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I study the stock market reception of enhanced bank regulation. The Dodd-Frank Act - signed into law in July 2010 - established enhanced prudential standards (EPST) for bank holding companies with more than $50bn in assets (EPST banks). Investors update their beliefs instantaneously in response...
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The industries in which listed firms are concentrated in less developed equity markets are not random nor entirely explained by the underlying composition of production. Listed firms and market capitalization are disproportionately concentrated in industries that exhibit low complete-market...
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We document the prevalence around the world of increased stock price comovement experienced by companies when added to major indices, and shed new light on the causes of this phenomenon. Using newly-constructed and extensive data covering forty developed and emerging markets over the last...
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During the past two decades, there has been a dramatic change in IPO activity around the world. Though vibrant IPO activity, attributed to better institutions and governance, used to be a strength of the U.S., it no longer is. IPO activity in the U.S. has fallen compared to the rest of the world...
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trade and also highly capital intensive dependent on substantial investment amount. In the literature, ship investments have … not been widely examined through the firm-level investment theories to explore the link between investment level and asset … investments and market entry and exit conditions. In this paper, we extensively reviewed the literature of firm-level investment …
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One of the most conspicuous features of mergers is that they come in waves that are correlated with increases in share prices and price/earnings ratios. We use a natural way to discriminate between pure stock market influences on firm decisions and other influences by examining merger patterns...
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