Michael Schwert

University of Pennsylvania - The Wharton School

3641 Locust Walk

Philadelphia, PA 19104-6365

United States

SCHOLARLY PAPERS

11

DOWNLOADS
Rank 6,586

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Top 6,586

in Total Papers Downloads

7,276

SSRN CITATIONS
Rank 10,766

SSRN RANKINGS

Top 10,766

in Total Papers Citations

78

CROSSREF CITATIONS

25

Scholarly Papers (11)

1.

Municipal Bond Liquidity and Default Risk

Journal of Finance, Forthcoming, Fisher College of Business Working Paper No. 2016-03-16, Charles A. Dice Center Working Paper No. 2016-16
Number of pages: 55 Posted: 15 Mar 2014 Last Revised: 08 Nov 2016
Michael Schwert
University of Pennsylvania - The Wharton School
Downloads 1,631 (11,410)
Citation 19

Abstract:

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municipal bonds, credit risk

2.

Bank Capital and Lending Relationships

Journal of Finance, Forthcoming, Fisher College of Business Working Paper No. 2016-03-17, Charles A. Dice Center Working Paper No. 2016-17
Number of pages: 63 Posted: 15 Nov 2015 Last Revised: 11 Apr 2017
Michael Schwert
University of Pennsylvania - The Wharton School
Downloads 1,359 (15,175)
Citation 40

Abstract:

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banks, bank capital, lending relationships, syndicated loans

3.

Capital Structure and Systematic Risk

Rock Center for Corporate Governance at Stanford University Working Paper No. 178
Number of pages: 34 Posted: 08 Apr 2014 Last Revised: 14 Apr 2014
Michael Schwert and Ilya A. Strebulaev
University of Pennsylvania - The Wharton School and Stanford University - Graduate School of Business
Downloads 1,270 (16,830)
Citation 7

Abstract:

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capital structure, systematic risk

Does Borrowing from Banks Cost More than Borrowing from the Market?

Journal of Finance, Forthcoming
Number of pages: 62 Posted: 27 Oct 2017 Last Revised: 20 Aug 2019
Michael Schwert
University of Pennsylvania - The Wharton School
Downloads 1,122 (20,020)
Citation 9

Abstract:

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credit spreads, syndicated loans, corporate bonds, banking

Does Borrowing from Banks Cost More than Borrowing from the Market?

Number of pages: 60 Posted: 21 May 2018
Michael Schwert
University of Pennsylvania - The Wharton School
Downloads 108 (275,674)
Citation 4

Abstract:

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credit spreads, syndicated loans, corporate bonds, banking

5.
Downloads 762 ( 35,306)
Citation 3

The Economics of PIPEs

Jongha Lim, Michael Schwert and Michael S. Weisbach, Journal of Financial Intermediation (Forthcoming)
Number of pages: 54 Posted: 21 Oct 2017 Last Revised: 29 Aug 2019
Jongha Lim, Michael Schwert and Michael S. Weisbach
California State University, Fullerton - Department of Finance, University of Pennsylvania - The Wharton School and Ohio State University (OSU) - Department of Finance
Downloads 750 (35,543)
Citation 3

Abstract:

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PIPE, private placement, alternative investment, hedge fund, private equity fund, warrant

The Economics of Pipes

NBER Working Paper No. w23967
Number of pages: 52 Posted: 30 Oct 2017 Last Revised: 06 Nov 2017
Jongha Lim, Michael Schwert and Michael S. Weisbach
California State University, Fullerton - Department of Finance, University of Pennsylvania - The Wharton School and Ohio State University (OSU) - Department of Finance
Downloads 12 (645,254)

Abstract:

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6.

Proactive Capital Structure Adjustments: Evidence from Corporate Filings

Stanford University Graduate School of Business Research Paper No. 18-31
Number of pages: 50 Posted: 21 Jun 2018 Last Revised: 10 Jun 2020
Arthur G. Korteweg, Michael Schwert and Ilya A. Strebulaev
University of Southern California - Marshall School of Business, University of Pennsylvania - The Wharton School and Stanford University - Graduate School of Business
Downloads 258 (129,955)
Citation 2

Abstract:

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capital structure, leverage, adjustment costs

7.

Sea Level Rise Exposure and Municipal Bond Yields

Number of pages: 47 Posted: 11 Nov 2019 Last Revised: 08 May 2020
Yale School of Management, Pennsylvania State University - Smeal College of Business, University of Colorado, Boulder and University of Pennsylvania - The Wharton School
Downloads 230 (146,239)
Citation 2

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climate change, sea level rise, asset prices, municipal bonds, credit risk

Interest Rates and the Design of Financial Contracts

Number of pages: 61 Posted: 13 Jan 2020 Last Revised: 10 Jun 2020
Michael R. Roberts and Michael Schwert
The Wharton School - University of Pennsylvania; National Bureau of Economic Research (NBER) and University of Pennsylvania - The Wharton School
Downloads 179 (183,659)

Abstract:

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financial contracts, interest rates, banking, commercial lending

Interest Rates and the Design of Financial Contracts

NBER Working Paper No. w27195
Number of pages: 62 Posted: 26 May 2020
Michael R. Roberts and Michael Schwert
The Wharton School - University of Pennsylvania; National Bureau of Economic Research (NBER) and University of Pennsylvania - The Wharton School
Downloads 3 (717,083)
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9.

The Effects of Transparency on Trading Profits and Price Informativeness: Evidence From Corporate Bonds

Number of pages: 35 Posted: 12 Dec 2018
Ryan Lewis and Michael Schwert
University of Colorado, Boulder and University of Pennsylvania - The Wharton School
Downloads 168 (194,081)
Citation 2

Abstract:

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over-the-counter markets, price transparency, corporate bonds

10.

Hop, Skip and Jump - What are Modern 'Jump' Tests Finding in Stock Returns?

Number of pages: 39 Posted: 27 Jul 2010
Michael Schwert
University of Pennsylvania - The Wharton School
Downloads 154 (208,987)
Citation 5

Abstract:

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jump testing, coherence, intraday stock returns

11.

CLO Performance

Number of pages: 45
Larry Cordell, Michael R. Roberts and Michael Schwert
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, The Wharton School - University of Pennsylvania; National Bureau of Economic Research (NBER) and University of Pennsylvania - The Wharton School
Downloads 32

Abstract:

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collateralized loan obligations, leveraged loans, securitization, asset management