Murillo Campello

Cornell University

Lewis H. Durland Professor of Finance

114 East Avenue

369 Sage Hall

Ithaca, NY 14853

United States

http://www.johnson.cornell.edu/Faculty-And-Research/Profile.aspx?id=mnc35

National Bureau of Economic Research (NBER)

Research Associate

1050 Massachusetts Avenue

Cambridge, MA 02138

SCHOLARLY PAPERS

48

DOWNLOADS
Rank 362

SSRN RANKINGS

Top 362

in Total Papers Downloads

37,432

CITATIONS
Rank 343

SSRN RANKINGS

Top 343

in Total Papers Citations

1,229

Scholarly Papers (48)

The Real Effects of Financial Constraints: Evidence from a Financial Crisis

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 38 Posted: 22 Dec 2008 Last Revised: 26 Dec 2009
Murillo Campello, John R. Graham and Campbell R. Harvey
Cornell University, Duke University and Duke University - Fuqua School of Business
Downloads 3,209 (2,252)
Citation 130

Abstract:

Financial crisis, financing constraints, investment spending, liquidity management, matching estimators

The Real Effects of Financial Constraints: Evidence from a Financial Crisis

AFA 2010 Atlanta Meetings Paper
Number of pages: 51 Posted: 11 Mar 2009
Murillo Campello, John R. Graham and Campbell R. Harvey
Cornell University, Duke University and Duke University - Fuqua School of Business
Downloads 535 (39,204)
Citation 130

Abstract:

Financial crisis, financing constraints, investment spending, liquidity management, matching estimators

The Real Effects of Financial Constraints: Evidence from a Financial Crisis

NBER Working Paper No. w15552
Number of pages: 38 Posted: 08 Dec 2009
Murillo Campello, John R. Graham and Campbell R. Harvey
Cornell University, Duke University and Duke University - Fuqua School of Business
Downloads 47 (330,133)
Citation 130

Abstract:

2.
Downloads 2,524 ( 3,534)
Citation 283

The Cash Flow Sensitivity of Cash

Number of pages: 34 Posted: 23 May 2003
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University and Ohio State University (OSU) - Department of Finance
Downloads 2,524 (3,449)
Citation 283

Abstract:

Cash flow sensitivity of cash, financial constraints, cash policy, macroeconomic innovations

The Cash Flow Sensitivity of Cash

AFA 2004 San Diego Meetings
Posted: 24 Jul 2003
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University and Ohio State University (OSU) - Department of Finance

Abstract:

Cash flow sensitivity of cash, financial constraints, cash policy, macroeconomic innovations

Liquidity Management and Corporate Investment During a Financial Crisis

Number of pages: 48 Posted: 07 Aug 2009 Last Revised: 21 Nov 2010
Cornell University, Syracuse University - Whitman School of Management - Finance Department; James D. Kuhn Center for Real Estate, Duke University and Duke University - Fuqua School of Business
Downloads 1,964 (5,312)
Citation 64

Abstract:

Financial crisis, liquidity management, investment spending, credit lines, drawdown activity, cash savings

Liquidity Management and Corporate Investment During a Financial Crisis

NBER Working Paper No. w16309
Number of pages: 45 Posted: 30 Aug 2010
Cornell University, Syracuse University - Whitman School of Management - Finance Department; James D. Kuhn Center for Real Estate, Duke University and Duke University - Fuqua School of Business
Downloads 83 (243,757)
Citation 64

Abstract:

4.

Financial Constraints and Investment-Cash Flow Sensitivities: New Research Directions

Twelfth Annual Utah Winter Finance Conference
Number of pages: 26 Posted: 29 Jan 2002
Heitor Almeida and Murillo Campello
University of Illinois at Urbana-Champaign and Cornell University
Downloads 1,910 (4,980)
Citation 15

Abstract:

investment, cash-flow, investment-cash flow sensitivities, financial constraints, credit rationing

Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies

London Business School IFA Working Paper Series
Number of pages: 50 Posted: 19 Jan 2005
Heitor Almeida, Viral V. Acharya and Murillo Campello
University of Illinois at Urbana-Champaign, New York University - Leonard N. Stern School of Business and Cornell University
Downloads 1,494 (8,507)
Citation 96

Abstract:

Risk management, financing frictions, investment, cash savings, debt capacity

Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies

NBER Working Paper No. w11391
Number of pages: 55 Posted: 06 Jul 2005
Viral V. Acharya, Heitor Almeida and Murillo Campello
New York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Cornell University
Downloads 55 (306,575)
Citation 96

Abstract:

Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies

CEPR Discussion Paper No. 4886
Number of pages: 52 Posted: 26 May 2005
Viral V. Acharya, Heitor Almeida and Murillo Campello
New York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Cornell University
Downloads 21 (438,681)
Citation 96
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Abstract:

Cash holdings, debt policies, hedging, financing constraints, risk management

Is Cash Negative Debt? A Hedging Perspective on Corporate Financial Policies

Journal of Financial Intermediation, Forthcoming
Posted: 30 Apr 2007
Viral V. Acharya, Heitor Almeida and Murillo Campello
New York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Cornell University

Abstract:

Risk management, financing frictions, investment, cash policy, debt capacity

Financial Constraints, Asset Tangibility, and Corporate Investment

AFA 2005 Philadelphia Meetings, Forthcoming
Number of pages: 45 Posted: 31 Aug 2004
Heitor Almeida and Murillo Campello
University of Illinois at Urbana-Champaign and Cornell University
Downloads 1,403 (9,448)
Citation 124

Abstract:

Investment-cash flow sensitivities, asset tangibility, financial constraints, credit multiplier, errors-in-variables, GMM

Financial Constraints, Asset Tangibility, and Corporate Investment

NBER Working Paper No. w12087
Number of pages: 37 Posted: 11 May 2006
Heitor Almeida and Murillo Campello
University of Illinois at Urbana-Champaign and Cornell University
Downloads 56 (303,912)
Citation 124

Abstract:

Financial Constraints, Asset Tangibility, and Corporate Investment

Review of Financial Studies, Vol. 20, Issue 5, pp. 1429-1460, 2007
Posted: 25 Jun 2008
Heitor Almeida and Murillo Campello
University of Illinois at Urbana-Champaign and Cornell University

Abstract:

G31

Expected Returns, Yield Spreads, and Asset Pricing Tests

Simon School Working Paper No. FR 04-04, AFA 2005 Philadelphia Meetings
Number of pages: 48 Posted: 12 Dec 2004
Murillo Campello, Long Chen and Lu Zhang
Cornell University, Cheung Kong Graduate School of Business and Ohio State University - Fisher College of Business
Downloads 1,117 (13,585)
Citation 30

Abstract:

Expected Returns, Risk Factors, Systematic Risk, Yield Spreads

Expected Returns, Yield Spreads, and Asset Pricing Tests

Review of Financial Studies, Forthcoming
Number of pages: 52 Posted: 07 Nov 2007
Murillo Campello, Long Chen and Lu Zhang
Cornell University, Cheung Kong Graduate School of Business and Ohio State University - Fisher College of Business
Downloads 210 (115,515)
Citation 30

Abstract:

Expected returns, risk factors, systematic risk, yield spreads

Expected Returns, Yield Spreads, and Asset Pricing Tests

NBER Working Paper No. w11323
Number of pages: 41 Posted: 13 Jun 2005
Murillo Campello, Long Chen and Lu Zhang
Cornell University, Cheung Kong Graduate School of Business and Ohio State University - Fisher College of Business
Downloads 47 (330,133)
Citation 30

Abstract:

Expected Returns, Yield Spreads, and Asset Pricing Tests

The Review of Financial Studies, Vol. 21, Issue 3, pp. 1297-1338, 2008
Posted: 02 Jul 2008
Murillo Campello
Cornell University

Abstract:

G12, E44

8.

Debt Financing: Does it Boost or Hurt Firm Performance in Product Markets?

Journal of Financial Economics, Forthcoming
Number of pages: 42 Posted: 21 Apr 2005
Murillo Campello
Cornell University
Downloads 1,265 (9,945)
Citation 44

Abstract:

Capital structure, product market competition, industry concentration, endogeneity, GMM

Capital Structure and Product Markets Interactions: Evidence from Business Cycles

Number of pages: 32 Posted: 02 Mar 2000
Murillo Campello
Cornell University
Downloads 1,242 (11,491)
Citation 54

Abstract:

Capital Structure and Product Markets Interactions: Evidence from Business Cycles

Journal of Financial Economics, Vol. 68, pp. 353-378, 2003
Posted: 11 Apr 2002
Murillo Campello
Cornell University

Abstract:

Corporate Financial and Investment Policies when Future Financing is Not Frictionless

Charles A. Dice Center Working Paper No. 2008-16 and Fisher College of Business Working Paper No. 2008-03-015
Number of pages: 37 Posted: 15 Nov 2006 Last Revised: 27 Sep 2010
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University and Ohio State University (OSU) - Department of Finance
Downloads 1,086 (14,198)
Citation 29

Abstract:

financial constraints, types of investment, capital budgeting, risk shifting

Corporate Financial and Investment Policies When Future Financing is Not Frictionless

NBER Working Paper No. w12773
Number of pages: 41 Posted: 23 Dec 2006
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University and Ohio State University (OSU) - Department of Finance
Downloads 61 (291,076)
Citation 29

Abstract:

11.
Downloads 1,047 ( 15,342)
Citation 29

Who Herds?

University of Illinois Working Paper, AFA 2006 Boston Meetings Paper
Number of pages: 35 Posted: 18 Mar 2005
Dan Bernhardt, Murillo Campello and Edward Kutsoati
University of Illinois at Urbana-Champaign - Department of Economics, Cornell University and Tufts University - Department of Economics
Downloads 1,047 (15,067)
Citation 29

Abstract:

Who Herds?

Journal of Financial Economics, Forthcoming
Posted: 06 Mar 2006
Dan Bernhardt, Murillo Campello and Edward Kutsoati
University of Illinois at Urbana-Champaign - Department of Economics, Cornell University and Tufts University - Department of Economics

Abstract:

Earnings forecasting, Financial analysts, Herding, Econometric test, Contrarian behavior

12.
Downloads 976 ( 17,035)
Citation 12

Liquidity Mergers

Journal of Financial Economics (JFE), Forthcoming, AFA 2010 Atlanta Meetings Paper
Number of pages: 66 Posted: 18 Mar 2009 Last Revised: 14 Feb 2012
Heitor Almeida, Murillo Campello and Dirk Hackbarth
University of Illinois at Urbana-Champaign, Cornell University and Boston University Questrom School of Business
Downloads 951 (17,391)
Citation 12

Abstract:

Mergers and acquisitions, credit lines, cash, asset specificity, financial distress

Liquidity Mergers

NBER Working Paper No. w16724
Number of pages: 67 Posted: 31 Jan 2011
Heitor Almeida, Murillo Campello and Dirk Hackbarth
University of Illinois at Urbana-Champaign, Cornell University and Boston University Questrom School of Business
Downloads 25 (416,601)
Citation 12

Abstract:

13.

The Dynamics of Earnings Forecast Management

University of Illinois Working Paper
Number of pages: 32 Posted: 26 Mar 2003
Dan Bernhardt and Murillo Campello
University of Illinois at Urbana-Champaign - Department of Economics and Cornell University
Downloads 881 (19,358)
Citation 10

Abstract:

Analysts consensus, forecast errors, earnings management

14.

Are Financial Constraints Priced? Evidence from Firm Fundamentals and Stock Returns

Journal of Money, Credit, and Banking, Forthcoming
Number of pages: 22 Posted: 19 Mar 2005 Last Revised: 18 Feb 2010
Murillo Campello and Long Chen
Cornell University and Cheung Kong Graduate School of Business
Downloads 879 (18,986)
Citation 3

Abstract:

Financial constraints, equity returns, credit spreads, systematic risk, macroeconomic shocks

15.

Financing Frictions and the Substitution Between Internal and External Funds

AFA 2008 New Orleans Meetings Paper
Number of pages: 36 Posted: 19 Mar 2007 Last Revised: 23 Apr 2008
Heitor Almeida and Murillo Campello
University of Illinois at Urbana-Champaign and Cornell University
Downloads 874 (19,303)
Citation 8

Abstract:

Capital structure, external financing, pecking order, financial constraints, investment, GMM, business cycles

16.

Real Assets and Capital Structure

Number of pages: 51 Posted: 02 Mar 2010 Last Revised: 10 Sep 2013
Murillo Campello and Erasmo Giambona
Cornell University and Syracuse University - Whitman School of Management - Finance Department; James D. Kuhn Center for Real Estate
Downloads 871 (18,930)
Citation 8

Abstract:

Asset tangibility, capital structure, credit frictions, instrumental variables, asset demand

Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis

Number of pages: 50 Posted: 17 May 2009 Last Revised: 15 Sep 2011
University of Illinois at Urbana-Champaign, Cornell University, University of Illinois at Urbana-Champaign and University of Illinois at Urbana-Champaign - Department of Finance
Downloads 758 (24,351)
Citation 61

Abstract:

Financial crisis, debt maturity, matching estimators, investment spending, financing constraints

Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis

NBER Working Paper No. w14990
Number of pages: 36 Posted: 26 May 2009
University of Illinois at Urbana-Champaign, Cornell University, University of Illinois at Urbana-Champaign and University of Illinois at Urbana-Champaign - Department of Finance
Downloads 113 (197,183)
Citation 61

Abstract:

Internal Capital Markets in Financial Conglomerates: Evidence from Small Bank Responses to Monetary Policy

Number of pages: 42 Posted: 25 Nov 2001
Murillo Campello
Cornell University
Downloads 810 (22,099)
Citation 60

Abstract:

Internal Capital Markets, Financial Constraints, Financial Institutions, Monetary Policy

Internal Capital Markets in Financial Conglomerates: Evidence from Small Bank Responses to Monetary Policy

Journal of Finance, Vol. 57, pp. 2773-2805, 2002
Posted: 01 Jan 2002
Murillo Campello
Cornell University

Abstract:

Internal Capital Markets, Financial Constraints, Financial Institutions, Monetary Policy

The Real and Financial Implications of Corporate Hedging

Number of pages: 49 Posted: 29 Jan 2010
Murillo Campello, Chen Lin, (马跃) Yue Ma and Hong Zou
Cornell University, The University of Hong Kong - Faculty of Business and Economics, City University of Hong Kong (CityUHK) - Department of Economics & Finance and Lingnan University, Department of Finance and Insurance
Downloads 587 (34,625)
Citation 18

Abstract:

Hedging, risk management, financing terms, investment spending, instrumental variables

The Real and Financial Implications of Corporate Hedging

Forthcoming, Journal of Finance
Number of pages: 42 Posted: 17 Mar 2010 Last Revised: 02 Jan 2011
Murillo Campello, Chen Lin, (马跃) Yue Ma and Hong Zou
Cornell University, The University of Hong Kong - Faculty of Business and Economics, City University of Hong Kong (CityUHK) - Department of Economics & Finance and Faculty of Business and Economics, University of Hong Kong
Downloads 185 (130,451)
Citation 18

Abstract:

Hedging, risk management, financing terms, investment spending, instrumental variables

The Real and Financial Implications of Corporate Hedging

NBER Working Paper No. w16622
Number of pages: 35 Posted: 27 Dec 2010
Murillo Campello, Chen Lin, (马跃) Yue Ma and Hong Zou
Cornell University, The University of Hong Kong - Faculty of Business and Economics, City University of Hong Kong (CityUHK) - Department of Economics & Finance and Faculty of Business and Economics, University of Hong Kong
Downloads 33 (379,366)
Citation 18

Abstract:

20.

The Long-Term Cost of the Financial Crisis

Number of pages: 6 Posted: 12 Mar 2009
Murillo Campello, John R. Graham and Campbell R. Harvey
Cornell University, Duke University and Duke University - Fuqua School of Business
Downloads 785 (22,141)
Citation 2

Abstract:

Financial crisis, financing constraints, investment spending, liquidity management, matching estimators

21.

The Financial Accelerator: Evidence from International Housing Markets

AFA 2007 Chicago Meetings Paper
Number of pages: 32 Posted: 18 Mar 2006
Heitor Almeida, Crocker H. Liu and Murillo Campello
University of Illinois at Urbana-Champaign, Arizona State University and Cornell University
Downloads 764 (23,188)
Citation 7

Abstract:

financial accelerator, housing prices, collateral constraint, income constraint, credit multiplier

22.

Analyst Compensation and Forecast Bias

Tufts University, Department of Economics Working Paper No. 99-09
Number of pages: 27 Posted: 20 Sep 1999
Dan Bernhardt, Murillo Campello and Edward Kutsoati
University of Illinois at Urbana-Champaign - Department of Economics, Cornell University and Tufts University - Department of Economics
Downloads 731 (24,845)
Citation 3

Abstract:

23.

Product Market Performance, Switching Costs, and Liquidation Values: The Real Effects of Financial Leverage

AFA 2007 Chicago Meetings Paper
Number of pages: 43 Posted: 19 Mar 2005
Murillo Campello and Zsuzsanna Fluck
Cornell University and Michigan State University - Department of Finance
Downloads 660 (25,811)
Citation 10

Abstract:

Leverage, product market competition, switching costs, asset liquidation, endogeneity, business cycles

24.
Downloads 618 ( 32,831)
Citation 4

The Firm-Level Credit Multiplier

Journal of Financial Intermediation, Forthcoming, EFA 2008 Athens Meetings Paper
Number of pages: 50 Posted: 29 Feb 2012
Murillo Campello and Dirk Hackbarth
Cornell University and Boston University Questrom School of Business
Downloads 597 (33,836)
Citation 4

Abstract:

Credit Multiplier, Capital Structure, Financing Constraints, Investment, Real Options

The Firm-Level Credit Multiplier

NBER Working Paper No. w17805
Number of pages: 51 Posted: 03 Feb 2012
Murillo Campello and Dirk Hackbarth
Cornell University and Boston University Questrom School of Business
Downloads 21 (438,681)
Citation 4

Abstract:

Do Stock Prices Influence Corporate Decisions? Evidence from the Technology Bubble

Number of pages: 42 Posted: 13 Mar 2006
Murillo Campello and John R. Graham
Cornell University and Duke University
Downloads 536 (39,109)
Citation 18

Abstract:

Stock markets, real investment, bubbles, financial constraints, endogeneity

Do Stock Prices Influence Corporate Decisions? Evidence from the Technology Bubble

NBER Working Paper No. w13640
Number of pages: 48 Posted: 30 Nov 2007
Murillo Campello and John R. Graham
Cornell University and Duke University
Downloads 49 (323,953)
Citation 18

Abstract:

26.

Firm Balance Sheets and Monetary Policy Transmission

Journal of Monetary Economics, Forthcoming
Number of pages: 41 Posted: 28 Jan 2006
Adam B. Ashcraft and Murillo Campello
Federal Reserve Bank of New York and Cornell University
Downloads 526 (38,894)
Citation 16

Abstract:

Firm Financial Constraints, Monetary Policy, Balance Sheet Channel, Financial Conglomerates, Internal Capital Markets

27.

Investment Risk, CDS Insurance and Firm Financing

Number of pages: 47 Posted: 28 Feb 2011 Last Revised: 26 Aug 2016
Murillo Campello and Rafael Matta
Cornell University and University of Amsterdam - Finance Group
Downloads 456 (37,501)
Citation 1

Abstract:

CDS, Bankruptcy, Moral Hazard, Financing Efficiency, Regulation

28.

Asset Tangibility and Firm Performance Under External Financing: Evidence from Product Markets

Number of pages: 41 Posted: 21 Mar 2007
Murillo Campello
Cornell University
Downloads 445 (39,840)
Citation 3

Abstract:

Product markets, asset tangibility, external financing, moral hazard, endogeneity

Corporate Liquidity Management: A Conceptual Framework and Survey

Fisher College of Business Working Paper No. 2013-03-15, Charles A. Dice Center Working Paper No. 2013-15
Number of pages: 46 Posted: 06 Oct 2013
University of Illinois at Urbana-Champaign, Cornell University, University of Kentucky and Ohio State University (OSU) - Department of Finance
Downloads 406 (55,688)
Citation 3

Abstract:

Liquidity, Cash, Financial Constraints, Financial Crisis

Corporate Liquidity Management: A Conceptual Framework and Survey

NBER Working Paper No. w19502
Number of pages: 46 Posted: 05 Oct 2013
University of Illinois at Urbana-Champaign, Cornell University, University of Kentucky and Ohio State University (OSU) - Department of Finance
Downloads 23 (427,441)
Citation 3

Abstract:

Corporate Liquidity Management: A Conceptual Framework and Survey

Annual Review of Financial Economics, Vol. 6, pp. 135-162, 2014
Posted: 25 Nov 2014
University of Illinois at Urbana-Champaign, Cornell University, University of Kentucky and Ohio State University (OSU) - Department of Finance

Abstract:

30.

Access to Liquidity and Corporate Investment in Europe During the Financial Crisis

Number of pages: 38 Posted: 25 Nov 2010 Last Revised: 23 Aug 2011
Cornell University, Syracuse University - Whitman School of Management - Finance Department; James D. Kuhn Center for Real Estate, Duke University and Duke University - Fuqua School of Business
Downloads 396 (52,243)
Citation 7

Abstract:

Financial Crisis, Investment Spending, Lines of Credit

31.

Customer Concentration and Loan Contract Terms

Journal of Financial Economics, Forthcoming
Number of pages: 65 Posted: 29 May 2014 Last Revised: 13 Aug 2016
Murillo Campello and Janet Gao
Cornell University and Indiana University - Kelley School of Business
Downloads 293 (23,847)

Abstract:

Customer Concentration, Bank Loans, Contract Terms, Financial Distress, Instrumental Variables, Fixed Effects

32.

How Are Venture Capitalists Rewarded? The Economics of Venture Capital Partnerships

Number of pages: 43 Posted: 16 Mar 2010 Last Revised: 13 Jan 2015
Murillo Campello and Rafael Matta
Cornell University and University of Amsterdam - Finance Group
Downloads 278 (78,675)
Citation 1

Abstract:

Venture capitalists, project screening, capital markets efficiency, model calibration

Is the Stock Market Just a Side Show? Evidence from a Structural Reform

Number of pages: 57 Posted: 05 Nov 2011
Murillo Campello, Rafael P. Ribas and Yan Albert Wang
Cornell University, University of Amsterdam - Finance Group and Auburn University
Downloads 265 (90,844)
Citation 1

Abstract:

Is the Stock Market Just a Side Show? Evidence from a Structural Reform

NBER Working Paper No. w20121
Number of pages: 75 Posted: 19 May 2014
Murillo Campello, Rafael P. Ribas and Yan Albert Wang
Cornell University, University of Amsterdam - Finance Group and Auburn University
Downloads 10 (501,576)
Citation 1
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Abstract:

34.
Downloads 275 ( 87,686)
Citation 19

Measurement Errors in Investment Equations

Number of pages: 52 Posted: 23 Mar 2010 Last Revised: 06 Apr 2010
Heitor Almeida, Murillo Campello and Antonio F. Galvao Jr.
University of Illinois at Urbana-Champaign, Cornell University and University of Illinois at Urbana-Champaign - Department of Economics
Downloads 248 (97,439)
Citation 19

Abstract:

Investment equations, measurement error, Monte Carlo simulations, instrumental variables, GMM

Measurement Errors in Investment Equations

NBER Working Paper No. w15951
Number of pages: 55 Posted: 03 May 2010
Heitor Almeida, Murillo Campello and Antonio F. Galvao Jr.
University of Illinois at Urbana-Champaign, Cornell University and University of Illinois at Urbana-Champaign - Department of Economics
Downloads 27 (406,264)
Citation 19

Abstract:

Aggregate Risk and the Choice between Cash and Lines of Credit

Journal of Finance, Forthcoming
Number of pages: 85 Posted: 01 Aug 2012
Viral V. Acharya, Heitor Almeida and Murillo Campello
New York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Cornell University
Downloads 200 (121,120)
Citation 20

Abstract:

bank lines of credit, cash holdings, liquidity management, systematic risk, loan spreads, loan

Aggregate Risk and the Choice between Cash and Lines of Credit

NBER Working Paper No. w16122
Number of pages: 48 Posted: 29 Jun 2010
Viral V. Acharya, Heitor Almeida and Murillo Campello
New York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Cornell University
Downloads 51 (317,976)
Citation 21

Abstract:

Aggregate Risk and the Choice between Cash and Lines of Credit

CEPR Discussion Paper No. DP8913
Number of pages: 67 Posted: 04 Apr 2012
Viral V. Acharya, Heitor Almeida and Murillo Campello
New York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Cornell University
Downloads 0
Citation 20
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Abstract:

asset beta, bank lines of credit, cash holdings, liquidity management, loan maturity, loan spreads, systemic risk

36.

Policy Heterogeneity in Empirical Corporate Finance

Number of pages: 56 Posted: 14 Apr 2013 Last Revised: 17 Dec 2014
Murillo Campello, Antonio F Galvao and Ted Juhl
Cornell University, University of Iowa and University of Kansas - Department of Economics
Downloads 220 (78,389)

Abstract:

fixed effects, estimation, slope heterogeneity

37.

More on the Performance of Higher Order Moment Estimators in Investment Equations

Number of pages: 41 Posted: 07 Oct 2010
Heitor Almeida, Murillo Campello and Antonio F. Galvao Jr.
University of Illinois at Urbana-Champaign, Cornell University and University of Illinois at Urbana-Champaign - Department of Economics
Downloads 179 (131,189)
Citation 2

Abstract:

Investment equations, measurement error, Monte Carlo simulations, instrumental variables, GMM

38.

Enlarging the Contracting Space: Collateral Menus, Access to Credit, and Economic Activity

Forthcoming, Review of Financial Studies
Number of pages: 45 Posted: 22 Nov 2013 Last Revised: 16 Nov 2015
Murillo Campello and Mauricio Larrain
Cornell University and Columbia University
Downloads 127 (137,343)

Abstract:

Contractibility, collateral, capital structure, credit availability, real activity

39.

Renegotiation or Bankruptcy? The Effects of Out-of-Court Costs on Distress Resolution

Number of pages: 65 Posted: 29 Mar 2015 Last Revised: 22 Aug 2016
Murillo Campello, Tomislav Ladika and Rafael Matta
Cornell University, University of Amsterdam and University of Amsterdam - Finance Group
Downloads 106 (74,618)

Abstract:

Debt renegotiation, bankruptcy, credit default swaps, corporate taxes, credit access

Access to Collateral and the Democratization of Credit: France's Reform of the Napoleonic Code

Number of pages: 48 Posted: 11 Feb 2016 Last Revised: 18 Mar 2016
Kevin Aretz, Murillo Campello and Maria-Teresa Marchica
Manchester Business School, Cornell University and University of Manchester - Manchester Business School
Downloads 94 (224,793)

Abstract:

Security Laws, Contractibility, Collateral, Capital Structure, Bank Loans, Welfare

Access to Collateral and the Democratization of Credit: France's Reform of the Napoleonic Code

Paris December 2016 Finance Meeting EUROFIDAI - AFFI
Number of pages: 51 Posted: 27 May 2016
Kevin Aretz, Murillo Campello and Maria-Teresa Marchica
Manchester Business School, Cornell University and University of Manchester - Manchester Business School
Downloads 7 (522,822)

Abstract:

Security Laws, Contractibility, Collateral, Capital Structure, Bank Loans, Welfare

41.

Corporate Demand for Liquidity

NBER Working Paper No. w9253
Number of pages: 44 Posted: 04 Oct 2002
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University and Ohio State University (OSU) - Department of Finance
Downloads 84 (226,500)
Citation 6

Abstract:

42.

Borrowers' Financial Constraints and the Transmission of Monetary Policy: Evidence from Financial Conglomerates

FRB of New York Staff Report No. 153
Number of pages: 41 Posted: 31 Jul 2006
Adam B. Ashcraft and Murillo Campello
Federal Reserve Bank of New York and Cornell University
Downloads 82 (229,720)
Citation 2

Abstract:

balance sheet channel, internal capital markets

43.

Bankruptcy and the Cost of Organized Labor: Evidence from Union Elections

Kelley School of Business Research Paper No. 15-61 (First version: July 2015)
Number of pages: 57 Posted: 21 Aug 2015 Last Revised: 26 Mar 2016
Murillo Campello, Janet Gao, Jiaping Qiu and Yue Zhang
Cornell University, Indiana University - Kelley School of Business, McMaster University - Michael G. DeGroote School of Business and McMaster University
Downloads 48 (64,830)

Abstract:

Unionization, Bond Values, Regression Discontinuity Design, Bankruptcy Costs

44.

Real Assets and Capital Structure

NBER Working Paper No. w18147
Number of pages: 51 Posted: 16 Jun 2012
Murillo Campello and Erasmo Giambona
Cornell University and Syracuse University - Whitman School of Management - Finance Department; James D. Kuhn Center for Real Estate
Downloads 19 (399,989)
Citation 7

Abstract:

45.

CARE/CEASA Roundtable on: Liquidity and Capital Management

Journal of Applied Corporate Finance, Vol. 24, Issue 1, pp. 42-59, 2012
Number of pages: 20 Posted: 25 Mar 2012
Columbia University - Columbia Business School, Cornell University, University of North Carolina at Chapel Hill and London Business School
Downloads 1 (526,308)
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Abstract:

46.

The Rise of the Equity Lending Market: Implications for Corporate Financial Policies

Number of pages: 44 Posted: 15 Dec 2015 Last Revised: 05 Jan 2016
Murillo Campello and Pedro A. C. Saffi
Cornell University and University of Cambridge - Judge Business School
Downloads 0 (109,120)

Abstract:

Equity lending market, cash holdings, share repurchases, short sales constraints, institutional ownership, instrumental variables

47.

Enlarging the Contracting Space: Collateral Menus, Access to Credit, and Economic Activity

NBER Working Paper No. w21690
Number of pages: 44 Posted: 02 Nov 2015
Murillo Campello and Mauricio Larrain
Cornell University and Columbia University
Downloads 0 (504,205)
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Abstract:

48.

Whistleblowers on the Board? The Role of Independent Directors in Cartel Prosecutions

Number of pages: 47 Posted: 12 Oct 2015
Murillo Campello, Daniel Ferrés and Gaizka Ormazabal
Cornell University, Universidad de Montevideo and University of Navarra, IESE Business School
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Abstract:

Cartel Prosecution, Antitrust Policy, Leniency Programs, Independent Directors, Reputational Costs, Heckman Selection Test