Michael Schwert

University of Pennsylvania - The Wharton School

3641 Locust Walk

Philadelphia, PA 19104-6365

United States

SCHOLARLY PAPERS

14

DOWNLOADS
Rank 4,800

SSRN RANKINGS

Top 4,800

in Total Papers Downloads

11,418

SSRN CITATIONS
Rank 8,264

SSRN RANKINGS

Top 8,264

in Total Papers Citations

124

CROSSREF CITATIONS

33

Scholarly Papers (14)

1.

Municipal Bond Liquidity and Default Risk

Journal of Finance, Forthcoming, Fisher College of Business Working Paper No. 2016-03-16, Charles A. Dice Center Working Paper No. 2016-16
Number of pages: 55 Posted: 15 Mar 2014 Last Revised: 08 Nov 2016
Michael Schwert
University of Pennsylvania - The Wharton School
Downloads 1,852 (11,614)
Citation 25

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municipal bonds, credit risk

2.

Bank Capital and Lending Relationships

Journal of Finance, Forthcoming, Fisher College of Business Working Paper No. 2016-03-17, Charles A. Dice Center Working Paper No. 2016-17
Number of pages: 63 Posted: 15 Nov 2015 Last Revised: 11 Apr 2017
Michael Schwert
University of Pennsylvania - The Wharton School
Downloads 1,610 (14,492)
Citation 53

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banks, bank capital, lending relationships, syndicated loans

3.

Does Borrowing from Banks Cost More than Borrowing from the Market?

Journal of Finance, Forthcoming
Number of pages: 62 Posted: 27 Oct 2017 Last Revised: 20 Aug 2019
Michael Schwert
University of Pennsylvania - The Wharton School
Downloads 1,474 (16,665)
Citation 17

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credit spreads, syndicated loans, corporate bonds, banking

4.

Capital Structure and Systematic Risk

Rock Center for Corporate Governance at Stanford University Working Paper No. 178
Number of pages: 34 Posted: 08 Apr 2014 Last Revised: 14 Apr 2014
Michael Schwert and Ilya A. Strebulaev
University of Pennsylvania - The Wharton School and Stanford University - Graduate School of Business
Downloads 1,438 (17,277)
Citation 11

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capital structure, systematic risk

5.
Downloads 1,302 ( 20,036)
Citation 3

CLO Performance

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper, Journal of Finance, Forthcoming
Number of pages: 64 Posted: 15 Aug 2020 Last Revised: 15 Dec 2021
Larry Cordell, Michael R. Roberts and Michael Schwert
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, The Wharton School - University of Pennsylvania; National Bureau of Economic Research (NBER) and University of Pennsylvania - The Wharton School
Downloads 1,298 (19,776)
Citation 3

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collateralized loan obligations, leveraged loans, securitization

Clo Performance

NBER Working Paper No. w29410
Number of pages: 62 Posted: 01 Nov 2021 Last Revised: 04 Jan 2022
Larry Cordell, Michael R. Roberts and Michael Schwert
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, The Wharton School - University of Pennsylvania; National Bureau of Economic Research (NBER) and University of Pennsylvania - The Wharton School
Downloads 4 (816,161)
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6.
Downloads 1,017 ( 28,830)
Citation 5

The Economics of PIPEs

Jongha Lim, Michael Schwert and Michael S. Weisbach, Journal of Financial Intermediation (Forthcoming)
Number of pages: 54 Posted: 21 Oct 2017 Last Revised: 29 Aug 2019
Jongha Lim, Michael Schwert and Michael S. Weisbach
California State University, Fullerton - Department of Finance, University of Pennsylvania - The Wharton School and Ohio State University (OSU) - Department of Finance
Downloads 993 (29,357)
Citation 4

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PIPE, private placement, alternative investment, hedge fund, private equity fund, warrant

The Economics of Pipes

NBER Working Paper No. w23967
Number of pages: 52 Posted: 30 Oct 2017 Last Revised: 27 Dec 2021
Jongha Lim, Michael Schwert and Michael S. Weisbach
California State University, Fullerton - Department of Finance, University of Pennsylvania - The Wharton School and Ohio State University (OSU) - Department of Finance
Downloads 24 (649,687)
Citation 1

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7.

Sea Level Rise Exposure and Municipal Bond Yields

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 53 Posted: 11 Nov 2019 Last Revised: 06 Oct 2021
Yale School of Management, Pennsylvania State University - Smeal College of Business, University of Colorado, Boulder and University of Pennsylvania - The Wharton School
Downloads 884 (35,065)
Citation 17

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climate change, sea level rise, asset prices, municipal bonds, credit risk

8.

Proactive Capital Structure Adjustments: Evidence from Corporate Filings

Stanford University Graduate School of Business Research Paper No. 18-31
Number of pages: 59 Posted: 21 Jun 2018 Last Revised: 18 Aug 2020
Arthur G. Korteweg, Michael Schwert and Ilya A. Strebulaev
University of Southern California - Marshall School of Business, University of Pennsylvania - The Wharton School and Stanford University - Graduate School of Business
Downloads 475 (78,689)
Citation 2

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capital structure, leverage, adjustment costs

Interest Rates and the Design of Financial Contracts

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 44 Posted: 13 Jan 2020 Last Revised: 21 Jan 2022
Michael R. Roberts and Michael Schwert
The Wharton School - University of Pennsylvania; National Bureau of Economic Research (NBER) and University of Pennsylvania - The Wharton School
Downloads 411 (92,740)

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financial contracts, interest rates, banking, commercial lending

Interest Rates and the Design of Financial Contracts

NBER Working Paper No. w27195
Number of pages: 62 Posted: 26 May 2020 Last Revised: 18 Nov 2021
Michael R. Roberts and Michael Schwert
The Wharton School - University of Pennsylvania; National Bureau of Economic Research (NBER) and University of Pennsylvania - The Wharton School
Downloads 9 (772,634)
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10.

The Effects of Transparency on OTC Market-Making

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 49 Posted: 12 Dec 2018 Last Revised: 12 Aug 2021
Ryan Lewis and Michael Schwert
University of Colorado, Boulder and University of Pennsylvania - The Wharton School
Downloads 331 (119,089)
Citation 2

Abstract:

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over-the-counter markets, price transparency, corporate bonds

11.

Duration-Based Valuation of Corporate Bonds

Number of pages: 39 Posted: 01 Sep 2021
Jules H. van Binsbergen and Michael Schwert
University of Pennsylvania - The Wharton School and University of Pennsylvania - The Wharton School
Downloads 278 (143,304)

Abstract:

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corporate bonds, duration, capital asset pricing model

12.

The Economic Burden of Pension Shortfalls: Evidence from House Prices

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 57 Posted: 09 Mar 2021 Last Revised: 19 Oct 2021
Brigham Young University - Marriott School, University of Colorado at Boulder, University of Illinois at Urbana-Champaign - Department of Finance, University of Colorado, Boulder and University of Pennsylvania - The Wharton School
Downloads 169 (228,201)

Abstract:

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Public finance, pensions, deadweight loss, real estate.

13.

Hop, Skip and Jump - What are Modern 'Jump' Tests Finding in Stock Returns?

Number of pages: 39 Posted: 27 Jul 2010
Michael Schwert
University of Pennsylvania - The Wharton School
Downloads 162 (236,454)
Citation 5

Abstract:

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jump testing, coherence, intraday stock returns

14.

The Economic Burden of Pension Shortfalls: Evidence from House Prices

NBER Working Paper No. w29405
Number of pages: 58 Posted: 25 Oct 2021 Last Revised: 18 Nov 2021
Brigham Young University, University of Colorado at Boulder, University of Illinois at Urbana-Champaign - Department of Finance, University of Colorado, Boulder and University of Pennsylvania - The Wharton School
Downloads 6 (767,294)
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