Amiyatosh Purnanandam

Detailed PDF version of the Curriculum Vitae (PDF 53k)
 
Academic Appointments
Stephen M. Ross School of Business, University of Michigan
Michael Stark Professor of Finance, 2018-Present
Professor of Finance, 2014-Present
Associate Professor of Finance, 2010-2014
Assistant Professor of Finance, 2004-2010

Education
Cornell University - Ithaca, 1999-2005
Ph.D. in Finance, 2005
M.S., 2003

Indian Institute of Management - Lucknow, 1993-1995 
PGDM (MBA), 1995 

Indian Institute of Technology - Kharagpur, 1989-1993 
B.Tech. (Electrical Engineering), 1993 

Research Interests

  1. Banking: Banking and Real Economy, Measurement & Monitoring of Risk in Banks, Bank Loans.
  2. Mortgage & Real Estate Finance: Subprime crisis, RMBS Market, Racial Differences in Mortgage Market.
  3. Corporate Finance: Risk Management, IPOs & SEOs, Capital Structure, Security Design.
  4. Credit Risk: Default risk and security returns, Modeling of credit risk.

Recent Working Papers:

  1. "Judging Bank Risk by the Profits They Report", with Ben Meiselman and Stefan Nagel

  2. "Disaster Lending: "Fair Prices", but "Unfair Access"", with Taylor Begley, Umit Gurun, and Daniel Weagley

  3. "Color and Credit: Race, Regulation, and the Quality of Financial Services", with Taylor Begley

  4. "A System-wide Approach to Measure Connectivity in the Financial Sector", with Sumanta Basu, Sreyoshi Das, and George Michailidis

  5. "Bank Risk Dynamics and Distance-to-Default", with Stefan Nagel

Publications/ Forthcoming Papers:

  1. "Growth Option Exercise and Capital Structure", with Uday Rajan
    Review of Finance, 2018, 207-241.

  2. "The Strategic Under-reporting of Bank Risk", with Taylor Begley and KC Zheng
    Review of Financial Studies, 2017, 30, 3376-3415.

  3. "Design of Financial Securities: Empirical Evidence from Private-Label RMBS Deals", with Taylor Begley
    Review of Financial Studies, 2017, 30, 120-161.

  4. "Do Short Sellers Trade on Private Information or False Information", with Nejat Seyhun
    Journal of Financial & Quantitative Analysis, forthcoming.

  5. "Can Markets Discipline Government Agencies? Evidence from the Weather Derivatives Market", with Daniel Weagley
    Journal of Finance, 2016, 71, 303-334.

  6. "Seasoned Equity Offerings, Corporate Governance, and Investments", with Han Kim
    Review of Finance, 2014, 18, 1023-1057.

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

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

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

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

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

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

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

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

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

  16. "Market Pricing of Deposit Insurance", with Darrell Duffie, Robert Jarrow, and Wei Yang.
    Journal of Financial Services Research, 2003, 24, 93-119.

Editorship:

  1. Review of Finance, Editor, June 2017 -.
  2. Review of Finance, Associate Editor, 2017.
  3. Journal of Banking and Finance, Associate Editor, 2017-.
  4. Review of Financial Studies, Associate Editor, 2015-2018.
  5. Journal of Financial Intermediation, Associate Editor, 2013-.
  6. International Review of Finance, Associate Editor, 2008-.

Teaching:

  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.