Purpose – This paper aims to assess the impact of the global financial crisis of 2007-09 on the risk structure of S&P 500 firms by examining their market, active, and residual risks before and during the crisis. Design/methodology/approach – The classic one-factor model is estimated for each...

Purpose – The purpose of this paper is to investigate whether corporate dividend policy changed during the financial crisis. Design/methodology/approach – For this study, a life-cycle model is used to predict the probability that a firm pays a dividend. The data sample for this research...

Purpose – The current paper contributes to the vigorous debate about policies and regulations that would shield financial markets' participants from future events of the financial turmoil. In doing so, the paper aims to broaden the picture of the financial crisis contagion and set it against...

From the early 1990s until 1998, Argentina liberalised its banking system as part of a strategy to enter a globalised economy. The subsequent monetary policies, combined with 'convertibilidad' and an elevated government debt, led to a loss of confidence in the financial system, ending in the...

After the fuzziness in Europe that surrounded the implementation of the excessive deficit procedure foreseen by the Stability and Growth Pact (SGP), the European Union had to restore the credibility of the weakened fiscal rule. The constraint was to keep alive the Treaty of Amsterdam. Indeed, an...

To determine the impact of the economic downturn that officially hit Slovenia in 2009 on the number, purpose, type and budgets of business events held at Slovenian natural spas. The study’s aim is to develop guidelines in the field of business events management at Slovenian natural spas. The...

Financial integration among economies has the benefit of improving allocation efficiency and diversifying risk. However the recent global financial crisis, considered as the worst since the Great Depression has re-ignited the fierce debate about the merits of financial globalization and its...

This paper focuses on market discipline as a necessary condition to preserve the signaling content of balance sheet indicators and market prices as macroprudential tools. It argues that market discipline enhances the information content of market prices by reflecting the expected private cost of...

The global financial crisis triggered different policy responses in Europe and the United States. Interestingly, survey results suggest that there is also a significant difference in how undergraduate macroeconomics instructors responded to the crisis, with U.S. instructors placing significantly...

We narrate Ireland’s recent odyssey from the pride and envy of Europe to kneeling supplicant through the eyes of an econometric model of the government bond market. The exercise suggests that, in essence, two developments triggered and propelled Ireland’s drift towards sovereign default:...