Showing 61 - 70 of 247
The collapse of the recent housing price bubble precipitated the 2007-2008 financial crisis and caused international funding liquidity to dry up. We investigate how economic policies undertaken by the Federal Reserve and U.S. Treasury around the crisis impacted global liquidity by examining the...
Persistent link: https://www.econbiz.de/10013028474
This paper investigates the characteristics of the operational loss data formation mechanism that takes place between the date of discovery of a new operational risk event and the final settlement date on which all losses are materialized. The first loss that characterizes the initial impact of...
Persistent link: https://www.econbiz.de/10013130477
We use an empirical model of commercial mortgage spreads to examine how tenant diversification impacts credit spreads for mortgages on retail properties. We find that mortgages on properties with a highly diversified tenant base have spreads that are up to 7.1 basis points higher than spreads on...
Persistent link: https://www.econbiz.de/10012928836
We use an empirical model to categorize firms into portfolios based on operational risk. Using these portfolios, we show that a strategy of buying firms in the highest decile of operational risk and shorting firms in the lowest decile of operational risk earned a positive but insignificant...
Persistent link: https://www.econbiz.de/10012940363
We study the effect of geographic portfolio diversification of real estate firms on their investment performance before and after the global financial crisis (GFC). In addition to previously used dispersion metrics, we also account for the distance of the properties to the corporate...
Persistent link: https://www.econbiz.de/10012834233
We examine the effects of leveraged buyouts (LBOs) on the industry rivals of the firms that undertake the LBO. Specifically, we are interested in determining whether or not the rivals that remain public take steps to change their governance mechanisms to emulate the firms that go private....
Persistent link: https://www.econbiz.de/10012725019
We investigate the current leveraged buyout market in an effort to determine if the current market is overheated. Our evidence indicates that premiums paid in recent years are lower than those paid in the previous buyout wave of the 1980s. Furthermore, after controlling for firm-specific...
Persistent link: https://www.econbiz.de/10012730445
We examine the determinants of placing equity privately vs. publicly and analyze 5359 private investments in public equity (PIPEs) and seasoned equity offerings (SEOs) during 1997 to 2006. Using a p-score matched sample analysis we document that firms that are more likely to use PIPEs tend to be...
Persistent link: https://www.econbiz.de/10012706911
We examine the determinants of the choice of private versus public equity as a source of financing. We study private investments in public equity and seasoned equity offerings during 1996 to 2006, and analyze the short term and long term abnormal returns in SEO and PIPE transactions and their...
Persistent link: https://www.econbiz.de/10012707066
Persistent link: https://www.econbiz.de/10012035128