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left-tail risk protection, conditional on a crisis, fully explains this Big−Small bank equity premium “fee” paid in normal … the big bank equity return discount in non- crisis times. Over several economic cycles, there is no abnormal Big …−Small bank equity premium and bailout insurance is fairly priced for equityholders in that there is no difference between big and …
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Consolidation has been a fact of life in the wholesale financial services sector, resulting in fundamental change in the financial architecture and public exposure to systemic risk. The underlying drivers include advances in transactions and information technologies, regulatory changes,...
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Tracing the SEC ban on the short selling of financial stocks in September 2008, this paper investigates whether such selling activity before the 2008 short ban reflected financial companies' risk exposures in the subprime crisis. The evidence suggests that short sellers sold short stocks that...
Persistent link: https://www.econbiz.de/10012148242
​Tracing the SEC ban on the short selling of financial stocks in September 2008, this paper investigates whether such selling activity before the 2008 short ban reflected financial companies' risk exposures in the subprime crisis. The evidence suggests that short sellers sold short stocks that...
Persistent link: https://www.econbiz.de/10013027420
Tracing the SEC ban on the short selling of financial stocks in September 2008, this paper investigates whether such selling activity before the 2008 short ban reflected financial companies’ risk exposure in the subprime crisis. Evidence suggests that short sellers sold short stocks that had...
Persistent link: https://www.econbiz.de/10011264658
Tracing the SEC ban on the short selling of financial stocks in September 2008, this paper investigates whether such selling activity before the 2008 short ban reflected financial companies’ risk exposures in the subprime crisis. The evidence suggests that short sellers sold short stocks that...
Persistent link: https://www.econbiz.de/10011188494