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The Heterogeneous Impact of Brexit : Early Indications from the FTSE

Davies, Ronald B. - 2017

The UK's decision to leave the EU is surrounded by several studies simulating its potential effects. Alternatively, we examine expectations embodied in stock returns using a two-part estimation process. While most firms' prices fell, there was considerable heterogeneity in their relative...

Persistent link: https://www.econbiz.de/10012954358

Investment and Financing Strategy of a Multinational Enterprise Under Alternative Tax Designs

Gerard, Marcel - 2012

multinational enterprise regarding the cross border distribution of its investment and the choice of its financing behavior. We …

Persistent link: https://www.econbiz.de/10013104836

Competition for Natural Resources and the Hold-Up Problem

Hefeker, Carsten - 2016

We study the role of competition for the hold-up problem in foreign direct investment in resource-based industries. The … host country government is not only unable to commit not to expropriate investment ex post, but is also unable to commit to … higher investment levels and increases host country revenues, but hurts profits of international investors …

Persistent link: https://www.econbiz.de/10012979104

Evaluating the Effects of ACE Systems on Multinational Debt Financing and Investment

Hebous, Shafik - 2015

, passive investment, and active investment of multinational firms, using high-quality administrative data on virtually all … multinational affiliates. Additionally, an ACE increases intra-group lending and other forms of passive investment but has no … effects on production investment of multinational affiliates. The findings indicate that a unilateral implementation of an ACE …

Persistent link: https://www.econbiz.de/10013021715

Monetary Policy Through Production Networks : Evidence from the Stock Market

Ozdagli, Ali K. - 2017

Monetary policy shocks have a large impact on aggregate stock market returns in narrow event windows around press releases by the Federal Open Market Committee. We use spatial autoregressions to decompose the overall effect of monetary policy shocks into a direct (demand) effect and an indirect...

Persistent link: https://www.econbiz.de/10012953959

Quantitative Easing in the Euro Area - An Event Study Approach

Urbschat, Florian - 2017

We examine the effects of the Asset Purchase Programme (APP) gradually introduced by the European Central Bank from September 2014 onwards. Studying the short-term reaction of financial markets after APP press releases, we analyse the development of bond yields and spreads around these releases....

Persistent link: https://www.econbiz.de/10012942366

High-Frequency Analysis of Foreign Exchange Interventions : What Do We Learn?

Menkhoff, Lukas - 2013

The high-frequency analysis of foreign exchange dynamics is helpful in order to better identify the impact of central bank interventions. Evidence robustly shows that interventions do indeed move the exchange rate level in the desired direction. Interventions increase volatility in the short run...

Persistent link: https://www.econbiz.de/10012753309

High-Frequency Analysis of Foreign Exchange Interventions: What do we learn?

Menkhoff, Lukas - CESifo - 2008

Persistent link: https://www.econbiz.de/10005765791

Large-Scale Disasters and the Insurance Industry

Kraemer, Walter; Schich, Sebastian - CESifo - 2008

We investigate the impact of the 20 largest – in terms of insured losses – man-made or natural disasters on various insurance industry stock indices. We show via an event study that insurance sectors worldwide are quite resilient, in a market–value sense, to unexpected losses to capital:...

Persistent link: https://www.econbiz.de/10005181507

Investment in Productivity and the Long-Run Effect of Financial Crisis on Output

Ridder, Maarten de - 2017

.2% higher today if productivity-enhancing investment intensity had remained at its pre-crisis level …

Persistent link: https://www.econbiz.de/10012964611

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