Sergey Chernenko

Purdue University - Department of Management

Associate Professor of Management (Finance)

West Lafayette, IN 47907-1310

United States

http://www.sergeychernenko.com

  • Purdue University - Department of Management

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    • Tel: (765) 494-4413
SCHOLARLY PAPERS

20

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10,707

SSRN CITATIONS
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Top 3,973

in Total Papers Citations

405

CROSSREF CITATIONS

68

Scholarly Papers (20)

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1.

Why Do Firms Borrow Directly from Nonbanks?

Downloads 1,611 (22,421)
Citation 46

Why Do Firms Borrow Directly from Nonbanks?

Fisher College of Business Working Paper No. 2018-03-013, Charles A. Dice Center Working Paper No. 2018-13, Review of Financial Studies, forthcoming
Number of pages: 65 Posted: 26 Jul 2018 Last Revised: 09 Mar 2022
Sergey Chernenko, Isil Erel and Robert Prilmeier
Purdue University - Department of Management, Ohio State University (OSU) - Department of Finance and Tulane University - A.B. Freeman School of Business
Downloads 1,559 (23,184)
Citation 8

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bank regulation, shadow banking, market segmentation, relationship lending

Why Do Firms Borrow Directly from Nonbanks?

NBER Working Paper No. w26458
Number of pages: 53 Posted: 18 Nov 2019 Last Revised: 17 Apr 2023
Sergey Chernenko, Isil Erel and Robert Prilmeier
Purdue University - Department of Management, Ohio State University (OSU) - Department of Finance and Tulane University - A.B. Freeman School of Business
Downloads 52 (744,665)
Citation 35

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2.

Mutual Funds As Venture Capitalists? Evidence from Unicorns

Downloads 1,446 (26,391)
Citation 37

Mutual Funds As Venture Capitalists? Evidence from Unicorns

European Corporate Governance Institute – Finance Working Paper No. 675/2020
Number of pages: 94 Posted: 11 Jan 2017 Last Revised: 28 Apr 2020
Sergey Chernenko, Josh Lerner and Yao Zeng
Purdue University - Department of Management, Harvard Business School - Finance Unit and University of Pennsylvania - The Wharton School
Downloads 1,385 (27,646)
Citation 40

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Private places, private equity, governance

Mutual Funds as Venture Capitalists? Evidence from Unicorns

NBER Working Paper No. w23981
Number of pages: 51 Posted: 30 Oct 2017 Last Revised: 12 Jul 2023
Sergey Chernenko, Josh Lerner and Yao Zeng
Purdue University - Department of Management, Harvard Business School - Finance Unit and University of Pennsylvania - The Wharton School
Downloads 61 (690,444)
Citation 1

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3.

The Information Content of Forward and Futures Prices: Market Expectations and the Price of Risk

Number of pages: 27 Posted: 02 Jul 2004
Sergey Chernenko, Krista Schwarz and Jonathan H. Wright
Purdue University - Department of Management, Board of Governors of the Federal Reserve System and Johns Hopkins University - Department of Economics
Downloads 1,090 (39,806)
Citation 25

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forward contracts, futures, forecast evaluation, risk premia, random walk

4.

Liquidity Transformation in Asset Management: Evidence from the Cash Holdings of Mutual Funds

Downloads 787 (62,508)
Citation 12

Liquidity Transformation in Asset Management: Evidence from the Cash Holdings of Mutual Funds

Fisher College of Business Working Paper No. 2016-03-05, Charles A. Dice Center Working Paper No. 2016-5
Number of pages: 62 Posted: 18 Feb 2016 Last Revised: 16 Jul 2016
Sergey Chernenko and Adi Sunderam
Purdue University - Department of Management and Harvard University - Business School (HBS)
Downloads 569 (93,401)

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liquidity transformation, asset management, mutual funds, cash holdings, fire sales

Liquidity Transformation in Asset Management: Evidence from the Cash Holdings of Mutual Funds

ESRB: Working Paper Series No. 2016/23
Number of pages: 63 Posted: 05 Nov 2020
Sergey Chernenko and Adi Sunderam
Purdue University - Department of Management and Harvard University - Business School (HBS)
Downloads 123 (441,137)
Citation 3

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liquidity transformation, asset management, mutual funds, cash holdings, fire sales

Liquidity Transformation in Asset Management: Evidence from the Cash Holdings of Mutual Funds

NBER Working Paper No. w22391
Number of pages: 63 Posted: 11 Jul 2016 Last Revised: 08 Mar 2023
Sergey Chernenko and Aditya Sunderam
Purdue University - Department of Management and Harvard University
Downloads 95 (533,464)
Citation 10

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5.

Frictions in Shadow Banking: Evidence from the Lending Behavior of Money Market Funds

Fisher College of Business Working Paper No. 2012-4, Charles A. Dice Working Paper No. 2012-03-004
Number of pages: 49 Posted: 26 Jan 2012 Last Revised: 18 Sep 2012
Sergey Chernenko and Adi Sunderam
Purdue University - Department of Management and Harvard University - Business School (HBS)
Downloads 762 (65,219)
Citation 87

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Money market mutual funds, European sovereign debt crisis, runs, contagion, risk taking

6.

The High-Frequency Effects of U.S. Macroeconomic Data Releases on Prices and Trading Activity in the Global Interdealer Foreign Exchange Market

Number of pages: 42 Posted: 01 Dec 2004
Alain Chaboud, Sergey Chernenko, Edward Howorka, Raj S.K. Iyer, David Liu and Jonathan H. Wright
Board of Governors of the Federal Reserve System, Purdue University - Department of Management, EBS Group Limited, EBS Group Limited, EBS and Johns Hopkins University - Department of Economics
Downloads 729 (69,047)
Citation 30

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Foreign exchange, trading volume, news announcements, high-frequency data, conditional mean, conditional volatility

7.

Agency Costs, Mispricing, and Ownership Structure

Downloads 557 (97,095)
Citation 1

Agency Costs, Mispricing, and Ownership Structure

Number of pages: 49 Posted: 13 Nov 2009 Last Revised: 13 Apr 2010
Sergey Chernenko, C. Fritz Foley and Robin M. Greenwood
Purdue University - Department of Management, Harvard University - Business School (HBS) and Harvard Business School - Finance Unit
Downloads 508 (107,545)

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Ownership, Agency Costs, Mispricing

Agency Costs, Mispricing, and Ownership Structure

NBER Working Paper No. w15910
Number of pages: 49 Posted: 19 Apr 2010 Last Revised: 23 Jun 2023
Sergey Chernenko, C. Fritz Foley and Robin M. Greenwood
Purdue University - Department of Management, Harvard University - Business School (HBS) and Harvard Business School - Finance Unit
Downloads 49 (764,535)

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8.

Racial Disparities in the Paycheck Protection Program

Downloads 526 (104,235)
Citation 6

Racial Disparities in the Paycheck Protection Program

Number of pages: 45 Posted: 20 Aug 2021 Last Revised: 07 Feb 2023
Sergey Chernenko and David S. Scharfstein
Purdue University - Department of Management and Harvard Business School - Finance Unit
Downloads 485 (113,687)
Citation 2

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discrimination, Paycheck Protection Program, Economic Injury Disaster Loans, bank lending, nonbank lending

Racial Disparities in the Paycheck Protection Program

NBER Working Paper No. w29748
Number of pages: 52 Posted: 17 Feb 2022 Last Revised: 14 Apr 2023
Sergey Chernenko and David S. Scharfstein
Purdue University - Department of Management and Harvard Business School - Finance Unit
Downloads 41 (822,903)
Citation 4

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9.

Why are Firms Using Interest Rate Swaps to Time the Yield Curve?

Number of pages: 47 Posted: 28 Jul 2005
Michael W. Faulkender and Sergey Chernenko
University of Maryland - Robert H. Smith School of Business and Purdue University - Department of Management
Downloads 440 (129,054)
Citation 5

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Interest Rate Swaps, Market Timing, Myopia, Speculation

10.

The Front Men of Wall Street:The Role of CDO Collateral Managers in the CDO Boom and Bust

Journal of Finance, Forthcoming, Fisher College of Business Working Paper No. 2015-03-12, Charles A. Dice Center Working Paper No. 2015-12
Number of pages: 56 Posted: 12 Jul 2015 Last Revised: 22 Oct 2016
Sergey Chernenko
Purdue University - Department of Management
Downloads 424 (134,713)
Citation 4

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CDOs, conflicts of interest, franchise value, asset management, risk taking, specialization

11.

Trading Activity and Exchange Rates in High-Frequency EBS Data

FRB International Finance Discussion Paper No. 903
Number of pages: 37 Posted: 27 Sep 2007
Alain Chaboud, Sergey Chernenko and Jonathan H. Wright
Board of Governors of the Federal Reserve System, Purdue University - Department of Management and Johns Hopkins University - Department of Economics
Downloads 387 (149,591)
Citation 5

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Trading volume, foreign exchange, high-frequency data, news announcements

12.

Order Flow and Exchange Rate Dynamics in Electronic Brokerage System Data

FRB International Finance Discussion Paper No. 830
Number of pages: 35 Posted: 25 Apr 2005
David W. Berger, Alain Chaboud, Sergey Chernenko, Edward Howorka, Raj S.K. Iyer, David Liu and Jonathan H. Wright
U.S. Board of Governors of the Federal Reserve System - Division of International Finance, Board of Governors of the Federal Reserve System, Purdue University - Department of Management, EBS Group Limited, EBS Group Limited, EBS and Johns Hopkins University - Department of Economics
Downloads 323 (182,164)
Citation 33

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order flow, foreign exchange, high-frequency data, news announcements

13.

The Rise and Fall of Demand for Securitizations

Downloads 266 (222,839)
Citation 3

The Rise and Fall of Demand for Securitizations

Fisher College of Business Working Paper No. 2014-03-16, Charles A. Dice Center Working Paper No. 2014-16
Number of pages: 50 Posted: 19 Dec 2014
Sergey Chernenko, Samuel Gregory Hanson and Adi Sunderam
Purdue University - Department of Management, Harvard University - Business School (HBS) and Harvard University - Business School (HBS)
Downloads 191 (304,577)

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securitization, mutual funds, insurance companies, financial crises, fire sales, risk taking, reinforcement learning

The Rise and Fall of Demand for Securitizations

NBER Working Paper No. w20777
Number of pages: 50 Posted: 22 Dec 2014 Last Revised: 10 Apr 2022
Sergey Chernenko, Samuel Gregory Hanson and Aditya Sunderam
Purdue University - Department of Management, Harvard University - Business School (HBS) and Harvard University
Downloads 75 (617,812)

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14.

Do Fire Sales Create Externalities?

Downloads 247 (239,688)
Citation 42

Do Fire Sales Create Externalities?

Number of pages: 60 Posted: 13 Oct 2017 Last Revised: 24 Sep 2018
Sergey Chernenko and Adi Sunderam
Purdue University - Department of Management and Harvard University - Business School (HBS)
Downloads 219 (268,068)

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fire sales, mutual funds, liquidity management, externalities

Do Fire Sales Create Externalities?

NBER Working Paper No. w25104
Number of pages: 61 Posted: 01 Oct 2018 Last Revised: 04 Feb 2023
Sergey Chernenko and Aditya Sunderam
Purdue University - Department of Management and Harvard University
Downloads 28 (936,730)
Citation 1

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15.

Measuring the Perceived Liquidity of the Corporate Bond Market

Downloads 241 (245,699)

Measuring the Perceived Liquidity of the Corporate Bond Market

Number of pages: 44 Posted: 20 May 2020
Sergey Chernenko and Aditya Sunderam
Purdue University - Department of Management and Harvard University
Downloads 137 (405,066)

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liquidity, corporate bonds, mutual funds, municipal bonds

Measuring the Perceived Liquidity of the Corporate Bond Market

NBER Working Paper No. w27092
Number of pages: 45 Posted: 05 May 2020 Last Revised: 12 Jul 2023
Sergey Chernenko and Aditya Sunderam
Purdue University - Department of Management and Harvard University
Downloads 104 (500,991)

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16.

Mutual Fund Liquidity Creation

Number of pages: 38 Posted: 30 Jan 2022
Sergey Chernenko and Viet-Dung Doan
Purdue University - Department of Management and Hong Kong Baptist University
Downloads 229 (258,087)

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liquidity creation, municipal bonds, mutual funds

17.

Forced Sales and Dealer Choice in OTC Markets

Number of pages: 41 Posted: 18 Feb 2021
Sergey Chernenko and Viet-Dung Doan
Purdue University - Department of Management and Hong Kong Baptist University
Downloads 217 (271,415)

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dealers, fire sales, liquidity, municipal bonds, mutual funds, OTC markets

18.

Applications or Approvals: What Drives Racial Disparities in the Paycheck Protection Program?

Downloads 173 (333,520)

Applications or Approvals: What Drives Racial Disparities in the Paycheck Protection Program?

Number of pages: 65 Posted: 22 Nov 2022 Last Revised: 02 Aug 2024
Sergey Chernenko, Nathan Kaplan, Asani Sarkar and David S. Scharfstein
Purdue University - Department of Management, Harvard University Department of Economics, Federal Reserve Bank of New York and Harvard Business School - Finance Unit
Downloads 132 (417,336)
Citation 2

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discrimination, racial disparities, Paycheck Protection Program, bank lending, fintech lending, administrative burden

Applications or Approvals: What Drives Racial Disparities in the Paycheck Protection Program?

FRB of New York Staff Report No. 1060, Rev. July 2024
Number of pages: 74 Posted: 17 May 2023
Sergey Chernenko, Nathan Kaplan, Asani Sarkar and David S. Scharfstein
Purdue University - Department of Management, Harvard University Department of Economics, Federal Reserve Banks - Federal Reserve Bank of New York and Harvard Business School - Finance Unit
Downloads 36 (863,444)

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discrimination, racial disparities, Paycheck Protection Program, bank lending, fintech lending, administrative burden

Applications or Approvals: What Drives Racial Disparities in the Paycheck Protection Program?

NBER Working Paper No. w31172
Number of pages: 50 Posted: 01 May 2023 Last Revised: 15 May 2023
Sergey Chernenko, Nathan Kaplan, Asani Sarkar and David S. Scharfstein
Purdue University - Department of Management, Harvard University Department of Economics, Federal Reserve Banks - Federal Reserve Bank of New York and Harvard Business School - Finance Unit
Downloads 5 (1,198,810)
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19.

The Limits of Algorithmic Measures of Race in Studies of Outcome Disparities

Number of pages: 35 Posted: 26 Apr 2023
Sergey Chernenko and David S. Scharfstein
Purdue University - Department of Management and Harvard Business School - Finance Unit
Downloads 145 (386,572)

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machine learning, race, measurement error, racial disparities, Paycheck Protection Program

20.

Flow-Induced Trading: Evidence from the Daily Trading of Municipal Bond Mutual Funds

Number of pages: 74 Posted: 30 Jan 2024
Sergey Chernenko and Viet-Dung Doan
Purdue University - Department of Management and Hong Kong Baptist University
Downloads 107 (487,097)

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fire sales, mutual fund flows, municipal bonds, liquidity management, daily trading