Anna Kovner

Federal Reserve Bank of New York

33 Liberty Street

New York, NY 10045

United States

SCHOLARLY PAPERS

31

DOWNLOADS
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Top 3,519

in Total Papers Downloads

14,066

SSRN CITATIONS
Rank 778

SSRN RANKINGS

Top 778

in Total Papers Citations

447

CROSSREF CITATIONS

962

Scholarly Papers (31)

Skill vs. Luck in Entrepreneurship and Venture Capital: Evidence from Serial Entrepreneurs

Number of pages: 41 Posted: 02 Oct 2006
Harvard Business School - Finance Unit, Federal Reserve Bank of New York, Harvard Business School - Finance Unit and Harvard Business School - Finance Unit
Downloads 5,473 (1,781)
Citation 5

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new ventures, entrepreneurs

Skill vs. Luck in Entrepreneurship and Venture Capital: Evidence from Serial Entrepreneurs

Number of pages: 42 Posted: 20 Oct 2006 Last Revised: 30 May 2021
Harvard Business School - Finance Unit, Federal Reserve Bank of New York, Harvard Business School - Finance Unit and Harvard Business School - Finance Unit
Downloads 233 (167,640)
Citation 7

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2.

The Private Equity Advantage: Leveraged Buyout Firms and Relationship Banking

EFA 2008 Athens Meetings Paper, Review of Financial Studies, 24 (7), 2462-2498, 2011
Number of pages: 60 Posted: 29 Feb 2008 Last Revised: 15 Feb 2018
Victoria Ivashina and Anna Kovner
Harvard University and Federal Reserve Bank of New York
Downloads 3,875 (3,359)
Citation 49

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Private equity; leveraged buyouts; bank debt; relationship banking

Buy Local? The Geography of Successful and Unsuccessful Venture Capital Expansion

Harvard Business School Finance Working Paper No. 1420371
Number of pages: 41 Posted: 16 Jun 2009
Harvard University - Business School (HBS), Harvard Business School - Finance Unit, Federal Reserve Bank of New York and Harvard Business School - Finance Unit
Downloads 715 (45,429)
Citation 23

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entrepreneurship, private equity, regional location

Buy Local? the Geography of Successful and Unsuccessful Venture Capital Expansion

Number of pages: 42 Posted: 30 Jun 2009 Last Revised: 08 Oct 2021
Harvard University - Business School (HBS), Harvard Business School - Finance Unit, Federal Reserve Bank of New York and Harvard Business School - Finance Unit
Downloads 62 (446,646)

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4.

The Impact of Supervision on Bank Performance

Number of pages: 82 Posted: 21 Mar 2016 Last Revised: 13 May 2019
Federal Reserve Bank of New York - Banking Studies Department, Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 417 (90,253)
Citation 12

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bank supervision, bank regulation, bank performance

5.
Downloads 319 (122,049)
Citation 13

Do Big Banks Have Lower Operating Costs?

Number of pages: 27 Posted: 04 Apr 2014 Last Revised: 21 Jan 2015
Anna Kovner, James I. Vickery and Lily Zhou
Federal Reserve Bank of New York, Federal Reserve Bank of Philadelphia and Federal Reserve Bank of New York
Downloads 264 (148,103)
Citation 6

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banking, economies of scale, too-big-to-fail

Do Big Banks Have Lower Operating Costs?

Journal of Financial Perspectives, Vol. 3, No. 1, 2015
Number of pages: 44 Posted: 04 Dec 2017
Anna Kovner, James I. Vickery and Lily Zhou
Federal Reserve Bank of New York, Federal Reserve Bank of Philadelphia and Federal Reserve Bank of New York
Downloads 55 (473,679)

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Venture Capital Investment Cycles: The Impact of Public Markets

Number of pages: 40 Posted: 04 Jul 2005 Last Revised: 12 Aug 2021
Harvard Business School - Finance Unit, Federal Reserve Bank of New York, Harvard Business School - Finance Unit and Harvard Business School - Finance Unit
Downloads 231 (169,028)
Citation 41

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Venture Capital Investment Cycles: The Impact of Public Markets

Number of pages: 39 Posted: 21 Oct 2019
Harvard Business School - Finance Unit, Federal Reserve Bank of New York, Harvard Business School - Finance Unit and Harvard Business School - Finance Unit
Downloads 67 (428,757)
Citation 31

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private equity, initial public offerings, market rationality

7.

Trading Partners in the Interbank Lending Market

Number of pages: 52 Posted: 19 May 2013
Gara Afonso, Anna Kovner and Antoinette Schoar
Federal Reserve Bank of New York, Federal Reserve Bank of New York and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 274 (143,259)
Citation 59

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interbank lending, OTC markets

How Do Global Banks Scramble for Liquidity? Evidence from the Asset-Backed Commercial Paper Freeze of 2007

Number of pages: 51 Posted: 19 Mar 2012
ProfessorNew York University - Leonard N. Stern School of Business, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 180 (213,104)
Citation 4

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Credit crunch, ABCP freeze, liquidity

How Do Global Banks Scramble for Liquidity? Evidence from the Asset-Backed Commercial Paper Freeze of 2007

Number of pages: 66 Posted: 11 Aug 2013
ProfessorNew York University - Leonard N. Stern School of Business, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 69 (421,949)
Citation 13

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funding risk and liquidity, global banking, ABCP freeze

How Do Global Banks Scramble for Liquidity? Evidence from the Asset-Backed Commercial Paper Freeze of 2007

Number of pages: 63 Posted: 02 May 2013
ProfessorNew York University - Leonard N. Stern School of Business, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 4 (806,276)
Citation 1
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ABCP freeze, credit crunch, liquidity

Supervising Large, Complex Financial Institutions: What Do Supervisors Do?

Number of pages: 21 Posted: 02 Mar 2017 Last Revised: 16 Dec 2017
Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Bank of New York - Banking Studies Department, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 173 (220,636)

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bank supervision, large and complex financial companies

Supervising Large, Complex Financial Institutions: What Do Supervisors Do?

Number of pages: 40 Posted: 31 May 2015
Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Bank of New York - Banking Studies Department, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 73 (408,899)
Citation 9

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bank supervision, large and complex financial companies

10.

Stressed, Not Frozen: The Federal Funds Market in the Financial Crisis

Journal of Finance, Forthcoming, AFA 2011 Denver Meetings Paper, FRB of New York Staff Report No. 437
Number of pages: 53 Posted: 11 Mar 2010 Last Revised: 05 May 2011
Gara Afonso, Anna Kovner and Antoinette Schoar
Federal Reserve Bank of New York, Federal Reserve Bank of New York and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 239 (164,056)
Citation 15

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Fed funds, financial crises, liquidity, interbank lending, hoarding

11.

Measuring Corporate Bond Market Dislocations

Number of pages: 72 Posted: 20 Jan 2021 Last Revised: 01 Jul 2021
Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 196 (197,622)

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corporate bond market conditions, corporate bond spreads, corporate bond issuance, corporate bond liquidity

12.

Cyber Risk and the U.S. Financial System: A Pre-Mortem Analysis

Number of pages: 50 Posted: 23 Jan 2020 Last Revised: 24 May 2021
Thomas M. Eisenbach, Anna Kovner and Michael Lee
Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 196 (197,622)
Citation 7

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cyber, banks, networks, payments

13.
Downloads 172 (221,595)

The Private Premium in Public Bonds

Number of pages: 56 Posted: 09 Mar 2012 Last Revised: 22 Mar 2014
Anna Kovner and Chenyang (Jason) Wei
Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 138 (266,553)

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bonds, private, private equity

The Private Premium in Public Bonds

Number of pages: 40 Posted: 11 Mar 2012
Anna Kovner and Chenyang (Jason) Wei
Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 34 (575,405)

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Bond prices, interest rates

Do Underwriters Matter? The Impact of the Near Loss of an Equity Underwriter

Number of pages: 51 Posted: 10 Jun 2009 Last Revised: 28 May 2010
Anna Kovner
Federal Reserve Bank of New York
Downloads 94 (350,527)
Citation 2

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Investment Banking, Financial Crisis, IPOs, Underwriting, Event Study

Do Underwriters Matter? The Impact of the Near Failure of an Equity Underwriter

Number of pages: 49 Posted: 20 Jul 2010 Last Revised: 08 Feb 2011
Anna Kovner
Federal Reserve Bank of New York
Downloads 70 (418,546)
Citation 2

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investment banking, financial crisis, IPOs, underwriting, event study

15.

Evaluating Regulatory Reform: Banks’ Cost of Capital and Lending

Number of pages: 73 Posted: 20 Jun 2018 Last Revised: 29 Jul 2020
Anna Kovner and Peter Van Tassel
Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 149 (249,791)
Citation 2

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cost of capital, beta, bank regulation, Dodd-Frank Act, banks

16.

Evaluating the Information in the Federal Reserve Stress Tests

Number of pages: 51 Posted: 06 Oct 2015 Last Revised: 30 Aug 2017
Mark J. Flannery, Beverly Hirtle and Anna Kovner
University of Florida - Department of Finance, Insurance and Real Estate, Federal Reserve Bank of New York - Banking Studies Department and Federal Reserve Bank of New York
Downloads 139 (264,099)
Citation 24

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stress test, bank capital, event study

17.

Assessing Financial Stability: The Capital and Loss Assessment under Stress Scenarios (CLASS) Model

Number of pages: 95 Posted: 12 Feb 2014 Last Revised: 05 Aug 2015
Federal Reserve Bank of New York - Banking Studies Department, Federal Reserve Bank of New York, Federal Reserve Bank of Philadelphia and Federal Reserve Banks - Federal Reserve Bank of New YorkUniversity of Chicago - Department of Economics
Downloads 123 (289,715)
Citation 13

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capital, bank, stress testing, financial stability

Doing Well by Doing Good? Community Development Venture Capital

Number of pages: 39 Posted: 22 Sep 2012
Anna Kovner and Josh Lerner
Federal Reserve Bank of New York and Harvard Business School - Finance Unit
Downloads 95 (348,129)
Citation 4

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community development, venture capital

Doing Well by Doing Good? Community Development Venture Capital

Journal of Economics & Management Strategy, Vol. 24, Issue 3, pp. 643-663, 2015
Number of pages: 21 Posted: 29 Jul 2015
Anna Kovner and Josh Lerner
Federal Reserve Bank of New York and Harvard Business School - Finance Unit
Downloads 1 (839,238)
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19.
Downloads 93 (350,189)
Citation 6

The Market Events of Mid-September 2019

Number of pages: 30 Posted: 06 Mar 2020
Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York and Federal Reserve Bank of New York - Research and Statistics
Downloads 83 (379,173)
Citation 1

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federal funds market, repo market, central bank reserves, regulation, monetary policy

The Market Events of Mid-September 2019

Number of pages: 26 Posted: 02 Sep 2021
Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York and Federal Reserve Bank of New York - Research and Statistics
Downloads 10 (755,004)

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federal funds market, repo market, central bank reserves, regulation, monetary policy implementation

The Market Events of Mid-September 2019

Number of pages: 33 Posted: 25 Mar 2020
Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York and Federal Reserve Bank of New York - Research and Statistics
Downloads 0
Citation 2
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central bank reserves, Federal funds market, Monetary policy implementation, regulation, repo market

20.

It’s What You Say and What You Buy: A Holistic Evaluation of the Corporate Credit Facilities

Number of pages: 88 Posted: 21 Jul 2020 Last Revised: 10 Nov 2020
Nina Boyarchenko, Anna Kovner and Or Shachar
Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 76 (395,291)
Citation 28

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corporate credit facilities, bond liquidity, credit spreads, purchase effects

21.

It's What You Say and What You Buy: A Holistic Evaluation of the Corporate Credit Facilities

Number of pages: 89 Posted: 11 Nov 2020
Nina Boyarchenko, Anna Kovner and Or Shachar
Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 69 (416,860)

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corporate credit facilities, bond liquidity, credit spreads, purchase effects

22.

Bank Capital and Real GDP Growth

Number of pages: 50 Posted: 08 Dec 2020
Federal Reserve Bank of New York, Centre for Economic Policy Research (CEPR) and Federal Reserve Bank of New York
Downloads 58 (455,011)

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capital ratios, growth-at-risk, quantile regressions, threshold regressions

23.

Stressed Not Frozen: The Fed Funds Market in the Financial Crisis

Number of pages: 60 Posted: 15 Mar 2010 Last Revised: 10 Sep 2021
Gara Afonso, Anna Kovner and Antoinette Schoar
Federal Reserve Bank of New York, Federal Reserve Bank of New York and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 43 (516,914)
Citation 1

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24.

COVID Response: The Primary and Secondary Corporate Credit Facilities

Number of pages: 35 Posted: 29 Sep 2021
Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 36 (551,347)

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Federal Reserve, corporate bond markets, corporate credit facilities, PMCCF, SMCCF, Federal Reserve lending facilities

25.

Evaluating the Quality of Fed Funds Lending Estimates Produced from Fedwire Payments Data

Number of pages: 33 Posted: 02 Oct 2013
Anna Kovner and David R. Skeie
Federal Reserve Bank of New York and University of Warwick - Warwick Business School
Downloads 27 (602,704)
Citation 17

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federal funds market, Y-9C, data quality, interbank loans, fed funds, Fedwire

26.

COVID Response: The Commercial Paper Funding Facility

Number of pages: 13 Posted: 29 Sep 2021
Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 14 (695,028)

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Federal Reserve, commercial paper market, CPFF, Federal Reserve lending facilities

27.

Specialization and Success: Evidence from Venture Capital

Journal of Economics & Management Strategy, Vol. 18, Issue 3, pp. 817-844, Fall 2009
Number of pages: 28 Posted: 13 Oct 2009
Paul A. Gompers, Anna Kovner and Josh Lerner
Harvard Business School - Finance Unit, Federal Reserve Bank of New York and Harvard Business School - Finance Unit
Downloads 7 (750,276)
Citation 17
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28.

Macroprudential Policy: Results from a Tabletop Exercise

Number of pages: 31 Posted: 17 Jul 2019
Federal Reserve Banks - Federal Reserve Bank of Cleveland, Federal Reserve Bank of Cleveland, Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of Dallas, Federal Reserve Banks - Federal Reserve Bank of Cleveland, Federal Reserve Bank of Chicago - Economic Research, Federal Reserve Banks - Federal Reserve Bank of Minneapolis, Board of Governors of the Federal Reserve System, Federal Reserve Bank of New York and Board of Governors of the Federal Reserve System
Downloads 3 (781,486)

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financial stability, macroprudential policy, monetary policy

29.

It's What You Say and What You Buy: A Holistic Evaluation of the Corporate Credit Facilities

Number of pages: 90 Posted: 02 Dec 2020
Nina Boyarchenko, Anna Kovner and Or Shachar
Federal Reserve Bank of New York, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 1 (802,434)
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30.

Climate Change and Financial Stability

Posted: 22 Mar 2021 Last Revised: 17 Jun 2021
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of New York, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Federal Reserve Bank of New York, Federal Reserve Bank of Chicago - Economic Research and Board of Governors of the Federal Reserve System

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31.

Relationships Matter: The Importance of Relationships in the Fed Funds Market

Posted: 19 Mar 2011 Last Revised: 25 Oct 2011
Gara Afonso, Anna Kovner and Antoinette Schoar
Federal Reserve Bank of New York, Federal Reserve Bank of New York and Massachusetts Institute of Technology (MIT) - Sloan School of Management

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