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Bank sovereign bond holdings, sovereign shock spillovers, and moral hazard during the European crisis

Beltratti, Andrea - 2015

From 2010 to 2012, the relation between bank stock returns from European Union (EU) countries and the returns on …

Persistent link: https://www.econbiz.de/10012457516

Bank Sovereign Bond Holdings, Sovereign Shock Spillovers, and Moral Hazard During the European Crisis

Beltratti, Andrea - 2015

From 2010 to 2012, the relation between bank stock returns from European Union (EU) countries and the returns on …

Persistent link: https://www.econbiz.de/10013022926

Why Does Fast Loan Growth Predict Poor Performance for Banks?

Fahlenbrach, Rüdiger - 2016

From 1973 to 2014, the common stock of U.S. banks with loan growth in the top quartile of banks over a three-year period significantly underperforms the common stock of banks with loan growth in the bottom quartile over the next three years. The benchmark-adjusted cumulative difference in...

Persistent link: https://www.econbiz.de/10012996390

Why Does Fast Loan Growth Predict Poor Performance for Banks?

Fahlenbrach, Rüdiger - 2016

Persistent link: https://www.econbiz.de/10012456585

Globalization of Equity Markets and the Cost of Capital

Stulz, René M. - 2014

This paper examines the impact of globalization on the cost of equity capital. We argue that the cost of equity capital decreases because of globalization for two important reasons. First, the expected return that investors require to invest in equity to compensate them for the risk they bear...

Persistent link: https://www.econbiz.de/10013069163

Asset Sales, Firm Performance, and the Agency Costs of Managerial Discretion

Poulsen, Annette Brinch - 2010

We argue that management sells assets when doing so provides the cheapest funds to pursue its objectives rather than for operating efficiency reasons alone. This hypothesis suggests that (1) firms selling assets have high leverage and/or poor performance, (2) a successful asset sale is good news...

Persistent link: https://www.econbiz.de/10012763250

Are Larger Banks Valued More Highly?

Minton, Bernadette A.; Stulz, René M.; Taboada, Alvaro G. - 2021

of a within-bank negative relation between valuation and size for large banks from 1987 to 2006 but not when the post …-Dodd-Frank period is included in the sample. The negative relation between bank value and bank size for large banks cannot be … Tobin’s q lower by 0.2% in regressions with year and bank fixed effects. This relation between bank value and trading assets …

Persistent link: https://www.econbiz.de/10013224958

Limited Managerial Attention and Corporate Aging

Loderer, Claudio - 2013

As firms have more assets in place, more of management's limited attention is focused on managing assets in place rather than developing new growth options. Consequently, as firms grow older, they have fewer growth options and a lower ability to generate new growth options. This simple theory...

Persistent link: https://www.econbiz.de/10013076181

Limited managerial attention and corporate aging

Loderer, Claudio; Stulz, René M.; Waelchli, Urs - 2013

Persistent link: https://www.econbiz.de/10010227727

Are Firms in "Boring" Industries Worth Less?

Chen, Jia - 2015

Using theories from the behavioral finance literature to predict that investors are attracted to industries with more salient outcomes and that therefore firms in such industries have higher valuations, we find that firms in industries that have high industry-level dispersion of profitability...

Persistent link: https://www.econbiz.de/10013029556