The distinction between GSIBs (systemic banks) and non GSIBs (non-systemic banks) is driven by policy reasons. I examine the behaviour of non-performing loans in European systemic and non-systemic banks, and find that more profitable banks witness higher non-performing loans regardless of...

I examine the behaviour of non-performing loans in European systemic and non-systemic banks. The distinction between systemic banks (GSIBs) and non-systemic banks (non GSIBs) is driven by policy reasons. The findings reveal that more profitable banks witness higher non-performing loans...

The classical Friday the 13th Effect refers to a calendar anomaly of financial markets which is generated by the fear of bad luck shared by the superstitious investors. As a result of their behavior, the returns from the supposed unlucky day of Friday the 13th are significant lower than those...

The purpose of this project is to determine if calendar effects observed in stock markets can be explained by prospect theory. In order to answer this question, I have created an agent based model simulating a stock market. There was no sign of any calendar effect in any of the configurations...

This article takes its cue from the relevance of the framing effect in the field related to behavioural biases associated with economic decision-making. Most of the attempts made to measure financial literacy relies on surveys that include standardized questions about the knowledge of three or...

This paper approaches some simple methods for the calendar anomalies identification. Taking the TOY Effect as an example, we show how the t tests or the OLS regressions could be used to detect a seasonal component of the financial assets’ returns.

Investors are told to be overreacting when their sentiment drives the price of a certain security up (down) enough to make it the biggest winners (loser), in most cases considering this overreaction period as long as 3 or 5 years. This paper studies the overreaction hypothesis in market indices....

Some calendar anomalies that were detected in the stock markets could be also found in the foreign exchange markets. This paper approaches the presence of Turn-of-the-Year Effect in the logarithmic returns of Romanian leu – US dollar exchange rate daily values for a period that starts in July...

The recent coronavirus disease 2019 (COVID-19) generated some non-routine problems, characterized by a high degree of uncertainty which makes difficult the solving by the full rational decision making models. In the field of finance, such problems are those associated to the fiscal and monetary...

We investigate whether the so-called textual sentiment has any impact on European depositors’ behavior to withdraw their deposits. After the manual collection of monthly speeches of the president of the European Central Bank (ECB hereafter) we apply textual analysis techniques following the...