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Publications | Working Papers | Research in Progress | Presentations

 Google Scholar Page for S. Viswanathan

Current Working Papers

Financial Intermediary Capital (with Adriano Rampini). [PDF]

Household Risk Management (with Adriano Rampini). [PDF]

Publications

The links below are to the relevant websites that carry the paper and is done to facilitate access. Access to the website may require appropriate authorization from the publisher of the journal.

Rampini A., A. Sufi and S. Viswanathan, 2013, Dynamic Risk Management, forthcoming, Journal of Financial Economics. [PDF]

Rampini, A. and S. Viswanathan, 2013, Collateral and Capital Structure, 109, 466-492, Journal of Financial Economics. [PDF]

Acharya, V. and S. Viswanathan, 2011, Leverage, Moral Hazard and Liquidity, Journal of Finance, 66, 99-138.[PDF]

Rampini, A. and S. Viswanathan, 2010, Collateral, Risk Management and the Distribution of Debt Capacity, Journal of Finance, 65, 2293-2322. [PDF]

Hameed, A., W. Kang and S. Viswanathan, Market Declines and Liquidity, 2009, Journal of Finance, 65, 257-294.[PDF]

Carlin, B., F. Dorabantu and S. Viswanathan, 2009, Public Trust, the Law and Financial Investment, 92, 321-341 (LEAD ARTICLE), Journal of Financial Economics. [PDF]

Kyle, A. S. and S. Viswanathan, 2008, How to Define Illegal Price Manipulation, 98, 274-279, American Economic Review Papers and Proceedings. [PDF]

Viswanathan, S. and Bin Wei, 2008, Endogenous Events and Long Run Returns, 21(2), 855-888, Review of Financial Studies. [PDF]

Brusco, S., G. Lopomo, D. Robinson and S. Viswanathan, 2007, Efficient Mechanisms for Mergers and Acquisitions, International Economic Review, 48, 995-1035.. [PDF]

Carlin, B., M. Lobo and S. Viswanathan, 2006, Episodic Liquidity Crisis: Cooperative and Predatory Trading, 2007, Journal of Finance, 62, 2235-2274. [PDF]

Rhodes-Kropf, M., David Robinson, S. Viswanathan, 2005, Valuation Waves and Merger Activity: The Empirical Evidence, Journal of Financial Economics, 77, 567-603. [PDF]

Rhodes-Kropf, M. and S. Viswanathan, 2005, Financing Auction Bids, Rand Journal of Economics, 36, 789-815 . [PDF]

Rhodes-Kropf, M. and S. Viswanathan, 2004, Market Valuation and Merger Waves, Journal of Finance, 59, 2685-2718.. [SSRN]

Viswanathan , S. and J. Wang, 2004, Inter-Dealer  Trading  In Financial Markets, 77, Journal of Business . [PDF]

Viswanathan , S. and J. Wang, 2002, Market Architecture: Limit Order Books  Versus Dealership Markets, 5, 127-168, Journal of Financial Markets . [PDF]

Bagnoli , M., S.  Viswanathan, C. Holden, 2000, On  The Existence of Linear  Equilibria in Models of Market Making, 11, 1-31, Mathematical Finance. [PDF]

Rhodes- Kropf , M. and S.  Viswanathan , 2000, Corporate Re-organizations and Non-Cash Auctions, Journal of Finance, 55, 1807-1854. [PDF]

Naik , N., A. Neuberger and S.  Viswanathan, 1999, Trade Disclosure Regulation In  Markets With  Negotiated , Review of Financial Studies, 12, 873-900. [PDF]

Hansch , O.,  N.  Naik and S.  Viswanathan, 1999, Best Execution, Internalization,  Preferencing and Dealer  Profits, Journal of Finance, 54, 1799-1828. [PDF]

Hansch , O., N.  Naik and S.  Viswanathan, 1998, Do Inventories Matter in Dealership Markets? Evidence From The  London Stock Exchange, Journal of Finance, 53, 1623-1656. [PDF]

Foster, F.D., and S.  Viswanathan, 1996, Strategic Trading When Agents Forecast the Forecast of Others, Journal of Finance, 51, 1437-1478. [PDF]

Foster, F.D., and S.  Viswanathan, 1995, Can Speculative Trading Explain the Volume-Volatility Relation? , Journal of Business and Economic Statistics, 13, 379-396. 

Viswanathan , S., 1995, A Multiple  Signalling Model of Corporate Financial Policy, Research in Finance, 12, 1-35.

Foster, F.D., and S.  Viswanathan, 1994, Trading Costs for Target Firms Around Takeovers, Advances in Financial Economics, 1, 37-57.

Foster, F.D., and S.  Viswanathan, 1994, Strategic Trading With Asymmetrically Informed Traders and Long-Lived Information, Journal of Finance and Quantitative Analysis, 29, 499-518. [PDF]

K. F.  McCardle and S.  Viswanathan, 1994,  The Direct Entry Versus Takeover Decision and Stock Price Performance  Around Takeovers, Journal of Business, 67, 1-43. [PDF]

Bansal , R. , D . Hsieh and  S.  Viswanathan, 1993, A New Approach to International Arbitrage Pricing, Journal of Finance, 48, 1719-47. [PDF]

Bansal , R. and  S.  Viswanathan, 1993, No Arbitrage and Arbitrage Pricing: A New Approach, Journal of Finance, 48, 1231-62. [PDF]

Foster, F.D., and S.  Viswanathan, 1993, Variations in Trading Volume, Return Volatility and Trading Costs: Evidence on Recent Price Formation Models, Journal of Finance , 48, 187-211. [PDF]

Foster, F.D., and S.  Viswanathan, 1993, The Effect of Public Information and Competition on Trading Volume and Price Volatility, Review of Financial Studies, 6, 23-56. [PDF]

Foster, F.D., and S.  Viswanathan, 1990, A Theory of  Interday Variations in Volumes, Variances and Trading Costs in Securities Markets, Review of Financial Studies, 4, 595-624. [PDF]

Older Working Papers

Costly Collateral and Liquidity (with Ravi Anshuman).

Optimal Bidding in Multi-Unit Discriminatory Auctions (with Jim Wang and Tom Witelski) , revise and resubmit, Journal of Economic Theory .

Why Do Firms Hedge? An Asymmetric Information Model (with Doug Breeden), revise and resubmit, Review  of Financial Studies .

Auctions With When Issued Trading: A Model of the  U.S. Treasury Markets (with Jim Wang).

A Characterization of Multidimensional Signaling.

Invited Keynote Talks

Banque de France and CREST conference on market microstructure, May 7th 2006

Presentations

Household Risk Management

 

June 2013, Western Finance Association Meeting, Lake Tahoe, CA

April 2013, University of California at Berkeley, Berkeley, CA

January 2012, American Economic Association Meetings, Chicago, IL

 

Dynamic Risk Management

 

July 2012, EFFSM, Gerzensee, Switzerland

July 2011, NBER Summer Corporate Finance Meetings

 

Financial Intermediary Capital

 

April 2013, Stanford University, Stanford, CA

April 2013, Federal Reserve Bank of San Francisco, San Francisco, CA

January 2013, American Finance Association Meetings, San Diego, IL

January 2012, American Economic Association Meetings, Chicago, IL

December 2011, University of Mannheim, Mannheim, Germany

November 2011, University of California at Berkeley, Berkeley, CA

October 2011, FARFE Conference in honor of Steve Ross, Boston, MA

June 2011, WFA Meetings, Santa Fe, New Mexico

December 2010, First Tel Aviv University Conference

November 2010, Federal Reserve Bank of New York

 

 

Collateral and Capital Structure

 

April 2012, MIT Sloan

March 2012, Emory University

April 2011, Yale University

January 2011, AFA Meetings at Denver

April 2010, Ross School of Business, University of Michigan

March 2010, Second UBC Winter Conference, Whistler, British Columbia

February 2010, Anderson School of Management, UCLA

January 2010, AEA Meetings, Atlanta, Georgia

December 2009, McIntire School, University of Virginia

July 2009 EFFSM, Gerzensee, Switzerland

July 2009 Society for Economic Dynamics conference, Istanbul, Turkey

March 2009 NBER Corporate Finance Meetings, March 2009, Chicago IL

 

Collateral, Risk Management and the Distribution of Debt Capacity

 

July 2009 European Summer Symposium in Financial Markets, Gerzensee, Switzerland

May 2009 FIRS Conference, Prague, Czech Republic.

March 2009 Smith School, University of Maryland

January 2009 AEA Meetings San Francisco

December 2008 Ohio State University

September 2008 University of Illinois

July 2008 Society for Economic Dynamics Conference, Boston, MA

July 2008 NBER Conference on Capital Markets and the Economy, Boston, MA

June 2008 London School of Economics, First Paul Woolley Conference on Capital Market Dysfunctionality, London, England.

May 2008 University of Chicago, Beyond Liquidity conference, Chicago IL
January 2008 Jackson Finance Group conference, Jackson Hole WY

How to Define Illegal Price Manipulation

June 2008 Bates White Antitrust conference, Washington DC
January 2008 American Economic Association Meetings, New Orleans, LA

Leverage, Moral Hazard and Liquidity

July 2009 European Summer Symposium in Financial Markets, Gerzensee, Switzerland

June 2009 Oxford Man Institute of Quantitative Finance Liquidity Conference, Oxford, England
February 2009 Federal Reserve Bank of New York conference on liquidity
July 2008 ISB Center for Analytical Finance conference
June 2008 Western Finance Association, Hawaii.
June 2008 London School of Economics, First Paul Woolley Conference on Capital Market Dysfunctionality, London, England.
May 2008 Northwestern University, Evanston IL
May 2008 University of Chicago, Beyond Liquidity Conference, Chicago IL
April 2008 Southern Methodist University, Dallas TX
April 2008 Wharton School, University of Pennsyvlania
November 2007 University of Houston
October 2007 NBER Market Microstructure conference, Boston MA

Costly Collateral and Liquidity

May 2006 JFI Shanghai conference
May 2006 LSE conference on agency problems in finance

Endogenous Events and Long Run Returns

November 2004 Finance and Accounting Conference, University of Southern California
August 2004 European Finance Association
May 2004 Northwestern University  Illinois
May 2004 Notre Dame  Indiana

Valuation Waves and Merger Activity: The Evidence 
March 2004 De  Paul University Chicago IL
January 2004 American Finance Association,  San Diego ,  CA
August 2003 European Finance Association Meetings,  Glasgow Scotland April 2003, NBER Behavioral Finance Meetings

Mergers Mechanisms

January 2004, Econometric Society Winter Meetings,  San Diego ,  California
September 2003, Auctions and Market Design,  Fondazione Eni Enrico
Mattei ,  Milan ,  Italy
June 2003, Econometric Society Summer Meetings,  Evanston ,  Illinois
January 2003, Third International Conference on Game Theory,  Mumbai ,  India

Market Valuation and Merger Waves

January 2003, AFA Meetings  Washington DC
November 2002, NBER Corporate Finance Meetings,  Boston
September 2002,  Indiana University
June 2002,  Oxford University
June 2002,  London Business School

Financing Auction Bids

October 2001,  Rice University
October 2001,  Carnegie Mellon University
May 2001,  University of  Chicago
May 2001,  Atlanta Finance Forum (Georgia Tech,  Emory ,  Georgia State,  Atlanta Fed)}
January 2001  Yale University

Optimal Bidding  In Multi-Unit Discriminatory Auctions

July 2000  Stonybrook Conference on Multi-Unit Auctions
January 2000  London School of Economics

Corporate Reorganizations and Non-Cash Auctions

January 2000, AFA Meetings in  Boston
June 1999, WFA Meetings in  Santa Monica

Why Is Inter-dealer Trading So Pervasive In Financial Markets?

June 1999, WFA Meetings in  Santa Monica
April 1998,  University of  Michigan
October 1998  Washington University at  St. Louis
March 1999  University of  Southern California

Market Architecture: Limit Order Books Versus Dealership Markets

August 1988, EFA Meetings at  Insead
May 1998, National Bureau  Of Economic Research,  Boston
June 1988, WFA Meetings  At Monterey
January 1999, Econometric Society Meetings in  New York

Preferencing , Internalization, Best Execution and Dealer Profits

October 1997,  Ohio State University.
June 1997, Western Finance Meetings , San Diego ,  California
November 1996, Conference on Dealer Markets , Ohio State University

Auctions With When Issued Trading: A Model of the  U.S. Treasury Markets 

March 1997,  University of  British Columbia
January 1997 , American Finance Association Meetings,  New Orleans
October 1996,  Michigan State University
June 1996 Western Finance Meetings,  Sunriver ,  Oregon
April 1996,  Cornell University
April 1996,  Columbia University
April 1996,  University of  Iowa

Do Inventories Matter in Dealership Markets? Evidence  From The  London Stock Exchange

November 1996, Conference on Dealer Markets , Ohio State University
January 1995, American Finance Association Meetings,  Washington DC
August 1994, European Finance Association Meetings at  Brussels
March 1994, Memphis State University/NASD Conference on `` The Competition  For Order Flow''

Disclosure and Regulation  With Large Market Makers: Analysis of the  London Stock Exchange

June 1995, Western Finance Association Meetings,  Aspen ,  Colorado
April 1995,  Carnegie Mellon University
November 1994,  McGill University ,  Montreal ,  Canada
October 1994, UCLA
August 1993, European Finance Association Meetings,  Copenhagen ,  Denmark

Strategic Trading When Agents Forecast the Forecast of Others

August 1994, European Finance Association Meetings at  Brussels
June 1994, Western Finance Association Meetings,  Santa Fe ,  New Mexico
October 1993, Third Annual Accounting and Finance Conference,  Washington University at  St. Louis

Can Speculative Trading Explain the Volume-Volatility Relation?

January 1994, American Finance Association Meetings,  Boston ,  Massuchussetts
November 1993, Duke University-NYSE Conference in Honor  of Kalman J. Cohen
December 1992,  Stanford University
December 1992,  University of  California at  Berkeley

On The Existence of Linear  Equilibria in Models of Market Making.

December 1993, Econometric Society Meetings,  Boston ,  Massuchussetts

Strategic Trading With Asymmetrically Informed Traders and Long-Lived Information 

August 1993, European Finance Association Meetings,  Copenhagen ,  Denmark
June 1993, Western Finance Association Meetings, Whistler,  British Columbia
February 1993,  Boston College
November 1992,  Indiana University

A New Approach to International Arbitrage Pricing 

June 1993, Western Finance Association Meetings, Whistler,  British Columbia
April 1993,  University of  Pennsylvania
October 1992,  London Business School
October 1992,  The City University Business School

No Arbitrage and Arbitrage Pricing: A New Approach 

December 1992, Econometric Society Meetings,  Anaheim
June 1992, Western Finance Association Meetings, San Francisco 
April 1992,  University of  Michigan

The Effect of Public Information and Competition on Trading Volume and Price Volatility

January 1991 Board of Governors of the Federal Reserve System,  Washington ,  District of Columbia

Why Do Firms Hedge? An Asymmetric Information Model 

February 1998 Federal Reserve Conference,  Miami Beach ,  Florida
November 1990 Southern Finance Association Meetings,  Key West ,  Florida
December 1990 American Finance Association Meetings,  Washington ,  District of Columbia
May 1990 Northwestern University 
April 1990  Carnegie Mellon University

Trading Cost for Target Firms  Around Takeovers

December 1990 American Finance Association Meetings,  Washington ,  District of Columbia
June 1990 Western Finance Association Meetings,  Santa Barbara ,  California

Variations in Trading Volumes, Return Volatility and Trading Costs: Evidence on Recent Price Formation Models

December 1989 American Finance Association Meetings,  Atlanta ,  Georgia .
June 1988 Western Finance Association Meetings,  Napa ,  California .

A Theory of  Interday Variations in Volumes, Spreads and Variances 

December 1988 American Finance Association Meetings,  New York ,  New York
October 1988  University of  Minnesota
March 1988 Georgia Institute of Technology
June 1987 Western Finance Association Meetings,  San Diego ,  California