Regulatory Pressure and Fire Sales in the Corporate Bond Market

By Andrew Ellul, Chotibhak Jotikasthira, Christian Lundblad. 2011

485 citations recorded by the source corpus.

Subfields: Finance

View Paper: https://www.semanticscholar.org/paper/d07e07647e82032ef4f30827c4701c005b8e2f6d

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Citations in the corpus

Rating Agencies in the Face of Regulation (2013, unknown): “Following the results by Kisgen and Strahan (2010) and Ellul, Jotikasthira, and Lundblad (2011), the regulatory advantage is especially important around the investment-grade / junk threshold and at the Aaa vs. Aa threshold.37 Thus, even within a security class and within the same time period, the…”
Revolving Doors on Wall Street (2016, background): “See Faulkender and Petersen (2006), Kisgen (2006, 2009, 2012), Sufi (2009), Tang (2009), Kisgen and Strahan (2010), White (2010), Ellul, Jotikasthira, and Lundblad (2011), Bongaerts, Cremers, and Goetzman (2012), Opp, Opp, and Harris (2012), and Manso (2013). non-transitioning analysts’ ratings as…”
Stock Price Fragility (2011, unknown): “For instance, 25% of the cross-sectional variation in the beta with respect to the Fama and French (1993) HML factor can be explained by the ownership of these securities: i.”
Fire‐Sale Spillovers and Systemic Risk (2015, unknown): “For further discussion, see Allen and Carletti (2008); Sapra (2008); Ellul et al. (2014). 14In order to obtain a robust estimate, we assume that the adjustment speed λt varies over time but not across banks. See Section 4 for details. 15Greenwood et al. (2015) discuss a similar partial adjustment mo”
Investor Flows and Fragility in Corporate Bond Funds (2017, background): “…There is vast evidence on the price pressure imposed by mutual fund outflows (e.g., Coval and Stafford, 2007; Manconi, Massa, and Yasuda, 2012 ; and Ellul, Jotikasthira, and Lundblad, 2011 ) and on the real effect of these outflows (e.g., Edmans, Goldstein, and Jiang, 2012 ; and Hau and Lai, 2013…”
The Same Bond at Different Prices: Identifying Search Frictions and Selling Pressures (2012, background): “…the response of corporate bond prices to supply/demand imbalances has been studied in a number of papers (Chen, Lookman, Schürhoff, and Seppi (2009), Ellul, Jotikasthira, and Lundblad (2009), Ambrose, Cai, and Helwege (2009), and Newman and Rierson (2004)) the behavior of bid-ask spreads has not.”