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The seeds for the 2007-09 financial collapse were sewn over many years and nurtured by ill-advised governmental housing policy, the presence of pervasive fraud both large and small and the widespread failure of personal integrity. A chronology of bad choices made by individuals and the...
Persistent link: https://www.econbiz.de/10012972692
. This study compares the impact of changing market concentration and power on the efficiency of the major banks in both the … efficiency during the 2007-09 period. Overall, Canadian banks posted better efficiency scores than their US counterparts. We find … that market power had a positive impact and market concentration a negative impact on bank efficiency. Market power is used …
Persistent link: https://www.econbiz.de/10012928215
Purpose - This paper investigates the development of efficiency and the progress of banking integration in the European … bootstrap DEA method, which absorbs the effects of possible integration barriers in the measurement of efficiency. Afterwards … for convergent clusters in banking efficiency. Findings - Our main findings show that the bank efficiency of the US is …
Persistent link: https://www.econbiz.de/10012887337
A non-parametric approach is used to examine the effects of globalization and deregulation on the efficiency and … efficient than small banks for most efficiency indices in both years. However, despite globalization, deregulation, and the … gains in technology and productivity, there was a decrease in overall efficiency for both large and small banks in 2003 …
Persistent link: https://www.econbiz.de/10013148964
Do short sales restrictions have an impact on security prices? We address this question in the context of a natural experiment surrounding the short sale ban of 2008 using a comprehensive sample of Canadian stocks cross-listed in the U.S. Among financial stocks, which were singled out by the ban...
Persistent link: https://www.econbiz.de/10003933290
of 2007/08 was not really a surprise –, and the five key requirements for restoring stability and efficiency in the EU …
Persistent link: https://www.econbiz.de/10003936131
Governments on both sides of the Atlantic have reacted with a raft of new regulations to the US subprime mortgage crisis. The article argues that while these new rules actually touch many of the incentive and information problems which were instrumental in creating the crisis, they only address...
Persistent link: https://www.econbiz.de/10009728449
In the immediate aftermath of the current financial crisis in the United States the response has been to resolve small and medium size banks, while large banks experiencing financial trouble have been given both direct and indirect government support. This, however, has resulted in a number of...
Persistent link: https://www.econbiz.de/10013114894
This paper examines transmission of shocks between the U.S. and foreign markets to delineate interdependence from contagion of the U.S. financial crisis by constructing shock models for partially-overlapping and non-overlapping markets. There exists important bi-directional, yet asymmetric,...
Persistent link: https://www.econbiz.de/10013037982
This paper examines the contagion effects of the U.S. subprime crisis on international stock markets using a DCC-GARCH model on 38 country data. We find evidence of financial contagion not only in emerging markets but also in developed markets during the U.S. subprime crisis. We also find...
Persistent link: https://www.econbiz.de/10013149007