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Gordon Phillips
James McN. Stancill Chair in Business Administration & Professor of Finance and Business Economics

USC Marshall School of Business
Los Angeles, CA 90089-0808

Phone: 
213-740-0598
gordon.phillips@marshall.usc.edu
Education: 
PhD, MA, Harvard University; BA, Northwestern University
Personal Website: 
http://www-bcf.usc.edu/~gordonph/

Overview

Gordon Phillips specializes in mergers, firm organization, security issuance, and the impact of financial decisions on firms' strategic decisions. He is a research associate at the National Bureau of Economic Research, is an associate editor at multiple finance journals, and has received multiple research grants from the National Science Foundation. Professor Phillips' presentations include a keynote address on PIPEs (private investment in public equity) to an audience of executives and finance professionals. Prior to joining USC, he was Bank of America professor at the University of Maryland. He also has been a visiting professor at Insead, MIT and Duke University.

Research

Product Market Threats, Payouts, and Financial Flexibility • 2013
Public and Private Merger Waves • 2013
How Do Firm Financial Conditions Affect Product Quality and Pricing? • 2013
R&D and the Incentives from Merger and Acquisition Activity • 2013
Product Market Synergies and Competition in Mergers and Acquistions: A Text-Based Analysis • 2013
Asset Efficiency and Reallocation Decisions of Bankrupt Firms • 2012
Text-Based Network Industries and Endogenous Product Differentiation • 2012
Why do Public Firms Issue Private and Public Securities? • 2012
Industry Choice and Product Language • 2012
The Stock Market, Product Uniqueness, and Comovement of Peer Firms • 2012
Real Asset Illiquidty and the Cost of Capital • 2012
Conglomerate Industry Choice and Product Differentiation • 2012
Post-Merger Restructuring and the Boundaries of the Firm • 2011
Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis • 2010
Real and Financial Industry Booms and Busts • 2010
The Industry Life-Cycle, Acquisitions and Investment: Does Firm Organization Matter? • 2008
How Does Industry Affect Firm Financial Structure? • 2005
Growth, Capital Market Development and Competition for Resources within MNCs • 2004
Do Conglomerate Firms Allocate Resources Inefficiently Across Industries? Theory and Evidence • 2002
The Market for Corporate Assets: Who Engages in Mergers and Asset Sales and Are There Gains? • 2001
Corporate Equity Ownership, Strategic Alliances and Product Market Relationships • 2000
Asset Efficiency and the Reallocation Decisions of Bankrupt Firms. • 1998
Capital structure and product market behavior: an examination of plant exit and investment decisions • 1997
Capital Structure and Product Market Rivalry: How do We Reconcile the Theory and the Evidence • 1995
Increased Debt and Industry Product Markets: An Empirical Analysis • 1995
Trading Performance in Forward Markets: Information vs. Normal Backwardation • 1994
Options in Forward Contracts: Empirical Estimates from the Petroleum Market • 1990