In this paper, we carry out an empirical study for the Tunisian market to shed light on the question whether the observed shift into non-interest income activities improves performance of commercial banks. Our main results can be summarised in three statements: banks diversified across both...

In this paper, we carry out an empirical study for the Tunisian market to shed light on the question whether the observed shift into non-interest income activities improves performance of commercial banks. Our main results can be summarised in three statements: banks diversified across both...

This paper reviews the market reaction to bank rescue packages announced in six countries between October 2008 and January 2009. The study distinguishes the impact on creditors as seen in the change of CDS spreads from the impact on shareholders as seen in the movement of bank stock prices....

The aim of this paper is to examine the impact on bank stock prices of the Asian and Russian financial crises for a sample of European banks. This issue is of importance regarding financial fragility and contagion effects within the banking industry. We develop an event study methodology based...

This paper examines the reaction of the Spanish stock market to the announcement of securitization operations by listed banks in the period 1993-2004. Results indicate the existence of positive and significant abnormal returns on the day immediately following the announcement date. The average...

This paper discusses the too-big-to-fail problem from the perspective of individual banks and the financial system as a whole. It starts by exploring the potential implications of recent financial deepening and concentration, which has generated escalating expectations of state support, thereby...

Concerned about the permanent evolution of the Romanian society both from the literary and economical point of view, Ion Vinea remains one of the most ardent supporters of Lovinescian synchronism. His activity as a publicist highlights his forward-looking spirit displayed in the relevantly...

This book recommends the creation of a new, alternative legal structure for collective investment, the "managed investment trust."

This study explains why financial services have for centuries been regulated to a greater extent than are most products that do not directly affect people's health or safety.