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The Dynamics of Russia's Key Stock-Market Indicators in January 2015
Gorbatikov, E. - 2016
The period under review – between 23 December 2015 and 26 January 2016 – saw the Brent crude price slide further by 12.7% from the previous period. During that period, there were days when the price dropped below $30 a barrel. Sberbank and VTB lost 8.3% and 12.6% respectively, thus dragging...
Persistent link: https://www.econbiz.de/10012998551
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Fundamental Characteristics of Russia’s Equity Market in 2018
Abramov, Alexander E. - 2019
MOEX Russia Index (formerly the MICEX Index) picked up 12.3 percent, whereas the RTS Index lost 7.4 percent. In 2018, the … MOEX Russia Index found itself in a small group of stock indices of Brazil, India and Argentina that managed to stay within … a range of positive returns (see Fig. 1). While being composed of the same companies, the two of Russia's indices differ …
Persistent link: https://www.econbiz.de/10012863503
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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
businesses in the new economy. The IPO market has triggered an intense competition between the USA and China. Russia’s stock …
Persistent link: https://www.econbiz.de/10013227129
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Global Collateral : How Financial Innovation Drives Capital Flows and Increases Financial Instability
Fostel, Ana - 2017
We show that cross-border financial flows arise when countries differ in their abilities to use assets as collateral. Financial integration is a way of sharing scarce collateral. The ability of one country to leverage and tranche assets provides attractive financial contracts to investors in the...
Persistent link: https://www.econbiz.de/10012962544
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Assessing the Risk of Banking Crises – Revisited
Borio, Claudio E. V. - 2013
Historically, unusually strong increases in credit and asset prices have tended to precede banking crises. Could the current crisis have been anticipated by exploiting this relationship? We explore this question by assessing the out-of-sample performance of leading indicators of banking system...
Persistent link: https://www.econbiz.de/10013095333
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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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2012 : A Year of the State's Increasing Presence in the Stock Market
Abramov, Alexander E. - 2013
During the recent financial crisis, governments in many countries around the world took on the role of an agency responsible for calming down market upheavals. This global trend has found expression in the adoption of measures designed to save systemically important financial institutions, in...
Persistent link: https://www.econbiz.de/10013084325
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2012 : A Year of the State's Increasing Presence in the Stock Market
Abramov, Alexander E. - 2013
During the recent financial crisis, governments in many countries around the world took on the role of an agency responsible for calming down market upheavals. This global trend has found expression in the adoption of measures designed to save systemically important financial institutions, in...
Persistent link: https://www.econbiz.de/10013085761
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Investment-Based Corporate Bond Pricing
Kuehn, Lars-Alexander - 2014
A standard assumption of structural models of default is that firms' assets evolve exogenously. In this paper, we examine the importance of accounting for investment options in models of credit risk. In the presence of financing and investment frictions, fi rm-level variables that proxy for...
Persistent link: https://www.econbiz.de/10013067398
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U.S. Stock Market Correction : Causes and Effects
Abramov, Alexander E. - 2018
The U.S. stock market entered a major correction on 2 February 2018, impacting most of the markets worldwide. Stock indices plunged as volatility increased. The correction was spurred mainly by the U.S. stock market overvaluation as well as concerns about inflation spike in the United States....
Persistent link: https://www.econbiz.de/10012926344