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Begenau, Juliane - 2020

We document five facts about banks: (1) market and book leverage diverged during the 2008 crisis, (2) Tobin's Q predicts future profitability, (3) neither book nor market leverage appears constrained, (4) banks maintain a market leverage target that is reached slowly, (5) pre-crisis, leverage...

Persistent link: https://www.econbiz.de/10012482155

Transparency, Risk Management and International Financial Fragility

Draghi, Mario - 2003

Discussions of financial risk often fail to distinguish between risks that are consciously borne and those that are not. To understand the breeding conditions for financial crises the prime focus of concern should not be simply on large risk-taking per se, but on the unintended, or unanticipated...

Persistent link: https://www.econbiz.de/10012468892

Production, Trade, and Cross-Border Data Flows

Chang, Qing; Cong, Lin William; Liyong, Wang; Zhang, … - National Bureau of Economic Research - 2023

-existing development gaps in data economies on each country's production and international trade. Raw data as byproducts of consumption can … or even freeze trade. Cross-border data flows mitigate the situation and improve welfare when added to international … international trade and data flows, contributing more raw data from which the data-efficient countries generate knowledge for …

Persistent link: https://www.econbiz.de/10014322803

The Effect of New Information Technologies on Asset Pricing Anomalies

Hirshleifer, David; Ma, Liang - National Bureau of Economic Research - 2024

We test and compare the effects of introduction of two new financial information technologies, EDGAR and XBRL, on well-known asset pricing anomalies often attributed to mispricing. EDGAR facilitates easier access to public accounting information about public firms; XBRL reduces the cost of...

Persistent link: https://www.econbiz.de/10015056093

Tips and Tells from Managers : How Analysts and the Market Read Between the Lines of Conference Calls

Druz, Marina - 2015

Stock prices react significantly to the tone (negativity of words) managers use on earnings conference calls. This reaction reflects reasonably rational use of information. "Tone surprise" - the residual when negativity in managerial tone is regressed on the firm's recent economic performance...

Persistent link: https://www.econbiz.de/10012457675

International dimensions of monetary policy : [... presented at the NBER Conference "International Dimensions of Monetary Policy", which was held June 11 through 13, 2007 ... in th...

Galí, Jordi (contributor); Gertler, Mark (contributor) - 2009

Persistent link: https://www.econbiz.de/10003825525

Dimensions of Credit Risk and Their Relationship to Economic Capital Requirements

Carey, Mark - 2000

Now in prospect is a major revision of international bank capital regulations that would embody recent advances in …

Persistent link: https://www.econbiz.de/10012471142

Geographic Localization of International Technology Diffusion

Keller, Wolfgang - 2000

Convergence in per capita income across countries turns on whether technological knowledge spillover are global or local. This paper estimates the amount of spillover from R&D expenditures in major industrialized countries on a geographic basis. A new data set is used which encompasses most of...

Persistent link: https://www.econbiz.de/10012471267

The Determinants of Cross-Border Equity Flows

Portes, Richard - 1999

information heavily determines the pattern of international transactions. Our model integrates elements of the finance literature … on portfolio composition and the international macroeconomics and asset trade literature. Gross asset flows depend on …

Persistent link: https://www.econbiz.de/10012471448

Tax reform, delocation and heterogeneous firms

Baldwin, Richard - 2009

The standard international tax model is extended to allow for heterogeneous firms when agglomeration forces are …

Persistent link: https://www.econbiz.de/10012463541