Varmaz, Armin; Fieberg, Christian; Prokop, Jörg - In: The Journal of Risk Finance 16 (2015) 5, pp. 498-518
Purpose – This paper aims to analyze the impact of conjectural “too-big-to-fail” (TBTF) guarantees on big and small US financial institutions’ stock prices during the 2008-2009 banking crisis. Design/methodology/approach – The paper analyzes shocks to stock market investors’...