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Since 2008, the German open-ended real estate fund (GOEREF) industry has experienced a critical phase of suspensions of redemption of fund shares, announced fund terminations and, eventually, introduction of a new regulation. With assets under management of over EUR 80 billion, GOEREFs are the...
Persistent link: https://www.econbiz.de/10010860307
The liquidity crisis in the German Open-Ended Real Estate Funds (GOEREFs) industry was characterized by large outflows of money in several funds. Large and ongoing redemptions of fund shares held by both institutional and private / retail investors led to suspensions of redemptions, termination...
Persistent link: https://www.econbiz.de/10010883576
In this study, we analyze the effect of US macroeconomic announcements on European stock returns, return volatility and bid-ask spreads using intraday data. We find that certain announcements are generally more important to the European stock market than others, and that the direction of news is...
Persistent link: https://www.econbiz.de/10010904078
The correlation between stock markets and interest rates has been discussed in numerous studies in the past, with differing results in terms of strength and direction of the relationship. This paper uses models of the multivariate GARCH type which allow for time-variability and regime changes in...
Persistent link: https://www.econbiz.de/10010957154
Bid–ask spreads using intraday data reveal significant sensitivity to European Central Bank (ECB) macro-announcements. Effects are strongest for announcements that comprise unexpected information or a change in interest rates, and spreads rise sharply during the minutes surrounding interest...
Persistent link: https://www.econbiz.de/10011263471
Assessing the overall quality of Chinese financial data is important to both academic researchers and regulators. Using data from the industrial census of China, we examine the institutional pattern of the manipulation of reported profit statistics by manufacturing firms. This manipulation of...
Persistent link: https://www.econbiz.de/10009275203
Bid-ask spreads using intraday data reveal significant sensitivity to European Central Bank (ECB) macro announcements. Effects are strongest for announcements that comprise unexpected information or a change in interest rates, and spreads rise sharply during the minutes surrounding interest rate...
Persistent link: https://www.econbiz.de/10010723148
Reduction of greenhouse gas emissions is one of the key requirements for sustainable production and consumption, but while the Canadian chemical industry has been very successful in reducing emissions to water and air, and while non-CO2 greenhouse gas emissions have been minimised as well,...
Persistent link: https://www.econbiz.de/10008459938
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