Viral V. Acharya

New York University - Leonard N. Stern School of Business

Professor of Finance

44 West 4th Street

New York, NY NY 10012

United States

http://pages.stern.nyu.edu/~sternfin/vacharya/public_html/~vacharya.htm

Centre for Economic Policy Research (CEPR)

Fellow

77 Bastwick Street

London, EC1V 3PZ

United Kingdom

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

New York University (NYU) - Department of Finance

C.V. Starr Professor of Economics

Stern School of Business

44 West 4th Street

New York, NY 10012-1126

United States

SCHOLARLY PAPERS

114

DOWNLOADS
Rank 77

SSRN RANKINGS

Top 77

in Total Papers Downloads

84,266

CITATIONS
Rank 115

SSRN RANKINGS

Top 115

in Total Papers Citations

2,400

Scholarly Papers (114)

1.
Downloads 8,788 ( 408)
Citation 100

Measuring Systemic Risk

AFA 2011 Denver Meetings Paper
Number of pages: 46 Posted: 22 Mar 2010 Last Revised: 09 Aug 2010
New York University - Leonard N. Stern School of Business, AQR Capital Management, LLC, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 5,046 (1,077)
Citation 100

Abstract:

systemic risk, bailout, financial regulation, value at risk

Measuring Systemic Risk

FRB of Cleveland Working Paper No. 10-02
Number of pages: 55 Posted: 24 Apr 2010 Last Revised: 28 Aug 2010
New York University - Leonard N. Stern School of Business, AQR Capital Management, LLC, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 3,728 (1,822)
Citation 100

Abstract:

systemic risk, risk pricing, systemic expected shortfall, risk internalization

Measuring Systemic Risk

CEPR Discussion Paper No. DP8824
Number of pages: 49 Posted: 01 Mar 2012
New York University - Leonard N. Stern School of Business, AQR Capital Management, LLC, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 14 (493,957)
Citation 100

Abstract:

bailout, financial regulation, systemic risk, value at risk

A Theory of Systemic Risk and Design of Prudential Bank Regulation

Number of pages: 50 Posted: 10 Feb 2002
Viral V. Acharya
New York University - Leonard N. Stern School of Business
Downloads 3,300 (2,243)
Citation 86

Abstract:

Systemic risk, Risk-shifting, Capital adequacy, Bank regulation, Banking

A Theory of Systemic Risk and Design of Prudential Bank Regulation

Journal of Financial Stability, Forthcoming
Number of pages: 49 Posted: 29 Jan 2009
Viral V. Acharya
New York University - Leonard N. Stern School of Business
Downloads 1,691 (7,281)
Citation 86

Abstract:

Systemic risk, Crisis, Risk-shifting, Capital adequacy, Bank regulation

A Theory of Systemic Risk and Design of Prudential Bank Regulation

CEPR Discussion Paper No. DP7164
Number of pages: 51 Posted: 18 Feb 2009
Viral V. Acharya
New York University - Leonard N. Stern School of Business
Downloads 8 (527,539)
Citation 86

Abstract:

Bank regulation, Capital adequacy, Crisis, Risk-shifting, Systemic risk

Corporate Governance and Value Creation: Evidence from Private Equity

Number of pages: 44 Posted: 08 Jan 2009 Last Revised: 17 Aug 2011
Viral V. Acharya, Oliver Gottschalg, Moritz Hahn and Conor Kehoe
New York University - Leonard N. Stern School of Business, HEC Paris - Strategy & Business Policy, Ludwig Maximilian University of Munich and McKinsey & Company, Inc.
Downloads 3,178 (2,406)
Citation 44

Abstract:

leveraged buyouts (LBO), management buyouts (MBO), active ownership, activism, management turnover, alpha

Corporate Governance and Value Creation: Evidence from Private Equity

NYU Working Paper No. 2451/27878
Number of pages: 61 Posted: 09 Mar 2009 Last Revised: 10 Sep 2013
Viral V. Acharya, Oliver Gottschalg, Moritz Hahn and Conor Kehoe
New York University - Leonard N. Stern School of Business, HEC Paris - Strategy & Business Policy, Ludwig Maximilian University of Munich and McKinsey & Company, Inc.
Downloads 844 (21,678)
Citation 44

Abstract:

Corporate Governance and Value Creation: Evidence from Private Equity

CEPR Discussion Paper No. DP7242
Number of pages: 63 Posted: 07 Apr 2009
Viral V. Acharya, Moritz Hahn and Conor Kehoe
New York University - Leonard N. Stern School of Business, Ludwig Maximilian University of Munich and McKinsey & Company, Inc.
Downloads 57 (311,609)
Citation 44

Abstract:

active ownership, activism, alpha, leveraged buyouts (LBO), management buyouts (MBO), management turnover

4.
Downloads 3,130 ( 2,534)
Citation 407

Asset Pricing with Liquidity Risk

Number of pages: 58 Posted: 28 Jan 2003
Viral V. Acharya and Lasse Heje Pedersen
New York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
Downloads 2,534 (3,602)
Citation 407

Abstract:

liquidity risk, asset pricing

Asset Pricing with Liquidity Risk

NYU Working Paper No. S-DRP-05-09
Number of pages: 36 Posted: 05 Nov 2008
Viral V. Acharya and Lasse Heje Pedersen
New York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
Downloads 217 (115,630)
Citation 407

Abstract:

Liquidity risk, Liquidity-adjusted CAPM, Flight to liquidity, Frictions, Transaction costs

Asset Pricing with Liquidity Risk

NYU Working Paper No. FIN-03-044
Number of pages: 67 Posted: 11 Nov 2008
Viral V. Acharya and Lasse Heje Pedersen
New York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
Downloads 200 (125,351)
Citation 407

Abstract:

Asset Pricing with Liquidity Risk

NBER Working Paper No. w10814
Number of pages: 60 Posted: 18 Oct 2004
Viral V. Acharya and Lasse Heje Pedersen
New York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
Downloads 88 (242,896)
Citation 407

Abstract:

Asset Pricing with Liquidity Risk

CEPR Discussion Paper No. 4718
Number of pages: 47 Posted: 11 Jan 2005
Viral V. Acharya and Lasse Heje Pedersen
New York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
Downloads 47 (341,536)
Citation 407

Abstract:

Liquidity, liquidity risk, asset pricing, frictions, transaction costs

Asset Pricing with Liquidity Risk

CEPR Discussion Paper No. 3749
Number of pages: 60 Posted: 07 Mar 2003
Viral V. Acharya and Lasse Heje Pedersen
New York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
Downloads 44 (351,330)
Citation 407

Abstract:

Liquidity, liquidity risk, capital asset pricing model (CAPM), liquidity premium, equilibrium asset pricing

Asset Pricing with Liquidity Risk

Journal of Financial Economics, Forthcoming
Posted: 16 Dec 2004
Viral V. Acharya and Lasse Heje Pedersen
New York University - Leonard N. Stern School of Business and AQR Capital Management, LLC

Abstract:

Liquidity, liquidity risk, frictions, transaction costs, flight to liquidity

5.

Causes of the Financial Crisis

Critical Review, Vol. 21, Nos. 2 & 3, pp. 195-210, 2009
Number of pages: 16 Posted: 30 Nov 2009
Viral V. Acharya and Matthew P. Richardson
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
Downloads 2,918 (2,194)
Citation 28

Abstract:

Subprime crisis, capital requirements, regulatory arbitrage, mortgage-backed securities, housing bubble

6.
Downloads 2,681 ( 3,350)
Citation 30

Creditor Rights and Corporate Risk-Taking

Number of pages: 43 Posted: 18 Jan 2008
Viral V. Acharya, Yakov Amihud and Lubomir P. Litov
New York University - Leonard N. Stern School of Business, New York University - Stern School of Business and University of Oklahoma - Michael F. Price College of Business
Downloads 1,017 (16,324)
Citation 30

Abstract:

international mergers and acquisitions, bankruptcy code, reorganization, risk taking

Creditor Rights and Corporate Risk-Taking

3rd Annual Conference on Empirical Legal Studies Papers
Number of pages: 61 Posted: 17 Apr 2008 Last Revised: 01 Dec 2009
Viral V. Acharya, Yakov Amihud and Lubomir P. Litov
New York University - Leonard N. Stern School of Business, New York University - Stern School of Business and University of Oklahoma - Michael F. Price College of Business
Downloads 674 (29,816)
Citation 30

Abstract:

bankruptcy, international finance, corporate governance, investment policy

Creditor Rights and Corporate Risk-Taking

NYU Working Paper No. FIN-08-031
Number of pages: 42 Posted: 09 Mar 2009 Last Revised: 10 Jun 2011
Viral V. Acharya, Yakov Amihud and Lubomir P. Litov
New York University - Leonard N. Stern School of Business, New York University - Stern School of Business and University of Oklahoma - Michael F. Price College of Business
Downloads 394 (59,636)
Citation 30

Abstract:

creditor rights, investment policy, bankrutcy code

Creditor Rights and Corporate Risk-Taking

NYU Working Paper No. FIN-07-037
Number of pages: 61 Posted: 03 Nov 2008 Last Revised: 01 Dec 2009
Viral V. Acharya, Yakov Amihud and Lubomir P. Litov
New York University - Leonard N. Stern School of Business, New York University - Stern School of Business and University of Oklahoma - Michael F. Price College of Business
Downloads 299 (82,291)
Citation 30

Abstract:

Creditor Rights and Corporate Risk-Taking

NBER Working Paper No. w15569
Number of pages: 61 Posted: 08 Dec 2009
Viral V. Acharya, Yakov Amihud and Lubomir P. Litov
New York University - Leonard N. Stern School of Business, New York University - Stern School of Business and University of Oklahoma - Michael F. Price College of Business
Downloads 295 (83,535)
Citation 30

Abstract:

Creditor Rights and Corporate Risk-Taking

CEPR Discussion Paper No. DP6697
Number of pages: 46 Posted: 09 Jun 2008
Viral V. Acharya, Yakov Amihud and Lubomir P. Litov
New York University - Leonard N. Stern School of Business, New York University - Stern School of Business and University of Oklahoma - Michael F. Price College of Business
Downloads 2 (561,088)
Citation 30

Abstract:

Bankruptcy, Default, Diversification, Managerial turnover, Recovery

7.

The End of Market Discipline? Investor Expectations of Implicit Government Guarantees

Number of pages: 58 Posted: 19 Nov 2011 Last Revised: 12 Jun 2016
Viral V. Acharya, Deniz Anginer and A. Joseph Warburton
New York University - Leonard N. Stern School of Business, World Bank Research and Syracuse University - College of Law
Downloads 2,536 (2,613)
Citation 2

Abstract:

Too big to fail, financial crisis, Dodd-Frank, bailout, implicit guarantee, moral hazard, systemic risk

8.
Downloads 2,275 ( 4,426)
Citation 114

Insider Trading in Credit Derivatives

Number of pages: 50 Posted: 02 Aug 2005
Viral V. Acharya and Timothy C. Johnson
New York University - Leonard N. Stern School of Business and London Business School
Downloads 2,253 (4,404)
Citation 114

Abstract:

adverse selection, default, bank relationship, credit default swaps, asymmetric information, liquidity

Insider Trading in Credit Derivatives

CEPR Discussion Paper No. 5180
Number of pages: 51 Posted: 25 Aug 2005
Viral V. Acharya and Timothy C. Johnson
New York University - Leonard N. Stern School of Business and London Business School
Downloads 22 (447,596)
Citation 114

Abstract:

Adverse selection, default, bank relationship, credit default swaps, asset pricing

Insider Trading in Credit Derivatives

Journal of Financial Economics, Forthcoming
Posted: 06 Jun 2006
Viral V. Acharya and Timothy C. Johnson
New York University - Leonard N. Stern School of Business and London Business School

Abstract:

adverse selection, default, bank relationship, credit default swaps, asymmetric information, liquidity

Pricing Credit Derivatives with Rating Transitions

Number of pages: 30 Posted: 22 Oct 2001
New York University - Leonard N. Stern School of Business, Santa Clara University - Leavey School of Business and New York University (NYU) - Department of Finance
Downloads 1,605 (7,917)
Citation 6

Abstract:

Risky Debt, Rating Transitions, Credit Derivatives, Credit Sensitive Note, HJM Model

Pricing Credit Derivatives with Rating Transitions

NYU Working Paper No. S-DRP-01-17
Number of pages: 33 Posted: 07 Nov 2008
New York University - Leonard N. Stern School of Business, Santa Clara University - Leavey School of Business and New York University (NYU) - Department of Finance
Downloads 118 (197,512)
Citation 6

Abstract:

Risky Debt, Rating Transitions, Credit Derivatives, Cresdit Senstive Note, HJM Model

Pricing Credit Derivatives with Rating Transitions

NYU Working Paper No. S-CDM-01-07
Number of pages: 33 Posted: 05 Nov 2008
New York University - Leonard N. Stern School of Business, Santa Clara University - Leavey School of Business and New York University (NYU) - Department of Finance
Downloads 56 (314,331)
Citation 6

Abstract:

Risky debt, Rating Transitions

Pricing Credit Derivatives with Rating Transitions

NYU Working Paper No. FIN-01-035
Number of pages: 33 Posted: 03 Nov 2008
New York University - Leonard N. Stern School of Business, Santa Clara University - Leavey School of Business and New York University (NYU) - Department of Finance
Downloads 48 (338,445)
Citation 6

Abstract:

Pricing Credit Derivatives with Rating Transitions

CEPR Discussion Paper No. 3329
Number of pages: 34 Posted: 21 May 2002
New York University - Leonard N. Stern School of Business, Santa Clara University - Leavey School of Business and New York University (NYU) - Department of Finance
Downloads 42 (358,160)
Citation 6

Abstract:

Risky debt, rating transitions, credit derivatives, credit sensitive note, HJM model

Pricing Credit Derivatives with Rating Transitions

Financial Analysts Journal, 2002
Posted: 09 Mar 2011 Last Revised: 14 Mar 2011
New York University - Leonard N. Stern School of Business, Santa Clara University - Leavey School of Business and New York University (NYU) - Department of Finance

Abstract:

Pricing Credit Derivatives with Rating Transitions

Financial Analysts Journal, Vol. 58, No. 3 May/June 2002
Posted: 23 Oct 2001
New York University - Leonard N. Stern School of Business, Santa Clara University - Leavey School of Business and New York University (NYU) - Department of Finance

Abstract:

Risky Debt, Rating Transitions, Credit Derivatives, Credit Sensitive Note, HJM Model

Dividends and Bank Capital in the Financial Crisis of 2007-2009

Number of pages: 36 Posted: 20 Mar 2009 Last Revised: 10 Nov 2010
Viral V. Acharya, Irvind Gujral and Hyun Song Shin
New York University - Leonard N. Stern School of Business, London Business School (MBA 2007) and Bank for International Settlements
Downloads 1,751 (6,825)
Citation 30

Abstract:

Credit Crisis, Bank Capital, Dividends

Dividends and Bank Capital in the Financial Crisis of 2007-2009

NBER Working Paper No. w16896
Number of pages: 43 Posted: 21 Mar 2011
New York University - Leonard N. Stern School of Business, London Business School (MBA 2007), University of California, Berkeley - Haas School of Business and Bank for International Settlements
Downloads 69 (281,636)
Citation 30

Abstract:

Dividends and Bank Capital in the Financial Crisis of 2007-2009

CEPR Discussion Paper No. DP8801
Number of pages: 45 Posted: 01 Mar 2012
New York University - Leonard N. Stern School of Business, London Business School (MBA 2007), University of California, Berkeley - Haas School of Business and Bank for International Settlements
Downloads 11 (511,275)
Citation 29

Abstract:

asset substitution, crisis, regulatory capital, risk-shifting

11.
Downloads 1,651 ( 7,763)
Citation 10

Private Equity: Boom and Bust?

Journal of Applied Corporate Finance, Vol. 19, No. 4, 2007
Number of pages: 10 Posted: 16 Jan 2008 Last Revised: 24 Jan 2008
Viral V. Acharya, Julian R. Franks and Henri Servaes
New York University - Leonard N. Stern School of Business, London Business School and London Business School
Downloads 1,620 (7,818)
Citation 10

Abstract:

leveraged buyouts, hedge funds, securitization, credit risk transfer, financial crisis, bankruptcy

Private Equity: Boom and Bust?

Journal of Applied Corporate Finance, Vol. 19, Issue 4, pp. 44-53, Fall 2007
Number of pages: 12 Posted: 19 Dec 2007
Viral V. Acharya, Julian R. Franks and Henri Servaes
New York University - Leonard N. Stern School of Business, London Business School and London Business School
Downloads 31 (400,994)
Citation 10

Abstract:

Contract Renegotiation and the Optimality of Resetting Executive Stock Options

Number of pages: 43 Posted: 31 Dec 1998
Viral V. Acharya, Kose John and Rangarajan K. Sundaram
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 1,606 (7,911)
Citation 45

Abstract:

Contract Renegotiation and the Optimality of Resetting Executive Stock Options

NYU Working Paper No. FIN-98-088
Number of pages: 48 Posted: 11 Nov 2008
Viral V. Acharya, Kose John and Rangarajan K. Sundaram
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 31 (400,994)
Citation 44

Abstract:

Should Banks be Diversified? Evidence from Individual Bank Loan Portfolios

BIS Working Paper No. 118, AFA 2003 Washington, DC Meetings; London Business School, NYU Stern School of Business Working Paper
Number of pages: 61 Posted: 13 Dec 2005
Viral V. Acharya, Anthony Saunders and Iftekhar Hasan
New York University - Leonard N. Stern School of Business, New York University - Leonard N. Stern School of Business and Gabelli School of Business, Fordham University
Downloads 1,636 (7,721)
Citation 59

Abstract:

Focus, Diversification, Monitoring, Bank risk, Bank return

Should Banks Be Diversified? Evidence from Individual Bank Loan Portfolios

Journal of Business, Forthcoming
Posted: 08 Jun 2004
Viral V. Acharya, Anthony Saunders and Iftekhar Hasan
New York University - Leonard N. Stern School of Business, New York University - Leonard N. Stern School of Business and Gabelli School of Business, Fordham University

Abstract:

Focus, Diversification, Monitoring, Bank risk, Bank return

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 1,501 (8,827)
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 (317,155)
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 (453,292)
Citation 96

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

15.
Downloads 1,558 ( 8,472)
Citation 26

Cash Holdings and Credit Risk

Western Finance Association 2008 Meetings Paper, Rock Center for Corporate Governance at Stanford University Working Paper No. 123
Number of pages: 46 Posted: 22 Mar 2007 Last Revised: 20 Aug 2012
Viral V. Acharya, Sergei A. Davydenko and Ilya A. Strebulaev
New York University - Leonard N. Stern School of Business, University of Toronto - Finance Area and Stanford University - Graduate School of Business
Downloads 1,499 (8,846)
Citation 26

Abstract:

Credit spreads, Default, Liquidity, Precautionary savings

Cash Holdings and Credit Risk

NBER Working Paper No. w16995
Number of pages: 39 Posted: 02 May 2011
Viral V. Acharya, Sergei A. Davydenko and Ilya A. Strebulaev
New York University - Leonard N. Stern School of Business, University of Toronto - Finance Area and Stanford University - Graduate School of Business
Downloads 53 (323,057)
Citation 26

Abstract:

Cash Holdings and Credit Risk

CEPR Discussion Paper No. DP7125
Number of pages: 48 Posted: 18 Feb 2009
Viral V. Acharya, Sergei A. Davydenko and Ilya A. Strebulaev
New York University - Leonard N. Stern School of Business, University of Toronto - Finance Area and Stanford University - Graduate School of Business
Downloads 6 (537,931)
Citation 26

Abstract:

Credit spreads, Default, Liquidity, Precautionary savings

16.
Downloads 1,446 ( 9,567)
Citation 74

Securitization Without Risk Transfer

AFA 2010 Atlanta Meetings Paper
Number of pages: 51 Posted: 22 Mar 2009 Last Revised: 25 Feb 2012
Viral V. Acharya, Philipp Schnabl and Gustavo Suarez
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Board of Governors of the Federal Reserve System
Downloads 1,307 (11,052)
Citation 74

Abstract:

Asset-backed commercial paper (ABCP), shadow banking, regulatory arbitrage, bank capital, conduits, Structured investment vehicle

Securitization Without Risk Transfer

NBER Working Paper No. w15730
Number of pages: 59 Posted: 10 Feb 2010
Viral V. Acharya, Philipp Schnabl and Gustavo Suarez
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Board of Governors of the Federal Reserve System
Downloads 128 (185,353)
Citation 74

Abstract:

Securitization Without Risk Transfer

CEPR Discussion Paper No. DP8769
Number of pages: 54 Posted: 20 Jan 2012
Viral V. Acharya, Philipp Schnabl and Gustavo Suarez
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Board of Governors of the Federal Reserve System
Downloads 11 (511,275)
Citation 74

Abstract:

asset-backed commercial paper (ABCP), bank capital, conduits, regulatory arbitrage, shadow banking, structured investment vehicle (SIV)

17.
Downloads 1,381 ( 10,313)
Citation 27

The Internal Governance of Firms

ECGI - Finance Working Paper No. 239/2009
Number of pages: 58 Posted: 28 Feb 2009 Last Revised: 09 Aug 2010
Viral V. Acharya, Stewart C. Myers and Raghuram G. Rajan
New York University - Leonard N. Stern School of Business, Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 961 (17,818)
Citation 27

Abstract:

Agency theory, short-termism, corporate governance, dividends, internal organization

The Internal Governance of Firms

NYU Working Paper No. FIN-08-033
Number of pages: 58 Posted: 09 Mar 2009 Last Revised: 09 Aug 2010
Viral V. Acharya, Stewart C. Myers and Raghuram G. Rajan
New York University - Leonard N. Stern School of Business, Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 224 (112,057)
Citation 27

Abstract:

The Internal Governance of Firms

Number of pages: 45 Posted: 20 Dec 2009
Viral V. Acharya, Stewart C. Myers and Raghuram G. Rajan
New York University - Leonard N. Stern School of Business, Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 156 (157,258)
Citation 27

Abstract:

governance, internal

The Internal Governance of Firms

NBER Working Paper No. w15568
Number of pages: 48 Posted: 08 Dec 2009
Viral V. Acharya, Stewart C. Myers and Raghuram G. Rajan
New York University - Leonard N. Stern School of Business, Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 37 (376,354)
Citation 27

Abstract:

The Internal Governance of Firms

CEPR Discussion Paper No. DP7210
Number of pages: 48 Posted: 07 Apr 2009
Viral V. Acharya, Stewart C. Myers and Raghuram G. Rajan
New York University - Leonard N. Stern School of Business, Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 3 (553,413)
Citation 27

Abstract:

Agency theory, Corporate governance, Dividends, Internal organization, Short-termism

Limits to Arbitrage and Hedging: Evidence from Commodity Markets

EFA 2009 Bergen Meetings Paper, AFA 2010 Atlanta Meetings Paper
Number of pages: 57 Posted: 14 Mar 2008 Last Revised: 15 Dec 2015
Viral V. Acharya, Tarun Ramadorai and Lars A. Lochstoer
New York University - Leonard N. Stern School of Business, Imperial College London and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 780 (24,280)
Citation 23

Abstract:

Corporate Hedging, Commodity Pricing, Default Risk, Incomplete Markets, Limits to Arbitrage

Limits to Arbitrage and Hedging: Evidence from Commodity Markets

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 51 Posted: 09 Mar 2009 Last Revised: 08 Jan 2013
Viral V. Acharya, Lars A. Lochstoer and Tarun Ramadorai
New York University - Leonard N. Stern School of Business, University of California, Los Angeles (UCLA) - Anderson School of Management and Imperial College London
Downloads 478 (46,936)
Citation 23

Abstract:

commodities, hedging, limits to arbitrage, oil and gas, futures

Limits to Arbitrage and Hedging: Evidence from Commodity Markets

NYU Working Paper No. 2451/29543
Number of pages: 57 Posted: 10 Sep 2013
Viral V. Acharya, Lars A. Lochstoer and Tarun Ramadorai
New York University - Leonard N. Stern School of Business, University of California, Los Angeles (UCLA) - Anderson School of Management and Imperial College London
Downloads 49 (335,290)
Citation 23

Abstract:

Limits to Arbitrage and Hedging: Evidence from Commodity Markets

NBER Working Paper No. w16875
Number of pages: 57 Posted: 14 Mar 2011
Viral V. Acharya, Lars A. Lochstoer and Tarun Ramadorai
New York University - Leonard N. Stern School of Business, University of California, Los Angeles (UCLA) - Anderson School of Management and Imperial College London
Downloads 33 (392,407)
Citation 23

Abstract:

Limits to Arbitrage and Hedging: Evidence from Commodity Markets

CEPR Discussion Paper No. DP7327
Number of pages: 57 Posted: 15 Jul 2009
Viral V. Acharya, Lars A. Lochstoer and Tarun Ramadorai
New York University - Leonard N. Stern School of Business, University of California, Los Angeles (UCLA) - Anderson School of Management and Imperial College London
Downloads 1 (571,894)
Citation 23

Abstract:

Commodities, Futures, Hedging, Limits to Arbitrage

Limits to Arbitrage and Hedging: Evidence from Commodity Markets

NYU Working Paper No. 2451/29543, Columbia Business School Research Paper No. 13-48
Posted: 26 Jun 2013
Viral V. Acharya, Lars A. Lochstoer and Tarun Ramadorai
New York University - Leonard N. Stern School of Business, University of California, Los Angeles (UCLA) - Anderson School of Management and Imperial College London

Abstract:

19.

Manufacturing Tail Risk: A Perspective on the Financial Crisis of 2007-09

Foundations and Trends in Finance, Vol. 4, 2010
Number of pages: 90 Posted: 25 Feb 2010
New York University - Leonard N. Stern School of Business, New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University - Leonard N. Stern School of Business
Downloads 1,232 (12,390)
Citation 11

Abstract:

Systemic risk, Capital requirements, Regulatory arbitrage, Moral hazard, Too big to fail, Government guarantees, Originate and distribute, Global Imbalances, Greenspan put

20.
Downloads 1,192 ( 13,054)
Citation 9

Competition for Managers and Corporate Governance

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 399/2014, AFA 2011 Denver Meetings Paper
Number of pages: 55 Posted: 19 Mar 2010 Last Revised: 15 Nov 2016
Viral V. Acharya, Marc Gabarro and Paolo F. Volpin
New York University - Leonard N. Stern School of Business, University of Mannheim Business School and City University London - Faculty of Finance
Downloads 867 (20,799)
Citation 9

Abstract:

corporate governance, executive compensation, separate CEO and Chairman.

Competition for Managers, Corporate Governance and Incentive Compensation

AFA 2012 Chicago Meetings Paper
Number of pages: 46 Posted: 19 Mar 2011
Viral V. Acharya, Marc Gabarro and Paolo F. Volpin
New York University - Leonard N. Stern School of Business, University of Mannheim Business School and City University London - Faculty of Finance
Downloads 321 (75,922)
Citation 9

Abstract:

corporate governance, executive compensation, externalities

Competition for Managers, Corporate Governance and Incentive Compensation

CEPR Discussion Paper No. DP8936
Number of pages: 51 Posted: 25 May 2012
Viral V. Acharya, Marc Gabarro and Paolo F. Volpin
New York University - Leonard N. Stern School of Business, University of Mannheim Business School and City University London - Faculty of Finance
Downloads 4 (547,924)
Citation 9

Abstract:

corporate governance, executive compensation, externalities

21.
Downloads 1,156 ( 13,722)
Citation 28

Corporate Governance Externalities

ECGI - Finance Working Paper No. 195/2008
Number of pages: 49 Posted: 20 Dec 2007 Last Revised: 01 Mar 2009
Viral V. Acharya and Paolo F. Volpin
New York University - Leonard N. Stern School of Business and City University London - Faculty of Finance
Downloads 990 (17,004)
Citation 28

Abstract:

corporate governance, executive compensation, ownership structure, externality, regulation, governance standards

Corporate Governance Externalities

EFA 2008 Athens Meetings Paper
Number of pages: 45 Posted: 06 Mar 2008 Last Revised: 29 Sep 2008
Viral V. Acharya and Paolo F. Volpin
New York University - Leonard N. Stern School of Business and City University London - Faculty of Finance
Downloads 161 (153,032)
Citation 28

Abstract:

corporate governance, executive compensation, ownership structure, externality, regulation, governance standards

Corporate Governance Externalities

CEPR Discussion Paper No. DP6627
Number of pages: 33 Posted: 05 Jun 2008
Viral V. Acharya and Paolo F. Volpin
New York University - Leonard N. Stern School of Business and City University London - Faculty of Finance
Downloads 5 (542,945)
Citation 28

Abstract:

Corporate governance, executive compensation, externality, governance standards, ownership structure, regulation

Corporate Governance Externalities

Review of Finance, Vol. 14, Issue 1, pp. 1-33, 2010
Posted: 25 Jan 2010
Viral V. Acharya and Paolo F. Volpin
New York University - Leonard N. Stern School of Business and City University London - Faculty of Finance

Abstract:

G34, J63, K22, K42, L14

A Theory of Income Smoothing When Insiders Know More than Outsiders

Forthcoming, Review of Financial Studies
Number of pages: 54 Posted: 16 Nov 2011 Last Revised: 24 Mar 2015
Viral V. Acharya and Bart M. Lambrecht
New York University - Leonard N. Stern School of Business and University of Cambridge - Judge Business School
Downloads 667 (30,248)
Citation 3

Abstract:

payout policy, asymmetric information, under-investment, finance and growth

A Theory of Income Smoothing When Insiders Know More than Outsiders

NYU Working Paper No. 2451/31367
Number of pages: 58 Posted: 15 Dec 2011 Last Revised: 05 Sep 2014
Viral V. Acharya and Bart M. Lambrecht
New York University - Leonard N. Stern School of Business and University of Cambridge - Judge Business School
Downloads 224 (112,057)
Citation 3

Abstract:

payout policy, asymmetric information, under-investment, finance and growth

A Theory of Income Smoothing When Insiders Know More than Outsiders

Number of pages: 51 Posted: 16 Mar 2012
Viral V. Acharya and Bart M. Lambrecht
New York University - Leonard N. Stern School of Business and University of Cambridge - Judge Business School
Downloads 160 (153,879)
Citation 3

Abstract:

payout policy, asymmetric information, under-investment, accounting quality, finance and growth

A Theory of Income Smoothing When Insiders Know More than Outsiders

NBER Working Paper No. w17696
Number of pages: 51 Posted: 25 Dec 2011
Viral V. Acharya and Bart M. Lambrecht
New York University - Leonard N. Stern School of Business and University of Cambridge - Judge Business School
Downloads 18 (470,726)
Citation 3

Abstract:

A Theory of Income Smoothing When Insiders Know More than Outsiders

CEPR Discussion Paper No. DP8729
Number of pages: 52 Posted: 20 Jan 2012
Viral V. Acharya and Bart M. Lambrecht
New York University - Leonard N. Stern School of Business and University of Cambridge - Judge Business School
Downloads 2 (561,088)
Citation 3

Abstract:

accounting quality, asymmetric information, measurement error, payout policy, under-investment

Cross-Country Variations in Capital Structures the Role of Bankruptcy Codes

AFA 2005 Philadelphia Meetings, Tuck Contemporary Corporate Finance Issues III Conference Paper
Number of pages: 46 Posted: 21 May 2004 Last Revised: 08 Jan 2009
Viral V. Acharya, Rangarajan K. Sundaram and Kose John
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 886 (20,129)
Citation 25

Abstract:

Capital structure, bankruptcy, financial distress, asset specificity, bankruptcy code, bankruptcy costs

Cross-Country Variations in Capital Structures: The Role of Bankruptcy Codes

Journal of Financial Intermediation, Forthcoming
Number of pages: 43 Posted: 29 Nov 2009 Last Revised: 27 Jan 2010
Viral V. Acharya, Rangarajan K. Sundaram and Kose John
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 132 (180,865)
Citation 25

Abstract:

Cross-Country Variations in Capital Structures: The Role of Bankruptcy Codes

CEPR Discussion Paper No. 4916
Number of pages: 47 Posted: 15 Jun 2005
Viral V. Acharya, Kose John and Rangarajan K. Sundaram
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 34 (388,324)
Citation 25

Abstract:

Leverage, bankruptcy costs, asset-specificity, intangibles, financial distress

Liquidity Risk of Corporate Bond Returns: A Conditional Approach

Journal of Financial Economics (JFE), Forthcoming, AFA 2012 Chicago Meetings Paper
Number of pages: 73 Posted: 20 May 2010 Last Revised: 26 Oct 2012
Viral V. Acharya, Yakov Amihud and Sreedhar T. Bharath
New York University - Leonard N. Stern School of Business, New York University - Stern School of Business and Arizona State University - W.P. Carey School of Business
Downloads 890 (19,994)
Citation 18

Abstract:

Credit Risk, Credit Spreads, Default, Recession, Flight To Liquidity, Liquidity Risk, Regime Switching Model

Liquidity Risk of Corporate Bond Returns: A Conditional Approach

NBER Working Paper No. w16394
Number of pages: 76 Posted: 27 Sep 2010
Viral V. Acharya, Yakov Amihud and Sreedhar T. Bharath
New York University - Leonard N. Stern School of Business, New York University - Stern School of Business and Arizona State University - W.P. Carey School of Business
Downloads 43 (354,722)
Citation 18

Abstract:

25.
Downloads 914 ( 19,592)
Citation 63

Rollover Risk and Market Freezes

EFA 2009 Bergen Meetings Paper
Number of pages: 60 Posted: 11 Jan 2009 Last Revised: 09 Aug 2010
Viral V. Acharya, Douglas M. Gale and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Economics and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 639 (32,073)
Citation 63

Abstract:

financial crisis, credit risk, liquidation cost, repo, secured borrowing, asset-backed commercial paper.

Rollover Risk and Market Freezes

NYU Working Paper No. FIN-08-030
Number of pages: 60 Posted: 09 Mar 2009 Last Revised: 09 Aug 2010
Viral V. Acharya, Douglas M. Gale and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Economics and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 210 (119,514)
Citation 63

Abstract:

financial crisis, credit risk, liquidation cost, repo, secured borrowing, asset-backed commercial paper.

Rollover Risk and Market Freezes

NBER Working Paper No. w15674
Number of pages: 44 Posted: 25 Jan 2010
Viral V. Acharya, Douglas M. Gale and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Economics and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 60 (303,514)
Citation 63

Abstract:

Rollover Risk and Market Freezes

CEPR Discussion Paper No. DP7122
Number of pages: 56 Posted: 18 Feb 2009
Viral V. Acharya, Douglas M. Gale and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Economics and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 5 (542,945)
Citation 63

Abstract:

asset-backed commercial paper, credit risk, haircut, liquidation cost, repo, secured borrowing

26.
Downloads 909 ( 19,735)
Citation 29

Crisis Resolution and Bank Liquidity

AFA 2009 San Francisco Meetings Paper
Number of pages: 50 Posted: 25 Mar 2008 Last Revised: 11 Nov 2010
Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 291 (84,856)
Citation 29

Abstract:

Cash, Cash holdings, Crises, Systemic risk, Distress, Liquidation cost, Limited pledgeability

Crisis Resolution and Bank Liquidity

Review of Financial Studies, Forthcoming
Number of pages: 66 Posted: 22 Jan 2010
Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 286 (86,556)
Citation 25

Abstract:

Cash, Cash holdings, Hoarding, Systemic risk, Fire sales

Crisis Resolution and Bank Liquidity

Number of pages: 50 Posted: 08 May 2007 Last Revised: 11 Nov 2010
Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 174 (142,790)
Citation 29

Abstract:

Crises, Systemic risk, Distress, Liquidation cost, Limited pledgeability

Crisis Resolution and Bank Liquidity

NYU Working Paper No. 2451/29540
Number of pages: 66 Posted: 09 Mar 2009 Last Revised: 10 Sep 2013
Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 111 (206,693)
Citation 29

Abstract:

Crisis Resolution and Bank Liquidity

NBER Working Paper No. w15567
Number of pages: 50 Posted: 08 Dec 2009
Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 47 (341,536)
Citation 25

Abstract:

Imperfect Competition in the Interbank Market for Liquidity as a Rationale for Central Banking

Number of pages: 42 Posted: 29 Sep 2008 Last Revised: 01 Oct 2015
Viral V. Acharya, Denis Gromb and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, London Business School and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 545 (39,670)
Citation 30

Abstract:

Competition, Interbank lending, Market power, Asset specificity, Central bank, Lender of last resort

Imperfect Competition in the Interbank Market for Liquidity as a Rationale for Central Banking

INSEAD Working Paper No. 2011/41/FIN
Number of pages: 53 Posted: 25 Mar 2011
Viral V. Acharya, Denis Gromb and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, INSEAD and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 338 (71,532)
Citation 30

Abstract:

Competition, Interbank Lending, Market Power, Asset Specificity, Central Bank, Lender of Last Resort

Imperfect Competition in the Interbank Market for Liquidity as a Rationale for Central Banking

NYU Working Paper No. 2451/29539
Number of pages: 42 Posted: 26 Jun 2013
Viral V. Acharya, Denis Gromb and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, INSEAD and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 11 (511,275)
Citation 30

Abstract:

Costly Financing, Optimal Payout Policies and the Valuation of Corporate Debt

EFA 0274
Number of pages: 46 Posted: 30 Mar 2000
New York University - Leonard N. Stern School of Business, Pennsylvania State University - University Park - Department of Finance, New York University - Stern School of Business and New York University (NYU) - Department of Finance
Downloads 773 (24,601)
Citation 5

Abstract:

Costly Financing, Optimal Payout Policies and the Valuation of Corporate Debt

NYU Working Paper No. FIN-99-048
Number of pages: 46 Posted: 11 Nov 2008
New York University - Leonard N. Stern School of Business, Pennsylvania State University - University Park - Department of Finance, New York University - Stern School of Business and New York University (NYU) - Department of Finance
Downloads 71 (277,010)
Citation 5

Abstract:

Costly Financing, Optimal Payout Policies and the Valuation of Corporate Debt

NYU Working Paper No. FIN-01-043
Number of pages: 46 Posted: 03 Nov 2008
New York University - Leonard N. Stern School of Business, Pennsylvania State University - University Park - Department of Finance, New York University - Stern School of Business and New York University (NYU) - Department of Finance
Downloads 40 (365,164)
Citation 5

Abstract:

Falling Short of Expectations? Stress-Testing the European Banking System

Number of pages: 25 Posted: 23 Dec 2013
Viral V. Acharya and Sascha Steffen
New York University - Leonard N. Stern School of Business and University of Mannheim - Business School
Downloads 713 (27,576)
Citation 1

Abstract:

AQR, stress tests, banking union, bail-out

Falling Short of Expectations? Stress-Testing the European Banking System

CEPS Policy Brief No. 315
Number of pages: 21 Posted: 21 Jan 2014
Viral V. Acharya and Sascha Steffen
New York University - Leonard N. Stern School of Business and University of Mannheim - Business School
Downloads 168 (147,396)
Citation 1

Abstract:

ECB, Asset Quality Review, AQR, European banks, European Banking System

Real Effects of the Sovereign Debt Crisis in Europe: Evidence from Syndicated Loans

Number of pages: 77 Posted: 01 Jun 2015 Last Revised: 08 Apr 2016
New York University - Leonard N. Stern School of Business, Erasmus University Rotterdam (EUR), IESE Business School and University of Frankfurt
Downloads 867 (20,799)

Abstract:

Real Effects of the Sovereign Debt Crisis in Europe: Evidence from Syndicated Loans

CEPR Discussion Paper No. DP10108
Number of pages: 60 Posted: 25 Sep 2014
New York University - Leonard N. Stern School of Business, Erasmus University Rotterdam (EUR), IESE Business School and University of Frankfurt
Downloads 1 (571,894)

Abstract:

credit contraction, European sovereign debt crisis, financing constraints, real effects

31.

The 'Greatest' Carry Trade Ever? Understanding Eurozone Bank Risks

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 51 Posted: 29 Apr 2013 Last Revised: 30 Sep 2015
Viral V. Acharya and Sascha Steffen
New York University - Leonard N. Stern School of Business and University of Mannheim - Business School
Downloads 837 (22,267)
Citation 7

Abstract:

Sovereign debt crisis, banking crisis, risk-shifting, regulatory arbitrage, home bias

Liquidity Risk and Correlation Risk: A Clinical Study of the General Motors and Ford Downgrade of May 2005

Number of pages: 66 Posted: 05 Mar 2008 Last Revised: 29 Sep 2008
Viral V. Acharya, Stephen M. Schaefer and Yili Zhang
New York University - Leonard N. Stern School of Business, London Business School - Institute of Finance and Accounting and London Business School
Downloads 830 (22,195)
Citation 21

Abstract:

market liquidity, funding liquidity, excess co-movement, inventory risk, financial crises

Liquidity Risk and Correlation Risk: A Clinical Study of the General Motors and Ford Downgrade of May 2005

CEPR Discussion Paper No. DP6619
Number of pages: 59 Posted: 09 Jun 2008
Viral V. Acharya, Stephen M. Schaefer and Yili Zhang
New York University - Leonard N. Stern School of Business, London Business School - Institute of Finance and Accounting and London Business School
Downloads 2 (561,088)
Citation 21

Abstract:

excess co-movement, financial crises, funding liquidity, inventory risk, market liquidity

33.
Downloads 805 ( 23,584)
Citation 54

Leverage, Moral Hazard and Liquidity

Journal of Finance, Forthcoming
Number of pages: 45 Posted: 17 Dec 2007 Last Revised: 05 Mar 2010
Viral V. Acharya and S. Viswanathan
New York University - Leonard N. Stern School of Business and Duke University - Fuqua School of Business
Downloads 505 (43,776)
Citation 54

Abstract:

risk-shifting, credit rationing, market liquidity, funding liquidity, fire sales, financial crises, cash-in-the-market pricing

Leverage, Moral Hazard and Liquidity

NYU Working Paper No. 2451/29544
Number of pages: 51 Posted: 08 Feb 2010 Last Revised: 10 Sep 2013
Viral V. Acharya and S. Viswanathan
New York University - Leonard N. Stern School of Business and Duke University - Fuqua School of Business
Downloads 250 (100,110)
Citation 54

Abstract:

Leverage, Moral Hazard and Liquidity

NBER Working Paper No. w15837
Number of pages: 46 Posted: 29 Mar 2010
Viral V. Acharya and S. Viswanathan
New York University - Leonard N. Stern School of Business and Duke University - Fuqua School of Business
Downloads 50 (332,176)
Citation 54

Abstract:

The Seeds of a Crisis: A Theory of Bank Liquidity and Risk-Taking Over the Business Cycle

Journal of Financial Economics (JFE), Volume 106, Issue 2, November 2012, Pages 349-366, AFA 2011 Denver Meetings Paper
Number of pages: 60 Posted: 17 Mar 2009 Last Revised: 01 Oct 2012
Viral V. Acharya and Hassan Naqvi
New York University - Leonard N. Stern School of Business and SKK Graduate School of Business
Downloads 639 (32,073)
Citation 4

Abstract:

Bubbles, Flight to quality, Moral hazard

The Seeds of a Crisis: A Theory of Bank Liquidity and Risk-Taking Over the Business Cycle

NYU Working Paper No. 2451/29886
Number of pages: 60 Posted: 06 Dec 2010
Viral V. Acharya and Hassan Naqvi
New York University - Leonard N. Stern School of Business and SKK Graduate School of Business
Downloads 154 (159,050)
Citation 4

Abstract:

The Seeds of a Crisis: A Theory of Bank Liquidity and Risk-Taking Over the Business Cycle

CEPR Discussion Paper No. DP8851
Number of pages: 52 Posted: 01 Mar 2012
Viral V. Acharya and Hassan Naqvi
New York University - Leonard N. Stern School of Business and SKK Graduate School of Business
Downloads 3 (553,413)
Citation 4

Abstract:

bubbles, flight to quality, moral hazard

Private Equity vs. PLC Boards in the U.K.: A Comparison of Practices and Effectiveness

ECGI - Finance Working Paper No. 233/2009
Number of pages: 25 Posted: 08 Jan 2009 Last Revised: 30 Mar 2009
Viral V. Acharya, Conor Kehoe and Michael Reyner
New York University - Leonard N. Stern School of Business, McKinsey & Company, Inc. and MWM Consulting
Downloads 669 (30,133)
Citation 10

Abstract:

corporate governance, leveraged buyouts (LBO), management buyouts (MBO), active ownership

Private Equity Vs. PLC Boards in the U.K.: A Comparison of Practices and Effectiveness

Journal of Applied Corporate Finance, Vol. 21, Issue 1, pp. 45-56, Winter 2009
Number of pages: 14 Posted: 19 May 2009
Viral V. Acharya, Conor Kehoe and Michael Reyner
New York University - Leonard N. Stern School of Business, McKinsey & Company, Inc. and MWM Consulting
Downloads 2 (561,088)
Citation 10

Abstract:

More Insiders, More Insider Trading: Evidence from Private Equity Buyouts

Number of pages: 57 Posted: 14 Dec 2007 Last Revised: 01 Dec 2009
Viral V. Acharya and Timothy C. Johnson
New York University - Leonard N. Stern School of Business and London Business School
Downloads 475 (47,317)
Citation 14

Abstract:

asymmetric information, LBO, private equity, regulation

More Insiders, More Insider Trading: Evidence from Private Equity Buyouts

Journal of Financial Economics, Forthcoming
Number of pages: 57 Posted: 29 Nov 2009
Viral V. Acharya and Timothy C. Johnson
New York University - Leonard N. Stern School of Business and University of Illinois at Urbana-Champaign
Downloads 137 (175,514)
Citation 14

Abstract:

asymmetric information, LBO, private equity, regulation

More Insiders, More Insider Trading: Evidence from Private Equity Buyouts

CEPR Discussion Paper No. DP6622
Number of pages: 54 Posted: 05 Jun 2008
Viral V. Acharya and Timothy C. Johnson
New York University - Leonard N. Stern School of Business and University of Illinois at Urbana-Champaign
Downloads 3 (553,413)
Citation 14

Abstract:

asymmetric information, LBO, private equity, regulation

Whatever It Takes: The Real Effects of Unconventional Monetary Policy

Number of pages: 79 Posted: 02 Mar 2016 Last Revised: 09 May 2017
New York University - Leonard N. Stern School of Business, Erasmus University Rotterdam (EUR), IESE Business School and University of Frankfurt
Downloads 603 (34,675)

Abstract:

Unconventional Monetary Policy, Real Effects, Zombie Lending

Whatever it Takes: The Real Effects of Unconventional Monetary Policy

CEPR Discussion Paper No. DP12005
Number of pages: 83 Posted: 02 May 2017
New York University - Leonard N. Stern School of Business, Erasmus University Rotterdam (EUR), IESE Business School and University of Frankfurt
Downloads 0

Abstract:

Whatever It Takes: The Real Effects of Unconventional Monetary Policy

SAFE Working Paper No. 152
Posted: 25 Oct 2016 Last Revised: 08 May 2017
New York University - Leonard N. Stern School of Business, Erasmus University Rotterdam (EUR), IESE Business School and University of Frankfurt

Abstract:

Unconventional Monetary Policy, Real Effects, Zombie Lending

38.

Market Failures and Regulatory Failures: Lessons from Past and Present Financial Crises

ADBI Working Paper No. 264
Number of pages: 41 Posted: 08 Feb 2011
New York University - Leonard N. Stern School of Business, New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University - Leonard N. Stern School of Business
Downloads 591 (27,508)
Citation 1

Abstract:

global financial crisis, LTCM, market failures, regulation, emerging markets

A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk

Journal of Finance, Forthcoming
Number of pages: 69 Posted: 19 Jun 2011 Last Revised: 01 Oct 2015
Viral V. Acharya, Itamar Drechsler and Philipp Schnabl
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 521 (42,043)
Citation 39

Abstract:

Financial Crises, Sovereign Debt, Credit Default Swaps

A Pyrrhic Victory? - Bank Bailouts and Sovereign Credit Risk

NBER Working Paper No. w17136
Number of pages: 59 Posted: 20 Jun 2011
Viral V. Acharya, Itamar Drechsler and Philipp Schnabl
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 32 (396,621)
Citation 39

Abstract:

A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk

NYU Working Paper No. 2451/31331
Number of pages: 59 Posted: 26 Jun 2013
Viral V. Acharya, Itamar Drechsler and Philipp Schnabl
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 23 (441,848)
Citation 39

Abstract:

A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk

CEPR Discussion Paper No. DP8679
Number of pages: 62 Posted: 22 Dec 2011
Viral V. Acharya, Itamar Drechsler and Philipp Schnabl
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 9 (522,210)
Citation 39

Abstract:

credit default swaps, deleveraging, financial crises, forbearance, growth, sovereign debt

Corporate Bond Valuation and Hedging with Stochastic Interest Rates and Endogenous Bankruptcy

New York University, Stern School of Business Working Paper
Number of pages: 45 Posted: 28 Jul 2001
Jennifer N. Carpenter and Viral V. Acharya
New York University (NYU) - Department of Finance and New York University - Leonard N. Stern School of Business
Downloads 538 (40,317)
Citation 35

Abstract:

corporate bond, stochastic interest rates, endogenous bankruptcy, optimal exercise boundary, hedging, duration

Corporate Bond Valuation and Hedging with Stochastic Interest Rates and Endogenous Bankruptcy

CEPR Discussion Paper No. 3328
Number of pages: 46 Posted: 21 May 2002
Jennifer N. Carpenter and Viral V. Acharya
New York University (NYU) - Department of Finance and New York University - Leonard N. Stern School of Business
Downloads 28 (415,025)
Citation 35

Abstract:

Corporate bonds, call, default, stochastic interest rates, endogenous bankruptcy, optimal exercise boundary, hedging, duration

Information Contagion and Inter-Bank Correlation in a Theory of Systemic Risk

London Business School Working Paper
Number of pages: 49 Posted: 30 Jan 2003
Viral V. Acharya and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 519 (42,288)
Citation 3

Abstract:

Systemic risk, Contagion, Herding, Procyclicality, Information spillover, Inter-bank correlation

Information Contagion and Inter-Bank Correlation in a Theory of Systemic Risk

CEPR Discussion Paper No. 3743
Number of pages: 51 Posted: 05 Mar 2003
Viral V. Acharya and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 35 (384,248)
Citation 3

Abstract:

Systemic risk, contagion, herding, procyclicality, information spillover, interbank correlation

Is the International Convergence of Capital Adequacy Regulation Desirable?

Number of pages: 53 Posted: 09 May 2000
Viral V. Acharya
New York University - Leonard N. Stern School of Business
Downloads 503 (43,991)
Citation 28

Abstract:

Bank capital, Capital adequacy regulation, Closure policy, Harmonization, International competition, Regulatory capture

Is the International Convergence of Capital Adequacy Regulation Desirable?

CEPR Discussion Paper No. 3253
Number of pages: 41 Posted: 09 Apr 2002
Viral V. Acharya
New York University - Leonard N. Stern School of Business
Downloads 30 (405,556)
Citation 28

Abstract:

Bank regulation, capital adequacy, closure policy, risk-shifting, financial integration, international spillovers

The Effects of Focus and Diversification on Bank Risk and Return: Evidence from Individual Bank Loan Portfolios

NYU Working Paper No. FIN-01-060
Number of pages: 25 Posted: 03 Nov 2008
Viral V. Acharya, Iftekhar Hasan and Anthony Saunders
New York University - Leonard N. Stern School of Business, Gabelli School of Business, Fordham University and New York University - Leonard N. Stern School of Business
Downloads 378 (62,670)
Citation 17

Abstract:

Banking, Focus, Diversification, Monitoring, Bank risk, Bank return

The Effects of Focus and Diversification on Bank Risk and Return: Evidence from Individual Bank Loan Portfolios

NYU Working Paper No. S-FI-01-11
Number of pages: 25 Posted: 11 Nov 2008
Viral V. Acharya, Iftekhar Hasan and Anthony Saunders
New York University - Leonard N. Stern School of Business, Gabelli School of Business, Fordham University and New York University - Leonard N. Stern School of Business
Downloads 99 (224,514)
Citation 17

Abstract:

The Effects of Focus and Diversification on Bank Risk and Return: Evidence from Individual Bank Loan Portfolios

CEPR Discussion Paper No. 3252
Number of pages: 49 Posted: 16 Apr 2002
Viral V. Acharya, Anthony Saunders and Iftekhar Hasan
New York University - Leonard N. Stern School of Business, New York University - Leonard N. Stern School of Business and Gabelli School of Business, Fordham University
Downloads 52 (325,988)
Citation 18

Abstract:

Focus, diversification, monitoring, bank risk, bank return

44.
Downloads 522 ( 42,475)
Citation 25

Labor Laws and Innovation

Number of pages: 46 Posted: 27 Jan 2009 Last Revised: 22 Dec 2013
Viral V. Acharya, Ramin Baghai and Krishnamurthy Subramanian
New York University - Leonard N. Stern School of Business, Stockholm School of Economics and Indian School of Business (ISB), Hyderabad
Downloads 391 (60,193)
Citation 25

Abstract:

Labor laws, R&D, Technological change, Law and finance, Entrepreneurship, Growth

Labor Laws and Innovation

NYU Working Paper No. FIN-08-034
Number of pages: 46 Posted: 09 Mar 2009 Last Revised: 22 Dec 2013
Viral V. Acharya, Ramin Baghai and Krishnamurthy Subramanian
New York University - Leonard N. Stern School of Business, Stockholm School of Economics and Indian School of Business (ISB), Hyderabad
Downloads 97 (227,654)
Citation 25

Abstract:

Labor laws, R&D, Technological change, Law and nance, Entrepreneurship, Growth

Labor Laws and Innovation

NBER Working Paper No. w16484
Number of pages: 64 Posted: 25 Oct 2010
Viral V. Acharya, Ramin Baghai and Krishnamurthy Subramanian
New York University - Leonard N. Stern School of Business, Stockholm School of Economics and Indian School of Business (ISB), Hyderabad
Downloads 30 (405,556)
Citation 25

Abstract:

Labor Laws and Innovation

CEPR Discussion Paper No. DP7171
Number of pages: 49 Posted: 18 Feb 2009
Viral V. Acharya, Ramin Baghai and Krishnamurthy Subramanian
New York University - Leonard N. Stern School of Business, Stockholm School of Economics and Indian School of Business (ISB), Hyderabad
Downloads 4 (547,924)
Citation 25

Abstract:

Entrepreneurship, Growth, Labor laws, Law and finance, R&D, Technological change

Too Many to Fail - An Analysis of Time-Inconsistency in Bank Closure Policies

Bank of England Working Paper No. 319, London Business School IFA Working Paper
Number of pages: 54 Posted: 05 Mar 2005
Viral V. Acharya and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 490 (45,470)
Citation 72

Abstract:

Bank regulation, systemic risk, bailout, moral hazard, herding, too big to fail

Too Many to Fail - An Analysis of Time Inconsistency in Bank Closure Policies

CEPR Discussion Paper No. 4778
Number of pages: 32 Posted: 06 Mar 2005
Viral V. Acharya and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 23 (441,848)
Citation 72

Abstract:

Bank regulation, systemic risk, bailout, moral hazard, herding

Too Many to Fail - An Analysis of Time-Inconsistency in Bank Closure Policies

Journal of Financial Intermediation, Forthcoming
Posted: 22 Aug 2006
Viral V. Acharya and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business and University of Amsterdam - Faculty of Economics and Business (FEB)

Abstract:

Bank regulation, systemic risk, bailout, moral hazard, herding, too big to fail

Counterparty Risk Externality: Centralized Versus Over-The-Counter Markets

Number of pages: 48 Posted: 22 Mar 2010 Last Revised: 09 Aug 2010
Viral V. Acharya and Alberto Bisin
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Economics
Downloads 402 (58,220)
Citation 13

Abstract:

OTC markets, leverage, counterparty risk, externality, transparency, centralized clearing, exchange

Counterparty Risk Externality: Centralized Versus Over-the-Counter Markets

Number of pages: 50 Posted: 21 Mar 2011
Alberto Bisin and Viral V. Acharya
New York University (NYU) - Department of Economics and New York University - Leonard N. Stern School of Business
Downloads 79 (260,027)
Citation 13

Abstract:

OTC markets, leverage, counterparty risk, externality, transparency, centralized clearing, exchange, collateral, margin

Counterparty Risk Externality: Centralized Versus Over-the-Counter Markets

NBER Working Paper No. w17000
Number of pages: 53 Posted: 02 May 2011
Viral V. Acharya and Alberto Bisin
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Economics
Downloads 23 (441,848)
Citation 13

Abstract:

Caught between Scylla and Charybdis? Regulating Bank Leverage When There is Rent Seeking and Risk Shifting

AFA 2012 Chicago Meetings Paper, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 365/2013
Number of pages: 54 Posted: 15 Mar 2011 Last Revised: 09 Oct 2015
Viral V. Acharya, Hamid Mehran and Anjan V. Thakor
New York University - Leonard N. Stern School of Business, Independent and Washington University, Saint Louis - John M. Olin School of Business
Downloads 388 (60,755)
Citation 20

Abstract:

market discipline, asset substitution, systemic risk, bailout, forbearance, moral hazard, capital requirements

Caught between Scylla and Charybdis? Regulating Bank Leverage When There is Rent-Seeking and Risk-Shifting

FRB of Cleveland Working Paper No. 10-24
Number of pages: 48 Posted: 16 Dec 2010 Last Revised: 18 Sep 2015
Viral V. Acharya, Hamid Mehran and Anjan V. Thakor
New York University - Leonard N. Stern School of Business, Independent and Washington University, Saint Louis - John M. Olin School of Business
Downloads 105 (215,314)
Citation 20

Abstract:

Market Discipline, Asset Substitution, Systemic Risk, Bailout, Forbearance, Moral Hazard, Capital Requirements

Caught between Scylla and Charybdis? Regulating Bank Leverage When There is Rent-Seeking and Risk-Shifting

CEPR Discussion Paper No. DP8822
Number of pages: 59 Posted: 01 Mar 2012
Viral V. Acharya, Hamid Mehran and Anjan V. Thakor
New York University - Leonard N. Stern School of Business, Independent and Washington University, Saint Louis - John M. Olin School of Business
Downloads 10 (516,767)
Citation 20

Abstract:

asset substitution, bailout, market discipline, systemic risk

48.

Analyzing Systemic Risk of the European Banking Sector

Handbook on Systemic Risk, J.P. Fouque and J. Langsam, eds., Cambridge University Press, Forthcoming
Number of pages: 37 Posted: 23 Sep 2012
Viral V. Acharya and Sascha Steffen
New York University - Leonard N. Stern School of Business and University of Mannheim - Business School
Downloads 482 (30,885)
Citation 2

Abstract:

Banks, Systemic risk, Europe

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 398/2014, AFA 2012 Chicago Meetings Paper
Number of pages: 51 Posted: 19 Mar 2011 Last Revised: 18 May 2016
Viral V. Acharya, Marco Pagano and Paolo F. Volpin
New York University - Leonard N. Stern School of Business, University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 352 (68,195)
Citation 5

Abstract:

managerial talent, project allocation, insurance, mobility, turnover

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

NYU Working Paper No. 2451/31368
Number of pages: 51 Posted: 15 Dec 2011 Last Revised: 18 May 2016
Viral V. Acharya, Marco Pagano and Paolo F. Volpin
New York University - Leonard N. Stern School of Business, University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 113 (203,969)
Citation 5

Abstract:

managerial talent, alpha, risk taking, mobility, managerial labor market, competition, poaching

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

NBER Working Paper No. w18891
Number of pages: 49 Posted: 17 Mar 2013
Viral V. Acharya, Marco Pagano and Paolo F. Volpin
New York University - Leonard N. Stern School of Business, University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 5 (542,945)
Citation 5

Abstract:

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

CEPR Discussion Paper No. DP8905
Number of pages: 42 Posted: 04 Apr 2012
Viral V. Acharya, Marco Pagano and Paolo F. Volpin
New York University - Leonard N. Stern School of Business, University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 4 (547,924)
Citation 5

Abstract:

executive compensation, managerial talent, managerial turnover, short-termism

50.
Downloads 468 ( 48,771)
Citation 15

Systemic Risk and Deposit Insurance Premiums

Economic Policy Review, Forthcoming
Number of pages: 11 Posted: 31 Oct 2009
Viral V. Acharya, João A. C. Santos and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Federal Reserve Bank of New York and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 344 (70,084)
Citation 15

Abstract:

Systemic Risk and Deposit Insurance Premiums

Economic Policy Review, Vol. 16, No. 1, p. 89, August 2010
Number of pages: 11 Posted: 17 Sep 2010
Viral V. Acharya, Tanju Yorulmazer and João A. C. Santos
New York University - Leonard N. Stern School of Business, University of Amsterdam - Faculty of Economics and Business (FEB) and Federal Reserve Bank of New York
Downloads 124 (190,029)
Citation 15

Abstract:

Financial Crisis, Too-Big-to-Fail, Fire Sales, FDIC, Time-Inconsistency, Too-Many-to-Fail

Cash-in-The-Market Pricing and Optimal Resolution of Bank Failures

EFA 2006 Zurich Meetings, Bank of England Working Paper No. 328
Number of pages: 67 Posted: 17 Mar 2005
Viral V. Acharya and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 468 (48,213)
Citation 46

Abstract:

Bailouts, Systemic risk, Banking crises, Lender of last resort, Too many to fail, Time inconsistency, Herding

Cash-in-The-Market Pricing and Optimal Resolution of Bank Failures

The Review of Financial Studies, Vol. 21, Issue 6, pp. 2705-2742, 2008
Posted: 15 Dec 2008
Viral V. Acharya and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business and University of Amsterdam - Faculty of Economics and Business (FEB)

Abstract:

G21, G28, G38, E58, D62

Credit Lines as Monitored Liquidity Insurance: Theory and Evidence

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 61 Posted: 21 Mar 2012 Last Revised: 15 Apr 2013
New York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign, Universitat Pompeu Fabra - Faculty of Economic and Business Sciences and Federal Reserve Board
Downloads 427 (54,032)
Citation 6

Abstract:

Liquidity management, cash holdings, liquidity risk, hedging, covenants, loan commitments, credit line revocation

Credit Lines as Monitored Liquidity Insurance: Theory and Evidence

Number of pages: 65 Posted: 13 Jun 2012
Universitat Pompeu Fabra - Faculty of Economic and Business Sciences, New York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Federal Reserve Board
Downloads 33 (392,407)
Citation 6

Abstract:

Liquidity management, cash holdings, liquidity risk, hedging, covenants, loan commitments, credit line revocation

Credit Lines as Monitored Liquidity Insurance: Theory and Evidence

NBER Working Paper No. w18892
Number of pages: 62 Posted: 15 Mar 2013
New York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign, Universitat Pompeu Fabra - Faculty of Economic and Business Sciences and Federal Reserve Board
Downloads 1 (571,894)
Citation 6

Abstract:

53.
Downloads 449 ( 51,355)
Citation 15

Fire-Sale FDI

AFA 2008 New Orleans Meetings Paper, EFA 2008 Athens Meetings Paper
Number of pages: 45 Posted: 20 Mar 2007 Last Revised: 11 Nov 2010
Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 314 (77,845)
Citation 15

Abstract:

Fire sales, Capital flight, FDI flows, Financial crises, Foreign takeovers

Fire-Sale FDI

NYU Working Paper No. 2451/29541
Number of pages: 53 Posted: 08 Feb 2010 Last Revised: 10 Sep 2013
Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 134 (178,654)
Citation 15

Abstract:

Fire-Sale FDI

CEPR Discussion Paper No. DP6319
Number of pages: 48 Posted: 27 May 2008
Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 1 (571,894)
Citation 15

Abstract:

capital flight, FDI flows, financial crises, fire sales, foreign takeovers

Testing Macroprudential Stress Tests: The Risk of Regulatory Risk Weights

Number of pages: 51 Posted: 04 Apr 2013 Last Revised: 01 Oct 2015
Viral V. Acharya, Robert F. Engle and Diane Pierret
New York University - Leonard N. Stern School of Business, New York University - Leonard N. Stern School of Business - Department of Economics and HEC - University of Lausanne
Downloads 429 (53,736)
Citation 3

Abstract:

macroprudential regulation, stress test, systemic risk, risk-weighted assets

Testing Macroprudential Stress Tests: The Risk of Regulatory Risk Weights

NBER Working Paper No. w18968
Number of pages: 45 Posted: 20 Apr 2013
Viral V. Acharya, Robert F. Engle and Diane Pierret
New York University - Leonard N. Stern School of Business, New York University - Leonard N. Stern School of Business - Department of Economics and HEC - University of Lausanne
Downloads 13 (499,647)
Citation 3

Abstract:

Testing Macroprudential Stress Tests: The Risk of Regulatory Risk Weights

CEPR Discussion Paper No. DP9431
Number of pages: 48 Posted: 16 Apr 2013
Viral V. Acharya, Robert F. Engle and Diane Pierret
New York University - Leonard N. Stern School of Business, New York University - Leonard N. Stern School of Business - Department of Economics and HEC - University of Lausanne
Downloads 2 (561,088)
Citation 3

Abstract:

macroprudential regulation, risk-weighted assets, stress test, systemic risk

Testing Macroprudential Stress Tests: The Risk of Regulatory Risk Weights

CEPR Discussion Paper No. DP9800
Number of pages: 51 Posted: 02 Jun 2014
Viral V. Acharya, Robert F. Engle and Diane Pierret
New York University - Leonard N. Stern School of Business, New York University - Leonard N. Stern School of Business - Department of Economics and HEC - University of Lausanne
Downloads 2 (561,088)
Citation 3

Abstract:

macroprudential regulation, risk-weighted assets, stress test, systemic risk

Banks’ Financial Reporting and Financial System Stability

Journal of Accounting Research, Forthcoming
Number of pages: 96 Posted: 03 Feb 2016
Viral V. Acharya and Stephen G. Ryan
New York University - Leonard N. Stern School of Business and New York University (NYU) - Leonard N. Stern School of Business
Downloads 238 (105,363)

Abstract:

G01, G21, G28, M41, M48

Banks’ Financial Reporting and Financial System Stability

Number of pages: 121 Posted: 16 Dec 2015
Viral V. Acharya and Stephen G. Ryan
New York University - Leonard N. Stern School of Business and New York University (NYU) - Leonard N. Stern School of Business
Downloads 201 (124,704)

Abstract:

financial reporting, financial system stability, banks, fair value accounting

Banks’ Financial Reporting and Financial System Stability

Journal of Accounting Research, Vol. 54, No. 2, 2016
Posted: 24 Jun 2016
Viral V. Acharya and Stephen G. Ryan
New York University - Leonard N. Stern School of Business and New York University (NYU) - Leonard N. Stern School of Business

Abstract:

banks; financial reporting; financial system;stability; opacity; provision for loan losses; fair value accounting; amortized cost accounting

Endogenous Information Flows and the Clustering of Announcements

Rock Center for Corporate Governance Working Paper No. 17
Number of pages: 42 Posted: 29 Sep 2008 Last Revised: 29 Sep 2009
Viral V. Acharya, Peter M. DeMarzo and Ilan Kremer
New York University - Leonard N. Stern School of Business, Stanford Graduate School of Business and Independent
Downloads 342 (70,571)
Citation 14

Abstract:

disclosure, disclosure dynamics, strategic disclosure, disclosure timing, earnings announcement, stochastic volatility, skewness

Endogenous Information Flows and the Clustering of Announcements

NYU Working Paper No. FIN-08-028
Number of pages: 42 Posted: 09 Mar 2009
Viral V. Acharya, Peter M. DeMarzo and Ilan Kremer
New York University - Leonard N. Stern School of Business, Stanford Graduate School of Business and Independent
Downloads 59 (306,133)
Citation 14

Abstract:

Endogenous Information Flows and the Clustering of Announcements

NBER Working Paper No. w16485
Number of pages: 36 Posted: 25 Oct 2010
Viral V. Acharya, Peter M. DeMarzo and Ilan Kremer
New York University - Leonard N. Stern School of Business, Stanford Graduate School of Business and University of Warwick
Downloads 24 (436,122)
Citation 14

Abstract:

Endogenous Information Flows and the Clustering of Announcements

CEPR Discussion Paper No. DP6985
Number of pages: 44 Posted: 02 Dec 2008
Viral V. Acharya, Peter M. DeMarzo and Ilan Kremer
New York University - Leonard N. Stern School of Business, Stanford Graduate School of Business and Independent
Downloads 6 (537,931)
Citation 14

Abstract:

disclosure, disclosure dynamics, disclosure timing, earnings announcement, skewness, stochastic volatility, strategic disclosure

Endogenous Information Flows and the Clustering of Announcements

CEPR Discussion Paper No. DP8680
Number of pages: 38 Posted: 22 Dec 2011
Viral V. Acharya, Peter M. DeMarzo and Ilan Kremer
New York University - Leonard N. Stern School of Business, Stanford Graduate School of Business and Independent
Downloads 6 (537,931)
Citation 14

Abstract:

disclosure dynamics, disclosure timing, disclosure,, earnings announcement, skewness, stochastic volatility, strategic disclosure

Financial Dependence and Innovation: The Case of Public versus Private Firms

Journal of Financial Economics (JFE), Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 400/2014
Number of pages: 59 Posted: 02 Dec 2013 Last Revised: 01 Oct 2015
Viral V. Acharya and Zhaoxia Xu
New York University - Leonard N. Stern School of Business and New York University (NYU) - NYU Tandon School of Engineering
Downloads 425 (54,369)

Abstract:

Private Firms, Public Firms, Innovation, R&D, Finance and Growth, Financial Constraints

Financial Dependence and Innovation: The Case of Public Versus Private Firms

NBER Working Paper No. w19708
Number of pages: 63 Posted: 10 Dec 2013
Viral V. Acharya and Zhaoxia Xu
New York University - Leonard N. Stern School of Business and New York University (NYU) - NYU Tandon School of Engineering
Downloads 6 (537,931)

Abstract:

Financial Dependence and Innovation: The Case of Public Versus Private Firms

CEPR Discussion Paper No. DP9829
Number of pages: 74 Posted: 02 Jun 2014 Last Revised: 04 Jun 2014
Viral V. Acharya and Zhaoxia Xu
New York University - Leonard N. Stern School of Business and New York University (NYU) - NYU Tandon School of Engineering
Downloads 0

Abstract:

finance and growth, financial constraints, innovation, private firms, public firms, R&D

58.
Downloads 421 ( 55,528)
Citation 11

Managerial Hedging, Equity Ownership and Firm Value

European Finance Association (EFA), EFA 2003 Glasgow, RAND Journal of Economics, Forthcoming
Number of pages: 50 Posted: 19 Jul 2003 Last Revised: 29 Sep 2008
Viral V. Acharya and Alberto Bisin
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Economics
Downloads 421 (54,986)
Citation 11

Abstract:

Incentive Compensation, Hedging, Aggregate Risk, Idiosyncratic Risk, Financial Innovation, Capital Asset Pricing Model (CAPM)

Managerial Hedging, Equity Ownership, and Firm Value

RAND Journal of Economics, Forthcoming
Posted: 08 Jan 2009
Viral V. Acharya and Alberto Bisin
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Economics

Abstract:

Managerial Compensation, Diversification, Aggregate Risk, Firm-specific Risk, Capital Asset Pricing Model (CAPM)

Finance and Efficiency: Do Bank Branching Regulations Matter?

Swiss Finance Institute Research Paper No. 06-36, EFA 2007 Ljubljana Meetings Paper
Number of pages: 56 Posted: 01 Dec 2006 Last Revised: 14 Mar 2012
Viral V. Acharya, Jean M. Imbs and Jason Sturgess
New York University - Leonard N. Stern School of Business, Paris School of Economics (PSE) and Queen Mary University of London
Downloads 312 (78,368)
Citation 9

Abstract:

Financial development, Growth, Sharpe ratio, Volatility, Diversification

Finance and Efficiency: Do Bank Branching Regulations Matter?

NYU Working Paper No. 2451/29542
Number of pages: 45 Posted: 08 Feb 2010
Viral V. Acharya, Jean M. Imbs and Jason Sturgess
New York University - Leonard N. Stern School of Business, Paris School of Economics (PSE) and Queen Mary University of London
Downloads 45 (347,988)
Citation 9

Abstract:

Finance and Efficiency: Do Bank Branching Regulations Matter?

Review of Finance, Forthcoming
Number of pages: 46 Posted: 14 May 2010
Viral V. Acharya, Jean M. Imbs and Jason Sturgess
New York University - Leonard N. Stern School of Business, Paris School of Economics (PSE) and Queen Mary University of London
Downloads 40 (365,164)
Citation 9

Abstract:

Financial Development, Growth, Volatility, Diversification, Deregulation, Liberalization, Mean-variance Efficiency

Finance and Efficiency: Do Bank Branching Regulations Matter?

CEPR Discussion Paper No. 6202
Number of pages: 66 Posted: 26 Jun 2007
Viral V. Acharya, Jean M. Imbs and Jason Sturgess
New York University - Leonard N. Stern School of Business, Paris School of Economics (PSE) and Queen Mary University of London
Downloads 4 (547,924)
Citation 9

Abstract:

Diversification, Financial development, Growth, Sharpe ratio, Volatility

Sovereign Debt, Government Myopia, and the Financial Sector

NYU Working Paper No. 2451/31365
Number of pages: 52 Posted: 15 Dec 2011 Last Revised: 10 Sep 2013
Viral V. Acharya and Raghuram G. Rajan
New York University - Leonard N. Stern School of Business and University of Chicago - Booth School of Business
Downloads 355 (67,506)
Citation 4

Abstract:

Sovereign Debt, Government Myopia, and the Financial Sector

NBER Working Paper No. w17542
Number of pages: 63 Posted: 29 Oct 2011
Viral V. Acharya and Raghuram G. Rajan
New York University - Leonard N. Stern School of Business and University of Chicago - Booth School of Business
Downloads 34 (388,324)
Citation 4

Abstract:

Sovereign Debt, Government Myopia, and the Financial Sector

CEPR Discussion Paper No. DP8668
Number of pages: 55 Posted: 24 Nov 2011
Viral V. Acharya and Raghuram G. Rajan
New York University - Leonard N. Stern School of Business and University of Chicago - Booth School of Business
Downloads 6 (537,931)
Citation 4

Abstract:

ability to pay, political economy, sovereign default, willingness to pay

61.

Limited Liability and Bank Herding

EFA 2004 MAASTRICHT
Number of pages: 43 Posted: 04 Nov 2003
Viral V. Acharya and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 395 (56,383)
Citation 3

Abstract:

Systemic risk, Contagion, Procyclicality, Information spillover, Inter-bank correlation

62.
Downloads 383 ( 62,329)
Citation 43

Bankruptcy Codes and Innovation

AFA 2008 New Orleans Meetings Paper
Number of pages: 55 Posted: 16 Mar 2007 Last Revised: 25 Oct 2014
Viral V. Acharya and Krishnamurthy Subramanian
New York University - Leonard N. Stern School of Business and Indian School of Business (ISB), Hyderabad
Downloads 381 (62,107)
Citation 43

Abstract:

Creditor rights, R&D, Technological change,Law and finance, Entrepreneurship, Growth, Financial development

Bankruptcy Codes and Innovation

CEPR Discussion Paper No. DP6307
Number of pages: 59 Posted: 23 May 2008
Viral V. Acharya and Krishnamurthy Subramanian
New York University - Leonard N. Stern School of Business and Indian School of Business (ISB), Hyderabad
Downloads 2 (561,088)
Citation 43

Abstract:

creditor rights, entrepreneurship, financial development, growth, law and finance, R&D, technological change

Bankruptcy Codes and Innovation

Posted: 08 Jan 2009
Viral V. Acharya and Krishnamurthy Subramanian
New York University - Leonard N. Stern School of Business and Indian School of Business (ISB), Hyderabad

Abstract:

Creditor rights, R&D, Technological change, Law and finance, Entrepreneurship, Growth, Financial development

Bankruptcy Codes and Innovation

The Review of Financial Studies, Vol. 22, Issue 12, pp. 4949-4988, 2009
Posted: 24 Nov 2009
Viral V. Acharya and Krishnamurthy Subramanian
New York University - Leonard N. Stern School of Business and Indian School of Business (ISB), Hyderabad

Abstract:

G3, K2, O3, O4, O5

63.
Downloads 326 ( 75,145)
Citation 17

Wrongful Discharge Laws and Innovation

Number of pages: 54 Posted: 16 Mar 2010 Last Revised: 13 Jan 2015
Viral V. Acharya, Krishnamurthy Subramanian and Ramin Baghai
New York University - Leonard N. Stern School of Business, Indian School of Business (ISB), Hyderabad and Stockholm School of Economics
Downloads 315 (77,557)
Citation 17

Abstract:

Dismissal laws, R&D, Technological change, Law and finance, Entrepreneurship, Growth, Creative destruction

Wrongful Discharge Laws and Innovation

NBER Working Paper No. w18516
Number of pages: 58 Posted: 03 Nov 2012
Viral V. Acharya, Ramin Baghai and Krishnamurthy Subramanian
New York University - Leonard N. Stern School of Business, Stockholm School of Economics and Indian School of Business (ISB), Hyderabad
Downloads 11 (511,275)
Citation 17

Abstract:

64.
Downloads 319 ( 76,994)
Citation 21

When Does Strategic Debt-Service Matter?

Number of pages: 45 Posted: 27 May 2002
New York University (NYU) - Department of Finance, New York University - Leonard N. Stern School of Business, Pennsylvania State University - University Park - Department of Finance and New York University - Stern School of Business
Downloads 250 (100,110)
Citation 21

Abstract:

strategic debt-service, interaction of optionalities, liquidity default, strategic default, cash-management

When Does Strategic Debt Service Matter?

NYU Working Paper No. FIN-02-013
Number of pages: 45 Posted: 03 Nov 2008
New York University - Leonard N. Stern School of Business, Pennsylvania State University - University Park - Department of Finance, New York University - Stern School of Business and New York University (NYU) - Department of Finance
Downloads 32 (396,621)
Citation 21

Abstract:

When Does Strategic Debt-Service Matter?

CEPR Discussion Paper No. 3566
Number of pages: 47 Posted: 13 Nov 2002
New York University - Leonard N. Stern School of Business, Pennsylvania State University - University Park - Department of Finance, New York University - Stern School of Business and New York University (NYU) - Department of Finance
Downloads 23 (441,848)
Citation 21

Abstract:

Strategic debt-service, interaction of optionalities, liquidity default, strategic default, cash-management

When Does Strategic Debt Service Matter?

NYU Working Paper No. S-CDM-02-03
Number of pages: 45 Posted: 05 Nov 2008
New York University - Leonard N. Stern School of Business, Pennsylvania State University - University Park - Department of Finance, New York University - Stern School of Business and New York University (NYU) - Department of Finance
Downloads 14 (493,957)
Citation 21

Abstract:

When Does Strategic Debt Service Matter?

Economic Theory, pp. 1-16, April 2006
Posted: 09 May 2006
New York University - Leonard N. Stern School of Business, Pennsylvania State University - University Park - Department of Finance, New York University - Stern School of Business and New York University (NYU) - Department of Finance

Abstract:

Strategic debt-service, optimal cash management, liquidity defaults, strategic defaults, yield spreads

65.
Downloads 294 ( 84,358)
Citation 4

Optimal Financial Integration and Security Design

Stern School of Business Working Paper No. S-00-12
Number of pages: 31 Posted: 17 Mar 2000
Viral V. Acharya and Alberto Bisin
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Economics
Downloads 271 (91,874)
Citation 4

Abstract:

security design, financial integration, incomplete markets, restricted participation, CAPM

Optimal Financial Integration and Security Design

CEPR Discussion Paper No. 3852
Number of pages: 42 Posted: 30 May 2003
Viral V. Acharya and Alberto Bisin
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Economics
Downloads 23 (441,848)
Citation 4

Abstract:

Security design, financial integration, decentralizability, incomplete markets, restricted participation, CAPM

Do Global Banks Spread Global Imbalances? The Case of Asset-Backed Commercial Paper During the Financial Crisis of 2007-09

Economic Review, International Monetary Fund, Forthcoming
Number of pages: 61 Posted: 08 Apr 2010 Last Revised: 21 Apr 2010
Viral V. Acharya and Philipp Schnabl
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
Downloads 230 (109,167)
Citation 35

Abstract:

Financial crisis, financial fragility, maturity mismatch, capital requirements, tail risk

Do Global Banks Spread Global Imbalances? Asset-Backed Commercial Paper During the Financial Crisis of 2007–09

IMF Economic Review, Vol. 58, No. 1, pp. 37-73, 2010
Number of pages: 37 Posted: 18 Oct 2010
Viral V. Acharya and Philipp Schnabl
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
Downloads 29 (410,313)
Citation 35

Abstract:

Do Global Banks Spread Global Imbalances? The Case of Asset-Backed Commercial Paper During the Financial Crisis of 2007-09

NBER Working Paper No. w16079
Number of pages: 62 Posted: 14 Jun 2010
Viral V. Acharya and Philipp Schnabl
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
Downloads 28 (415,025)
Citation 35

Abstract:

67.

The Dodd-Frank Act and Basel III: Intentions, Unintended Consequences, and Lessons for Emerging Markets

ADBI Working Paper 392
Number of pages: 30 Posted: 29 Oct 2012
Viral V. Acharya
New York University - Leonard N. Stern School of Business
Downloads 282 (50,103)
Citation 1

Abstract:

Dodd-Frank Act, United States, Basel III requirements, macroprudential regulation, finance sector

68.
Downloads 278 ( 89,799)
Citation 9

A Crisis of Banks as Liquidity Providers

Journal of Finance, Forthcoming, NYU Working Paper No. FIN-11-031
Number of pages: 78 Posted: 15 Dec 2011 Last Revised: 15 Oct 2013
Viral V. Acharya and Nada Mora
New York University - Leonard N. Stern School of Business and Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 202 (124,102)
Citation 9

Abstract:

Liquidity risk, Solvency risk, Financial crisis, Flight to safety

A Crisis of Banks as Liquidity Providers

Journal of Finance, Forthcoming
Number of pages: 78 Posted: 16 Mar 2012 Last Revised: 15 Oct 2013
Viral V. Acharya and Nada Mora
New York University - Leonard N. Stern School of Business and Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 45 (347,988)
Citation 9

Abstract:

Liquidity risk; Solvency risk; Financial crisis; Flight to safety

Are Banks Passive Liquidity Backstops? Deposit Rates and Flows During the 2007-2009 Crisis

NBER Working Paper No. w17838
Number of pages: 64 Posted: 10 Feb 2012
Viral V. Acharya and Nada Mora
New York University - Leonard N. Stern School of Business and Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 26 (425,218)
Citation 9

Abstract:

Are Banks Passive Liquidity Backstops? Deposit Rates and Flows During the 2007-2009 Crisis

CEPR Discussion Paper No. DP8706
Number of pages: 64 Posted: 22 Dec 2011
Viral V. Acharya and Nada Mora
New York University - Leonard N. Stern School of Business and Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 5 (542,945)
Citation 9

Abstract:

financial crisis, flight to safety, liquidity, liquidity risk, solvency risk

69.
Downloads 278 ( 89,799)
Citation 10

A Theory of Slow-Moving Capital and Contagion

Number of pages: 45 Posted: 23 Jan 2009 Last Revised: 10 Nov 2010
Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 168 (147,396)
Citation 10

Abstract:

arbitrage, illiquidity, crises, spillover

A Theory of Slow-Moving Capital and Contagion

NYU Working Paper No. FIN-08-029
Number of pages: 45 Posted: 09 Mar 2009
Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 104 (216,790)
Citation 10

Abstract:

A Theory of Slow-Moving Capital and Contagion

CEPR Discussion Paper No. DP7147
Number of pages: 47 Posted: 18 Feb 2009
Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 6 (537,931)
Citation 10

Abstract:

arbitrage, crises, fire sales, illiquidity, spillover

Precautionary Hoarding of Liquidity and Inter-Bank Markets: Evidence from the Sub-Prime Crisis

NYU Working Paper No. FIN-09-018
Number of pages: 78 Posted: 08 Feb 2010 Last Revised: 30 Apr 2012
Viral V. Acharya and Ouarda Merrouche
New York University - Leonard N. Stern School of Business and Bank of England
Downloads 205 (122,381)
Citation 26

Abstract:

Precautionary Hoarding of Liquidity and Inter-Bank Markets: Evidence from the Sub-Prime Crisis

NYU Working Paper No. FIN-11-033
Number of pages: 78 Posted: 15 Dec 2011 Last Revised: 30 Apr 2012
Viral V. Acharya and Ouarda Merrouche
New York University - Leonard N. Stern School of Business and World Bank
Downloads 28 (415,025)
Citation 26

Abstract:

Precautionary Hoarding of Liquidity and Inter-Bank Markets: Evidence from the Sub-Prime Crisis

NBER Working Paper No. w16395
Number of pages: 55 Posted: 27 Sep 2010
Viral V. Acharya and Ouarda Merrouche
New York University - Leonard N. Stern School of Business and European University Institute
Downloads 19 (465,023)
Citation 27

Abstract:

Precautionary Hoarding of Liquidity and Inter-Bank Markets: Evidence from the Sub-Prime Crisis

CEPR Discussion Paper No. DP8859
Number of pages: 71 Posted: 01 Mar 2012
Viral V. Acharya and Ouarda Merrouche
New York University - Leonard N. Stern School of Business and European University Institute
Downloads 4 (547,924)
Citation 26

Abstract:

cash, contagion, counterparty risk, funding risk, money markets, rollover risk, systemic risk

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 203 (123,516)
Citation 21

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 Last Revised: 22 Jul 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 (329,082)
Citation 22

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 21

Abstract:

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

72.
Downloads 228 (110,539)
Citation 3

Robust Capital Regulation

FRB of New York Staff Report No. 490
Number of pages: 22 Posted: 25 Apr 2011 Last Revised: 06 Jul 2011
New York University - Leonard N. Stern School of Business, Independent, Oliver Wyman and Washington University, Saint Louis - John M. Olin School of Business
Downloads 218 (115,070)
Citation 3

Abstract:

capital requirements, leverage, systemic risk

Robust Capital Regulation

CEPR Discussion Paper No. DP8792
Number of pages: 24 Posted: 31 Jan 2012
New York University - Leonard N. Stern School of Business, Independent, Oliver Wyman and Washington University, Saint Louis - John M. Olin School of Business
Downloads 10 (516,767)
Citation 3

Abstract:

capital requirements, leverage, market discipline, model risk, systemic risk

How Do Global Banks Scramble for Liquidity? Evidence from the Asset-Backed Commercial Paper Freeze of 2007

Number of pages: 51 Posted: 19 Mar 2012
Viral V. Acharya, Gara Afonso and Anna Kovner
New York University - Leonard N. Stern School of Business, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 154 (159,050)
Citation 1

Abstract:

Credit crunch, ABCP freeze, liquidity

How Do Global Banks Scramble for Liquidity? Evidence from the Asset-Backed Commercial Paper Freeze of 2007

FRB of New York Staff Report No. 623
Number of pages: 66 Posted: 11 Aug 2013
Viral V. Acharya, Gara Afonso and Anna Kovner
New York University - Leonard N. Stern School of Business, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 57 (311,609)
Citation 1

Abstract:

funding risk and liquidity, global banking, ABCP freeze

How Do Global Banks Scramble for Liquidity? Evidence from the Asset-Backed Commercial Paper Freeze of 2007

CEPR Discussion Paper No. DP9457
Number of pages: 63 Posted: 02 May 2013
Viral V. Acharya, Gara Afonso and Anna Kovner
New York University - Leonard N. Stern School of Business, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 4 (547,924)
Citation 1

Abstract:

ABCP freeze, credit crunch, liquidity

Corporate Bonds: Valuation, Hedging, and Optimal Call and Default Policies

NYU Working Paper No. FIN-00-036
Number of pages: 54 Posted: 04 Nov 2008
Viral V. Acharya and Jennifer N. Carpenter
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
Downloads 140 (172,431)

Abstract:

Corporate Bonds: Valuation, Hedging, and Optimal Call and Default Policies

NYU Working Paper No. S-CDM-00-08
Number of pages: 54 Posted: 05 Nov 2008
Viral V. Acharya and Jennifer N. Carpenter
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
Downloads 75 (268,291)

Abstract:

75.

The Dark Side of Liquidity Creation: Leverage and Systemic Risk

Journal of Financial Intermediation, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 445/2015
Number of pages: 66 Posted: 18 Dec 2014 Last Revised: 28 Jun 2017
Viral V. Acharya and Anjan V. Thakor
New York University - Leonard N. Stern School of Business and Washington University, Saint Louis - John M. Olin School of Business
Downloads 194 (59,339)
Citation 2

Abstract:

micro-prudential regulation, macroprudential regulation, market discipline, contagion, lender of last resort, bailouts, capital requirements

76.

A Crisis of Banks as Liquidity Providers

Journal of Finance, Forthcoming, NYU Working Paper No. 2451/31364
Number of pages: 78 Posted: 10 Sep 2013 Last Revised: 15 Oct 2013
Viral V. Acharya and Nada Mora
New York University - Leonard N. Stern School of Business and Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 182 (84,020)
Citation 7

Abstract:

Liquidity risk, Solvency risk, Financial crisis, Flight to safety

77.

Endogenous Choice of Bank Liquidity: The Role of Fire Sales

Bank of England Working Paper No. 376
Number of pages: 68 Posted: 12 Dec 2009
Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 172 (116,055)
Citation 4

Abstract:

Crises, systemic risk, distress, limited pledgeability, lender of last resort

78.

On Reaching for Yield and the Coexistence of Bubbles and Negative Bubbles

Number of pages: 52 Posted: 16 Jun 2015 Last Revised: 16 Jan 2016
Viral V. Acharya and Hassan Naqvi
New York University - Leonard N. Stern School of Business and SKK Graduate School of Business
Downloads 146 (108,210)

Abstract:

Bubbles, monetary policy, moral hazard, negative bubbles, reaching for yield

A Proposal for the Resolution of Systemically Important Assets and Liabilities: The Case of the Repo Market

Number of pages: 45 Posted: 27 Mar 2012
Viral V. Acharya and T. Sabri Oncu
New York University - Leonard N. Stern School of Business and SoS Economics
Downloads 126 (187,649)

Abstract:

systemic risk, fire sales, runs, crises, macroprudential regulation, resolution authority, sale and repurchase agreements

A Proposal for the Resolution of Systemically Important Assets and Liabilities: The Case of the Repo Market

CEPR Discussion Paper No. DP8927
Number of pages: 48 Posted: 04 Apr 2012
Viral V. Acharya and T. Sabri Oncu
New York University - Leonard N. Stern School of Business and SoS Economics
Downloads 3 (553,413)

Abstract:

crises, fire sales, macroprudential regulation, resolution authority, runs, sale and repurchase agreements, systemic risk

80.

Imperfect Competition in the Interbank Market for Liquidity as Arationale for Central Banking

NYU Working Paper No. FIN-09-031
Number of pages: 42 Posted: 08 Feb 2010
Viral V. Acharya, Denis Gromb and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, INSEAD and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 126 (183,664)
Citation 20

Abstract:

A Model of Liquidity Hoarding and Term Premia in Inter-Bank Markets

FRB of New York Staff Report No. 498
Number of pages: 35 Posted: 31 May 2011
Viral V. Acharya and David R. Skeie
New York University - Leonard N. Stern School of Business and Texas A&M University - Mays Business School - Department of Finance
Downloads 107 (212,323)
Citation 18

Abstract:

inter-bank lending, financial crisis, precautionary demand, rollover risk, LIBOR-OIS spread

A Model of Liquidity Hoarding and Term Premia in Inter-Bank Markets

CEPR Discussion Paper No. DP8705
Number of pages: 37 Posted: 22 Dec 2011
Viral V. Acharya and David R. Skeie
New York University - Leonard N. Stern School of Business and Texas A&M University - Mays Business School - Department of Finance
Downloads 10 (516,767)
Citation 18

Abstract:

bank liquidity, bank loans, debt, financial leverage, interbank market, risk management

82.

A Tale of Two Overhangs: The Nexus of Financial Sector and Sovereign Credit Risks

Financial Stability Review, No. 16, April 2012
Number of pages: 6 Posted: 29 Apr 2012
Viral V. Acharya, Itamar Drechsler and Philipp Schnabl
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 108 (162,484)
Citation 4

Abstract:

Sovereign Debt, Financial Crisis, Bailouts, Debt Overhang, Credit Default Swaps

83.

Bank Lines of Credit as Contingent Liquidity: A Study of Covenant Violations and Their Implications

ECB Working Paper No. 1702
Number of pages: 42 Posted: 02 Aug 2014
New York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign, Universitat Pompeu Fabra - Faculty of Economic and Business Sciences and Federal Reserve Board
Downloads 103 (148,903)

Abstract:

lines of credit, firm financial constraints, bank financial health, covenant violations

84.
Downloads 95 (229,404)
Citation 2

Bank Capital and Dividend Externalities

BIS Working Paper No. 580
Number of pages: 56 Posted: 15 Sep 2016
Viral V. Acharya, Hanh Le and Hyun Song Shin
New York University - Leonard N. Stern School of Business, University of Illinois at Chicago and Bank for International Settlements
Downloads 74 (270,449)
Citation 2

Abstract:

bank dividends, capital erosion, systemic risk

Bank Capital and Dividend Externalities

NBER Working Paper No. w19707
Number of pages: 61 Posted: 10 Dec 2013
Viral V. Acharya, Hanh Le and Hyun Song Shin
New York University - Leonard N. Stern School of Business, University of Illinois at Chicago and Bank for International Settlements
Downloads 14 (493,957)
Citation 2

Abstract:

Bank Capital and Dividend Externalities

CEPR Discussion Paper No. DP9479
Number of pages: 53 Posted: 24 May 2013
Viral V. Acharya, Hanh T. Le and Hyun Song Shin
New York University - Leonard N. Stern School of Business, New York University (NYU) - Leonard N. Stern School of Business and Bank for International Settlements
Downloads 6 (537,931)
Citation 2

Abstract:

externalities, financial crises, franchise value, risk-shifting

Bank Capital and Dividend Externalities

CEPR Discussion Paper No. DP9865
Number of pages: 62 Posted: 02 Jun 2014
Viral V. Acharya, Hanh T. Le and Hyun Song Shin
New York University - Leonard N. Stern School of Business, New York University (NYU) - Leonard N. Stern School of Business and Bank for International Settlements
Downloads 1 (571,894)
Citation 2

Abstract:

externalities, financial crises, franchise value, risk-shifting

85.

Bank Liquidity and Bubbles: Why Central Banks Should Lean Against Liquidity

NEW PERSPECTIVES ON ASSET PRICE BUBBLES: THEORY, EVIDENCE, AND POLICY, Douglas Evanoff, George Kaufman, and A. G. Malliaris, eds., Oxford University Press, 2012
Number of pages: 16 Posted: 21 Mar 2012
Hassan Naqvi and Viral V. Acharya
SKK Graduate School of Business and New York University - Leonard N. Stern School of Business
Downloads 81 (223,159)

Abstract:

Bubbles, Greenspan put, leaning against the wind, monetary policy, moral hazard

On the Optimality of Resetting Executive Stock Options

NYU Working Paper No. FIN-99-087
Number of pages: 38 Posted: 11 Nov 2008
Viral V. Acharya, Kose John and Rangarajan K. Sundaram
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 81 (256,039)
Citation 46

Abstract:

On the Optimality of Resetting Executive Stock Options

Journal of Financial Economics, Vol. 57, No. 1, pp. 65-101, July 2000
Posted: 21 Nov 2000
Viral V. Acharya, Kose John and Rangarajan K. Sundaram
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance

Abstract:

87.

Online Appendix of 'The Seeds of a Crisis: A Theory of Bank Liquidity and Risk-Taking Over the Business Cycle'

Number of pages: 4 Posted: 10 Oct 2010 Last Revised: 22 Apr 2011
Hassan Naqvi and Viral V. Acharya
SKK Graduate School of Business and New York University - Leonard N. Stern School of Business
Downloads 63 (278,535)

Abstract:

Bank's objective function, cost of a bubble

Unintended Consequences of LOLR Facilities: The Case of Illiquid Leverage

Number of pages: 63 Posted: 01 Dec 2013
Viral V. Acharya and Bruce Tuckman
New York University - Leonard N. Stern School of Business and NYU Stern School of Business
Downloads 25 (430,606)

Abstract:

Moral hazard, deleveraging, fire sales, Bagehot, solvency risk, liquidity risk

Unintended Consequences of LOLR Facilities: The Case of Illiquid Leverage

NBER Working Paper No. w19773
Number of pages: 64 Posted: 28 Dec 2013
Viral V. Acharya and Bruce Tuckman
New York University - Leonard N. Stern School of Business and New York University (NYU) - Leonard N. Stern School of Business
Downloads 10 (516,767)

Abstract:

Unintended Consequences of LOLR Facilities: The Case of Illiquid Leverage

CEPR Discussion Paper No. DP9784
Number of pages: 66 Posted: 10 Dec 2013
Viral V. Acharya and Bruce Tuckman
New York University - Leonard N. Stern School of Business and New York University (NYU) - Leonard N. Stern School of Business
Downloads 1 (571,894)

Abstract:

Unintended Consequences of LOLR Facilities: The Case of Illiquid Leverage

IMF Economic Review, Vol. 62, Issue 4, pp. 606-655, 2014
Number of pages: 50 Posted: 29 Dec 2014
Viral V. Acharya and Bruce Tuckman
New York University - Leonard N. Stern School of Business and New York University (NYU) - Leonard N. Stern School of Business
Downloads 0

Abstract:

89.

Entrepreneurial Incentives in Stock Market Economies

CEPR Discussion Paper No. 3474
Number of pages: 53 Posted: 06 Sep 2002
Viral V. Acharya and Alberto Bisin
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Economics
Downloads 31 (391,247)
Citation 1

Abstract:

Entrepreneurship, managerial incentives, hedging, aggregate risk, idiosyncratic risk, stock market efficiency, CAPM, financial innovation

90.

Dealer Financial Conditions and Lender-of-Last Resort Facilities

FRB of New York Staff Report No. 673
Number of pages: 57 Posted: 20 May 2014
New York University - Leonard N. Stern School of Business, Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 30 (280,766)
Citation 1

Abstract:

lender of last resort, central banking, crises, illiquidity, insolvency, stigma

91.

A Transparency Standard for Derivatives

NBER Working Paper No. w17558
Number of pages: 18 Posted: 04 Nov 2011
Viral V. Acharya
New York University - Leonard N. Stern School of Business
Downloads 26 (413,437)
Citation 1

Abstract:

92.

Cash-in-the-Market Pricing and Optimal Bank Bailout Policy

CEPR Discussion Paper No. 5154
Number of pages: 58 Posted: 17 Aug 2005
Viral V. Acharya and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 18 (454,356)
Citation 4

Abstract:

Bank regulation, systemic risk, banking crises, time inconsistency, too many to fail, herding

93.

Imperfect Competition in the Inter-Bank Market for Liquidity as a Rationale for Central Banking

CEPR Discussion Paper No. DP6984
Number of pages: 41 Posted: 02 Dec 2008
Viral V. Acharya, Denis Gromb and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, London Business School and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 9 (500,361)
Citation 29

Abstract:

Asset specificity, Central bank, Competition, Interbank lending, Lender of last resort, Market power

94.

Moral Hazard, Collateral and Liquidity

CEPR Discussion Paper No. DP6630
Number of pages: 56 Posted: 05 Jun 2008
Viral V. Acharya and S. Viswanathan
New York University - Leonard N. Stern School of Business and Duke University - Fuqua School of Business
Downloads 9 (500,361)
Citation 53

Abstract:

Credit rationing, financial crises, fire sales, funding liquidity, market liquidity, risk-shifting

95.

Online Appendix for: 'On Reaching for Yield and the Coexistence of Bubbles and Negative Bubbles'

Number of pages: 12 Posted: 16 Jun 2015 Last Revised: 16 Jan 2016
Viral V. Acharya and Hassan Naqvi
New York University - Leonard N. Stern School of Business and SKK Graduate School of Business
Downloads 8 (418,263)

Abstract:

Bubbles, monetary policy, moral hazard, negative bubbles, reaching for yield

96.

Private Equity vs. PLC Boards: A Comparison of Practices and Effectiveness - Summary of Research Findings

CEPR Discussion Paper No. DP7148
Number of pages: 24 Posted: 18 Feb 2009
Viral V. Acharya, Conor Kehoe and Michael Reyner
New York University - Leonard N. Stern School of Business, McKinsey & Company, Inc. and MWM Consulting
Downloads 7 (509,896)

Abstract:

97.

The "Greatest" Carry Trade Ever? Understanding Eurozone Bank Risks

NBER Working Paper No. w19039
Number of pages: 66 Posted: 11 May 2013
Viral V. Acharya and Sascha Steffen
New York University - Leonard N. Stern School of Business and University of Mannheim - Business School
Downloads 6 (505,126)
Citation 5

Abstract:

98.

Fire Sales, Foreign Entry and Bank Liquidity

CEPR Discussion Paper No. DP6309
Number of pages: 62 Posted: 27 May 2008
Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 6 (514,318)
Citation 19

Abstract:

crises, distress, limited pledgeability, liquidation cost, systemic risk

99.

The Dodd-Frank Wall Street Reform and Consumer Protection Act: Accomplishments and Limitations

Journal of Applied Corporate Finance, Vol. 23, Issue 1, pp. 43-56, 2011
Number of pages: 16 Posted: 21 Mar 2011
New York University - Leonard N. Stern School of Business, New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance, New York University - Stern School of Business, Department of Economics and New York University - Leonard N. Stern School of Business
Downloads 5 (514,318)

Abstract:

100.

Precautionary Hoarding of Liquidity and Inter-Bank Markets: Evidencefrom the Sub-Prime Crisis

NYU Working Paper No. 2451/31366
Number of pages: 61 Posted: 10 Sep 2013
Viral V. Acharya and Ouarda Merrouche
New York University - Leonard N. Stern School of Business and World Bank
Downloads 4 (490,519)
Citation 23

Abstract:

101.

What Saved the Indian Banking System: State Ownership or State Guarantees?

The World Economy, Vol. 35, Issue 1, pp. 19-31, 2012
Number of pages: 13 Posted: 19 Jan 2012
Viral V. Acharya and Nirupama Kulkarni
New York University - Leonard N. Stern School of Business and University of California, Berkeley - Haas School of Business
Downloads 1 (543,599)

Abstract:

102.

Lending Implications of U.S. Bank Stress Tests: Costs or Benefits?

Number of pages: 64 Posted: 24 May 2017
Viral V. Acharya, Allen N. Berger and Raluca A. Roman
New York University - Leonard N. Stern School of Business, University of South Carolina - Darla Moore School of Business and Federal Reserve Bank of Kansas City
Downloads 0 (280,766)

Abstract:

Bank Stress Tests, SCAP, CCAR, Regulatory Disclosure, Lending, Risk

103.

Bank Use of Sovereign CDS in the Eurozone Crisis: Hedging and Risk Incentives

Number of pages: 51 Posted: 01 Dec 2016
Viral V. Acharya, Yalin Gündüz and Timothy C. Johnson
New York University - Leonard N. Stern School of Business, Deutsche Bundesbank and University of Illinois at Urbana-Champaign
Downloads 0 (364,905)

Abstract:

Banks, CDS, Sovereign credit risk, Eurozone crisis, Depository Trust & Clearing Corporation (DTCC)

104.

Cash Holdings and Bank Compensation

Economic Policy Review, Issue Aug, pp. 77-83, 2016
Number of pages: 7 Posted: 23 Aug 2016
Viral V. Acharya, Hamid Mehran and Rangarajan K. Sundaram
New York University - Leonard N. Stern School of Business, Independent and New York University (NYU) - Department of Finance
Downloads 0 (341,870)

Abstract:

financial stability, risk management, managerial incentives, deferred cash compensation

105.

A New Perspective on Bank-Dependency: The Liquidity Insurance Channel

Number of pages: 37 Posted: 15 Jun 2016
New York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign, Universitat Pompeu Fabra - Faculty of Economic and Business Sciences and Federal Reserve Board
Downloads 0 (259,555)

Abstract:

liquidity management, cash holdings, liquidity risk, investment, lending channel, credit lines

106.

Lender of Last Resort versus Buyer of Last Resort – Evidence from the European Sovereign Debt Crisis

ZEW - Centre for European Economic Research Discussion Paper No. 16-019
Number of pages: 66 Posted: 12 Apr 2016 Last Revised: 12 Apr 2017
Viral V. Acharya, Diane Pierret and Sascha Steffen
New York University - Leonard N. Stern School of Business, HEC - University of Lausanne and University of Mannheim - Business School
Downloads 0 (78,889)

Abstract:

Monetary policy, fire sale risk, bank risk, sovereign debt, ECB

107.

Does the Lack of Financial Stability Impair the Transmission of Monetary Policy?

Number of pages: 59 Posted: 16 Nov 2015
New York University - Leonard N. Stern School of Business, Copenhagen Business School, University of Mannheim - Business School and Goethe University Frankfurt - House of Finance
Downloads 0 (220,106)

Abstract:

Central bank liquidity, Unconventional monetary policy, Monetary policy transmission, Corporate deposits, Financial crisis, Banking crisis, Loans, Real Effects

108.

Implications of the Dodd-Frank Act

Annual Review of Financial Economics, Vol. 4, pp. 1-38, 2012
Posted: 04 Nov 2012
Viral V. Acharya and Matthew P. Richardson
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance

Abstract:

109.

Information Contagion and Bank Herding

Journal of Money, Credit, and Banking, Forthcoming
Posted: 28 Oct 2006
Viral V. Acharya and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business and University of Amsterdam - Faculty of Economics and Business (FEB)

Abstract:

Systemic risk, Information spillover, Inter-bank correlation

110.

Does Industry-Wide Distress Affect Defaulted Firms? Evidence from Creditor Recoveries

Journal of Financial Economics 85 (2007) 787–821.,
Posted: 28 Oct 2006
Viral V. Acharya, Sreedhar T. Bharath and Anand Srinivasan
New York University - Leonard N. Stern School of Business, Arizona State University - W.P. Carey School of Business and CAFRAL, Reserve Bank of India

Abstract:

Recovery, Default, Credit risk, Distressed securities, Bankruptcy

111.

Optimal Financial-Market Integration and Security Design

Journal of Business, Forthcoming
Posted: 27 May 2004
Viral V. Acharya and Alberto Bisin
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Economics

Abstract:

Financial innovation, Security design, Financial integration, Restricted participation, Decentralization, Coordination failure

112.

Is the International Convergence of Capital Adequacy Regulation Desirable?

Journal of Finance, Vol. 58, No. 6, p. 2745, December 2003
Posted: 29 Dec 2003
Viral V. Acharya
New York University - Leonard N. Stern School of Business

Abstract:

Bank capital, Capital adequacy regulation, Closure policy, Harmonization, International competition, Regulatory capture

113.

Corporate Bond Valuation and Hedging with Stochastic Interest Rates and Endogenous Bankruptcy

Review of Financial Studies, Forthcoming
Posted: 17 Dec 2001
Jennifer N. Carpenter and Viral V. Acharya
New York University (NYU) - Department of Finance and New York University - Leonard N. Stern School of Business

Abstract:

corporate bonds, call, default, stochastic interest rates, endogenous bankruptcy, optimal exercise boundary, hedging, duration

114.

Callable Defaultable Bonds: Valuation, Hedging, and Optimal Exercise Boundaries

Posted: 20 Jan 2000
Jennifer N. Carpenter and Viral V. Acharya
New York University (NYU) - Department of Finance and New York University - Leonard N. Stern School of Business

Abstract: