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The light and dark side of TARP : conference paper
Uhde, André; Farruggio, Christian; Michalak, Tobias C. - 2013
This paper empirically investigates the impact of the first announcement of TARP, the announcement of revised TARP …, respective capital infusions under TARP-CPP and capital repayments on changes in shareholder value and the risk exposure of … supported U.S. banks. Our analysis reveals a light and a dark side of TARP. While announcements as well as capital repayments …
Persistent link: https://www.econbiz.de/10010338393
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Evaluating the information in the Federal Reserve stress tests
Flannery, Mark; Hirtle, Beverly J.; Kovner, Anna - 2015
We find evidence that the Federal Reserve stress tests (CCAR and DFAST) produce information about the stress-tested firms as well as other, non-stress-tested banking companies. Although standard event studies do not always show abnormal returns for the stress-tested sample on average, we argue...
Persistent link: https://www.econbiz.de/10011342852
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The light and dark side of TARP
Farrugio, Christian; Michalak, Tobias C.; Uhde, André - In: Journal of banking & finance 37 (2013) 7, pp. 2586-2604
Persistent link: https://www.econbiz.de/10009760582
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TARP effect on bank lending behaviour : evidence from the last financial crisis
Puddu, Stefano; Waelchli, Andreas - 2015 - This version: April 2014
measure whether banks that benefited from the Troubled Asset Relief Program (TARP) increase small business loan originations …. We propose an identification strategy which exploits the ownership structureof bank holding companies. We find that TARP … banks provide on average 19% higher small business loan originations than NO TARP banks. The disaggregated data allows us to …
Persistent link: https://www.econbiz.de/10011410414
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Is size everything?
Antill, Samuel; Sarkar, Asani - 2018
-implied subsidies predict the Federal Reserve's liquidity facility loans and the Treasury's TARP loans during the crisis, both in the …
Persistent link: https://www.econbiz.de/10011894404
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Evaluating the information in the Federal Reserve stress tests
Flannery, Mark; Hirtle, Beverly J.; Kovner, Anna - 2015
We find evidence that the Federal Reserve stress tests (CCAR and DFAST) produce information about the stress-tested firms as well as other, non-stress-tested banking companies. Although standard event studies do not always show abnormal returns for the stress-tested sample on average, we argue...
Persistent link: https://www.econbiz.de/10011460649
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Intra-Industry Contagion Effects of Earnings Surprises in the Banking Sector
Prokopczuk, Marcel - 2012
In this paper we investigate whether contagion is present in the banking sector by analyzing how banks are affected by negative earnings surprises from their competitors. The banking sector is of crucial importance for the economy and, thus, highly regulated on an individual bank level. However,...
Persistent link: https://www.econbiz.de/10013116421
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The Value of Being Systemically Important : Event Study on Regulatory Announcements for Banks
Kleinow, Jacob - 2015
It is assumed that the awarding of a "systemic importance" seal by the regulator has a positive effect on the equity value of its holder. By employing an event study analysis on a new set of regulatory announcements, we find that financial market participants react to these announcements which...
Persistent link: https://www.econbiz.de/10013034358
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The impact of non-performing loan sales on the stock market : the role of corporate governance in an emerging market
Pirgaip, Burak; Uysal, Aydın - In: Borsa Istanbul Review 23 (2023) 3, pp. 674-684
Over the past decade, one popular way for Turkish banks to remove nonperforming loans (NPLs) from their balance sheets has been to sell them to asset management companies. We examine the short-term market reaction to the announcements of such NPL sales over the period 2009-2019. We also consider...
Persistent link: https://www.econbiz.de/10014308822
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The importance of being systemically important financial institutions
Bongini, Paola; Nieri, Laura; Pelagatti, Matteo - In: Journal of Banking & Finance 50 (2015) C, pp. 562-574
We investigate whether financial markets reacted to the regulatory changes implied by the publication of the list of systemically important financial institutions (SIFI) and the new rules designed to address the too-big-to-fail problem of systemic banks. By applying event study methodology to a...
Persistent link: https://www.econbiz.de/10011118119