Viral V. Acharya

New York University - Leonard N. Stern School of Business

Professor of Finance

44 West 4th Street

Suite 9-160

New York, NY NY 10012

United States

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

Professor

Professor

44 West 4th Street

Suite 9-160

New York, NY NY 10012

United States

http://www.stern.nyu.edu/~vacharya

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

Centre for Economic Policy Research (CEPR)

Fellow

London

United Kingdom

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

147

DOWNLOADS
Rank 106

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in Total Papers Downloads

109,583

SSRN CITATIONS
Rank 5

SSRN RANKINGS

Top 5

in Total Papers Citations

6,764

CROSSREF CITATIONS

11,425

Ideas:
“  The Nexus between Sovereign and Financial Risks, Government Myopia, and Unintended Consequences of Ultra-loose Monetary Policy  ”

Scholarly Papers (147)

1.
Downloads 10,461 ( 655)
Citation 257

Measuring Systemic Risk

AFA 2011 Denver Meetings Paper
Number of pages: 46 Posted: 22 Mar 2010 Last Revised: 09 Aug 2010
Viral V. Acharya, Viral V. Acharya, Lasse Heje Pedersen, Thomas Philippon and Matthew P. Richardson
ProfessorNew 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 6,333 (1,576)
Citation 128

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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
Viral V. Acharya, Viral V. Acharya, Lasse Heje Pedersen, Thomas Philippon and Matthew P. Richardson
ProfessorNew 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 4,114 (3,288)
Citation 14

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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
Viral V. Acharya, Viral V. Acharya, Lasse Heje Pedersen, Thomas Philippon and Matthew P. Richardson
ProfessorNew 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 (759,923)
Citation 87
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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 and Viral V. Acharya
ProfessorNew York University - Leonard N. Stern School of Business
Downloads 3,609 (4,067)
Citation 49

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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 and Viral V. Acharya
ProfessorNew York University - Leonard N. Stern School of Business
Downloads 2,021 (10,590)
Citation 12

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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 and Viral V. Acharya
ProfessorNew York University - Leonard N. Stern School of Business
Downloads 10 (797,700)
Citation 55
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Bank regulation, Capital adequacy, Crisis, Risk-shifting, Systemic risk

Corporate Governance and Value Creation: Evidence from Private Equity

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 232/2009
Number of pages: 50 Posted: 08 Jan 2009 Last Revised: 30 Nov 2018
Viral V. Acharya, Viral V. Acharya, Oliver Gottschalg, Moritz Hahn and Conor Kehoe
ProfessorNew York University - Leonard N. Stern School of Business, HEC Paris - Strategy & Business Policy, Ludwig Maximilian University of Munich (LMU) and McKinsey & Company, Inc.
Downloads 4,539 (2,782)
Citation 74

Abstract:

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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, Viral V. Acharya, Oliver Gottschalg, Moritz Hahn and Conor Kehoe
ProfessorNew York University - Leonard N. Stern School of Business, HEC Paris - Strategy & Business Policy, Ludwig Maximilian University of Munich (LMU) and McKinsey & Company, Inc.
Downloads 973 (32,078)

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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, Viral V. Acharya, Moritz Hahn and Conor Kehoe
ProfessorNew York University - Leonard N. Stern School of Business, Ludwig Maximilian University of Munich (LMU) and McKinsey & Company, Inc.
Downloads 58 (488,814)
Citation 3
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active ownership, activism, alpha, leveraged buyouts (LBO), management buyouts (MBO), management turnover

4.

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, Viral V. Acharya and Matthew P. Richardson
ProfessorNew York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
Downloads 4,478 (2,902)
Citation 12

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

5.

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, Viral V. Acharya, Deniz Anginer and A. Joseph Warburton
ProfessorNew York University - Leonard N. Stern School of Business, Simon Fraser University (SFU) and Syracuse University - College of Law
Downloads 4,123 (3,330)
Citation 17

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

6.
Downloads 3,637 ( 4,089)
Citation 667

Asset Pricing with Liquidity Risk

Number of pages: 58 Posted: 28 Jan 2003
Viral V. Acharya, Viral V. Acharya and Lasse Heje Pedersen
ProfessorNew York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
Downloads 2,836 (6,154)
Citation 19

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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, Viral V. Acharya and Lasse Heje Pedersen
ProfessorNew York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
Downloads 337 (122,615)
Citation 22

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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, Viral V. Acharya and Lasse Heje Pedersen
ProfessorNew York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
Downloads 244 (171,056)

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Asset Pricing with Liquidity Risk

NBER Working Paper No. w10814
Number of pages: 60 Posted: 18 Oct 2004 Last Revised: 19 Jan 2022
Viral V. Acharya, Viral V. Acharya and Lasse Heje Pedersen
ProfessorNew York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
Downloads 129 (298,381)
Citation 2

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Asset Pricing with Liquidity Risk

Number of pages: 47 Posted: 11 Jan 2005
Viral V. Acharya, Viral V. Acharya and Lasse Heje Pedersen
ProfessorNew York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
Downloads 47 (537,368)
Citation 92
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Liquidity, liquidity risk, asset pricing, frictions, transaction costs

Asset Pricing with Liquidity Risk

Number of pages: 60 Posted: 07 Mar 2003
Viral V. Acharya, Viral V. Acharya and Lasse Heje Pedersen
ProfessorNew York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
Downloads 44 (552,194)
Citation 16
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Liquidity, liquidity risk, capital asset pricing model (CAPM), liquidity premium, equilibrium asset pricing

Asset Pricing with Liquidity Risk

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

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

7.
Downloads 2,828 ( 6,294)
Citation 110

Creditor Rights and Corporate Risk-Taking

Number of pages: 43 Posted: 18 Jan 2008
Viral V. Acharya, Viral V. Acharya, Yakov Amihud and Lubomir P. Litov
ProfessorNew 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 1,089 (27,364)
Citation 4

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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, Viral V. Acharya, Yakov Amihud and Lubomir P. Litov
ProfessorNew 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 706 (49,869)
Citation 1

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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, Viral V. Acharya, Yakov Amihud and Lubomir P. Litov
ProfessorNew 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 408 (98,649)
Citation 99

Abstract:

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creditor rights, investment policy, bankrutcy code

Creditor Rights and Corporate Risk-Taking

NBER Working Paper No. w15569
Number of pages: 61 Posted: 08 Dec 2009 Last Revised: 16 Jan 2022
Viral V. Acharya, Viral V. Acharya, Yakov Amihud and Lubomir P. Litov
ProfessorNew 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 318 (130,266)
Citation 1

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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, Viral V. Acharya, Yakov Amihud and Lubomir P. Litov
ProfessorNew 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 305 (136,327)

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Creditor Rights and Corporate Risk-Taking

CEPR Discussion Paper No. DP6697
Number of pages: 46 Posted: 09 Jun 2008
Viral V. Acharya, Viral V. Acharya, Yakov Amihud and Lubomir P. Litov
ProfessorNew 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 (882,461)
Citation 2
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Bankruptcy, Default, Diversification, Managerial turnover, Recovery

8.
Downloads 2,441 ( 7,952)
Citation 213

Insider Trading in Credit Derivatives

Number of pages: 50 Posted: 02 Aug 2005
Viral V. Acharya, Viral V. Acharya, Timothy C. Johnson and Timothy C. Johnson
ProfessorNew York University - Leonard N. Stern School of Business and University of IllinoisLondon Business School
Downloads 2,418 (7,926)
Citation 15

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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, Viral V. Acharya, Timothy C. Johnson and Timothy C. Johnson
ProfessorNew York University - Leonard N. Stern School of Business and University of IllinoisLondon Business School
Downloads 23 (684,003)
Citation 31
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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, Viral V. Acharya, Timothy C. Johnson and Timothy C. Johnson
ProfessorNew York University - Leonard N. Stern School of Business and University of IllinoisLondon Business School

Abstract:

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

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, Viral V. Acharya, Irvind Gujral and Hyun Song Shin
ProfessorNew York University - Leonard N. Stern School of Business, London Business School (MBA 2007) and Bank for International Settlements (BIS)
Downloads 1,917 (11,546)
Citation 41

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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 Last Revised: 03 Mar 2022
Viral V. Acharya, Viral V. Acharya, Irvind Gujral, Nirupama Kulkarni and Hyun Song Shin
ProfessorNew 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 (BIS)
Downloads 112 (331,018)

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

CEPR Discussion Paper No. DP8801
Number of pages: 45 Posted: 01 Mar 2012
Viral V. Acharya, Viral V. Acharya, Irvind Gujral, Nirupama Kulkarni and Hyun Song Shin
ProfessorNew 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 (BIS)
Downloads 11 (788,184)
Citation 4
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asset substitution, crisis, regulatory capital, risk-shifting

10.
Downloads 1,937 ( 11,587)
Citation 16

Pricing Credit Derivatives with Rating Transitions

Number of pages: 30 Posted: 22 Oct 2001
Viral V. Acharya, Viral V. Acharya, Sanjiv Ranjan Das and Rangarajan K. Sundaram
ProfessorNew York University - Leonard N. Stern School of Business, Santa Clara University - Leavey School of Business and New York University (NYU) - Department of Finance
Downloads 1,648 (14,695)
Citation 1

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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
Viral V. Acharya, Viral V. Acharya, Sanjiv Ranjan Das and Rangarajan K. Sundaram
ProfessorNew York University - Leonard N. Stern School of Business, Santa Clara University - Leavey School of Business and New York University (NYU) - Department of Finance
Downloads 126 (303,782)

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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
Viral V. Acharya, Viral V. Acharya, Sanjiv Ranjan Das and Rangarajan K. Sundaram
ProfessorNew York University - Leonard N. Stern School of Business, Santa Clara University - Leavey School of Business and New York University (NYU) - Department of Finance
Downloads 66 (457,783)

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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
Viral V. Acharya, Viral V. Acharya, Sanjiv Ranjan Das and Rangarajan K. Sundaram
ProfessorNew York University - Leonard N. Stern School of Business, Santa Clara University - Leavey School of Business and New York University (NYU) - Department of Finance
Downloads 55 (501,111)

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Pricing Credit Derivatives with Rating Transitions

Number of pages: 34 Posted: 21 May 2002
Viral V. Acharya, Viral V. Acharya, Sanjiv Ranjan Das and Rangarajan K. Sundaram
ProfessorNew 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 (562,464)
Citation 2
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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
Viral V. Acharya, Viral V. Acharya, Sanjiv Ranjan Das and Rangarajan K. Sundaram
ProfessorNew York University - Leonard N. Stern School of Business, Santa Clara University - Leavey School of Business and New York University (NYU) - Department of Finance

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Pricing Credit Derivatives with Rating Transitions

Financial Analysts Journal, Vol. 58, No. 3 May/June 2002
Posted: 23 Oct 2001
Viral V. Acharya, Viral V. Acharya, Sanjiv Ranjan Das and Rangarajan K. Sundaram
ProfessorNew York University - Leonard N. Stern School of Business, Santa Clara University - Leavey School of Business and New York University (NYU) - Department of Finance

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

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, Viral V. Acharya and Murillo Campello
University of Illinois at Urbana-Champaign, ProfessorNew York University - Leonard N. Stern School of Business and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 1,671 (14,408)
Citation 2

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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 Last Revised: 16 Feb 2022
Viral V. Acharya, Viral V. Acharya, Heitor Almeida and Murillo Campello
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 79 (414,164)
Citation 35

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

Number of pages: 52 Posted: 26 May 2005
Viral V. Acharya, Viral V. Acharya, Heitor Almeida and Murillo Campello
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 22 (691,977)
Citation 22
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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, Viral V. Acharya, Heitor Almeida and Murillo Campello
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management

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

12.
Downloads 1,763 ( 13,426)
Citation 9

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, Viral V. Acharya, Julian R. Franks and Henri Servaes
ProfessorNew York University - Leonard N. Stern School of Business, London Business School - Institute of Finance and Accounting and London Business School
Downloads 1,732 (13,599)

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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, Viral V. Acharya, Julian R. Franks and Henri Servaes
ProfessorNew York University - Leonard N. Stern School of Business, London Business School - Institute of Finance and Accounting and London Business School
Downloads 31 (626,103)

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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, Viral V. Acharya, Anthony Saunders and Iftekhar Hasan
ProfessorNew York University - Leonard N. Stern School of Business, New York University - Leonard N. Stern School of Business and Fordham University
Downloads 1,730 (13,623)
Citation 97

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Focus, Diversification, Monitoring, Bank risk, Bank return

Should Banks Be Diversified? Evidence from Individual Bank Loan Portfolios

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

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Focus, Diversification, Monitoring, Bank risk, Bank return

14.
Downloads 1,719 ( 13,982)
Citation 26

The Internal Governance of Firms

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 239/2009
Number of pages: 64 Posted: 28 Feb 2009 Last Revised: 30 Nov 2018
Viral V. Acharya, Viral V. Acharya, Stewart C. Myers and Raghuram G. Rajan
ProfessorNew York University - Leonard N. Stern School of Business, Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 1,241 (22,556)
Citation 26

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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, Viral V. Acharya, Stewart C. Myers and Raghuram G. Rajan
ProfessorNew York University - Leonard N. Stern School of Business, Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 251 (166,438)

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The Internal Governance of Firms

Number of pages: 45 Posted: 20 Dec 2009
Viral V. Acharya, Viral V. Acharya, Stewart C. Myers and Raghuram G. Rajan
ProfessorNew York University - Leonard N. Stern School of Business, Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 180 (227,078)

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governance, internal

The Internal Governance of Firms

NBER Working Paper No. w15568
Number of pages: 48 Posted: 08 Dec 2009 Last Revised: 15 Jan 2022
Viral V. Acharya, Viral V. Acharya, Stewart C. Myers and Raghuram G. Rajan
ProfessorNew York University - Leonard N. Stern School of Business, Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 44 (552,194)

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The Internal Governance of Firms

CEPR Discussion Paper No. DP7210
Number of pages: 48 Posted: 07 Apr 2009
Viral V. Acharya, Viral V. Acharya, Stewart C. Myers and Raghuram G. Rajan
ProfessorNew York University - Leonard N. Stern School of Business, Massachusetts Institute of Technology (MIT) and University of Chicago - Booth School of Business
Downloads 3 (869,189)
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Agency theory, Corporate governance, Dividends, Internal organization, Short-termism

15.
Downloads 1,712 ( 14,088)
Citation 73

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, Viral V. Acharya, Sergei Davydenko and Ilya A. Strebulaev
ProfessorNew York University - Leonard N. Stern School of Business, University of Toronto - Finance Area and Stanford University - Graduate School of Business
Downloads 1,632 (14,918)
Citation 5

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Credit spreads, Default, Liquidity, Precautionary savings

Cash Holdings and Credit Risk

NBER Working Paper No. w16995
Number of pages: 39 Posted: 02 May 2011 Last Revised: 10 Dec 2021
Viral V. Acharya, Viral V. Acharya, Sergei Davydenko and Ilya A. Strebulaev
ProfessorNew York University - Leonard N. Stern School of Business, University of Toronto - Finance Area and Stanford University - Graduate School of Business
Downloads 73 (433,427)

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Cash Holdings and Credit Risk

CEPR Discussion Paper No. DP7125
Number of pages: 48 Posted: 18 Feb 2009
Viral V. Acharya, Viral V. Acharya, Sergei Davydenko and Ilya A. Strebulaev
ProfessorNew York University - Leonard N. Stern School of Business, University of Toronto - Finance Area and Stanford University - Graduate School of Business
Downloads 7 (827,497)
Citation 19
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Credit spreads, Default, Liquidity, Precautionary savings

Contract Renegotiation and the Optimality of Resetting Executive Stock Options

Number of pages: 43 Posted: 31 Dec 1998
Viral V. Acharya, Viral V. Acharya, Kose John and Rangarajan K. Sundaram
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 1,633 (14,909)
Citation 14

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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, Viral V. Acharya, Kose John and Rangarajan K. Sundaram
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 38 (584,064)

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17.
Downloads 1,647 ( 14,966)
Citation 247

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, Viral V. Acharya, Philipp Schnabl and Gustavo Suarez
ProfessorNew 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 1,464 (17,563)
Citation 12

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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 Last Revised: 26 Dec 2021
Viral V. Acharya, Viral V. Acharya, Philipp Schnabl and Gustavo Suarez
ProfessorNew 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 172 (236,301)
Citation 20

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Securitization Without Risk Transfer

CEPR Discussion Paper No. DP8769
Number of pages: 54 Posted: 20 Jan 2012
Viral V. Acharya, Viral V. Acharya, Philipp Schnabl and Gustavo Suarez
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Board of Governors of the Federal Reserve System
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Citation 59
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asset-backed commercial paper (ABCP), bank capital, conduits, regulatory arbitrage, shadow banking, structured investment vehicle (SIV)

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, Viral V. Acharya, Tarun Ramadorai and Lars A. Lochstoer
ProfessorNew York University - Leonard N. Stern School of Business, Imperial College London and University of California, Los Angeles (UCLA) - Anderson School of Management
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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, Viral V. Acharya, Lars A. Lochstoer and Tarun Ramadorai
ProfessorNew York University - Leonard N. Stern School of Business, University of California, Los Angeles (UCLA) - Anderson School of Management and Imperial College London
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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, Viral V. Acharya, Lars A. Lochstoer and Tarun Ramadorai
ProfessorNew York University - Leonard N. Stern School of Business, University of California, Los Angeles (UCLA) - Anderson School of Management and Imperial College London
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Limits to Arbitrage and Hedging: Evidence from Commodity Markets

NBER Working Paper No. w16875
Number of pages: 57 Posted: 14 Mar 2011 Last Revised: 10 Feb 2022
Viral V. Acharya, Viral V. Acharya, Lars A. Lochstoer and Tarun Ramadorai
ProfessorNew York University - Leonard N. Stern School of Business, University of California, Los Angeles (UCLA) - Anderson School of Management and Imperial College London
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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, Viral V. Acharya, Lars A. Lochstoer and Tarun Ramadorai
ProfessorNew York University - Leonard N. Stern School of Business, University of California, Los Angeles (UCLA) - Anderson School of Management and Imperial College London
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Citation 17
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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, Viral V. Acharya, Lars A. Lochstoer and Tarun Ramadorai
ProfessorNew York University - Leonard N. Stern School of Business, University of California, Los Angeles (UCLA) - Anderson School of Management and Imperial College London

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

Number of pages: 59 Posted: 01 Jun 2015 Last Revised: 05 Feb 2018
Viral V. Acharya, Viral V. Acharya, Tim Eisert, Christian Eufinger, Christian W. Hirsch and Christian W. Hirsch
ProfessorNew York University - Leonard N. Stern School of Business, Erasmus University Rotterdam (EUR), IESE Business School and University of FrankfurtLeibniz Institute for Financial Research SAFE
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Citation 57

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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
Viral V. Acharya, Viral V. Acharya, Tim Eisert, Christian Eufinger, Christian W. Hirsch and Christian W. Hirsch
ProfessorNew York University - Leonard N. Stern School of Business, Erasmus University Rotterdam (EUR), IESE Business School and University of FrankfurtLeibniz Institute for Financial Research SAFE
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Citation 56
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credit contraction, European sovereign debt crisis, financing constraints, real effects

Whatever It Takes: The Real Effects of Unconventional Monetary Policy

Number of pages: 94 Posted: 02 Mar 2016 Last Revised: 19 Dec 2018
Viral V. Acharya, Viral V. Acharya, Tim Eisert, Christian Eufinger, Christian W. Hirsch and Christian W. Hirsch
ProfessorNew York University - Leonard N. Stern School of Business, Erasmus University Rotterdam (EUR), IESE Business School and University of FrankfurtLeibniz Institute for Financial Research SAFE
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Citation 110

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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
Viral V. Acharya, Viral V. Acharya, Tim Eisert, Christian Eufinger, Christian W. Hirsch and Christian W. Hirsch
ProfessorNew York University - Leonard N. Stern School of Business, Erasmus University Rotterdam (EUR), IESE Business School and University of FrankfurtLeibniz Institute for Financial Research SAFE
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Whatever It Takes: The Real Effects of Unconventional Monetary Policy

SAFE Working Paper No. 152
Posted: 25 Oct 2016 Last Revised: 08 May 2017
Viral V. Acharya, Viral V. Acharya, Tim Eisert, Christian Eufinger, Christian W. Hirsch and Christian W. Hirsch
ProfessorNew York University - Leonard N. Stern School of Business, Erasmus University Rotterdam (EUR), IESE Business School and University of FrankfurtLeibniz Institute for Financial Research SAFE

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Unconventional Monetary Policy, Real Effects, Zombie Lending

21.
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Citation 17

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: 61 Posted: 19 Mar 2010 Last Revised: 26 Nov 2018
Viral V. Acharya, Viral V. Acharya, Marc Gabarro and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business, University of Mannheim and Drexel University - Bennett S. LeBow College of Business
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Citation 16

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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, Viral V. Acharya, Marc Gabarro and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business, University of Mannheim and Drexel University - Bennett S. LeBow College of Business
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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, Viral V. Acharya, Marc Gabarro and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business, University of Mannheim and Drexel University - Bennett S. LeBow College of Business
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corporate governance, executive compensation, externalities

22.

In the Shadow of Banks: Wealth Management Products and Issuing Banks’ Risk in China

NYU Stern School of Business
Number of pages: 68 Posted: 18 Jun 2019 Last Revised: 01 Mar 2021
Viral V. Acharya, Viral V. Acharya, Jun "QJ" Qian, Yang Su and Zhishu Yang
ProfessorNew York University - Leonard N. Stern School of Business, Fanhai International School of Finance, Fudan University, University of Chicago Booth School of Business and Tsinghua University - School of Economics & Management
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Citation 32

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Shadow banking, off-balance sheet liabilities, deposit competition, fiscal stimulus, rollover risk.

23.
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Citation 10

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, Viral V. Acharya and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business and Drexel University - Bennett S. LeBow College of Business
Downloads 1,069 (28,062)
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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, Viral V. Acharya and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business and Drexel University - Bennett S. LeBow College of Business
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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, Viral V. Acharya and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business and Drexel University - Bennett S. LeBow College of Business
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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, Viral V. Acharya and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business and Drexel University - Bennett S. LeBow College of Business

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G34, J63, K22, K42, L14

24.

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
Viral V. Acharya, Viral V. Acharya, Thomas F. Cooley, Matthew P. Richardson and Ingo Walter
ProfessorNew 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
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Citation 6
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Systemic risk, Capital requirements, Regulatory arbitrage, Moral hazard, Too big to fail, Government guarantees, Originate and distribute, Global Imbalances, Greenspan put

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, Viral V. Acharya and Bart M. Lambrecht
ProfessorNew York University - Leonard N. Stern School of Business and University of Cambridge - Judge Business School
Downloads 787 (43,112)
Citation 1

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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, Viral V. Acharya and Bart M. Lambrecht
ProfessorNew York University - Leonard N. Stern School of Business and University of Cambridge - Judge Business School
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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, Viral V. Acharya and Bart M. Lambrecht
ProfessorNew York University - Leonard N. Stern School of Business and University of Cambridge - Judge Business School
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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 Last Revised: 09 May 2022
Viral V. Acharya, Viral V. Acharya and Bart M. Lambrecht
ProfessorNew York University - Leonard N. Stern School of Business and University of Cambridge - Judge Business School
Downloads 25 (668,461)
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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, Viral V. Acharya and Bart M. Lambrecht
ProfessorNew York University - Leonard N. Stern School of Business and University of Cambridge - Judge Business School
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accounting quality, asymmetric information, measurement error, payout policy, under-investment

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

Number of pages: 25 Posted: 23 Dec 2013
Viral V. Acharya, Viral V. Acharya and Sascha Steffen
ProfessorNew York University - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 873 (37,402)
Citation 37

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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, Viral V. Acharya and Sascha Steffen
ProfessorNew York University - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 260 (160,714)

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

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, Viral V. Acharya, Rangarajan K. Sundaram and Kose John
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 950 (33,211)
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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, Viral V. Acharya, Rangarajan K. Sundaram and Kose John
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
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Cross-Country Variations in Capital Structures: The Role of Bankruptcy Codes

Number of pages: 47 Posted: 15 Jun 2005
Viral V. Acharya, Viral V. Acharya, Kose John and Rangarajan K. Sundaram
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
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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, Viral V. Acharya, Yakov Amihud and Sreedhar T. Bharath
ProfessorNew York University - Leonard N. Stern School of Business, New York University - Stern School of Business and Arizona State University (ASU) - Finance Department
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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 Last Revised: 18 Apr 2022
Viral V. Acharya, Viral V. Acharya, Yakov Amihud and Sreedhar T. Bharath
ProfessorNew York University - Leonard N. Stern School of Business, New York University - Stern School of Business and Arizona State University (ASU) - Finance Department
Downloads 54 (505,484)
Citation 27

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29.
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Citation 81

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, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 331 (124,983)

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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, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 321 (129,116)
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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, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 185 (221,758)

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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, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 122 (311,195)

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Crisis Resolution and Bank Liquidity

NBER Working Paper No. w15567
Number of pages: 50 Posted: 08 Dec 2009 Last Revised: 14 Jan 2022
Viral V. Acharya, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 59 (484,748)

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30.

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, Viral V. Acharya and Sascha Steffen
ProfessorNew York University - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 1,014 (30,722)
Citation 31

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

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, Viral V. Acharya and Hassan Naqvi
ProfessorNew York University - Leonard N. Stern School of Business and Monash University
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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, Viral V. Acharya and Hassan Naqvi
ProfessorNew York University - Leonard N. Stern School of Business and Monash University
Downloads 179 (228,191)

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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, Viral V. Acharya and Hassan Naqvi
ProfessorNew York University - Leonard N. Stern School of Business and Monash University
Downloads 3 (869,189)
Citation 31
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bubbles, flight to quality, moral hazard

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, Viral V. Acharya, Denis Gromb and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business, HEC Paris and Koc University
Downloads 603 (61,160)
Citation 25

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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, Viral V. Acharya, Denis Gromb and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business, HEC Paris and Koc University
Downloads 361 (113,498)
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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, Viral V. Acharya, Denis Gromb and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business, HEC Paris and Koc University
Downloads 25 (668,461)

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33.
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Citation 141

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, Viral V. Acharya, Douglas M. Gale and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Economics and Koc University
Downloads 688 (51,600)
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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, Viral V. Acharya, Douglas M. Gale and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Economics and Koc University
Downloads 221 (188,191)
Citation 1

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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 Last Revised: 01 May 2022
Viral V. Acharya, Viral V. Acharya, Douglas M. Gale and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Economics and Koc University
Downloads 72 (436,768)
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Rollover Risk and Market Freezes

CEPR Discussion Paper No. DP7122
Number of pages: 56 Posted: 18 Feb 2009
Viral V. Acharya, Viral V. Acharya, Douglas M. Gale and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Economics and Koc University
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Citation 46
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asset-backed commercial paper, credit risk, haircut, liquidation cost, repo, secured borrowing

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, Viral V. Acharya, Conor Kehoe and Michael Reyner
ProfessorNew York University - Leonard N. Stern School of Business, McKinsey & Company, Inc. and MWM Consulting
Downloads 965 (32,480)
Citation 1

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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, Viral V. Acharya, Conor Kehoe and Michael Reyner
ProfessorNew York University - Leonard N. Stern School of Business, McKinsey & Company, Inc. and MWM Consulting
Downloads 5 (847,491)

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35.

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
Viral V. Acharya, Viral V. Acharya, Thomas F. Cooley, Matthew P. Richardson and Ingo Walter
ProfessorNew 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 968 (32,788)
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global financial crisis, LTCM, market failures, regulation, emerging markets

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

Number of pages: 46 Posted: 30 Mar 2000
Viral V. Acharya, Viral V. Acharya, Jing-Zhi Huang, Marti G. Subrahmanyam and Rangarajan K. Sundaram
ProfessorNew York University - Leonard N. Stern School of Business, Pennsylvania State University - University Park - Department of Finance, New York University (NYU) - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
Downloads 797 (42,389)
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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
Viral V. Acharya, Viral V. Acharya, Jing-Zhi Huang, Marti G. Subrahmanyam and Rangarajan K. Sundaram
ProfessorNew York University - Leonard N. Stern School of Business, Pennsylvania State University - University Park - Department of Finance, New York University (NYU) - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
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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
Viral V. Acharya, Viral V. Acharya, Jing-Zhi Huang, Marti G. Subrahmanyam and Rangarajan K. Sundaram
ProfessorNew York University - Leonard N. Stern School of Business, Pennsylvania State University - University Park - Department of Finance, New York University (NYU) - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
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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, Viral V. Acharya, Stephen M. Schaefer and Yili Zhang
ProfessorNew York University - Leonard N. Stern School of Business, London Business School - Institute of Finance and Accounting and London Business School
Downloads 911 (35,251)
Citation 42

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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, Viral V. Acharya, Stephen M. Schaefer and Yili Zhang
ProfessorNew York University - Leonard N. Stern School of Business, London Business School - Institute of Finance and Accounting and London Business School
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excess co-movement, financial crises, funding liquidity, inventory risk, market liquidity

38.

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 and Viral V. Acharya
ProfessorNew York University - Leonard N. Stern School of Business
Downloads 904 (36,108)
Citation 12

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

39.

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, Viral V. Acharya and Sascha Steffen
ProfessorNew York University - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 899 (36,383)

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Banks, Systemic risk, Europe

40.

Economics with Market Liquidity Risk

Critical Finance Review, special issue on “Liquidity: Replications, Extensions, and Critique”, Forthcoming, NYU Stern School of Business
Number of pages: 15 Posted: 14 Sep 2019
Viral V. Acharya, Viral V. Acharya and Lasse Heje Pedersen
ProfessorNew York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
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liquidity risk, asset pricing, financial crises, monetary policy, macroeconomics

41.
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Citation 88

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, Viral V. Acharya and S. Viswanathan
ProfessorNew York University - Leonard N. Stern School of Business and Duke University - Fuqua School of Business
Downloads 529 (72,257)

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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, Viral V. Acharya and S. Viswanathan
ProfessorNew York University - Leonard N. Stern School of Business and Duke University - Fuqua School of Business
Downloads 264 (158,234)
Citation 8

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Leverage, Moral Hazard and Liquidity

NBER Working Paper No. w15837
Number of pages: 46 Posted: 29 Mar 2010 Last Revised: 11 Apr 2021
Viral V. Acharya, Viral V. Acharya and S. Viswanathan
ProfessorNew York University - Leonard N. Stern School of Business and Duke University - Fuqua School of Business
Downloads 58 (488,814)

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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, Viral V. Acharya, Itamar Drechsler and Philipp Schnabl
ProfessorNew York University - Leonard N. Stern School of Business, Wharton School, Department of Finance and New York University (NYU) - Department of Finance
Downloads 627 (58,169)
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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 Last Revised: 29 Apr 2022
Viral V. Acharya, Viral V. Acharya, Itamar Drechsler and Philipp Schnabl
ProfessorNew York University - Leonard N. Stern School of Business, Wharton School, Department of Finance and New York University (NYU) - Department of Finance
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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, Viral V. Acharya, Itamar Drechsler and Philipp Schnabl
ProfessorNew York University - Leonard N. Stern School of Business, Wharton School, Department of Finance and New York University (NYU) - Department of Finance
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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, Viral V. Acharya, Itamar Drechsler and Philipp Schnabl
ProfessorNew York University - Leonard N. Stern School of Business, Wharton School, Department of Finance and New York University (NYU) - Department of Finance
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Citation 92
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credit default swaps, deleveraging, financial crises, forbearance, growth, sovereign debt

43.

Lender of Last Resort, Buyer of Last Resort, and a Fear of Fire Sales in the Sovereign Bond Market

ZEW - Centre for European Economic Research Discussion Paper No. 16-019, Swiss Finance Institute Research Paper No. 18-35
Number of pages: 67 Posted: 12 Apr 2016 Last Revised: 28 Dec 2020
Viral V. Acharya, Viral V. Acharya, Diane Pierret and Sascha Steffen
ProfessorNew York University - Leonard N. Stern School of Business, Universite du Luxembourg - Luxembourg School of Finance and Frankfurt School of Finance & Management
Downloads 716 (49,616)
Citation 3

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Bank-sovereign nexus, ECB, financial stability, unconventional monetary policy

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, Viral V. Acharya, Robert F. Engle and Diane Pierret
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Universite du Luxembourg - Luxembourg School of Finance
Downloads 651 (55,459)
Citation 31

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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 Last Revised: 01 May 2022
Viral V. Acharya, Viral V. Acharya, Robert F. Engle and Diane Pierret
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Universite du Luxembourg - Luxembourg School of Finance
Downloads 53 (509,788)
Citation 1

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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, Viral V. Acharya, Robert F. Engle and Diane Pierret
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Universite du Luxembourg - Luxembourg School of Finance
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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, Viral V. Acharya, Robert F. Engle and Diane Pierret
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Universite du Luxembourg - Luxembourg School of Finance
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Citation 1
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macroprudential regulation, risk-weighted assets, stress test, systemic risk

45.

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, Viral V. Acharya and Viral V. Acharya
Monash University and ProfessorNew York University - Leonard N. Stern School of Business
Downloads 704 (50,744)

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

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, Viral V. Acharya, Timothy C. Johnson and Timothy C. Johnson
ProfessorNew York University - Leonard N. Stern School of Business and University of IllinoisLondon Business School
Downloads 518 (74,110)
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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, Viral V. Acharya and Timothy C. Johnson
ProfessorNew York University - Leonard N. Stern School of Business and University of Illinois at Urbana-Champaign
Downloads 163 (247,245)

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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, Viral V. Acharya and Timothy C. Johnson
ProfessorNew York University - Leonard N. Stern School of Business and University of Illinois at Urbana-Champaign
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Citation 1
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asymmetric information, LBO, private equity, regulation

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: 65 Posted: 02 Dec 2013 Last Revised: 20 Nov 2018
Viral V. Acharya, Viral V. Acharya and Zhaoxia Xu
ProfessorNew York University - Leonard N. Stern School of Business and UNSW Australia Business School, School of Banking and Finance
Downloads 615 (59,660)
Citation 38

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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 Last Revised: 09 May 2021
Viral V. Acharya, Viral V. Acharya and Zhaoxia Xu
ProfessorNew York University - Leonard N. Stern School of Business and UNSW Australia Business School, School of Banking and Finance
Downloads 23 (684,003)
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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, Viral V. Acharya and Zhaoxia Xu
ProfessorNew York University - Leonard N. Stern School of Business and UNSW Australia Business School, School of Banking and Finance
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finance and growth, financial constraints, innovation, private firms, public firms, R&D

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, Viral V. Acharya, Iftekhar Hasan and Anthony Saunders
ProfessorNew York University - Leonard N. Stern School of Business, Fordham University and New York University - Leonard N. Stern School of Business
Downloads 458 (86,223)

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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, Viral V. Acharya, Iftekhar Hasan and Anthony Saunders
ProfessorNew York University - Leonard N. Stern School of Business, Fordham University and New York University - Leonard N. Stern School of Business
Downloads 126 (303,782)

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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, Viral V. Acharya, Anthony Saunders and Iftekhar Hasan
ProfessorNew York University - Leonard N. Stern School of Business, New York University - Leonard N. Stern School of Business and Fordham University
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Focus, diversification, monitoring, bank risk, bank return

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, Viral V. Acharya and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business and Koc University
Downloads 612 (60,010)
Citation 135

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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

Number of pages: 32 Posted: 06 Mar 2005
Viral V. Acharya, Viral V. Acharya and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business and Koc University
Downloads 23 (684,003)
Citation 23
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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, Viral V. Acharya and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business and Koc University

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

Banks’ Financial Reporting and Financial System Stability

Journal of Accounting Research, Forthcoming
Number of pages: 96 Posted: 03 Feb 2016
Viral V. Acharya, Viral V. Acharya and Stephen G. Ryan
ProfessorNew York University - Leonard N. Stern School of Business and New York University (NYU) - Leonard N. Stern School of Business
Downloads 393 (102,957)
Citation 15

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G01, G21, G28, M41, M48

Banks’ Financial Reporting and Financial System Stability

Number of pages: 121 Posted: 16 Dec 2015
Viral V. Acharya, Viral V. Acharya and Stephen G. Ryan
ProfessorNew York University - Leonard N. Stern School of Business and New York University (NYU) - Leonard N. Stern School of Business
Downloads 235 (177,516)
Citation 42

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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, Viral V. Acharya and Stephen G. Ryan
ProfessorNew York University - Leonard N. Stern School of Business and New York University (NYU) - Leonard N. Stern School of Business

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

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, Viral V. Acharya and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business and Koc University
Downloads 586 (63,425)
Citation 12

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

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

Number of pages: 51 Posted: 05 Mar 2003
Viral V. Acharya, Viral V. Acharya and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business and Koc University
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Systemic risk, contagion, herding, procyclicality, information spillover, interbank correlation

52.
Downloads 608 ( 61,255)
Citation 62

Labor Laws and Innovation

Number of pages: 46 Posted: 27 Jan 2009 Last Revised: 22 Dec 2013
Viral V. Acharya, Viral V. Acharya, Ramin Baghai and Krishnamurthy Subramanian
ProfessorNew York University - Leonard N. Stern School of Business, Stockholm School of Economics and Indian School of Business (ISB), Hyderabad
Downloads 450 (87,948)
Citation 9

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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, Viral V. Acharya, Ramin Baghai and Krishnamurthy Subramanian
ProfessorNew York University - Leonard N. Stern School of Business, Stockholm School of Economics and Indian School of Business (ISB), Hyderabad
Downloads 108 (339,519)
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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 Last Revised: 16 Jan 2022
Viral V. Acharya, Viral V. Acharya, Ramin Baghai and Krishnamurthy Subramanian
ProfessorNew York University - Leonard N. Stern School of Business, Stockholm School of Economics and Indian School of Business (ISB), Hyderabad
Downloads 46 (542,159)

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Labor Laws and Innovation

CEPR Discussion Paper No. DP7171
Number of pages: 49 Posted: 18 Feb 2009
Viral V. Acharya, Viral V. Acharya, Ramin Baghai and Krishnamurthy Subramanian
ProfessorNew York University - Leonard N. Stern School of Business, Stockholm School of Economics and Indian School of Business (ISB), Hyderabad
Downloads 4 (857,977)
Citation 14
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Entrepreneurship, Growth, Labor laws, Law and finance, R&D, Technological change

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, Viral V. Acharya and Viral V. Acharya
New York University (NYU) - Department of Finance and ProfessorNew York University - Leonard N. Stern School of Business
Downloads 568 (66,061)
Citation 1

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

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

Number of pages: 46 Posted: 21 May 2002
Jennifer N. Carpenter, Viral V. Acharya and Viral V. Acharya
New York University (NYU) - Department of Finance and ProfessorNew York University - Leonard N. Stern School of Business
Downloads 28 (646,448)
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Corporate bonds, call, default, stochastic interest rates, endogenous bankruptcy, optimal exercise boundary, hedging, duration

54.
Downloads 584 ( 64,465)
Citation 15

Systemic Risk and Deposit Insurance Premiums

Economic Policy Review, Forthcoming
Number of pages: 11 Posted: 31 Oct 2009
Viral V. Acharya, Viral V. Acharya, João A. C. Santos and Tanju Yorulmazer
ProfessorNew York University - Leonard N. Stern School of Business, Federal Reserve Bank of New York and Koc University
Downloads 377 (108,070)
Citation 8

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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, Viral V. Acharya, Tanju Yorulmazer and João A. C. Santos
ProfessorNew York University - Leonard N. Stern School of Business, Koc University and Federal Reserve Bank of New York
Downloads 207 (200,323)
Citation 13

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

Is the International Convergence of Capital Adequacy Regulation Desirable?

Number of pages: 53 Posted: 09 May 2000
Viral V. Acharya and Viral V. Acharya
ProfessorNew York University - Leonard N. Stern School of Business
Downloads 546 (69,377)
Citation 9

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

Is the International Convergence of Capital Adequacy Regulation Desirable?

Number of pages: 41 Posted: 09 Apr 2002
Viral V. Acharya and Viral V. Acharya
ProfessorNew York University - Leonard N. Stern School of Business
Downloads 30 (632,757)
Citation 11
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Bank regulation, capital adequacy, closure policy, risk-shifting, financial integration, international spillovers

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, Viral V. Acharya and Alberto Bisin
ProfessorNew York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Economics
Downloads 450 (87,948)
Citation 12

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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, Viral V. Acharya and Viral V. Acharya
New York University (NYU) - Department of Economics and ProfessorNew York University - Leonard N. Stern School of Business
Downloads 85 (396,549)
Citation 28

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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 Last Revised: 15 Dec 2021
Viral V. Acharya, Viral V. Acharya and Alberto Bisin
ProfessorNew York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Economics
Downloads 33 (613,492)
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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
Viral V. Acharya, Viral V. Acharya, Heitor Almeida, Filippo Ippolito, Filippo Ippolito and Ander Perez-Orive
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign, Universitat Pompeu Fabra - Faculty of Economic and Business SciencesBarcelona Graduate School of Economics and Board of Governors of the Federal Reserve System
Downloads 487 (80,051)
Citation 2

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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
Filippo Ippolito, Filippo Ippolito, Viral V. Acharya, Viral V. Acharya, Heitor Almeida and Ander Perez-Orive
Universitat Pompeu Fabra - Faculty of Economic and Business SciencesBarcelona Graduate School of Economics, ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign and Board of Governors of the Federal Reserve System
Downloads 54 (505,484)
Citation 2

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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 Last Revised: 14 Feb 2021
Viral V. Acharya, Viral V. Acharya, Heitor Almeida, Filippo Ippolito, Filippo Ippolito and Ander Perez-Orive
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Urbana-Champaign, Universitat Pompeu Fabra - Faculty of Economic and Business SciencesBarcelona Graduate School of Economics and Board of Governors of the Federal Reserve System
Downloads 14 (759,923)
Citation 21

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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, Viral V. Acharya, Hamid Mehran and Anjan V. Thakor
ProfessorNew York University - Leonard N. Stern School of Business, Independent and Washington University, Saint Louis - John M. Olin School of Business
Downloads 426 (93,820)
Citation 2

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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, Viral V. Acharya, Hamid Mehran and Anjan V. Thakor
ProfessorNew York University - Leonard N. Stern School of Business, Independent and Washington University, Saint Louis - John M. Olin School of Business
Downloads 119 (316,967)
Citation 1

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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, Viral V. Acharya, Hamid Mehran and Anjan V. Thakor
ProfessorNew York University - Leonard N. Stern School of Business, Independent and Washington University, Saint Louis - John M. Olin School of Business
Downloads 10 (797,700)
Citation 9