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Since the 2008 global financial crisis, those East European countries that had partly privatized their pension systems in the 1990s or early 2000s increasingly scaled back their mandatory private retirement accounts and restored the role of public provision. What explains this wave of reversals...
Persistent link: https://www.econbiz.de/10013030410
This paper explores whether different funding structures-including the source, instrument, currency, and counterparty … location of funding-affected the extent of financial stress experienced in various countries and sectors during the Covid-19 … sovereigns, banks, and corporates. Then we use country-sector and country-sector-time panels to assess if these different funding …
Persistent link: https://www.econbiz.de/10013503718
This paper explores the relationship between different funding structures--including the source, instrument, currency …, and counterparty location of funding--and the extent of financial stress experienced in different countries and sectors …-sector-time panels to assess how different funding structures are related to financial stress. A higher share of funding from non …
Persistent link: https://www.econbiz.de/10014287355
This paper explores whether different funding structures – including the source, instrument, currency, and counterparty … location of funding – affected the extent of financial stress experienced in different countries and sectors during the early … internationalisation tended to mitigate – or amplify – the impact of this risk-off shock. We find that banks with a higher share of funding …
Persistent link: https://www.econbiz.de/10014262700
In this paper, we consider for the first time the impact of fund regulation on the international distribution of investment funds. We study the 2001 UCITS Directive of the European Union, which was put in place to mitigate fraud and promote investor confidence throughout Europe. We examine the...
Persistent link: https://www.econbiz.de/10013070662
The global financial crisis triggered a vast number of new laws and regulations at international level, including initiatives that can be classified as "soft law". The legitimacy and efficacy of these new norms are subject to intensive academic and political debates. At the same time, soft law...
Persistent link: https://www.econbiz.de/10012903436
In March of 2000 the New York Stock Exchange proposed a merger with The Nasdaq Stock Market. Applying a qualitative assessment to the proposed merger from the organizations' perspective it is argued that the merger would be favorable for both organizations. Applying a quantitative assessment to...
Persistent link: https://www.econbiz.de/10012825721
We study empirically how competition among high-frequency traders (HFTs) affects their trading behavior and market quality. Our analysis exploits a unique dataset, which allows us to compare environments with and without high-frequency competition, and contains an exogenous event - a tick size...
Persistent link: https://www.econbiz.de/10012868588
I study empirically how competition among high-frequency traders (HFTs) affects their trading behavior and market quality. The analysis exploits a unique dataset, which allows comparing environments with and without high-frequency competition, and contains an exogenous event - a tick size reform...
Persistent link: https://www.econbiz.de/10012857042
Regulation of Money Market Funds (MMFs) in the EU requires some categories of MMFs to consider applying liquidity management tools if they breach a minimum 'weekly' liquidity requirement. Anticipation of the application of such tools is a plausible amplifier of run risks. Using a larger European...
Persistent link: https://www.econbiz.de/10012670037