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How smart are investors after the subprime mortgage crisis? : evidence from the securitization market

Gürtler, Marc; Hibbeln, Martin - 2012

Two factors have proven to be strongly relevant for the subprime mortgage crisis. The first is the lack of screening incentives of originators, which had not been anticipated by investors. The second is that investors relied too much on credit ratings. We examine whether investors have learned...

Persistent link: https://www.econbiz.de/10009569587

Investor Perception, Market Reaction, and Post‐issue Performance in Bank Seasoned Equity Offerings

Krishnan, C. N. V.; He, Yu - 2022

Using a large sample of bank seasoned equity offerings (SEO) from 2002 to 2017, we first document detailed descriptive … statistics, and showed that nonperforming assets ratio, our primary measure of bank asset quality, reached the highest value … controlling for other variables, that the bank capital ratio as at the time of the SEO announcement is significantly and …

Persistent link: https://www.econbiz.de/10013405164

Institutional Trading Momentum and Mispricing

Bulsiewicz, James - 2017

I investigate whether or not the multi-period trades of financial institutions cause mispricing in the stock market. After controlling for the magnitude and trends in institutional trades, I find evidence consistent with institutional trades pushing prices away from fundamentals. Stocks heavily...

Persistent link: https://www.econbiz.de/10012971888

Behavioural Types and Characteristics of UK Fund Managers’ Cascading and Herding : New Evidence From the Stock Market

Lu, Ralph - 2013

This paper first extends Sias (2004) to examine whether UK fund managers are engaged in herding behaviours in the stock market, their reasons for herding, whether their herding behaviours are different during bullish and bearish periods and whether or not their herding behaviours are...

Persistent link: https://www.econbiz.de/10013079120