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An Empirical Analysis of Market Reaction Around the Bonus Issues in India

Mishra, Asim - EconWPA - 2005

Past researches have revealed significant abnormal returns for bonus issues even though the bonus issue date is known in advance and the distribution contains no new information. This study examines the stock price reaction to the information content of bonus issues with a view of examining the...

Persistent link: https://www.econbiz.de/10005134827

An Empirical Analasis of Market reaction Around the Bonus Issues in India

Mishra, Asim - EconWPA - 2005

Persistent link: https://www.econbiz.de/10005413084

Exogenous shocks and real estate rental markets: An event study of the 9/11 attacks and their impact on the New York office market

Fuerst, Franz - EconWPA - 2005

Any attempt to measure the impact of the 9/11 attacks is faced with the difficulty of separating the effects of the attacks from the impact of a wider economic recession and other simultaneous events. This study attempts to isolate the effect on New York office rental and vacancy rates by...

Persistent link: https://www.econbiz.de/10005561660

MERGERS AND ACQUISITIONS IN THE PORTUGUESE BANKING INDUSTRY: IS IT THERE A PROCESS OF VALUE CREATION?

Silva, Jacinto Vidigal da; Diz, Miguel - EconWPA - 2005

This paper examines the valuation effects of mergers & acquisitions in the Portuguese banking industry from 1995 to 2003 over a 41-day (-20, +20) event window. Evidence shows some targets gains, but no gains for the bidders. The combined entity (target+bidder) shows no significant gains...

Persistent link: https://www.econbiz.de/10005561758

What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm

Neuberger, Doris - EconWPA - 2005

The financial systems in continental Europe are moving from bank intermediation to intermediation by non-bank institutional investors. The present paper examines to what extent this implies a substitution of relationship finance by arm’s length finance or just of one form of relationship...

Persistent link: https://www.econbiz.de/10005134639

What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm

Neuberger, Doris - EconWPA - 2005

The financial systems in continental Europe are subject to profound changes in the institutions of market exchange. Banks traditionally holding close relationships with firms are substituted by non-bank institutional investors. The present paper examines whether this implies a substitution of...

Persistent link: https://www.econbiz.de/10005134668

What’s Common to Relationship Banking and Relationship Investing? Reflections within the Contractual Theory of the Firm

Neuberger, Doris - EconWPA - 2005

Persistent link: https://www.econbiz.de/10005134829

Collateral Constraints in a Monetary Economy

Cordoba, Juan Carlos; Ripoll, Marla - EconWPA - 2003

This paper studies the role of collateral constraints in transforming small monetary shocks into large persistent output fluctuations. We do this by introducing money in the heterogeneous-agent real economy of Kiyotaki and Moore (1997). Money enters in a cash-in-advance constraint and is...

Persistent link: https://www.econbiz.de/10005126270

An Investigation of the Gains from Commitment in Monetary Policy

Schaumburg, Ernst; Tambalotti, Andrea - EconWPA - 2003

degrees of credibility, in which commitment and discretion become special cases of what we call quasi commitment. The monetary … measure of the (lack of) credibility of the monetary policy authority, we investigate the welfare effect of a marginal … increase in credibility. Our main finding is that, in a simple model of the monetary transmission mechanism, most of the gains …

Persistent link: https://www.econbiz.de/10005076809

Sustaining Imperfectly Credible Trade Liberalization: Do the Rate of Tariff Reduction and the Degree of Labor Mobility Matter?

Tatum, Robert C. - EconWPA - 2005

Imperfectly credible trade liberalization can lead to balance of payment deterioration and a subsequent reversal of the reform. Therefore, this paper examines whether the likelihood of policy reversal depends on the rate of tariff reduction or the degree of labor mobility. The analysis shows...

Persistent link: https://www.econbiz.de/10005125497