Chris Hennessy

London Business School

Sussex Place

Regent's Park

London, London NW1 4SA

United Kingdom

SCHOLARLY PAPERS

24

DOWNLOADS
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SSRN RANKINGS

Top 8,033

in Total Papers Downloads

7,242

SSRN CITATIONS
Rank 5,963

SSRN RANKINGS

Top 5,963

in Total Papers Citations

170

CROSSREF CITATIONS

56

Scholarly Papers (24)

1.

Can the Tradeoff Theory Explain Debt Structure?

AFA 2005 Philadelphia Meetings Paper
Number of pages: 52 Posted: 05 Jan 2005
Dirk Hackbarth, Chris Hennessy and Hayne E. Leland
Boston University - Department of Finance & Economics, London Business School and University of California, Berkeley - Walter A. Haas School of Business
Downloads 1,254 (20,186)
Citation 31

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Banking, Capital Structure, Priority Structure, and Contingent Claims Pricing

2.

Debt Dynamics

Number of pages: 62 Posted: 21 Jul 2003
Chris Hennessy and Toni M. Whited
London Business School and University of Michigan, Stephen M. Ross School of Business
Downloads 1,181 (22,120)
Citation 93

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Capital structure, taxes, dynamic model, indirect inference

3.

The Optimal Mix of Bank and Market Debt: An Asset Pricing Approach

Number of pages: 54 Posted: 23 Mar 2003
Dirk Hackbarth, Chris Hennessy and Hayne E. Leland
Boston University - Department of Finance & Economics, London Business School and University of California, Berkeley - Walter A. Haas School of Business
Downloads 945 (30,500)
Citation 3

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Banking, Capital Structure, Priority, Contingent Claims Pricing

4.

Analyzing Callable and Convertible Bonds When the Modigliani-Miller Assumptions are Violated

EFA 2005 Moscow Meetings Paper
Number of pages: 53 Posted: 04 Mar 2005
Chris Hennessy and Yuri Tserlukevich
London Business School and Arizona State University (ASU)
Downloads 759 (41,277)
Citation 3

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Capital structure, convertible bonds, callable bonds

5.

A Unified Model of Distorted Investment: Theory and Evidence

Number of pages: 58 Posted: 17 Oct 2002
Chris Hennessy and Amnon Levy
London Business School and Moody's KMV
Downloads 397 (93,039)
Citation 14

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6.

Dynamic Hedging Incentives, Debt, and Warrants

Number of pages: 34 Posted: 03 Aug 2004
Chris Hennessy and Yuri Tserlukevich
London Business School and Arizona State University (ASU)
Downloads 396 (93,336)
Citation 3

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Capital Structure, Debt, Warrant, Asset Substitution

7.

Skin in the Game and Moral Hazard

Journal of Finance, Forthcoming
Number of pages: 59 Posted: 18 Aug 2011 Last Revised: 11 Jun 2013
Gilles Chemla and Chris Hennessy
Imperial College Business School and London Business School
Downloads 344 (109,513)
Citation 26

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securitization, skin in the game, risk-sharing, moral hazard

Beyond Random Assignment: Credible Inference of Causal Effects in Dynamic Economies

Stanford University Graduate School of Business Research Paper No. 15-19
Number of pages: 46 Posted: 15 Feb 2015 Last Revised: 11 Nov 2015
Chris Hennessy and Ilya A. Strebulaev
London Business School and Stanford University - Graduate School of Business
Downloads 304 (124,495)
Citation 5

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Natural experiments; Policy evaluations; Dynamic environments; Random treatment; Causal effects

Beyond Random Assignment: Credible Inference of Causal Effects in Dynamic Economies

NBER Working Paper No. w20978
Number of pages: 47 Posted: 02 Mar 2015 Last Revised: 28 Apr 2021
Chris Hennessy and Ilya A. Strebulaev
London Business School and Stanford University - Graduate School of Business
Downloads 26 (613,433)
Citation 3

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Natural Experiment Policy Evaluation: A Critique

CEPR Discussion Paper No. DP10455
Number of pages: 54 Posted: 02 Mar 2015
Chris Hennessy and Ilya A. Strebulaev
London Business School and Stanford University - Graduate School of Business
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causal effects, dynamic environments, natural experiments, policy evaluations, random treatment

9.

Beyond Investment-Cash Flow Sensitivities: Using Indirect Inference to Estimate Costs of External Funds

EFA 2005 Moscow Meetings Paper
Number of pages: 44 Posted: 02 Mar 2005
Chris Hennessy and Toni M. Whited
London Business School and University of Michigan, Stephen M. Ross School of Business
Downloads 326 (116,173)
Citation 1

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Investment, indirect inference, finance constraints

10.

Acquisition Values and Optimal Financial (In)Flexibility

EFA 2008 Athens Meetings Paper
Number of pages: 62 Posted: 03 Mar 2008 Last Revised: 20 Feb 2015
Ulrich Hege and Chris Hennessy
Toulouse School of Economics and London Business School
Downloads 283 (135,046)
Citation 4

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Acquisitions, Mergers, Entry, Financial Contracting, Capital Structure, Event-Risk Covenants

11.

Secondary Market Liquidity and Security Design: Theory and Evidence from ABS Markets

Number of pages: 40 Posted: 25 Aug 2015
Nils Friewald, Chris Hennessy and Rainer Jankowitsch
Norwegian School of Economics (NHH), London Business School and WU (Vienna University of Economics and Business)
Downloads 188 (200,086)
Citation 5

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12.
Downloads 184 (203,923)
Citation 2

Government as Borrower of First Resort

Number of pages: 41 Posted: 06 Oct 2010 Last Revised: 16 Oct 2016
Gilles Chemla and Chris Hennessy
Imperial College Business School and London Business School
Downloads 184 (203,884)

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safe assets, high-yield debt, speculator, uninformed investors, information, overheated debt markets

Government as Borrower of First Resort

CEPR Discussion Paper No. DP11362
Number of pages: 44 Posted: 07 Jul 2016
Gilles Chemla and Chris Hennessy
Imperial College Business School and London Business School
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asymmetric information, corporate debt markets, governmet debt, issuers, speculators, uninformed investors

13.

Empirical Analysis of Corporate Tax Reforms: What is the Null and Where Did it Come from?

Stanford University Graduate School of Business Research Paper No. 18-14
Number of pages: 77 Posted: 14 Mar 2018
Chris Hennessy, Akitada Kasahara and Ilya A. Strebulaev
London Business School, Osaka University and Stanford University - Graduate School of Business
Downloads 179 (208,890)
Citation 1

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Corporate finance, tax reforms, tax regimes, empirical tests, difference-in-differences estimation

14.

The Effect of Leverage on Implicit Incentive Contracts

6th Annual Texas Finance Festival
Number of pages: 26 Posted: 31 Aug 2004
Chris Hennessy
London Business School
Downloads 139 (257,842)

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15.

Goodhart's Law and Machine Learning: A Structural Perspective

Number of pages: 32 Posted: 23 Jul 2020 Last Revised: 03 May 2021
Chris Hennessy and Charles Goodhart
London Business School and London School of Economics & Political Science (LSE) - Financial Markets Group
Downloads 112 (302,295)
Citation 1

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Machine Learning, Goodhart's Law, Structural Models

16.

Liquidity and Feasible Debt Relief

EFA 2009 Bergen Meetings Paper
Number of pages: 45 Posted: 20 Feb 2009
Josef Zechner and Chris Hennessy
Vienna University of Economics and Business and London Business School
Downloads 109 (308,104)

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Liquidity, Debt, Restructuring

17.

Rational Expectations and the Paradox of Policy-Relevant Natural Experiments

Number of pages: 41 Posted: 13 Nov 2015 Last Revised: 15 Apr 2020
Gilles Chemla and Chris Hennessy
Imperial College Business School and London Business School
Downloads 107 (312,065)
Citation 11

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natural experiments, random assignment, econometrician, policy, endogeneity after-the-fact

Subject Rational Expectations Will Contaminate Randomized Controlled Medical Trials

CEPR Discussion Paper No. DP11360
Number of pages: 27 Posted: 07 Jul 2016 Last Revised: 11 Dec 2017
Gilles Chemla and Chris Hennessy
Imperial College Business School and London Business School
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Bias, Rational Expectations, RCTs

19.
Downloads 0 (538,940)

Equilibrium Counterfactuals

CEPR Discussion Paper No. DP14146
Number of pages: 50 Posted: 04 Dec 2019
Gilles Chemla and Chris Hennessy
Imperial College Business School and London Business School
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20.

Security Design: Signaling Versus Speculative Markets

CEPR Discussion Paper No. DP8336
Number of pages: 60 Posted: 18 Apr 2011
Gilles Chemla and Chris Hennessy
Imperial College Business School and London Business School
Downloads 5 (751,314)
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issuer, pooling, security design, separating, speculator, type

21.

Privately Versus Publicly Optimal Skin in the Game: Optimal Mechanism and Security Design

CEPR Discussion Paper No. DP8403
Number of pages: 52 Posted: 26 May 2011
Gilles Chemla and Chris Hennessy
Imperial College Business School and London Business School
Downloads 2 (776,426)
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adverse selection, originate to distribute, screening incentives, securitization, skin in the game, speculator, uninformed investors

22.

Signaling, Random Assignment, and Causal Effect Estimation

CEPR Discussion Paper No. DP15175
Number of pages: 34 Posted: 12 Sep 2020
Gilles Chemla and Chris Hennessy
Imperial College Business School and London Business School
Downloads 1 (787,963)
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Causal effect, CEO, Corporate Finance, Government Policy, household finance, investment, random assignment, selection, signal

23.

The Paradox of Policy-Relevant Natural Experiments

CEPR Discussion Paper No. DP11361
Number of pages: 43 Posted: 07 Jul 2016 Last Revised: 11 Dec 2017
Gilles Chemla and Chris Hennessy
Imperial College Business School and London Business School
Downloads 0 (805,018)
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firms, government, investment, natural policy experiments, pollution, randomized controlled trials

24.

Taxation, Agency Conflicts, and the Choice between Callable and Convertible Debt

Journal of Economic Theory, Forthcoming
Posted: 24 Jan 2012
Chris Hennessy and Yuri Tserlukevich
London Business School and Arizona State University (ASU)

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