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Trade-throughs in European cross-traded equities after transaction costs: Empirical evidence for the EURO STOXX 50
Ende, Bartholomäus; Lutat, Marco - 2010
The new regulatory environment triggered by MiFID has resulted in a transformed competitive landscape and increased fragmentation among execution venues in Europe. One key component of MiFID is best execution, i.e. investment firms are obliged to achieve the best result for customer orders on a...
Persistent link: https://www.econbiz.de/10010303751
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La relación entre el COVID-19 y el riesgo de crédito: Un estudio de caso para las 50 compañías del EuroStoxx
Téllez, Cecilia; Martín García, Margarita; Di … - In: Revista de Métodos Cuantitativos para la Economía y … 36 (2023), pp. 1-16
In this paper, we explore the impact of the COVID-19 pandemic on the credit risk of large European companies. We selected corporations belonged to the EuroStoxx 50 Index and whose CDS (Credit Default Swap) may be found in the iTraxx Europe Index. Then we applied the methodology of event studies...
Persistent link: https://www.econbiz.de/10014494509
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Institutional development and stock price synchronicity: Evidence from China
Hasan, Iftekhar; Song, Liang; Wachtel, Paul - 2013
Better developed legal and political institutions result in greater availability of reliable firm-specific information. When stock prices reflect more firm-specific information there will be less stock price synchronicity. This paper traces the experience of China, an economy undergoing dramatic...
Persistent link: https://www.econbiz.de/10012148706
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Rating-Meldungen europäischer Staaten und Werteffekte bei US-Banken: Eine Note zur Interdependenz globaler Kapitalmärkte
Happ, Christian; Schauer, Frederik; Schiereck, Dirk - In: Credit and Capital Markets – Kredit und Kapital 46 (2013) 1, pp. 95-117
Rating-Meldungen europäischer Staaten und Werteffekte bei US-Banken: Eine Note zur Interdependenz globaler Kapitalmärkte Im Zuge der europäischen Schuldenkrise stellt sich die Frage, ob sich das Banken- und Finanzsystem der USA durch Ansteckungseffekte ebenso in Gefahr befindet. Vor dem...
Persistent link: https://www.econbiz.de/10014523044
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Stages of the ongoing global financial crisis: Is there a wandering asset-price bubble?
Orlowski, Lucjan T. - 2008
This study identifies five distinctive stages of the current global financial crisis: the meltdown of the subprime mortgage market, spillovers into broader credit market, the liquidity crisis epitomized by the fallout of Northern Rock, Bear Stearns with contagion effects on other financial...
Persistent link: https://www.econbiz.de/10011430817
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Stages of the 2007/2008 Global Financial Crisis Is There a Wandering Asset-Price Bubble?
Orlowski, Lucjan T. - 2008
This study identifies five distinctive stages of the current global financial crisis: the meltdown of the subprime mortgage market; spillovers into broader credit market; the liquidity crisis epitomized by the fallout of Northern Rock, Bear Stearns and Lehman Brothers with counterparty risk...
Persistent link: https://www.econbiz.de/10010298579
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The great liquidity freeze: What does it mean for international banking?
Domanski, Dietrich; Turner, Philip - 2011
In mid-September 2008, following the bankruptcy of Lehman Brothers, international interbank markets froze and interbank lending beyond very short maturities virtually evaporated. Despite massive central bank support operations and purchases of key assets, many financial markets remained impaired...
Persistent link: https://www.econbiz.de/10010279794
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Solicited and unsolicited credit ratings: A global perspective
Poon, Winnie P. H.; Chan, Kam C. - 2010
-selection bias in the analysis. Unlike the literature, we adopted an improved method using Wooldridge's instrumental …-selection bias in credit ratings. Our findings suggest that the firms with solicited ratings seem to be more profitable, more liquid …, and have lower leverage than the issuers with unsolicited ratings. After controlling for sample-selection bias and some …
Persistent link: https://www.econbiz.de/10010286082
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Market failures and regulatory failures: Lessons from past and present financial crises
Acharya, Viral V.; Cooley, Thomas; Richardson, Matthew; … - 2011
The paper analyzes the financial crisis of through the lens of market failures and regulatory failures. We present a case that there were four primary failures contributing to the crisis: excessive risk-taking in the financial sector due to mispriced government guarantees; regulatory focus on...
Persistent link: https://www.econbiz.de/10010286114
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Transparency through financial claims with fingerprints: a free market mechanism for preventing mortgage securitization induced financial crises
Gründl, Helmut; Post, Thomas - 2009
Lack of transparency in securitization transactions significantly contributed to the severe financial crisis of 20072009. To increase transparency we propose a new mechanism: financial claims with fingerprints. They would allow market participants at each stage of the securitization process to...
Persistent link: https://www.econbiz.de/10010265673