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The Impact of Global Financial Crisis on Shareholder Value and Operational Efficiency of Banks
U-Din, Salah - 2018
Crisis (GFC) and whether operational efficiency is related to shareholder value creation in informationally efficient stock … markets. The impact of GFC on bank efficiency and shareholder value creation is assessed for 29 large banks in the USA, UK … bank efficiency and shareholder value during 2008-09. A significant relationship between profit efficiency and shareholder …
Persistent link: https://www.econbiz.de/10012913163
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The Riskiness of Credit Allocation and Financial Stability
Brandao-Marques, Luis - 2019
We explore empirically how the time-varying allocation of credit across firms with heterogeneous credit quality matters for financial stability outcomes. Using firm-level data for 55 countries over 1991-2016, we show that the riskiness of credit allocation, captured by Greenwood and Hanson...
Persistent link: https://www.econbiz.de/10012859862
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The impact of macroeconomic factors on the German stock market : evidence for the crisis, pre- and post-crisis periods
Celebi, Kaan; Hönig, Michaela - In: International Journal of Financial Studies : open … 7 (2019) 2/18, pp. 1-13
Today we live in a post-truth and highly digitalized era characterized by a flow of (mis-) information around the world. Identifying the impact of this information on stock markets and forecasting stock returns and volatilities has become a much more difficult task, perhaps almost impossible....
Persistent link: https://www.econbiz.de/10012039605
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Instabile Finanzmärkte
Franke, Günter; Krahnen, Jan Pieter - 2009
Die Vorstellung selbst-stabilisierender, zum Gleichgewicht tendierender Finanzmärkte, lange Zeit als Selbstverständlichkeit angesehen, ist durch die aktuelle Banken- und Kreditkrise in Frage gestellt. Trotz ausgefeilten Risikomanagements der Banken und einer an Basel II orientierten Aufsicht...
Persistent link: https://www.econbiz.de/10003864312
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From Free Markets to Fed Markets : How Unconventional Monetary Policy Impacts Equity Markets
Putniņš, Tālis J. - 2020
In response to the COVID-19 pandemic, the US Federal Reserve almost doubled its balance sheet by adding $3 trillion of assets (13% of GDP) in the space of three months, constituting the most aggressive unconventional monetary policy on record. We show that these actions had a substantial effect...
Persistent link: https://www.econbiz.de/10012831878
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Asset Bubbles : Re-Thinking Policy for the Age of Asset Management
Jones, Bradley - 2015
business risk of asset managers acts as strong motivation for institutional herding and ‘rational bubble-riding.' Two key …
Persistent link: https://www.econbiz.de/10013026923
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Asset Prices and Federal Funds Rate Shocks : The 2007-2009 Financial Crisis
Saggu, Aman - 2015
Persistent link: https://www.econbiz.de/10013020189
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Diagnosing the Source of Financial Market Shocks : An Application to the Asian Financial Crisis
Fedderke, Johannes W. - 2011
This paper presents a diagnostic of the source of financial shocks (idionsyncratic country specific versus common fundamental), which is robust to a range of forms of crisis propagation across markets. Size and power characteristics of the test appear strong. An application of the proposed test...
Persistent link: https://www.econbiz.de/10013127073
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Stress scenarios from the tails of historical distributions of macro-financial risk factors in Denmark
Abildgren, Kim - 2013
late 1600s. We focus on the frequency distribution of a range of key macro-financial risk factors that are commonly … historical distributions of macro-financial risk factors might serve as inspiration for design of sensitivity tests and "worst … case" scenarios in risk management and macro stress tests. …
Persistent link: https://www.econbiz.de/10010199517
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Follow the money : quantifying domestic effects of foreign bank shocks in the great recession
Cetorelli, Nicola; Goldberg, Linda S. - 2012
Foreign banks pulled signifi cant funding from their U.S. branches during the Great Recession. We estimate that the average-sized branch experienced a 12 percent net internal fund "withdrawal," with the fund transfer disproportionately bigger for larger branches. This internal shock to the...
Persistent link: https://www.econbiz.de/10009521579