Sakya Sarkar

PhD Candidate, Finance and Business Economics, USC Marshall School of Business

Master of Technology and Bachelor of Technology, IIT Kharagpur




How Large Are the Coinsurance Benefits of Mergers?

Using a structural model, I simulate the value gain from coinsurance when two firms merge. The simulated gains for most mergers are small, smaller than what would be if firms merged randomly, suggesting that coinsurance is not the primary motivation for most mergers. Surprisingly, the few mergers that are high in coinsurance are not necessarily diversifying. Not cash-flow-correlation, but target leverage and relative size predict coinsurance better. When the merger is announced, the cumulative abnormal return increases 1.25% for every 1% simulated value gain from coinsurance. This suggests that stock holders benefit from coinsurance, contradicting the previous literature.


Forecasting Bond Rating Downgrade using a Modified Version of Merton's Model


Corporate finance : Mergers and Acquisitions, Corporate Diversification, Coinsurance, Cash credit Risk Merton's model, Bond rating transition models


Research Assistant to Professor Aris Protopapadakis (three years from Fall 2009 to Spring 2012)

Research Assistant to Professor Larry Harris (one year from Fall 2011 to Spring 2012)


Assistant Lecturer: Summer 2013, BUAD 306: Business Finance ,USC Marshall

Teaching Assistant:

GSBA 612: Selected Issues in Economic Theory II (PhD course) USC Marshall, Spring 2013

GSBA602: Selected Issues in Economic Theory (PhD course), USC Marshall, Fall 2012


USC Graduate Symposium (Social Sciences), April 2014

USC Finance and Business Economics Brownbag Seminar, October 2013


Doctoral Student Travel Grant (American Finance Association) 2013

Graduate Assistantship, (USC Marshall School of Business) 2009-2013

Certificate of Recognition (USC Viterbi School of Engineering) 2007

Jagadis Bose National Science Talent Search (JBNSTS) Scholar,2005

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