Working Papers ''Inflexibility and Leverage,'' with L. Gu and Y. Luo. Accepted, Management Science. ''Maturity Overhang: Evidence from M&A,'' with Z. Chen, J. Harford and Y. Luo. See also ECGI Blog Rollover Risk, Not Maturity, Decides Which Deals Happen. ''Debt Dynamics and Default Probabilities,'' with S. Bartram, P. Feldhuetter and Y. Kitapbayev. ''Capital Structure and ESG Heterogeneity,'' with Y. Luo. ''Investment-Based Trade-Off Theory,'' with A. Stahmer. ''Does Transparency Increase Takeover Vulnerability?'' with L. Gu. See also Harvard Law School Forum on Corporate Governance and Financial Regulation. ''Optimal Capital and Maturity Structure,'' with H. Leland.