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. 2010-09
The Effect of Banking Crisis on Bank-Dependent Borrowers
May 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. 2010-09
The Effect of Banking Crisis on Bank-Dependent Borrowers
May 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
The Effect of Banking Crisis on
Bank-Dependent Borrowers1
by
Sudheer Chava and Amiyatosh Purnanandam2
May 12, 2010
1We are grateful to an anonymous referee, Viral Acharya, Adam Ashcraft, Kerry Back, Sreed-
har Bharath, Ran Duchin, Tom George, Todd Gormley, John Graham, Charles Hadlock, Andrew
Hertzberg, Shane Johnson, Steve Kaplan, Anil Kashyap, Han Kim, Dmitry Livdan, Paolo Pasquar-
iello, Uday Rajan, Michael Roberts, Anthony Saunders, Philip Strahan, Amir Sufi, Bhaskaran
Swaminathan, Sheridan Titman, Haluk Unal, Toni Whited, Andrew Winton, Luigi Zingales, and
seminar participants at Arizona State University, Michigan State University, Rice University, Texas
A&M University, University of Illinois at Urbana-Champaign, University of Maryland, Univer-
sity of Miami, University of Minnesota, University of Texas at Austin, University of Washington,
St.Louis, European Finance Association’s 2006 meetings in Zurich, FDIC, FDIC-CFR Conference,
42nd Bank Structure Conference at Federal Reserve Bank of Chicago, Federal Reserve Bank of New
York, Financial Intermediation Research Society’s meetings in Shanghai, Systemic Risk Conference
at Federal Reserve Bank of Atlanta, and Western Finance Association’s 2006 meetings in Keystone
for helpful comments. Financial support from FDIC’s Center for Financial Research is gratefully
acknowledged. Chava gratefully acknowledges financial support from Mays Research Fellowship
and Gina and William H. Flores Fellowship.
2Chava is from the Mays School of Business, Texas A&M University; e-mail:
schava@mays.tamu.edu. Purnanandam is from Ross School of Business, University of Michigan;
e-mail:amiyatos@umich.edu.
Bank-Dependent Borrowers1
by
Sudheer Chava and Amiyatosh Purnanandam2
May 12, 2010
1We are grateful to an anonymous referee, Viral Acharya, Adam Ashcraft, Kerry Back, Sreed-
har Bharath, Ran Duchin, Tom George, Todd Gormley, John Graham, Charles Hadlock, Andrew
Hertzberg, Shane Johnson, Steve Kaplan, Anil Kashyap, Han Kim, Dmitry Livdan, Paolo Pasquar-
iello, Uday Rajan, Michael Roberts, Anthony Saunders, Philip Strahan, Amir Sufi, Bhaskaran
Swaminathan, Sheridan Titman, Haluk Unal, Toni Whited, Andrew Winton, Luigi Zingales, and
seminar participants at Arizona State University, Michigan State University, Rice University, Texas
A&M University, University of Illinois at Urbana-Champaign, University of Maryland, Univer-
sity of Miami, University of Minnesota, University of Texas at Austin, University of Washington,
St.Louis, European Finance Association’s 2006 meetings in Zurich, FDIC, FDIC-CFR Conference,
42nd Bank Structure Conference at Federal Reserve Bank of Chicago, Federal Reserve Bank of New
York, Financial Intermediation Research Society’s meetings in Shanghai, Systemic Risk Conference
at Federal Reserve Bank of Atlanta, and Western Finance Association’s 2006 meetings in Keystone
for helpful comments. Financial support from FDIC’s Center for Financial Research is gratefully
acknowledged. Chava gratefully acknowledges financial support from Mays Research Fellowship
and Gina and William H. Flores Fellowship.
2Chava is from the Mays School of Business, Texas A&M University; e-mail:
schava@mays.tamu.edu. Purnanandam is from Ross School of Business, University of Michigan;
e-mail:amiyatos@umich.edu.