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Rating Agency Reputation, the Global Financial Crisis, and the Cost of Debt

Han, Seung Hun - 2010

firm, after controlling for other factors. This suggests that the credibility and reputation of the global rating agencies …

Persistent link: https://www.econbiz.de/10013137991

Collective Reputations, Trust Premium, and Corporate Misconduct

Chan, Konan; Lin, Tse-Chun; Kong, De-Rong - 2021

We examine the relationship between collective country reputations and foreign stock returns following news of corporate scandals. We find that investors punish not only the scandalous foreign firm but also other firms from the same country of origin, especially those coming from more...

Persistent link: https://www.econbiz.de/10013220304

Competition in Exchanges and Reputational Concerns

Boussetta, Selma - 2021

reputation effects induces strategic behaviour. The results show that overestimating the quality of a project is an equilibrium … despite the presence of reputation costs. Counterintuitively, introducing competition leads to more lax requirements than in … the monopolistic case and reduces welfare as long as the reputation of the competitor is higher than that of the …

Persistent link: https://www.econbiz.de/10013222422

Conflicts of Interest, Reputation, and the Interwar Debt Crisis: Banksters or Bad Luck?

Flandreau, Marc; Gaillard, Norbert; Panizza, Ugo - C.E.P.R. Discussion Papers - 2010

reputation played an important role in intermediaries’ underwriting choices. Next, the paper checks whether banks managed to …

Persistent link: https://www.econbiz.de/10008468539

Evidence for Dynamic Contracts in Sovereign Bank Lending

Benczur, Peter; Ilut, Cosmin - Duke University, Department of Economics - 2011

This paper presents direct evidence for self-enforcing dynamic contracts in sovereign bank lending. Unlike the existing empirical literature, its instrumental variables method allows for distinguishing a direct influence of past repayment problems on current spreads (a "punishment" effect in...

Persistent link: https://www.econbiz.de/10009145730

Determinants of Spreads on Sovereign Bank Loans: The Role of Credit History

Banczúr, Péter; Ilut, Cosmin - Magyar Nemzeti Bank (MNB) - 2006

instrumental variables method allows for distinguishing a direct influence of past repayment problems (a ”pure reputation” effect …, indicating that most of the influence of past repayment problems is through the reputation channel. Overall, past and predicted …

Persistent link: https://www.econbiz.de/10005562433

Supply matters for asset prices : evidence from IPOs in emerging markets

Braun, Matías (contributor); Larrain, Borja (contributor) - 2006 - This version: December 2005 (first draft: June 2005)

We show that the introduction of a new asset affects the prices of previously existing assets in a market. Using data from 254 IPOs in emerging markets, we find that stocks in industries that covary highly with the industry of the IPO experience a larger decline in prices relative to other...

Persistent link: https://www.econbiz.de/10003286753

Why Issue Bonds Offshore?

Black, Susan - 2010

This paper asks why Asia-Pacific residents issue debt in offshore markets and considers the implications for domestic debt markets. We use unit record data for bond issuance by non-government residents of Australia, Hong Kong, Korea, Japan and Singapore to link the decision to issue offshore to...

Persistent link: https://www.econbiz.de/10013135107

The Short-Run Underpricing of Initial Public Offerings in the Sri Lankan Stock Market

Samarakoon, Lalith P. - 2010

This study investigates underpricing of IPOs in Sri Lanka. On average, IPOs are underpriced by 34%. Small issues are … sentiment is positively related with underpricing and affects small and large issues similarly. Small privatization issues are … more underpriced than large privatization issues and partially explain the asymmetry in underpricing between small and …

Persistent link: https://www.econbiz.de/10013140112

Seasoned Equity Offerings by Small and Medium-Sized Enterprises

Carpentier, Cécile - 2012

Most of the analyses of small firms' decision to seek outside equity financing and the conditions thereof have concerned private firms. Knowledge of the risk and return of entrepreneurial ventures for outside investors is consequently limited. This paper attempts to fill this gap by examining...

Persistent link: https://www.econbiz.de/10013114776