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This paper investigates the strategic incentives for vertical foreign investment by risk-neutral oligopolistic firms …
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multinationals. Multinational firms are more exposed to risk: following a negative shock, they are reluctant to exit the foreign …
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. Shocks to interest or exchange rates could generate damaging feedback loops if credit risk concerns were to prevent existing …
Persistent link: https://www.econbiz.de/10013047087
stock returns around the world …
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This paper studies volatility spillovers in credit default swaps (CDS) between the corporate sectors and Latin American countries. Daily data from October 14, 2006, to August 23, 2021, are employed. Spillovers are computed both for the raw data and for filtered series which factor out the effect...
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Using the monthly returns of 37,854 firms in 23 developed markets over the period 1990-2015, we document that multinational companies earn higher returns than domestic companies by 24 basis points per month. This finding is further confirmed by using a sample of 18,996 U.S. firms over the period...
Persistent link: https://www.econbiz.de/10012854786
We investigate the pricing of market volatility risk as a risk factor – the innovation risk and as a characteristic … risk – the level risk. We find that the pricing of the country-level (local) market volatility risk factor is not robust … across 21 developed markets and that the global market volatility risk factor prices 21 developed market portfolios after …
Persistent link: https://www.econbiz.de/10012857113