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Anna Kovner

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Mark J. Flannery & Beverly Hirtle & Anna Kovner, 2015. "Evaluating the information in the Federal Reserve stress tests," Staff Reports 744, Federal Reserve Bank of New York.

    Mentioned in:

    1. The “question” or the “answer”? Market reaction to UK stress tests
      by bankunderground in Bank Underground on 2015-11-09 13:30:59

Working papers

  1. Marco Cipriani & Thomas M. Eisenbach & Anna Kovner, 2024. "Tracing Bank Runs in Real Time," Staff Reports 1104, Federal Reserve Bank of New York.

    Cited by:

    1. David P. Glancy & Felicia Ionescu & Elizabeth C. Klee & Antonis Kotidis & Michael Siemer & Andrei Zlate, 2024. "The 2023 Banking Turmoil and the Bank Term Funding Program," Finance and Economics Discussion Series 2024-045, Board of Governors of the Federal Reserve System (U.S.).

  2. Danny Brando & Antonis Kotidis & Anna Kovner & Michael Junho Lee & Stacey L. Schreft, 2022. "Implications of Cyber Risk for Financial Stability," FEDS Notes 2022-05-12, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Hałaj, Grzegorz & Martinez-Jaramillo, Serafin & Battiston, Stefano, 2024. "Financial stability through the lens of complex systems," Journal of Financial Stability, Elsevier, vol. 71(C).

  3. Thomas M. Eisenbach & Anna Kovner & Michael Junho Lee, 2022. "When It Rains, It Pours: Cyber Risk and Financial Conditions," Staff Reports 1022, Federal Reserve Bank of New York.

    Cited by:

    1. Jin, Justin & Li, Na & Liu, Suyi & Khalid Nainar, S.M., 2023. "Cyber attacks, discretionary loan loss provisions, and banks’ earnings management," Finance Research Letters, Elsevier, vol. 54(C).

  4. Nina Boyarchenko & Richard K. Crump & Anna Kovner & Or Shachar, 2021. "Corporate Bond Market Distress," Staff Reports 957, Federal Reserve Bank of New York.

    Cited by:

    1. Boyarchenko, Nina & Kovner, Anna & Shachar, Or, 2022. "It’s what you say and what you buy: A holistic evaluation of the corporate credit facilities," Journal of Financial Economics, Elsevier, vol. 144(3), pages 695-731.
    2. Nina Boyarchenko & Caren Cox & Richard K. Crump & Andrew Danzig & Anna Kovner & Or Shachar & Patrick Steiner, 2021. "COVID Response: The Primary and Secondary Corporate Credit Facilities," Staff Reports 986, Federal Reserve Bank of New York.

  5. Nina Boyarchenko & Caren Cox & Richard K. Crump & Andrew Danzig & Anna Kovner & Or Shachar & Patrick Steiner, 2021. "COVID Response: The Primary and Secondary Corporate Credit Facilities," Staff Reports 986, Federal Reserve Bank of New York.

    Cited by:

    1. Boyarchenko, Nina & Kovner, Anna & Shachar, Or, 2022. "It’s what you say and what you buy: A holistic evaluation of the corporate credit facilities," Journal of Financial Economics, Elsevier, vol. 144(3), pages 695-731.

  6. Celso Brunetti & Benjamin Dennis & Dylan Gates & Diana Hancock & David Ignell & Elizabeth K. Kiser & Gurubala Kotta & Anna Kovner & Richard J. Rosen & Nicholas K. Tabor, 2021. "Climate Change and Financial Stability," FEDS Notes 2021-03-19-3, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Eisei Ohtaki, 2023. "Climate change, financial intermediation, and monetary policy," Working Papers e179, Tokyo Center for Economic Research.
    2. Karydas, Christos & Xepapadeas, Anastasios, 2022. "Climate change financial risks: Implications for asset pricing and interest rates," Journal of Financial Stability, Elsevier, vol. 63(C).
    3. Eisei Ohtaki, 2023. "Does climate change lead financial instability?: A benchmark result," Working Papers e175, Tokyo Center for Economic Research.
    4. Laura Bakkensen & Toan Phan & Russell Wong, 2023. "Leveraging the Disagreement on Climate Change: Theory and Evidence," Working Paper 23-01, Federal Reserve Bank of Richmond.
    5. Lingke Wu & Dehong Liu & Tiantian Lin, 2023. "The Impact of Climate Change on Financial Stability," Sustainability, MDPI, vol. 15(15), pages 1-18, July.
    6. Alan Munodei & Athenia Bongani Sibindi, 2023. "Fintech Innovation in Social Service Provision: A Bibliometric Review," Social Sciences, MDPI, vol. 12(1), pages 1-22, January.

  7. Nina Boyarchenko & Richard K. Crump & Anna Kovner & Deborah Leonard, 2021. "COVID Response: The Commercial Paper Funding Facility," Staff Reports 982, Federal Reserve Bank of New York.

    Cited by:

    1. Matteo Aquilina & Andreas Schrimpf & Karamfil Todorov, 2023. "CP and CDs markets: a primer," BIS Quarterly Review, Bank for International Settlements, September.
    2. Metrick, Andrew, 2022. "Market Support Programs: COVID-19 Crisis," Journal of Financial Crises, Yale Program on Financial Stability (YPFS), vol. 4(2), pages 179-219, April.
    3. Jean Barthélémy & Paul Gardin & Benoit Nguyen, 2023. "Stablecoins and the Financing of the Real Economy," Working papers 908, Banque de France.

  8. Marco Cipriani & Andrew F. Haughwout & Benjamin Hyman & Anna Kovner & Gabriele La Spada & Matthew Lieber & Shawn Nee, 2020. "Municipal Debt Markets and the COVID-19 Pandemic," Liberty Street Economics 20200629, Federal Reserve Bank of New York.

    Cited by:

    1. Marco Cipriani & Gabriele La Spada, 2020. "Sophisticated and Unsophisticated Runs," Staff Reports 956, Federal Reserve Bank of New York.
    2. Huixin Bi & W. Blake Marsh, 2020. "Flight to Liquidity or Safety? Recent Evidence from the Municipal Bond Market," Research Working Paper RWP 20-19, Federal Reserve Bank of Kansas City.
    3. Andrew F. Haughwout & Benjamin Hyman & Or Shachar, 2021. "The Option Value of Municipal Liquidity: Evidence from Federal Lending Cutoffs during COVID-19," Staff Reports 988, Federal Reserve Bank of New York.
    4. Tracy Gordon & Lucy Dadayan & Kim Rueben, 2020. "State and Local Government Finances in the COVID-19 Era," National Tax Journal, National Tax Association;National Tax Journal, vol. 73(3), pages 733-758, September.
    5. Bordo, Michael D. & Duca, John V., 2023. "How the new fed municipal bond facility capped municipal-treasury yield spreads in the Covid-19 recession," Journal of the Japanese and International Economies, Elsevier, vol. 67(C).
    6. Robert Bernhardt & Stefania D'Amico & Santiago I. Sordo Palacios, 2021. "The Impact of Covid-19 Related Policy Responses on Municipal Debt Markets," Working Paper Series WP-2021-14, Federal Reserve Bank of Chicago.
    7. Tran, Nhu & Uzmanoglu, Cihan, 2023. "Reprint of: COVID-19, lockdowns, and the municipal bond market," Journal of Banking & Finance, Elsevier, vol. 147(C).
    8. John Bagley & Nicholas Fritsch & Shawn Nee, 2021. "Municipal Markets and the Municipal Liquidity Facility," Working Papers 21-07, Federal Reserve Bank of Cleveland.
    9. Tran, Nhu & Uzmanoglu, Cihan, 2022. "COVID-19, lockdowns, and the municipal bond market," Journal of Banking & Finance, Elsevier, vol. 143(C).

  9. Anna Kovner & Antoine Martin, 2020. "The Official Sector’s Response to the Coronavirus Pandemic and Moral Hazard," Liberty Street Economics 20200924, Federal Reserve Bank of New York.

    Cited by:

    1. Michael J. Fleming & Haoyang Liu & Rich Podjasek & Jake Schurmeier, 2021. "The Federal Reserve’s Market Functioning Purchases," Staff Reports 998, Federal Reserve Bank of New York.

  10. Nina Boyarchenko & Anna Kovner & Or Shachar, 2020. "It's What You Say and What You Buy: A Holistic Evaluation of the Corporate Credit Facilities," CESifo Working Paper Series 8679, CESifo.

    Cited by:

    1. Kenechukwu E. Anadu & Sean Baker & John Levin & Victoria Liu & Antoine Malfroy-Camine & Noam Tanner, 2022. "Swing Pricing Calibration: A Simple Thought Exercise Using ETF Pricing Dynamics to Infer Swing Factors for Mutual Funds," Supervisory Research and Analysis Notes, Federal Reserve Bank of Boston, issue 2022-06, pages 1-18, January.
    2. Massimiliano Affinito & Raffaele Santioni, 2021. "When the panic broke out: COVID-19 and investment funds' portfolio rebalancing around the world," Temi di discussione (Economic working papers) 1342, Bank of Italy, Economic Research and International Relations Area.
    3. Harry R. Cooperman & Darrell Duffie & Stephan Luck & Zachry Z. Wang & Yilin Yang, 2023. "Bank Funding Risk, Reference Rates, and Credit Supply," NBER Working Papers 30907, National Bureau of Economic Research, Inc.
    4. Mahyar Kargar & Benjamin Lester & David Lindsay & Shuo Liu & Pierre-Olivier Weill & Diego Zuniga, 2020. "Corporate Bond Liquidity During the COVID-19 Crisis," Working Papers WP 20-43, Federal Reserve Bank of Philadelphia.
    5. Xu, Hui & Pennacchi, George G., 2023. "Benchmarking the effects of the Fed's Secondary Market Corporate Credit Facility using Yankee bonds," Journal of Financial Markets, Elsevier, vol. 64(C).
    6. Antonio Falato & Itay Goldstein & Ali Hortaçsu, 2020. "Financial Fragility in the COVID-19 Crisis: The Case of Investment Funds in Corporate Bond Markets," NBER Working Papers 27559, National Bureau of Economic Research, Inc.
    7. Breckenfelder, Johannes & Hoerova, Marie, 2023. "Do non-banks need access to the lender of last resort? Evidence from fund runs," Working Paper Series 2805, European Central Bank.
    8. Alice Abboud & Elizabeth Duncan & Akos Horvath & Diana A. Iercosan & Bert Loudis & Francis Martinez & Timothy Mooney & Ben Ranish & Ke Wang & Missaka Warusawitharana & Carlo Wix, 2021. "COVID-19 as a Stress Test: Assessing the Bank Regulatory Framework," Finance and Economics Discussion Series 2021-024, Board of Governors of the Federal Reserve System (U.S.).
    9. David O. Lucca & Jonathan H. Wright, 2024. "The Narrow Channel of Quantitative Easing: Evidence from YCC Down Under," Journal of Finance, American Finance Association, vol. 79(2), pages 1055-1085, April.
    10. Anderson, Christopher S. & McArthur, David C. & Wang, Ke, 2023. "Internal risk limits of dealers and corporate bond market making," Journal of Banking & Finance, Elsevier, vol. 147(C).
    11. Zhiguo He & Stefan Nagel & Zhaogang Song, 2020. "Treasury Inconvenience Yields during the COVID-19 Crisis," NBER Working Papers 27416, National Bureau of Economic Research, Inc.
    12. Andrew F. Haughwout & Benjamin Hyman & Or Shachar, 2021. "The Option Value of Municipal Liquidity: Evidence from Federal Lending Cutoffs during COVID-19," Staff Reports 988, Federal Reserve Bank of New York.
    13. Andrew F. Haughwout & Benjamin Hyman & Or Shachar, 2021. "COVID Response: The Municipal Liquidity Facility," Staff Reports 985, Federal Reserve Bank of New York.
    14. Nina Boyarchenko & Caren Cox & Richard K. Crump & Andrew Danzig & Anna Kovner & Or Shachar & Patrick Steiner, 2022. "The Primary and Secondary Corporate Credit Facilities," Economic Policy Review, Federal Reserve Bank of New York, vol. 28(1), July.
    15. Thomas M. Eisenbach & Gregory Phelan, 2022. "Fragility of Safe Asset Markets," Staff Reports 1026, Federal Reserve Bank of New York.
    16. Zaghini, Andrea, 2024. "Unconventional green," Journal of Corporate Finance, Elsevier, vol. 85(C).
    17. Nina Boyarchenko & Richard K. Crump & Anna Kovner & Or Shachar, 2024. "Corporate Bond Market Distress," Working Paper 24-09, Federal Reserve Bank of Richmond.
    18. Patricia C. Mosser, 2020. "Central bank responses to COVID-19," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 55(4), pages 191-201, October.
    19. Camelia Minoiu & Rebecca Zarutskie & Andrei Zlate, 2021. "Motivating Banks to Lend? Credit Spillover Effects of the Main Street Lending Program," Finance and Economics Discussion Series 2021-078, Board of Governors of the Federal Reserve System (U.S.).
    20. Nina Boyarchenko & Caren Cox & Richard K. Crump & Andrew Danzig & Anna Kovner & Or Shachar & Patrick Steiner, 2021. "COVID Response: The Primary and Secondary Corporate Credit Facilities," Staff Reports 986, Federal Reserve Bank of New York.
    21. Cesa-Bianchi, Ambrogio & Czech, Robert & Eguren Martin, Fernando, 2021. "Dash for Dollars," CEPR Discussion Papers 16415, C.E.P.R. Discussion Papers.
    22. Andrew F. Haughwout & Benjamin Hyman & Or Shachar, 2022. "The Municipal Liquidity Facility," Economic Policy Review, Federal Reserve Bank of New York, vol. 28(1), July.
    23. Mahdi Ebsim & Miguel Faria-e-Castro & Julian Kozlowski, 2020. "Credit and Liquidity Policies during Large Crises," Working Papers 2020-035, Federal Reserve Bank of St. Louis, revised 22 Feb 2024.
    24. Simon Gilchrist & Bin Wei & Vivian Z. Yue & Egon Zakrajšek, 2020. "The Fed Takes on Corporate Credit Risk: An Analysis of the Efficacy of the SMCCF," NBER Working Papers 27809, National Bureau of Economic Research, Inc.
    25. Pegoraro, Stefano & Montagna, Mattia, 2021. "Issuance and valuation of corporate bonds with quantitative easing," Working Paper Series 2520, European Central Bank.
    26. Metrick, Andrew, 2022. "Market Support Programs: COVID-19 Crisis," Journal of Financial Crises, Yale Program on Financial Stability (YPFS), vol. 4(2), pages 179-219, April.
    27. Cimon, David A. & Walton, Adrian, 2024. "Central bank liquidity facilities and market making," Journal of Banking & Finance, Elsevier, vol. 162(C).
    28. Augustin, Patrick & Sokolovski, Valeri & Subrahmanyam, Marti G. & Tomio, Davide, 2022. "In sickness and in debt: The COVID-19 impact on sovereign credit risk," Journal of Financial Economics, Elsevier, vol. 143(3), pages 1251-1274.
    29. Valentin Haddad & Alan Moreira & Tyler Muir, 2021. "When Selling Becomes Viral: Disruptions in Debt Markets in the COVID-19 Crisis and the Fed’s Response [Funding value adjustments]," The Review of Financial Studies, Society for Financial Studies, vol. 34(11), pages 5309-5351.
    30. W. Blake Marsh & Padma Sharma, 2021. "Government Loan Guarantees during a Crisis: The Effect of the PPP on Bank Lending and Profitability," Research Working Paper RWP 21-03, Federal Reserve Bank of Kansas City.
    31. Filippo Occhino, 2020. "Quantitative Easing and Direct Lending in Response to the COVID-19 Crisis," Working Papers 20-29, Federal Reserve Bank of Cleveland.
    32. Baviera, Roberto & Nassigh, Aldo & Nastasi, Emanuele, 2021. "A closed formula for illiquid corporate bonds and an application to the European market," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 71(C).
    33. John J Shim & Karamfil Todorov, 2021. "ETFs, illiquid assets, and fire sales," BIS Working Papers 975, Bank for International Settlements.
    34. O'Hara, Maureen & Zhou, Xing (Alex), 2021. "Anatomy of a liquidity crisis: Corporate bonds in the COVID-19 crisis," Journal of Financial Economics, Elsevier, vol. 142(1), pages 46-68.
    35. Telg, Sean & Dubinova, Anna & Lucas, Andre, 2023. "Covid-19, credit risk management modeling, and government support," Journal of Banking & Finance, Elsevier, vol. 147(C).
    36. Bouri, Elie & Alsagr, Naif, 2024. "Hedging investment-grade and high-yield bonds with credit VIX," Economics Letters, Elsevier, vol. 237(C).
    37. Kamate, Vidya, 2023. "Unconventional monetary policy measures and money markets: Estimating the impact of targeted repo operations on asset prices," Finance Research Letters, Elsevier, vol. 55(PB).
    38. Dmitry Khametshin, 2021. "High-yield bond markets during the COVID-19 crisis: the role of monetary policy," Occasional Papers 2110, Banco de España.
    39. Corradin, Stefano & Schwaab, Bernd, 2023. "Euro area sovereign bond risk premia before and during the Covid-19 pandemic," European Economic Review, Elsevier, vol. 153(C).

  11. Nina Boyarchenko & Domenico Giannone & Anna Kovner, 2020. "Bank Capital and Real GDP Growth," Staff Reports 950, Federal Reserve Bank of New York.

    Cited by:

    1. Gonzalez Rivera, Gloria & Rodríguez Caballero, Carlos Vladimir, 2021. "Expecting the unexpected: economic growth under stress," DES - Working Papers. Statistics and Econometrics. WS 32148, Universidad Carlos III de Madrid. Departamento de Estadística.
    2. Nina Boyarchenko & Giovanni Favara & Moritz Schularick, 2022. "Financial Stability Considerations for Monetary Policy: Empirical Evidence and Challenges," Finance and Economics Discussion Series 2022-006, Board of Governors of the Federal Reserve System (U.S.).

  12. Cipriani, Marco & Afonso, Gara & Copeland, Adam & Kovner, Anna & La Spada, Gabriele & Martin, Antoine, 2020. "The market events of mid-September 2019," CEPR Discussion Papers 14467, C.E.P.R. Discussion Papers.

    Cited by:

    1. Bank for International Settlements, 2020. "US dollar funding: an international perspective," CGFS Papers, Bank for International Settlements, number 65, October –.
    2. Lu, Yundi & Valcarcel, Victor J., 2024. "A tale of two tightenings," Journal of Economic Dynamics and Control, Elsevier, vol. 166(C).
    3. Bosshardt, Joshua & Kakhbod, Ali & Saidi, Farzad, 2022. "The Bank Liquidity Channel of Financial (In)stability," CEPR Discussion Papers 16438, C.E.P.R. Discussion Papers.
    4. Andrew Lee Smith & Victor J. Valcarcel, 2021. "The Financial Market Effects of Unwinding the Federal Reserve’s Balance Sheet," Research Working Paper RWP 20-23, Federal Reserve Bank of Kansas City.
    5. Copeland, Adam & Duffie, Darrell & Yang, Yilin (David), 2021. "Reserves Were Not So Ample after All," Research Papers 3974, Stanford University, Graduate School of Business.
    6. Ellen Ryan & Karl Whelan, 2023. "A Model of QE, Reserve Demand, and the Money Multiplier," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(2-3), pages 407-439, March.
    7. Eisenschmidt, Jens & Ma, Yiming & Zhang, Anthony Lee, 2024. "Monetary policy transmission in segmented markets," Journal of Financial Economics, Elsevier, vol. 151(C).
    8. Sundaresan, Suresh & Xiao, Kairong, 2024. "Liquidity regulation and banks: Theory and evidence," Journal of Financial Economics, Elsevier, vol. 151(C).
    9. Sriya Anbil & Alyssa G. Anderson & Zeynep Senyuz, 2021. "Are Repo Markets Fragile? Evidence from September 2019," Finance and Economics Discussion Series 2021-028, Board of Governors of the Federal Reserve System (U.S.).
    10. Olivier Armantier & Marco Cipriani & Asani Sarkar, 2024. "Discount Window Stigma After the Global Financial Crisis," Staff Reports 1137, Federal Reserve Bank of New York.

  13. Boyarchenko, Nina & Kovner, Anna & Shachar, Or, 2020. "It’s what you say and what you buy: A holistic evaluation of the Corporate Credit Facilities," CEPR Discussion Papers 15432, C.E.P.R. Discussion Papers.

    Cited by:

    1. Kenechukwu E. Anadu & Sean Baker & John Levin & Victoria Liu & Antoine Malfroy-Camine & Noam Tanner, 2022. "Swing Pricing Calibration: A Simple Thought Exercise Using ETF Pricing Dynamics to Infer Swing Factors for Mutual Funds," Supervisory Research and Analysis Notes, Federal Reserve Bank of Boston, issue 2022-06, pages 1-18, January.
    2. Massimiliano Affinito & Raffaele Santioni, 2021. "When the panic broke out: COVID-19 and investment funds' portfolio rebalancing around the world," Temi di discussione (Economic working papers) 1342, Bank of Italy, Economic Research and International Relations Area.
    3. Mahyar Kargar & Benjamin Lester & David Lindsay & Shuo Liu & Pierre-Olivier Weill & Diego Zuniga, 2020. "Corporate Bond Liquidity During the COVID-19 Crisis," Working Papers WP 20-43, Federal Reserve Bank of Philadelphia.
    4. Antonio Falato & Itay Goldstein & Ali Hortaçsu, 2020. "Financial Fragility in the COVID-19 Crisis: The Case of Investment Funds in Corporate Bond Markets," NBER Working Papers 27559, National Bureau of Economic Research, Inc.
    5. Alice Abboud & Elizabeth Duncan & Akos Horvath & Diana A. Iercosan & Bert Loudis & Francis Martinez & Timothy Mooney & Ben Ranish & Ke Wang & Missaka Warusawitharana & Carlo Wix, 2021. "COVID-19 as a Stress Test: Assessing the Bank Regulatory Framework," Finance and Economics Discussion Series 2021-024, Board of Governors of the Federal Reserve System (U.S.).
    6. Huixin Bi & W. Blake Marsh, 2020. "Flight to Liquidity or Safety? Recent Evidence from the Municipal Bond Market," Research Working Paper RWP 20-19, Federal Reserve Bank of Kansas City.
    7. Anderson, Christopher S. & McArthur, David C. & Wang, Ke, 2023. "Internal risk limits of dealers and corporate bond market making," Journal of Banking & Finance, Elsevier, vol. 147(C).
    8. Zhiguo He & Stefan Nagel & Zhaogang Song, 2020. "Treasury Inconvenience Yields during the COVID-19 Crisis," NBER Working Papers 27416, National Bureau of Economic Research, Inc.
    9. Andrew F. Haughwout & Benjamin Hyman & Or Shachar, 2021. "The Option Value of Municipal Liquidity: Evidence from Federal Lending Cutoffs during COVID-19," Staff Reports 988, Federal Reserve Bank of New York.
    10. Andrew F. Haughwout & Benjamin Hyman & Or Shachar, 2021. "COVID Response: The Municipal Liquidity Facility," Staff Reports 985, Federal Reserve Bank of New York.
    11. Nina Boyarchenko & Richard K. Crump & Anna Kovner & Or Shachar, 2024. "Corporate Bond Market Distress," Working Paper 24-09, Federal Reserve Bank of Richmond.
    12. Patricia C. Mosser, 2020. "Central bank responses to COVID-19," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 55(4), pages 191-201, October.
    13. Camelia Minoiu & Rebecca Zarutskie & Andrei Zlate, 2021. "Motivating Banks to Lend? Credit Spillover Effects of the Main Street Lending Program," Finance and Economics Discussion Series 2021-078, Board of Governors of the Federal Reserve System (U.S.).
    14. Andrew F. Haughwout & Benjamin Hyman & Or Shachar, 2022. "The Municipal Liquidity Facility," Economic Policy Review, Federal Reserve Bank of New York, vol. 28(1), July.
    15. Simon Gilchrist & Bin Wei & Vivian Z. Yue & Egon Zakrajšek, 2020. "The Fed Takes on Corporate Credit Risk: An Analysis of the Efficacy of the SMCCF," NBER Working Papers 27809, National Bureau of Economic Research, Inc.
    16. Pegoraro, Stefano & Montagna, Mattia, 2021. "Issuance and valuation of corporate bonds with quantitative easing," Working Paper Series 2520, European Central Bank.
    17. Metrick, Andrew, 2022. "Market Support Programs: COVID-19 Crisis," Journal of Financial Crises, Yale Program on Financial Stability (YPFS), vol. 4(2), pages 179-219, April.
    18. Cimon, David A. & Walton, Adrian, 2024. "Central bank liquidity facilities and market making," Journal of Banking & Finance, Elsevier, vol. 162(C).
    19. Augustin, Patrick & Sokolovski, Valeri & Subrahmanyam, Marti G. & Tomio, Davide, 2022. "In sickness and in debt: The COVID-19 impact on sovereign credit risk," Journal of Financial Economics, Elsevier, vol. 143(3), pages 1251-1274.
    20. Valentin Haddad & Alan Moreira & Tyler Muir, 2021. "When Selling Becomes Viral: Disruptions in Debt Markets in the COVID-19 Crisis and the Fed’s Response [Funding value adjustments]," The Review of Financial Studies, Society for Financial Studies, vol. 34(11), pages 5309-5351.
    21. W. Blake Marsh & Padma Sharma, 2021. "Government Loan Guarantees during a Crisis: The Effect of the PPP on Bank Lending and Profitability," Research Working Paper RWP 21-03, Federal Reserve Bank of Kansas City.
    22. Filippo Occhino, 2020. "Quantitative Easing and Direct Lending in Response to the COVID-19 Crisis," Working Papers 20-29, Federal Reserve Bank of Cleveland.
    23. John J Shim & Karamfil Todorov, 2021. "ETFs, illiquid assets, and fire sales," BIS Working Papers 975, Bank for International Settlements.
    24. O'Hara, Maureen & Zhou, Xing (Alex), 2021. "Anatomy of a liquidity crisis: Corporate bonds in the COVID-19 crisis," Journal of Financial Economics, Elsevier, vol. 142(1), pages 46-68.
    25. Dmitry Khametshin, 2021. "High-yield bond markets during the COVID-19 crisis: the role of monetary policy," Occasional Papers 2110, Banco de España.

  14. Nina Boyarchenko & Richard K. Crump & Anna Kovner & Or Shachar & Peter Van Tassel, 2020. "The Primary and Secondary Market Corporate Credit Facilities," Liberty Street Economics 20200526a, Federal Reserve Bank of New York.

    Cited by:

    1. Larry D. Wall, 2021. "So Far, So Good: Government Insurance of Financial Sector Tail Risk," Policy Hub, Federal Reserve Bank of Atlanta, vol. 2021(13), November.
    2. Nina Boyarchenko & Caren Cox & Richard K. Crump & Andrew Danzig & Anna Kovner & Or Shachar & Patrick Steiner, 2022. "The Primary and Secondary Corporate Credit Facilities," Economic Policy Review, Federal Reserve Bank of New York, vol. 28(1), July.
    3. Nina Boyarchenko & Caren Cox & Richard K. Crump & Andrew Danzig & Anna Kovner & Or Shachar & Patrick Steiner, 2021. "COVID Response: The Primary and Secondary Corporate Credit Facilities," Staff Reports 986, Federal Reserve Bank of New York.
    4. Mahdi Ebsim & Miguel Faria-e-Castro & Julian Kozlowski, 2020. "Credit and Liquidity Policies during Large Crises," Working Papers 2020-035, Federal Reserve Bank of St. Louis, revised 22 Feb 2024.

  15. Thomas M. Eisenbach & Anna Kovner & Michael Junho Lee, 2020. "Cyber Risk and the U.S. Financial System: A Pre-Mortem Analysis," Staff Reports 909, Federal Reserve Bank of New York.

    Cited by:

    1. José Ramón Martínez Resano, 2022. "Digital resilience and financial stability. The quest for policy tools in the financial sector," Financial Stability Review, Banco de España, issue Autumn.
    2. Chang, Jin-Wook & Jayachandran, Kartik & Ramírez, Carlos A. & Tintera, Ali, 2024. "On the anatomy of cyberattacks," Economics Letters, Elsevier, vol. 238(C).
    3. Martin Boyer & Martin Eling, 2023. "New advances on cyber risk and cyber insurance," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 48(2), pages 267-274, April.
    4. Aldasoro, Iñaki & Gambacorta, Leonardo & Giudici, Paolo & Leach, Thomas, 2022. "The drivers of cyber risk," Journal of Financial Stability, Elsevier, vol. 60(C).
    5. Crosignani, Matteo & Macchiavelli, Marco & Silva, André F., 2023. "Pirates without borders: The propagation of cyberattacks through firms’ supply chains," Journal of Financial Economics, Elsevier, vol. 147(2), pages 432-448.
    6. Gunay, Samet & Goodell, John W. & Muhammed, Shahnawaz & Kirimhan, Destan, 2023. "Frequency connectedness between FinTech, NFT and DeFi: Considering linkages to investor sentiment," International Review of Financial Analysis, Elsevier, vol. 90(C).
    7. Matteo Malavasi & Gareth W. Peters & Stefan Treuck & Pavel V. Shevchenko & Jiwook Jang & Georgy Sofronov, 2024. "Cyber Risk Taxonomies: Statistical Analysis of Cybersecurity Risk Classifications," Papers 2410.05297, arXiv.org.
    8. José Ramón Martínez Resano, 2022. "Digital resilience and financial stability. The quest for policy tools in the financial sector," Revista de Estabilidad Financiera, Banco de España, issue Otoño.
    9. Paolo Giudici & Emanuela Raffinetti, 2021. "Cyber risk ordering with rank-based statistical models," AStA Advances in Statistical Analysis, Springer;German Statistical Society, vol. 105(3), pages 469-484, September.
    10. Any Flore Djoumessi Djoukouo, 2023. "Recessions and recoveries in Central African countries: Lessons from the past," Journal of International Development, John Wiley & Sons, Ltd., vol. 35(6), pages 1121-1142, August.

  16. Denise Duffy & Joseph G. Haubrich & Anna Kovner & Alex Musatov & Edward Simpson Prescott & Richard J. Rosen & Thomas D. Tallarini & Alexandros Vardoulakis & Emily Yang & Andrei Zlate, 2019. "Macroprudential Policy: Results from a Tabletop Exercise," Working Papers 19-11, Federal Reserve Bank of Cleveland.

    Cited by:

    1. Jonathan Goldberg & Elizabeth C. Klee & Edward Simpson Prescott & Paul R. Wood, 2020. "Monetary Policy Strategies and Tools: Financial Stability Considerations," Finance and Economics Discussion Series 2020-074, Board of Governors of the Federal Reserve System (U.S.).

  17. Anna Kovner & Peter Van Tassel, 2018. "Evaluating regulatory reform: banks’ cost of capital and lending," Staff Reports 854, Federal Reserve Bank of New York.

    Cited by:

    1. Sanders, Emiel & Simoens, Mathieu & Vander Vennet, Rudi, 2024. "Curse and blessing: The effect of the dividend ban on euro area bank valuations and syndicated lending," Journal of Banking & Finance, Elsevier, vol. 163(C).
    2. Irena Pyka & Aleksandra Nocoń, 2021. "Bank Risk Capital and Its Effectiveness in Selected Euro Area Banking Sectors," JRFM, MDPI, vol. 14(11), pages 1-18, November.
    3. Jason Roderick Donaldson & Giorgia Piacentino & Anjan Thakor, 2021. "Intermediation Variety," Journal of Finance, American Finance Association, vol. 76(6), pages 3103-3152, December.
    4. Koetter, Michael & Krause, Thomas & Sfrappini, Eleonora & Tonzer, Lena, 2022. "Completing the European Banking Union: Capital cost consequences for credit providers and corporate borrowers," European Economic Review, Elsevier, vol. 148(C).
    5. Satish Thosar & Bradley Schwandt, 2019. "Has ‘Too Big To Fail’ Been Solved? A Longitudinal Analysis of Major U.S. Banks," JRFM, MDPI, vol. 12(1), pages 1-14, February.
    6. Richard K. Crump & João A. C. Santos, 2018. "Review of New York Fed studies on the effects of post-crisis banking reforms," Economic Policy Review, Federal Reserve Bank of New York, issue 24-2, pages 71-90.

  18. Anna Kovner & Peter Van Tassel & Brandon Zborowski, 2018. "Regulatory Changes and the Cost of Capital for Banks," Liberty Street Economics 20181001a, Federal Reserve Bank of New York.

    Cited by:

    1. Irena Pyka & Aleksandra Nocoń, 2021. "Bank Risk Capital and Its Effectiveness in Selected Euro Area Banking Sectors," JRFM, MDPI, vol. 14(11), pages 1-18, November.
    2. Matteo Benetton, 2021. "Leverage Regulation and Market Structure: A Structural Model of the U.K. Mortgage Market," Journal of Finance, American Finance Association, vol. 76(6), pages 2997-3053, December.
    3. Nguyen, Thach Vu Hong & Ahmed, Shamim & Chevapatrakul, Thanaset & Onali, Enrico, 2020. "Do stress tests affect bank liquidity creation?," Journal of Corporate Finance, Elsevier, vol. 64(C).
    4. Satish Thosar & Bradley Schwandt, 2019. "Has ‘Too Big To Fail’ Been Solved? A Longitudinal Analysis of Major U.S. Banks," JRFM, MDPI, vol. 12(1), pages 1-14, February.
    5. Richard K. Crump & João A. C. Santos, 2018. "Review of New York Fed studies on the effects of post-crisis banking reforms," Economic Policy Review, Federal Reserve Bank of New York, issue 24-2, pages 71-90.
    6. García, Raffi E. & Steele, Suzanne, 2022. "Stress testing and bank business patterns: A regression discontinuity study," Journal of Banking & Finance, Elsevier, vol. 135(C).

  19. Beverly Hirtle & Anna Kovner & Matthew Plosser, 2016. "The impact of supervision on bank performance," Staff Reports 768, Federal Reserve Bank of New York.

    Cited by:

    1. Anya V. Kleymenova & Rimmy E. Tomy, 2021. "Observing Enforcement: Evidence from Banking," Finance and Economics Discussion Series 2021-049, Board of Governors of the Federal Reserve System (U.S.).
    2. Mr. Nicola Pierri & Mr. Yannick Timmer, 2020. "Tech in Fin before FinTech: Blessing or Curse for Financial Stability?," IMF Working Papers 2020/014, International Monetary Fund.
    3. Degryse, Hans & Mariathasan, Mike & Tang, Hien T., 2023. "GSIB status and corporate lending," Journal of Corporate Finance, Elsevier, vol. 80(C).
    4. Chen, Yu & Gao, Yu & Shu, Lei & Zhu, Xiaonan, 2023. "Network effects on risk co-movements: A network quantile autoregression-based analysis," Finance Research Letters, Elsevier, vol. 56(C).
    5. Kok, Christoffer & Müller, Carola & Ongena, Steven & Pancaro, Cosimo, 2021. "The disciplining effect of supervisory scrutiny in the EU-wide stress test," Working Paper Series 2551, European Central Bank.
    6. Fuchs, Larissa & Ngyuen, Huyen & Nguyen, Trang & Schaeck, Klaus, 2024. "Climate stress tests, bank lending, and the transition to the carbon-neutral economy," IWH Discussion Papers 9/2024, Halle Institute for Economic Research (IWH), revised 2024.
    7. Joel Shapiro & Jing Zeng, 2024. "Stress Testing and Bank Lending," The Review of Financial Studies, Society for Financial Studies, vol. 37(4), pages 1265-1314.
    8. Thomas M. Eisenbach & David O. Lucca & Robert M. Townsend, 2022. "Resource Allocation in Bank Supervision: Trade‐Offs and Outcomes," Journal of Finance, American Finance Association, vol. 77(3), pages 1685-1736, June.
    9. Li, Kexin & Chen, Zhongfei & Andrikopoulos, Athanasios, 2024. "Capital inflow liberalization and bank credit risk," Journal of International Money and Finance, Elsevier, vol. 142(C).
    10. John Kandrac & Bernd Schlusche, 2017. "The Effect of Bank Supervision on Risk Taking : Evidence from a Natural Experiment," Finance and Economics Discussion Series 2017-079, Board of Governors of the Federal Reserve System (U.S.).
    11. Ding, Bin Yan & Wei, Feng, 2023. "Overlapping membership between risk management committee and audit committee and bank risk-taking: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 86(C).
    12. Charles W. Calomiris & Mark Carlson, 2022. "Bank Examiners’ Information and Expertise and their Role in Monitoring and Disciplining Banks Before and During the Panic of 1893," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(2-3), pages 381-423, March.
    13. Altavilla, Carlo & Boucinha, Miguel & Peydró, José-Luis & Smets, Frank, 2020. "Banking supervision, monetary policy and risk-taking: big data evidence from 15 credit registers," Working Paper Series 2349, European Central Bank.
    14. Anjan V. Thakor & Edison Yu, 2023. "Funding Liquidity Creation by Banks," Working Papers 23-02, Federal Reserve Bank of Philadelphia.
    15. Lindsay Baran & Silu Cheng, 2024. "Director awards and board effectiveness," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(1), pages 41-73, March.
    16. Borsuk, Marcin & Kowalewski, Oskar & Qi, Jianping, 2023. "The dark side of bank taxes," Journal of Banking & Finance, Elsevier, vol. 157(C).
    17. Filippo Curti & W. Scott Frame & Atanas Mihov, 2022. "Are the Largest Banking Organizations Operationally More Risky?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(5), pages 1223-1259, August.
    18. Yue, Heng & Zhang, Liandong & Zhong, Qinlin, 2022. "The politics of bank opacity," Journal of Accounting and Economics, Elsevier, vol. 73(2).
    19. Nicoletti, Allison, 2018. "The effects of bank regulators and external auditors on loan loss provisions," Journal of Accounting and Economics, Elsevier, vol. 66(1), pages 244-265.
    20. García, Raffi E. & Harithsa, Jyothsna G. & Owusu, Abena, 2024. "Adding stress in banking: Stress tests and risk-taking sentiments," Journal of Corporate Finance, Elsevier, vol. 87(C).
    21. Andreas Fuster & Matthew Plosser & James Vickery, 2018. "Does CFPB Oversight Crimp Credit?," Staff Reports 857, Federal Reserve Bank of New York.
    22. Byeongchan An & Robert M. Bushman & Anya V. Kleymenova & Rimmy E. Tomy, 2022. "Social Externalities of Bank Enforcement Actions: The Case of Minority Lending," Finance and Economics Discussion Series 2022-036, Board of Governors of the Federal Reserve System (U.S.).
    23. Granja, João & Leuz, Christian, 2020. "The Death of a Regulator: Strict Supervision, Bank Lending and Business Activity," LawFin Working Paper Series 4, Goethe University, Center for Advanced Studies on the Foundations of Law and Finance (LawFin).
    24. Jacobi, Arie & Tzur, Joseph, 2021. "Wealth distribution and probability of bank failure across countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 71(C).
    25. Jannis Bischof & Ulf Brüggemann & Holger Daske, 2023. "Asset Reclassifications and Bank Recapitalization During the Financial Crisis," Management Science, INFORMS, vol. 69(1), pages 75-100, January.
    26. Wei, Jianxing & Xu, Tong, 2024. "Banking supervision with loopholes," European Economic Review, Elsevier, vol. 161(C).
    27. Puriya Abbassi & Rajkamal Iyer & José-Luis Peydró & Paul E. Soto, 2023. "Stressed Banks? Evidence from the Largest-Ever Supervisory Review," Finance and Economics Discussion Series 2023-021, Board of Governors of the Federal Reserve System (U.S.).
    28. Sharjil M. Haque & Anya V. Kleymenova, 2023. "Private Equity and Debt Contract Enforcement: Evidence from Covenant Violations," Finance and Economics Discussion Series 2023-018, Board of Governors of the Federal Reserve System (U.S.).
    29. Chronopoulos, Dimitris K. & Wilson, John O.S. & Yilmaz, Muhammed H., 2023. "Regulatory oversight and bank risk," Journal of Financial Stability, Elsevier, vol. 64(C).
    30. Arif, Salman & Donovan, John & Gopalan, Yadav & Morris, Arthur, 2024. "Pay for prudence," Journal of Accounting and Economics, Elsevier, vol. 77(1).
    31. Gang Bai & Qiurong Yang & Elyas Elyasiani, 2022. "Managerial Risk-Taking Incentives and Bank Earnings Management: Evidence from FAS 123R," Sustainability, MDPI, vol. 14(21), pages 1-21, October.
    32. Thakor, Anjan & Yu, Edison G., 2024. "Funding liquidity creation by banks," Journal of Financial Stability, Elsevier, vol. 73(C).
    33. Hasan, Mostafa Monzur, 2022. "Corporate culture and bank debt," Finance Research Letters, Elsevier, vol. 49(C).
    34. Gabriel Chodorow‐Reich & Antonio Falato, 2022. "The Loan Covenant Channel: How Bank Health Transmits to the Real Economy," Journal of Finance, American Finance Association, vol. 77(1), pages 85-128, February.
    35. Karel Janda & Oleg Kravtsov, 2020. "Banking Supervision and Risk-Adjusted Performance inthe Host Country Environment," FFA Working Papers 3.001, Prague University of Economics and Business, revised 19 Nov 2020.
    36. Roberts, Daniel & Sarkar, Asani & Shachar, Or, 2023. "Liquidity regulations, bank lending and fire-sale risk," Journal of Banking & Finance, Elsevier, vol. 156(C).
    37. Marco Maria Mattei & Petya Platikanova, 2023. "Enhancing bank transparency: Financial reporting quality, fraudulent peers and social capital," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(3), pages 3419-3454, September.
    38. Nicolò Fraccaroli, 2019. "Supervisory Governance, Capture and Non-Performing Loans," CEIS Research Paper 471, Tor Vergata University, CEIS, revised 08 Oct 2019.
    39. Dang, Man & Puwanenthiren, Premkanth & Jones, Edward & Bui, Nguyen & Le, Thuy Dung, 2024. "Does corporate culture shape “Tone at the Top”? Evidence from earnings calls," Finance Research Letters, Elsevier, vol. 59(C).
    40. Ampudia, Miguel & Beck, Thorsten & Beyer, Andreas & Colliard, Jean-Edouard & Leonello, Agnese & Maddaloni, Angela & Marqués-Ibáñez, David, 2019. "The architecture of supervision," Working Paper Series 2287, European Central Bank.
    41. Richard K. Crump & João A. C. Santos, 2018. "Review of New York Fed studies on the effects of post-crisis banking reforms," Economic Policy Review, Federal Reserve Bank of New York, issue 24-2, pages 71-90.
    42. Wen, Huiyu & Wang, Hui & Zhao, Danni & Gao, Haoyu, 2024. "Does high-speed rail boost local bank performance? Evidence from China," International Review of Economics & Finance, Elsevier, vol. 93(PB), pages 641-658.
    43. Mais Sha'ban & Claudia Girardone & Anna Sarkisyan & Thankom Arun, 2023. "On the relationship between financial inclusion and bank performance," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 52(3), November.
    44. Stijn Claessens & Andy Law & Teng Wang, 2018. "How do credit ratings affect bank lending under capital constraints?," BIS Working Papers 747, Bank for International Settlements.
    45. Martynova, Natalya & Perotti, Enrico & Suarez, Javier, 2022. "Capital forbearance in the bank recovery and resolution game," Journal of Financial Economics, Elsevier, vol. 146(3), pages 884-904.
    46. Thomas M. Eisenbach & David O. Lucca & Robert M. Townsend, 2016. "The Economics of Bank Supervision," NBER Working Papers 22201, National Bureau of Economic Research, Inc.
    47. Chronopoulos, Dimitris K. & Johari, Edie Erman Che & Scholtens, Bert & Sobiech, Anna L. & Wilson, John O.S. & Yilmaz, Muhammed H., 2023. "Competition and bank dividends," Journal of International Money and Finance, Elsevier, vol. 137(C).
    48. Gilani, Usman & Keasey, Kevin & Vallascas, Francesco, 2021. "Board financial expertise and the capital decisions of US banks," Journal of Corporate Finance, Elsevier, vol. 71(C).
    49. Liu, Jacie Jia & Daly, Kevin & Mishra, Anil V., 2022. "Board gender diversity and bank risks: Evidence from Australia," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 1040-1052.
    50. Ivan T. Ivanov & Ben Ranish & James Wang, 2023. "Banks' Strategic Responses to Supervisory Coverage: Evidence from a Natural Experiment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(2-3), pages 503-530, March.
    51. Anna M. Costello & João Granja & Joseph Weber, 2019. "Do Strict Regulators Increase the Transparency of Banks?," Journal of Accounting Research, Wiley Blackwell, vol. 57(3), pages 603-637, June.
    52. Prachi Mishra & Ariell Reshef, 2019. "How Do Central Bank Governors Matter? Regulation and the Financial Sector," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(2-3), pages 369-402, March.
    53. Marco Molteni & Dario Pellegrino, 2021. "Lessons from the Early Establishment of Banking Supervision in Italy (1926-1936)," Quaderni di storia economica (Economic History Working Papers) 48, Bank of Italy, Economic Research and International Relations Area.
    54. Nguyen, Thi Anh Nhu, 2022. "The role of institutional quality in bank deposit growth In European transition economies," Finance Research Letters, Elsevier, vol. 47(PA).
    55. Burkhard Raunig & Michael Sigmund, 2022. "The ECB Single Supervisory Mechanism: Effects on Bank Performance and Capital Requirements (Burkhard Raunig, Michael Sigmund)," Working Papers 244, Oesterreichische Nationalbank (Austrian Central Bank).
    56. Stefan Kerbl & Katharina Steiner, 2020. "Austrian banks’ lending risk appetite in times of expansive monetary policy and tightening capital regulation," Financial Stability Report, Oesterreichische Nationalbank (Austrian Central Bank), issue 39, pages 89-109.
    57. T. Carraro & Edoardo Gaffeo & Marco Gallegati, 2021. "Risk and Strategic Complementarities: Banks Behavior, Supervision and Macroprudential Policies," Working Papers 452, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    58. Zhenni Yang & Christopher Gan & Zhaohua Li, 2019. "Role of Bank Regulation on Bank Performance: Evidence from Asia-Pacific Commercial Banks," JRFM, MDPI, vol. 12(3), pages 1-25, August.
    59. Cheng, Maoyong & Qu, Yang & Jiang, Chunxia & Zhao, Chenchen, 2022. "Is cloud computing the digital solution to the future of banking?," Journal of Financial Stability, Elsevier, vol. 63(C).

  20. Beverly Hirtle & Anna Kovner & Samantha Zeller, 2016. "Are Stress Tests Still Informative?," Liberty Street Economics 20160404, Federal Reserve Bank of New York.

    Cited by:

    1. Farmer, J. Doyne & Kleinnijenhuis, Alissa & Wetzer, Thom & Aymanns, Christopher, 2018. "Models of Financial Stability and Their Application in Stress Tests," INET Oxford Working Papers 2018-06, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.

  21. Thomas M. Eisenbach & Andrew F. Haughwout & Beverly Hirtle & Anna Kovner & David O. Lucca & Matthew Plosser, 2015. "Supervising large, complex financial companies: what do supervisors do?," Staff Reports 729, Federal Reserve Bank of New York.

    Cited by:

    1. Beverly Hirtle & Anna Kovner & Matthew Plosser, 2020. "The Impact of Supervision on Bank Performance," Journal of Finance, American Finance Association, vol. 75(5), pages 2765-2808, October.
    2. Thomas M. Eisenbach & David O. Lucca & Robert M. Townsend, 2022. "Resource Allocation in Bank Supervision: Trade‐Offs and Outcomes," Journal of Finance, American Finance Association, vol. 77(3), pages 1685-1736, June.
    3. Andrew W. Lo, 2016. "The Gordon Gekko effect: the role of culture in the financial industry," Economic Policy Review, Federal Reserve Bank of New York, issue Aug, pages 17-42.
    4. Thomas M. Eisenbach & David O. Lucca & Robert M. Townsend, 2016. "The Economics of Bank Supervision," NBER Working Papers 22201, National Bureau of Economic Research, Inc.

  22. Mark J. Flannery & Beverly Hirtle & Anna Kovner, 2015. "Evaluating the information in the Federal Reserve stress tests," Staff Reports 744, Federal Reserve Bank of New York.

    Cited by:

    1. Thomas Ian Schneider & Philip E. Strahan & Jun Yang, 2020. "Bank Stress Testing: Public Interest or Regulatory Capture?," NBER Working Papers 26887, National Bureau of Economic Research, Inc.
    2. Cecilia Parlatore, 2018. "Designing Stress Scenarios," 2018 Meeting Papers 1090, Society for Economic Dynamics.
    3. Marcelo Fernandes & Deniz Igan & Marcelo Pinheiro, 2015. "March Madness in Wall Street: (What) Does the Market Learn from Stress Tests?," Working Papers 771, Queen Mary University of London, School of Economics and Finance.
    4. Amavi S. S. Agbodji & Emmanuelle Nys & Alain Sauviat, 2021. "Do CDS Maturities Matter in the Evaluation of the Information Content of Regulatory Banking Stress Tests? Evidence from European and US Stress Tests," Revue économique, Presses de Sciences-Po, vol. 72(1), pages 65-102.
    5. Che Johari, Edie Erman & Chronopoulos, Dimitris K. & Scholtens, Bert & Sobiech, Anna L. & Wilson, John O.S., 2020. "Deposit insurance and bank dividend policy," Journal of Financial Stability, Elsevier, vol. 48(C).
    6. Beverly Hirtle & Anna Kovner, 2022. "Bank Supervision," Annual Review of Financial Economics, Annual Reviews, vol. 14(1), pages 39-56, November.
    7. Kok, Christoffer & Müller, Carola & Ongena, Steven & Pancaro, Cosimo, 2021. "The disciplining effect of supervisory scrutiny in the EU-wide stress test," Working Paper Series 2551, European Central Bank.
    8. Maria Rosa Borges & José Zorro Mendes & André Pereira, 2019. "The Value of Information: The Impact of European Union Bank Stress Tests on Stock Markets," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 25(4), pages 429-444, November.
    9. Cornett, Marcia Millon & Minnick, Kristina & Schorno, Patrick J. & Tehranian, Hassan, 2020. "An examination of bank behavior around Federal Reserve stress tests," Journal of Financial Intermediation, Elsevier, vol. 41(C).
    10. Fuchs, Larissa & Ngyuen, Huyen & Nguyen, Trang & Schaeck, Klaus, 2024. "Climate stress tests, bank lending, and the transition to the carbon-neutral economy," IWH Discussion Papers 9/2024, Halle Institute for Economic Research (IWH), revised 2024.
    11. Joel Shapiro & Jing Zeng, 2024. "Stress Testing and Bank Lending," The Review of Financial Studies, Society for Financial Studies, vol. 37(4), pages 1265-1314.
    12. G. Thomas Kingsley & Travis D. Nesmith & Anna L. Paulson & Todd Prono, 2019. "Central Clearing and Systemic Liquidity Risk," Working Paper Series WP 2019-12, Federal Reserve Bank of Chicago.
    13. Elfers, Ferdinand & Koenraadt, Jeroen, 2022. "What you don’t know won’t hurt you: Market monitoring and bank supervisors’ preference for private information," Journal of Banking & Finance, Elsevier, vol. 143(C).
    14. Harris, Richard & Karadotchev, Veselin & Sowerbutts, Rhiannon & Stoja, Evarist, 2019. "Have FSRs got news for you? Evidence from the impact of Financial Stability Reports on market activity," Bank of England working papers 792, Bank of England.
    15. Til Schuermann, 2020. "Capital Adequacy Pre‐ and Postcrisis and the Role of Stress Testing," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(S1), pages 87-105, October.
    16. Kristle Cortés & Yuliya Demyanyk & Lei Li & Elena Loutskina & Philip E. Strahan, 2018. "Stress Tests and Small Business Lending," NBER Working Papers 24365, National Bureau of Economic Research, Inc.
    17. Robin Greenwood & Samuel G. Hanson & Jeremy C. Stein & Adi Sunderam, 2017. "Strengthening and Streamlining Bank Capital Regulation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(2 (Fall)), pages 479-565.
    18. Georgios Bertsatos & Plutarchos Sakellaris, 2017. "Did the Financial Crisis affect the Market Valuation of Large Systemic U.S. Banks?," Working Papers 201709, Athens University Of Economics and Business, Department of Economics.
    19. Scott Fung & Robert Loveland, 2020. "When do informed traders acquire and trade on informational advantage? Evidence from Federal Reserve stress tests," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 40(10), pages 1459-1485, October.
    20. Charles W. Calomiris & Mark Carlson, 2022. "Bank Examiners’ Information and Expertise and their Role in Monitoring and Disciplining Banks Before and During the Panic of 1893," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(2-3), pages 381-423, March.
    21. Pancotto, Livia & ap Gwilym, Owain & Molyneux, Philip, 2023. "Deal! Market reactions to the agreement on the EU Covid-19 recovery fund," Journal of Financial Stability, Elsevier, vol. 67(C).
    22. Inostroza, Nicolas A. & Pavan, Alessandro, 0. "Adversarial coordination and public information design," Theoretical Economics, Econometric Society.
    23. Jokivuolle, Esa & Tunaru, Radu & Vioto, Davide, 2018. "Testing the systemic risk differences in banks," Bank of Finland Research Discussion Papers 13/2018, Bank of Finland.
    24. Sahin, Cenkhan & de Haan, Jakob & Neretina, Ekaterina, 2020. "Banking stress test effects on returns and risks," Journal of Banking & Finance, Elsevier, vol. 117(C).
    25. Durrani, Agha & Ongena, Steven & Ponte Marques, Aurea, 2022. "The certification role of the EU-wide stress testing exercises in the stock market. What can we learn from the stress tests (2014-2021)?," Working Paper Series 2711, European Central Bank.
    26. Luca Guerrieri & Michele Modugno, 2021. "The Information Content of Stress Test Announcements," Finance and Economics Discussion Series 2021-012, Board of Governors of the Federal Reserve System (U.S.).
    27. Melissa Woodley & Peter DaDalt & John R. Wingender, 2020. "The price and volume response to earnings announcements in the corporate bond market," The Financial Review, Eastern Finance Association, vol. 55(4), pages 669-696, November.
    28. Agarwal, Isha & Goel, Tirupam, 2024. "Bank regulation and supervision: A symbiotic relationship," Journal of Banking & Finance, Elsevier, vol. 163(C).
    29. Niepmann, Friederike & Stebunovs, Viktors, 2024. "Modeling your stress away," Journal of Banking & Finance, Elsevier, vol. 158(C).
    30. Acharya, Viral V. & Berger, Allen N. & Roman, Raluca A., 2018. "Lending implications of U.S. bank stress tests: Costs or benefits?," Journal of Financial Intermediation, Elsevier, vol. 34(C), pages 58-90.
    31. Luu, Hiep Ngoc & Vo, Xuan Vinh, 2021. "The Impact of Supervisory Stress Tests on Bank Ex-Ante Risk-Taking Behaviour: Empirical Evidence from a Quasi-Natural Experiment," International Review of Financial Analysis, Elsevier, vol. 75(C).
    32. Wael Bousselmi & Patrick Sentis & Marc Willinger, 2020. "Impact of the Brexit vote announcement on long-run market performance," Post-Print hal-03026615, HAL.
    33. Georgoutsos, Dimitris & Moratis, George, 2020. "On the informative value of the EU-wide stress tests and the determinants of banks’ stock return reactions," MPRA Paper 62773, University Library of Munich, Germany.
    34. Lukas Ahnert & Pascal Vogt & Volker Vonhoff & Florian Weigert, 2020. "Regulatory stress testing and bank performance," European Financial Management, European Financial Management Association, vol. 26(5), pages 1449-1488, November.
    35. Brunella Bruno & Immacolata Marino, 2018. "How Do Banks Respond to Non-Performing Loans?," CSEF Working Papers 513, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 30 Jul 2021.
    36. Petr Jakubik & Saida Teleu, 2024. "Do insurance stress tests matter? Evidence from the EU-wide insurance stress tests," Risk Management, Palgrave Macmillan, vol. 26(3), pages 1-27, September.
    37. Wu, Deming & Fang, Ming & Wang, Qing, 2018. "An empirical study of bank stress testing for auto loans," Journal of Financial Stability, Elsevier, vol. 39(C), pages 79-89.
    38. Lambertini, Luisa & Mukherjee, Abhik, 2022. "Stress tests and loan pricing—Evidence from syndicated loans," Finance Research Letters, Elsevier, vol. 46(PA).
    39. Tirupam Goel & Isha Agarwal, 2021. "Limits of stress-test based bank regulation," BIS Working Papers 953, Bank for International Settlements.
    40. Ahnert, Lukas & Vogt, Pascal & Vonhoff, Volker & Weigert, Florian, 2020. "Regulatory stress testing and bank performance," CFR Working Papers 20-03, University of Cologne, Centre for Financial Research (CFR).
    41. B. Camara & P. Pessarossi & T. Philippon, 2017. "Back-testing European stress tests," Débats économiques et financiers 26, Banque de France.
    42. Anna Kovner & Peter Van Tassel, 2022. "Evaluating Regulatory Reform: Banks' Cost of Capital and Lending," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(5), pages 1313-1367, August.
    43. Dmitry Orlov & Andy Skrzypacz & Pavel Zryumov, 2018. "Design of Macro-prudential Stress Tests," 2018 Meeting Papers 913, Society for Economic Dynamics.
    44. Kasim Ahmed & Giovanni Calice, 2023. "The effects of supervisory stress testing on bank lending: examining large UK banks," Journal of Banking Regulation, Palgrave Macmillan, vol. 24(2), pages 228-247, June.
    45. Paul Calem & Ricardo Correa & Seung Jung Lee, 2017. "Prudential policies and their impact on credit in the United States," BIS Working Papers 635, Bank for International Settlements.
    46. Nguyen, Thach Vu Hong & Ahmed, Shamim & Chevapatrakul, Thanaset & Onali, Enrico, 2020. "Do stress tests affect bank liquidity creation?," Journal of Corporate Finance, Elsevier, vol. 64(C).
    47. Natalya Zelenyuk & Robert Faff & Shams Pathan, 2020. "Size‐conditioned mandatory capital adequacy disclosure and bank intermediation," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(4), pages 4387-4417, December.
    48. William F. Bassett & Jose M. Berrospide, 2018. "The Impact of Post Stress Tests Capital on Bank Lending," Finance and Economics Discussion Series 2018-087, Board of Governors of the Federal Reserve System (U.S.).
    49. Lazzari, Valter & Vena, Luigi & Venegoni, Andrea, 2017. "Stress tests and asset quality reviews of banks: A policy announcement tool," Journal of Financial Stability, Elsevier, vol. 32(C), pages 86-98.
    50. Sooji Kim & Matthew Plosser & João A. C. Santos, 2017. "Macroprudential policy and the revolving door of risk: lessons from leveraged lending guidance," Staff Reports 815, Federal Reserve Bank of New York.
    51. Goldstein, Itay & Leitner, Yaron, 2018. "Stress tests and information disclosure," Journal of Economic Theory, Elsevier, vol. 177(C), pages 34-69.
    52. Abad, Pilar & Robles, M.-Dolores & Alonso Orts, Carlos, 2023. "Stress testing programs and credit risk opacity of banks: USA vs Europe," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 89(C).
    53. Paul Glasserman & Mike Li, 2022. "Should Bank Stress Tests Be Fair?," Papers 2207.13319, arXiv.org, revised May 2023.
    54. Pacicco, Fausto & Vena, Luigi & Venegoni, Andrea, 2020. "Communication and financial supervision: How does disclosure affect market stability?," Journal of Empirical Finance, Elsevier, vol. 57(C), pages 1-15.
    55. Korsgaard, Søren, 2021. "Incorporating funding costs in top-down stress tests," Journal of Financial Stability, Elsevier, vol. 52(C).
    56. Ferretti, Riccardo & Venturelli, Valeria & Azzaretto, Alessandro, 2023. "Does individual SREP results reveal real news?," Finance Research Letters, Elsevier, vol. 57(C).
    57. Zhang, Hanzhe & Hu, Yunzhi, 2020. "Overcoming Borrowing Stigma: The Design of Lending-of-Last-Resort Policies," Working Papers 2020-5, Michigan State University, Department of Economics.
    58. Avdjiev, Stefan & Jager, Maximilian, 2022. "Bank opacity - patterns and implications," CEPR Discussion Papers 17024, C.E.P.R. Discussion Papers.
    59. Braouezec, Yann & Wagalath, Lakshithe, 2019. "Strategic fire-sales and price-mediated contagion in the banking system," European Journal of Operational Research, Elsevier, vol. 274(3), pages 1180-1197.
    60. Beutel, Johannes & Metiu, Norbert & Stockerl, Valentin, 2021. "Toothless tiger with claws? Financial stability communication, expectations, and risk-taking," Journal of Monetary Economics, Elsevier, vol. 120(C), pages 53-69.
    61. Shahhosseini, Mehrnoush, 2022. "Capital requirements and banks’ behavior: Evidence from bank stress tests," The Quarterly Review of Economics and Finance, Elsevier, vol. 86(C), pages 240-262.
    62. Durrani, Agha & Ongena, Steven & Ponte Marques, Aurea, 2024. "Decoding market reactions: The certification role of EU-wide stress tests," Economic Modelling, Elsevier, vol. 139(C).
    63. Kund, Arndt-Gerrit & Rugilo, Daniel, 2023. "Does IFRS 9 increase banks’ resilience?," Working Paper Series 2792, European Central Bank.
    64. Ivan Marinovic & Martin Szydlowski, 2019. "Monitor Reputation and Transparency," 2019 Meeting Papers 125, Society for Economic Dynamics.

  23. Anna Kovner & James Vickery & Lily Zhou, 2014. "Do Big Banks Have Lower Operating Costs?," Liberty Street Economics 201404325a, Federal Reserve Bank of New York.

    Cited by:

    1. Joseph P. Hughes & Julapa Jagtiani & Loretta J. Mester, 2016. "Is Bigger Necessarily Better in Community Banking?," Departmental Working Papers 201604, Rutgers University, Department of Economics.
    2. Hughes, Joseph P. & Jagtiani, Julapa & Mester, Loretta J. & Moon, Choon-Geol, 2019. "Does scale matter in community bank performance? Evidence obtained by applying several new measures of performance," Journal of Banking & Finance, Elsevier, vol. 106(C), pages 471-499.
    3. Kilian Huber, 2020. "Are bigger banks better? Firm-level evidence from Germany," CEP Discussion Papers dp1735, Centre for Economic Performance, LSE.
    4. Coeuré, B., 2015. "Completing the single market in capital," Financial Stability Review, Banque de France, issue 19, pages 15-24, April.
    5. Javed Ahmed & Christopher Anderson & Rebecca Zarutskie, 2015. "Are the Borrowing Costs of Large Financial Firms Unusual?," Working Papers 15-10, Office of Financial Research, US Department of the Treasury.
    6. Gregory McKee & Albert Kagan, 2019. "The differential impact of the Dodd–Frank Act on niche non-metro lenders," Journal of Banking Regulation, Palgrave Macmillan, vol. 20(4), pages 291-301, December.
    7. Beverly Hirtle & Anna Kovner & Matthew Plosser, 2020. "The Impact of Supervision on Bank Performance," Journal of Finance, American Finance Association, vol. 75(5), pages 2765-2808, October.
    8. Thomas M. Eisenbach & David O. Lucca & Robert M. Townsend, 2022. "Resource Allocation in Bank Supervision: Trade‐Offs and Outcomes," Journal of Finance, American Finance Association, vol. 77(3), pages 1685-1736, June.
    9. Thomas Philippon, 2017. "The FinTech Opportunity," BIS Working Papers 655, Bank for International Settlements.
    10. Q. Farooq Akram & Casper Christophersen, 2015. "Pricing in the Norwegian interbank market – the effects of liquidity and implicit government support," Working Paper 2016/2, Norges Bank.
    11. Nicola Pierri & Yannick Timmer, 2022. "The Importance of Technology in Banking during a Crisis," Finance and Economics Discussion Series 2022-020, Board of Governors of the Federal Reserve System (U.S.).
    12. Sapci, Ayse & Miles, Bradley, 2019. "Bank size, returns to scale, and cost efficiency," Journal of Economics and Business, Elsevier, vol. 105(C).
    13. Glass, Anthony J. & Kenjegaliev, Amangeldi & Kenjegalieva, Karligash, 2020. "Spatial scale and product mix economies in U.S. banking with simultaneous spillover regimes," European Journal of Operational Research, Elsevier, vol. 284(2), pages 693-711.
    14. Minton, Bernadette A. & Stulz, Rene M. & Toboada, Alvaro G., 2017. "Are Larger Banks Valued More Highly?," Working Paper Series 2017-08, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    15. Goodhart, Charles & Avgouleas, Emilios, 2014. "A Critical Evaluation of Bail-in as a Bank Recapitalisation Mechanism," CEPR Discussion Papers 10065, C.E.P.R. Discussion Papers.
    16. Ji Wu & Shirong Zhao, 2024. "Returns to scale in cost, revenue, and profit for European banks: New results from nonparametric local linear methods," The Financial Review, Eastern Finance Association, vol. 59(2), pages 487-517, May.
    17. Wang, Yang & Xiuping, Sui & Zhang, Qi, 2021. "Can fintech improve the efficiency of commercial banks? —An analysis based on big data," Research in International Business and Finance, Elsevier, vol. 55(C).
    18. W. Scott Frame & Ping McLemore & Atanas Mihov, 2020. "Haste Makes Waste: Banking Organization Growth and Operational Risk," Working Papers 2023, Federal Reserve Bank of Dallas.
    19. Schlam, Carina & Woyand, Corinna, 2023. "The rollout of internal credit risk models: Implications for the novel partial-use philosophy," Discussion Papers 07/2023, Deutsche Bundesbank.
    20. Ma, Chang & Nguyen, Xuan-Hai, 2021. "Too big to fail and optimal regulation," International Review of Economics & Finance, Elsevier, vol. 75(C), pages 747-758.
    21. Huber, Kilian Maria, 2020. "Are bigger banks better? Firm-level evidence from Germany," LSE Research Online Documents on Economics 121861, London School of Economics and Political Science, LSE Library.

  24. Meru Bhanot & Beverly Hirtle & Anna Kovner & James Vickery, 2014. "The CLASS Model: A Top-Down Assessment of the U.S. Banking System," Liberty Street Economics 20140604, Federal Reserve Bank of New York.

    Cited by:

    1. Kupiec, Paul H., 2020. "Policy uncertainty and bank stress testing," Journal of Financial Stability, Elsevier, vol. 51(C).

  25. Meru Bhanot & Beverly Hirtle & Anna Kovner & James Vickery, 2014. "Assessing financial stability: the Capital and Loss Assessment under Stress Scenarios (CLASS) model," Staff Reports 663, Federal Reserve Bank of New York.

    Cited by:

    1. Michael W. McCracken & Joseph McGillicuddy, 2017. "An Empirical Investigation of Direct and Iterated Multistep Conditional Forecasts," Working Papers 2017-40, Federal Reserve Bank of St. Louis.
    2. Brummelhuis, Raymond & Luo, Zhongmin, 2019. "Bank Net Interest Margin Forecasting and Capital Adequacy Stress Testing by Machine Learning Techniques," MPRA Paper 94779, University Library of Munich, Germany.
    3. Rahman, Md Lutfur & Troster, Victor & Uddin, Gazi Salah & Yahya, Muhammad, 2022. "Systemic risk contribution of banks and non-bank financial institutions across frequencies: The Australian experience," International Review of Financial Analysis, Elsevier, vol. 79(C).
    4. Armantier, Olivier & Ghysels, Eric & Sarkar, Asani & Shrader, Jeffrey, 2015. "Discount window stigma during the 2007–2008 financial crisis," Journal of Financial Economics, Elsevier, vol. 118(2), pages 317-335.
    5. David Aikman & Jonathan Bridges & Anil Kashyap & Caspar Siegert, 2019. "Would Macroprudential Regulation Have Prevented the Last Crisis?," Journal of Economic Perspectives, American Economic Association, vol. 33(1), pages 107-130, Winter.
    6. Laura Liu & Hyungsik Roger Moon & Frank Schorfheide, 2018. "Forecasting with Dynamic Panel Data Models," NBER Working Papers 25102, National Bureau of Economic Research, Inc.
    7. Theophilos Papadimitriou & Periklis Gogas & Anna Agrapetidou, 2022. "The resilience of the U.S. banking system," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 2819-2835, July.
    8. Nikolas Stege & Christoph Wegener & Tobias Basse & Frederik Kunze, 2021. "Mapping swap rate projections on bond yields considering cointegration: an example for the use of neural networks in stress testing exercises," Annals of Operations Research, Springer, vol. 297(1), pages 309-321, February.
    9. Jondeau, Eric & Khalilzadeh, Amir, 2022. "Predicting the stressed expected loss of large U.S. banks," Journal of Banking & Finance, Elsevier, vol. 134(C).
    10. Gerhard Hambusch & Sherrill Shaffer, 2016. "Forecasting bank leverage: an alternative to regulatory early warning models," Journal of Regulatory Economics, Springer, vol. 50(1), pages 38-69, August.
    11. Marco Gross & Javier Población, 2019. "Implications of Model Uncertainty for Bank Stress Testing," Journal of Financial Services Research, Springer;Western Finance Association, vol. 55(1), pages 31-58, February.
    12. Miora Rakotonirainy & Jean Razafindravonona & Christian Rasolomanana, 2020. "Macro Stress Testing Credit Risk: Case of Madagascar Banking Sector," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(2), pages 199-218.
    13. Galina Hale & John Krainer & Erin McCarthy, 2020. "Aggregation Level in Stress-Testing Models," International Journal of Central Banking, International Journal of Central Banking, vol. 16(4), pages 1-46, September.
    14. de Mendonça, Helder Ferreira & Silva, Rafael Bernardo da, 2018. "Effect of banking and macroeconomic variables on systemic risk: An application of ΔCOVAR for an emerging economy," The North American Journal of Economics and Finance, Elsevier, vol. 43(C), pages 141-157.
    15. Paul H. Kupiec, 2018. "On the accuracy of alternative approaches for calibrating bank stress test models," AEI Economics Working Papers 980152, American Enterprise Institute.
    16. Mohamad Rizan & Muhammad Zulkifli Salim & Saparuddin Mukhtar & Kevin Daly, 2022. "Macroeconomics of Systemic Risk: Transmission Channels and Technical Integration," Risks, MDPI, vol. 10(9), pages 1-27, September.
    17. Fang, Cao & Yeager, Timothy J., 2020. "A historical loss approach to community bank stress testing," Journal of Banking & Finance, Elsevier, vol. 118(C).
    18. William F. Bassett & Jose M. Berrospide, 2018. "The Impact of Post Stress Tests Capital on Bank Lending," Finance and Economics Discussion Series 2018-087, Board of Governors of the Federal Reserve System (U.S.).
    19. Luca Guerrieri & James Collin Harkrader, 2021. "What Drives Bank Peformance?," Finance and Economics Discussion Series 2021-009, Board of Governors of the Federal Reserve System (U.S.).
    20. Jiri Panos & Petr Polak, 2019. "How to Improve the Model Selection Procedure in a Stress-testing Framework," Working Papers 2019/9, Czech National Bank.
    21. Paul Glasserman & Mike Li, 2022. "Should Bank Stress Tests Be Fair?," Papers 2207.13319, arXiv.org, revised May 2023.
    22. Flannery, Mark & Hirtle, Beverly & Kovner, Anna, 2017. "Evaluating the information in the federal reserve stress tests," Journal of Financial Intermediation, Elsevier, vol. 29(C), pages 1-18.
    23. Gerlach, Jeffrey R. & Mora, Nada & Uysal, Pinar, 2018. "Bank funding costs in a rising interest rate environment," Journal of Banking & Finance, Elsevier, vol. 87(C), pages 164-186.
    24. Giuseppe Montesi & Giovanni Papiro, 2018. "Bank Stress Testing: A Stochastic Simulation Framework to Assess Banks’ Financial Fragility †," Risks, MDPI, vol. 6(3), pages 1-54, August.
    25. Silva, Walmir & Kimura, Herbert & Sobreiro, Vinicius Amorim, 2017. "An analysis of the literature on systemic financial risk: A survey," Journal of Financial Stability, Elsevier, vol. 28(C), pages 91-114.
    26. Pompella Maurizio & Dicanio Antonio, 2016. "Bank Vulnerability and Financial Soundness Testing: The Bank Resilience Index," Ekonomika (Economics), Sciendo, vol. 95(3), pages 52-63, December.
    27. Busch, Ramona & Koziol, Philipp & Mitrovic, Marc, 2018. "Many a little makes a mickle: Stress testing small and medium-sized German banks," The Quarterly Review of Economics and Finance, Elsevier, vol. 68(C), pages 237-253.

  26. Anna Kovner & David R. Skeie, 2013. "Evaluating the quality of fed funds lending estimates produced from Fedwire payments data," Staff Reports 629, Federal Reserve Bank of New York.

    Cited by:

    1. Luca Arciero & Ronald Heijmans & Richard Heuver & Marco Massarenti & Cristina Picillo & Francesco Vacirca, 2016. "How to Measure the Unsecured Money Market: The Eurosystem’s Implementation and Validation Using TARGET2 Data," International Journal of Central Banking, International Journal of Central Banking, vol. 12(1), pages 247-280, March.
    2. Puriya Abbassi & Falk Brauning & Falko Fecht & José-Luis Peydró, 2017. "International Financial Integration, Crises and Monetary Policy: Cross-Border Interbank Lending During the Euro Crises," Working Papers 965, Barcelona School of Economics.
    3. Thomas B. King & Kurt F. Lewis, 2015. "Credit Risk, Liquidity and Lies," Finance and Economics Discussion Series 2015-112, Board of Governors of the Federal Reserve System (U.S.).
    4. Q. Farooq Akram & Casper Christophersen, 2015. "Pricing in the Norwegian interbank market – the effects of liquidity and implicit government support," Working Paper 2016/2, Norges Bank.
    5. Fecht, Falko & Peydró, José-Luis & Abbassi, Puriya & Bräuning, Falk, 2015. "Cross-Border Liquidity, Relationships and Monetary Policy: Evidence from the Euro Area Interbank Crisis," CEPR Discussion Papers 10479, C.E.P.R. Discussion Papers.
    6. Abbassi, Puriya & Bräuning, Falk & Fecht, Falko & Peydró, José-Luis, 2022. "Cross-border interbank liquidity, crises, and monetary policy," Journal of International Economics, Elsevier, vol. 139(C).
    7. Denbee, Edward & Julliard, Christian & Li, Ye & Yuan, Kathy, 2021. "Network risk and key players: A structural analysis of interbank liquidity," Journal of Financial Economics, Elsevier, vol. 141(3), pages 831-859.
    8. Abbassi, Puriya & Bräuning, Falk & Fecht, Falko & Peydró, José-Luis, 2018. "International financial integration, crises and monetary policy: evidence from the Euro area interbank crises," EconStor Preprints 216786, ZBW - Leibniz Information Centre for Economics.
    9. S. Gabrieli & C.-P. Georg, 2014. "A network view on interbank market freezes," Working papers 531, Banque de France.

  27. Acharya, Viral & Kovner, Anna & Afonso, Gara, 2013. "How do Global Banks Scramble for Liquidity? Evidence from the Asset-Backed Commercial Paper Freeze of 2007," CEPR Discussion Papers 9457, C.E.P.R. Discussion Papers.

    Cited by:

    1. Javier Bianchi & Saki Bigio & Charles Engel, 2021. "Scrambling for Dollars: International Liquidity, Banks and Exchange Rates," Working Papers 786, Federal Reserve Bank of Minneapolis.
    2. Mark M. Spiegel, 2021. "Monetary Policy Spillovers Under Covid-19: Evidence from U.S. Foreign Bank Subsidiaries," Working Paper Series 2021-14, Federal Reserve Bank of San Francisco.
    3. Falk Brauning & Victoria Ivashina, 2017. "Monetary Policy and Global Banking," NBER Working Papers 23316, National Bureau of Economic Research, Inc.
    4. Ongena, S. & Peydro, J.L. & van Horen, N., 2013. "Shocks Abroad, Pain at Home? Bank-firm Level Evidence on the International Transmission of Financial Shocks," Other publications TiSEM 74a6ead6-0e8d-4843-91c0-0, Tilburg University, School of Economics and Management.
    5. Viral V. Acharya & Björn Imbierowicz & Sascha Steffen & Daniel Teichmann, 2019. "Does the Lack of Financial Stability Impair the Transmission of Monetary Policy?," NBER Working Papers 26479, National Bureau of Economic Research, Inc.
    6. Steven Ongena & Ibolya Schindele & Dzsamila Vonnák, 2017. "In Lands of Foreign Currency Credit, Bank Lending Channels Run Through?," MNB Working Papers 2017/6, Magyar Nemzeti Bank (Central Bank of Hungary).
    7. Carlos Arteta & Mark S. Carey & Ricardo Correa & Jason Kotter, 2013. "Revenge of the steamroller: ABCP as a window on risk choices," International Finance Discussion Papers 1076, Board of Governors of the Federal Reserve System (U.S.).
    8. Fernando Eguren‐Martin & Matias Ossandon Busch & Dennis Reinhardt, 2024. "Global Banks and Synthetic Funding: The Benefits of Foreign Relatives," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(1), pages 115-152, February.
    9. Halit Gonenc & Bert Scholtens, 2019. "Responsibility and Performance Relationship in the Banking Industry," Sustainability, MDPI, vol. 11(12), pages 1-49, June.
    10. Bang Nam Jeon & Ji Wu, 2014. "The Role of Foreign Banks in Monetary Policy Transmission: Evidence from Asia during the Crisis of 2008-9," Working Papers 012014, Hong Kong Institute for Monetary Research.
    11. Rustom M. Irani & Ralf R. Meisenzahl, 2015. "Loan Sales and Bank Liquidity Risk Management: Evidence from a U.S. Credit Register," Finance and Economics Discussion Series 2015-1, Board of Governors of the Federal Reserve System (U.S.).
    12. Aldasoro, Inaki & Balke, Florian & Barth, Andreas & Eren, Egemen, 2019. "Spillovers of funding dry-ups," SAFE Working Paper Series 259, Leibniz Institute for Financial Research SAFE.
    13. Sung C. Bae & Hyeon Sook Kim & Taek Ho Kwon, 2020. "Foreign currency borrowing surrounding the global financial crisis: Evidence from Korea," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 47(5-6), pages 786-817, May.
    14. van der Plaat, Mark T., 2021. "How to Measure Securitization: A Structural Equation Approach," MPRA Paper 109735, University Library of Munich, Germany.
    15. Christoph Aymanns & Co-Pierre Georg & Benjamin Golub, 2017. "Illiquidity spirals in Coupled Over-The-Counter Markets," Working Papers on Finance 1810, University of St. Gallen, School of Finance.
    16. Steven Ongena & Günseli Tümer–Alkan & Natalja von Westernhagen, 2018. "Do Exposures to Sagging Real Estate, Subprime, or Conduits Abroad Lead to Contraction and Flight to Quality in Bank Lending at Home?," Review of Finance, European Finance Association, vol. 22(4), pages 1335-1373.
    17. Sumit Agarwal & Brent W. Ambrose & Yildiray Yildirim & Jian Zhang, 2024. "Risk Retention Rules and the Issuance of Commercial Mortgage Backed Securities," The Journal of Real Estate Finance and Economics, Springer, vol. 68(4), pages 684-714, May.
    18. Surbhi Gupta & Anjali Naithani & Varsha Gautam, 2022. "The impact of the recession on the liquidity and activity ratios of top power transmission company: case of power grid corporation of India Ltd," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 13(3), pages 1523-1530, June.
    19. Claudia M. Buch & Linda S. Goldberg, 2014. "International banking and liquidity risk transmission: lessons from across countries," Staff Reports 675, Federal Reserve Bank of New York.
    20. Pavel Chakraborty, 2019. "Bank Ownership and Margins of Trade," Working Papers 282850537, Lancaster University Management School, Economics Department.
    21. Michal Kowalik, 2014. "To sell or to borrow: a theory of bank liquidity management," Research Working Paper RWP 14-18, Federal Reserve Bank of Kansas City.
    22. Ioannis Chatziantoniou & David Gabauer & Alexis Stenfors, 2019. "From CIP-Deviations to a Market for Risk Premia: A Dynamic Investigation of Cross-Currency Basis Swaps," Working Papers in Economics & Finance 2019-05, University of Portsmouth, Portsmouth Business School, Economics and Finance Subject Group.
    23. Spiegel, Mark M., 2022. "Monetary policy spillovers under COVID-19: Evidence from lending by U.S. foreign bank subsidiaries," Journal of International Money and Finance, Elsevier, vol. 122(C).
    24. Balke, Florian & Aldasoro, Inaki & Barth, Andreas & Eren, Egemen, 2019. "Bank Competition for Wholesale Funding: Evidence from Corporate Deposits," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203578, Verein für Socialpolitik / German Economic Association.

  28. Gara M. dup Afonso & Anna Kovner & Antoinette Schoar, 2013. "Trading Partners in the Interbank Lending Market," Staff Reports 620, Federal Reserve Bank of New York.

    Cited by:

    1. León, Carlos & Machado, Clara & Sarmiento, Miguel, 2018. "Identifying central bank liquidity super-spreaders in interbank funds networks," Journal of Financial Stability, Elsevier, vol. 35(C), pages 75-92.
    2. Dan Li & Norman Schürhoff, 2019. "Dealer Networks," Journal of Finance, American Finance Association, vol. 74(1), pages 91-144, February.
    3. Semih Üslü, 2019. "Pricing and Liquidity in Decentralized Asset Markets," Econometrica, Econometric Society, vol. 87(6), pages 2079-2140, November.
    4. Fernando Linardi & Cees Diks & Marco van der Leij & Iuri Lazier, 2018. "Dynamic Interbank Network Analysis Using Latent Space Models," Working Papers Series 487, Central Bank of Brazil, Research Department.
    5. Falk Bräuning & Falko Fecht, 2016. "Relationship lending in the interbank market and the price of liquidity," Working Papers 16-7, Federal Reserve Bank of Boston.
    6. Bátiz-Zuk Enrique & Lara Sánchez José Luis, 2021. "Revisiting the link between systemic risk and competition based on network theory and interbank exposures," Working Papers 2021-26, Banco de México.
    7. Marzena Rostek & Ji Hee Yoon, 2013. "Private Information in Markets: A Market Design Perspective," Working Papers 13-21, NET Institute.
    8. Batchimeg Sambalaibat, 2018. "Endogenous Specialization and Dealer Networks," 2018 Meeting Papers 1278, Society for Economic Dynamics.
    9. Anqi Liu & Mark Paddrik & Steve Yang & Xingjia Zhang, 2016. "Interbank Contagion: An Agent-based Model Approach to Endogenously Formed Networks," Working Papers 16-14, Office of Financial Research, US Department of the Treasury.
    10. Hau, Harald & Hoffmann, Peter & Langfield, Sam & Timmer, Yannick, 2017. "Discriminatory pricing of over-the-counter derivatives," ESRB Working Paper Series 61, European Systemic Risk Board.
    11. Carlos León & Miguel Sarmiento, 2016. "Liquidity and Counterparty Risks Tradeoff in Money Market Networks," Borradores de Economia 936, Banco de la Republica de Colombia.
    12. Fecht, Falko & Peydró, José-Luis & Abbassi, Puriya & Bräuning, Falk, 2015. "Cross-Border Liquidity, Relationships and Monetary Policy: Evidence from the Euro Area Interbank Crisis," CEPR Discussion Papers 10479, C.E.P.R. Discussion Papers.
    13. Marco Di Maggio & Amir Kermani & Zhaogang Song, 2016. "The Value of Trading Relationships in Turbulent Times," NBER Working Papers 22332, National Bureau of Economic Research, Inc.
    14. Rünstler, Gerhard, 2016. "Network Dependence in the Euro Area Money Market," Working Paper Series 1887, European Central Bank.
    15. Bluhm, Marcel, 2018. "Persistent liquidity shocks and interbank funding," Journal of Financial Stability, Elsevier, vol. 36(C), pages 246-262.
    16. Freddy Cepeda-López & Fredy Gamboa-Estrada & Carlos León & Hernán Rincón-Castro, 2019. "The evolution of world trade from 1995 to 2014: A network approach," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 28(4), pages 452-485, May.
    17. Mr. Itai Agur, 2014. "Bank Risk Within and Across Equilibria," IMF Working Papers 2014/116, International Monetary Fund.
    18. Morteza Alaeddini & Philippe Madiès & Paul J. Reaidy & Julie Dugdale, 2023. "Interbank money market concerns and actors’ strategies—A systematic review of 21st century literature," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 573-654, April.
    19. Saroyan, Susanna, 2024. "Counterparty choice, maturity shifts and market freezes: Lessons from the European interbank market," Journal of Economic Dynamics and Control, Elsevier, vol. 160(C).
    20. Fecht, Falko & Reitz, Stefan & Weber, Patrick, 2015. "On the role of market makers for money market liquidity and tensions," Kiel Working Papers 2013, Kiel Institute for the World Economy (IfW Kiel).
    21. Briana Chang & Shengxing Zhang, 2015. "Endogenous Market Making and Network Formation," Discussion Papers 1534, Centre for Macroeconomics (CFM).
    22. Francisco Blasques & Falk Bräuning & Iman Van Lelyveld, 2016. "A dynamic network model of the unsecured interbank lending market," Working Papers 16-3, Federal Reserve Bank of Boston.
    23. Zhang, Shengxing, 2018. "Liquidity misallocation in an over-the-counter market," Journal of Economic Theory, Elsevier, vol. 174(C), pages 16-56.
    24. León, Carlos & Miguélez, Javier, 2021. "Interbank relationship lending revisited: Are the funds available at a similar price?," Research in International Business and Finance, Elsevier, vol. 58(C).
    25. Craig, Ben & Ma, Yiming, 2022. "Intermediation in the interbank lending market," Journal of Financial Economics, Elsevier, vol. 145(2), pages 179-207.
    26. Carlos León & Jorge Cely & Carlos Cadena, 2015. "Identifying Interbank Loans, Rates, and Claims Networks from Transactional Data," Borradores de Economia 881, Banco de la Republica de Colombia.
    27. Babus, Ana & Hu, Tai-Wei, 2017. "Endogenous intermediation in over-the-counter markets," Journal of Financial Economics, Elsevier, vol. 125(1), pages 200-215.
    28. Martínez, Constanza & Cizek, Pavel & León, C., 2018. "Ownership Networks Effects on Secured Borrowing," Discussion Paper 2018-015, Tilburg University, Center for Economic Research.
    29. Puriya Abbassi & Falk Bräuning & Niels Schulze, 2021. "Bargaining power and outside options in the interbank lending market," Financial Management, Financial Management Association International, vol. 50(2), pages 553-586, June.
    30. Bátiz-Zuk, Enrique & Lara-Sánchez, José Luis, 2023. "The impact of bank competition on contagion risk: The case of Mexico," Journal of Economics and Business, Elsevier, vol. 127(C).
    31. HORIKAWA Takumi & MATSUI Yujiro & GEMMA Yasufumi, 2021. "A Network Analysis of the JGB Repo Market," Bank of Japan Working Paper Series 21-E-14, Bank of Japan.
    32. Andrea Barbon & Marco Di Maggio & Francesco A. Franzoni & Augustin Landier, 2017. "Brokers and Order Flow Leakage: Evidence from Fire Sales," Swiss Finance Institute Research Paper Series 17-61, Swiss Finance Institute, revised Jun 2018.
    33. Aleksander Berentsen & Alessandro Marchesiani & Christopher Waller, 2014. "Floor Systems for Implementing Monetary Policy: Some Unpleasant Fiscal Arithmetic," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 17(3), pages 523-542, July.
    34. Chang, Briana & Zhang, Shengxing, 2015. "Endogenous market making and network formation," LSE Research Online Documents on Economics 119005, London School of Economics and Political Science, LSE Library.
    35. Chang, Briana & Zhang, Shengxing, 2015. "Endogenous market making and network formation," LSE Research Online Documents on Economics 65105, London School of Economics and Political Science, LSE Library.
    36. Vollmer, Uwe & Wiese, Harald, 2016. "Central bank standing facilities, counterparty risk, and OTC-interbank lending," The North American Journal of Economics and Finance, Elsevier, vol. 36(C), pages 101-122.
    37. S. Gabrieli & C.-P. Georg, 2014. "A network view on interbank market freezes," Working papers 531, Banque de France.
    38. Yuanying Guan & Micah Pollak, 2016. "Contagion In Heterogeneous Financial Networks," Advances in Complex Systems (ACS), World Scientific Publishing Co. Pte. Ltd., vol. 19(01n02), pages 1-25, February.
    39. Semyon Malamud & Marzena Rostek, 2017. "Decentralized Exchange," American Economic Review, American Economic Association, vol. 107(11), pages 3320-3362, November.
    40. Bluhm, Marcel & Georg, Co-Pierre & Krahnen, Jan-Pieter, 2016. "Interbank intermediation," Discussion Papers 16/2016, Deutsche Bundesbank.
    41. León, Carlos & Miguélez, Javier, 2021. "Interbank relationship lending: A network perspective," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 573(C).
    42. Song Han & Kleopatra Nikolaou, 2016. "Trading Relationships in the OTC Market for Secured Claims : Evidence from Triparty Repos," Finance and Economics Discussion Series 2016-064, Board of Governors of the Federal Reserve System (U.S.).
    43. Terrence Hendershott & Dan Li & Dmitry Livdan & Norman Schürhoff, 2020. "Relationship Trading in Over‐the‐Counter Markets," Journal of Finance, American Finance Association, vol. 75(2), pages 683-734, April.
    44. Téllez-León, Isela-Elizabeth & Martínez-Jaramillo, Serafín & O. L. Escobar-Farfán, Luis & Hochreiter, Ronald, 2021. "How are network centrality metrics related to interest rates in the Mexican secured and unsecured interbank markets?," Journal of Financial Stability, Elsevier, vol. 55(C).
    45. León, C., 2015. "Financial stability from a network perspective," Other publications TiSEM bb2e4e44-e842-45c6-a946-4, Tilburg University, School of Economics and Management.

  29. Anna Kovner, 2012. "Doing Well by Doing Good? Community Development Venture Capital," Liberty Street Economics 20121121, Federal Reserve Bank of New York.

    Cited by:

    1. Richard T Harrison & Babangida Yohanna & Yannis Pierrakis, 2020. "Internationalisation and localisation: Foreign venture capital investments in the United Kingdom," Local Economy, London South Bank University, vol. 35(3), pages 230-256, May.
    2. Yan Alperovych & Anita Quas & Thomas Standaert, 2018. "Direct And Indirect Government Venture Capital Investments In Europe," Economics Bulletin, AccessEcon, vol. 38(2), pages 1219-1230.
    3. Massimo G. Colombo & Samuele Murtinu, 2017. "Venture Capital Investments in Europe and Portfolio Firms' Economic Performance: Independent Versus Corporate Investors," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 26(1), pages 35-66, February.
    4. Brad M. Barber & Adair Morse & Ayako Yasuda, 2019. "Impact Investing," NBER Working Papers 26582, National Bureau of Economic Research, Inc.
    5. Jeaneth Johansson & Malin Malmström & Joakim Wincent, 2021. "Sustainable Investments in Responsible SMEs: That’s What’s Distinguish Government VCs from Private VCs," JRFM, MDPI, vol. 14(1), pages 1-22, January.
    6. Lindsey, Kevin & Mauck, Nathan & Olsen, Ben, 2021. "The coming wave of small business succession and the role of stakeholder synergy theory," Global Finance Journal, Elsevier, vol. 48(C).
    7. Fabio Bertoni & Massimo G. Colombo & Anita Quas, 2019. "The Role of Governmental Venture Capital in the Venture Capital Ecosystem: An Organizational Ecology Perspective," Entrepreneurship Theory and Practice, , vol. 43(3), pages 611-628, May.
    8. Yan Alperovych & Alexander Groh & Anita Quas, 2020. "Bridging the equity gap for young innovative companies : The design of effective government venture capital fund programs," Post-Print hal-02927529, HAL.
    9. Wang, Chih-Wei & Wu, Yu-Ching & Hsieh, Hsin-Yi & Huang, Po-Hsiang & Lin, Meng-Chieh, 2022. "Does green bond issuance have an impact on climate risk concerns?," Energy Economics, Elsevier, vol. 111(C).
    10. Geczy, Christopher & Jeffers, Jessica S. & Musto, David K. & Tucker, Anne M., 2021. "Contracts with (Social) benefits: The implementation of impact investing," Journal of Financial Economics, Elsevier, vol. 142(2), pages 697-718.
    11. Cole,Shawn Allen & Melecky,Martin & Molders,Florian & Reed,Tristan, 2020. "Long-run Returns to Impact Investing in Emerging Market and Developing Economies," Policy Research Working Paper Series 9366, The World Bank.
    12. Tereza Tykvová, 2018. "Venture capital and private equity financing: an overview of recent literature and an agenda for future research," Journal of Business Economics, Springer, vol. 88(3), pages 325-362, May.

  30. Gara Afonso & Anna Kovner & Antoinette Schoar, 2010. "Stressed not Frozen: The Fed Funds Market in the Financial Crisis," NBER Working Papers 15806, National Bureau of Economic Research, Inc.

    Cited by:

    1. Gara Afonso & Ricardo Lagos, 2015. "Trade Dynamics in the Market for Federal Funds," Econometrica, Econometric Society, vol. 83, pages 263-313, January.
    2. Affinito, Massimiliano, 2012. "Do interbank customer relationships exist? And how did they function in the crisis? Learning from Italy," Journal of Banking & Finance, Elsevier, vol. 36(12), pages 3163-3184.
    3. Acharya, Viral V. & Skeie, David, 2011. "A model of liquidity hoarding and term premia in inter-bank markets," Journal of Monetary Economics, Elsevier, vol. 58(5), pages 436-447.
    4. Elizabeth Klee, 2021. "The First Line of Defense: The Discount Window during the Early Stages of the Financial Crisis," International Journal of Central Banking, International Journal of Central Banking, vol. 17(1), pages 143-190, March.
    5. Ritz, R. A., 2012. "How do banks respond to increased funding uncertainty?," Cambridge Working Papers in Economics 1213, Faculty of Economics, University of Cambridge.
    6. De Haan, Jakob & Poghosyan, Tigran, 2012. "Bank size, market concentration, and bank earnings volatility in the US," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 22(1), pages 35-54.
    7. Viral Acharya & Ouarda Merrouche, 2013. "Precautionary Hoarding of Liquidity and the Interbank Markets: Evidence from the Sub-Prime Crisis," Post-Print hal-01638078, HAL.
    8. Viral V. Acharya & Nada Mora, 2011. "Are banks passive liquidity backstops? deposit rates and flows during the 2007-2009 crisis," Research Working Paper RWP 11-06, Federal Reserve Bank of Kansas City.
    9. Bent Jesper Christensen & Morten Ørregaard Nielsen & Jie Zhu, 2012. "The impact of financial crises on the risk-return tradeoff and the leverage effect," CREATES Research Papers 2012-19, Department of Economics and Business Economics, Aarhus University.
    10. Olivier Armantier & Adam Copeland, 2012. "Assessing the quality of “Furfine-based” algorithms," Staff Reports 575, Federal Reserve Bank of New York.
    11. Douglas Gale & Tanju Yorulmazer, 2011. "Liquidity hoarding," Staff Reports 488, Federal Reserve Bank of New York.
    12. Gary Gorton & Andrew Metrick, 2009. "Securitized Banking and the Run on Repo," Yale School of Management Working Papers amz2358, Yale School of Management, revised 01 Sep 2009.
    13. Sébastien P. Kraenzlin & Benedikt von Scarpatetti, 2011. "Bargaining Power in the Repo Market," Working Papers 2011-14, Swiss National Bank.
    14. Paolo Angelini & Andrea Nobili & Cristina Picillo, 2011. "The Interbank Market after August 2007: What Has Changed, and Why?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(5), pages 923-958, August.
    15. Massimiliano Affinito, 2013. "Central bank refinancing, interbank markets, and the hypothesis of liquidity hoarding: evidence from a euro-area banking system," Temi di discussione (Economic working papers) 928, Bank of Italy, Economic Research and International Relations Area.
    16. Miss Liliana B Schumacher & Mr. Theodore M. Barnhill, 2011. "Modeling Correlated Systemic Liquidity and Solvency Risks in a Financial Environment with Incomplete Information," IMF Working Papers 2011/263, International Monetary Fund.
    17. Jason Allen & Ali Hortaçsu & Jakub Kastl, 2011. "Analyzing Default Risk and Liquidity Demand during a Financial Crisis: The Case of Canada," Staff Working Papers 11-17, Bank of Canada.
    18. Gara M. dup Afonso & Ricardo Lagos, 2012. "An empirical study of trade dynamics in the interbank market," Staff Reports 550, Federal Reserve Bank of New York.
    19. Mr. Kalin I Tintchev, 2013. "Connected to Whom? International Interbank Borrowing During the Global Crisis," IMF Working Papers 2013/014, International Monetary Fund.

  31. Gara M. dup Afonso & Anna Kovner & Antoinette Schoar, 2010. "Stressed, not frozen: the Federal Funds market in the financial crisis," Staff Reports 437, Federal Reserve Bank of New York.

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    1. Michaelides, Alexander & Kokas, Sotirios & Gupta, Abhimanyu, 2017. "Credit Market Spillovers: Evidence from a Syndicated Loan Market Network," CEPR Discussion Papers 12424, C.E.P.R. Discussion Papers.
    2. Boissel, Charles & Derrien, François & Örs, Evren & Thesmar, David, 2016. "Systemic risk in clearing houses: Evidence from the European repo market," ESRB Working Paper Series 10, European Systemic Risk Board.
    3. Massimiliano Affinito, 2019. "What do almost 20 years of micro data and two crises say about the relationship between central bank and interbank market liquidity? Evidence from Italy," BIS Working Papers 821, Bank for International Settlements.
    4. Antonio Alvarez & Alejandro Fernandez & Joaquin Garcia-Cabo & Diana Posada, 2019. "Liquidity Funding Shocks : The Role of Banks' Funding Mix," International Finance Discussion Papers 1245, Board of Governors of the Federal Reserve System (U.S.).
    5. Gara Afonso & Ricardo Lagos, 2015. "Trade Dynamics in the Market for Federal Funds," Econometrica, Econometric Society, vol. 83, pages 263-313, January.
    6. León, Carlos & Machado, Clara & Sarmiento, Miguel, 2018. "Identifying central bank liquidity super-spreaders in interbank funds networks," Journal of Financial Stability, Elsevier, vol. 35(C), pages 75-92.
    7. Merrouche, Ouarda & Karam, Philippe & Turk, Rima & Souissi, Moez, 2014. "The Transmission of Liquidity Shocks: Evidence from Credit Rating Downgrades," CEPR Discussion Papers 10252, C.E.P.R. Discussion Papers.
    8. Elena Carletti & Filippo De Marco & Vasso Ioannidou & Enrico Sette, 2019. "Banks as Patient Lenders: Evidence from a Tax Reform," BAFFI CAREFIN Working Papers 19110, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    9. Affinito, Massimiliano, 2012. "Do interbank customer relationships exist? And how did they function in the crisis? Learning from Italy," Journal of Banking & Finance, Elsevier, vol. 36(12), pages 3163-3184.
    10. Harry R. Cooperman & Darrell Duffie & Stephan Luck & Zachry Z. Wang & Yilin Yang, 2023. "Bank Funding Risk, Reference Rates, and Credit Supply," NBER Working Papers 30907, National Bureau of Economic Research, Inc.
    11. Kaldorf, Matthias & Wicknig, Florian, 2021. "Risky Financial Collateral, Firm Heterogeneity, and the Impact of Eligibility Requirements," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242413, Verein für Socialpolitik / German Economic Association.
    12. Jon H. Findreng, 2021. "Peer Monitoring vs. Search Costs in the Interbank Market: Evidence from Payment Flow Data in Norway," Working Paper 2021/2, Norges Bank.
    13. Raddant, Matthias, 2012. "Structure in the Italian overnight loan market," Kiel Working Papers 1772, Kiel Institute for the World Economy (IfW Kiel).
    14. Edoardo Rainone, 2015. "Price transmission in the unsecured money market," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Indicators to support monetary and financial stability analysis: data sources and statistical methodologies, volume 39, Bank for International Settlements.
    15. Hałaj, Grzegorz, 2018. "System-wide implications of funding risk," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 503(C), pages 1151-1181.
    16. Behr, Patrick & Wang, Weichao, 2020. "The (un)intended effects of government bailouts: The impact of TARP on the interbank market and bank risk-taking," Journal of Banking & Finance, Elsevier, vol. 116(C).
    17. Thomas Gries & Alexandra Mitschke, 2021. "Systemic Instability of the Interbank Credit Market - A Contribution to a Resilient Financial System," Working Papers Dissertations 75, Paderborn University, Faculty of Business Administration and Economics.
    18. Sébastien P. Kraenzlin & Thomas Nellen, 2012. "Access policy and money market segmentation," Working Papers 2012-12, Swiss National Bank.
    19. Georgescu, Oana-Maria, 2015. "Contagion in the interbank market: Funding versus regulatory constraints," Journal of Financial Stability, Elsevier, vol. 18(C), pages 1-18.
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    21. Chen Zheng & Adrian (Wai Kong) Cheung & Tom Cronje, 2022. "The Impact of TARP Capital Infusion on Bank Liquidity Creation: Does Bank Size Matter?," International Journal of Central Banking, International Journal of Central Banking, vol. 18(2), pages 283-347, June.
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    25. Acharya, Viral V. & Skeie, David, 2011. "A model of liquidity hoarding and term premia in inter-bank markets," Journal of Monetary Economics, Elsevier, vol. 58(5), pages 436-447.
    26. Fernando Linardi & Cees Diks & Marco van der Leij & Iuri Lazier, 2018. "Dynamic Interbank Network Analysis Using Latent Space Models," Working Papers Series 487, Central Bank of Brazil, Research Department.
    27. Puriya Abbassi & Falk Brauning & Falko Fecht & José-Luis Peydró, 2017. "International Financial Integration, Crises and Monetary Policy: Cross-Border Interbank Lending During the Euro Crises," Working Papers 965, Barcelona School of Economics.
    28. Viral V. Acharya & Gara M. dup Afonso & Anna Kovner, 2013. "How do global banks scramble for liquidity? Evidence from the asset-backed commercial paper freeze of 2007," Staff Reports 623, Federal Reserve Bank of New York.
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    30. Rainone, Edoardo, 2020. "The network nature of over-the-counter interest rates," Journal of Financial Markets, Elsevier, vol. 47(C).
    31. Elizabeth Klee, 2021. "The First Line of Defense: The Discount Window during the Early Stages of the Financial Crisis," International Journal of Central Banking, International Journal of Central Banking, vol. 17(1), pages 143-190, March.
    32. Fecht, Falko & Reitz, Stefan, 2015. "Euro money market trading during times of crisis," Kiel Working Papers 2012, Kiel Institute for the World Economy (IfW Kiel).
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    34. Garcia-de-Andoain, Carlos & Heider, Florian & Hoerova, Marie & Manganelli, Simone, 2016. "Lending-of-last-resort is as lending-of-last-resort does: Central bank liquidity provision and interbank market functioning in the euro area," Journal of Financial Intermediation, Elsevier, vol. 28(C), pages 32-47.
    35. Helwege, Jean & Boyson, Nicole M. & Jindra, Jan, 2017. "Reprint of: Thawing frozen capital markets and backdoor bailouts: Evidence from the Fed's liquidity programs," Journal of Banking & Finance, Elsevier, vol. 83(C), pages 193-220.
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    44. Breckenfelder, Johannes & Hoerova, Marie, 2023. "Do non-banks need access to the lender of last resort? Evidence from fund runs," Working Paper Series 2805, European Central Bank.
    45. Cornelia Kerl & Friederike Niepmann, 2016. "What Determines the Composition of International Bank Flows?," International Finance Discussion Papers 1170, Board of Governors of the Federal Reserve System (U.S.).
    46. Pierret, D., 2014. "Systemic risk and the solvency-liquidity nexus of banks," LIDAM Discussion Papers ISBA 2014056, Université catholique de Louvain, Institute of Statistics, Biostatistics and Actuarial Sciences (ISBA).
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    50. Heider, Florian & Garcia-de-Andoain, Carlos & Frutos de Andres, Juan Carlos & Papsdorf, Patrick, 2016. "Stressed interbank markets: evidence from the European financial and sovereign debt crisis," Working Paper Series 1925, European Central Bank.
    51. Anqi Liu & Mark Paddrik & Steve Yang & Xingjia Zhang, 2016. "Interbank Contagion: An Agent-based Model Approach to Endogenously Formed Networks," Working Papers 16-14, Office of Financial Research, US Department of the Treasury.
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    54. Bech, Morten L. & Bergstrom, Carl T. & Rosvall, Martin & Garratt, Rodney J., 2015. "Mapping change in the overnight money market," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 424(C), pages 44-51.
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    249. Gara M. dup Afonso & Ricardo Lagos, 2012. "An empirical study of trade dynamics in the interbank market," Staff Reports 550, Federal Reserve Bank of New York.
    250. Chen, Zhongdong & Craig, Karen Ann & Karpovics, Mikhael, 2020. "Once bitten twice shy? Evidence from the U.S. banking industry during the crash of the energy market," Energy Economics, Elsevier, vol. 92(C).
    251. Gara M. dup Afonso & Ricardo Lagos, 2014. "An Empirical Study of Trade Dynamics in the Fed Funds Market," Working Papers 708, Federal Reserve Bank of Minneapolis.
    252. Christoph Aymanns & Carlos Caceres & Christina Daniel & Miss Liliana B Schumacher, 2016. "Bank Solvency and Funding Cost," IMF Working Papers 2016/064, International Monetary Fund.
    253. Xuewen Liu, 2023. "A Model of Systemic Bank Runs," Journal of Finance, American Finance Association, vol. 78(2), pages 731-793, April.
    254. Bednarek, Peter & Dinger, Valeriya & te Kaat, Daniel Marcel & von Westernhagen, Natalja, 2020. "Central bank funding and credit risk-taking," Discussion Papers 36/2020, Deutsche Bundesbank.
    255. Eero Tölö & Esa Jokivuolle & Matti Viren, 2021. "Have Too-Big-to-Fail Expectations Diminished? Evidence from the European Overnight Interbank Market," Journal of Financial Services Research, Springer;Western Finance Association, vol. 60(1), pages 25-54, August.
    256. Tupper, Christina H. & Guldiken, Orhun & Benischke, Mirko, 2018. "Capital market liability of foreignness of IPO firms," Journal of World Business, Elsevier, vol. 53(4), pages 555-567.
    257. Mr. Dimitri G Demekas, 2015. "Designing Effective Macroprudential Stress Tests: Progress So Far and the Way Forward," IMF Working Papers 2015/146, International Monetary Fund.
    258. Mr. Kalin I Tintchev, 2013. "Connected to Whom? International Interbank Borrowing During the Global Crisis," IMF Working Papers 2013/014, International Monetary Fund.
    259. Peter Debbaut & Huberto M. Ennis, 2014. "Large U.S. Bank Holding Companies During the 2007-09 Financial Crisis: An Overview of the Data," Economic Quarterly, Federal Reserve Bank of Richmond, issue 2Q, pages 113-157.
    260. Olivier Armantier & Adam Copeland, 2015. "Challenges in identifying interbank loans," Economic Policy Review, Federal Reserve Bank of New York, issue 21-1, pages 1-17.
    261. Dewally, Michaël & Shao, Yingying, 2013. "Leverage, wholesale funding and national risk attitude," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 23(C), pages 179-195.
    262. Valeriya Dinger & Jürgen von Hagen, 2011. "The Competitive Advantage of Incumbents: Evidence from Newly Liberalized Banking Industries," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 167(4), pages 578-607, December.
    263. Bech, Morten & Monnet, Cyril, 2016. "A search-based model of the interbank money market and monetary policy implementation," Journal of Economic Theory, Elsevier, vol. 164(C), pages 32-67.
    264. Basu, Shubhabrata & Aulakh, Preet S. & Munjal, Surender, 2021. "Pluralistic ignorance, risk perception, and the governance of the dark side in peer-to-peer transactions: Evidence from the Indian banking industry," Journal of Business Research, Elsevier, vol. 129(C), pages 328-340.
    265. Lucey, Brian M. & Vigne, Samuel A. & Ballester, Laura & Barbopoulos, Leonidas & Brzeszczynski, Janusz & Carchano, Oscar & Dimic, Nebojsa & Fernandez, Viviana & Gogolin, Fabian & González-Urteaga, Ana , 2018. "Future directions in international financial integration research - A crowdsourced perspective," International Review of Financial Analysis, Elsevier, vol. 55(C), pages 35-49.
    266. Abankwa, Samuel & Blenman, Lloyd P., 2021. "Measuring liquidity risk effects on carry trades across currencies and regimes," Journal of Multinational Financial Management, Elsevier, vol. 60(C).
    267. Li, Boyao, 2017. "The impact of the Basel III liquidity coverage ratio on macroeconomic stability: An agent-based approach," Economics Discussion Papers 2017-2, Kiel Institute for the World Economy (IfW Kiel).
    268. Pala, Melissa, 2024. "COVID-19 and the fragmentation of the European interbank market," Discussion Papers 07/2024, Deutsche Bundesbank.
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  32. Henry Chen & Paul Gompers & Anna Kovner & Josh Lerner, 2009. "Buy Local? The Geography of Successful and Unsuccessful Venture Capital Expansion," NBER Working Papers 15102, National Bureau of Economic Research, Inc.

    Cited by:

    1. Dessi, Roberta, 2011. "Innovation, Spillovers and Venture Capital Contracts," TSE Working Papers 11-253, Toulouse School of Economics (TSE), revised Dec 2013.
    2. Bryane Michael & Andy Chi-Lok Tai, 2023. "Does Asia’s Financial Intermediation of China’s Solar Industry during the 2020s Exhibit a “California Effect”?," Sustainability, MDPI, vol. 15(20), pages 1-21, October.
    3. Naomi Hausman, 2012. "University Innovation, Local Economic Growth, and Entrepreneurship," Working Papers 12-10, Center for Economic Studies, U.S. Census Bureau.
    4. Laura Bottazzi & Marco Da Rin & Thomas F. Hellmann, 2011. "The Importance of Trust for Investment: Evidence from Venture Capital," NBER Working Papers 16923, National Bureau of Economic Research, Inc.
    5. Bradley, Samantha R. & Gicheva, Dora & Hassell, Lydia & Link, Albert N., 2013. "Gender Differences in Access to Private Investment Funding to Support the Development of New Technologies," UNCG Economics Working Papers 13-9, University of North Carolina at Greensboro, Department of Economics.
    6. Anna Kovner & Josh Lerner, 2015. "Doing Well by Doing Good? Community Development Venture Capital," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 24(3), pages 643-663, September.
    7. Edward L. Glaeser & Stuart S. Rosenthal & William C. Strange, 2009. "Urban Economics and Entrepreneurship," NBER Working Papers 15536, National Bureau of Economic Research, Inc.
    8. Cipollone, Angela & Giordani, Paolo E., 2019. "Market frictions in entrepreneurial innovation: Theory and evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 163(C), pages 297-331.
    9. Luca Pennacchio, 2014. "The causal effect of venture capital backing on the underpricing of Italian initial public offerings," Venture Capital, Taylor & Francis Journals, vol. 16(2), pages 131-155, April.
    10. Mollick, Ethan, 2014. "The dynamics of crowdfunding: An exploratory study," Journal of Business Venturing, Elsevier, vol. 29(1), pages 1-16.
    11. Angela Cipollone & Paolo E. Giordani, 2012. "Animal Spirits in Entrepreneurial Innovation: Theory and Evidence," Working Papers CELEG 1201, Dipartimento di Economia e Finanza, LUISS Guido Carli.
    12. Cipollone, Angela & Giordani, Paolo E., 2019. "Entrepreneurs meet financiers: Evidence from the business angel market," Journal of Business Venturing, Elsevier, vol. 34(5), pages 1-1.
    13. Haizhi Wang & Robert Wuebker & Shu Han & Michael Ensley, 2012. "Strategic alliances by venture capital backed firms: an empirical examination," Small Business Economics, Springer, vol. 38(2), pages 179-196, February.
    14. Julia Sass Rubin, 2011. "Countering the Rhetoric of Emerging Domestic Markets: Why More Information Alone Will Not Address the Capital Needs of Underserved Communities," Economic Development Quarterly, , vol. 25(2), pages 182-192, May.
    15. Flavia-Diana NISTOR, 2011. "WHICH ARE THE FACTORS INFLUENCING FINANCING DECISIONS IN SMEs?," Proceedings of the International Conference Investments and Economic Recovery, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 10(1), pages 32-36, December.
    16. Marquez, Robert & Nanda, Vikram & Yavuz, M. Deniz, 2010. "Private Equity Fund Returns: Do Managers Actually Leave Money on the Table?," Working Papers 10-24, University of Pennsylvania, Wharton School, Weiss Center.
    17. Robert Marquez & Vikram Nanda & M. Deniz Yavuz, 2015. "Private Equity Fund Returns and Performance Persistence," Review of Finance, European Finance Association, vol. 19(5), pages 1783-1823.
    18. Pennacchio, Luca, 2013. "The causal effect of venture capital backing on the underpricing of Italian IPOs," MPRA Paper 48695, University Library of Munich, Germany.

  33. Paul Gompers & Anna Kovner & Josh Lerner & David Scharfstein, 2006. "Skill vs. Luck in Entrepreneurship and Venture Capital: Evidence from Serial Entrepreneurs," NBER Working Papers 12592, National Bureau of Economic Research, Inc.

    Cited by:

    1. Amol Navathe & Guy David, 2009. "The Formation of Peer Reputation among Physicians and Its Effect on Technology Adoption," Journal of Human Capital, University of Chicago Press, vol. 3(4), pages 289-322.
    2. Akin Koçak & Michael H. Morris & Haroon Muzaffer Buttar & Sertaç Cifci, 2010. "Entrepreneurial Exit And Reentry: An Exploratory Study Of Turkish Entrepreneurs," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 15(04), pages 439-459.
    3. Francesco Quatraro & Marco Vivarelli, 2015. "Drivers of entrepreneurship and post-entry performance of newborn firms in developing countries," Post-Print hal-01071511, HAL.
    4. Kyle Herkenhoff & Gordon Phillips & Ethan Cohen-Cole, 2017. "The Impact of Consumer Credit Access on Employment, Earnings, and Entrepreneurship," Working Papers 2017-011, Human Capital and Economic Opportunity Working Group.
    5. Kaiser, Ulrich & Kuhn, Johan M., 2020. "The value of publicly available, textual and non-textual information for startup performance prediction," ZEW Discussion Papers 20-012, ZEW - Leibniz Centre for European Economic Research.
    6. Quatraro, Francesco & Vivarelli, Marco, 2013. "Entrepreneurship In A Developing Country Context," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 201314, University of Turin.
    7. Christian Keuschnigg, 2008. "Tax Policy for Venture Capital Backed Entrepreneurship," University of St. Gallen Department of Economics working paper series 2008 2008-07, Department of Economics, University of St. Gallen.
    8. Alessandro Rosiello & Stuart Parris, 2009. "The patterns of venture capital investment in the UK bio-healthcare sector: the role of proximity, cumulative learning and specialisation," Venture Capital, Taylor & Francis Journals, vol. 11(3), pages 185-211, February.
    9. Johannes Wallmeroth & Peter Wirtz & Alexander Peter Groh, 2017. "Institutional Seed Financing, Angel Financing, and Crowdfunding of Entrepreneurial Ventures: A Literature Review," Working Papers hal-01527999, HAL.
    10. Hanaki, Nobuyuki & Kirman, Alan & Marsili, Matteo, 2011. "Born under a lucky star?," Journal of Economic Behavior & Organization, Elsevier, vol. 77(3), pages 382-392, March.
    11. Dew, Nicholas & Read, Stuart & Sarasvathy, Saras D. & Wiltbank, Robert, 2009. "Effectual versus predictive logics in entrepreneurial decision-making: Differences between experts and novices," Journal of Business Venturing, Elsevier, vol. 24(4), pages 287-309, July.
    12. Marco Vivarelli, 2012. "Entrepreneurship and Post-Entry Performance: the Microeconomic Evidence," DISCE - Quaderni del Dipartimento di Scienze Economiche e Sociali dises1286, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    13. Nicolai J. Foss & Peter G. Klein & Lasse B. Lien & Thomas Zellweger & Todd Zenger, 2021. "Ownership competence," Strategic Management Journal, Wiley Blackwell, vol. 42(2), pages 302-328, February.
    14. Kaplan, Steven N. & Klebanov, Mark M. & Rauh, Joshua, 2008. "Which CEO Characteristics and Abilities Matter?," Working Papers 230, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
    15. Peter Wirtz, 2011. "Beyond Agency Theory: Value Creation and the Role of Cognition in the Relationship Between Entrepreneurs and Venture Capitalists," Springer Books, in: Advances in Entrepreneurial Finance, chapter 0, pages 31-43, Springer.
    16. Antoaneta P. Petkova & Violina P. Rindova & Anil K. Gupta, 2013. "No News Is Bad News: Sensegiving Activities, Media Attention, and Venture Capital Funding of New Technology Organizations," Organization Science, INFORMS, vol. 24(3), pages 865-888, June.
    17. De Rosa, Marcello & McElwee, Gerard & Smith, Robert, 2019. "Farm diversification strategies in response to rural policy: a case from rural Italy," Land Use Policy, Elsevier, vol. 81(C), pages 291-301.
    18. Jennifer M. Walske & Andrew Zacharakis, 2009. "Genetically Engineered: Why Some Venture Capital Firms are more Successful than Others," Entrepreneurship Theory and Practice, , vol. 33(1), pages 297-318, January.
    19. Egan, Edward J., 2022. "A framework for assessing municipal high-growth high-technology entrepreneurship policy," Research Policy, Elsevier, vol. 51(9).
    20. Kaiser, Ulrich & Kuhn, Johan Moritz, 2020. "Value of Publicly Available, Textual and Non-textuThe al Information for Startup Performance Prediction," IZA Discussion Papers 13029, Institute of Labor Economics (IZA).
    21. Steven N. Kaplan & Mark M. Klebanov & Morten Sorensen, 2012. "Which CEO Characteristics and Abilities Matter?," Journal of Finance, American Finance Association, vol. 67(3), pages 973-1007, June.
    22. Ruijun Zhang & Xiaotong Yang & Nian Li & Muhammad Asif Khan, 2021. "Herd Behavior in Venture Capital Market: Evidence from China," Mathematics, MDPI, vol. 9(13), pages 1-18, June.
    23. Butticè, Vincenzo & Croce, Annalisa & Ughetto, Elisa, 2021. "Network dynamics in business angel group investment decisions," Journal of Corporate Finance, Elsevier, vol. 66(C).
    24. Dmitri Boreiko & Dimche Risteski, 2021. "Serial and large investors in initial coin offerings," Small Business Economics, Springer, vol. 57(2), pages 1053-1071, August.
    25. Itxaso del-Palacio & Xiaotian Zhang & Francesc Sole, 2012. "The capital gap for small technology companies: public venture capital to the rescue?," Small Business Economics, Springer, vol. 38(3), pages 283-301, April.
    26. Michael D. McKenzie & William H. Janeway, 2011. "Venture capital funds and the public equity market," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 51(3), pages 764-786, September.
    27. Braunerhjelm, Pontus & Lappi, Emma, 2023. "Employees' entrepreneurial human capital and firm performance," Research Policy, Elsevier, vol. 52(2).
    28. Das, Sanjiv R. & Jo, Hoje & Kim, Yongtae, 2011. "Polishing diamonds in the rough: The sources of syndicated venture performance," Journal of Financial Intermediation, Elsevier, vol. 20(2), pages 199-230, April.
    29. Zhang, Junfu, 2007. "The Advantage of Experienced Start-Up Founders in Venture Capital Acquisition: Evidence from Serial Entrepreneurs," IZA Discussion Papers 2964, Institute of Labor Economics (IZA).
    30. Braunerhjelm, Pontus & Parker, Simon, 2010. "Josh Lerner: Recipient of the 2010 Global Award for Entrepreneurship Research," Working Paper Series in Economics and Institutions of Innovation 233, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    31. Carolin Bock & Christian Hackober, 2020. "Unicorns—what drives multibillion-dollar valuations?," Business Research, Springer;German Academic Association for Business Research, vol. 13(3), pages 949-984, November.
    32. Jeongsik “Jay” Lee, 2010. "Heterogeneity, Brokerage, and Innovative Performance: Endogenous Formation of Collaborative Inventor Networks," Organization Science, INFORMS, vol. 21(4), pages 804-822, August.
    33. Jeffrey Overall & Sean Wise, 2016. "The Antecedents of Entrepreneurial Success: A Mixed Methods Approach," Journal of Enterprising Culture (JEC), World Scientific Publishing Co. Pte. Ltd., vol. 24(03), pages 209-241, September.
    34. Jing Chen, 2013. "Selection and Serial Entrepreneurs," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 22(2), pages 281-311, June.
    35. Marco Vivarelli, 2013. "Is entrepreneurship necessarily good? Microeconomic evidence from developed and developing countries," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 22(6), pages 1453-1495, December.
    36. Francesco Quatraro & Marco Vivarelli, 2013. "Entry and Post-Entry Dynamics in Developing Countries," GREDEG Working Papers 2013-20, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    37. Vivarelli, Marco, 2012. "Drivers of entrepreneurship and post-entry performance : microeconomic evidence from advanced and developing countries," Policy Research Working Paper Series 6245, The World Bank.
    38. Vivarelli, Marco, 2012. "Entrepreneurship in Advanced and Developing Countries: A Microeconomic Perspective," IZA Discussion Papers 6513, Institute of Labor Economics (IZA).
    39. Isik, Ihsan & Topuz, John C., 2017. "Meet the “born efficient” financial institutions: Evidence from the boom years of US REITs," The Quarterly Review of Economics and Finance, Elsevier, vol. 66(C), pages 70-99.
    40. Dan K. Hsu & Johan Wiklund & Richard D. Cotton, 2017. "Success, Failure, and Entrepreneurial Reentry: An Experimental Assessment of the Veracity of Self–Efficacy and Prospect Theory," Entrepreneurship Theory and Practice, , vol. 41(1), pages 19-47, January.
    41. Toft-Kehler, Rasmus & Wennberg, Karl & Kim, Phillip H., 2014. "Practice makes perfect: Entrepreneurial-experience curves and venture performance," Journal of Business Venturing, Elsevier, vol. 29(4), pages 453-470.
    42. Ullah, Barkat, 2021. "Does innovation explain the performance gap between privatized and private firms?," Journal of Economics and Business, Elsevier, vol. 113(C).
    43. Steven N. Kaplan & Mark M. Klebanov & Morten Sorensen, 2008. "Which CEO Characteristics and Abilities Matter?," NBER Working Papers 14195, National Bureau of Economic Research, Inc.
    44. Avi Goldfarb & Mo Xiao, 2024. "Transitory shocks, limited attention, and a firm’s decision to exit," Quantitative Marketing and Economics (QME), Springer, vol. 22(3), pages 223-255, September.
    45. Amankwah-Amoah, Joseph & Adomako, Samuel & Berko, Damoah Obi, 2022. "Once bitten, twice shy? The relationship between business failure experience and entrepreneurial collaboration," Journal of Business Research, Elsevier, vol. 139(C), pages 983-992.

  34. Paul Gompers & Anna Kovner & Josh Lerner & David Scharfstein, 2005. "Venture Capital Investment Cycles: The Impact of Public Markets," NBER Working Papers 11385, National Bureau of Economic Research, Inc.

    Cited by:

    1. Cécile Carpentier & Jean-François L’Her & Jean-Marc Suret, 2008. "Does securities regulation constrain small business finance? An empirical analysis," Small Business Economics, Springer, vol. 31(4), pages 363-377, December.
    2. Sabrina T. Howell & Josh Lerner & Ramana Nanda & Richard R. Townsend, 2020. "How Resilient is Venture-Backed Innovation? Evidence from Four Decades of U.S. Patenting," NBER Working Papers 27150, National Bureau of Economic Research, Inc.
    3. Fabio Bertoni & Tereza Tykvova, 2015. "Does governmental venture capital spur invention and innovation? Evidence from young European biotech companies," Post-Print hal-02313268, HAL.
    4. Bottazzi, Laura & Da Rin, Marco & Hellmann, Thomas, 2009. "What is the role of legal systems in financial intermediation? Theory and evidence," Journal of Financial Intermediation, Elsevier, vol. 18(4), pages 559-598, October.
    5. Chen, Zhuming & Chen, Can & Lin, Tao & Chen, Xiaoguo, 2021. "The dynamic investment and exit decisions of venture capitals," The North American Journal of Economics and Finance, Elsevier, vol. 55(C).
    6. Roland Füss & Denis Schweizer, 2012. "Short and long-term interactions between venture capital returns and the macroeconomy: evidence for the United States," Review of Quantitative Finance and Accounting, Springer, vol. 38(3), pages 391-410, April.
    7. Jeaneth Johansson & Malin Malmström & Joakim Wincent & Vinit Parida, 2021. "How individual cognitions overshadow regulations and group norms: a study of government venture capital decisions," Small Business Economics, Springer, vol. 56(2), pages 857-876, February.
    8. Amit Bubna & Sanjiv R. Das & Paul Hanouna, 2020. "The Fast and the Curious: VC Drift," Journal of Financial Services Research, Springer;Western Finance Association, vol. 57(1), pages 69-113, February.
    9. Tereza Tykvová, 2006. "How do investment patterns of independent and captive private equity funds differ? Evidence from Germany," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 20(4), pages 399-418, December.
    10. Andrea Bellucci & Alexander Borisov & Gianluca Gucciardi & Alberto Zazzaro, 2024. "The Staying Power of Face-to-face in the Global Venture Capital Market," CSEF Working Papers 721, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    11. Andrew Metrick & Ayako Yasuda, 2011. "Venture Capital and Other Private Equity: a Survey," European Financial Management, European Financial Management Association, vol. 17(4), pages 619-654, September.
    12. Köppl-Turyna, Monika & Köppl, Stefan & Christopulos, Dimitris, 2023. "How to support cleantech start-ups? Lessons from European venture-capital deals," Research Papers 25, EcoAustria – Institute for Economic Research.
    13. Tumasjan, Andranik & Braun, Reiner & Stolz, Barbara, 2021. "Twitter sentiment as a weak signal in venture capital financing," Journal of Business Venturing, Elsevier, vol. 36(2).
    14. Sorensen, Morten, 2007. "Learning by Investing: Evidence from Venture Capital," SIFR Research Report Series 53, Institute for Financial Research.
    15. Sang-Jun Shin & Keun-Tae Cho, 2022. "Human Resources, Investor Composition and Performance of Venture Funds: Focused on the Stakeholders of Venture Funds," Sustainability, MDPI, vol. 14(24), pages 1-21, December.
    16. Paul Gompers & Anna Kovner & Josh Lerner, 2009. "Specialization and Success: Evidence from Venture Capital," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 18(3), pages 817-844, September.
    17. Antonia Nörthemann, 2023. "Industry-specific specialization in venture capitalists’ internationalization decisions," Journal of Business Economics, Springer, vol. 93(5), pages 891-927, July.
    18. Dirk Bergemann & Ulrich Hege & Liang Peng, 2008. "Venture Capital and Sequential Investments," Cowles Foundation Discussion Papers 1682, Cowles Foundation for Research in Economics, Yale University, revised Nov 2008.
    19. Pandey, Dharen Kumar & Hunjra, Ahmed Imran & Hassan, M. Kabir & Rai, Varun Kumar, 2023. "Venture capital financing during crises: A bibliometric review," Research in International Business and Finance, Elsevier, vol. 64(C).
    20. Luis Alberiko Gil-Alana & Francisco Puertolas-Montanes, 2023. "Profitability of private equity: mean reversion and transitory shocks," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 47(2), pages 458-471, June.
    21. Ramana Nanda & Matthew Rhodes-Kropf, 2015. "Financing Entrepreneurial Experimentation," NBER Working Papers 21278, National Bureau of Economic Research, Inc.
    22. Tom Vanacker & Sophie Manigart & Miguel Meuleman, 2014. "Path–Dependent Evolution versus Intentional Management of Investment Ties in Science–Based Entrepreneurial Firms," Entrepreneurship Theory and Practice, , vol. 38(3), pages 671-690, May.
    23. Da Rin, Marco, 2016. "Financing Growth through Venture Capital in Asia and the Pacific," Other publications TiSEM 9fb91a28-6b54-41ce-a01d-9, Tilburg University, School of Economics and Management.
    24. Xu, Tianli & Xu, Longbing & Zhu, Siyuan, 2023. "Common ownership and executive pay-for-performance sensitivity: Evidence from China," Research in International Business and Finance, Elsevier, vol. 65(C).
    25. Ramana Nanda & Matthew Rhodes-Kropf, 2011. "Investment Cycles and Startup Innovation," Harvard Business School Working Papers 12-032, Harvard Business School, revised Dec 2012.
    26. Bottazzi, L. & Da Rin, M. & Hellmann, T., 2008. "Who are the active investors? Evidence from venture capital," Other publications TiSEM 9336411f-ac48-4fad-8a2c-d, Tilburg University, School of Economics and Management.
    27. Stéphane Koffel, 2016. "Projets financés par Equity-Crowdfunding," Post-Print hal-03556011, HAL.
    28. Bonnet, Christophe & Capizzi, Vincenzo & Cohen, Laurence & Petit, Aurelien & Wirtz, Peter, 2022. "What drives the active involvement in business angel groups? The role of angels' decision-making style, investment-specific human capital and motivations," Journal of Corporate Finance, Elsevier, vol. 77(C).
    29. Gompers, Paul & Kovner, Anna & Lerner, Josh & Scharfstein, David, 2010. "Performance persistence in entrepreneurship," Journal of Financial Economics, Elsevier, vol. 96(1), pages 18-32, April.
    30. Bengtsson, Ola & Sensoy, Berk A., 2009. "Investor Abilities and Financial Contracting: Evidence from Venture Capital," Working Paper Series 2009-22, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    31. Santhosh Ramalingegowda & Steven Utke & Yong Yu, 2021. "Common Institutional Ownership and Earnings Management," Contemporary Accounting Research, John Wiley & Sons, vol. 38(1), pages 208-241, March.
    32. Borell, Mariela & Heger, Diana, 2013. "Sources of value creation through private equity-backed mergers and acquisitions: The case of buy-and-build strategies," ZEW Discussion Papers 13-094, ZEW - Leibniz Centre for European Economic Research.
    33. Johannes Wallmeroth & Peter Wirtz & Alexander Peter Groh, 2017. "Institutional Seed Financing, Angel Financing, and Crowdfunding of Entrepreneurial Ventures: A Literature Review," Working Papers hal-01527999, HAL.
    34. Roman Kraussl & Stefan Krause, 2013. "Has Europe Been Catching Up? An Industry Level Analysis of Venture Capital Success over 1985-2009," LSF Research Working Paper Series 13-6, Luxembourg School of Finance, University of Luxembourg.
    35. Dang, Viet Anh & Karpuz, Ahmet & Mohamed, Abdulkadir, 2023. "Venture capital directors and corporate debt structure: An empirical analysis of newly listed companies," Journal of Banking & Finance, Elsevier, vol. 157(C).
    36. Bing Liu & Hui Jiang, 2019. "Are Distances Barriers to Sustainability for Venture Capital Syndication?," Sustainability, MDPI, vol. 11(15), pages 1-18, July.
    37. Cooper Howes & Alice von Ende-Becker, 2022. "Monetary Policy and Intangible Investment," Economic Review, Federal Reserve Bank of Kansas City, vol. 107(no.2), March.
    38. Hearn, Bruce, 2011. "The impact of corporate governance measures on the performance of West African IPO firms," Emerging Markets Review, Elsevier, vol. 12(2), pages 130-151, June.
    39. Ranko Jelic & Mike Wright, 2011. "Exits, Performance, and Late Stage Private Equity: the Case of UK Management Buy†outs," European Financial Management, European Financial Management Association, vol. 17(3), pages 560-593, June.
    40. Hege, Ulrich & Lovo, Stefano & Slovin, Myron B. & Sushka, Marie E., 2018. "Divisional buyouts by private equity and the market for divested assets," Journal of Corporate Finance, Elsevier, vol. 53(C), pages 21-37.
    41. Josh Lerner & Ulrike Malmendier, 2013. "With a Little Help from My (Random) Friends: Success and Failure in Post-Business School Entrepreneurship," The Review of Financial Studies, Society for Financial Studies, vol. 26(10), pages 2411-2452.
    42. Lopez-de-Silanes, Florencio & Phalippou, Ludovic & Gottschalg, Olivier, 2010. "Giants at the Gate: On the Cross-section of Private Equity Investment Returns," MPRA Paper 28487, University Library of Munich, Germany.
    43. Giot, Pierre & Hege, Ulrich & Schwienbacher, Armin, 2014. "Are novice private equity funds risk-takers? Evidence from a comparison with established funds," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 55-71.
    44. Antretter, Torben & Sirén, Charlotta & Grichnik, Dietmar & Wincent, Joakim, 2020. "Should business angels diversify their investment portfolios to achieve higher performance? The role of knowledge access through co-investment networks," Journal of Business Venturing, Elsevier, vol. 35(5).
    45. Da Rin, M. & Hellmann, T. & Puri, M.L., 2011. "A Survey of Venture Capital Research," Discussion Paper 2011-111, Tilburg University, Center for Economic Research.
    46. Jörn H. Block & Christian Fisch & Walter Diegel, 2024. "Schumpeterian entrepreneurial digital identity and funding from venture capital firms," The Journal of Technology Transfer, Springer, vol. 49(1), pages 119-157, February.
    47. Obrimah, Oghenovo A. & Prakash, Puneet, 2010. "Performance reversals and attitudes towards risk in the venture capital (VC) market," Journal of Economics and Business, Elsevier, vol. 62(6), pages 537-561, November.
    48. Li, Yong, 2008. "Duration analysis of venture capital staging: A real options perspective," Journal of Business Venturing, Elsevier, vol. 23(5), pages 497-512, September.
    49. Daniel Hain & Sofia Johan & Daojuan Wang, 2016. "Determinants of Cross-Border Venture Capital Investments in Emerging and Developed Economies: The Effects of Relational and Institutional Trust," Journal of Business Ethics, Springer, vol. 138(4), pages 743-764, November.
    50. Brunella Bruno & Emilia Garcia‐Appendini & Giacomo Nocera, 2018. "Experience and Brokerage in Asset Markets: Evidence from Art Auctions," Financial Management, Financial Management Association International, vol. 47(4), pages 833-864, December.
    51. Andrea Bellucci & Alexander Borisov & Gianluca Gucciardi & Alberto Zazzaro, 2020. "The Reallocation Effects of COVID-19: Evidence from Venture Capital Investments around the World," Mo.Fi.R. Working Papers 167, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    52. David T. Robinson & Berk A. Sensoy, 2011. "Cyclicality, Performance Measurement, and Cash Flow Liquidity in Private Equity," NBER Working Papers 17428, National Bureau of Economic Research, Inc.
    53. P. Mohnen & F. Palm & S. Loeff & A. Tiwari, 2008. "Financial Constraints and Other Obstacles: are they a Threat to Innovation Activity?," De Economist, Springer, vol. 156(2), pages 201-214, June.
    54. Aleksandar Bradic, 2012. "The Role of Social Feedback in Financing of Technology Ventures," Papers 1301.2196, arXiv.org.
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    58. Li Yao & Alex Singleton & Pingjun Sun & Guanpeng Dong, 2021. "The Evolution Characteristics and Influence Mechanism of Chinese Venture Capital Spatial Agglomeration," IJERPH, MDPI, vol. 18(6), pages 1-21, March.
    59. Jürgen Marchart & Thomas Url, 2008. "Hemmnisse für die Finanzierung von Frühphasen- oder Venture-Capital-Fonds in Österreich," WIFO Studies, WIFO, number 32579.
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  8. Thomas M. Eisenbach & Andrew F. Haughwout & Beverly Hirtle & Anna Kovner & David O. Lucca & Matthew Plosser, 2017. "Supervising large, complex financial institutions: what do supervisors do?," Economic Policy Review, Federal Reserve Bank of New York, issue 23-1, pages 57-77.

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    1. Beverly Hirtle & Anna Kovner & Matthew Plosser, 2020. "The Impact of Supervision on Bank Performance," Journal of Finance, American Finance Association, vol. 75(5), pages 2765-2808, October.
    2. Altavilla, Carlo & Boucinha, Miguel & Peydró, José-Luis & Smets, Frank, 2020. "Banking supervision, monetary policy and risk-taking: big data evidence from 15 credit registers," Working Paper Series 2349, European Central Bank.
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    4. Elena Carletti & Mr. Giovanni Dell'Ariccia & Mr. Robert Marquez, 2016. "Supervisory Incentives in a Banking Union," IMF Working Papers 2016/186, International Monetary Fund.
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    7. Karel Janda & Oleg Kravtsov, 2020. "Banking Supervision and Risk-Adjusted Performance inthe Host Country Environment," FFA Working Papers 3.001, Prague University of Economics and Business, revised 19 Nov 2020.
    8. Anna M. Costello & João Granja & Joseph Weber, 2019. "Do Strict Regulators Increase the Transparency of Banks?," Journal of Accounting Research, Wiley Blackwell, vol. 57(3), pages 603-637, June.
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    10. Jianxing Wei & Tong Xu, 2018. "A Model of Bank Credit Cycles," 2018 Meeting Papers 610, Society for Economic Dynamics.
    11. Luis Dumlao, 2024. "The Principle of Cost-Based Supervision in Practice," International Journal of Economic Sciences, European Research Center, vol. 13(2), pages 1-19, December.

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    4. Dumontaux, Nicolas & Pop, Adrian, 2013. "Understanding the market reaction to shockwaves: Evidence from the failure of Lehman Brothers," Journal of Financial Stability, Elsevier, vol. 9(3), pages 269-286.
    5. Nathan Foley-Fisher & Stefan Gissler & Stephane Verani, 2019. "Online Appendix to "Over-the-Counter Market Liquidity and Securities Lending"," Online Appendices 18-283, Review of Economic Dynamics.
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  13. Victoria Ivashina & Anna Kovner, 2011. "The Private Equity Advantage: Leveraged Buyout Firms and Relationship Banking," The Review of Financial Studies, Society for Financial Studies, vol. 24(7), pages 2462-2498.

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    1. Achleitner, Ann-Kristin & Braun, Reiner & Engel, Nico, 2011. "Value creation and pricing in buyouts: Empirical evidence from Europe and North America," Review of Financial Economics, Elsevier, vol. 20(4), pages 146-161.
    2. Tykvová, Tereza & Borell, Mariela, 2012. "Do private equity owners increase risk of financial distress and bankruptcy?," Journal of Corporate Finance, Elsevier, vol. 18(1), pages 138-150.
    3. Paulo P. Alves & M. Ricardo Cunha & Luís K. Pacheco & João M. Pinto, 2022. "How Banks Price Loans for LBOs: an Empirical Analysis of Spread Determinants ," Journal of Financial Services Research, Springer;Western Finance Association, vol. 62(3), pages 163-200, December.
    4. Massa, Massimo & Žaldokas, Alminas, 2017. "Information transfers among co-owned firms," Journal of Financial Intermediation, Elsevier, vol. 31(C), pages 77-92.
    5. Green, Daniel & Liu, Ernest, 2021. "A dynamic theory of multiple borrowing," Journal of Financial Economics, Elsevier, vol. 139(2), pages 389-404.
    6. Jung Koo Kang & Christopher D. Williams & Regina Wittenberg-Moerman, 2021. "CDS trading and nonrelationship lending dynamics," Review of Accounting Studies, Springer, vol. 26(1), pages 258-292, March.
    7. Axelson, Ulf & Jenkinson, Tim & Strömberg, Per & Weisbach, Michael, 2012. "Borrow cheap, buy high? The determinants of leverage and pricing in buyouts," LSE Research Online Documents on Economics 119054, London School of Economics and Political Science, LSE Library.
    8. Ambrocio, Gene & Hasan, Iftekhar, 2019. "What drives discretion in bank lending? Some evidence and a link to private information," Journal of Banking & Finance, Elsevier, vol. 106(C), pages 323-340.
    9. Panagiotis Karavitis & Sotirios Kokas & Serafeim Tsoukas, 2020. "Gender board diversity and the cost of bank loans," Working Papers 2020_25, Business School - Economics, University of Glasgow.
    10. Yan Alperovych & Anantha Divakaruni & Sophie Manigart, 2022. "Lending when relationships are scarce : The role of information spread via bank networks," Post-Print hal-04325549, HAL.
    11. Steven Poelhekke & Razvan Vlahu & Vadym Volosovych, 2021. "Corporate Acquisitions and Bank Relationships," Working Papers 726, DNB.
    12. Shai Bernstein & Josh Lerner & Filippo Mezzanotti, 2019. "Private Equity and Financial Fragility during the Crisis," The Review of Financial Studies, Society for Financial Studies, vol. 32(4), pages 1309-1373.
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    22. Grupp, Marcel, 2015. "On the impact of leveraged buyouts on bank systemic risk," SAFE Working Paper Series 101, Leibniz Institute for Financial Research SAFE.
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    24. Jeffery (Jinfan) Chang & Ting Yang & Yanping Shi, 2022. "Finance Leases: In the Shadow of Banks [Entrusted loans: a close look at China’s shadow banking system]," Review of Finance, European Finance Association, vol. 26(3), pages 721-749.
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    31. Marcello Pagnini & Paola Rossi & Valerio Vacca & Rik Pantjes & Günseli Tümer-Alkan, 2017. "Firms’ Choice of Financiers in M&A Deals: The Value of Bank-Firm Relationships," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 46(3), pages 633-648, November.
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    33. Steven J. Davis & John C. Haltiwanger & Kyle Handley & Ben Lipsius & Josh Lerner & Javier Miranda, 2021. "The economic effects of private equity buyouts," Jena Economics Research Papers 2021-013, Friedrich-Schiller-University Jena.
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    36. Sharjil M. Haque & Anya V. Kleymenova, 2023. "Private Equity and Debt Contract Enforcement: Evidence from Covenant Violations," Finance and Economics Discussion Series 2023-018, Board of Governors of the Federal Reserve System (U.S.).
    37. Shikimi, Masayo, 2019. "Bank relationships and corporate cash holdings," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
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    40. Giovannetti, Andrea & Pipic, Denis, 2023. "Shaking hands with common foes: Clique premium and information diffusion in private equity networks," International Review of Financial Analysis, Elsevier, vol. 86(C).
    41. Achleitner, Ann-Kristin & Braun, Reiner & Tappeiner, Florian, 2009. "Structure and determinants of financial covenants in leveraged buyouts - evidence from an economy with strong creditor rights," CEFS Working Paper Series 2009-15, Technische Universität München (TUM), Center for Entrepreneurial and Financial Studies (CEFS).
    42. Sean Shenghsiu Huang & John R. Bowblis, 2019. "Private equity ownership and nursing home quality: an instrumental variables approach," International Journal of Health Economics and Management, Springer, vol. 19(3), pages 273-299, December.
    43. Altınkılıç, Oya & Balashov, Vadim S. & Hansen, Robert S., 2019. "Investment bank monitoring and bonding of security analysts’ research," Journal of Accounting and Economics, Elsevier, vol. 67(1), pages 98-119.
    44. Ann-Kristin Achleitner & Reiner Braun & Eva Lutz & Florian Tappeiner, 2018. "Private equity group reputation and financing structures in German leveraged buyouts," Journal of Business Economics, Springer, vol. 88(3), pages 363-392, May.
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    46. Gregory J. Cohen & Jacob Dice & Melanie Friedrichs & Kamran Gupta & William Hayes & Isabel Kitschelt & Seung Jung Lee & W. Blake Marsh & Nathan Mislang & Maya Shaton & Martin Sicilian & Chris Webster, 2021. "The U.S. syndicated loan market: Matching data," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 44(4), pages 695-723, December.
    47. Hasan Yalçın, 2024. "Metric Conflict in Financial Analysis: A Comparison and Application of EBITDA and EVA," Muhasebe Enstitusu Dergisi - Journal of Accounting Institute, Istanbul University Business School, vol. 0(70), pages 39-57, January.
    48. Steven N. Kaplan & Per Stromberg, 2009. "Leveraged Buyouts and Private Equity," Journal of Economic Perspectives, American Economic Association, vol. 23(1), pages 121-146, Winter.
    49. Lončarski, Igor & Marinč, Matej, 2020. "The political economy of relationship banking," Research in International Business and Finance, Elsevier, vol. 51(C).
    50. Braun, Reiner & Engel, Nico & Hieber, Peter & Zagst, Rudi, 2011. "The risk appetite of private equity sponsors," Journal of Empirical Finance, Elsevier, vol. 18(5), pages 815-832.
    51. Steven J. Davis & John C. Haltiwanger & Kyle Handley & Ben Lipsius & Josh Lerner & Javier Miranda, 2019. "The (Heterogenous) Economic Effects of Private Equity Buyouts," NBER Working Papers 26371, National Bureau of Economic Research, Inc.
    52. Shu Feng & Chang Liu & Xiaoling Pu, 2022. "Connected Lending in Bank Lines of Credit," Journal of Financial Services Research, Springer;Western Finance Association, vol. 61(2), pages 187-216, April.
    53. Dyaran Bansraj & Han Smit & Vadym Volosovych, 2020. "Can Private Equity Funds Act as Strategic Buyers? Evidence from Buy-and-Build Strategies," Tinbergen Institute Discussion Papers 20-041/IV, Tinbergen Institute.
    54. Robert M. Bushman & Regina Wittenberg‐Moerman, 2012. "The Role of Bank Reputation in “Certifying” Future Performance Implications of Borrowers’ Accounting Numbers," Journal of Accounting Research, Wiley Blackwell, vol. 50(4), pages 883-930, September.
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    57. Leonel Arango Vásquez & Eduardo Alexander Duque Grisales, 2016. "Capital riesgo y dinero inteligente: aportes de valor no monetario," Contexto (Artículos Sobre Economía), Universidad Externado de Colombia, February.
    58. Marina-Eliza Spaliara & Serafeim Tsoukas & Paul Lavery, 2021. "Private equity and bank capital requirements: Evidence from European firms," Working Papers 2021_11, Business School - Economics, University of Glasgow.
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    60. Wang, Ming-Chang & Ding, Yu-Jia & Chiang, Hsin-Chieh, 2018. "Do enterprise–bank relationships improve market quality? Evidence from Taiwan," The Quarterly Review of Economics and Finance, Elsevier, vol. 67(C), pages 79-91.
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    Cited by:

    1. Bottazzi, L. & Da Rin, M. & Hellmann, T., 2010. "The Importance of Trust for Investment : Evidence From Venture Capital (Revision of DP 2009-43)," Other publications TiSEM 27f82ebe-4bae-4bfa-a3a0-8, Tilburg University, School of Economics and Management.
    2. Colombo, Massimo G. & Guerini, Massimiliano & Hoisl, Karin & Zeiner, Nico M., 2023. "The dark side of signals: Patents protecting radical inventions and venture capital investments," Research Policy, Elsevier, vol. 52(5).
    3. Richard T Harrison & Babangida Yohanna & Yannis Pierrakis, 2020. "Internationalisation and localisation: Foreign venture capital investments in the United Kingdom," Local Economy, London South Bank University, vol. 35(3), pages 230-256, May.
    4. Yating Li & Martin Kenney & Donald Patton & Abraham Song, 2023. "Entrepreneurial ecosystems and industry knowledge: does the winning region take all?," Small Business Economics, Springer, vol. 61(1), pages 153-172, June.
    5. Massimiliano Guerini & Francesca Tenca, 2018. "The geography of technology-intensive start-ups and venture capital: European evidence," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 45(3), pages 361-386, September.
    6. Felipe, Israel José dos Santos & Mendes-Da-Silva, Wesley & Leal, Cristiana Cerqueira & Braun Santos, Danilo, 2022. "Reward crowdfunding campaigns: Time-to-success analysis," Journal of Business Research, Elsevier, vol. 138(C), pages 214-228.
    7. Ying Wang & Jing Zhao, 2015. "Hedge Funds and Corporate Innovation," Financial Management, Financial Management Association International, vol. 44(2), pages 353-385, June.
    8. Gompers, Paul A. & Mukharlyamov, Vladimir & Xuan, Yuhai, 2016. "The cost of friendship," Journal of Financial Economics, Elsevier, vol. 119(3), pages 626-644.
    9. Crass, Dirk & Rammer, Christian & Aschhoff, Birgit, 2016. "Geographical clustering and the effectiveness of public innovation programs," ZEW Discussion Papers 16-083, ZEW - Leibniz Centre for European Economic Research.
    10. Simon K. Medcalfe & Mark A. Thompson, 2017. "Further evidence on the geographical concentration of venture capital investments," Letters in Spatial and Resource Sciences, Springer, vol. 10(2), pages 229-235, July.
    11. Ballinger, T. Parker & Habegger, Wendy & Jones, Clifton T. & Thompson, Mark A., 2016. "Convergence in Venture Capital Investments: Evidence from a Panel of 18 US Regions," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 46(2), December.
    12. Fuchs, Florian & Fuess, Roland & Jenkinson, Tim & Morkoetter, Stefan, 2017. "Winning a Deal in Private Equity: Do Educational Networks Matter?," Working Papers on Finance 17155, University of St. Gallen, School of Finance.
    13. Andrea Bellucci & Alexander Borisov & Gianluca Gucciardi & Alberto Zazzaro, 2024. "The Staying Power of Face-to-face in the Global Venture Capital Market," CSEF Working Papers 721, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    14. Massimo G. Colombo & Diego d'Adda & Anita Quas, 2019. "The geography of venture capital and entrepreneurial ventures’ demand for external equity," Post-Print hal-02312284, HAL.
    15. Andrew Metrick & Ayako Yasuda, 2011. "Venture Capital and Other Private Equity: a Survey," European Financial Management, European Financial Management Association, vol. 17(4), pages 619-654, September.
    16. Xu, Lei & Ou, Amy Y. & Park, Haemin Dennis & Jiang, Han, 2024. "Breaking barriers or maintaining status quo? Female representation in decision-making group of venture capital firms and the funding of woman-led businesses," Journal of Business Venturing, Elsevier, vol. 39(1).
    17. Breinlich, Holger & Ottaviano, Gianmarco I P & Temple, Jonathan R, 2013. "Regional Growth and Regional Decline," Economics Discussion Papers 8977, University of Essex, Department of Economics.
    18. Antonia Nörthemann, 2023. "Industry-specific specialization in venture capitalists’ internationalization decisions," Journal of Business Economics, Springer, vol. 93(5), pages 891-927, July.
    19. Howard Bodenhorn & David Cuberes, 2010. "Financial Development and City Growth: Evidence from Northeastern American Cities, 1790-1870," NBER Working Papers 15997, National Bureau of Economic Research, Inc.
    20. Caleb Gallemore & Kristian Roed Nielsen & Kristjan Jespersen, 2019. "The uneven geography of crowdfunding success: Spatial capital on Indiegogo," Environment and Planning A, , vol. 51(6), pages 1389-1406, September.
    21. Abraham K. Song, 2019. "The Digital Entrepreneurial Ecosystem—a critique and reconfiguration," Small Business Economics, Springer, vol. 53(3), pages 569-590, October.
    22. Salim Chahine & Yan (Anthea) Zhang, 2020. "Change gears before speeding up: The roles of Chief Executive Officer human capital and venture capitalist monitoring in Chief Executive Officer change before initial public offering," Strategic Management Journal, Wiley Blackwell, vol. 41(9), pages 1653-1681, September.
    23. Santiago Mingo & Francisco Morales & Luis Alfonso Dau, 2018. "The interplay of national distances and regional networks: Private equity investments in emerging markets," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(3), pages 371-386, April.
    24. Bengtsson, Ola & Hsu, David H., 2013. "Ethnic Matching in the U.S. Venture Capital Market," Knut Wicksell Working Paper Series 2013/8, Lund University, Knut Wicksell Centre for Financial Studies.
    25. Bing Liu & Hui Jiang, 2019. "Are Distances Barriers to Sustainability for Venture Capital Syndication?," Sustainability, MDPI, vol. 11(15), pages 1-18, July.
    26. Boubaker, Sabri & Derouiche, Imen & Lasfer, Meziane, 2015. "Geographic location, excess control rights, and cash holdings," International Review of Financial Analysis, Elsevier, vol. 42(C), pages 24-37.
    27. Naomi Hausman, 2012. "University Innovation, Local Economic Growth, and Entrepreneurship," Working Papers 12-10, Center for Economic Studies, U.S. Census Bureau.
    28. Cowling, Marc & Ughetto, Elisa & Lee, Neil, 2018. "The innovation debt penalty: Cost of debt, loan default, and the effects of a public loan guarantee on high-tech firms," Technological Forecasting and Social Change, Elsevier, vol. 127(C), pages 166-176.
    29. Gerald Carlino & William R. Kerr, 2014. "Agglomeration and Innovation," NBER Working Papers 20367, National Bureau of Economic Research, Inc.
    30. Siddharth Vedula & Markus Fitza, 2019. "Regional Recipes: A Configurational Analysis of the Regional Entrepreneurial Ecosystem for U.S. Venture Capital-Backed Startups," Strategy Science, INFORMS, vol. 4(1), pages 4-24, March.
    31. Laura Bottazzi & Marco Da Rin & Thomas F. Hellmann, 2011. "The Importance of Trust for Investment: Evidence from Venture Capital," NBER Working Papers 16923, National Bureau of Economic Research, Inc.
    32. Bradley, Samantha R. & Gicheva, Dora & Hassell, Lydia & Link, Albert N., 2013. "Gender Differences in Access to Private Investment Funding to Support the Development of New Technologies," UNCG Economics Working Papers 13-9, University of North Carolina at Greensboro, Department of Economics.
    33. Anna Kovner & Josh Lerner, 2015. "Doing Well by Doing Good? Community Development Venture Capital," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 24(3), pages 643-663, September.
    34. Tian, Xuan, 2011. "The causes and consequences of venture capital stage financing," Journal of Financial Economics, Elsevier, vol. 101(1), pages 132-159, July.
    35. Edward L. Glaeser & Stuart S. Rosenthal & William C. Strange, 2009. "Urban Economics and Entrepreneurship," NBER Working Papers 15536, National Bureau of Economic Research, Inc.
    36. Liaoliao Duan & Dongxiao Niu & Weizeng Sun & Siqi Zheng, 2021. "Transportation infrastructure and capital mobility: evidence from China’s high-speed railways," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 67(3), pages 617-648, December.
    37. TIAN, Xiaoli & KOU, Gang & ZHANG, Weike, 2020. "Geographic distance, venture capital and technological performance: Evidence from Chinese enterprises," Technological Forecasting and Social Change, Elsevier, vol. 158(C).
    38. Steven Poelhekke & Benjamin Wache, 2023. "The Impact of Venture Capital on Economic Growth," Tinbergen Institute Discussion Papers 23-050/VIII, Tinbergen Institute.
    39. Elvin Afandi & Majid Kermani, 2014. "Bridging the Gender Gap in Entrepreneurship: Evidence from Europe," William Davidson Institute Working Papers Series wp1074, William Davidson Institute at the University of Michigan.
    40. Eesley, Charles E. & Miller, William F., 2018. "Impact: Stanford University’s Economic Impact via Innovation and Entrepreneurship," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 14(2), pages 130-278, April.
    41. Fabio Bertoni & Massimo G. Colombo & Anita Quas, 2019. "The Role of Governmental Venture Capital in the Venture Capital Ecosystem: An Organizational Ecology Perspective," Entrepreneurship Theory and Practice, , vol. 43(3), pages 611-628, May.
    42. Chen, Jun & Ewens, Michael, 2021. "Venture Capitalists' Access to Finance and Its Impact on Startups," SocArXiv 8tpux, Center for Open Science.
    43. Zhang, Weike & Tian, Xiaoli & Yu, Ao, 2020. "Is high-speed rail a catalyst for the fourth industrial revolution in China? Story of enhanced technology spillovers from venture capital," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    44. Sofie De Prijcker & Sophie Manigart & Veroniek Collewaert & Tom Vanacker, 2019. "Relocation to Get Venture Capital: A Resource Dependence Perspective," Entrepreneurship Theory and Practice, , vol. 43(4), pages 697-724, July.
    45. Li, Wenfei & Li, Donghui & Yang, Shijie, 2022. "The impact of internet penetration on venture capital investments: Evidence from a quasi-natural experiment," Journal of Corporate Finance, Elsevier, vol. 76(C).
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    Cited by:

    1. Gerasymenko, Violetta & Arthurs, Jonathan D., 2014. "New insights into venture capitalists' activity: IPO and time-to-exit forecast as antecedents of their post-investment involvement," Journal of Business Venturing, Elsevier, vol. 29(3), pages 405-420.
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    3. Robert Loos & Bernhard Schwetzler, 2017. "Fueling the buyout machine: fundraising in private equity," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 31(4), pages 397-443, November.
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    6. Nguyen, Giang & Vu, Le, 2021. "Does venture capital syndication affect mergers and acquisitions?," Journal of Corporate Finance, Elsevier, vol. 67(C).
    7. Sannajust, Aurélie & Groh, Alexander Peter, 2020. "There's no need to be a pioneer in emerging private equity markets," Journal of Corporate Finance, Elsevier, vol. 65(C).
    8. Massimo G. Colombo & Samuele Murtinu, 2017. "Venture Capital Investments in Europe and Portfolio Firms' Economic Performance: Independent Versus Corporate Investors," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 26(1), pages 35-66, February.
    9. Jeaneth Johansson & Malin Malmström & Joakim Wincent & Vinit Parida, 2021. "How individual cognitions overshadow regulations and group norms: a study of government venture capital decisions," Small Business Economics, Springer, vol. 56(2), pages 857-876, February.
    10. Amit Bubna & Sanjiv R. Das & Paul Hanouna, 2020. "The Fast and the Curious: VC Drift," Journal of Financial Services Research, Springer;Western Finance Association, vol. 57(1), pages 69-113, February.
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    29. Antretter, Torben & Sirén, Charlotta & Grichnik, Dietmar & Wincent, Joakim, 2020. "Should business angels diversify their investment portfolios to achieve higher performance? The role of knowledge access through co-investment networks," Journal of Business Venturing, Elsevier, vol. 35(5).
    30. Da Rin, M. & Hellmann, T. & Puri, M.L., 2011. "A Survey of Venture Capital Research," Discussion Paper 2011-111, Tilburg University, Center for Economic Research.
    31. Fuerst, Franz & Mansley, Nick & Wang, Zilong, 2021. "Do specialist funds outperform? Evidence from European non-listed real estate funds," Research in International Business and Finance, Elsevier, vol. 58(C).
    32. Annalisa Croce & Luca Grilli & Samuele Murtinu, 2014. "Venture capital enters academia: an analysis of university-managed funds," The Journal of Technology Transfer, Springer, vol. 39(5), pages 688-715, October.
    33. Federico Munari & Martina Pasquini & Laura Toschi, 2015. "From the lab to the stock market? The characteristics and impact of university-oriented seed funds in Europe," The Journal of Technology Transfer, Springer, vol. 40(6), pages 948-975, December.
    34. Anna Kovner & Josh Lerner, 2015. "Doing Well by Doing Good? Community Development Venture Capital," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 24(3), pages 643-663, September.
    35. Sewaid, Ahmed & Parker, Simon C. & Kaakeh, Abdulkader, 2021. "Explaining serial crowdfunders' dynamic fundraising performance," Journal of Business Venturing, Elsevier, vol. 36(4).
    36. Niklas Elert & Magnus Henrekson, 2022. "Collaborative Innovation Blocs and Mission-Oriented Innovation Policy: An Ecosystem Perspective," International Studies in Entrepreneurship, in: Karl Wennberg & Christian Sandström (ed.), Questioning the Entrepreneurial State, pages 345-367, Springer.
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    43. Gejadze, Maia & Giot, Pierre & Schwienbacher, Armin, 2017. "Private equity fundraising and firm specialization," The Quarterly Review of Economics and Finance, Elsevier, vol. 64(C), pages 259-274.
    44. Conti, Annamaria & Dass, Nishant & Di Lorenzo, Francesco & Graham, Stuart J.H., 2019. "Venture capital investment strategies under financing constraints: Evidence from the 2008 financial crisis," Research Policy, Elsevier, vol. 48(3), pages 799-812.
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    47. Elert, Niklas & Henrekson, Magnus & Stenkula, Mikael, 2017. "Institutional Reform for Innovation and Entrepreneurship: An Agenda for Europe," Working Paper Series 1150, Research Institute of Industrial Economics, revised 16 Feb 2017.
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  18. Gompers, Paul & Kovner, Anna & Lerner, Josh & Scharfstein, David, 2008. "Venture capital investment cycles: The impact of public markets," Journal of Financial Economics, Elsevier, vol. 87(1), pages 1-23, January.
    See citations under working paper version above.

Chapters

  1. Henry Chen & Paul Gompers & Anna Kovner & Josh Lerner, 2010. "Buy Local? The Geography of Venture Capital," NBER Chapters, in: Cities and Entrepreneurship, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  2. Paul Gompers & Anna Kovner & Josh Lerner, 2007. "Specialization and Success: Evidence from Venture Capital," NBER Chapters, in: Entrepreneurship: Strategy and Structure, National Bureau of Economic Research, Inc.
    See citations under working paper version above.Sorry, no citations of chapters recorded.
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