Amiyatosh Purnanandam

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Employment: Ross School of Business, University of Michigan, 2004-Present.


  1. Cornell University: M.S. (2003), Ph.D. (2005).
  2. IIM, Lucknow, India: Post Graduate Diploma in Management (MBA), 1995
  3. IIT, Kharagpur, India: B.Tech. in Electrical Engineering, 1993

Research Interests: Corporate Finance, Banking, Credit Risk and Investments.

Recent Working Papers:

  1. "Design of Financial Securities: Empirical Evidence from Private-Label RMBS Deals", with Taylor Begley

  2. "Can Markets Discipline Government Agencies? Evidence from the Weather Derivatives Market", with Daniel Weagley

  3. "Growth Option Exercise and Capital Structure", with Uday Rajan

  4. "Risk-Taking by Banks: What Did We Know and When Did We Know It? ", with Sugato Bhattacharyya

Main Publications/ Forthcoming Papers:

  1. "Seasoned Equity Offerings, Corporate Governance, and Investments", with Han Kim
    Review of Finance, forthcoming.

  2. "Originate-to-Distribute Model and the Sub-prime Mortgage Crisis"
    Review of Financial Studies, 2011, 24, 1881-1915.

  3. "The effect of banking crisis on bank-dependent borrowers", with Sudheer Chava
    Journal of Financial Economics, 2011, 99, 116-135.

  4. "CEOs vs. CFOs: Incentives and Corporate Policies", with Sudheer Chava
    Journal of Financial Economics, 2010, 97, 263-278.

  5. "Is Default Risk Negatively Related to Stock Returns?", with Sudheer Chava
    Review of Financial Studies, 2010, 23, 2523-2559.

  6. "Do Shareholders Rights Affect the Cost of Bank Loans?", with Sudheer Chava and Dmitri Livdan
    Review of Financial Studies, 2009, 22, 2973-3004.

  7. "Financial Distress and Corporate Risk Management: Theory & Evidence"
    Journal of Financial Economics, 2008, 87, 706-739.

  8. "Interest Rate Derivatives at Commercial Banks: An Empirical Investigation",
    Journal of Monetary Economics, 2007, 54, 1769-1808.

  9. "Determinants of the Floating-to-Fixed Rate Debt Structure of Firms", with Sudheer Chava
    Journal of Financial Economics, 2007, 85, 755-786.

  10. "Are IPOs Really Underpriced?", with Bhaskaran Swaminathan.
    Review of Financial Studies, 2004, 17, 811-848.


  1. Journal of Financial Intermediation, Associate Editor, 2013-Present.
  2. International Review of Finance, Associate Editor, 2008-Present.


  1. Valuation (advanced corporate finance class) for MBAs.
  2. Introductory corporate finance for PhDs.
  3. Research Methods in corporate finance for PhDs.
  4. Core finance class for MBAs.

Representative Media coverage
  1. Selected press articles

Contact Address: R5436, 701 Tappan Street, Ross School of Business, University of Michigan, Ann Arbor,MI 48109
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Last Modified: July, 2014