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The real consequences of macroprudential FX regulations
Jung, Hyeyoon - 2021
for the firms that were heavily relying on FXD hedging. I offer a mechanism in which imbalances in hedging demand, banks …
Persistent link: https://www.econbiz.de/10012660371
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After Effects of Global Financial Crisis on Indian Derivatives Market
2012
India. The predominance of single stock futures as a derivative product has now been replaced by the predominance of Index … option as a favorite derivative product in India. The speculative nature of single stock futures has been the prime reason … for the dominance of this derivative product in the pre-crisis period. However, the cautious risk-aversion on the part of …
Persistent link: https://www.econbiz.de/10013114339
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Impact of Economic Crises on the Price Discovery Dynamics of Spot & Index Futures Market
Avinash - 2017
We investigate the effect of economic crises on the direction of information flow and price discovery efficiency of spot and futures market by considering the near month Nifty50 index futures and its corresponding spot index. The period of study commences from January, 2004 to December, 2015 and...
Persistent link: https://www.econbiz.de/10012952496
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The Economic Effects of Financial Derivatives on Corporate Tax Avoidance
Donohoe, Michael P. - 2014
This study estimates the corporate tax savings from financial derivatives. I document a 3.6 and 4.4 percentage point reduction in three-year current and cash effective tax rates (ETRs), respectively, after a firm initiates a derivatives program. The decline in cash ETR equates to $10.69 million...
Persistent link: https://www.econbiz.de/10013044199
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An evaluation of the contractionary devaluation hypothesis
Bebczuk, Ricardo (contributor);  … - 2006
Recent empirical and theoretical literature on the impact of real exchange rate devaluations on economic performance questions the traditional expansionary effect generated within standard Mundell-Fleming models. Contractionary devaluations may arise when firms face maturity or currency...
Persistent link: https://www.econbiz.de/10003775738
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How Post-Crisis Regulation Has Affected Bank CEO Compensation
Cerasi, Vittoria - 2017
This paper assesses whether compensation practices for bank Chief Executive Officers (CEOs) changed after the Financial Stability Board (FSB) issued post-crisis guidelines on sound compensation. Banks in jurisdictions which implemented the FSB's Principles and Standards of Sound Compensation in...
Persistent link: https://www.econbiz.de/10012957852
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Spare Tire? Stock Markets, Banking Crises, and Economic Recoveries
Levine, Ross - 2018
Do stock markets act as a spare tire during banking crises, providing an alternative corporate financing channel and mitigating the economic severity of these crises? Using firm-level data in 36 countries from 1990 through 2011, we find that the adverse consequences of banking crises on equity...
Persistent link: https://www.econbiz.de/10012937548
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Coco Issuance and Bank Fragility
Avdjiev, Stefan - 2017
The promise of contingent convertible capital securities (CoCos) as a 'bail-in' solution has been the subject of considerable theoretical analysis and debate, but little is known about their effects in practice. In this paper, we undertake the first comprehensive empirical analysis of bank CoCo...
Persistent link: https://www.econbiz.de/10012942917
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Do Asset Price Bubbles have Negative Real Effects?
Chakraborty, Indraneel - 2020
In the recent recession and current economic recovery, policymakers have supported asset prices in the U.S. treasury and mortgage markets, expecting that improvement in the balance sheet of banks will lead to more commercial lending. In general, we document that increases in housing prices in a...
Persistent link: https://www.econbiz.de/10012825308
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Labor Unemployment Risk and CEO Incentive Compensation
Ellul, Andrew - 2017
We investigate the impact of workers' exposure to unemployment risk on CEO incentive compensation. Exploiting state-level changes in unemployment benefits as a source of variation in workers' unemployment costs, we find that after unemployment insurance benefits become more generous boards...
Persistent link: https://www.econbiz.de/10012971766