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Regional Economic Activity and Stock Returns
Smajlbegovic, Esad - 2015
This study analyzes the impact of regional economic conditions on stock returns. I identify all U.S. states that are economically relevant for a firm through textual analysis of annual reports and construct a novel proxy for regional economic activity. Using this proxy, I find that economic...
Persistent link: https://www.econbiz.de/10011301450
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Stock liquidity in forefront of anticipated announcements
Gelman, Sergey; Lushchikov, Roman - 2015
The paper studies the effects of anticipated earnings announcements on liquidity before the earnings announcement day, utilizing full limit order book data. We find very convincing supportive evidence of deteriorating liquidity due to the increase in information asymmetry, which is in line with...
Persistent link: https://www.econbiz.de/10011301772
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ECB Announcements and Stock Market Volatility
Neugebauer, Frederik - 2019
This paper documents that ECB announcements increase the stock market volatility in the euro area (EA) on the same day …. I consider two volatility measures from January 1998 to May 2019. First, a realized volatility measure uses intraday … data for 8 different stock market indices. Second, a range measure approximates volatility using daily prices from 11 …
Persistent link: https://www.econbiz.de/10012099116
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Does Corporate Culture Influence IPO Pricing?
Cumming, Douglas; Köchling, Gerrit; Neukirchen, Daniel; … - 2022
Persistent link: https://www.econbiz.de/10013359319
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CEO-speeches and stock returns
Bannier, Christina E.; Pauls, Thomas; Walter, Andreas - 2017
We analyze the market reaction to the sentiment of the CEO speech at the Annual General Meeting (AGM). Adapting a finance-specific German dictionary based on Loughran and McDonald (2011), we find that CEO speeches' textual sentiment is significantly related to abnormal stock returns and trading...
Persistent link: https://www.econbiz.de/10011712705
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Algorithmic Trading, Price Efficiency and Welfare: An Experimental Approach
Corgnet, Brice; DeSantis, Mark; Siemroth, Christoph - 2024
Persistent link: https://www.econbiz.de/10015056687
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Commodity exchange and institutional changes: Case of Iranian agricultural commodity exchange
Soltanpour, Yazdan - 2010
In this study, an attempt is to figure out the institutional changes that initiate the agricultural commodity exchange (ACE). To assess the affecting factors, new institutional economics approach has been chosen. The framework consisting of four levels of social analysis introduced by Oliver...
Persistent link: https://www.econbiz.de/10010307590
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Shadow Banking - A Geographical Interpretation
Battisti, Gianfranco - 2014
Basically, shadow banking is an original kind of business organization, or better a set of institutions and markets, finalized to disinvest fixed assets and convey them to the financial markets. Nowadays, tackling the subject means penetrating the hard core of financialization. Shadow banking...
Persistent link: https://www.econbiz.de/10011400051
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Tighter Credit and Consumer Bankruptcy Insurance
Mendicino, Caterina; Cavalcanti, Tiago; Antunes, Antonio; … - 2021
How does bankruptcy affect the dynamics of aggregate consumption? We quantify the trade-off between the insurance and creditworthiness effects of bankruptcy in response to tighter credit. We show that bankruptcy dampens the effect of tighter credit on aggregate consumption on impact because it...
Persistent link: https://www.econbiz.de/10012623153
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Contagious Stablecoins
van Buggenum, Hugo; Gersbach, Hans; Zelzner, Sebastian - 2023
Persistent link: https://www.econbiz.de/10014363744