Viral Acharya

New York University and CEPR

Viral V Acharya is the CV Starr Professor of Economics in the Department of Finance at New York University Stern School of Business (NYU-Stern). He is also the Program Director for Financial Economics and a Research Affiliate at the Centre for Economic Policy Research (CEPR); a member of Advisory Scientific Committee of European Systemic Risk Board (ESRB), Advisory Committee of Financial Sector Legislative Reforms Commission (FSLRC) of India, International Advisory Board of the Securities and Exchange Board of India (SEBI), and Advisory Council of the Bombay (Mumbai) Stock Exchange (BSE) Training Institute; and, an Academic Advisor to the Federal Reserve Banks of Chicago, Cleveland, New York and Philadelphia, and the Board of Governors.  In addition, he is a Research Associate of the National Bureau of Economic Research (NBER) in Corporate Finance and Research Associate of the European Corporate Governance Institute (ECGI).

Viral completed Bachelor of Technology in Computer Science and Engineering from Indian Institute of Technology, Mumbai in 1995 and Ph.D. in Finance from NYU-Stern in 2001.  Prior to joining Stern, he was at London Business School (2001-2008), the Academic Director of the Coller Institute of Private Equity at LBS (2007-09) and a Senior Houblon-Normal Research Fellow at the Bank of England (Summer 2008). 

Viral’s primary research interest is in theoretical and empirical analysis of systemic risk of the financial sector, its regulation and its genesis in government-induced distortions, an inquiry that cuts across several other strands of research – credit risk and liquidity risk, their interactions and agency-theoretic foundations, as well as their general equilibrium consequences.  He has published articles in the American Economic Review, Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Business, Journal of Financial Intermediation, Rand Journal of Economics, Journal of Monetary Economics, Journal of Money, Credit and Banking, and Financial Analysts Journal. He is a current editor of the Journal of Financial Intermediation (2009-) and associate editor of the Journal of Finance (2011-), Review of Corporate Finance Studies (RCFS, 2011-) and Review of Finance (2006-).

Viral is the recipient of the Best Paper Award in Corporate Finance - Journal of Financial Economics, 2000, Best Paper Award in Equity Trading - Western Finance Association Meetings, 2003, Outstanding Referee Award for the Review of Financial Studies, 2003, the inaugural Lawrence G. Goldberg Prize for the Best PhD in Financial Intermediation, Best Paper Award in Capital Markets and Asset Pricing - Journal of Financial Economics, 2005 (First Prize) and 2007 (Second Prize), the inaugural Rising Star in Finance (one of four) Award, 2008, European Corporate Governance Institute's Best Paper on Corporate Governance, 2008, Distinguished Referee Award for the Review of Financial Studies, 2009, III Jaime Fernandez de Araoz Award in Corporate Finance, 2009, Viz Risk Management Prize for the Best Paper on Energy Markets, Securities, and Prices at the European Finance Association Meetings, 2009, Excellence in Refereeing Award for the American Economic Review, 2009, 2010, Review of Finance Best Paper Award, 2009, Best Conference Paper Award at the European Finance Association Meetings, 2010, the 2011 Inaugural TCFA (The Chinese Finance Association) Award for the Best Paper on Global Financial Markets, and the inaugural Banque de France – Toulouse School of Economics Junior Prize in Monetary Economics and Finance, 2011.

At Stern, Viral co-edited the books Restoring Financial Stability: How to Repair a Failed System, John Wiley & Sons, March 2009, Regulating Wall Street: The Dodd-Frank Act and the New Architecture of Global Finance, John Wiley & Sons, November 2010, and Dodd-Frank: One Year On, NYU-Stern and CEPR (released on voxeu.org), July 2011.  He is also the co-author of the book Guaranteed to Fail: Fannie Mae, Freddie Mac and the Debacle of Mortgage Finance, Princeton University Press, March 2011 and Harper Collins (India), June 2011.  He is the current PhD coordinator in the Finance department at Stern.