Heitor Almeida

University of Illinois at Urbana-Champaign

Stanley C. and Joan J. Golder Professor of Corporate Finance

515 East Gregory Drive

4037 BIF

Champaign, IL 61820

United States

http://www.business.illinois.edu/FacultyProfile/faculty_profile.aspx?ID=11357

National Bureau of Economic Research (NBER)

Research Associate

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • University of Illinois at Urbana-Champaign

SCHOLARLY PAPERS

39

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30,115

SSRN CITATIONS
Rank 243

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Top 243

in Total Papers Citations

755

CROSSREF CITATIONS

1,924

Scholarly Papers (39)

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1.

The Cash Flow Sensitivity of Cash

Downloads 2,837 ( 4,201)

The Cash Flow Sensitivity of Cash

Number of pages: 34 Posted: 23 May 2003
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and Ohio State University (OSU) - Department of Finance
Downloads 2,837 (4,106)
Citation 248

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Cash flow sensitivity of cash, financial constraints, cash policy, macroeconomic innovations

The Cash Flow Sensitivity of Cash

AFA 2004 San Diego Meetings
Posted: 24 Jul 2003
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and Ohio State University (OSU) - Department of Finance

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Cash flow sensitivity of cash, financial constraints, cash policy, macroeconomic innovations

2.

A Theory of Pyramidal Ownership and Family Business Groups

Downloads 2,411 ( 5,492)
Citation 140

A Theory of Pyramidal Ownership and Family Business Groups

Number of pages: 50 Posted: 17 May 2005
Heitor Almeida and Daniel Wolfenzon
University of Illinois at Urbana-Champaign and Columbia Business School - Finance and Economics
Downloads 2,313 (5,767)
Citation 17

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pyramids, business groups, family firms, investor protection, ownership structure, dual-class shares.

A Theory of Pyramidal Ownership and Family Business Groups

NBER Working Paper No. w11368
Number of pages: 51 Posted: 24 Jun 2005 Last Revised: 26 Jul 2010
Heitor Almeida and Daniel Wolfenzon
University of Illinois at Urbana-Champaign and Columbia Business School - Finance and Economics
Downloads 98 (278,832)
Citation 5

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3.

Financial Constraints and Investment-Cash Flow Sensitivities: New Research Directions

Twelfth Annual Utah Winter Finance Conference
Number of pages: 26 Posted: 29 Jan 2002
Heitor Almeida and Murillo Campello
University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 2,345 (5,777)
Citation 32

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investment, cash-flow, investment-cash flow sensitivities, financial constraints, credit rationing

4.

The Real Effects of Share Repurchases

Forthcoming, Journal of Financial Economics (JFE)
Number of pages: 58 Posted: 08 Jun 2013 Last Revised: 19 Jun 2015
Heitor Almeida, Vyacheslav Fos and Mathias Kronlund
University of Illinois at Urbana-Champaign, Boston College - Department of Finance and University of Illinois at Urbana-Champaign
Downloads 1,979 (7,662)
Citation 18

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Share repurchases, employment, investment, regression discontinuity

5.

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

Downloads 1,644 ( 10,430)
Citation 157

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 1,562 (11,110)
Citation 2

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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 61 (369,661)

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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 (549,687)
Citation 11
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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

6.

Powerful CEOS and Their Impact on Corporate Performance

Downloads 1,598 ( 10,940)
Citation 52

Powerful CEOS and Their Impact on Corporate Performance

AFA 2004 San Diego Meetings; EFA 2002 Berlin Meetings Discussion Paper
Number of pages: 36 Posted: 11 Nov 2003
Heitor Almeida, Renee B. Adams and Daniel Ferreira
University of Illinois at Urbana-Champaign, University of Oxford and London School of Economics - Department of Finance
Downloads 1,598 (10,743)
Citation 52

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Powerful CEOS and Their Impact on Corporate Performance

The Review of Financial Studies, Vol. 18, Issue 4, pp. 1403-1432, 2005
Posted: 29 Feb 2008
Renee B. Adams, Heitor Almeida and Daniel Ferreira
University of Oxford, University of Illinois at Urbana-Champaign and London School of Economics - Department of Finance

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brain metastases, HRQoL, stereotactic radiosurgery

7.

Financial Constraints, Asset Tangibility, and Corporate Investment

Downloads 1,537 ( 11,575)
Citation 153

Financial Constraints, Asset Tangibility, and Corporate Investment

AFA 2005 Philadelphia Meetings, Forthcoming
Number of pages: 45 Posted: 31 Aug 2004
Heitor Almeida and Murillo Campello
University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 1,467 (12,210)
Citation 4

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Investment-cash flow sensitivities, asset tangibility, financial constraints, credit multiplier, errors-in-variables, GMM

Financial Constraints, Asset Tangibility, and Corporate Investment

NBER Working Paper No. w12087
Number of pages: 37 Posted: 11 May 2006 Last Revised: 13 Jul 2010
Heitor Almeida and Murillo Campello
University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 70 (343,306)
Citation 13

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Financial Constraints, Asset Tangibility, and Corporate Investment

Review of Financial Studies, Vol. 20, Issue 5, pp. 1429-1460, 2007
Posted: 25 Jun 2008
Heitor Almeida and Murillo Campello
University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management

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G31

8.

The Real Effects of Credit Ratings: The Sovereign Ceiling Channel

Journal of Finance, Forthcoming
Number of pages: 75 Posted: 03 Nov 2013 Last Revised: 05 Oct 2017
Heitor Almeida, Igor Cunha, Miguel A. Ferreira and Felipe Restrepo
University of Illinois at Urbana-Champaign, University of Kentucky, Nova School of Business and Economics and University of Western Ontario - Richard Ivey School of Business
Downloads 1,350 (14,247)
Citation 10

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Credit ratings, Sovereign bonds, Sovereign ceiling, Cost of capital, Investment, Capital structure

9.

Corporate Financial and Investment Policies when Future Financing is Not Frictionless

Downloads 1,192 ( 17,221)
Citation 56

Corporate Financial and Investment Policies when Future Financing is Not Frictionless

Charles A. Dice Center Working Paper No. 2008-16 and Fisher College of Business Working Paper No. 2008-03-015
Number of pages: 37 Posted: 15 Nov 2006 Last Revised: 27 Sep 2010
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and Ohio State University (OSU) - Department of Finance
Downloads 1,124 (18,473)
Citation 3

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financial constraints, types of investment, capital budgeting, risk shifting

Corporate Financial and Investment Policies When Future Financing is Not Frictionless

NBER Working Paper No. w12773
Number of pages: 41 Posted: 23 Dec 2006 Last Revised: 17 May 2007
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and Ohio State University (OSU) - Department of Finance
Downloads 68 (348,865)
Citation 2

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10.

Understanding the Relationship between Founder-CEOs and Firm Performance

Journal of Empirical Finance, Forthcoming
Number of pages: 37 Posted: 19 Nov 2003 Last Revised: 23 Jul 2012
Renee B. Adams, Heitor Almeida and Daniel Ferreira
University of Oxford, University of Illinois at Urbana-Champaign and London School of Economics - Department of Finance
Downloads 1,170 (17,720)
Citation 51

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founders, family firms, founder-CEO succession

11.

The Risk-Adjusted Cost of Financial Distress

Downloads 1,109 ( 19,199)
Citation 109

The Risk-Adjusted Cost of Financial Distress

8th Annual Texas Finance Festival
Number of pages: 44 Posted: 29 Sep 2005
Heitor Almeida and Thomas Philippon
University of Illinois at Urbana-Champaign and New York University (NYU) - Department of Finance
Downloads 1,033 (20,907)
Citation 1

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Bankrupcty, corporate valuation, capital structure, default risk, yield spreads, debt conservatism

The Risk-Adjusted Cost of Financial Distress

NBER Working Paper No. w11685
Number of pages: 54 Posted: 15 Dec 2005 Last Revised: 27 Mar 2010
Heitor Almeida and Thomas Philippon
University of Illinois at Urbana-Champaign and New York University (NYU) - Department of Finance
Downloads 76 (327,345)
Citation 10

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12.

Liquidity Mergers

Downloads 1,061 ( 20,488)
Citation 8

Liquidity Mergers

Journal of Financial Economics (JFE), Forthcoming, AFA 2010 Atlanta Meetings Paper
Number of pages: 66 Posted: 18 Mar 2009 Last Revised: 14 Feb 2012
Heitor Almeida, Murillo Campello and Dirk Hackbarth
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and Boston University - Department of Finance & Economics
Downloads 1,030 (21,008)
Citation 9

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Mergers and acquisitions, credit lines, cash, asset specificity, financial distress

Liquidity Mergers

NBER Working Paper No. w16724
Number of pages: 67 Posted: 31 Jan 2011 Last Revised: 02 Feb 2011
Heitor Almeida, Murillo Campello and Dirk Hackbarth
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and Boston University - Department of Finance & Economics
Downloads 31 (489,217)

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13.

Less is More: Financial Constraints and Innovative Efficiency

Number of pages: 59 Posted: 09 May 2011 Last Revised: 21 Sep 2018
Heitor Almeida, Po-Hsuan Hsu and Dongmei Li
University of Illinois at Urbana-Champaign, National Tsing Hua University - Department of Quantitative Finance and University of South Carolina - Darla Moore School of Business - Department of Finance
Downloads 1,016 (21,840)
Citation 2

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innovative efficiency, financial constraints

14.

Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis

Downloads 941 ( 24,439)
Citation 39

Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis

Number of pages: 50 Posted: 17 May 2009 Last Revised: 15 Sep 2011
Heitor Almeida, Murillo Campello, Bruno A. Laranjeira and Scott J. Weisbenner
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Illinois at Urbana-Champaign and University of Illinois at Urbana-Champaign - Department of Finance
Downloads 822 (29,199)
Citation 40

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Financial crisis, debt maturity, matching estimators, investment spending, financing constraints

Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis

NBER Working Paper No. w14990
Number of pages: 36 Posted: 26 May 2009 Last Revised: 10 Jun 2009
Heitor Almeida, Murillo Campello, Bruno A. Laranjeira and Scott J. Weisbenner
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Illinois at Urbana-Champaign and University of Illinois at Urbana-Champaign - Department of Finance
Downloads 119 (242,809)

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15.

Financing Frictions and the Substitution Between Internal and External Funds

AFA 2008 New Orleans Meetings Paper
Number of pages: 36 Posted: 19 Mar 2007 Last Revised: 23 Apr 2008
Heitor Almeida and Murillo Campello
University of Illinois at Urbana-Champaign and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 936 (24,653)
Citation 5

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Capital structure, external financing, pecking order, financial constraints, investment, GMM, business cycles

16.

The Financial Accelerator: Evidence from International Housing Markets

AFA 2007 Chicago Meetings Paper
Number of pages: 32 Posted: 18 Mar 2006
Heitor Almeida, Crocker H. Liu and Murillo Campello
University of Illinois at Urbana-Champaign, Arizona State University and Cornell University - Samuel Curtis Johnson Graduate School of Management
Downloads 823 (29,615)
Citation 32

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financial accelerator, housing prices, collateral constraint, income constraint, credit multiplier

17.

Internal Capital Markets in Business Groups: Evidence from the Asian Financial Crisis

Downloads 688 ( 37,829)
Citation 36

Internal Capital Markets in Business Groups: Evidence from the Asian Financial Crisis

Journal of Finance, Forthcoming
Number of pages: 72 Posted: 18 Sep 2011 Last Revised: 13 Feb 2015
Heitor Almeida, Chang Soo Kim and Hwanki Brian Kim
University of Illinois at Urbana-Champaign, Yonsei University - Department of Medical Engineering and Baylor University - Department of Finance, Insurance & Real Estate
Downloads 393 (76,042)
Citation 37

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Chaebol, corporate investment, difference-in-differences matching estimator, family firms, capital reallocation

The Effect of Internal Capital Markets on Corporate Investment: Evidence from the Asian Financial Crisis

AFA 2013 San Diego Meetings Paper
Number of pages: 43 Posted: 15 Mar 2012
Heitor Almeida and Chang Soo Kim
University of Illinois at Urbana-Champaign and Yonsei University - Department of Medical Engineering
Downloads 295 (105,450)
Citation 2

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Business groups, chaebol, difference-in-differences matching estimator, family firms, capital reallocation

18.

Should Business Groups Be Dismantled? The Equilibrium Costs of Efficient Internal Capital Markets

Downloads 651 ( 40,743)
Citation 49

Should Business Groups Be Dismantled? The Equilibrium Costs of Efficient Internal Capital Markets

AFA 2005 Philadelphia Meetings
Number of pages: 40 Posted: 05 Jan 2005
Heitor Almeida and Daniel Wolfenzon
University of Illinois at Urbana-Champaign and Columbia Business School - Finance and Economics
Downloads 443 (65,796)
Citation 4

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capital allocation, conglomerates, investor protection, internal capital markets

Should Business Groups Be Dismantled? The Equilibrium Costs of Efficient Internal Capital Markets

Journal of Financial Economics, Forthcoming
Number of pages: 51 Posted: 01 Jun 2005
Heitor Almeida and Daniel Wolfenzon
University of Illinois at Urbana-Champaign and Columbia Business School - Finance and Economics
Downloads 208 (150,680)
Citation 3

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Capital allocation, Conglomerates, Investor protection, Internal capital markets

19.

Corporate Liquidity Management: A Conceptual Framework and Survey

Downloads 534 ( 52,723)
Citation 31

Corporate Liquidity Management: A Conceptual Framework and Survey

Fisher College of Business Working Paper No. 2013-03-15, Charles A. Dice Center Working Paper No. 2013-15
Number of pages: 46 Posted: 06 Oct 2013
Heitor Almeida, Murillo Campello, Igor Cunha and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Kentucky and Ohio State University (OSU) - Department of Finance
Downloads 499 (56,817)
Citation 2

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Liquidity, Cash, Financial Constraints, Financial Crisis

Corporate Liquidity Management: A Conceptual Framework and Survey

NBER Working Paper No. w19502
Number of pages: 46 Posted: 05 Oct 2013
Heitor Almeida, Murillo Campello, Igor Cunha and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Kentucky and Ohio State University (OSU) - Department of Finance
Downloads 35 (469,257)
Citation 2

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Corporate Liquidity Management: A Conceptual Framework and Survey

Annual Review of Financial Economics, Vol. 6, pp. 135-162, 2014
Posted: 25 Nov 2014
Heitor Almeida, Murillo Campello, Igor Cunha and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Kentucky and Ohio State University (OSU) - Department of Finance

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20.

Credit Lines as Monitored Liquidity Insurance: Theory and Evidence

Downloads 506 ( 56,459)
Citation 47

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 453 (64,119)
Citation 3

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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 44 (429,922)
Citation 1

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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 9 (632,915)
Citation 9

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21.

More Cash, Less Innovation: The Effect of the American Jobs Creation Act on Patent Value

Number of pages: 54 Posted: 18 Apr 2017 Last Revised: 16 May 2019
Heitor Almeida, Po-Hsuan Hsu, Dongmei Li and Kevin Tseng
University of Illinois at Urbana-Champaign, National Tsing Hua University - Department of Quantitative Finance, University of South Carolina - Darla Moore School of Business - Department of Finance and Federal Reserve Bank of Richmond
Downloads 480 (60,330)
Citation 6

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Financial Slack, Innovation Strategy, Agency Problem

22.

The Structure and Formation of Business Groups: Evidence from Korean Chaebols

Downloads 419 ( 71,187)
Citation 56

The Structure and Formation of Business Groups: Evidence from Korean Chaebols

NYU Working Paper No. FIN-08-012
Number of pages: 57 Posted: 09 Mar 2009 Last Revised: 15 Sep 2011
Heitor Almeida, Sang Yong Park, Marti G. Subrahmanyam and Daniel Wolfenzon
University of Illinois at Urbana-Champaign, Yonsei University, New York University (NYU) - Department of Finance and Columbia Business School - Finance and Economics
Downloads 386 (77,644)
Citation 7

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Business groups, family firms, firm performance, pyramids, cross-shareholdings, parent company discount

The Structure and Formation of Business Groups: Evidence from Korean Chaebols

NBER Working Paper No. w14983
Number of pages: 48 Posted: 26 May 2009 Last Revised: 29 Oct 2014
Heitor Almeida, Sang Yong Park, Marti G. Subrahmanyam and Daniel Wolfenzon
University of Illinois at Urbana-Champaign, Yonsei University, New York University (NYU) - Department of Finance and Columbia Business School - Finance and Economics
Downloads 33 (478,906)

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23.

Understanding the Credit Multiplier: The Working Capital Channel

29th Annual Conference on Financial Economics & Accounting 2018
Number of pages: 60 Posted: 16 Nov 2017 Last Revised: 21 Oct 2018
Heitor Almeida, Daniel R. Carvalho and Taehyun Kim
University of Illinois at Urbana-Champaign, Indiana University - Kelley School of Business and University of Notre Dame - Department of Finance
Downloads 372 (81,779)
Citation 4

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Credit Multiplier, Working Capital, Financing Frictions

24.

Democracy and the Variability of Economic Performance

Downloads 366 ( 83,359)
Citation 23

Democracy and the Variability of Economic Performance

Number of pages: 54 Posted: 18 Mar 2002
Heitor Almeida and Daniel Ferreira
University of Illinois at Urbana-Champaign and London School of Economics - Department of Finance
Downloads 334 (91,870)

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Democracy, autocracy, growth, variability, fallibility, centralization of decision-making

Democracy and the Variability of Economic Performance

Economics and Politics, Vol. 14, pp. 225-257, 2002
Number of pages: 33 Posted: 06 Feb 2003
Heitor Almeida and Daniel Ferreira
University of Illinois at Urbana-Champaign and London School of Economics - Department of Finance
Downloads 32 (483,963)
Citation 2
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25.

Measurement Errors in Investment Equations

Downloads 291 (107,591)
Citation 3

Measurement Errors in Investment Equations

Number of pages: 52 Posted: 23 Mar 2010 Last Revised: 06 Apr 2010
Heitor Almeida, Murillo Campello and Antonio F. Galvao
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Illinois at Urbana-Champaign - Department of Economics
Downloads 254 (123,598)
Citation 3

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Investment equations, measurement error, Monte Carlo simulations, instrumental variables, GMM

Measurement Errors in Investment Equations

NBER Working Paper No. w15951
Number of pages: 55 Posted: 03 May 2010 Last Revised: 06 Aug 2010
Heitor Almeida, Murillo Campello and Antonio F. Galvao
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Illinois at Urbana-Champaign - Department of Economics
Downloads 37 (459,985)

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26.

Aggregate Risk and the Choice between Cash and Lines of Credit

Downloads 278 (112,970)
Citation 65

Aggregate Risk and the Choice between Cash and Lines of Credit

Journal of Finance, Forthcoming
Number of pages: 85 Posted: 01 Aug 2012
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 221 (142,109)

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bank lines of credit, cash holdings, liquidity management, systematic risk, loan spreads, loan

Aggregate Risk and the Choice between Cash and Lines of Credit

NBER Working Paper No. w16122
Number of pages: 48 Posted: 29 Jun 2010 Last Revised: 22 Jul 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 (382,563)

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Aggregate Risk and the Choice between Cash and Lines of Credit

CEPR Discussion Paper No. DP8913
Number of pages: 67 Posted: 04 Apr 2012
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 0
Citation 5
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asset beta, bank lines of credit, cash holdings, liquidity management, loan maturity, loan spreads, systemic risk

27.

Credit Lines and the Liquidity Insurance Channel

Number of pages: 42 Posted: 15 Jun 2016 Last Revised: 23 Jun 2018
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 271 (115,997)
Citation 5

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liquidity management, cash holdings, liquidity risk, investment, lending channel, credit lines

28.

Risk Management with Supply Contracts

Downloads 249 (126,710)
Citation 11

Risk Management with Supply Contracts

Accepted, The Review of Financial Studies
Number of pages: 58 Posted: 04 Jun 2016 Last Revised: 23 Mar 2017
Heitor Almeida, Kristine Watson Hankins and Ryan Williams
University of Illinois at Urbana-Champaign, University of Kentucky and University of Arizona - Department of Finance
Downloads 235 (133,797)

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Risk management, supply contracts, liquidity management

Risk Management with Supply Contracts

NBER Working Paper No. w23331
Number of pages: 59 Posted: 17 Apr 2017
Heitor Almeida, Kristine Watson Hankins and Ryan Williams
University of Illinois at Urbana-Champaign, University of Kentucky and University of Arizona - Department of Finance
Downloads 14 (597,104)
Citation 5

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29.

Is It Time to Get Rid of Earnings-per-Share (EPS)?

Number of pages: 53 Posted: 06 Dec 2018
Heitor Almeida
University of Illinois at Urbana-Champaign
Downloads 246 (128,266)

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Short-Termism, Stock Repurchases, R&D Investments, Employment, Mergers, Executive Compensation

30.

Bank Lines of Credit as Contingent Liquidity: A Study of Covenant Violations and Their Implications

ECB Working Paper No. 1702
Number of pages: 42 Posted: 02 Aug 2014
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 208 (150,941)

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lines of credit, firm financial constraints, bank financial health, covenant violations

31.

More on the Performance of Higher Order Moment Estimators in Investment Equations

Number of pages: 41 Posted: 07 Oct 2010
Heitor Almeida, Murillo Campello and Antonio F. Galvao
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Illinois at Urbana-Champaign - Department of Economics
Downloads 194 (161,106)
Citation 3

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Investment equations, measurement error, Monte Carlo simulations, instrumental variables, GMM

32.

Bank Lines of Credit as Contingent Liquidity: Covenant Violations and Their Implications

Number of pages: 46 Posted: 16 Oct 2017
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 165 (185,974)
Citation 6

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Lines of Credit, Bank Financial Health, Covenant Violations

33.

Corporate Demand for Liquidity

NBER Working Paper No. w9253
Number of pages: 44 Posted: 04 Oct 2002 Last Revised: 19 Nov 2002
Heitor Almeida, Murillo Campello and Michael S. Weisbach
University of Illinois at Urbana-Champaign, Cornell University - Samuel Curtis Johnson Graduate School of Management and Ohio State University (OSU) - Department of Finance
Downloads 99 (275,124)

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34.

Do Short-Term Incentives Affect Long-Term Productivity?

Downloads 67 (347,527)

Do Short-Term Incentives Affect Long-Term Productivity?

Number of pages: 43 Posted: 01 Jul 2019
Heitor Almeida, Nuri Ersahin, Vyacheslav Fos, Rustom M. Irani and Mathias Kronlund
University of Illinois at Urbana-Champaign, Michigan State University-Department of Finance, Boston College - Department of Finance, University of Illinois at Urbana-Champaign - Department of Finance and University of Illinois at Urbana-Champaign
Downloads 67 (351,778)

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Productivity, Employment, Labor Unions, Investment, Short-termism, Share Repurchases

Do Short-Term Incentives Affect Long-Term Productivity?

CEPR Discussion Paper No. DP13894
Number of pages: 46 Posted: 02 Aug 2019
Heitor Almeida, Nuri Ersahin, Vyacheslav Fos, Rustom M. Irani and Mathias Kronlund
University of Illinois at Urbana-Champaign, Michigan State University-Department of Finance, Boston College - Department of Finance, University of Illinois at Urbana-Champaign - Department of Finance and University of Illinois at Urbana-Champaign
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employment, investment, Labor Unions, productivity, Share repurchases, Short-termism

35.

Do Firms Hedge During Distress?

Number of pages: 51 Posted: 10 Jun 2019
Heitor Almeida, Kristine Watson Hankins and Ryan Williams
University of Illinois at Urbana-Champaign, University of Kentucky and University of Arizona - Department of Finance
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36.

The Impact of Obamacare on Firm Employment and Performance

Number of pages: 45 Posted: 21 Nov 2017 Last Revised: 03 Oct 2019
Heitor Almeida, Ruidi Huang, Ping Liu and Yuhai Xuan
University of Illinois at Urbana-Champaign, Southern Methodist University (SMU) - Finance Department, Krannert School of Management, Purdue University and University of California, Irvine - Paul Merage School of Business
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37.

Estimating Risk-Adjusted Costs of Financial Distress

Journal of Applied Corporate Finance, Vol. 20, Issue 4, pp. 105-109, Fall 2008
Number of pages: 7 Posted: 18 Dec 2008
Heitor Almeida and Thomas Philippon
University of Illinois at Urbana-Champaign and New York University (NYU) - Department of Finance
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38.

The Effect of External Finance on the Equilibrium Allocation of Capital

Journal of Financial Economics, Forthcoming
Posted: 01 Sep 2004
Heitor Almeida and Daniel Wolfenzon
University of Illinois at Urbana-Champaign and Columbia Business School - Finance and Economics

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capital reallocation, financial development, investor protection, external finance

39.

Optimal State-Dependent Rules, Credibility and the Cost of Disinflation

Working Paper No. 359 Departamento de Economia-PUC-Rio
Posted: 27 Mar 1997
Marco Bonomo and Heitor Almeida
Insper Institute of Education and Research and University of Illinois at Urbana-Champaign

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