Victoria Ivashina

Harvard University

Lovett-Learned Professor of Finance

Harvard Business School

Baker Library 233

Boston, MA 02163

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

32

DOWNLOADS
Rank 594

SSRN RANKINGS

Top 594

in Total Papers Downloads

45,019

SSRN CITATIONS
Rank 529

SSRN RANKINGS

Top 529

in Total Papers Citations

1,346

CROSSREF CITATIONS

520

Scholarly Papers (32)

1.

Bank Lending During the Financial Crisis of 2008

EFA 2009 Bergen Meetings Paper, Journal of Financial Economics (JFE), Vol. 97, 319-338, 2010
Number of pages: 45 Posted: 10 Nov 2008 Last Revised: 15 Feb 2018
Victoria Ivashina and David S. Scharfstein
Harvard University and Harvard Business School - Finance Unit
Downloads 11,443 (474)
Citation 181

Abstract:

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Bank Lending, Financial Crisis

The Disintermediation of Financial Markets: Direct Investing in Private Equity

Journal of Financial Economics (JFE), 116 (1), 160-178, 2015
Number of pages: 49 Posted: 09 Oct 2012 Last Revised: 15 Feb 2018
Lily H. Fang, Victoria Ivashina and Josh Lerner
INSEAD - Finance, Harvard University and Harvard Business School - Finance Unit
Downloads 6,262 (1,359)
Citation 3

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Financial Intermediation, Private Equity, Direct Investment, Co-investment

The Disintermediation of Financial Markets: Direct Investing in Private Equity

NBER Working Paper No. w19299
Number of pages: 52 Posted: 10 Aug 2013 Last Revised: 27 Mar 2021
Lily H. Fang, Victoria Ivashina and Josh Lerner
INSEAD - Finance, Harvard University and Harvard Business School - Finance Unit
Downloads 82 (367,572)
Citation 21

Abstract:

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3.

The Private Equity Advantage: Leveraged Buyout Firms and Relationship Banking

EFA 2008 Athens Meetings Paper, Review of Financial Studies, 24 (7), 2462-2498, 2011
Number of pages: 60 Posted: 29 Feb 2008 Last Revised: 15 Feb 2018
Victoria Ivashina and Anna Kovner
Harvard University and Federal Reserve Bank of New York
Downloads 3,835 (3,197)
Citation 48

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Private equity; leveraged buyouts; bank debt; relationship banking

4.

Asymmetric Information Effects on Loan Spreads

Journal of Financial Economics 92 (2009), pp. 300-319
Number of pages: 42 Posted: 18 Nov 2005 Last Revised: 31 Jul 2009
Victoria Ivashina
Harvard University
Downloads 2,821 (5,431)
Citation 97

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Banks, Syndicated loans, Asymmetric information

5.
Downloads 1,858 ( 10,714)

Bank Debt and Corporate Governance

EFA 2004 Maastricht Meetings Paper No. 4601, Review of Financial Studies
Number of pages: 66 Posted: 20 Jul 2004 Last Revised: 22 Jan 2009
Victoria Ivashina, Vinay B. Nair, Anthony Saunders and Nadia Massoud
Harvard University, University of Pennsylvania - Finance Department, New York University - Leonard N. Stern School of Business and Melbourne Business School, University of Melbourne
Downloads 1,858 (10,502)
Citation 13

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Banks, Corporate Governance, Takeovers, Conflicts of Interest

Bank Debt and Corporate Governance

The Review of Financial Studies, Vol. 22, Issue 1, pp. 41-77, 2009
Posted: 03 Jan 2009
Harvard University, University of Pennsylvania - Finance Department, New York University - Leonard N. Stern School of Business, Melbourne Business School, University of Melbourne and Iowa State University - Department of Accounting and Finance

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G10, G20, G21, G34

6.
Downloads 1,735 ( 11,979)
Citation 176

Reaching for Yield in the Bond Market

Harvard Business School Finance Working Paper No. 12-103, Journal of Finance, Volume 70 (5), 1863-1902, 2015
Number of pages: 54 Posted: 24 May 2012 Last Revised: 15 Feb 2018
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 1,648 (12,758)
Citation 10

Abstract:

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Reaching for yield; Financial crises; Credit cycles; Insurance companies

Reaching for Yield in the Bond Market

Number of pages: 42 Posted: 02 Jun 2012
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 58 (444,645)
Citation 1

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Fixed income, Reaching for yield, Financial intermediation, Insurance companies

Reaching for Yield in the Bond Market

NBER Working Paper No. w18909
Number of pages: 56 Posted: 22 Mar 2013 Last Revised: 03 Mar 2021
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 29 (584,093)
Citation 140

Abstract:

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7.

Combining Banking with Private Equity Investing

AFA 2011 Denver Meetings Paper, Harvard Business School Finance Working Paper No. 10-106, Review of Financial Studies, 26 (9), 2137-2173, 2013
Number of pages: 47 Posted: 18 Mar 2010 Last Revised: 15 Feb 2018
Lily H. Fang, Victoria Ivashina and Josh Lerner
INSEAD - Finance, Harvard University and Harvard Business School - Finance Unit
Downloads 1,723 (12,115)
Citation 2

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Private equity, LBO, Banks, Bank regulation

8.
Downloads 1,620 ( 13,336)
Citation 74

Cyclicality of Credit Supply: Firm Level Evidence

Harvard Business School Finance Working Paper No. 10-107 , AFA 2011 Denver Meetings Paper, Journal of Monetary Economics, Vol. 62 (C), 76-93, 2014
Number of pages: 48 Posted: 18 Mar 2010 Last Revised: 15 Feb 2018
Victoria Ivashina and Bo Becker
Harvard University and Stockholm School of Economics
Downloads 1,586 (13,546)
Citation 35

Abstract:

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Banks, Financial Markets and the Macroeconomy, Business Cycles, Credit Cycles

Cyclicality of Credit Supply: Firm Level Evidence

NBER Working Paper No. w17392
Number of pages: 47 Posted: 21 Sep 2011
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 34 (554,319)
Citation 7

Abstract:

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9.

Loan Syndication and Credit Cycles

American Economic Review, Forthcoming
Number of pages: 11 Posted: 20 Jan 2010
Victoria Ivashina and David S. Scharfstein
Harvard University and Harvard Business School - Finance Unit
Downloads 1,581 (13,850)
Citation 12

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Banks, Credit, Syndicated loans

10.

The Ownership and Trading of Debt Claims in Chapter 11 Restructurings

Journal of Financial Economics (JFE), 119 (2), 316-335, 2015
Number of pages: 47 Posted: 19 Mar 2010 Last Revised: 17 Jan 2017
Victoria Ivashina, Benjamin Charles Iverson and David C. Smith
Harvard University, Brigham Young University and University of Virginia - McIntire School of Commerce
Downloads 1,576 (13,918)
Citation 16

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Chapter 11; Ownership structure; Distressed debt; Trading in bankruptcy

11.
Downloads 1,378 ( 17,226)
Citation 46

Financial Repression in the European Sovereign Debt Crisis

Swedish House of Finance Research Paper No. 14-13, Paris December 2014 Finance Meeting EUROFIDAI - AFFI Paper, Review of Finance, Forthcoming
Number of pages: 41 Posted: 27 Apr 2014 Last Revised: 15 Feb 2018
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 1,376 (16,924)
Citation 29

Abstract:

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Credit Cycles, Sovereign Debt, Financial Repression

Financial Repression in the European Sovereign Debt Crisis

CEPR Discussion Paper No. DP12185
Number of pages: 52 Posted: 04 Aug 2017
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 2 (799,307)
Citation 41
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Credit cycles, financial repression, Sovereign debt

12.

Institutional Stock Trading on Loan Market Information

AFA 2008 New Orleans Meetings Paper, EFA 2007 Ljubljana Meetings, Journal of Financial Economics (JFE), 100 (2), 284-303, 2011
Number of pages: 55 Posted: 18 Dec 2007 Last Revised: 15 Feb 2018
Victoria Ivashina and Zheng Sun
Harvard University and University of California, Irvine - Paul Merage School of Business
Downloads 1,246 (19,981)
Citation 58

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Institutional investors, Syndicated loans, Insider trading

13.
Downloads 1,200 ( 21,177)
Citation 45

Securitization without Adverse Selection: The Case of CLOs

AFA 2010 Atlanta Meetings Paper, Journal of Financial Economics (JFE), Vol. 106 (1), 91-113, 2012
Number of pages: 58 Posted: 16 Feb 2009 Last Revised: 15 Feb 2018
Efraim Benmelech, Jennifer Dlugosz and Victoria Ivashina
Northwestern University - Kellogg School of Management, Board of Governors of the Federal Reserve System and Harvard University
Downloads 1,144 (22,335)
Citation 46

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Structured finance, Collateralized loan obligations (CLOs), CDOs, Syndicated loans

Securitization Without Adverse Selection: The Case of Clos

NBER Working Paper No. w16766
Number of pages: 46 Posted: 07 Feb 2011 Last Revised: 25 Apr 2021
Efraim Benmelech, Jennifer Dlugosz and Victoria Ivashina
Northwestern University - Kellogg School of Management, Board of Governors of the Federal Reserve System and Harvard University
Downloads 56 (452,304)

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14.

Institutional Demand Pressure and the Cost of Corporate Loans

Journal of Financial Economics (JFE), 99 (3), 500-522, 2011
Number of pages: 60 Posted: 16 Nov 2008 Last Revised: 15 Feb 2018
Victoria Ivashina and Zheng Sun
Harvard University and University of California, Irvine - Paul Merage School of Business
Downloads 1,010 (27,261)
Citation 32

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Institutional investors, syndicated loans, LBO, credit crisis

Pay Now or Pay Later?: The Economics within the Private Equity Partnership

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 51 Posted: 02 Apr 2016 Last Revised: 15 Feb 2018
Victoria Ivashina and Josh Lerner
Harvard University and Harvard Business School - Finance Unit
Downloads 918 (30,773)
Citation 5

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Partnerships, venture capital, leveraged buyout

Pay Now or Pay Later?: The Economics within the Private Equity Partnership

NBER Working Paper No. w22660
Number of pages: 51 Posted: 26 Sep 2016 Last Revised: 02 Jun 2021
Victoria Ivashina and Josh Lerner
Harvard University and Harvard Business School - Finance Unit
Downloads 33 (560,025)
Citation 1

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16.
Downloads 923 ( 30,972)
Citation 74

Dollar Funding and the Lending Behavior of Global Banks

Quarterly Journal of Economics, 130 (3), 1241-1281, 2015
Number of pages: 46 Posted: 06 Nov 2012 Last Revised: 15 Feb 2018
Victoria Ivashina, David S. Scharfstein and Jeremy C. Stein
Harvard University, Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 721 (42,869)
Citation 1

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Banks, Global Banks, Credit Supply, Dollar Funding

Dollar Funding and the Lending Behavior of Global Banks

Quarterly Journal of Economics, Forthcoming
Number of pages: 51 Posted: 06 Jan 2013 Last Revised: 11 Mar 2015
Victoria Ivashina, David S. Scharfstein and Jeremy C. Stein
Harvard University, Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 192 (193,232)

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Covered Interest Parity; Dollar Funding; Credit Supply; Global Banks

Dollar Funding and the Lending Behavior of Global Banks

NBER Working Paper No. w18528
Number of pages: 47 Posted: 11 Nov 2012 Last Revised: 15 Feb 2021
Victoria Ivashina, David S. Scharfstein and Jeremy C. Stein
Harvard University, Harvard Business School - Finance Unit and Harvard University - Department of Economics
Downloads 10 (728,718)
Citation 25

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17.
Downloads 774 ( 39,507)
Citation 28

Covenant-Light Contracts and Creditor Coordination

Riksbank Research Paper Series No. 149, Sveriges Riksbank Working Paper Series No. 325, Swedish House of Finance Research Paper No. 17-1
Number of pages: 45 Posted: 07 Dec 2016 Last Revised: 13 Jan 2017
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 566 (58,905)
Citation 15

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Credit cycles, Loan contracts, Debt Covenants

Covenant-Light Contracts and Creditor Coordination

Swedish House of Finance Research Paper No. 16-09
Number of pages: 44 Posted: 31 Mar 2016 Last Revised: 04 Apr 2016
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 208 (179,440)
Citation 21

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Credit cycles; Loan contracts; Debt Covenants

18.

Monetary Policy and Global Banking

Journal of Finance, Forthcoming
Number of pages: 74 Posted: 29 Jun 2016 Last Revised: 09 Feb 2020
Falk Bräuning and Victoria Ivashina
Federal Reserve Banks - Federal Reserve Bank of Boston and Harvard University
Downloads 541 (63,064)
Citation 6

Abstract:

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Global banks; monetary policy transmission; cross-border lending

19.
Downloads 442 ( 80,738)
Citation 1

Weak Credit Covenants

Number of pages: 59 Posted: 09 Aug 2018 Last Revised: 29 May 2020
Victoria Ivashina and Boris Vallee
Harvard University and Harvard Business School - Finance Unit
Downloads 436 (81,309)

Abstract:

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Leveraged Loans; Loan contracts; Covenants; Carve-out; Basket; Creditor Governance; LBO

Weak Credit Covenants

NBER Working Paper No. w27316
Number of pages: 60 Posted: 09 Jun 2020 Last Revised: 20 Feb 2021
Victoria Ivashina and Boris Vallee
Harvard University and Harvard Business School - Finance Unit
Downloads 6 (762,593)
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20.
Downloads 429 ( 83,666)
Citation 12

Large Banks and Small Firm Lending

Number of pages: 52 Posted: 11 Nov 2015 Last Revised: 21 Oct 2018
Vitaly Bord, Victoria Ivashina and Ryan Taliaferro
Federal Reserve Board, Harvard University and Acadian Asset Management
Downloads 390 (92,577)
Citation 14

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Small Firms, Credit Supply, Banking Competition.

Large Banks and Small Firm Lending

NBER Working Paper No. w25184
Number of pages: 53 Posted: 22 Oct 2018 Last Revised: 25 Apr 2021
Vitaly Bord, Victoria Ivashina and Ryan Taliaferro
Federal Reserve Board, Harvard University and Acadian Asset Management
Downloads 39 (527,444)

Abstract:

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21.

U.S. Monetary Policy and Emerging Markets Credit Cycles

Number of pages: 45 Posted: 05 Jun 2017 Last Revised: 15 May 2018
Falk Bräuning and Victoria Ivashina
Federal Reserve Banks - Federal Reserve Bank of Boston and Harvard University
Downloads 420 (85,749)

Abstract:

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Global Business Cycle, Monetary Policy, Emerging Markets, Reaching for Yield

22.

Trade Creditors' Information Advantage

Number of pages: 50 Posted: 01 Feb 2018
Victoria Ivashina and Benjamin Charles Iverson
Harvard University and Brigham Young University
Downloads 250 (150,696)

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Trade Credit, Distress, Bankruptcy

23.
Downloads 208 (179,675)
Citation 3

Loan Types and the Bank Lending Channel

Number of pages: 44 Posted: 19 Mar 2020 Last Revised: 17 Apr 2020
Victoria Ivashina, Luc Laeven and Enrique Moral-Benito
Harvard University, European Central Bank (ECB) and Banco de España
Downloads 151 (238,012)
Citation 2

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Bank credit, Loan types, Bank lending channel, Credit registry

Loan Types and the Bank Lending Channel

Banco de Espana Working Paper No. 2020
Number of pages: 55 Posted: 20 Jul 2020
Victoria Ivashina, Luc Laeven and Enrique Moral-Benito
Harvard University, European Central Bank (ECB) and Banco de España
Downloads 28 (590,711)

Abstract:

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bank credit, loan types, bank lending channel, credit registry

Loan Types and the Bank Lending Channel

ECB Working Paper No. 20202409
Number of pages: 49 Posted: 14 May 2020
Victoria Ivashina, Luc Laeven and Enrique Moral-Benito
Harvard University, European Central Bank (ECB) and Banco de España
Downloads 27 (597,337)

Abstract:

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bank credit, bank lending channel, credit registry, loan types

Loan Types and the Bank Lending Channel

NBER Working Paper No. w27056
Number of pages: 45 Posted: 28 Apr 2020 Last Revised: 06 Jun 2021
Victoria Ivashina, Luc Laeven and Enrique Moral-Benito
Harvard University, European Central Bank (ECB) and Banco de España
Downloads 2 (799,307)
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Loan Types and the Bank Lending Channel

CEPR Discussion Paper No. DP14459
Number of pages: 57 Posted: 03 Mar 2020
Victoria Ivashina, Luc Laeven and Enrique Moral-Benito
Harvard University, European Central Bank (ECB) and Banco de España
Downloads 0
Citation 3
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Bank credit, bank lending channel, Credit registry, Loan types

24.

Why is Dollar Debt Cheaper? Evidence from Peru

Number of pages: 57 Posted: 08 Jun 2020 Last Revised: 23 Oct 2020
Bryan Gutiérrez, Victoria Ivashina and Juliana Salomao
Superintendencia de Banca Seguros y AFP, Harvard University and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 168 (217,162)
Citation 2

Abstract:

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Emerging Market Corporate Debt, Currency Mismatch, Liability Dollarization, Carry Trade

25.
Downloads 168 (217,162)

Disruption and Credit Markets

Number of pages: 50 Posted: 13 Feb 2019
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 168 (217,360)

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Disruption, Default, Corporate Bonds

Disruption and Credit Markets

CEPR Discussion Paper No. DP13508
Number of pages: 44 Posted: 11 Feb 2019
Bo Becker and Victoria Ivashina
Stockholm School of Economics and Harvard University
Downloads 0
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corporate bonds, default, Disruption

26.
Downloads 149 (240,052)
Citation 14

Combining Banking with Private Equity Investing

Review of Financial Studies, Vol. 26 (9), 2139-2173, June 2013
Number of pages: 47 Posted: 19 Sep 2014 Last Revised: 15 Feb 2018
Lily H. Fang, Victoria Ivashina and Josh Lerner
INSEAD - Finance, Harvard University and Harvard Business School - Finance Unit
Downloads 125 (276,423)

Abstract:

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Private equity, banks, credit cycles

Combining Banking with Private Equity Investing

NBER Working Paper No. w19300
Number of pages: 48 Posted: 10 Aug 2013 Last Revised: 28 Mar 2021
Lily H. Fang, Victoria Ivashina and Josh Lerner
INSEAD - Finance, Harvard University and Harvard Business School - Finance Unit
Downloads 24 (618,522)
Citation 5

Abstract:

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27.
Downloads 87 (351,254)
Citation 4

Monetary Policy and Global Banking

FRB of Boston Working Paper No. 17-5
Number of pages: 55 Posted: 19 Jul 2017
Falk Bräuning and Victoria Ivashina
Federal Reserve Banks - Federal Reserve Bank of Boston and Harvard University
Downloads 53 (464,070)

Abstract:

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global banks, monetary policy transmission, cross‐border lending

Monetary Policy and Global Banking

NBER Working Paper No. w23316
Number of pages: 75 Posted: 10 Apr 2017 Last Revised: 18 Mar 2021
Falk Bräuning and Victoria Ivashina
Federal Reserve Banks - Federal Reserve Bank of Boston and Harvard University
Downloads 34 (554,319)

Abstract:

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U. S. Monetary Policy and Emerging Market Credit Cycles

FRB of Boston Working Paper No. 17-9
Number of pages: 44 Posted: 09 Nov 2017
Falk Bräuning and Victoria Ivashina
Federal Reserve Banks - Federal Reserve Bank of Boston and Harvard University
Downloads 60 (437,151)

Abstract:

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global business cycle, monetary policy, emerging markets, reaching for yield

U.S. Monetary Policy and Emerging Market Credit Cycles

NBER Working Paper No. w25185
Number of pages: 53 Posted: 22 Oct 2018
Falk Bräuning and Victoria Ivashina
Federal Reserve Banks - Federal Reserve Bank of Boston and Harvard University
Downloads 9 (737,237)
Citation 9

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29.

Bank Balance Sheet Constraints and Bond Liquidity

Number of pages: 49 Posted: 11 Jun 2021 Last Revised: 13 Jun 2021
Johannes Breckenfelder and Victoria Ivashina
European Central Bank (ECB) - Financial Research and Harvard University
Downloads 63 (420,670)

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Bond liquidity; market-making; capital requirements; leverage ratio; mutual funds; COVID-19

30.

Trade Creditors’ Information Advantage

NBER Working Paper No. w24269
Number of pages: 50 Posted: 29 Jan 2018 Last Revised: 25 Apr 2021
Victoria Ivashina and Benjamin Charles Iverson
Harvard University and Brigham Young University
Downloads 7 (724,235)

Abstract:

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31.

Momentive Performance Materials, Inc.

Harvard Business School Finance Case No. 210-081
Posted: 07 Feb 2012
Victoria Ivashina and David S. Scharfstein
Harvard University and Harvard Business School - Finance Unit

Abstract:

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32.

Delphi Corp. and the Credit Derivatives Market (A)

HBS Case No. 210-002, Harvard Business School Finance Unit
Posted: 22 Jul 2009
Stuart C. Gilson, Victoria Ivashina and Sarah Abbott
Harvard Business School - Finance Unit, Harvard University and Harvard University - Business School (HBS)

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