Amiyatosh Purnanandam

Download Resume

Bank Failure Risk Index (Based on the Bank Failure Model of My paper in the Journal of Monetary Economics).
A short explanation of this index.

Education

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 and Investments.

Main Publications/ Forthcoming Papers:

1. "Do Shareholders Rights Affect the Cost of Bank Loans?", with Sudheer Chava and Dmitri Livdan
   Forthcoming, Review of Financial Studies.
   
   
2. "Financial Distress and Corporate Risk Management: Theory & Evidence"
   Forthcoming, Journal of Financial Economics.
   
   
3. "Interest Rate Derivatives at Commercial Banks: An Empirical Investigation",
   Earlier version was titled "Interest Rate Risk-Management at Commercial Banks: An Empirical Investigation"
   2007, Journal of Monetary Economics, 54, 1769-1808.
   
   
4. "Determinants of the Floating-to-Fixed Rate Debt Structure of Firms", with Sudheer Chava
   2007, Journal of Financial Economics, 85, 755-786.
   
   
5. "Are IPOs Really Underpriced?", with Bhaskaran Swaminathan.
   2004, Review of Financial Studies, 17(3), 811-848.
   
   

Working Papers (Comments welcome):

1. "Is Default Risk Negatively Related to Stock Returns?", with Sudheer Chava
   
   
2. "The Effect of Banking Crisis on Bank-Dependent Borrowers", with Sudheer Chava
   
   
3. "Corporate Hedging, Investment and Value", with Jose Berrospide and Uday Rajan
   
   
4. "CEOs vs. CFOs: Incentives and Corporate Policies", with Sudheer Chava
   
   
5. "Shorts and Insiders", with Nejat Seyhun
   
   
6. "Do Stock Prices Underreact to SEO Announcements? Evidence from SEO Valuation", with Bhaskaran Swaminathan
   
   
7. "Underwriter Manipulation in IPOs", with Rajesh Aggarwal and Guojun Wu (Paper is under major revision. Please email-me if you need a copy.)
   
   
8. "Why Do Investors React Negatively to Seasoned Equity Offerings?", with Han Kim (Paper is under major revision. Please email-me if you need a copy.)
   
   

Other Papers (Invited articles, shorter papers)

1. "The valuation of a Firm's Investment Opportunities: A Reduced Form Credit Risk Perspective", with Robert Jarrow.
   Forthcoming in Review of Derivatives Research.
   
   
2. "A generalized coherent risk measure: The firm's perspective", with Robert Jarrow.
   2005, Finance Research Letters, 2, 23-29.
   
   
3. "Market Pricing of Deposit Insurance", with Darrell Duffie, Robert Jarrow and Wei Yang.
   2003, Journal of Financial Services Research, 24, 93-119.
   
   
4. Incorporating Diversification into Risk Management, with Mitch Warachka, Y. Zhao and W.T. Ziemba. Published in Risk and Portfolio Management: The New Frontier. John Wiley and Sons 2006. Edited by Greg N. Gregoriou.