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Effects of regulator's announcements, information asymmetry and ownership changes on private equity placements: Evidence from China

Fonseka, M.M.; Colombage, Sisira R.N.; Tian, Gao-Liang - In: Journal of International Financial Markets, … 29 (2014) C, pp. 126-149

In response to the China Securities Regulatory Commission's regulation of private equity placements (PEP) in 2006, this study investigates the impact of the announcements of PEP applications, withdrawals, rejections, approvals, and completions on the returns of the firms that issue private...

Persistent link: https://www.econbiz.de/10010743664

Catastrophe Insurance Modeled by Shot-Noise Processes

Schmidt, Thorsten - In: Risks 2 (2014) 1, pp. 3-24

Shot-noise processes generalize compound Poisson processes in the following way: a jump (the shot) is followed by a decline (noise). This constitutes a useful model for insurance claims in many circumstances; claims due to natural disasters or self-exciting processes exhibit similar features. We...

Persistent link: https://www.econbiz.de/10010744574

Bank Credit Risk Management and Rating Migration Analysis on the Business Cycle

Gavalas, Dimitris; Syriopoulos, Theodore - In: International Journal of Financial Studies 2 (2014) 1, pp. 122-143

Credit risk measurement remains a critical field of top priority in banking finance, directly implicated in the recent global financial crisis. This paper examines the dynamic linkages between credit risk migration due to rating shifts and prevailing macroeconomic conditions, reflected in...

Persistent link: https://www.econbiz.de/10010748007

Family-Concentrated Ownership in Chinese PLCs: Does Ownership Concentration Always Enhance Corporate Value?

Luo, Jin-Hui; Liu, Heng - In: International Journal of Financial Studies 2 (2014) 1, pp. 103-121

In this paper we investigate the relationship between family ownership structure and corporate value across a sample of 1314 firm-year observations of China’s family publicly listed companies (PLCs), from 2004 to 2008. We find a significant inverse-U-shaped relationship between the controlling...

Persistent link: https://www.econbiz.de/10010748008

Financial Stability Board: Mandate and Implementation of Its Systemic Risks Standards

Weber, Rolf H.; Staiger, Dominic N. - In: International Journal of Financial Studies 2 (2014) 1, pp. 82-102

The aim of this essay is to provide an overview of the Financial Stability Board’s (FSB) mandate and tools to safeguard financial stability and reduce systemic risks based on the methodological perspective of a legal analysis. It examines some of the recommendations that the FSB has published,...

Persistent link: https://www.econbiz.de/10010748009

Sovereign Credit Risk and Stock Markets–Does the Markets’ Dependency Increase with Financial Distress?

Silva, Paulo Pereira da - In: International Journal of Financial Studies 2 (2014) 1, pp. 145-167

-movement increases in periods of financial distress. I also analyze the transmission of volatility between the two markets. The results … do not support the hypothesis that volatility propagation surges during financial distress periods. On the contrary, for … some cases, the data suggests that the lead-lag relationships between the two markets volatility are stronger during stable …

Persistent link: https://www.econbiz.de/10010752370

Modeling Cycle Dependence in Credit Insurance

Caja, Anisa; Planchet, Frédéric - In: Risks 2 (2014) 1, pp. 74-88

Business and credit cycles have an impact on credit insurance, as they do on other businesses. Nevertheless, in credit insurance, the impact of the systemic risk is even more important and can lead to major losses during a crisis. Because of this, the insurer surveils and manages policies almost...

Persistent link: https://www.econbiz.de/10010752371

The Long-Term Game: An Analysis of the Life Expectancy of National Football League Players

Koning, Ruud; Matheson, Victor; Nathan, Anil; Pantano, James - In: International Journal of Financial Studies 2 (2014) 1, pp. 168-178

The National Football League (NFL) has recently received significant negative media attention surrounding the safety of its players, revolving largely around the long term health risks of playing the sport. Recent premature deaths and instances of suicide associated with chronic traumatic...

Persistent link: https://www.econbiz.de/10010752733

Distinctive Features of BBB- and BB-Graded Firms Using Earnings Management and Conservatism: Evidence from the Korean Market

Yoo, Youngtae; Lee, Jaehong; Chang, Jinho - In: Review of Pacific Basin Financial Markets and Policies … 17 (2014) 01, pp. 1450005-1

The purpose of this paper is to inform investors of differences in opportunistic behavior between managers of BBB- and BB-graded firms as measured by earnings management and accounting conservatism. Previous studies investigate the gaps between grades and between investment and speculative...

Persistent link: https://www.econbiz.de/10010752801

Institutional Trading and Stock Returns: Evidence from China

Frijns, Bart; Lai, Qiang; Tourani-Rad, Alireza - In: Review of Pacific Basin Financial Markets and Policies … 17 (2014) 01, pp. 1450003-1

Using a unique dataset containing daily institutional ownership information, we examine the relation between daily institutional trading and past, contemporaneous, and future stock returns on the Shanghai Stock Exchange (SSE). We find strong evidence of the price pressure effect induced by...

Persistent link: https://www.econbiz.de/10010752802