Showing 1 - 10 of 15,931
development since the euro introduction. We structured our paper on chapters that present its economic importance, the … growth since the introduction of the euro can be explained by developments in economic activity, the costs of issuance and … securities issued by non-monetary financial corporations. However, the use of corporate bonds at the euro area level is not …
Persistent link: https://www.econbiz.de/10008765633
evidence that the introduction of the Euro affects the wealth effects of cross-listings within the Eurozone.Finally, this study …, after considering the effect of the introduction of the Euro and the adoption of SOX. The results show that significance of …
Persistent link: https://www.econbiz.de/10010938724
In this paper, we document how in the wake of monetary unification the markets for Euro-area sovereign and private …-sector bonds have become increasingly integrated. Issuers and investors alike have come to regard the Euro-area bond market as a … EMU. The persistence of small and variable yield differentials for sovereign debt under EMU indicates that Euro-area bonds …
Persistent link: https://www.econbiz.de/10005802074
In this Paper, we document how in the wake of monetary unification the markets for euro area sovereign and private …-sector bonds have become increasingly integrated. Issuers and investors alike have come to regard the euro area bond market as a … EMU. The persistence of small and variable yield differentials for sovereign debt under EMU indicates that euro area bonds …
Persistent link: https://www.econbiz.de/10005791915
Because IPO mechanisms determine both the initial trading price and the allocation of newly-listed firms' shares, they have financial and strategic consequences for shareholders. For that reason, it is of interest to analyse the relative advantages and disadvantages of the different procedures...
Persistent link: https://www.econbiz.de/10010861383
We analyse the reasons why companies issue units when they raise additional capital. In contrast to previous evidence, our results show that units are not offered to mitigate the agency conflicts or to signal security mispricing as they are predominantly issued during cold periods, in public...
Persistent link: https://www.econbiz.de/10010861624
We discuss the literature on the shift from stakeholder to shareholder finance behind the Great Financial Crisis (GFC). Traditional banks generally maximized stakeholder value (STV). But before the GFC also many of them started maximizing shareholder value (SHV). Moving from STV to SHV often...
Persistent link: https://www.econbiz.de/10011273101
We examine the contribution of when-issued trading to price discovery and underpricing in the Indian IPO market. Besides the when-issued trading, there exists IPO grading, analyst recommendation, group affiliation, and the subscription rates in the bookbuilding process. We examine the impact of...
Persistent link: https://www.econbiz.de/10010869367
We examine how stock market reforms in China impact the certification role of underwriters in reducing substantial IPO under-pricing. In a broad strategy for economic growth, stock market development is seen as crucial but such is the scale of IPO under-pricing in China that it calls into...
Persistent link: https://www.econbiz.de/10010666206
One of the fundamental principles of the bank activity is prudence. This principle manifest on one hand in substance of the reglementations regarding bank activity at national, european and international level and, on the other hand, in operational activity of each bank institution and, implicit...
Persistent link: https://www.econbiz.de/10005836111