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The determinants of option-adjusted delta credit spreads: a comparative analysis of the United States, the United Kingdom and the euro area
Becchetti, Leonardo; Carpentieri, Andrea; Hasan, Iftekhar - Suomen Pankki - 2009
OASs and find evidence of a significant impact of institutional investors’ purchases and sales on corporate bond risk. We …
Persistent link: https://www.econbiz.de/10008509440
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The Determinants of Option-Adjusted Delta Credit Spreads : A Comparative Analysis of the United States, the United Kingdom and the Euro Area
Becchetti, Leonardo - 2009
OASs and find evidence of a significant impact of institutional investors' purchases and sales on corporate bond risk. We …
Persistent link: https://www.econbiz.de/10013153595
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Cross-Border Performance in European Banking
Hasan, Iftekhar; Lozano-Vivas, Ana; Pastor, Jesús T. - Suomen Pankki - 2000
Recent cross-country comparisons of bank efficiency have been based on pooled estimates of banks across countries and … efficiency of banks in each country that operate both within and outside their own environments. The results indicate that … technical efficiency is a significant deterrence to foreign competition. …
Persistent link: https://www.econbiz.de/10005423697
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Can firms learn by observing? Evidence from cross-border M&As
Francis, Bill B.; Hasan, Iftekhar; Sun, Xian; Waisman, Maya - In: Journal of Corporate Finance 25 (2014) C, pp. 202-215
In the presence of high uncertainty and limited experience, can observing the actions of other acquiring predecessors help firms make better acquisition decisions? Using a sample of cross-border M&As conducted by US acquirers in developing countries, we document a positive and significant...
Persistent link: https://www.econbiz.de/10010753525
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Home preference at selecting financial advisors in cross-border M&As
Francis, Bill B.; Hasan, Iftekhar; Sun, Xian - Suomen Pankki - 2012
acquirers take the entire risk of not realizing the expected synergy value. We also observe home preference among investors as …
Persistent link: https://www.econbiz.de/10010587737
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Can firms learn by observing? Evidence from cross-border M&As
Francis, Bill B.; Hasan, Iftekhar; Sun, Xian; Waisman, Maya - Suomen Pankki - 2014
In the presence of high uncertainty and limited experience, can observing the actions of other acquiring predecessors help firms make better acquisition decisions? Using a sample of cross-border M&As conducted by US acquirers in developing countries, we document a positive and significant...
Persistent link: https://www.econbiz.de/10010945113
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Credit default swaps and bank loan sales: evidence from bank syndicated lending
Hasan, Iftekhar; Wu, Deming - 2016
Do banks use credit default swap hedging to substitute for loan sales? By tracking banks' lending exposures and CDS positions on individual firms, we find that banks use CDS hedging to complement rather than to substitute for loan sales. Consequently, bank loan sales are higher for firms that...
Persistent link: https://www.econbiz.de/10012148278
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How large banks use CDS to manage risks: bank-firm-level evidence
Hasan, Iftekhar; Wu, Deming - 2016
​We test five hypotheses on whether banks use CDS to hedge corporate loans, provide credit enhancements, obtain regulatory capital relief, and exploit banking relationship and private information. Linking large banks' CDS positions and syndicated lending on individual firms, we observe strong...
Persistent link: https://www.econbiz.de/10012148279
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The signalling hypothesis revisited: Evidence from foreign IPOs
Francis, Bill B; Hasan, Iftekhar; Lothian, James R; … - Suomen Pankki - 2008
While the signalling hypothesis has played a prominent role as the economic rationale associated with the initial public offering (IPO) underpricing puzzle (Welch, 1989), the empirical evidence on it has been mixed at best (Jegadeesh, Weinstein and Welch, 1993; Michaely and Shaw, 1994). This paper...
Persistent link: https://www.econbiz.de/10005648961
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The Signalling Hypothesis Revisited : Evidence from Foreign IPOs
Francis, Bill B. - 2015
While the signalling hypothesis has played a prominent role as the economic rationale associated with the initial public offering (IPO) underpricing puzzle (Welch, 1989), the empirical evidence on it has been mixed at best (Jegadeesh, Weinstein and Welch, 1993; Michaely and Shaw, 1994). This paper...
Persistent link: https://www.econbiz.de/10012707631