GMAC has struggled as the deteriorating auto and housing markets caused financing volume to decline and credit losses to increase.
12. "The Illiquidity of Corporate Bonds" (with Jack Bao and Jiang Wang), Journal of Finance, volume 66, pages 911--946, 2011.
13. "Noise as Information for Illiquidity" (with Xing Hu and Jiang Wang), Journal of Finance, volume 68, pages 2223-2772, 2013.
S. Kaplan and M. Weisbach, "The Success of Acquistions: Evidence from Divestitures," Journal of Finance, volume 47, 1992, pp. 107 138.
Year over year, mortgage financing volume for hotels fell, as interest rates on Class A and Class B and C hotel deals have risen.
P. Asquith and E.H. Kim, "The Impact of Merger Bids on Participating Firms' Security Holders," Journal of Finance, volume 37, 1982, pp. 1209 1228.
10. "Default and Recovery Implicit in the Term Structure of Sovereign CDS Spreads" (with Kenneth Singleton), Journal of Finance, volume 63, pages 2345--2384, 2008.
9. "Volatility Information Trading in the Option Market" (With Sophie Ni and Allen Poteshman), Journal of Finance, volume 63, pages 1059--1091, 2008.
6. "Dynamic Derivative Strategies" (with Jun Liu), Journal of Financial Economics, volume 69, pages 401--430, 2003. 5. "Dynamic Asset Allocation with Event Risk" (with Jun Liu and Francis Longstaff), Journal of Finance, volume 58, pages 231--259, 2003.
Resulting trade-offs between financing volume, interest payments and tax shield are captured.
