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CDS and equity market reactions to stock issuances in the U.S. financial industry : evidence from the 2002-13 period
Cornett, Marcia Millon; Mehran, Hamid; Pan, Kevin; … - 2014
We study market reactions to seasoned equity issuances that were announced by financial companies between 2002 and 2013. To assess the risk and valuation implications of these seasoned equity issuances, we conduct an event analysis using daily credit default swap (CDS) and stock market pricing...
Persistent link: https://www.econbiz.de/10010423809
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Has "too big to fail" been solved? : a longitudinal analysis of major U.S. banks
Thosar, Satish; Schwandt, Bradley - In: Journal of risk and financial management : JRFM 12 (2019) 1/24, pp. 1-14
In the wake of the global financial crisis that erupted in 2008, there has been extensive commentary and regulatory focus on the 'Too Big to Fail' issue. In this paper, we survey the proposed solutions and regulatory initiatives that have been undertaken. We conduct a longitudinal analysis of...
Persistent link: https://www.econbiz.de/10012022346
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Bank Lobbying as a Financial Safety Net : Evidence from the Post-Crisis U.S. Banking Sector
Asai, Kentaro - 2020
economically significant in the post-crisis U.S. banking sector. This result is consistent with the reduced-form evidence and has …
Persistent link: https://www.econbiz.de/10012852488
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Measuring the capital shortfall of large U.S. banks
Jondeau, Eric; Khalilzadeh, Amir - 2018
We develop a methodology to measure the capital shortfall of commercial banks in a market downturn, which we call stressed expected loss (SEL). We simulate a market downturn as a negative shock on interest rate and credit market risk factors that reflect the banks' market-sensitive assets. We...
Persistent link: https://www.econbiz.de/10011877252
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Market Power and Efficiency in Banking : The Case of USA and Canada
U-Din, Salah - 2018
The banking markets of USA and Canada have gone through the Global Financial Crisis (GFC) and many other changes during … the period 2003-15. The USA banking market was impacted by the Global Financial Crisis (GFC), and several mergers occurred … banking sector, particularly with regard to competition …
Persistent link: https://www.econbiz.de/10012928215
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Bank CEO incentives and the credit crisis
Fahlenbrach, Rüdiger; Stulz, René M. - 2009
We investigate whether bank performance during the recent credit crisis is related to chief executive officer (CEO) incentives before the crisis. We find some evidence that banks with CEOs whose incentives were better aligned with the interests of shareholders performed worse and no evidence...
Persistent link: https://www.econbiz.de/10003970468
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The quiet run of 2011 : money market funds and the European debt crisis
Chernenko, Sergey; Sunderam, Adi - 2012
We document the consequences of money market fund risk taking during the European sovereign debt crisis. Using a novel data set of security-level holdings of prime money market funds, we show that funds with large exposures to risky Eurozone banks suffered significant outflows between June and...
Persistent link: https://www.econbiz.de/10009507044
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How Did Bank Lending to Small Business in the United States Fare After the Financial Crisis?
Cole, Rebel A. - 2019
-level data on both the stock and flow of small-business lending collected by U.S. banking regulators to provide new univariate …
Persistent link: https://www.econbiz.de/10012900554
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How Did the Financial Crisis Affect Small Business Lending in the U.S.?
Cole, Rebel A. - 2020
We analyze changes in lending by U.S. banks to businesses during 1994 – 2011. We find thatlending to businesses and, in particular, to small businesses, declined precipitously followingonset of the financial crisis. We also examine the relative changes in business lending by banksthat did, and...
Persistent link: https://www.econbiz.de/10012857401
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Internal vs. external corporate social responsibility at U.S. banks
Bolton, Brian - In: International Journal of Financial Studies : open … 8 (2020) 4/65, pp. 1-28
This study analyzes the effect that banks' investments in corporate social responsibility (CSR) have on bank performance. I find that banks' investments in CSR have a positive impact on financial performance, measured in terms of both accounting performance and stock market value. However, not...
Persistent link: https://www.econbiz.de/10012321121