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Was the Crisis Due to a Shift from Stakeholder to Shareholder Finance? Surveying the Debate
Ferri, Giovanni - 2015
We discuss the literature on the shift from stakeholder to shareholder finance behind the Great Financial Crisis (GFC). Traditional banks generally maximized stakeholder value (STV). But before the GFC also many of them started maximizing shareholder value (SHV). Moving from STV to SHV often...
Persistent link: https://www.econbiz.de/10013024417
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Dodd-Frank, Securitization, and the Subprime Mortgage Crisis
Hoffman, Stephen P. - 2013
There are few things more constant in life than the rise and fall of financial markets. When markets crash, however, we are forced to restore them while learning from our mistakes. In the wake of the recent subprime mortgage crisis, Congress has drastically but deservedly overhauled the...
Persistent link: https://www.econbiz.de/10013090228
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European versus Anglo-Saxon credit view : evidence from the eurozone sovereign debt crisis
Altdörfer, Marc; De las Salas Vega, Carlos Andres; … - 2016
the assignment of sovereign credit ratings, using the Eurozone sovereign debt crisis of 2009-2012 as a natural laboratory … two more US-tied peers, assigned on average more favourable ratings to Eurozone issuers during the crisis. However, Fitch …'s better ratings for Eurozone issuers seem to be neglected by investors as they rather follow the rating actions of Moody's and …
Persistent link: https://www.econbiz.de/10011570580
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The power of opinion : more evidence of a GIPS-markup in sovereign ratings during the euro crisis
Nauhaus, Steffen - 2015
This paper examines whether the Big Three credit rating agencies actually played as active a role in the Euro Crisis as previously asserted. On the basis of panel data methods for a set of 11 EMU countries, the analysis reveals significant evidence for an arbitrary markup on the GIPS group of...
Persistent link: https://www.econbiz.de/10011317827
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Banks' portfolio of government debt and sovereign risk
Afonso, António; Alves, José; Monteiro, Sofia - 2023
banks' portfolio of public debt and reduces the percentage holdings in the case of central banks. Better sovereign ratings …
Persistent link: https://www.econbiz.de/10014383613
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Bad Bank(s) and Recapitalization of the Banking Sector
Schäfer, Dorothea; Zimmermann, Klaus F. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
With banking sectors worldwide still suffering from the effects of the financial crisis, public discussion of plans to place toxic assets in one or more bad banks has gained steam in recent weeks. The following paper presents a plan how governments can efficiently relieve ailing banks from toxic...
Persistent link: https://www.econbiz.de/10010661264
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Agenda for Building a New Financial Market Architecture
Schäfer, Dorothea - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
Since the summer of 2007, participants in financial markets have been confronted by a crisis of their own making. In order to prevent the recurrence of a similar crisis in the future, the G-20 nations, at their finance summit in Washington on 15 November 2008, resolved to "ensure that all...
Persistent link: https://www.econbiz.de/10010661277
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Bad Bank(s) and Recapitalization of the Banking Sector
Schäfer, Dorothea; Zimmermann, Klaus F. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
With banking sectors worldwide still suffering from the effects of the financial crisis, public discussion of plans to place toxic assets in one or more bad banks has gained steam in recent weeks. The following paper presents a plan how governments can efficiently relieve ailing banks from toxic...
Persistent link: https://www.econbiz.de/10011128096
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Agenda for Building a New Financial Market Architecture
Schäfer, Dorothea - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
Since the summer of 2007, participants in financial markets have been confronted by a crisis of their own making. In order to prevent the recurrence of a similar crisis in the future, the G-20 nations, at their finance summit in Washington on 15 November 2008, resolved to "ensure that all...
Persistent link: https://www.econbiz.de/10011128100
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Finanztransaktionssteuer: kurzfristigen Handel verteuern, Finanzmärkte stabilisieren
Schäfer, Dorothea - In: DIW Wochenbericht 79 (2012) 8, pp. 2-12
Eine Finanztransaktionssteuer kann neben der Finanzmarktregulierung das zentrale Instrument sein, um die Finanzmärkte in Zukunft wieder robuster zu machen. Wenn sie breit angelegt ist, zielt sie auf die Eindämmung von Regulierungsarbitrage, Blitzhandel, überaktivem Portfolio-Management und...
Persistent link: https://www.econbiz.de/10009649814