Similar Search Results

Did fair-value accounting contribute to the financial crisis?

Laux, Christian; Leuz, Christian - Center for Financial Studies - 2009

The recent financial crisis has led to a major debate about fair-value accounting. Many critics have argued that fair-value accounting, often also called mark-to-market accounting, has significantly contributed to the financial crisis or, at least, exacerbated its severity. In this paper, we...

Persistent link: https://www.econbiz.de/10010958489

The crisis of fair value accounting: Making sense of the recent debate

Laux, Christian; Leuz, Christian - Center for Financial Studies - 2009

The recent financial crisis has led to a vigorous debate about the pros and cons of fair-value accounting (FVA). This debate presents a major challenge for FVA going forward and standard setters' push to extend FVA into other areas. In this article, we highlight four important issues as an...

Persistent link: https://www.econbiz.de/10010958757

Der Euro in stürmischen Zeiten : Beiträge von Otmar Issing zur Wirtschafts- und Währungspolitik am Center for Financial Studies 2006-2015

Issing, Otmar - Center for Financial Studies - 2016

Persistent link: https://www.econbiz.de/10011478326

Wiederaufbau der Finanzmärkte

Ackermann, Josef (contributor) - 2012

Persistent link: https://www.econbiz.de/10013439726

High frequency trading and end-of-day price dislocation

Aitken, Michael; Cumming, Douglas; Zhan, Feng - Center for Financial Studies - 2013

We show that the presence of high frequency trading (HFT) has significantly mitigated the frequency and severity of end-of-day price dislocation, counter to recent concerns expressed in the media. The effect of HFT is more pronounced on days when end of day price dislocation is more likely to be...

Persistent link: https://www.econbiz.de/10010958725

Die Betreuer am Neuen Markt: eine empirische Analyse

Gerke, Wolfgang; Bosch, Robert - Center for Financial Studies - 1999

Die Betreuer am neuen Markt sollen die Effizienz des Handels durch Bereitstellung zusätzlicher Liquidität erhöhen. Die vorliegende Studie untersucht den Liquiditätsbeitrag der Betreuer in zwei aufeinanderfolgenden Jahren. Die Beteiligung der Betreuer am Umsatz des Marktes hat im beobachteten...

Persistent link: https://www.econbiz.de/10010986407

Quantifying high-frequency market reactions to real-time news sentiment announcements

Groß-Klußmann, Axel; Hautsch, Nikolaus - Center for Financial Studies - 2009

direction of company-specific news. Information-implied reactions in returns, volatility as well as liquidity demand and supply …, this is only true if news items are classified as highly relevant. Liquidity supply reacts less distinctly due to a …

Persistent link: https://www.econbiz.de/10010986436

Credit risk transfers and the macroeconomy

Faia, Ester - Center for Financial Studies - 2010

credit risk transfer. The possibility of transferring credit reduces the impact of liquidity shocks on bank balance sheets …

Persistent link: https://www.econbiz.de/10010986438

Price pressures

Hendershott, Terrence; Menkveld, Albert J. - Center for Financial Studies - 2010

supplying liquidity to asynchronously arriving investors. Empirically, twelve years of daily New York Stock Exchange …

Persistent link: https://www.econbiz.de/10010958491

The diminishing liquidity premium

Ben-Rephael, Azi; Kadan, Ohad; Wohl, Avi - Center for Financial Studies - 2008

that both the sensitivity of returns to liquidity and liquidity premia have significantly declined over the past four … strategies virtually unprofitable. Our results are robust to several conventional liquidity measures related to volume. When … using liquidity measure that is not related to volume, we find just weak evidence of a liquidity premium even in the early …

Persistent link: https://www.econbiz.de/10010958533