Federal Dposit InsuranceCorporation• Center for Financial Researchh
Sanjiv R. Das
Darrell Duffie
Nikunj Kapadia
Risk-Based Capital Standards,
Deposit Insurance and Procyclicality
Risk-Based Capital Standards,
Deposit Insurance and Procyclicality
FDIC Center for Financial Research
Working Paper
No. 2011-02
Anomalies and Financial Distress
April 21, 2010
Empirical Comparisons and Implied Recovery Rates
kkk
An Empirical
An Empirical Analysis
State-
Efraim Benmel Efraim Benmelech May, 2005
June 20
May , 2005 Asset S2005-14
September 2005
Sanjiv R. Das
Darrell Duffie
Nikunj Kapadia
Risk-Based Capital Standards,
Deposit Insurance and Procyclicality
Risk-Based Capital Standards,
Deposit Insurance and Procyclicality
FDIC Center for Financial Research
Working Paper
No. 2011-02
Anomalies and Financial Distress
April 21, 2010
Empirical Comparisons and Implied Recovery Rates
kkk
An Empirical
An Empirical Analysis
State-
Efraim Benmel Efraim Benmelech May, 2005
June 20
May , 2005 Asset S2005-14
September 2005
Anomalies and Financial Distress
Doron Avramov∗
Department of Finance, School of Business
The Hebrew University of Jerusalem
davramov@huji.ac.il
and
R.H. Smith School of Business
University of Maryland
davramov@rhsmith.umd.edu
Tarun Chordia
Department of Finance, Goizueta Business School
Emory University
Tarun Chordia@bus.emory.edu
Gergana Jostova
Department of Finance, School of Business
George Washington University
jostova@gwu.edu
Alexander Philipov
Department of Finance, School of Management
George Mason University
aphilipo@gmu.edu
Revision date: April 21, 2010
∗ We are grateful for financial support from the Federal Deposit Insurance Corporation
(FDIC) Center for Financial Research and the Q-Group. We thank Avanidhar Sub-
rahmanyam, Amit Goyal, Stefan Jacewitz, Michael J. Schill, Cem Demiroglu, Andreas
Schrimpf, and seminar participants at the FDIC, Bar Ilan University, Hebrew Univer-
sity of Jerusalem, Tel Aviv University, Texas A&M University, Koc University, and the
Interdisciplinary Center (IDC) Herzlia for useful comments and suggestions.
Doron Avramov∗
Department of Finance, School of Business
The Hebrew University of Jerusalem
davramov@huji.ac.il
and
R.H. Smith School of Business
University of Maryland
davramov@rhsmith.umd.edu
Tarun Chordia
Department of Finance, Goizueta Business School
Emory University
Tarun Chordia@bus.emory.edu
Gergana Jostova
Department of Finance, School of Business
George Washington University
jostova@gwu.edu
Alexander Philipov
Department of Finance, School of Management
George Mason University
aphilipo@gmu.edu
Revision date: April 21, 2010
∗ We are grateful for financial support from the Federal Deposit Insurance Corporation
(FDIC) Center for Financial Research and the Q-Group. We thank Avanidhar Sub-
rahmanyam, Amit Goyal, Stefan Jacewitz, Michael J. Schill, Cem Demiroglu, Andreas
Schrimpf, and seminar participants at the FDIC, Bar Ilan University, Hebrew Univer-
sity of Jerusalem, Tel Aviv University, Texas A&M University, Koc University, and the
Interdisciplinary Center (IDC) Herzlia for useful comments and suggestions.