Richard Ivey Building 3349
- Corporate Finance
- Entrepreneurial Finance
- Healthcare and Finance
- To search for publications by a specific faculty member, select the database and then select the name from the Author drop down menu.
Joy Tong is an Assistant Professor in Finance at the Ivey Business School. See her personal website for more details.
- Finance (HBA1)
- Ph.D. in Finance, Duke University, Fuqua School of Business
- M.A. in Economics, Duke University
- B.S. in Mathematics and Economics, University of Toronto
Recent Refereed Articles
Ma, S.; Tong, J. T.; Wang, W., 2022, "Bankrupt Innovative Firms", Management Science, September 68(9): 6971 - 6992. Abstract:
We study how innovative firms manage their innovation portfolios after filing for Chapter 11 reorganization using three decades of data. We find that they sell off core (i.e., technologically critical and valuable), rather than peripheral, patents in bankruptcy. The selling pattern is driven almost entirely by firms with greater use of secured debt, and the mechanism is secured creditors exercising their control rights on collateralized patents. Creditor-driven patent sales in bankruptcy have implications for technology diffusion—the sold patents diffuse more slowly under new ownership and are more likely to be purchased by patent trolls.
This paper was accepted by Gustavo Manso, finance.
Link(s) to publication:
Work in Progress
- "Health Care Costs and Corporate Investment"
- "Advising Sophisticated Customers: Evidence from Health Insurance Brokers"