We estimate time series of option implied Probabilities of Default (PoDs) for 19 major US financial institutions from 2002 to 2012. These PoDs are estimated as mass points of entropy based risk neutral densities and subsequently corrected for maturity dependence. The ob- tained time series are...

This study seeks to investigate the potential effects of the recent pandemic (COVID-19) on capital structure dynamics. The Gulf Cooperation Council (GCC) is a fascinating topic for this study because of its distinct economic characteristics. The analysis draws upon a cross-country dataset...

This paper seeks to investigate the connectivity of the US economy through the dynamics of the transmission of volatility in sectoral indices. For this, we use daily asset data and two methodologies. The first creates a spillover index that measures market connectivity and the second partitions...

Purpose The ownership structure in Japanese firms has experienced a significant change recently, fueled primarily by regulatory changes. This has important repercussions on corporate performance and risk. This paper examines the impact of insider ownership on the default risk of Japanese firms....

Luego de adelantar un examen de mercados asimétricos e información, el trabajo seorienta a una serie de consideraciones acerca de los flujos internacionales de capitalesentre los países, haciendo énfasis en los efectos sobre las economías más vulnerablesdel mundo. La intención central...

El presente trabajo da cuenta de las principales lecciones que se han recogido en materia de política monetaria y financiera sobre la crisis actual, y traza un paralelo con la crisis colombiana de los noventa (guardadas las proporciones) y con las acciones que de ella se derivaron. Además...

La crisis financiera de 2008 evidenció tanto las fragilidades del sistema financiero internacional como las consecuencias de la globalización financiera y comercial. Así, lo que comenzó como un problema de incumplimiento de pagos en el mercado inmobiliario estadounidense se tradujo en la...

Private investors are an increasingly important voice in sustainability challenges. We examine investors' attitudes and behavior towards sustainable investing through a survey of 5,030 Finnish private investors. We document that 60 percent of all respondents consider environmental, social, and...

Between 2016 and 2022, life insurers in several European countries experienced negative longterm interest rates, which put pressure on their business models. The aim of this paper is to empirically investigate the impact of negative interest rates on the stock performance of life insurers. To...

Xu (2022) estimates the causal impact of bank failures on the level of trades with a staggered difference-in-differences design and an IV strategy with Bartik instrument, using the 1866 banking crisis as a quasi-natural experiment. Findings, based on historical data on the trades and loans...