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Why Do Foreign Firms Have Less Idiosyncratic Risk than U.S. Firms?
Bartram, Söhnke M. - 2019
idiosyncratic risk than a comparable U.S. firm. Country characteristics help explain variation in the level of idiosyncratic risk …, but less so than firm characteristics. Idiosyncratic risk falls as government stability and respect for the rule of law … improve. Idiosyncratic risk is positively related to stock market development but negatively related to bond market …
Persistent link: https://www.econbiz.de/10012906259
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The impact of macroeconomic factors on the German stock market : evidence for the crisis, pre- and post-crisis periods
Celebi, Kaan; Hönig, Michaela - In: International Journal of Financial Studies : open … 7 (2019) 2/18, pp. 1-13
Today we live in a post-truth and highly digitalized era characterized by a flow of (mis-) information around the world. Identifying the impact of this information on stock markets and forecasting stock returns and volatilities has become a much more difficult task, perhaps almost impossible....
Persistent link: https://www.econbiz.de/10012039605
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From Free Markets to Fed Markets : How Unconventional Monetary Policy Impacts Equity Markets
Putniņš, Tālis J. - 2020
In response to the COVID-19 pandemic, the US Federal Reserve almost doubled its balance sheet by adding $3 trillion of assets (13% of GDP) in the space of three months, constituting the most aggressive unconventional monetary policy on record. We show that these actions had a substantial effect...
Persistent link: https://www.econbiz.de/10012831878
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Financial frictions and the reaction of stock prices to monetary policy shocks
Ozdagli, Ali - 2014 - This version: July 29, 2014
This paper reveals and tests a new theoretical implication of the credit channel of monetary policy: as financial frictions (monitoring or auditing costs) increase, the reaction of stock prices to monetary policy shocks decreases. Correspondingly, towards the end of the Enron accounting scandal,...
Persistent link: https://www.econbiz.de/10010395119
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Expectation dispersion, uncertainty, and the reaction to news
Born, Benjamin; Dovern, Jonas; Enders, Zeno - 2020
Releases of key macroeconomic indicators are closely watched by financial markets. We investigate the role of expectation dispersion and economic uncertainty for the stock-market reaction to indicator releases. We find that the strength of the financial market response to news decreases with the...
Persistent link: https://www.econbiz.de/10012404549
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Expectation dispersion, uncertainty, and the reaction to news
Born, Benjamin; Dovern, Jonas; Enders, Zeno - 2020
Releases of key macroeconomic indicators are closely watched by financial markets. We investigate the role of expectation dispersion and economic uncertainty for the stock-market reaction to indicator releases. We find that the strength of the financial market response to news decreases with the...
Persistent link: https://www.econbiz.de/10012404647
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Stock Market Reaction to Monetary Policy Surprises Under Uncertainty
Benchimol, Jonathan; Saadon, Yossi; Segev, Nimrod - 2023
This article investigates how uncertainty impacts the effect of monetary policy surprises on stock returns. Using high-frequency US data, we demonstrate that stock markets respond more aggressively to monetary policy surprises during periods of high uncertainty. We also show that uncertainty...
Persistent link: https://www.econbiz.de/10014348626
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Stock liquidity, stock price crash risk, and foreign ownership
Alp, Ozge Sezgin; Canbaloglu, Bilge; Gurgun, Gozde - In: Borsa Istanbul Review 22 (2022) 3, pp. 477-486
investors, divided between institutional and individual investors, on the relation between liquidity and crash risk. The … findings indicate that higher stock liquidity increases the crash risk as the share of foreign institutional investor rises … generally increases the stock price crash risk. …
Persistent link: https://www.econbiz.de/10013334773
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The Experience and Lessons of Public Offerings on the Stock Markets of the USA, China and Russia
Abramov, Alexander E.; Kosyrev, Andrey; Radygin, Alexander - 2021
Public offerings have been playing an increasingly important role in fundraising for an accelerated development of businesses in the new economy. The IPO market has triggered an intense competition between the USA and China. Russia’s stock market has stayed away from these processes. The...
Persistent link: https://www.econbiz.de/10013227129
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2012 : A Year of the State's Increasing Presence in the Stock Market
Abramov, Alexander E. - 2013
, and in a switchover to new internal control and risk management standards …
Persistent link: https://www.econbiz.de/10013084325