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Foreign fund flows and equity prices during the Covid-19 pandemic : evidence from India

Acharya, Viral V.; Anshuman, V. Ravi; Kiran Kumar, K. - 2022

We study the period of the COVID-19 pandemic to assess the impact of foreign institutional investor (FII) flows on asset prices in an emerging market. Using a dataset of stock-level foreign fund flows of Indian equities, we show that stocks experiencing abnormally high innovations in foreign...

Persistent link: https://www.econbiz.de/10013334977

The seeds of a crisis : a theory of bank liquidity and risk taking over the business cycle

Acharya, Viral V.; Naqvi, Hassan - In: Journal of financial economics 106 (2012) 2, pp. 349-366

Persistent link: https://www.econbiz.de/10009666634

The Seeds of a Crisis : A Theory of Bank Liquidity and Risk-Taking Over the Business Cycle

Acharya, Viral V. - 2013

We examine how the banking sector may ignite the formation of asset price bubbles when there is access to abundant … liquidity. Inside banks, given lack of observability of effort, loan officers (or risk takers) are compensated based on the … macroeconomic risk, investors reduce direct investment and hold more bank deposits. This ‘flight to quality’ leaves banks flush with …

Persistent link: https://www.econbiz.de/10013094075