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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

  • New York University - Leonard N. Stern School of Business

SCHOLARLY PAPERS

117

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89,549

CITATIONS
Rank 115

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Top 115

in Total Papers Citations

2,397

Scholarly Papers (117)

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1.

Measuring Systemic Risk

Downloads 9,172 ( 449)
Citation 100

Measuring Systemic Risk

AFA 2011 Denver Meetings Paper
Number of pages: 46 Posted: 22 Mar 2010 Last Revised: 09 Aug 2010
Viral V. Acharya, Lasse Heje Pedersen, Thomas Philippon and Matthew P. Richardson
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 5,334 (1,157)
Citation 100

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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, Lasse Heje Pedersen, Thomas Philippon and Matthew P. Richardson
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 3,824 (2,050)
Citation 100

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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, Lasse Heje Pedersen, Thomas Philippon and Matthew P. Richardson
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 (534,754)
Citation 100
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bailout, financial regulation, systemic risk, value at risk

2.

A Theory of Systemic Risk and Design of Prudential Bank Regulation

Downloads 5,144 ( 1,248)
Citation 86

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 3,402 (2,524)
Citation 86

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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
New York University - Leonard N. Stern School of Business
Downloads 1,733 (8,033)
Citation 86

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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
New York University - Leonard N. Stern School of Business
Downloads 9 (564,998)
Citation 86
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Bank regulation, Capital adequacy, Crisis, Risk-shifting, Systemic risk

3.

Corporate Governance and Value Creation: Evidence from Private Equity

Downloads 4,502 ( 1,568)
Citation 45

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 3,552 (2,348)
Citation 45

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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, 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 892 (22,686)
Citation 45

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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, Moritz Hahn and Conor Kehoe
New York University - Leonard N. Stern School of Business, Ludwig Maximilian University of Munich and McKinsey & Company, Inc.
Downloads 58 (338,815)
Citation 45
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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 and Matthew P. Richardson
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
Downloads 3,703 (2,221)
Citation 28

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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, 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 3,386 (2,603)
Citation 2

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

6.

Asset Pricing with Liquidity Risk

Downloads 3,250 ( 2,792)
Citation 410

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 2,582 (4,081)
Citation 409

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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 and Lasse Heje Pedersen
New York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
Downloads 276 (100,234)
Citation 410

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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 and Lasse Heje Pedersen
New York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
Downloads 208 (133,639)
Citation 410

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Asset Pricing with Liquidity Risk

NBER Working Paper No. w10814
Number of pages: 60 Posted: 18 Oct 2004 Last Revised: 21 Jul 2010
Viral V. Acharya and Lasse Heje Pedersen
New York University - Leonard N. Stern School of Business and AQR Capital Management, LLC
Downloads 93 (257,729)
Citation 410

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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 (373,886)
Citation 410
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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 (384,319)
Citation 410
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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

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

7.

Creditor Rights and Corporate Risk-Taking

Downloads 2,715 ( 3,826)
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 1,038 (18,052)
Citation 30

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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, 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 682 (32,981)
Citation 30

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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, 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 397 (66,100)
Citation 30

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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 300 (91,471)
Citation 30

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Creditor Rights and Corporate Risk-Taking

NBER Working Paper No. w15569
Number of pages: 61 Posted: 08 Dec 2009 Last Revised: 18 Jul 2010
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 296 (92,881)
Citation 30

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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, 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 (610,606)
Citation 30
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Bankruptcy, Default, Diversification, Managerial turnover, Recovery

8.

Insider Trading in Credit Derivatives

Downloads 2,339 ( 4,928)
Citation 113

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 2,317 (4,909)
Citation 113

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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 and Timothy C. Johnson
New York University - Leonard N. Stern School of Business and London Business School
Downloads 22 (486,368)
Citation 113
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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 and Timothy C. Johnson
New York University - Leonard N. Stern School of Business and London Business School

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

9.

Pricing Credit Derivatives with Rating Transitions

Downloads 1,891 ( 7,040)
Citation 6

Pricing Credit Derivatives with Rating Transitions

Number of pages: 30 Posted: 22 Oct 2001
Viral V. Acharya, Sanjiv Ranjan Das and Rangarajan K. Sundaram
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 1,616 (8,988)
Citation 6

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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, Sanjiv Ranjan Das and Rangarajan K. Sundaram
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 119 (216,378)
Citation 6

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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, Sanjiv Ranjan Das and Rangarajan K. Sundaram
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 62 (327,504)
Citation 6

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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, Sanjiv Ranjan Das and Rangarajan K. Sundaram
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 52 (357,437)
Citation 6

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Pricing Credit Derivatives with Rating Transitions

CEPR Discussion Paper No. 3329
Number of pages: 34 Posted: 21 May 2002
Viral V. Acharya, Sanjiv Ranjan Das and Rangarajan K. Sundaram
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 (391,811)
Citation 6
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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, Sanjiv Ranjan Das and Rangarajan K. Sundaram
New 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, Sanjiv Ranjan Das and Rangarajan K. Sundaram
New 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

10.

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

Downloads 1,874 ( 7,157)
Citation 29

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 (BIS)
Downloads 1,788 (7,643)
Citation 29

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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
Viral V. Acharya, Irvind Gujral, Nirupama Kulkarni and Hyun Song Shin
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 (BIS)
Downloads 75 (294,653)
Citation 29

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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, Irvind Gujral, Nirupama Kulkarni and Hyun Song Shin
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 (BIS)
Downloads 11 (553,140)
Citation 28
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asset substitution, crisis, regulatory capital, risk-shifting

11.

Private Equity: Boom and Bust?

Downloads 1,686 ( 8,566)
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 - Institute of Finance and Accounting and London Business School
Downloads 1,655 (8,656)
Citation 10

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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, Julian R. Franks and Henri Servaes
New York University - Leonard N. Stern School of Business, London Business School - Institute of Finance and Accounting and London Business School
Downloads 31 (437,485)
Citation 10
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12.

Should Banks Be Diversified? Evidence from Individual Bank Loan Portfolios

Downloads 1,660 ( 8,739)
Citation 58

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 Fordham University - Gabelli School of Business
Downloads 1,660 (8,603)
Citation 58

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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 Fordham University - Gabelli School of Business

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Focus, Diversification, Monitoring, Bank risk, Bank return

13.

Contract Renegotiation and the Optimality of Resetting Executive Stock Options

Downloads 1,646 ( 8,895)
Citation 44

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 1,615 (8,998)
Citation 44

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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, 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 (437,485)
Citation 43

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14.

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

Downloads 1,610 ( 9,203)
Citation 97

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 - Samuel Curtis Johnson Graduate School of Management
Downloads 1,532 (9,799)
Citation 97

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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: 18 Aug 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 - Samuel Curtis Johnson Graduate School of Management
Downloads 57 (341,753)
Citation 97

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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 - Samuel Curtis Johnson Graduate School of Management
Downloads 21 (492,342)
Citation 97
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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, Heitor Almeida and Murillo Campello
New 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

15.

Cash Holdings and Credit Risk

Downloads 1,589 ( 9,418)
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 1,522 (9,910)
Citation 26

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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
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 60 (333,061)
Citation 26

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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, 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 7 (576,828)
Citation 26
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Credit spreads, Default, Liquidity, Precautionary savings

16.

Securitization Without Risk Transfer

Downloads 1,503 ( 10,325)
Citation 72

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 1,350 (12,056)
Citation 72

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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 Jun 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 142 (189,123)
Citation 72

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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 (553,140)
Citation 72
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asset-backed commercial paper (ABCP), bank capital, conduits, regulatory arbitrage, shadow banking, structured investment vehicle (SIV)

17.

The Internal Governance of Firms

Downloads 1,454 ( 10,872)
Citation 26

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 1,017 (18,575)
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, 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 232 (119,966)
Citation 26

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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 164 (166,390)
Citation 26

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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: 17 Jul 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 38 (407,237)
Citation 26

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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, 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 (601,448)
Citation 26
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Agency theory, Corporate governance, Dividends, Internal organization, Short-termism

18.

Limits to Arbitrage and Hedging: Evidence from Commodity Markets

Downloads 1,389 ( 11,745)
Citation 23

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 804 (26,380)
Citation 23

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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, 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
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Citation 23

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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, 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
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Citation 23

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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
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
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Citation 23

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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, 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
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Citation 23
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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, 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

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19.

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

Downloads 1,354 ( 12,249)

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, Tim Eisert, Christian Eufinger and Christian W. Hirsch
New York University - Leonard N. Stern School of Business, Erasmus University Rotterdam (EUR), IESE Business School and University of Frankfurt
Downloads 1,353 (12,008)

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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, Tim Eisert, Christian Eufinger and Christian W. Hirsch
New York University - Leonard N. Stern School of Business, Erasmus University Rotterdam (EUR), IESE Business School and University of Frankfurt
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credit contraction, European sovereign debt crisis, financing constraints, real effects

20.

Competition for Managers and Corporate Governance

Downloads 1,254 ( 13,771)
Citation 10

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 and City University London - Faculty of Finance
Downloads 915 (21,809)
Citation 10

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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, Marc Gabarro and Paolo F. Volpin
New York University - Leonard N. Stern School of Business, University of Mannheim and City University London - Faculty of Finance
Downloads 335 (80,730)
Citation 10

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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, Marc Gabarro and Paolo F. Volpin
New York University - Leonard N. Stern School of Business, University of Mannheim and City University London - Faculty of Finance
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Citation 10
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corporate governance, executive compensation, externalities

21.

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, Thomas F. Cooley, Matthew P. Richardson and Ingo Walter
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
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Citation 10
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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

22.

Corporate Governance Externalities

Downloads 1,179 ( 15,153)
Citation 26

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 1,009 (18,830)
Citation 26

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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 and Paolo F. Volpin
New York University - Leonard N. Stern School of Business and City University London - Faculty of Finance
Downloads 164 (166,390)
Citation 26

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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 and Paolo F. Volpin
New York University - Leonard N. Stern School of Business and City University London - Faculty of Finance
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Citation 26
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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 and Paolo F. Volpin
New York University - Leonard N. Stern School of Business and City University London - Faculty of Finance

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G34, J63, K22, K42, L14

23.

A Theory of Income Smoothing When Insiders Know More than Outsiders

Downloads 1,104 ( 16,797)
Citation 3

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 694 (32,164)
Citation 3

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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 and Bart M. Lambrecht
New York University - Leonard N. Stern School of Business and University of Cambridge - Judge Business School
Downloads 227 (123,221)
Citation 3

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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 and Bart M. Lambrecht
New York University - Leonard N. Stern School of Business and University of Cambridge - Judge Business School
Downloads 162 (168,178)
Citation 3

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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
Viral V. Acharya and Bart M. Lambrecht
New York University - Leonard N. Stern School of Business and University of Cambridge - Judge Business School
Downloads 19 (504,588)
Citation 3

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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 and Bart M. Lambrecht
New 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

24.

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

Downloads 1,068 ( 17,625)
Citation 25

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 899 (22,357)
Citation 25

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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, 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 135 (195,930)
Citation 25

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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
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Citation 25
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Leverage, bankruptcy costs, asset-specificity, intangibles, financial distress

25.

Liquidity Risk of Corporate Bond Returns: A Conditional Approach

Downloads 973 ( 20,251)
Citation 18

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 (ASU) - Finance Department
Downloads 927 (21,372)
Citation 18

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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: 17 Oct 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 (ASU) - Finance Department
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Citation 18

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26.

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

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Citation 1

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 Frankfurt School of Finance & Management
Downloads 765 (28,246)
Citation 1

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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 and Sascha Steffen
New York University - Leonard N. Stern School of Business and Frankfurt School of Finance & Management
Downloads 184 (150,015)
Citation 1

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

27.

Crisis Resolution and Bank Liquidity

Downloads 937 ( 21,422)
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 (BIS) and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 306 (89,427)
Citation 29

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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, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 293 (93,886)
Citation 25

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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, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 176 (156,164)
Citation 29

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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, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 112 (226,296)
Citation 29

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Crisis Resolution and Bank Liquidity

NBER Working Paper No. w15567
Number of pages: 50 Posted: 08 Dec 2009 Last Revised: 16 Jul 2010
Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 50 (363,877)
Citation 25

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28.

Rollover Risk and Market Freezes

Downloads 930 ( 21,683)
Citation 65

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 652 (35,186)
Citation 65

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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, 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 211 (131,780)
Citation 65

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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
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 62 (327,504)
Citation 65

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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, 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)
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Citation 65
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asset-backed commercial paper, credit risk, haircut, liquidation cost, repo, secured borrowing

29.

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

Downloads 912 ( 22,393)
Citation 29

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, HEC Paris and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 558 (43,338)
Citation 29

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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, Denis Gromb and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, HEC Paris and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 342 (78,782)
Citation 29

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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, Denis Gromb and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business, HEC Paris and University of Amsterdam - Faculty of Economics and Business (FEB)
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Citation 29

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30.

Whatever It Takes: The Real Effects of Unconventional Monetary Policy

Downloads 904 ( 22,806)

Whatever It Takes: The Real Effects of Unconventional Monetary Policy

Number of pages: 75 Posted: 02 Mar 2016 Last Revised: 05 Feb 2018
Viral V. Acharya, Tim Eisert, Christian Eufinger and Christian W. Hirsch
New York University - Leonard N. Stern School of Business, Erasmus University Rotterdam (EUR), IESE Business School and University of Frankfurt
Downloads 904 (22,401)

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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, Tim Eisert, Christian Eufinger and Christian W. Hirsch
New York University - Leonard N. Stern School of Business, Erasmus University Rotterdam (EUR), IESE Business School and University of Frankfurt
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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, Tim Eisert, Christian Eufinger and Christian W. Hirsch
New York University - Leonard N. Stern School of Business, Erasmus University Rotterdam (EUR), IESE Business School and University of Frankfurt

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Unconventional Monetary Policy, Real Effects, Zombie Lending

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 Frankfurt School of Finance & Management
Downloads 898 (22,893)
Citation 7

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

32.

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

Downloads 895 ( 22,970)
Citation 5

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

EFA 0274
Number of pages: 46 Posted: 30 Mar 2000
Viral V. Acharya, Jing-Zhi Huang, Marti G. Subrahmanyam and Rangarajan K. Sundaram
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 779 (27,520)
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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, Jing-Zhi Huang, Marti G. Subrahmanyam and Rangarajan K. Sundaram
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
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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, Jing-Zhi Huang, Marti G. Subrahmanyam and Rangarajan K. Sundaram
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
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33.

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

Downloads 848 ( 24,777)
Citation 22

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 846 (24,457)
Citation 22

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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, 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
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Citation 22
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excess co-movement, financial crises, funding liquidity, inventory risk, market liquidity

34.

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

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Citation 4

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 665 (34,260)
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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 and Hassan Naqvi
New York University - Leonard N. Stern School of Business and SKK Graduate School of Business
Downloads 160 (169,966)
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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 and Hassan Naqvi
New York University - Leonard N. Stern School of Business and SKK Graduate School of Business
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bubbles, flight to quality, moral hazard

35.

Leverage, Moral Hazard and Liquidity

Downloads 823 ( 25,945)
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 513 (48,000)
Citation 54

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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 and S. Viswanathan
New York University - Leonard N. Stern School of Business and Duke University - Fuqua School of Business
Downloads 257 (108,450)
Citation 54

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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 53 (354,240)
Citation 54

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36.

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, Thomas F. Cooley, Matthew P. Richardson and Ingo Walter
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 772 (28,439)
Citation 1

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

37.

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

Downloads 729 ( 30,640)
Citation 10

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 727 (30,254)
Citation 10

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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, Conor Kehoe and Michael Reyner
New York University - Leonard N. Stern School of Business, McKinsey & Company, Inc. and MWM Consulting
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Citation 10
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38.

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 Frankfurt School of Finance & Management
Downloads 719 (31,193)
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Banks, Systemic risk, Europe

39.

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

Downloads 631 ( 37,222)
Citation 14

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
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Citation 14

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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 and Timothy C. Johnson
New York University - Leonard N. Stern School of Business and University of Illinois at Urbana-Champaign
Downloads 142 (188,061)
Citation 14

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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 and Timothy C. Johnson
New York University - Leonard N. Stern School of Business and University of Illinois at Urbana-Champaign
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Citation 14
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asymmetric information, LBO, private equity, regulation

40.

A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk

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Citation 38

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 556 (43,338)
Citation 38

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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
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 38 (407,237)
Citation 38

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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, 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 27 (457,566)
Citation 38

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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, 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
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Citation 38
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credit default swaps, deleveraging, financial crises, forbearance, growth, sovereign debt

41.

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

Downloads 577 ( 41,856)
Citation 35

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 549 (44,170)
Citation 35

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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

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
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Citation 35
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Corporate bonds, call, default, stochastic interest rates, endogenous bankruptcy, optimal exercise boundary, hedging, duration

42.

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

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Citation 3

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 535 (45,491)
Citation 3

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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

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

43.

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 564 (43,174)
Citation 1

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

44.

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

Downloads 555 ( 44,011)
Citation 18

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, Fordham University - Gabelli School of Business and New York University - Leonard N. Stern School of Business
Downloads 399 (65,722)
Citation 17

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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, Iftekhar Hasan and Anthony Saunders
New York University - Leonard N. Stern School of Business, Fordham University - Gabelli School of Business and New York University - Leonard N. Stern School of Business
Downloads 104 (238,663)
Citation 17

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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, Anthony Saunders and Iftekhar Hasan
New York University - Leonard N. Stern School of Business, New York University - Leonard N. Stern School of Business and Fordham University - Gabelli School of Business
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Citation 18
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Focus, diversification, monitoring, bank risk, bank return

45.

Labor Laws and Innovation

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Citation 24

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 401 (65,323)
Citation 24

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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, 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 100 (245,453)
Citation 24

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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: 29 Oct 2014
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
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Citation 24

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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
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Citation 24
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Entrepreneurship, Growth, Labor laws, Law and finance, R&D, Technological change

46.

Is the International Convergence of Capital Adequacy Regulation Desirable?

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Citation 28

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 509 (48,478)
Citation 28

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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?

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
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Citation 28
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Bank regulation, capital adequacy, closure policy, risk-shifting, financial integration, international spillovers

47.

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

Downloads 533 ( 46,283)
Citation 72

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 510 (48,367)
Citation 72

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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

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)
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Citation 72
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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 and Tanju Yorulmazer
New York University - Leonard N. Stern School of Business and University of Amsterdam - Faculty of Economics and Business (FEB)

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

48.

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

Downloads 525 ( 47,204)
Citation 12

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 419 (61,929)
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 and Viral V. Acharya
New York University (NYU) - Department of Economics and New York University - Leonard N. Stern School of Business
Downloads 80 (283,397)
Citation 12

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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
Viral V. Acharya and Alberto Bisin
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Economics
Downloads 26 (463,092)
Citation 12

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49.

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

Downloads 521 ( 47,660)
Citation 19

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 403 (64,931)
Citation 19

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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, 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 108 (232,362)
Citation 19

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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, 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
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Citation 19
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asset substitution, bailout, market discipline, systemic risk

50.

Banks’ Financial Reporting and Financial System Stability

Downloads 516 ( 48,241)

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 302 (90,766)

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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 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 214 (129,997)

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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 and Stephen G. Ryan
New 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

51.

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

Downloads 508 ( 49,344)

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 UNSW Australia Business School, School of Banking and Finance
Downloads 498 (50,009)

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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: 03 Oct 2014
Viral V. Acharya and Zhaoxia Xu
New York University - Leonard N. Stern School of Business and UNSW Australia Business School, School of Banking and Finance
Downloads 10 (559,137)

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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 and Zhaoxia Xu
New 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

52.

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, Swiss Finance Institute Research Paper No. 18-35
Number of pages: 63 Posted: 12 Apr 2016 Last Revised: 15 May 2018
Viral V. Acharya, Diane Pierret and Sascha Steffen
New York University - Leonard N. Stern School of Business, HEC - University of Lausanne and Frankfurt School of Finance & Management
Downloads 503 (50,610)

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Bank-sovereign nexus, ECB, fire sales, unconventional monetary policy

53.

Testing Macroprudential Stress Tests: The Risk of Regulatory Risk Weights

Downloads 494 ( 50,997)
Citation 4

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 472 (53,469)
Citation 4

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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
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 18 (510,588)
Citation 4

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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, 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 (610,606)
Citation 4
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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, 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 (610,606)
Citation 4
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macroprudential regulation, risk-weighted assets, stress test, systemic risk

54.

Systemic Risk and Deposit Insurance Premiums

Downloads 494 ( 50,997)
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 358 (74,721)
Citation 15

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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, 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 136 (194,776)
Citation 15

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

55.

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

Downloads 491 ( 51,396)
Citation 5

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 365 (72,973)
Citation 5

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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
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Citation 5

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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 6 (582,557)
Citation 5

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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
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Citation 5
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executive compensation, managerial talent, managerial turnover, short-termism

56.

Credit Lines as Monitored Liquidity Insurance: Theory and Evidence

Downloads 485 ( 52,164)
Citation 6

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, Heitor Almeida, Filippo Ippolito and Ander Perez-Orive
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 442 (57,983)
Citation 6

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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, Viral V. Acharya, Heitor Almeida and Ander Perez-Orive
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 38 (407,237)
Citation 6

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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
Viral V. Acharya, Heitor Almeida, Filippo Ippolito and Ander Perez-Orive
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 5 (588,481)
Citation 6

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57.

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

Downloads 478 ( 53,175)
Citation 46

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 478 (52,596)
Citation 46

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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)

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G21, G28, G38, E58, D62

58.

Fire-Sale FDI

Downloads 463 ( 55,478)
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 (BIS) and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 319 (85,351)
Citation 15

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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 (BIS) and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 143 (188,061)
Citation 15

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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 (BIS) and University of Amsterdam - Faculty of Economics and Business (FEB)
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Citation 15
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capital flight, FDI flows, financial crises, fire sales, foreign takeovers

59.

Endogenous Information Flows and the Clustering of Announcements

Downloads 447 ( 57,770)
Citation 14

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 350 (76,697)
Citation 14

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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 60 (333,061)
Citation 14

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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 25 (468,793)
Citation 14

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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
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Citation 14
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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
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Citation 14
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disclosure dynamics, disclosure timing, disclosure,, earnings announcement, skewness, stochastic volatility, strategic disclosure

60.

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 441 (58,750)
Citation 2

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

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)
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Citation 3

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

62.

Managerial Hedging, Equity Ownership and Firm Value

Downloads 428 ( 60,921)
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 428 (60,315)
Citation 11

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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

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

63.

Sovereign Debt, Government Myopia, and the Financial Sector

Downloads 425 ( 61,479)
Citation 4

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 382 (69,174)
Citation 4

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Sovereign Debt, Government Myopia, and the Financial Sector

NBER Working Paper No. w17542
Number of pages: 63 Posted: 29 Oct 2011 Last Revised: 01 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 37 (411,401)
Citation 4

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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
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Citation 4
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ability to pay, political economy, sovereign default, willingness to pay

64.

Finance and Efficiency: Do Bank Branching Regulations Matter?

Downloads 404 ( 65,351)
Citation 9

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 313 (87,222)
Citation 9

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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 (380,815)
Citation 9

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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 42 (391,811)
Citation 9

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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
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Citation 9
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Diversification, Financial development, Growth, Sharpe ratio, Volatility

65.

Bankruptcy Codes and Innovation

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Citation 42

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 397 (66,100)
Citation 42

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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 (610,606)
Citation 42
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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

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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

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G3, K2, O3, O4, O5

66.

Wrongful Discharge Laws and Innovation

Downloads 348 ( 77,817)
Citation 16

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 330 (82,092)
Citation 16

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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 Last Revised: 14 Apr 2016
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
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Citation 16

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67.

When Does Strategic Debt-Service Matter?

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Citation 21

When Does Strategic Debt-Service Matter?

Number of pages: 45 Posted: 27 May 2002
Rangarajan K. Sundaram, Viral V. Acharya, Jing-Zhi Huang and Marti G. Subrahmanyam
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 252 (110,199)
Citation 21

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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
Viral V. Acharya, Jing-Zhi Huang, Marti G. Subrahmanyam and Rangarajan K. Sundaram
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 34 (424,207)
Citation 21

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When Does Strategic Debt-Service Matter?

CEPR Discussion Paper No. 3566
Number of pages: 47 Posted: 13 Nov 2002
Viral V. Acharya, Jing-Zhi Huang, Marti G. Subrahmanyam and Rangarajan K. Sundaram
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
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Citation 21
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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
Viral V. Acharya, Jing-Zhi Huang, Marti G. Subrahmanyam and Rangarajan K. Sundaram
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 15 (528,605)
Citation 21

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When Does Strategic Debt Service Matter?

Economic Theory, pp. 1-16, April 2006
Posted: 09 May 2006
Viral V. Acharya, Jing-Zhi Huang, Marti G. Subrahmanyam and Rangarajan K. Sundaram
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

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

68.

A Crisis of Banks as Liquidity Providers

Downloads 317 ( 87,098)
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 233 (120,488)
Citation 9

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