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Bondt, Gabe J. de; Peltonen, Tuomas A.; Santabárbara, … - 2010

This paper empirically models China’s stock prices using conventional fundamentals: corporate earnings, risk-free interest rate, and a proxy for equity risk premium. It uses the estimated longrun stock price misalignments to date booms and busts, and analyses equity market reforms and excess...

Persistent link: https://www.econbiz.de/10009640350

Booms and busts in China's stock market : estimates based on fundamentals

Bondt, Gabe J. de; Peltonen, Tuomo; Santabárbara, Daniel - 2010

This paper empirically models China's stock prices using conventional fundamentals: corporate earnings, risk-free interest rate, and a proxy for equity risk premium. It uses the estimated longrun stock price misalignments to date booms and busts, and analyses equity market reforms and excess...

Persistent link: https://www.econbiz.de/10003846756

Not all shocks are created equal : assessing heterogeneity in the bank lending channel

Blattner, Laura; Farinha, Luísa A.; Nogueira, Gil - 2021

events, banks reduced sovereign debt holdings and realized accumulated capital gains only after QE. As a result, lending to …

Persistent link: https://www.econbiz.de/10012648880

Do stress tests matter? : evidence from the 2014 and 2016 stress tests

Georgescu, Oana-Maria; Groß, Marco; Kapp, Daniel; Kok … - 2017

to better discriminate between banks. In this study, using an event study approach, we explore how market participants … performing banks in the stress test. Finally, we provide some evidence that also sovereign funding costs were affected in the …

Persistent link: https://www.econbiz.de/10011648333

Supervisory policy stimulus : evidence from the euro area dividend recommendation

Dautovic, Ernest; Gambacorta, Leonardo; Reghezza, Alessio - 2023

At the onset of the Covid-19 outbreak, central banks and supervisors introduced dividend restrictions as a new policy … instrument aimed at supporting lending to the real economy and strengthening banks' capacity to absorb losses. In this paper we … banks in the euro area. The analysis disentangles the confounding effects stemming from the wide range of monetary and …

Persistent link: https://www.econbiz.de/10014278602

Does gender diversity in the workplace mitigate climate change?

Altunbaş, Yener; Gambacorta, Leonardo; Reghezza, Alessio; … - 2022

We match firm-corporate governance characteristics with firm-level carbon dioxide (CO2) emissions over the period 2009-2019 to study the relationship between gender diversity in the workplace and firm carbon emissions. We find that a 1 percentage point increase in the percentage of female...

Persistent link: https://www.econbiz.de/10012880714

Outages in sovereign bond markets

Kerssenfischer, Mark; Helmus, Caspar - 2024

We use outages as natural experiments to study sovereign bond market functioning. When the euro area futures market goes down, trading activity on the cash market declines, liquidity evaporates, and transaction prices deviate from fundamental values. Tracing back this macro-level market...

Persistent link: https://www.econbiz.de/10014558830

Investor-driven corporate finance : evidence from insurance markets

Kubitza, Christian - 2023

I study the causal effect of bond investor demand on the financing and investment decisions of nonfinancial firms using granular data on the bond transactions of U.S. insurance companies. Liquidity inflows from insurance premiums combined with insurers' persistent investment preferences identify...

Persistent link: https://www.econbiz.de/10014315209

The real effects of FinTech lending on SMEs : evidence from loan applications

Eça, Afonso; Ferreira, Miguel A.; Prado, Melissa Porras; … - 2022

exposure to banks with less liquid assets, stable funds, and capital. We find that access to FinTech spurs firm growth …

Persistent link: https://www.econbiz.de/10012818733

Simulating fire sales in a system of banks and asset managers

Calimani, Susanna; Hałaj, Grzegorz; Żochowski, Dawid - 2020

We develop an agent-based model of traditional banks and asset managers to investigate the contagion risk related to …, banks which are active in both the interbank and securities markets may channel financial distress between the two markets …

Persistent link: https://www.econbiz.de/10012163949