risk, Fall 1998, pp. 21-46.
The Conditional Performance of Insider Trades, with B. Espen Eckbo, Journal of Finance, April 1998, pp. 467-498.
Other Publications:
Maximizing the Value of Distressed Assets: Bankruptcy Law and the Efficient Reorganization of Firms, with Per Strömberg, in Systemic Financial Distress: Containment and Resolution, Patrick Honohan and Luc Laeven editors, Cambridge University Press, 2005.
Global Integration in the Banking Industry, with Allen Berger, Federal Reserve Bulletin, November 2003, 451-460.
Are Banks Still Special? New Evidence on their Role in the Capital-Raising Process, with Christopher James, Journal of Applied Corporate Finance, Spring 2000, pp. 52-63.
Bank Relationships: A Review, with Steven Ongena, in The Performance of Financial Institutions, 2000, P. Harker and S.A. Zenios, editors, Cambridge University Press, pp. 221-258.
“Quality and Duration of Bank Relationships,” with Steven Ongena in Global Cash Management in Europe, D. F Birks, editor, MacMillan Press, 1998.