Este trabajo examina 2486 acuerdos de cooperación firmados por las empresas que cotizan en el mercado continuo español entre 1990 y 2002. Para ello, se analizan sus características más relevantes: sector de actividad; lugar donde se lleva a cabo; número de socios; si se trata de empresas...

This study analyzes the effects of six different credit rating announcements on systematic and idiosyncratic risks in Spanish stocks from 1988 to 2010. We used an extension of the event study dummy approach that includes direct effects on beta risk and volatility. We identified effects on both...

This paper analyses the determinants of risk-taking in Spanish financial intermediaries, with special emphasis on the ownership structure and size of the different entities. On the one hand, the specific legal configuration of Spanish Savings banks may lead them to differ from Commercial banks...

We test whether different rating announcements contain pricing-relevant information and modify trading activity patterns in the Spanish corporate debt markets. We observe a significant widening of yield spreads in short- and long-term corporate debt after reviews of downgrades and negative...