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Cross comparison and modelling of Goldman Sachs, Morgan Stanley, JPMorgan Chase, Bank of America, and Franklin Resources

Kitov, Ivan - Volkswirtschaftliche Fakultät, … - 2012

We have studied statistical characteristics of five share price time series. For each stock price, we estimated a best fit quantitative model for the monthly closing price as based on the decomposition into two defining consumer price indices selected from a large set of CPIs. It was found that...

Persistent link: https://www.econbiz.de/10011113939

Revisiting the merger and acquisition performance of European banks

Asimakopoulos, Ioannis; Athanasoglou, Panayiotis P. - Volkswirtschaftliche Fakultät, … - 2009

The study examines the value creation of Merger and Acquisition (M&A) deals in European Banking from 1990-2004. This is performed, first, by examining the stock price reaction of banks to the announcement of M&A deals and, second, by analysing the determinants of this reaction. The findings...

Persistent link: https://www.econbiz.de/10009151561

Treasury cash flows in the enterprise

Caruntu, Genu Alexandru; Romanescu, Marcel Laurentiu - Volkswirtschaftliche Fakultät, … - 2008

Treasury allows to appreciate the enterprise's performance, having also a strategic role in terms of its training level and usage manners. Release (training) of treasury (cash-flow) is the proof of the strategic position of enterprise in relation to its products, its markets, its competitors and...

Persistent link: https://www.econbiz.de/10005790410

Modeling share prices of banks and bankrupts

Kitov, Ivan - Volkswirtschaftliche Fakultät, … - 2010

Share prices of financial companies from the S&P 500 list have been modeled by a linear function of consumer price indices in the USA. The Johansen and Engle-Granger tests for cointegration both demonstrated the presence of an equilibrium long-term relation between observed and predicted time...

Persistent link: https://www.econbiz.de/10008562631

Stock Price Manipulation: The Role of Intermediaries

Siddiqi, Hammad - Volkswirtschaftliche Fakultät, … - 2007

We model stock price manipulation when the manipulator is in the role of an intermediary (broker). We find that in the absence of superior information, the broker can manipulate equilibrium outcomes without losing credibility with respect to accurate forecasting. This result extends to the case...

Persistent link: https://www.econbiz.de/10005621637

The aftermarket pricing performance of initial public offers: Insights from India

Reddy, K. Srinivasa - Volkswirtschaftliche Fakultät, … - 2011

Purpose: The purpose of this paper is to examine the underpricing of initial public offers (IPOs), which were announced by Indian firms for the period 2007 through 2009. It is motivated by the fact that a well-developed capital market is a function of economic growth and a reflection of the...

Persistent link: https://www.econbiz.de/10011210490

Liquidity changes around bonus and rights issue announcements: Evidence from manufacturing and service sectors in India

Malhotra, Madhuri Malhotra; M., Thenmozhi; Gopalaswamy, … - Volkswirtschaftliche Fakultät, … - 2012

This paper examines the stock price liquidity changes before and after the bonus and rights issue announcements …. Liquidity measured using raw trading volume ratio, relative trading volume ratio and liquidity ratio suggest that raw trading … liquidity ratio, has significantly decreased after the bonus and rights issue announcement in the Indian stock market. There is …

Persistent link: https://www.econbiz.de/10011110960

Investible benchmarks & hedge fund liquidity

Freed, Marc S; McMillan, Ben - Volkswirtschaftliche Fakultät, … - 2011

of liquidity options that investors implicitly grant managers when they invest may account for part or even all hedge …

Persistent link: https://www.econbiz.de/10009226946

Industry Shocks, Operating Risk, and Corporate Financial Policies around the World

Makaew, Tanakorn; Maksimovic, Vojislav - Volkswirtschaftliche Fakultät, … - 2013

Although developing economies are more volatile, firms in developed countries hold more cash and less debt. We show that despite greater aggregate and industry stability, the performance and balance sheets of individual firms in developed countries are more volatile. In developing countries,...

Persistent link: https://www.econbiz.de/10011113771

A Comparative Analysis of the Legal Obstacles to Institutional Investor Activism in Europe and in the US

Santella, Paolo; Baffi, Enrico; Drago, Carlo; Lattuca, Dino - Volkswirtschaftliche Fakultät, … - 2008

Starting from the observation that at the multilateral level shareholder activism is considered as an important aspect of good corporate governance, this paper examines several legal and economic obstacles to institutional investor activism in the EU and in the US. We also examine the voting...

Persistent link: https://www.econbiz.de/10005836299