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Factor reversal in the euro zone stock returns: Evidence from the crisis period
Chou, Hsin-I; Zhao, Jing; Suardi, Sandy - In: Journal of International Financial Markets, … 33 (2014) C, pp. 28-55
The adoption of the euro led to a shift in importance from country to industry effects in euro zone stock returns. For the first time, this paper shows that country effects have regained importance in the recent spate of crises. This euro-wide factor reversal is driven by countries with poor...
Persistent link: https://www.econbiz.de/10011189469
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Bank earnings forecasts, risk and the crisis
Anolli, Mario; Beccalli, Elena; Molyneux, Philip - In: Journal of International Financial Markets, … 29 (2014) C, pp. 309-335
This paper explores the ability of financial analysts to gauge the risk taken by banks and investigates the impact of … forecasting abilities are negatively influenced by bank-specific risks, except market risk. We also find that forecasting … crisis all risk indicators significantly reduce forecasting abilities of both types of analysts (optimistic and pessimistic …
Persistent link: https://www.econbiz.de/10010743655