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Cryptocurrencies are often thought to operate out of the reach of national regulation, but in fact their valuations …
Persistent link: https://www.econbiz.de/10012205633
that the default risk reduction associated with issuance crucially depends on the CoCo bond's design features: Only CoCo … bond designs with permanent write-down features provide a default risk reduction similar to equity. CoCo bonds with equity …
Persistent link: https://www.econbiz.de/10011937107
Cryptocurrencies are often thought to operate out of the reach of national regulation, but in fact their valuations …
Persistent link: https://www.econbiz.de/10012835611
Cryptocurrencies are often thought to operate out of the reach of national regulation, but in fact their valuations …
Persistent link: https://www.econbiz.de/10012836205
Over the past decade, one popular way for Turkish banks to remove nonperforming loans (NPLs) from their balance sheets has been to sell them to asset management companies. We examine the short-term market reaction to the announcements of such NPL sales over the period 2009-2019. We also consider...
Persistent link: https://www.econbiz.de/10014308822
Purpose - The authors explore the relationship between the exchange rate, bond yield and the stock market as well as … the exchange rate, the 10-year bond yield and stock market, for the COVID-19 period, evidence of cointegration is present …/value - To the best of the authors' knowledge, this is the first time that the relationship between the exchange rate, bond yield …
Persistent link: https://www.econbiz.de/10014497076
This study examines the value relevance of book value, earnings and dividends for a sample of all non-financial firms listed on the Kuwait Stock Exchange (KSE) over the period 2003–2009. After controlling for the impact of the global financial crisis, empirical results provide evidence on the...
Persistent link: https://www.econbiz.de/10012930391
European Market Infrastructure Regulation (EMIR) is aimed at derivative trading and could impact the cost of debt capital. We …. We also show that the news have asymmetric effects with tighter regulation news more frequently leading to significant … responses in average abnormal returns (AARs) than loosening regulation news …
Persistent link: https://www.econbiz.de/10011514259
We analyze the impact of Eurozone/Germany and U.S. macroeconomic news announcements and the communication of the monetary policy settings of the ECB and the Fed on the forex markets of new EU members. We employ an event study methodology to analyze intra-day data from 2011–2015. Our...
Persistent link: https://www.econbiz.de/10012908658
This paper analyzes why corporate governance matters for stock returns if the stock market prices the underlying managerial agency problem correctly. Our theory assumes that strict corporate governance prevents managers from diverting cash flows, but reduces incentives for managerial effort. In...
Persistent link: https://www.econbiz.de/10013063851