This paper analyzes bank stock prices around the world to assess the impact of the COVID-19 pandemic on the banking sector. Using a global database of policy responses during the crisis, the paper also examines the role of financial sector policy announcements on the performance of bank stocks....

This study applies financial crises as an exogenous shock to family and non-family firms to identify differences in stock market performance. We investigate 278 firms listed on the German Stock Exchange in the world financial crisis starting in 2007 as well as the Euro crisis starting in 2010....

Geographic expansion negatively impacts bank outcomes during recessions. While increases in average bank-to-branch distance for a given bank have a small positive impact on bank performance, increases in average bank-to-branch distance across all banks negatively impact performance as a result...

This paper examines common risk factors in Euro-denominated corporate bond returns before and after recent financial crisis. Our results suggest that level and slope of interest rate and default spread term structures significantly improve the explanatory power of asset pricing models for the...

This study assesses the relationship between the likelihood of future stock price crashes and conservatism-an accounting characteristic that leads to the undervaluation of accounting net assets relative to economic net assets. This undervaluation is achieved by less stringent verification...

This paper investigates whether the health of a bank affects the client firm's capital structure and then leads to inefficiency in the client firm's decision-making. Using the Japanese IPO dataset from 1996 to 2005 when bank sectors suffered liquidity shortages and IPO booms occurred at the same...

The signaling hypothesis suggests that firms have incentives to underprice their initial public offerings (IPOs) to signal their quality to the outside investors and to issue seasoned equity (SEO) at more favorable terms. While the initial empirical evidence on the signaling hypothesis was weak,...