Haluk Unal

University of Maryland - Robert H. Smith School of Business

Professor of Finance

College Park, MD 20742-1815

United States

  • University of Maryland - Robert H. Smith School of Business

    • Email
    • Tel: 301-405-2256
    • Fax: 301-405 0359
SCHOLARLY PAPERS

25

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SSRN RANKINGS

Top 18,128

in Total Papers Downloads

5,860

TOTAL CITATIONS
Rank 7,774

SSRN RANKINGS

Top 7,774

in Total Papers Citations

129

Scholarly Papers (25)

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1.

Callable Bonds, Interest-Rate Risk, and the Supply Side of Hedging

Number of pages: 57 Posted: 09 Mar 2004
Levent Guntay, Nagpurnanand Prabhala and Haluk Unal
Federal Deposit Insurance Corporation (FDIC), The Johns Hopkins Carey Business School and University of Maryland - Robert H. Smith School of Business
Downloads 730 (75,088)

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Hedging, Risk Management, Callable Bonds

2.

Risk-Neutralizing Statistical Distributions: With an Application to Pricing Reinsurance Contracts on Fdic Losses

Downloads 506 (119,316)
Citation 6

Risk-Neutralizing Statistical Distributions: With an Application to Pricing Reinsurance Contracts on Fdic Losses

Number of pages: 37 Posted: 03 Jun 2004
Dilip B. Madan and Haluk Unal
University of Maryland - Robert H. Smith School of Business and University of Maryland - Robert H. Smith School of Business
Downloads 333 (191,110)
Citation 3

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Default Risk, Reinsurance, Bank Losses, Extreme Value Distributions, Risk Neutral Density

Risk-Neutralizing Statistical Distributions: With an Application to Pricing Reinsurance Contracts on Fdic Losses

FDIC Center For Financial Research Working Paper No. 2004-01
Number of pages: 38 Posted: 04 Apr 2005
Dilip B. Madan and Haluk Unal
University of Maryland - Robert H. Smith School of Business and University of Maryland - Robert H. Smith School of Business
Downloads 173 (366,791)
Citation 3

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risk measurement, deposit insurance

3.

Gains in Bank Mergers: Evidence from the Bond Markets

Downloads 483 (126,201)
Citation 5

Gains in Bank Mergers: Evidence from the Bond Markets

Number of pages: 43 Posted: 19 Feb 2003
María Fabiana Penas and Haluk Unal
Universidad Torcuato Di Tella and University of Maryland - Robert H. Smith School of Business
Downloads 483 (124,679)
Citation 5

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bank mergers, bond markets, diversification, Too big to fail

Gains in Bank Mergers: Evidence from the Bond Markets

Posted: 27 Jun 2005
María Fabiana Penas and Haluk Unal
Universidad Torcuato Di Tella and University of Maryland - Robert H. Smith School of Business

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Bank mergers, bond markets, diversification, too big to fail

4.

Inside Debt, Bank Default Risk and Performance during the Crisis

FDIC Center for Financial Research Working Paper No. 2012-3
Number of pages: 54 Posted: 03 Aug 2012 Last Revised: 14 Sep 2014
Rosalind L. Bennett, Levent Guntay and Haluk Unal
FDIC, Division of Insurance and Research, Federal Deposit Insurance Corporation (FDIC) and University of Maryland - Robert H. Smith School of Business
Downloads 480 (127,109)
Citation 32

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Executive compensation, financial crises, bank risk

5.

Relationship Lending, Accounting Disclosure, and Credit Availability During the Asian Financial Crisis

FDIC Center For Financial Research Working Paper No. 2005-08, Robert H. Smith School Research Paper No. RHS 06-022
Number of pages: 53 Posted: 08 Aug 2005 Last Revised: 01 Sep 2014
Wenying Jiangli, Haluk Unal and Chiwon Yom
U.S. Federal Deposit Insurance Corporation (FDIC), University of Maryland - Robert H. Smith School of Business and Federal Deposit Insurance Corporation (FDIC)
Downloads 458 (134,520)
Citation 8

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relationship lending, accounting disclosure, credit availability

6.

The Technical Process of Bank Privatization in Mexico

Wharton Working Paper 97-42
Number of pages: 36 Posted: 21 Jan 1998
Haluk Unal and Miguel Navarro
University of Maryland - Robert H. Smith School of Business and World Bank
Downloads 453 (136,342)
Citation 2

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7.

Pay for Performance? CEO Compensation and Acquirer Returns in BHCs

Downloads 434 (143,315)
Citation 18

Pay for Performance? CEO Compensation and Acquirer Returns in BHCs

Number of pages: 39 Posted: 25 Mar 2008 Last Revised: 14 Sep 2014
Liu Yang, Haluk Unal and Kristina Minnick
University of Maryland, Robert H. Smith School of Business, University of Maryland - Robert H. Smith School of Business and Bentley University
Downloads 302 (212,413)
Citation 13

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Pay-for-Performance Sensitivity, CEO Compensation, Acquirer Returns

Pay for Performance? CEO Compensation and Acquirer Returns in BHCs

FDIC Working Paper No. 2010-11
Number of pages: 42 Posted: 09 Jan 2012
Kristina Minnick, Haluk Unal and Liu Yang
Bentley University, University of Maryland - Robert H. Smith School of Business and University of Maryland, Robert H. Smith School of Business
Downloads 132 (461,256)
Citation 5

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8.

Pricing the Risk of Recovery in Default with Apr Violation

Downloads 323 (199,006)
Citation 12

Pricing the Risk of Recovery in Default with Apr Violation

Number of pages: 41 Posted: 14 Apr 2002
Haluk Unal, Levent Guntay and Dilip B. Madan
University of Maryland - Robert H. Smith School of Business, Federal Deposit Insurance Corporation (FDIC) and University of Maryland - Robert H. Smith School of Business
Downloads 323 (197,454)
Citation 12

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Recovery rates, APR violation, Risky debt pricing, Credit risk, Credit derivatives

Pricing the Risk of Recovery in Default with Apr Violation

Posted: 26 Jun 2002
Haluk Unal, Levent Guntay and Dilip B. Madan
University of Maryland - Robert H. Smith School of Business, Federal Deposit Insurance Corporation (FDIC) and University of Maryland - Robert H. Smith School of Business

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Recovery rates, APR violation, Risky debt pricing, Credit risk, Credit derivatives

9.

A Simple Approach to Infer Recovery Rates with Apr Violation from Debt Spreads

Number of pages: 27 Posted: 10 Jul 2001
Haluk Unal, Levent Guntay and Dilip B. Madan
University of Maryland - Robert H. Smith School of Business, Federal Deposit Insurance Corporation (FDIC) and University of Maryland - Robert H. Smith School of Business
Downloads 296 (218,564)
Citation 1

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10.

Designing Countercyclical and Risk Based Aggregate Deposit Insurance Premia

FDIC, Center For Financial Research Working Paper No. WP 2007-02
Number of pages: 31 Posted: 22 Feb 2007
Robert A. Jarrow, Dilip B. Madan and Haluk Unal
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Maryland - Robert H. Smith School of Business and University of Maryland - Robert H. Smith School of Business
Downloads 288 (224,967)
Citation 4

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Deposit insurance, Procyclicality, Default probabilty, Loss distributions

11.

Understanding the Components of Bank Failure Resolution Costs

Forthcoming in Financial Markets, Institutions & Instruments, FDIC Division of Insurance Research Paper No. 2014-04, Robert H. Smith School Research Paper No. RHS 2482359
Number of pages: 48 Posted: 20 Aug 2014
Rosalind L. Bennett and Haluk Unal
FDIC, Division of Insurance and Research and University of Maryland - Robert H. Smith School of Business
Downloads 265 (244,933)
Citation 19

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bank failures, bank resolution costs, FDIC receivership, fire sales, banking

12.

The Effects of Resolution Methods and Industry Stress on the Loss on Assets from Bank Failures

FDIC Center for Financial Research Working Paper No. 2009-11, Journal of Financial Stability, Forthcoming, Robert H. Smith School Research Paper No. RHS 06-143
Number of pages: 51 Posted: 24 Feb 2010 Last Revised: 14 Sep 2014
Rosalind L. Bennett and Haluk Unal
FDIC, Division of Insurance and Research and University of Maryland - Robert H. Smith School of Business
Downloads 249 (260,893)
Citation 12

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Bank Failures, Bankruptcy Costs, Bank Resolution Costs, FDIC Receivership

13.

The Dark-Side of Banks’ Nonbank Business: Internal Dividends in Bank Holding Companies

FDIC Center for Financial Research Paper No. 2018-01
Number of pages: 61 Posted: 30 Jan 2018 Last Revised: 22 Feb 2019
Jonathan Pogach and Haluk Unal
FDIC, Division of Insurance and Research and University of Maryland - Robert H. Smith School of Business
Downloads 224 (290,469)
Citation 3

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internal capital markets, dividends, bank, nonbank, financial constraints

14.

Do Municipalities Pay More to Issue Unrated Bonds?

Downloads 167 (378,753)

Do Municipalities Pay More to Issue Unrated Bonds?

Number of pages: 42 Posted: 25 Oct 2021
Matthew Peppe and Haluk Unal
University of Maryland - Department of Finance and University of Maryland - Robert H. Smith School of Business
Downloads 93 (600,806)

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Municipal Debt, Credit Ratings

Do Municipalities Pay More to Issue Unrated Bonds?

FDIC Center for Financial Research Paper No. 2022-12
Number of pages: 59 Posted: 15 Sep 2022
Matthew Peppe and Haluk Unal
University of Maryland - Department of Finance and University of Maryland - Robert H. Smith School of Business
Downloads 74 (690,238)

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15.

Shadow Insurance? Money Market Fund Investors and Bank Sponsorship

FDIC Center for Financial Research Paper No. 2020-03
Number of pages: 38 Posted: 19 Jun 2020 Last Revised: 06 Dec 2021
Stefan Jacewitz and Haluk Unal
Federal Reserve Bank of Kansas City and University of Maryland - Robert H. Smith School of Business
Downloads 98 (574,440)

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bank, bank holding company, bank run, financial crisis, liquidity risk, money market fund, systemic risk, too big to fail

16.

Explaining the Life Cycle of Bank-Sponsored Money Market Funds: An Application of the Regulatory Dialectic

Downloads 96 (582,257)

Explaining the Life Cycle of Bank-Sponsored Money Market Funds: An Application of the Regulatory Dialectic

FDIC Center for Financial Research Paper No. 2024-01
Number of pages: 41 Posted: 21 Feb 2024
Stefan Jacewitz, Jonathan Pogach, Haluk Unal and Chengjun Wu
Federal Reserve Bank of Kansas City, FDIC, Division of Insurance and Research, University of Maryland - Robert H. Smith School of Business and University of Maryland - Robert H. Smith School of Business
Downloads 58 (787,530)

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bank, bank holding company, bank run, financial crisis, liquidity risk, money market fund, systemic risk, too big to fail

Explaining the Life Cycle of Bank-Sponsored Money Market Funds: An Application of the Regulatory Dialectic *

Federal Reserve Bank of Kansas City Working Paper No. RWP 24-01
Number of pages: 47 Posted: 06 Feb 2024
Stefan Jacewitz, Jonathan Pogach, Haluk Unal and Chengjun Wu
Federal Reserve Bank of Kansas City, FDIC, Division of Insurance and Research, University of Maryland - Robert H. Smith School of Business and University of Maryland - Robert H. Smith School of Business
Downloads 38 (956,071)

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bank holding company, bank run, financial crisis, liquidity risk, money market fund, systemic risk, too big to fail, Bank

17.

Shadow Insurance? Money Market Fund Investors and Bank Sponsorship

Number of pages: 55 Posted: 02 Sep 2021
FRB of Kansas City Submitter, Stefan Jacewitz, Haluk Unal and Chengjun Wu
Federal Reserve Bank of Kansas City, Federal Reserve Bank of Kansas City, University of Maryland - Robert H. Smith School of Business and University of Maryland - Robert H. Smith School of Business
Downloads 92 (602,257)

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bank, bank holding company, bank run, financial crisis, liquidity risk, money market fund, systemic risk, too big to fail

18.

Change in Market Assessments of Deposit-Institution Riskiness

NBER Working Paper No. w2530
Number of pages: 41 Posted: 20 Oct 2000 Last Revised: 02 Dec 2022
Edward J. Kane and Haluk Unal
Boston College - Department of Finance and University of Maryland - Robert H. Smith School of Business
Downloads 88 (614,849)
Citation 2

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19.

Modeling Structural and Temporal Variation in the Market's Valuation of Banking Firms

NBER Working Paper No. w2693
Number of pages: 36 Posted: 18 Jun 2004 Last Revised: 12 Nov 2022
Edward J. Kane and Haluk Unal
Boston College - Department of Finance and University of Maryland - Robert H. Smith School of Business
Downloads 74 (679,542)
Citation 5

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20.

Capital Positions of Japanese Banks

NBER Working Paper No. w3401
Number of pages: 33 Posted: 01 Mar 2001 Last Revised: 19 Oct 2022
Edward J. Kane, Haluk Unal and Asli Demirgüç-Kunt
Boston College - Department of Finance, University of Maryland - Robert H. Smith School of Business and World Bank
Downloads 56 (785,123)

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21.

A Simple Approach to Estimate Recovery Rates with Apr Violation from Debt Spreads

Wharton Financial Institutions Center Working Paper No. 01-07
Posted: 14 May 2001
Haluk Unal, Levent Guntay and Dilip B. Madan
University of Maryland - Robert H. Smith School of Business, Federal Deposit Insurance Corporation (FDIC) and University of Maryland - Robert H. Smith School of Business

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22.

A Two-Factor Hazard-Rate Model for Pricing Risky Debt and the Term Structure of Credit Spreads

Posted: 19 Apr 2000
Dilip B. Madan and Haluk Unal
University of Maryland - Robert H. Smith School of Business and University of Maryland - Robert H. Smith School of Business

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23.

Regulatory Misconceptions in Pricing Thrift Conversions: A Closer Look at the Process

95-15
Posted: 15 Jul 1998
Haluk Unal
University of Maryland - Robert H. Smith School of Business

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24.

Hedging and Coordinated Risk Management: Evidence from Thrift Conversions

Downloads 0 (1,321,316)

Hedging and Coordinated Risk Management: Evidence from Thrift Conversions

96-05
Posted: 03 Jul 1998
Catherine M. Schrand and Haluk Unal
University of Pennsylvania - Accounting Department and University of Maryland - Robert H. Smith School of Business

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Hedging and Coordinated Risk Management: Evidence from Thrift Conversions

Posted: 03 Jul 1998
Catherine M. Schrand and Haluk Unal
University of Pennsylvania - Accounting Department and University of Maryland - Robert H. Smith School of Business

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25.

Pricing the Risks of Default

94-16-B
Posted: 05 May 1995
Dilip B. Madan and Haluk Unal
University of Maryland - Robert H. Smith School of Business and University of Maryland - Robert H. Smith School of Business

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