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Russia-Ukraine crisis : The effects on the European stock market
Ahmed, Shaker; Hasan, Mostafa Monzur; Kamal, Md Rajib - 2022
We examine the effect of the Russia–Ukraine crisis on the European stock markets. Because of increased political uncertainty, geographic proximity, and the ramifications of the fresh sanctions imposed on Russia, the European stock markets tended to react negatively to this crisis. We find that...
Persistent link: https://www.econbiz.de/10013404123
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CDS and equity market reactions to stock issuances in the U.S. financial industry : evidence from the 2002-13 period
Cornett, Marcia Millon; Mehran, Hamid; Pan, Kevin; … - 2014
We study market reactions to seasoned equity issuances that were announced by financial companies between 2002 and 2013. To assess the risk and valuation implications of these seasoned equity issuances, we conduct an event analysis using daily credit default swap (CDS) and stock market pricing...
Persistent link: https://www.econbiz.de/10010423809
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Corporate Governance and Stock Price Performance During the Financial Crisis : Evidence from Japan
Nogata, Daisuke - 2010
performance even in industrial countries. Finally, it is apparent that firms that rely on bank financing suffer more from … deteriorating stock price performance. Similar to results of existing studies, the results of this study suggest that bank …
Persistent link: https://www.econbiz.de/10013150370
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Debt Source Choices and Stock Market Performance of Russian Firms During the Financial Crisis
Davydov, Denis - 2013
bank debt or bonds affected stock returns during the credit crunch. Our results indicate that the firms which rely entirely … on bank debt significantly outperformed the firms with public debt amidst the crisis. This finding suggests that bank … debt may be particularly valuable in harsh times. However, we also document that the stock prices of bank dependent firms …
Persistent link: https://www.econbiz.de/10013090436
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Joint extreme events in equity returns and liquidity and their cross-sectional pricing implications
Ruenzi, Stefan; Ungeheuer, Michael; Weigert, Florian - 2020 - This version: January 2020
We merge the literature on downside return risk and liquidity risk and introduce the concept of extreme downside liquidity (EDL) risks. The cross-section of stock returns reflects a premium if a stock's return (liquidity) is lowest at the same time when the market liquidity (return) is lowest....
Persistent link: https://www.econbiz.de/10012175486
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CEO Backgrounds and Stock Performance : Evidence from the Great Recession
Pang, Jiaren - 2018
Using the Great Recession of 2007-2009 as a quasi-natural experiment, we find that CEOs' work experience is significantly related to firm stock performance while their endowed traits play a limited role in the recession. No CEO characteristics matter during the pre-recession period. CEOs who...
Persistent link: https://www.econbiz.de/10012929913
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CEO Big Five Personality and Stock Price Crash Risk
Liu, Ming - 2019
This study investigates whether CEO Big Five personalities (i.e., agreeableness, conscientiousness, extraversion, neuroticism and openness) are associated with stock price crash risk. The Big Five can influence managerial behaviors to withhold or release bad news. When the amount of withheld...
Persistent link: https://www.econbiz.de/10012895357
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Managerial Ability, Investment Efficiency and Stock Price Crash Risk
Habib, Ahsan - 2017
more able managers over-invest compared to their not-so-able counterparts, even after controlling for the effects of … risk increases for firms with talented managers, primarily because of an adverse effect of managerial talent on financial …
Persistent link: https://www.econbiz.de/10012972544
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Married CEOs and Stock Price Crash Risk
Kim, Jeong-Bon; Liao, Shushu; Liu, Yangke - 2021
This study examines whether marriage, as a social construct and cultural norm, could affect firm-level stock price crash risk. We find that firms managed by married CEOs are associated with lower future stock price crash risk, after controlling for a set of firm characteristics and CEO traits....
Persistent link: https://www.econbiz.de/10013234189
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CEOs' hometown connections and stock price crash risk : evidence from emerging market
Fu, Fanjie; Yao, Shujie; Fang, Jing; Zheng, Yu; Wang, … - In: Borsa Istanbul Review 22 (2022) 6, pp. 1079-1097
This paper investigates the impact on the risk of a crash in the stock price (SPCR) of a hometown connection between a firm's chief executive officer (CEO) and suppliers. Using manually collected data on CEOs' hometown connections among Chinese A-share companies (A-shares, or RMB common shares,...
Persistent link: https://www.econbiz.de/10014305750