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The UBS-Credit Suisse Merger : Helvetia's Gift

Böni, Pascal; Kroencke, Tim-Alexander; Vasvari, Florin P. - 2023

The UBS- Credit Suisse (CS) merger in March 2023, one of the biggest banking unions in history, was an emergency rescue … deal engineered by Swiss authorities to avoid more market-shaking turmoil in global banking. The merger resulted in a … around the merger announcement through abnormal returns to UBS stockholders (7.95%) and CS bondholders (34.74%), equivalent …

Persistent link: https://www.econbiz.de/10014349670

The impact of political risks on financial markets : evidence from a stock price crash perspective

Ma, Yanping; Wei, Qian; Gao, Xiang - In: International Journal of Financial Studies : open … 12 (2024) 2, pp. 1-16

Political risk, one of the most significant uncertainty shocks, affects firms' future attitudes toward risks and plays a crucial role in their decision making. A stock price crash risk is a classical topic in financial markets; therefore, this paper probes the relationship between firm-level...

Persistent link: https://www.econbiz.de/10014636314

Regretful Merger Arbitrageurs Rush to Leave : Target Stock Price Crashes of Ongoing M&As

Ge, Li; Veld, Chris; Zhang, Xiangpei - 2023

Regretful merger arbitrageurs may rush to sell target stocks for ongoing mergers and acquisitions when they expect a …

Persistent link: https://www.econbiz.de/10014349927

Credit Rating Agencies, Financial Market Stability and Efficiency

Bannier, Christina E. - 2011

Do rating agencies increase or decrease financial market stability? This paper analyzes whether credit rating agencies may help to avoid inefficient self-fulfilling credit defaults. If investors follow risk-dominant strategies, we show that rating announcements and investors' private information...

Persistent link: https://www.econbiz.de/10013133852

Crisis Management in Argentina During the 1994-95 Mexican Crisis : How Did Markets React?

Ganapolsky, Eduardo; Schmukler, Sergio L. - 1999

The Mexican crisis of 1994-95 had strong spillover effects on Argentina. The Argentine government successfully announced a series of policies to mitigate the contagion effects. This paper studies how capital markets reacted to each policy announcement and news. Capital markets welcomed...

Persistent link: https://www.econbiz.de/10014194825

High Frequency News in the European Financial Crisis

Chouliaras, Andreas - 2017

I perform textual analysis on high frequency (intraday) news articles. Selected articles are related to Euro-zone periphery crisis-affected countries (Portugal, Ireland, Italy, Greece, Spain). News pessimism affects stock returns negatively and volatility positively. Media pessimism does not...

Persistent link: https://www.econbiz.de/10012972080

Valuation and Systemic Risk Consequences of Bank Opacity

Jones, Jeffrey S. - 2014

We examine the effects of opacity on bank valuation and the synchronicity of bank equity prices over the years 2000-2006 prior to the 2007 financial crisis. Investments in opaque assets are more profitable than transparent assets, and controlling for profitability, have larger valuation...

Persistent link: https://www.econbiz.de/10013070815

An Assessment of Financial Sector Rescue Programmes

Settlements, Bank for International - 2014

We analyse the wide array of rescue programmes adopted in several countries, following Lehman Brothers' default in September 2008, in order to support banks and other financial institutions. We first provide an overview of the programmes, comparing their characteristics, magnitudes and...

Persistent link: https://www.econbiz.de/10013070843

Systemic Risk and Bank Consolidation : International Evidence

Weiß, Gregor - 2013

sector index to capture the merger-related change in an acquirer's contribution to systemic risk. In our empirical analysis …

Persistent link: https://www.econbiz.de/10013092527

An Assessment of Financial Sector Rescue Programmes

Faeh, Thomas - 2010

Persistent link: https://www.econbiz.de/10013143555