{"id":333,"date":"2020-07-01T20:23:20","date_gmt":"2020-07-01T20:23:20","guid":{"rendered":"http:\/\/vivashina.com\/?page_id=333"},"modified":"2022-03-11T15:53:00","modified_gmt":"2022-03-11T15:53:00","slug":"research","status":"publish","type":"page","link":"http:\/\/vivashina.com\/?page_id=333","title":{"rendered":"Research"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.4.4″ background_color=”#52c5c7″ custom_margin=”0px||0px||false|false” custom_padding=”20px||16px||false|false”][et_pb_row _builder_version=”4.4.4″ custom_margin=”||||false|false” custom_padding=”20px||10px||false|false”][et_pb_column type=”4_4″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.4″ header_font=”Libre Franklin|700|||||||” header_text_color=”#ffffff” header_font_size=”36px” custom_margin=”0px||0px||false|false” custom_padding=”0px||0px||false|false”]<\/p>\n

Academic Research<\/h1>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.4.4″ background_color=”rgba(0,0,0,0)” custom_margin=”||||false|false” custom_padding=”10px||10px||false|false”][et_pb_row _builder_version=”4.4.4″ custom_margin=”||||false|false” custom_padding=”20px||10px||false|false”][et_pb_column type=”4_4″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.4″ header_font=”Libre Franklin|700|||||||” header_text_color=”#52c5c7″ custom_margin=”||||false|false”]<\/p>\n

Debt Markets<\/b><\/span><\/h1>\n
\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.4.4″ custom_padding=”10px||||false|false”][et_pb_column type=”4_4″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.4″ text_line_height=”1.8em” custom_padding=”||10px||false|false” hover_enabled=”0″]<\/p>\n

“High-Yield Debt Covenants and Their Real Effects”\u00a0<\/strong>(with Falk Br\u00e4uning and Ali K. Ozdagli), Working Paper\u00a0https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3979835<\/a><\/p>\n

\u201cBank Balance Sheet Constraints and Bond Liquidity\u201d<\/strong> (with J. Breckenfelder), Working Paper
https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3858543<\/a><\/p>\n

\u201cWeak Corporate Insolvency Rules: The Missing Driver of Zombie Lending\u201d <\/b>(with B. Becker),<\/b> American Economics Review<\/i> (Papers and Proceedings), 2022, forthcoming.<\/p>\n

\u201cLoan Types and the Banking Lending Channel\u201d<\/strong> (with Luc Laeven and E. Moral-Benito), Journal of Monetary Economics<\/em>, 2022 (126): 171-187.
https:\/\/www.nber.org\/papers\/w27056<\/a><\/p>\n

\u201cDisruption and Credit Markets\u201d<\/strong> (with B. Becker), Journal of Finance<\/em>, 2022, forthcoming
https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3327798<\/a><\/p>\n

\u201cLarge Banks and Small Firm Lending\u201d<\/strong> (with V. Bord and R. Taliaferro), Journal of Financial Intermediation<\/em>, 2021 (48)
https:\/\/www.nber.org\/papers\/w25184<\/a><\/p>\n

\u201cFinancial Repression in the European Sovereign Debt Crisis\u201d<\/strong> (with B. Becker), Review of Finance<\/i>, 2018 (1): 83-115
https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2429767<\/a><\/p>\n

\u201cReaching for Yield in the Bond Market\u201d<\/strong> (with B. Becker), Journal of Finance<\/i>, 2015 (70): 1863\u20131902
https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2429767<\/a><\/p>\n

\u201cCyclicality of Credit Supply: Firm Level Evidence\u201d<\/strong> (with B. Becker), <\/b>Journal of Monetary Economics, <\/i>2014 (62): 76\u201393
https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=1572699<\/a><\/p>\n

\u201cBank Lending during the Financial Crisis of 2008\u201d<\/strong> (with D. Scharfstein), Journal of Financial Economics<\/i>, 2010 (97): 319\u2013338
https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=1297337<\/a><\/p>\n

\u201cTrade Creditor\u2019s Information Advantage\u201d<\/strong> (with B. Iverson), Working Paper
https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3108646<\/a><\/p>\n

\u201cThe Ownership and Trading of Debt Claims in Chapter 11 Restructurings\u201d<\/strong> (with B. Iverson and D. Smith), Journal of Financial Economics<\/i>, 2016 (119): 316\u2013335
https:\/\/www.hbs.edu\/faculty\/Publication%20Files\/IIS_Draft_20150313_bc5b20d6-73c7-404b-be75-860ef8937099.pdf<\/a><\/p>\n

\u201cBank Debt and Corporate Governance\u201d<\/strong> (with V. Nair, A. Saunders, N. Massoud, and R. Stover), Review of Financial Studies, <\/i>2008 (22): 41\u201377
https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=557082<\/a><\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.4.4″ text_line_height=”1.8em” header_3_text_color=”#3589b9″]<\/p>\n

<\/h3>\n

Leveraged Loan Market, and Syndication and Securitization in the Corporate Loan Market<\/b><\/h3>\n

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\u201cWeak Covenants\u201d<\/strong> (with B. Vallee), Working Paper
\nhttps:\/\/www.hbs.edu\/faculty\/Publication%20Files\/Ivashina_Vallee_december18_4b535150-5605-418d-8600-63908f6103ad.pdf<\/a><\/p>\n

\u201cCovenant-Light Contracts and Creditor Coordination\u201d<\/strong> (with B. Becker), Working Paper
\nhttps:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2756926<\/a><\/p>\n

\u201cSecuritization without Adverse Selection: The Case of CLOs\u201d<\/strong> (with E. Benmelech and J. Dlugosz), Journal of Financial Economics<\/i>, 2012 (106): 91\u2013113
\nhttps:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=1344068<\/a><\/p>\n

\u201cInstitutional Stock Trading on Loan Market Information\u201d<\/strong> (with Z. Sun), Journal of Financial Economics<\/i>, 2011 (100): 284\u2013303.
\nhttps:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=972044<\/a><\/p>\n

\u201cInstitutional Demand Pressure and the Cost of Corporate Loans\u201d<\/strong> (with Z. Sun), Journal of Financial Economics<\/i>, 2011 (99): 500\u2013522
\nhttps:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=1299300<\/a><\/p>\n

\u201cLoan Syndication and Cyclicality\u201d<\/strong> (with D. Scharfstein), American Economics Review<\/i> (Papers and Proceedings), 2010 (100): 57\u201361
\nhttps:\/\/www.hbs.edu\/faculty\/Publication%20Files\/Loan%20Syndication%20and%20Credit%20Cycles_6e25b50e-7463-43f2-b59a-f2305846d51d.pdf<\/a><\/p>\n

\u201cAsymmetric Information Effects on Loan Spreads,\u201d<\/strong> Journal of Financial Economics<\/i>, 2009 (92): 300\u2013319.
\nhttps:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=849726<\/a><\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.4.4″ text_line_height=”1.8em” header_3_text_color=”#3589b9″ custom_margin=”40px||||false|false”]<\/p>\n

<\/h3>\n

Global Banks and Dollar-Denominated Credit <\/b><\/h3>\n

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\u201cWhy is Dollar Debt Cheaper?\u201d<\/strong> (with B. Guti\u00e9rrez and J. Salomao), Working Paper
\nhttps:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3599475<\/a><\/p>\n

\u201cMonetary Policy and Global Banking\u201d<\/strong> (with F. Br\u00e4uning), Journal of Finance<\/i>, forthcoming
\nhttps:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2801304<\/a><\/p>\n

\u201cU.S. Monetary Policy and Emerging Market Credit Cycles\u201d<\/strong> (with F. Br\u00e4uning), Journal of Monetary Economics<\/i>, forthcoming
\nhttps:\/\/www.hbs.edu\/faculty\/Publication%20Files\/US%20Monetary%20policy%20NBER%20working%20paper_a9062fb4-13f5-4586-8160-21114988d4ca.pdf<\/a><\/p>\n

\u201cDollar Funding and the Lending Behavior of Global Banks\u201d<\/strong> (with D. Scharfstein and J. Stein), Quarterly Journal of Economics<\/i>, 2015 (130): 1241\u20131281
\nhttps:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2196973<\/a><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.4.4″ background_color=”#eaf5f9″ custom_margin=”||||false|false” custom_padding=”10px||36px||false|false”][et_pb_row _builder_version=”4.4.4″ custom_margin=”||||false|false” custom_padding=”20px||10px||false|false”][et_pb_column type=”4_4″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.4″ header_font=”Libre Franklin|700|||||||” header_text_color=”#52c5c7″ custom_margin=”||||false|false”]<\/p>\n

Private Equity and Alternative Investments<\/b><\/span><\/h1>\n
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[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.4.4″ custom_padding=”10px||||false|false”][et_pb_column type=”4_4″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.4″ text_line_height=”1.8em”]<\/p>\n

\u201cNo Alternatives: <\/span>Pension Investments around the World, 2008 to 2017\u201d<\/strong> (with J. Lerner)<\/p>\n

\u201cDisruption and Credit Markets<\/span>\u201d<\/strong> (with B. Becker), Journal of Finance<\/em>, 2022, forthcoming<\/p>\n

\u201cPay Now or Pay Later?: The Economics and Performance of the Private Equity Partnership\u201d<\/strong> (with J. Lerner), Journal of Financial Economics<\/i>, 2019 (131): 61-87
\nhttps:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=2757039<\/a><\/p>\n

\u201cThe Disintermediation of Financial Markets: Direct Investing in Private Equity\u201d<\/strong> (with L. Fang and J. Lerner), Journal of Financial Economics<\/i>, 2015 (116): 160\u2013178
\nhttps:\/\/www.hbs.edu\/faculty\/Publication%20Files\/Draft_20140903%20ssrn_993c7c8c-0206-4475-8d89-06746f288bdf.pdf<\/a><\/p>\n

\u201cCombining Banking with Private Equity Investing\u201d<\/strong> (with L. Fang and J. Lerner), Review of Financial Studies<\/i>, 2013 (26): 2137\u20132173
\nhttps:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=1571921<\/a><\/p>\n

\u201cThe Private Equity Advantage: Leveraged Buyout Firms and Relationship Banking\u201d<\/strong> (with A. Kovner), Review of Financial Studies<\/i>, 2011 (24): 2462\u20132498
\nhttps:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=1017857<\/a><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.4.4″ custom_margin=”0px||0px||false|false” custom_padding=”0px||20px||false|false” border_width_top=”1px” border_color_top=”#52c5c7″ border_width_bottom=”1px” border_color_bottom=”#52c5c7″ global_module=”192″ saved_tabs=”all”][et_pb_row column_structure=”1_3,1_3,1_3″ _builder_version=”4.4.4″][et_pb_column type=”1_3″ _builder_version=”4.4.4″][et_pb_image src=”http:\/\/vivashina.com\/wp-content\/uploads\/2020\/06\/logotype.png” alt=”Victoria Ivashina” title_text=”logotype” url=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoiaG9tZV91cmwiLCJzZXR0aW5ncyI6e319@” _builder_version=”4.4.4″ _dynamic_attributes=”url”][\/et_pb_image][et_pb_text _builder_version=”4.4.4″ text_font_size=”13px” text_line_height=”0.7em”]<\/p>\n

(617) 495-8018<\/span><\/p>\n

Send Email<\/a><\/strong><\/p>\n

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\u00a9 Copyright Victoria Ivashina 2022<\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.4.4″ background_color=”#52c5c7″ custom_margin=”0px||0px||false|false” custom_padding=”20px||16px||false|false”][et_pb_row _builder_version=”4.4.4″ custom_margin=”||||false|false” custom_padding=”20px||10px||false|false”][et_pb_column type=”4_4″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.4″ header_font=”Libre Franklin|700|||||||” header_text_color=”#ffffff” header_font_size=”36px” custom_margin=”0px||0px||false|false” custom_padding=”0px||0px||false|false”] Academic Research [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.4.4″ background_color=”rgba(0,0,0,0)” custom_margin=”||||false|false” custom_padding=”10px||10px||false|false”][et_pb_row _builder_version=”4.4.4″ custom_margin=”||||false|false” custom_padding=”20px||10px||false|false”][et_pb_column type=”4_4″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.4″ header_font=”Libre Franklin|700|||||||” header_text_color=”#52c5c7″ custom_margin=”||||false|false”] Debt Markets [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.4.4″ custom_padding=”10px||||false|false”][et_pb_column type=”4_4″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.4″ text_line_height=”1.8em” custom_padding=”||10px||false|false” hover_enabled=”0″] “High-Yield Debt Covenants and Their Real Effects”\u00a0(with Falk […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-333","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"http:\/\/vivashina.com\/index.php?rest_route=\/wp\/v2\/pages\/333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/vivashina.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/vivashina.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/vivashina.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/vivashina.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=333"}],"version-history":[{"count":50,"href":"http:\/\/vivashina.com\/index.php?rest_route=\/wp\/v2\/pages\/333\/revisions"}],"predecessor-version":[{"id":753,"href":"http:\/\/vivashina.com\/index.php?rest_route=\/wp\/v2\/pages\/333\/revisions\/753"}],"wp:attachment":[{"href":"http:\/\/vivashina.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}