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- Publications
- Influence
Stressed Not Frozen: The Fed Funds Market in the Financial Crisis
- Gara M. Afonso, Anna Kovner, Antoinette Schoar
- Economics
- 1 March 2010
This paper examines the impact of the financial crisis of 2008 on the federal funds market, specifically the bankruptcy of Lehman Brothers. Rather than a complete collapse of lending in the presence… Expand
Performance persistence in entrepreneurship
- Paul A. Gompers, Anna Kovner, J. Lerner, David S. Scharfstein
- Business
- 1 April 2010
This paper presents evidence of performance persistence in entrepreneurship. We show that entrepreneurs with a track record of success are much more likely to succeed than first-time entrepreneurs… Expand
Specialization and Success: Evidence from Venture Capital
- Paul A. Gompers, Anna Kovner, J. Lerner
- Business
- 13 October 2009
This paper examines how organizational structure affects behavior and outcomes, studying the performance of different types of venture capital organizations. We find a strong positive relationship… Expand
Buy local? The geography of venture capital
- H. Chen, Paul A. Gompers, Anna Kovner, J. Lerner
- Economics, Business
- 2010
We document geographic concentration by both venture capital firms and venture capital-financed companies in three metropolitan areas: San Francisco, Boston, and New York. We find that venture… Expand
Buy Local? the Geography of Successful and Unsuccessful Venture Capital Expansion
- H. Chen, Paul A. Gompers, Anna Kovner, J. Lerner
- Business
- 1 June 2009
We document geographic concentration by both venture capital firms and venture capital-financed companies in three cities - San Francisco, Boston, and New York. We find that firms open new satellite… Expand
The Private Equity Advantage: Leveraged Buyout Firms and Relationship Banking
- V. Ivashina, Anna Kovner
- Economics
- 5 April 2010
This article examines the impact of leveraged buyout firms' bank relationships on the terms of their syndicated loans. We examine a sample of 1,590 loans financing private equity sponsored leveraged… Expand
Evaluating the Information in the Federal Reserve Stress Tests
- M. Flannery, Beverly J. Hirtle, Anna Kovner
- Business
- 1 October 2015
We present evidence that the Federal Reserve stress tests produce information about both the stress-tested bank holding companies and the overall state of the banking industry. Our evidence goes… Expand
Assessing Financial Stability: The Capital and Loss Assessment under Stress Scenarios (CLASS) Model
- Beverly J. Hirtle, Anna Kovner, James I. Vickery, Meru Bhanot
- Economics
- 1 July 2015
The CLASS model is a top-down capital stress testing framework that uses public data, simple econometric models, and auxiliary assumptions to project the effect of macroeconomic scenarios on U.S.… Expand
Venture Capital Investment Cycles: The Role of Experience and Specialization
- Paul A. Gompers, Anna Kovner, J. Lerner, David S. Scharfstein
- Business
- 1 December 2005
- 22
- 4
How Do Global Banks Scramble for Liquidity? Evidence from the Asset-Backed Commercial Paper Freeze of 2007
- V. Acharya, Gara M. Afonso, Anna Kovner
- Economics
- 15 March 2012
In August of 2007, banks faced a freeze in funding liquidity from the asset-backed commercial paper (ABCP) market. We investigate how banks scrambled for liquidity in response to this freeze and its… Expand