Victoria Ivashina

Harvard University

Lovett-Learned Professor of Finance

Harvard Business School

Baker Library 233

Boston, MA 02163

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

32

DOWNLOADS
Rank 487

SSRN RANKINGS

Top 487

in Total Papers Downloads

42,751

SSRN CITATIONS
Rank 658

SSRN RANKINGS

Top 658

in Total Papers Citations

896

CROSSREF CITATIONS

547

Scholarly Papers (32)

1.

Bank Lending During the Financial Crisis of 2008

EFA 2009 Bergen Meetings Paper
Number of pages: 45 Posted: 10 Nov 2008 Last Revised: 15 Feb 2018
Victoria Ivashina and David S. Scharfstein
Harvard University and Harvard Business School - Finance Unit
Downloads 11,115 (411)
Citation 173

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Bank Lending, Financial Crisis

The Disintermediation of Financial Markets: Direct Investing in Private Equity

Journal of Financial Economics (JFE), 116 (1), 160-178, 2015
Number of pages: 49 Posted: 09 Oct 2012 Last Revised: 15 Feb 2018
Lily H. Fang, Victoria Ivashina and Josh Lerner
INSEAD - Finance, Harvard University and Harvard Business School - Finance Unit
Downloads 6,096 (1,186)
Citation 3

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Financial Intermediation, Private Equity, Direct Investment, Co-investment

The Disintermediation of Financial Markets: Direct Investing in Private Equity

NBER Working Paper No. w19299
Number of pages: 52 Posted: 10 Aug 2013
Lily H. Fang, Victoria Ivashina and Josh Lerner
INSEAD - Finance, Harvard University and Harvard Business School - Finance Unit
Downloads 70 (360,127)
Citation 11

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3.

The Private Equity Advantage: Leveraged Buyout Firms and Relationship Banking

EFA 2008 Athens Meetings Paper
Number of pages: 60 Posted: 29 Feb 2008 Last Revised: 15 Feb 2018
Victoria Ivashina and Anna Kovner
Harvard University and Federal Reserve Bank of New York
Downloads 3,743 (2,802)
Citation 38

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Private equity; leveraged buyouts; bank debt; relationship banking

4.

Asymmetric Information Effects on Loan Spreads

Journal of Financial Economics 92 (2009), pp. 300-319
Number of pages: 42 Posted: 18 Nov 2005 Last Revised: 31 Jul 2009
Victoria Ivashina
Harvard University
Downloads 2,682 (4,935)
Citation 74

Abstract:

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Banks, Syndicated loans, Asymmetric information

5.
Downloads 1,843 ( 9,287)
Citation 8

Bank Debt and Corporate Governance

EFA 2004 Maastricht Meetings Paper No. 4601
Number of pages: 66 Posted: 20 Jul 2004 Last Revised: 22 Jan 2009
Victoria Ivashina, Vinay B. Nair, Anthony Saunders and Nadia Massoud
Harvard University, University of Pennsylvania - Finance Department, New York University - Leonard N. Stern School of Business and Melbourne Business School, University of Melbourne
Downloads 1,843 (9,100)
Citation 8

Abstract:

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Banks, Corporate Governance, Takeovers, Conflicts of Interest

Bank Debt and Corporate Governance

The Review of Financial Studies, Vol. 22, Issue 1, pp. 41-77, 2009
Posted: 03 Jan 2009
Harvard University, University of Pennsylvania - Finance Department, New York University - Leonard N. Stern School of Business, Melbourne Business School, University of Melbourne and Iowa State University - Department of Accounting and Finance

Abstract:

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G10, G20, G21, G34

6.

Combining Banking with Private Equity Investing

AFA 2011 Denver Meetings Paper
Number of pages: 47 Posted: 18 Mar 2010 Last Revised: 15 Feb 2018
Lily H. Fang, Victoria Ivashina and Josh Lerner
INSEAD - Finance, Harvard University and Harvard Business School - Finance Unit
Downloads 1,667 (10,912)
Citation 2

Abstract:

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Private equity, LBO, Banks, Bank regulation

7.
Downloads 1,640 ( 11,227)
Citation 125

Reaching for Yield in the Bond Market

Harvard Business School Finance Working Paper No. 12-103
Number of pages: 54 Posted: 24 May 2012 Last Revised: 15 Feb 2018
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 1,570 (11,757)
Citation 9

Abstract:

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Reaching for yield; Financial crises; Credit cycles; Insurance companies

Reaching for Yield in the Bond Market

Number of pages: 42 Posted: 02 Jun 2012
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 53 (415,299)
Citation 1

Abstract:

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Fixed income, Reaching for yield, Financial intermediation, Insurance companies

Reaching for Yield in the Bond Market

NBER Working Paper No. w18909
Number of pages: 56 Posted: 22 Mar 2013 Last Revised: 08 Apr 2013
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 17 (603,789)
Citation 97

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8.
Downloads 1,557 ( 12,105)
Citation 68

Cyclicality of Credit Supply: Firm Level Evidence

Harvard Business School Finance Working Paper No. 10-107
Number of pages: 48 Posted: 18 Mar 2010 Last Revised: 15 Feb 2018
Victoria Ivashina and Bo Becker
Harvard University and Stockholm School of Economics
Downloads 1,527 (12,258)
Citation 37

Abstract:

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Banks, Financial Markets and the Macroeconomy, Business Cycles, Credit Cycles

Cyclicality of Credit Supply: Firm Level Evidence

NBER Working Paper No. w17392
Number of pages: 47 Posted: 21 Sep 2011
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 30 (518,112)
Citation 4

Abstract:

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9.

Loan Syndication and Credit Cycles

American Economic Review, Forthcoming
Number of pages: 11 Posted: 20 Jan 2010
Victoria Ivashina and David S. Scharfstein
Harvard University and Harvard Business School - Finance Unit
Downloads 1,549 (12,202)
Citation 7

Abstract:

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Banks, Credit, Syndicated loans

10.

The Ownership and Trading of Debt Claims in Chapter 11 Restructurings

Journal of Financial Economics (JFE), 119 (2), 316-335, 2015
Number of pages: 47 Posted: 19 Mar 2010 Last Revised: 17 Jan 2017
Victoria Ivashina, Benjamin Charles Iverson and David C. Smith
Harvard University, Brigham Young University and University of Virginia - McIntire School of Commerce
Downloads 1,529 (12,478)
Citation 13

Abstract:

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Chapter 11; Ownership structure; Distressed debt; Trading in bankruptcy

11.
Downloads 1,327 ( 15,614)
Citation 50

Financial Repression in the European Sovereign Debt Crisis

Swedish House of Finance Research Paper No. 14-13
Number of pages: 41 Posted: 27 Apr 2014 Last Revised: 15 Feb 2018
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 1,325 (15,328)
Citation 33

Abstract:

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Credit Cycles, Sovereign Debt, Financial Repression

Financial Repression in the European Sovereign Debt Crisis

CEPR Discussion Paper No. DP12185
Number of pages: 52 Posted: 04 Aug 2017
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 2 (722,485)
Citation 24
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Credit cycles, financial repression, Sovereign debt

12.

Institutional Stock Trading on Loan Market Information

AFA 2008 New Orleans Meetings Paper
Number of pages: 55 Posted: 18 Dec 2007 Last Revised: 15 Feb 2018
Victoria Ivashina and Zheng Sun
Harvard University and University of California, Irvine - Paul Merage School of Business
Downloads 1,218 (17,755)
Citation 52

Abstract:

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Institutional investors, Syndicated loans, Insider trading

13.
Downloads 1,157 ( 19,199)
Citation 35

Securitization without Adverse Selection: The Case of CLOs

AFA 2010 Atlanta Meetings Paper
Number of pages: 58 Posted: 16 Feb 2009 Last Revised: 15 Feb 2018
Efraim Benmelech, Jennifer Dlugosz and Victoria Ivashina
Northwestern University - Kellogg School of Management, Washington University in St. Louis - John M. Olin Business School and Harvard University
Downloads 1,104 (20,231)
Citation 36

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Structured finance, Collateralized loan obligations (CLOs), CDOs, Syndicated loans

Securitization Without Adverse Selection: The Case of Clos

NBER Working Paper No. w16766
Number of pages: 46 Posted: 07 Feb 2011 Last Revised: 09 Feb 2011
Efraim Benmelech, Jennifer Dlugosz and Victoria Ivashina
Northwestern University - Kellogg School of Management, Washington University in St. Louis - John M. Olin Business School and Harvard University
Downloads 53 (415,299)

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14.

Institutional Demand Pressure and the Cost of Corporate Loans

Journal of Financial Economics (JFE), 99 (3), 500-522, 2011
Number of pages: 60 Posted: 16 Nov 2008 Last Revised: 15 Feb 2018
Victoria Ivashina and Zheng Sun
Harvard University and University of California, Irvine - Paul Merage School of Business
Downloads 967 (25,031)
Citation 25

Abstract:

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Institutional investors, syndicated loans, LBO, credit crisis

15.
Downloads 892 ( 28,105)
Citation 60

Dollar Funding and the Lending Behavior of Global Banks

Quarterly Journal of Economics, 130 (3), 1241-1281, 2015
Number of pages: 46 Posted: 06 Nov 2012 Last Revised: 15 Feb 2018
Victoria Ivashina, David S. Scharfstein and Jeremy C. Stein
Harvard University, Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 707 (38,124)

Abstract:

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Banks, Global Banks, Credit Supply, Dollar Funding

Dollar Funding and the Lending Behavior of Global Banks

Quarterly Journal of Economics, Forthcoming
Number of pages: 51 Posted: 06 Jan 2013 Last Revised: 11 Mar 2015
Victoria Ivashina, David S. Scharfstein and Jeremy C. Stein
Harvard University, Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 177 (184,227)

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Covered Interest Parity; Dollar Funding; Credit Supply; Global Banks

Dollar Funding and the Lending Behavior of Global Banks

NBER Working Paper No. w18528
Number of pages: 47 Posted: 11 Nov 2012
Victoria Ivashina, David S. Scharfstein and Jeremy C. Stein
Harvard University, Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 8 (670,817)
Citation 18

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Pay Now or Pay Later?: The Economics within the Private Equity Partnership

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 51 Posted: 02 Apr 2016 Last Revised: 15 Feb 2018
Victoria Ivashina and Josh Lerner
Harvard University and Harvard Business School - Finance Unit
Downloads 780 (33,362)
Citation 3

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Partnerships, venture capital, leveraged buyout

Pay Now or Pay Later?: The Economics within the Private Equity Partnership

NBER Working Paper No. w22660
Number of pages: 51 Posted: 26 Sep 2016 Last Revised: 02 Oct 2016
Victoria Ivashina and Josh Lerner
Harvard University and Harvard Business School - Finance Unit
Downloads 27 (535,766)

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17.
Downloads 633 ( 44,941)
Citation 23

Covenant-Light Contracts and Creditor Coordination

Riksbank Research Paper Series No. 149
Number of pages: 45 Posted: 07 Dec 2016 Last Revised: 13 Jan 2017
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 456 (67,380)
Citation 14

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Credit cycles, Loan contracts, Debt Covenants

Covenant-Light Contracts and Creditor Coordination

Swedish House of Finance Research Paper No. 16-09
Number of pages: 44 Posted: 31 Mar 2016 Last Revised: 04 Apr 2016
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 177 (184,227)
Citation 13

Abstract:

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Credit cycles; Loan contracts; Debt Covenants

18.
Downloads 393 ( 81,154)
Citation 12

Large Banks and Small Firm Lending

Number of pages: 52 Posted: 11 Nov 2015 Last Revised: 21 Oct 2018
Vitaly Bord, Victoria Ivashina and Ryan Taliaferro
Federal Reserve Board, Harvard University and Acadian Asset Management
Downloads 378 (84,223)
Citation 13

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Small Firms, Credit Supply, Banking Competition.

Large Banks and Small Firm Lending

NBER Working Paper No. w25184
Number of pages: 53 Posted: 22 Oct 2018 Last Revised: 26 Oct 2018
Vitaly Bord, Victoria Ivashina and Ryan Taliaferro
Federal Reserve Board, Harvard University and Acadian Asset Management
Downloads 15 (618,014)

Abstract:

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19.

Monetary Policy and Global Banking

Journal of Finance, Forthcoming
Number of pages: 74 Posted: 29 Jun 2016 Last Revised: 09 Feb 2020
Falk Bräuning and Victoria Ivashina
Federal Reserve Banks - Federal Reserve Bank of Boston and Harvard University
Downloads 388 (82,377)
Citation 3

Abstract:

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Global banks; monetary policy transmission; cross-border lending

20.

U.S. Monetary Policy and Emerging Markets Credit Cycles

Number of pages: 45 Posted: 05 Jun 2017 Last Revised: 15 May 2018
Falk Bräuning and Victoria Ivashina
Federal Reserve Banks - Federal Reserve Bank of Boston and Harvard University
Downloads 387 (82,631)

Abstract:

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Global Business Cycle, Monetary Policy, Emerging Markets, Reaching for Yield

21.
Downloads 337 ( 96,818)
Citation 1

Weak Credit Covenants

Number of pages: 59 Posted: 09 Aug 2018 Last Revised: 29 May 2020
Victoria Ivashina and Boris Vallee
Harvard University and Harvard Business School - Finance Unit
Downloads 332 (97,789)
Citation 1

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Leveraged Loans; Loan contracts; Covenants; Carve-out; Basket; Creditor Governance; LBO

Weak Credit Covenants

NBER Working Paper No. w27316
Number of pages: 60 Posted: 09 Jun 2020
Victoria Ivashina and Boris Vallee
Harvard University and Harvard Business School - Finance Unit
Downloads 5 (694,041)
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22.

Trade Creditors' Information Advantage

Number of pages: 50 Posted: 01 Feb 2018
Victoria Ivashina and Benjamin Charles Iverson
Harvard University and Brigham Young University
Downloads 229 (145,185)

Abstract:

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Trade Credit, Distress, Bankruptcy

23.
Downloads 136 (229,439)
Citation 13

Combining Banking with Private Equity Investing

Review of Financial Studies, Vol. 26 (9), 2139-2173, June 2013
Number of pages: 47 Posted: 19 Sep 2014 Last Revised: 15 Feb 2018
Lily H. Fang, Victoria Ivashina and Josh Lerner
INSEAD - Finance, Harvard University and Harvard Business School - Finance Unit
Downloads 113 (265,030)

Abstract:

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Private equity, banks, credit cycles

Combining Banking with Private Equity Investing

NBER Working Paper No. w19300
Number of pages: 48 Posted: 10 Aug 2013
Lily H. Fang, Victoria Ivashina and Josh Lerner
INSEAD - Finance, Harvard University and Harvard Business School - Finance Unit
Downloads 23 (562,019)
Citation 5

Abstract:

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24.
Downloads 122 (249,376)

Disruption and Credit Markets

Number of pages: 41 Posted: 13 Feb 2019
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 122 (250,385)

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Disruption, Default, Corporate Bonds

Disruption and Credit Markets

CEPR Discussion Paper No. DP13508
Number of pages: 44 Posted: 11 Feb 2019
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 0
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corporate bonds, default, Disruption

25.
Downloads 119 (254,109)
Citation 1

Loan Types and the Bank Lending Channel

Number of pages: 44 Posted: 19 Mar 2020 Last Revised: 17 Apr 2020
Victoria Ivashina, Luc Laeven and Enrique Moral-Benito
Harvard University, European Central Bank (ECB) and Banco de España
Downloads 93 (303,086)

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Bank credit, Loan types, Bank lending channel, Credit registry

Loan Types and the Bank Lending Channel

ECB Working Paper No. 20202409
Number of pages: 49 Posted: 14 May 2020
Victoria Ivashina, Luc Laeven and Enrique Moral-Benito
Harvard University, European Central Bank (ECB) and Banco de España
Downloads 24 (555,269)

Abstract:

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bank credit, bank lending channel, credit registry, loan types

Loan Types and the Bank Lending Channel

NBER Working Paper No. w27056
Number of pages: 45 Posted: 28 Apr 2020
Victoria Ivashina, Luc Laeven and Enrique Moral-Benito
Harvard University, European Central Bank (ECB) and Banco de España
Downloads 2 (722,485)
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Loan Types and the Bank Lending Channel

CEPR Discussion Paper No. DP14459
Number of pages: 57 Posted: 03 Mar 2020
Victoria Ivashina, Luc Laeven and Enrique Moral-Benito
Harvard University, European Central Bank (ECB) and Banco de España
Downloads 0
Citation 1
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Bank credit, bank lending channel, Credit registry, Loan types

U. S. Monetary Policy and Emerging Market Credit Cycles

FRB of Boston Working Paper No. 17-9
Number of pages: 44 Posted: 09 Nov 2017
Falk Bräuning and Victoria Ivashina
Federal Reserve Banks - Federal Reserve Bank of Boston and Harvard University
Downloads 58 (397,614)

Abstract:

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global business cycle, monetary policy, emerging markets, reaching for yield

U.S. Monetary Policy and Emerging Market Credit Cycles

NBER Working Paper No. w25185
Number of pages: 53 Posted: 22 Oct 2018
Falk Bräuning and Victoria Ivashina
Federal Reserve Banks - Federal Reserve Bank of Boston and Harvard University
Downloads 6 (686,153)
Citation 5

Abstract:

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27.
Downloads 57 (395,199)
Citation 4

Monetary Policy and Global Banking

FRB of Boston Working Paper No. 17-5
Number of pages: 55 Posted: 19 Jul 2017
Falk Bräuning and Victoria Ivashina
Federal Reserve Banks - Federal Reserve Bank of Boston and Harvard University
Downloads 36 (486,731)

Abstract:

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global banks, monetary policy transmission, cross‐border lending

Monetary Policy and Global Banking

NBER Working Paper No. w23316
Number of pages: 75 Posted: 10 Apr 2017
Falk Bräuning and Victoria Ivashina
Federal Reserve Banks - Federal Reserve Bank of Boston and Harvard University
Downloads 21 (575,624)

Abstract:

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28.

Why is Dollar Debt Cheaper? Evidence from Peru

Number of pages: 55 Posted: 08 Jun 2020
Bryan Gutiérrez, Victoria Ivashina and Juliana Salomao
Superintendencia de Banca Seguros y AFP, Harvard University and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 20 (563,340)

Abstract:

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Emerging Market Corporate Debt, Currency Mismatch, Liability Dollarization, Carry Trade

29.

Trade Creditors’ Information Advantage

NBER Working Paper No. w24269
Number of pages: 50 Posted: 29 Jan 2018
Victoria Ivashina and Benjamin Charles Iverson
Harvard University and Brigham Young University
Downloads 6 (657,654)

Abstract:

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30.

Loan Types and the Bank Lending Channel

Banco de Espana Working Paper No. 2020
Number of pages: 55
Victoria Ivashina, Luc Laeven and Enrique Moral-Benito
Harvard University, European Central Bank (ECB) and Banco de España
Downloads 1

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bank credit, loan types, bank lending channel, credit registry

31.

Momentive Performance Materials, Inc.

Harvard Business School Finance Case No. 210-081
Posted: 07 Feb 2012
Victoria Ivashina and David S. Scharfstein
Harvard University and Harvard Business School - Finance Unit

Abstract:

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32.

Delphi Corp. and the Credit Derivatives Market (A)

HBS Case No. 210-002
Posted: 22 Jul 2009
Stuart C. Gilson, Victoria Ivashina and Sarah Abbott
Harvard Business School - Finance Unit, Harvard University and Harvard University - Business School (HBS)

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