Showing 1 - 10 of 124
In this article we provide a summary of empirical results obtained in several economics and operations research papers that attempt to explain, predict, or suggest remedies for financial crises or banking defaults; we also outline the methodologies used in them. We analyze financial and economic...
Persistent link: https://www.econbiz.de/10013152444
This paper provides new evidence of herding in global equity markets. Using quantile regressions applied to daily data for 33 countries, we investigate herding during the Eurozone crisis, China's market crash in 2015-2016, and in the aftermath of the Brexit vote. We find significant evidence of...
Persistent link: https://www.econbiz.de/10013295491
This study uses the current financial crisis as a quasi-experiment to examine whether and to what extent corporate boards affect the performance of firms. Using cumulative stock returns over the crisis to measure of firm performance, we find that board independence, as traditionally defined,...
Persistent link: https://www.econbiz.de/10013107615
In this article we provide a summary of empirical results obtained in several economics and operations research papers that attempt to explain, predict, or suggest remedies for financial crises or banking defaults, as well as outlines of the methodologies used. We analyze financial and economic...
Persistent link: https://www.econbiz.de/10013153336
Using the current financial crisis as a natural quasi-experiment, we test whether and to what extent conservative accounting affects shareholder value. We find that there is a positive association between conservatism and firm stock performance during the current crisis. The result holds for...
Persistent link: https://www.econbiz.de/10013092024
This study examines the impact of corporate boards on firm performance during the current financial crisis. Using buy-and-hold abnormal returns over the crisis to measure firm performance, we find that board independence, as traditionally defined, does not significantly affect firm performance....
Persistent link: https://www.econbiz.de/10013091507
Using the recent financial crisis as a natural quasi-experiment, we test whether and to what extent conservative accounting affects shareholder value. We find that there is significantly positive and economically meaningful relation between conservatism and firm stock performance during the...
Persistent link: https://www.econbiz.de/10013079331
We examine changes in the corporate tax rate across the U.S. and their implications on the pricing and quantity of loans. We find an asymmetric effect on the cost of credit: loan spreads decrease by approximately 5.9 basis points in response to a one percentage tax cut, but they are insensitive...
Persistent link: https://www.econbiz.de/10013427630
This paper investigates the existence and extent of economies of scale and scope among stock exchanges. Evidence from 38 exchanges in 32 countries and 4 continents around the world for the years 1989-1998 indicates the existence of significant economies of scale and scope. The degree of such...
Persistent link: https://www.econbiz.de/10005648960
Reduced exchange rate volatility and higher and less heterogeneous quality of institutional rules and macroeconomic policies are two of the main (anticipated and concurring) effects expected from a currency union. In this paper we measure the magnitude of these two effects for the Eurozone...
Persistent link: https://www.econbiz.de/10005695008