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What Explains the COVID-19 Stock Market?
Cox, Josue - 2020
, however, only a tiny fraction of the credit that the central bank announced it stood ready to provide in early April had been …
Persistent link: https://www.econbiz.de/10012481087
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Do Global Pandemics Matter for Stock Prices? : Lessons from the 1918 Spanish Flu
Angel, Marco del; Fohlin, Caroline; Weidenmier, Marc D. - National Bureau of Economic Research - 2021
We study the impact of the 1918 Spanish Flu on U.S. stock prices. We use the death rate to control for the impact of the global pandemic and war news reported in the New York Times to capture the positive effects of the end of World War I on stock prices. Using a new weekly hand collected NYSE...
Persistent link: https://www.econbiz.de/10012482574
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Acquiring Control in Emerging Markets : Evidence from the Stock Market
Chari, Anusha - 2004
When firms from developed markets acquire firms in emerging markets, market-capitalization-weighted monthly joint returns show a statistically significant increase of 1.8%. Panel data estimations suggest that the value gains from cross-border M&A transactions stem from the transfer of majority...
Persistent link: https://www.econbiz.de/10012467817
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The Stock Market's Reaction to Unemployment News : Why Bad News is Usually Good for Stocks
Boyd, John H. - 2001
We find that on average an announcement of rising unemployment is 'good news' for stocks during economic expansions and 'bad news' during economic contractions. Thus stock prices usually increase on news of rising unemployment, since the economy is usually in an expansion phase. We provide an...
Persistent link: https://www.econbiz.de/10012470637
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Emerging Equity Market Volatility
Bekaert, Geert - 1995
Returns in emerging capital markets are very different from returns in developed markets. While most previous research has focused on average returns, we analyze the volatility of the returns in emerging equity markets. We characterize the time-series of volatility in emerging markets and...
Persistent link: https://www.econbiz.de/10012473563
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Correlated Beliefs, Returns, and Stock Market Volatility
David, Joel M. - 2015
Firm-level stock returns exhibit comovement above that in fundamentals, and the gap tends to be higher in developing countries. We investigate whether correlated beliefs among sophisticated, but imperfectly informed, traders can account for the patterns of return correlations across countries....
Persistent link: https://www.econbiz.de/10012457188
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Whatever-It-Takes Policymaking during the Pandemic
Dominguez, Kathryn M.; Foschi, Andrea - National Bureau of Economic Research - 2024
bank's first whatever-it-takes announcement lowers 10-year bond yields by an additional 47 basis points relative to size …
Persistent link: https://www.econbiz.de/10014486207
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An Event Study of COVID-19 Central Bank Quantitative Easing in Advanced and Emerging Economies
Hartley, Jonathan S. - 2020
Amid the COVID-19 outbreak and related expected economic downturn, many developed and emerging market central banks around the world engaged in new long-term asset purchase programs, or so-called quantitative easing (QE) interventions. This paper conducts an event-study analysis of 24 COVID-19...
Persistent link: https://www.econbiz.de/10012481533
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Size Anomalies in U.S. Bank Stock Returns : A Fiscal Explanation
Gandhi, Priyank - 2010
The largest commercial bank stocks, ranked by total size of the balance sheet, have significantly lower risk …-adjusted returns than small- and medium-sized bank stocks, even though large banks are significantly more levered. We uncover a size … factor in the component of bank returns that is orthogonal to the standard risk factors, including small-minus-big, which has …
Persistent link: https://www.econbiz.de/10012462104
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The Effects of Taxes on Market Responses to Dividend Announcements and Payments : What Can we Learn from the 2003 Dividend Tax Cut?
Chetty, Raj - 2005
This paper investigates the effects of capital gains and dividend taxes on excess returns around announcements of dividend increases and ex-dividend days for U.S. corporations. Consistent with standard no-arbitrage conditions, we find that the ex-dividend day premium increased from 2002 to 2004...
Persistent link: https://www.econbiz.de/10012467227