Linda Allen
Professor
Zicklin School of Business
Department: Bert Wasserman Dept Eco & Fin
Areas of expertise:
Email Address: linda.allen@baruch.cuny.edu
> View CV- Biography
- Teaching
- Research and Creative Activity
- Grants
- Honors and Awards
- Service
Education
Ph.D., Economics & Finance, New York University United States
B.A., Economics, Queens College, CUNY Queens NY
| Semester | Course Prefix | Course Number | Course Name |
|---|---|---|---|
| Spring 2024 | BUS | 90000 | Dissertation Supervision |
| Spring 2024 | FIN | 85700 | Sem in Financial Institutions |
| Fall 2023 | BUS | 90000 | Dissertation Supervision |
| Spring 2023 | BUS | 90000 | Dissertation Supervision |
| Fall 2022 | BUS | 90000 | Dissertation Supervision |
| Spring 2022 | BUS | 90000 | Dissertation Supervision |
| Fall 2021 | BUS | 90000 | Dissertation Supervision |
| Fall 2021 | FIN | 4808 | Risk Management I |
| Spring 2021 | BUS | 90000 | Dissertation Supervision |
| Spring 2021 | FIN | 85700 | Sem in Financial Institutions |
| Spring 2021 | FIN | 4808 | Risk Management I |
| Fall 2020 | BUS | 90000 | Dissertation Supervision |
| Spring 2020 | BUS | 90000 | Dissertation Supervision |
| Fall 2019 | BUS | 90000 | Dissertation Supervision |
| Fall 2019 | FIN | 4808 | Risk Management I |
| Spring 2019 | FIN | 85700 | Sem in Financial Institutions |
| Spring 2019 | FIN | 4808 | Risk Management I |
| Spring 2019 | BUS | 90000 | Dissertation Supervision |
| Fall 2018 | BUS | 90000 | Dissertation Supervision |
| Spring 2018 | ECON | 90000 | Dissertation Supervision |
| Spring 2018 | BUS | 90000 | Dissertation Supervision |
| Fall 2017 | ECON | 90000 | Dissertation Supervision |
| Fall 2017 | FIN | 4808 | Risk Management I |
| Spring 2017 | ECON | 90000 | Dissertation Supervision |
| Spring 2017 | FIN | 85700 | Financial Institution |
| Fall 2016 | BUS | 90000 | Dissertation Supervision |
| Spring 2016 | BUS | 90000 | Dissertation Supervision |
| Spring 2016 | ECON | 90000 | Dissertation Supervision |
| Fall 2015 | BUS | 90000 | Dissertation Supervision |
| Spring 2015 | FIN | 4808 | Risk Management I |
| Spring 2015 | FIN | 85700 | Sem in Financial Institutions |
| Spring 2015 | BUS | 90000 | Dissertation Supervision |
| Fall 2014 | FIN | 4808 | Risk Management I |
| Fall 2014 | BUS | 90000 | Dissertation Supervision |
| Spring 2014 | FIN | 4808 | Risk Management I |
| Spring 2014 | BUS | 90000 | Dissertation Supervision |
| Fall 2013 | BUS | 90000 | Dissertation Supervision |
| Spring 2013 | FIN | 85700 | Sem in Financial Institutions |
| Spring 2013 | BUS | 90000 | Dissertation Supervision |
| Spring 2013 | FIN | 4808 | Risk Management I |
| Fall 2012 | BUS | 90000 | Dissertation Supervision |
| Spring 2012 | FIN | 4808 | Risk Management I |
| Spring 2011 | FIN | 4808 | Risk Management I |
| Spring 2010 | FIN | 4808 | Risk Management I |
| Spring 2009 | FIN | 4808 | Risk Management I |
| Spring 2007 | FIN | 4808 | Risk Management I |
| Spring 2006 | FIN | 4808 | Risk Management I |
| Fall 2005 | FIN | 4808 | Risk Management I |
| Fall 2004 | FIN | 4808 | Risk Management I |
| Fall 2004 | FIN | 4808 | Risk Management I |
| Spring 2004 | FIN | 4808 | Risk Management I |
| Spring 2004 | FIN | 4808 | Risk Management I |
| Fall 2003 | FIN | 4808 | Risk Management I |
| Fall 2003 | FIN | 9784 | Mgt Of Fin Inst |
| Spring 2003 | FIN | 3820 | Fin Mkts & Intermedi |
| Spring 2003 | FIN | 6002 | Honors Courses in Finance |
| Fall 2002 | FIN | 3820 | Fin Mkts & Intermedi |
| Fall 2002 | FIN | 3820 | Fin Mkts & Intermedi |
| Fall 2002 | FIN | 6001 | Honors Courses in Finance |
| Spring 2002 | FIN | 3820 | Fin Mkts & Intermedi |
| Spring 2002 | FIN | 9785 | Fin Mkts/Intermediar |
| Fall 2001 | FIN | 9785 | Fin Mkts/Intermediar |
| Fall 2001 | FIN | 3820 | Fin Mkts & Intermedi |
Books
Allen, L. (2010). Credit Risk Measurement In and Out of the Financial Crisis: New Approaches to Value at Risk and Other Paradigms. John Wiley and Sons.
Allen, L., Boudoukh, J., & Saunders, A. (2004). Understanding Market, Credit and Operational Risk: The Value at Risk Approach. (p. 254 pages). Blackwell Publishing.
Allen, L., & Saunders, A. (2002). Credit Risk Measurement: New Approaches to Value at Risk and Other Paradigms, second edition. (p. 318 Pages). New York, NY, John Wiley & Sons.
Allen, L. (1997). Capital Markets and Institutions: A Global View. New York, NY, John Wiley & Sons.
Allen, L. (1994). Financial Institutions Management: A Modern Perspective, End of Chapter Questions, Instructors Manual and Text Bank. Burr Ridge.
Allen, L. (1987). "Equilibrium Credit Rationing: A Synthesis of the Literature". Salomon Brothers Center for the Study of Financial Institutions Monograph Series in Finance and Economics.
Journal Articles
(2023). “Do CoCos Serve the Goals of Macroprudential Supervisors or Bank Managers?. Journal of International Financial Markets, Institutions and Money, 1-18.
(2023). Do CoCos Serve the Goals of Macroprudential Supervisors or Bank Managers?. Journal of International Financial Markets, Institutions and Money, 18. In Progress.
(2022). Do Fintech Lenders Fill the Credit Gap? Evidence From Local Mortgage Demand Shocks?. Journal of Financial and Quantitative Analysis,
Allen, L., & Yildirim, A. (2021). Measuring Systematic Risk from Managerial Organization Capital. Journal of Business Finance and Accounting, 2049-2072.
(2021). Measuring Systematic Risk from Managerial Organization Capital. Journal of Business Finance and Accounting, 48. 2049-2072.
(2020). The Cost of Debt for REITS: The Mortgage Puzzle. Journal of Real Estate Research, 42(2). 239-260.
Allen, L., & Letdin, M. (2020). “The Cost of Debt for REITS: The Mortgage Puzzle. Journal of Real Estate Research , 239-260.
(2020). Bank Dependence in Emerging Countires: Cross-Border Information Percolation in Mutual Fund Equity Investing. Journal of International Business Studies, 51,(2020). 218–243.
Allen, L., & Hazarika, S. (2020). Bank Dependence in Emerging Countries: Cross Border Information Percolation in Mutual Fund Equity Investing. Journal of International Business Studies, (51). 218-243.
(2020). Bank Dependence in Emerging Countries: Cross Border Information Percolation in Mutual Fund Equity Investing. Journal of International Business Studies, 51. 218-243.
(2018). Accounting for Contingent Litigation Liabilities: What You Disclose Can Be Used Against You. Virginia Law and Business Review, Winter.
N/A, L., & Letdin, M. (2018). The Cost of Debt for REITs: The Mortgage Puzzle. Journal of Real Estate Research,
Allen, L. (2018). “Accounting for Contingent Litigation Liabilities: What You Disclose Can Be Used Against You” . Virginia Law and Business Review, Winter 2018.
Allen, L., & Alan, N. S. (2016). What’s the Contingency? A Proposal for Bank Contingent Capital Triggered By Systemic Risk. Journal of Financial Stability, 26(2016). 1-14.
Allen, L. (2016). What’s the Contingency? A Proposal for Bank Contingent Capital Triggered By Systemic Risk. Journal of Financial Stability,
Allen, L. (2015). Bank Delays in the Resolution of Delinquent Mortgages: The Problem of Limbo Loans. Journal of Real Estate Research,,
(2015). Bank Delays in the Resolution of Delinquent Mortgages: The Problem of Limbo Loans. Journal of Real Estate Research, 37(1). 65-116.
(2014). Bank Delays in the Resolution of Delinquent Mortgages: The Problem of Limbo Loans. Journal of Real Estate Research,
(2012). The Impact of Joint Participation on Liquidity in the Equity and Syndicated Bank Loan Markets. Journal of Financial Intermediation, (21). 50-78.
(2008). The Information Content of Quarterly Earnings in Syndicated Bank Loan Prices. Asia-Pacific Journal of Accounting and Economics, 15(2). 91-122.
(2007). "Loan Underpricing and the Provision of Merger Advisory Services". Journal of Banking and Finance, 31. 3539-3562.
(2007). Cyclicality in Catastrophic and Operational Risk Measurments. Journal of Banking and Finance, 31.
(2007). “The Path to Basel II Adoption”. Journal of Financial Services Research, Guest editors, 26(2). 101-102.
Allen, L. (2007). Accounting for Contingent Litigation Liabilities: What You Disclose Can Be Used Against You. Virginia Law and Business Review, 2018(Winter). 21.
(2007). "Meeting Daubert Standards in Calculating Damages for Shareholder Class Action Litigation". The Business Lawyer, 62(3). 955-969.
(2006). “The Informational Efficiency of the Equity Market As Compared to the Syndicated Bank Loan Market”. Financial Services Research, 30(1). 5-42.
(2006). “A New Theoretically-Grounded Microstructure Trading Model For Calculating Damages in Shareholder Class Action Litigation”. Stanford Journal of Law, Business and Finance, 12(1). 61-83.
(2004). “The Basel Capital Accords and International Mortgage Markets: A Survey of the Literature”. Financial Markets, Institutions and Instruments, 13(2). 41-108.
(2004). “Incorporating Systemic Influences Into Risk Measurements: A Survey of the Literature,”. Journal of Financial Services Research, 26(2). 161-191.
(2004). “Issues in the Credit Risk Modeling of Retail Markets”. Journal of Banking and Finance, 28(4). 727-752.
(2004). “The Role of Commercial Bank Advisors in Mergers and Acquisitions”. Journal of Money, Credit and Banking, 36(2). 197-224.
(2002). “Tough Love in Risk Management: The Market as Financial Parent”. Journal of Economics and Business, 3-6.
(2001). “Further Evidence on the Information Content of Bank Examination Ratings: A Study of BHC-to-FHC Conversion Applications”. Journal of Financial Services Research, 20(2/3). 213-232.
(2000). “The Risk Effects of Combining Banking, Securities and Insurance Activities”. Journal of Economics and Business, 52. 485-497.
(1998). “Debt Masquerading as Preferred Stock: Reordering the Pecking Order”. Roundtable Group Online,
(1998). “Losing Your Tail on the Repo Market: The Story of Robert Citron”. The Arbitrageur, 13-20.
(1997). “Operational Efficiency in Banking: An International Comparison: Reply”. Journal of Banking and Finance, 21. 1451-1455.
(1997). “Valuation of the Operating Flexibility of Multinational Corporations,”. Journal of International Business Studies, 633-653.
(1997). “CMO, IO, PO, and Other Potentially Toxic Letters of the Alphabet,”. Corporate Finance Review, 5-11.
(1997). “Risk and Market Segmentation in Financial Intermediaries' Returns”. Journal of Financial Services Research, 12(2/3). 159-173.
(1996). “Interest Rate Risk Subsidization in International Capital Standards”. Journal of Economics and Business, 48. 251-267.
(1996). “Bank Charter Values and Capital Levels: An International Comparison”. Journal of Economics and Business, 48. 269-284.
(1996). “Operational Efficiency in Banking: An International Comparison”. Journal of Banking & Finance, 655-672.
(1994). “Deposit Insurance and Bank Closure Policy: The Israel Banking System”. Bank of Israel, Banking Review, (4). 31-55.
(1994). “Deposit Insurance and Regulatory Forbearance: Are Caps on Insured Deposits Optimal?”. Journal of Money, Credit and Banking, 26(3). 411-438.
(1993). “Economies of Scale and Scope in International Banking”. Journal of International Financial Markets, Institutions, and Money, 3(2). 1-31.
(1993). “Forbearance and Valuation of Deposit Insurance As A Callable Put”. Journal of Banking and Finance, 17. 629-643.
(1992). “Bank Window Dressing: Theory and Evidence”. Journal of Banking and Finance, 16. 335-623.
(1991). “The Pricing of Retail Deposits: Concentration and Information”. Journal of Financial Intermediation, 335-361.
(1991). “Bank Acquisition and Ownership Structure: Theory and Evidence”. Journal of Banking and Finance, 15. 425-448.
(1989). “Bank Size, Collateral and Net Purchase Behavior in the Federal Funds Market: Empirical Evidence”. Journal of Business, 62. 501-516.
(1988). “The Determinants of Bank Interest Margins: A Note”. Journal of Financial and Quantitative Analysis, 23. 231-235.
(1988). “Cash-Futures Arbitrage and Forward-Futures Spreads in the Treasury Bill Market”. Journal of Futures Markets, 8. 563-573.
(1986). “The Large-Small Bank Dichotomy in the Federal Funds Market”. Journal of Banking and Finance, 2l9-230.
Does Systemic Risk in the Financial Sector Predict Future Economic Downturns?. Review of Financial Studies, 25(10). 3000-3036.
Clawbacks and Cronyism: Evidence from China. Financial Management, 40(3). 733-756.
Foreign Direct Investment and Regulatory Remedies for Banking Crises: Lessons from Japan. Journal of International Business Studies, 42(7). 875-893.
The Role of Banks in Dividend Policy. Financial Management,
Book Chapters
Allen, L., Jagtiani, J., & Saunders, A. (2024). Risk Measurement and Management in the New Banking Landscape. Oxford's Bankers Handbook UK. Oxford University Press.
(2024). Risk Measurement and Management in the New Banking Landscape. Oxford Bankers' Handbook In Progress.
Allen, L. (2019). Private Information and Risk Management in Banking. Oxford Bankers’ Handbook (p. 20). Oxford, England,UK. Oxford University Press.
(2019). Private Information and Risk Management in Banking. Oxford Bankers' Handbook
Allen, L., & N/A, A. (2018). “Private Information and Risk Management in Banking”. “Private Information and Risk Management in BaOxford Bankers’ Handbook, A. Berger, P. Molyneux and J. Wilson, eds., Third edition, Oxford University Press
Allen, L., & Saunders, A. (2017). Private Information and Risk Management in Banking. Oxford University Press,UK. Oxford Bankers’ Handbook.
(2014). Revisiting Risk Management in Banking. Oxford Bankers' Handbook
(2013). Revisiting Risk Management in Banking. Oxford Handbook of Banking, volume 2
(2010). "Risk Management in Banking". Oxford Handbook of Banking (pp. 90-111). Oxford,England. Oxford Bankers’ Handbook.
Allen, L., Bali, T., & Tang, Y. (2004). “Cyclicality in the Catastrophic Risk of Financial Institutions,. In Cruz, M. (Ed.), Operational Risk Modelling and Analysis: Theory and Practice (pp. 209-246).
Allen, L. (2003). The BIS Basel International Bank Capital Accords. In Choi, F. D. (Ed.), International Accounting and Finance Handbook
Allen, L. (2002). “Cyclical Effects in Credit Risk Ratings and Default Risk”. In Ong, M. (Ed.), BIS Working Paper Series and in Credit Ratings: Methodologies, Rationale and Default Risk
Allen, L. (1993). Capital and Deposit Insurance Regulations. In Zissu, A., & N/A, C. (Eds.), Risk Based Capital Regulations: Asset Management and Funding Strategies
“Frontiers in Risk Management”. Oxford Bankers’ Handbook.
Patents and Intellectual Properties
Allen, L. (2011). An Arrangement For and A Method For Determining Damages in Shareholder Class Action Litigation. Regular. United States.
Presentations
Shen, Y., Allen, L., & Shan, Y. (2021, June 23). Do FinTech Mortgage Lenders Fill the Credit Gap? Evidence from Natural Disasters. IBEFA Summer Meeting. Virtual: International Banking, Economics, and Finance Association.
Shen, Y., Allen, L., & Shan, Y. (2021, July 8). Do FinTech Mortgage Lenders Fill the Credit Gap? Evidence from Natural Disasters. 2021 China International Conference in Finance.
Shen, Y., Allen, L., & Shan, Y. (2019, September 14). Do FinTech Lenders Fill the Credit Gap? Evidence from Local Mortgage Demand Shocks. NFA Annual Conference. Vancouver, Canada: Northern Finance Association.
Shen, Y., Allen, L., & Shan, Y. (2019, June 13). Do Fintech Lenders Fill the Credit Gap? Evidence from Local Mortgage Demand Shocks. 2019 FMA European Conference. Glasgow, Scotland
Shen, Y., Allen, L., & Shan, Y. (2019, October 31). Do FinTech Lenders Fill the Credit Gap? Evidence from Local Mortgage Demand Shocks. FMA 2019. New Orleans, LA: Financial Management Association.
Chakraborty, S., Allen, L., & Watanabe, W. (2010, November 30). . North East Universities Development Consortium 2010. MIT: NUEDC.
Chakraborty, S., Allen, L., & Watanabe, W. (2010, February 28). Regulatory Remedies for Banking Crises: lessons from Japan. Board of Governors of the Federal Reserve System. Washington, D.C.: Board of Governors of the Federal Reserve System.
Chakraborty, S., Allen, L., & Watanabe, W. (2010, November 30). Regulatory Remedies for Banking Crises: lessons from Japan. Rutgers University Seminar. Rutgers University: Rutgers University, Dept. of Economics (Newark Campus).
Chakraborty, S., Allen, L., & Watanabe, W. (2010, October 31). Regulatory Remedies for Banking Crises: lessons from Japan. Keio University Seminar. : Keio University.
Chakraborty, S., Allen, L., & Watanabe, W. (2010, June 30). . European Finance Association Annual Meetings. : European Finance Association.
Chakraborty, S., Allen, L., & Watanabe, W. (2010, May 31). Regulatory Remedies for Banking Crises: lessons from Japan. Financial Intermediation Workshop, Bank of International Settlements. Basel, Switzerland: Bank of International Settlements.
Chakraborty, S., Allen, L., & Watanabe, W. (2010, May 31). Regulatory Remedies for Banking Crises: lessons from Japan. North American Law and Economics Association Annual Meetings. Princeton University: North American Law and Economics Association.
Chakraborty, S., Allen, L., & Watanabe, W. (2010, April 30). Regulatory Remedies for Banking Crises: lessons from Japan. Midwest Macroeconomics Meetings 2010. Michigan State University: Michigan State University (Organizer).
Chakraborty, S., Allen, L., & Watanabe, W. (2009, November 30). Regulatory Remedies for Banking Crises: lessons from Japan. Macroeconomics Colloquium- CUNY Graduate Center. CUNY Graduate Center: CUNY Graduate Center.
Allen, L. (2008, December 31). The Credit Crisis – How Did We Get Here, Where Are We Going?. New York, NY: Baruch College Fund Trustees.
Allen, L. (2008, December 31). Risk: Keeping Ahead of the Curve. : Royal Bank of Scotland Private Banking Academy.
Allen, L. (2008, December 31). Risk: Keeping Ahead of the Curve. Kansas City, Missouri: Henry W. Bloch School of Business University of Missouri Kansas City.
Allen, L. (2008, March 31). Risk: Keeping Ahead of the Curve. : DePaul University.
Allen, L. (2008, March 31). Risk: Keeping Ahead of the Curve. Chicago, IL: Federal Reserve Bank of Chicago.
Allen, L. (2007, December 31). Risk: Keeping Ahead of the Curve. : Royal Bank of Scotland Private Banking Academy.
Allen, L. (2007, December 31). . NYU/Federal Reserve Conference. New York, NY: New York University/Federal Reserve Bank.
Allen, L. (2006, December 31). . Financial Management Association. New York, NY
Allen, L. (2006, December 31). The Credit Crisis – How Did We Get Here, Where Are We Going?. NYU/Federal Reserve Conference. New York, NY: New York University/Federal Reserve Bank.
Allen, L. (2005, December 31). . Financial Management Association. New York, NY
Allen, L. (2005, December 31). The Credit Crisis – How Did We Get Here, Where Are We Going?. NYU/Federal Reserve Conference. New York, NY: New York University/Federal Reserve Bank.
Allen, L. (2004, December 31). “Comment on “Evidence on the Efficacy of Interest Rate Risk Disclosures by Commercial Banks”. : International Journal of Accounting.
Allen, L. (2002, December 31). “Comments on ‘Credit Ratings and the BIS Reform Agenda,’”. : Global Financial System.
Allen, L. (1992, December 31). “Joint Ventures in Poland: A Discussion”. : Business Finance in Less Developed Countries.
Allen, L. “Does Systemic Risk in the Financial Sector Predict Future Economic Downturns?”. The Global Financial Crisis. New York: RFS/NYU/NY Federal Reserve.
Other Scholarly Works
Shen, Y., Shan, Y., & Allen, L. (2020). Do FinTech Lenders Fill the Credit Gap? Evidence from Local Mortgage Demand Shocks.
Allen, L., Peng, L., & N/A, Y. S. (2019). Social Interactions and Peer-to-Peer Lending Decisions.
In Progress.Research Currently in Progess
Allen, L., Golfari, A., & Won, J.(n.d.). A Pecking Order in Contingent Convertible Bond Financing. In Progress.
Allen, L., Shan, Y., & Tang, Y.(n.d.). How Much Fintech is in Your Bank? The Fintech Footprint in Bank Returns. In Progress.
Traditional banks provide a myriad of services to online financial startups that integrates Fintech into established financial services firms. We utilize principal component analysis applied to Call Report data to develop an empirical metric, the “Fintech score,” which measures the interconnectedness between a traditional bank and Fintech services. We study the relationship between the Fintech score and bank stock returns, and find that bank diversification into Fintech lowers bank risk and future stock returns.
Allen, L., & Peng, L.(n.d.). Social Networks and Credit Allocation on FinTech Lending Platforms. In Progress.
| Honor / Award | Organization Sponsor | Date Received | Description |
|---|---|---|---|
| William F. Aldinger Chair in Banking and Finance | 2011 | This endowed chair enables me to contribute to the School, the College, CUNY and the broader community by supporting my research activities. | |
| Presidential Professor of Finance | Baruch College | 2007 |
College
| Committee Name | Position Role | Start Date | End Date |
|---|---|---|---|
| Baruch FEI CFO Survey | Baruch College Representative | Present | |
| Executive Committee Dept. of Economics and Finance | Committee Member | Present | |
| External Relations | Committee Chair | Present | |
| Executive Committee Real Estate Department | Committee Member | Present | |
| Executive committee | Committee Member | 12/31/2013 | |
| Executive Committee | Committee Member | 12/31/2013 | |
| PSC-CUNY Research Award Economics and Finance | Committee Chair | 12/31/2001 | |
| General Faculty | Secretary | 12/31/1996 | |
| Ad Hoc Bylaws Committee | Committee Chair | 12/31/1996 | |
| Committee on Committees | Committee Member | 8/31/1995 | |
| Faculty Senate | Secretary | 12/31/1994 |
University
| Committee Name | Position Role | Start Date | End Date |
|---|---|---|---|
| PSC-CUNY Award Review | Committee Chair | Present |
Professional
| Organization | Position Role | Organization State | Organization Country | Start Date | End Date | Audience |
|---|---|---|---|---|---|---|
| American Finance Association | Member | Present | ||||
| Financial Management Association | Member | Present | ||||
| Journal of Economics and Business | Editor, Associate Editor | Present | ||||
| Journal of International Business Studies | Editor, Associate Editor | Present | ||||
| FMA Program Committee | Committee Member | 1/1/2010 | Present | |||
| Journal of Credit Risk | Editor, Journal Editor | 11/30/2019 |