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The internal governance of firms
Acharya, Viral V.; Myers, Stewart C.; Rajan, Raghuram Govind - 2009
"We develop a model of internal governance where the self-serving actions of top management are limited by the potential reaction of subordinates. Internal governance can mitigate agency problems and ensure that firms have substantial value, even with little or no external governance by...
Persistent link: https://www.econbiz.de/10003913453
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Rollover risk and market freezes
Acharya, Viral V.; Gale, Douglas; Yorulmazer, Tanju - 2010
"The crisis of 2007-09 has been characterized by a sudden freeze in the market for short-term, secured borrowing. We present a model that can explain a sudden collapse in the amount that can be borrowed against finitely-lived assets with little credit risk. The borrowing in this model takes the...
Persistent link: https://www.econbiz.de/10003931359
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Creditor rights and corporate risk-taking
Acharya, Viral V.; Ahmihud, Yakov; Litov, Lubomir - 2009
Persistent link: https://www.econbiz.de/10003916147
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Are banks passive liquidity backstops? : deposit rates and flows during the 2007-2009 crisis
Acharya, Viral V.; Mora, Nada - 2012
Persistent link: https://www.econbiz.de/10009506561
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Cash holdings and credit risk
Acharya, Viral V.; Davydenko, Sergei A.; Strebulaev, Ilya A. - 2011
liquidity may be related positively to the longer-term probability of default. Our empirical analysis confirms these predictions …
Persistent link: https://www.econbiz.de/10009009580
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Sovereign debt, government myopia, and the financial sector
Acharya, Viral V.; Rajan, Raghuram Govind - 2011
Persistent link: https://www.econbiz.de/10009377234
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The anatomy of the transmission of macroprudential policies
Acharya, Viral V.; Bergant, Katharina; Crosignani, Matteo; … - 2020
Persistent link: https://www.econbiz.de/10012240277
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Monetary easing, leveraged payouts and lack of investment
Acharya, Viral V.; Plantin, Guillaume - 2019
Persistent link: https://www.econbiz.de/10012166198
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Asset pricing with liquidity risk
Acharya, Viral V.; Pedersen, Lasse Heje - 2004
Persistent link: https://www.econbiz.de/10002367586
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Liquidity risk of corporate bond returns
Acharya, Viral V.; Amihud, Yakov; Bharath, Sreedhar T. - 2010
"We study the exposure of the U.S. corporate bond returns to liquidity shocks of stocks and treasury bonds over the … period 1973 to 2007. A decline in liquidity of stocks or Treasury bonds produces conflicting effects: Prices of investment … default). Our findings suggest the existence of time-varying liquidity risk of corporate bond returns and episodes of flight …
Persistent link: https://www.econbiz.de/10008666982