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Professor Viral Acharya

C.V. Starr Professor of Economics
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Viral Acharya, C.V. Starr Professor of Economics, Leonard N. Stern School of Business, New York University
ECGI Fellow (2014) :

Biography    
Viral V. Acharya joined New York University Stern School of Business as a Professor of Finance in September 2008. Prior to joining NYU Stern, Professor Acharya was a Professor of Finance and Academic Director of the Private Equity Institute at the London Business School, a Research Affiliate of the Center for Economic Policy Research and an Academic Advisor to the Bank of England. He was appointed Senior Houblon-Normal Research Fellow at the Bank of England to conduct research on efficiency of the inter-bank lending markets for the summer of 2008.

Professor Acharya’s research interests are in the regulation of banks and financial institutions, corporate finance, credit risk and valuation of corporate debt, and asset pricing with a focus on the effects of liquidity risk. He has published articles in the Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Business, Rand Journal of Economics, Journal of Financial Intermediation, Journal of Money, Credit and Banking, and Financial Analysts Journal.

Professor Acharya has received numerous awards and recognition for his research. He received the Best Paper Award in Corporate Finance from the Journal of Financial Economics in 2000, Best Paper Award in Equity Trading at the Western Finance Association Meetings in 2003, Outstanding Referee Award for the Review of Financial Studies in 2003, the inaugural Lawrence G. Goldberg Prize for the Best Ph.D. in Financial Intermediation, Best Paper Award in Asset Pricing from the Journal of Financial Economics in 2005, and an inaugural Rising Star in Finance Award in 2008.

Professor Acharya earned a Bachelor of Technology in Computer Science and Engineering from the Indian Institute of Technology, Mumbai, and a Ph.D. in Finance from New York University Stern School of Business.

Research Interests
Asset pricing with a focus on the effects of liquidity risk
Corporate finance
Credit risk and valuation of corporate debt
International finance
Regulation of banks and financial institutions

ECGI Working Papers (Click title for more details)
The Dark Side of Liquidity Creation: Leverage and Systemic Risk ECGI Finance Working Paper 445/2015 June 2017
A Theory of Income Smoothing When Insiders Know More Than Outsiders ECGI Finance Working Paper 401/2014 January 2014
Financial Dependence and Innovation: The Case of Public versus Private Firms ECGI Finance Working Paper 400/2014 January 2014
Competition for Managers, Corporate Governance and Incentive Compensation ECGI Finance Working Paper 399/2014 December 2013
Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent ECGI Finance Working Paper 398/2014 December 2013
Caught between Scylla and Charybdis? Regulating Bank Leverage When There is Rent Seeking and Risk Shifting ECGI Finance Working Paper 365/2013 September 2015
The Internal Governance of Firms ECGI Finance Working Paper 239/2009 May 2009
Private Equity vs PLC Boards in the U.K.: A Comparison of Practices and Effectiveness ECGI Finance Working Paper 233/2009 August 2008
Corporate Governance and Value Creation: Evidence from Private Equity ECGI Finance Working Paper 232/2009 January 2009
Corporate Governance Externalities ECGI Finance Working Paper 195/2008 November 2007 Joint winner of the 2008 ECGI Best Paper Competition

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