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Distressed Acquisitions : Evidence from European Emerging Markets
Iwasaki, Ichiro; Kočenda, Evžen; Shida, Yoshisada - 2021
probability of distressed acquisitions, followed by corruption control and progress in banking reforms. The impact of institutions …
Persistent link: https://www.econbiz.de/10013231968
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International financial integration and real exchange rate long-run dynamics in emerging countries : some panel evidence
Caporale, Guglielmo Maria; Amor, Thouraya Hadj; Rault, … - 2009
The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004,...
Persistent link: https://www.econbiz.de/10010266058
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Bank Consolidation, Interest Rates, and Risk : A Post-Merger Analysis Based on Loan-Level Data from the Corporate Sector
Juranek, Steffen; Nilsen, Øivind Anti; Ulsaker, Simen A. - 2021
In this paper we analyse the bank merger between DnB and Gjensidige Bank in 2003, ranked by market share as number one … and number three in the Norwegian bank market. Focusing on loans to firms, our difference-in-differences analysis shows no … effects of mergers and acquisitions in the banking sector to be modest …
Persistent link: https://www.econbiz.de/10013310766
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Uncertainty and the Cost of Bank vs. Bond Finance
Grimme, Christian - 2019
How does uncertainty affect the costs of raising finance in the bond market and via bank loans? Empirically, this paper … finds that heightened uncertainty is accompanied by an increase in corporate bond yields and a decrease in bank lending … risk of firm default …
Persistent link: https://www.econbiz.de/10012892132
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Up or down? Capital income taxation in the United States and the United Kingdom
Polito, Vito - 2010
take into account financial constraints on dividend policy faced by firms investing in both the United States and the … United Kingdom. The paper incorporates financial constraints on dividend policy into the analytical framework for the …
Persistent link: https://www.econbiz.de/10010274779
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Oil Price Fluctuations and Exchange Rate Dynamics in the MENA Region : Evidence from Non-Causality-in-Variance and Asymmetric Non-Causality Tests
Nouira, Ridha - 2018
The aim of this paper is to investigate the exchange rate consequences of oil-price fluctuations and to test for the dynamics of oil price volatility by examining interactions between oil market and exchange rate in selected MENA countries (Egypt, Jordan, Morocco, Qatar, Saudi Arabia, Tunisia,...
Persistent link: https://www.econbiz.de/10012908723
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How Economic, Political and Institutional Factors Influence the Choice of Exchange Rate Regimes? New Evidence from Selected Countries of the MENA Region
Maraoui, Nejia; Amor, Thouraya Hadj; Khefacha, Islem; … - 2022
In this paper, we investigate how economic, political and institutional factors affect the choice of exchange rate regimes, using data on eight MENA (Middle East and North Africa) countries over the 1984-2016 period. Specifically, we run random-effects ordered probit regressions of the...
Persistent link: https://www.econbiz.de/10013291704
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Yield Curve and Financial Uncertainty : Evidence Based on Us Data
Castelnuovo, Efrem - 2019
How do short and long term interest rates respond to a jump in financial uncertainty? We address this question by conducting a local projections analysis with US monthly data, period: 1962-2018. The state-of-the-art financial uncertainty measure proposed by Ludvigson, Ma, and Ng (2019) is found...
Persistent link: https://www.econbiz.de/10012867014
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Cross-Country Unemployment Insurance, Transfers, and Trade-Offs in International Risk Sharing
Enders, Zeno; Vespermann, David - 2021
We assess to which degree an international transfer mechanism can enhance consumption risk sharing as well as … analyze the changing dynamics that a EUBS brings about. We find that a EUBS can provide risk sharing by stabilizing relative …-spending shocks. Yet, since this trade-off between allocative efficiency and consumption risk sharing does not exist after certain …
Persistent link: https://www.econbiz.de/10013236196
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The Impact of Aggregate Uncertainty on Firm-Level Uncertainty
Easaw, Joshy; Grimme, Christian - 2021
We analyse the extent to which firm-level uncertainty is affected by aggregate uncertainty. Firm-level uncertainty is constructed from a large and monthly panel dataset of manufacturing firms. We find that aggregate uncertainty has a positive and robust impact on firm-level uncertainty. This...
Persistent link: https://www.econbiz.de/10013239562