Papers

CAFRAL aims to conduct high quality research in areas of banking and finance, particularly in areas of policy interest. Our research areas include financial institutions, sovereign and corporate bond markets, financial networks and stability, behavioral finance, corporate finance, household finance and related areas of macro-finance such as monetary economics and international finance. CAFRAL aims to build capacity in these areas by developing internal data and analytic resources, capabilities, and collaborations with research institutions with similar missions.
 
We list some of the working papers and publications of current CAFRAL researchers

1. The Effect Of Relationships With Government-Owned Banks On Cash Flow Constraints: Evidence From India
Author(s) Anand Srinivasan and Ashok Thampy
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2. Loan Delinquency In Banking Systems: How Effective Are Credit Reporting Systems?
Author(s) Jugnu Ansari and Saibal Ghosh
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3. Are Women Really More Risk-Averse? The Lending Behaviour Of Women-Owned Cooperatives In India
Author(s) Jugnu Ansari and Saibal Ghosh
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4. Calibration Of Credit Default Probabilities In Discrete Default Intensity And Logit Models
Author(s) Anand Deo, Sandeep Juneja and Akash Kalyani
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5. The Progress Of Financial Inclusion In India: Insights From Multiple Waves Of Survey Data
Author(s) Manuela Kristin Günther
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6. NPL Resolution: A Lesson From The Korean Experience
Author(s) Prof. Raunaq Pungaliya
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7. Inattentive Investors And Mutual Fund-Flows
Author(s) Apoorva Javadekar
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8. Effects Of Demonetization: Evidence From 28 Slum Neighborhoods In Mumbai
Author(s) Deepa Krishnan and Stephan Siegel
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9. Underwriting Government Debt Auctions
Author(s) Sudip Gupta, Rangarajan K. Sundaram, Suresh Sundaresan
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10. Bailouts And Bankruptcies: Corporate Distress, Troubled Debt Restructurings And Equity Stripping
Author(s) Saibal Ghosh, Ashiana Salian
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11. Are Uniform Pricing Policies Unfair? Mortgage Rates, Credit Rationing, And Regional Inequality
Author(s) Nirupama Kulkarni
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12. Homeownership And The American Dream - An Analysis Of Intergenerational Mobility EEcts
Author(s) Nirupama Kulkarni and Ulrike Malmendier
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13. Government Guarantees And Bank Vulnerability During The Financial Crisis Of 2007 – 09: Evidence From An Emerging Market
Author(s) VIRAL V. ACHARYA AND NIRUPAMA KULKARNI
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14. Trading Activity In The Indian Government Bond Market
Author(s) Michael Fleming, Samita Sareen, Seema Saggar
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15. Dynamic Portfolio Credit Risk And Large Deviations
Author(s) Sandeep Juneja
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16. Creditor Rights And Relationship Banking: Evidence From A Policy Experiment
Author(s) Gursharan Bhue, Nagpurnanand Prabhala, Prasanna Tantri
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17. Financial Stress In Indian Corporates
Author(s) Jugnu Ansari, Khushboo Khandelwal, Nagpurnanand Prabhala
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18. Mutual Fund Flows When Manager Has Timing And Picking Skill
Author(s) Apoorva Javadekar
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19. Historical Performance And Risk-Shifting In Mutual Funds
Author(s) Apoorva Javadekar
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20. The Transmission Of Monetary Policy Within Banks: Evidence From India
Author(s) Abhiman Das, Prachi Mishra, Nagpurnanand Prabhala
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21. Venture Capital Communities
Author(s) Amit Bubna, Sanjiv R Das, Nagpurnanand Prabhala
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22. Mutual Fund Competition, Managerial Skill, And Alpha Persistence
Author(s) Gerard Hoberg, Nitin Kumar, Nagpurnanand Prabhala
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23. Competition And Momentum Profits
Author(s) Gerard Hoberg, Nitin Kumar, Nagpurnanand Prabhala
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24. Do Programs Mandating Small Business Lending Disincentivize Growth? Evidence From A Policy Experiment
Author(s) Gursharan Bhue, Nagpurnanand Prabhala, Prasanna Tantri
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25. Monetary Transmission, Ownership And Crisis: How Robust Is The Indian Evidence?
Author(s) Jugnu Ansari, Saibal Ghosh
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26. Banking Regulation, Implicit Government Guarantee And Bank Risk Taking Behavior
Author(s) Jugnu Ansari
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27. Furthering The Financial Inclusion Agenda In India: How Important Is Gender?
Author(s) Saibal Ghosh, Vinod Dharamrajan Publication Economic and Political Weekly
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28. Central Banks And Dynamics Of Bond Market Liquidity
Author(s) Prachi Deuskar, Timothy C Johnson
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29. The Power Of Shareholder Votes: Evidence From Director Elections
Author(s) Reena Aggarwal, Sandeep Dahiya, Nagpurnanand Prabhala
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30. Small Business, Lending Relationships And Crisis: Evidence From Indian Micro Data
Author(s) Saibal Ghosh Publication Decision IIM-C
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31. Capital Structure, Ownership And Crisis: How Different Are Banks?
Author(s) Saibal Ghosh, Goutam Chatterjee Publication RBI Working Paper Series
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32. Partial Privatization, Lending Relationships And Executive Compensation: Evidence From Indian State-Owned Banks
Author(s) Saibal Ghosh
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33. Structural Changes In The Indian Government Bond Market
Author(s) Michael Fleming, Samita Sareen, Seema Saggar
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34. Competition For Underwriting: Implications For Information Production And Insurance
Author(s) Sudip Gupta, Rangarajan K Sundaram, M Suresh Sundaresan
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35. Monetary Policy Under Financial Exclusion
Author(s) Amartya Lahiri, Rajesh Singh
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36. Bank Lending, Risk Taking And The Transmission Of Regulatory Policy: Evidence From India
Author(s) Jugnu Ansari
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37. Determinants Of Commercial Banks’ Loan Pricing: Empirical Analysis Using Dynamic Panel Data Model
Author(s) Jugnu Ansari
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38. CEO-Director Connections And Corporate Fraud: Not Just Whether You Are Connected But How
Author(s) N K Chidambaran, Simi Kedia, Nagpurnanand Prabhala
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39. Product Diversification And Bank Risk Taking Behavior: An Empirical Evidence From Indian Banking System
Author(s) Jugnu Ansari
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40. Macroprudential Regulation And Bank Behaviour: Theory And Evidence From A Quasi-Natural Experiment
Author(s) Saibal Ghosh Publication Macroeconomics and Finance in Emerging Market Economies
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41. Environmental Standards And Political Federalism: Do Labor Legislations Matter?
Author(s) Saibal Ghosh
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42. Debt Recovery Tribunals In India: A Short Note
Author(s) Manasi Phadnis, Nagpurnanand Prabhala
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43. Optimality Of Base Rate System Of Loan Pricing Of A Developing And Emerging Market Economy: An Evaluation
Author(s) Jugnu Ansari, Ashima Goyal
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44. Banks Competition, Managerial Efficiency And The Interest Rate Pass-Through In India
Author(s) Jugnu Ansari, Ashima Goyal
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45. Product Market Threats, Payouts, And Financial Flexibility
Author(s) Gerard Hoberg, Gordon Phillips, Nagpurnanand Prabhala Publication The Journal of Finance
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46. Macroprudential Regulation And Bank Performance: Does Ownership Matter?
Author(s) Saibal Ghosh Publication Journal of Banking Regulation
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47. Interest Rate Pass-Through And Determinants Of Commercial Banks’ Loan Pricing Decisions In India: Empirical Evidence From Dynamic Panel Data Model
Author(s) Sarat Dhal, Jugnu Ansari
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48. A New Measure Of Competition In Indian Loan Markets
Author(s) Jugnu Ansari Publication International Journal of Finance & Banking Studies
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49. Beautiful Minds: The Nobel Memorial Prize In Economics
Author(s) Saibal Ghosh Publication Reserve Bank of India Occasional Papers
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50. A Theoretical And Empirical Analysis Of Interest Rate Pass-Through In India With Regulatory Requirements
Author(s) Jugnu Ansari Publication Beykent University Journal of Social Sciences
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51. Do Economic Reforms Matter For Manufacturing Productivity? Evidence From The Indian Experience
Author(s) Saibal Ghosh
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52. Judging Borrowers By The Company They Keep: Friendship Networks And Information Asymmetry In Online Peer-To- Peer Lending
Author(s) Mingfeng Lin, Nagpurnanand Prabhala, Siva Viswanathan Publication Management Science
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53. Financial Stability, Economic Growth, Inflation And Monetary Policy Linkages In India: An Empirical Reflection
Author(s) Sarat Dhal, Purnendu Kumar, Jugnu Ansari Publication Reserve Bank of India Occasional Papers
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54. Post-Merger Restructuring And The Boundaries Of The Firm
Author(s) Vojislav Maksimovic, Gordon Phillips, Nagpurnanand Prabhala Publication Journal of Financial Economics 2013
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55. IPOs With And Without Allocation Discretion: Empirical Evidence
Author(s) Amit Bubna, Nagpurnanand Prabhala Publication Journal of Financial Intermediation 2011
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56. Affiliation And Firm Performance: Evidence From Indian Business Groups
Author(s) Saibal Ghosh Publication The Manchester School
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57. Financial Deregulation And Profit Efficiency: A Nonparametric Analysis Of Indian Banks
Author(s) Abhiman Das, Saibal Ghosh Publication Journal of Economics and Business
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58. Did Financial Liberalization Ease Financing Constraints? Evidence From Indian Firm-Level Data
Author(s) Saibal Ghosh
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59. Competition In Indian Banking
Author(s) A Prasad, Saibal Ghosh Publication IMF Working Paper
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60. Financial Deregulation And Efficiency: An Empirical Analysis Of Indian Banks During The Post Reform Period
Author(s) Abhiman Das, Saibal Ghosh
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