This paper examines the CDS market's response to earnings announcements. The results indicate that earnings announcements contain valuable information with statistically significant announcement date effects. Additionally, the CDS market anticipates negative earnings surprises as prices begin to...

This paper examines the CDS market's response to earnings announcements. The results indicate that earnings announcements contain valuable information with statistically significant announcement date effects. Additionally, the CDS market anticipates negative earnings surprises as prices begin to...

Regulators in developing countries have started to strict banks' foreign currency (FC) lending. Following others, in June 2009, in what is considered "a surprise development" the Turkish Government removed a provision from its existing laws that had allowed Turkish residents to borrow in foreign...