Hayne E. Leland

Arno Rayner Professor Emeritus of Finance and Management
PhD, Economics
Harvard

Research:

• Structural Modeling of Credit Risk
• Dynamic Models of Optimal Leverage and Agency Costs
• Optimal Investment Strategies in the Presence of Transactions Costs
• Performance Measurement: Beyond Mean-Variance Analysis

Publication Highlights:

• "On Purely Financial Synergies and the Optimal Scope of the Firm: Implications for Mergers, Spinoffs, and Structured Finance," April 2007 Journal of Finance
• "The Optimal Mix of Bank and Bond Market Debt: An Asset Pricing Approach," with D. Hackbarth and C. Hennessy, September 2007 Review of Financial Studies
• "Predictions of Default Probabilities in Structural Models of Debt," April 2004, Journal of Investment Management

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