Narrow search
Showing 1 - 10 of 143
Cover Image
Liquidity and Expected Returns: Lessons from Emerging Markets
Bekaert, Geert; Harvey, Campbell; Lundblad, Christian T - C.E.P.R. Discussion Papers - 2006
Given the cross-sectional and temporal variation in their liquidity, emerging equity markets provide an ideal setting to examine the impact of liquidity on expected returns. Our main liquidity measure is a transformation of the proportion of zero daily firm returns, averaged over the month. We...
Persistent link: https://www.econbiz.de/10005792280
Cover Image
Short- and Long-term Hedging for the Corporation
Dumas, Bernard J - C.E.P.R. Discussion Papers - 1994
of a particular future cash flow involves a forward contract equal but opposite in sign to the exposure of the cash flow …
Persistent link: https://www.econbiz.de/10005136503
Cover Image
In Search of New Foundations
Zingales, Luigi - C.E.P.R. Discussion Papers - 2000
In this paper I argue that corporate finance theory, empirical research, practical applications, and policy … change the way we do corporate finance, both theoretically and empirically. …
Persistent link: https://www.econbiz.de/10005792089
Cover Image
The Corporate Governance Role of the Media
Dyck, Alexander; Zingales, Luigi - C.E.P.R. Discussion Papers - 2002
In this Paper we discuss the role of the media in pressuring corporate managers and directors to behave in ways that … anecdotal and systematic evidence that media affect companies’ policy toward the environment and the amount of corporate … focus of the corporate governance debate and for the feasibility of reforms aimed at improving corporate governance around …
Persistent link: https://www.econbiz.de/10005497765
Cover Image
Global Banking and International Business Cycles
Enders, Zeno; Kollmann, Robert; Müller, Gernot - C.E.P.R. Discussion Papers - 2010
This paper incorporates a global bank into a two-country business cycle model. The bank collects deposits from households and makes loans to entrepreneurs, in both countries. It has to finance a fraction of loans using equity. We investigate how such a bank capital requirement affects the...
Persistent link: https://www.econbiz.de/10008611009
Cover Image
A Decade of Debt
Reinhart, Carmen M.; Rogoff, Kenneth - C.E.P.R. Discussion Papers - 2011
This paper presents evidence that public debts in the advanced economies have surged in recent years to levels not recorded since the end of World War II, surpassing the heights reached during the First World War and the Great Depression. At the same time, private debt levels, particularly those...
Persistent link: https://www.econbiz.de/10008925708
Cover Image
Poultry in Motion: A Study of International Trade Finance Practices
Antràs, Pol; Foley, C. Fritz - C.E.P.R. Discussion Papers - 2011
and by the possibility that an exporter does not deliver goods as specified in the contract. The empirical results …
Persistent link: https://www.econbiz.de/10009131674
Cover Image
Global crises and equity market contagion
Bekaert, Geert; Ehrmann, Michael; Fratzscher, Marcel; … - C.E.P.R. Discussion Papers - 2011
Using the 2007-2009 financial crisis as a laboratory, we analyze the transmission of crises to country-industry equity portfolios in 55 countries. We use an asset pricing framework with global and local factors to predict crisis returns, defining unexplained increases in factor loadings as...
Persistent link: https://www.econbiz.de/10009148883
Cover Image
Capital Flows, Push versus Pull Factors and the Global Financial Crisis
Fratzscher, Marcel - C.E.P.R. Discussion Papers - 2011
The causes of the 2008 collapse and subsequent surge in global capital flows remain an open and highly controversial issue. Employing a factor model coupled with a dataset of high-frequency portfolio capital flows to 50 economies, the paper finds that common shocks--key crisis events as well as...
Persistent link: https://www.econbiz.de/10009207523
Cover Image
Identifying the Global Transmission of the 2007-09 Financial Crisis in a GVAR Model
Chudik, Alexander; Fratzscher, Marcel - C.E.P.R. Discussion Papers - 2010
The paper analyses and compares the role that the tightening in liquidity conditions and the collapse in risk appetite played for the global transmission of the financial crisis. Dealing with identification and the large dimensionality of the empirical exercise with a Global VAR approach, the...
Persistent link: https://www.econbiz.de/10008692308