Bank Debt versus Bond Debt: Evidence from Secondary Market Prices ppt
Bank Debt versus Bond Debt: Evidence from Secondary Market Prices ppt
... loans
over bonds, we find evidence that secondary market loan returns Granger cause sec-
ondary market bond returns, whereas secondary market bond returns do not Granger
cause secondary market loan ... SAUNDERS
Bank Debt versus Bond Debt: Evidence from
Secondary Market Prices
This paper uses a new data set of daily secondary market prices of loans...
Tài liệu Informational efficiency of loans versus bonds: Evidence from secondary market prices pptx
... changes.
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Informational efficiency of loans versus bonds:
Evidence from secondary market prices
Edward Altman, Amar Gande, and Anthony Saunders
∗
December 2004
∗
Edward Altman is from the Stern School of Business, ... efficiency of loans relative to bonds using a
unique dataset of daily secondary market prices of loans. We find that the loan market
is informationally more e...
Informational efficiency of loans versus bonds: Evidence from secondary market prices potx
... Corporate Intermediate Bond Index as a market index for bonds).
13
Thus, the
third measure is a market- adjusted return, i.e., the return on a market index is subtracted
from a loan or bond daily return ... due to concerns of
multicollinearity.
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Informational efficiency of loans versus bonds:
Evidence from secondary market prices
Edward Altman, Amar Gande, and Anthony S...
Tài liệu FOREIGN BANK ENTRY AND BUSINESS VOLATILITY: EVIDENCE FROM U.S. STATES AND OTHER COUNTRIES docx
... Evidence
from Bank Branch Deregulation.” Quarterly Journal of Economics 111(3): 639–
70.
———. 1998. “Entry Restrictions, Industry Evolution, and Dynamic Efficiency:
Evidence from Commercial Banking.” ... can sort out integration stemming from endogenous
forces—such as banks’ appetite to enter new states when the incumbent banks
are weak from integration stemming from policy cha...
Working PaPer SerieS no 1272 / DeCeMBer 2010: THe iMPaCT of PuBliC guaranTeeS on Bank riSk Taking eviDenCe froM a naTural exPeriMenT pptx
... banks and
cooperative banks) to savings banks branches per group of savings banks and year. The
data comes from the Bundesbank.
14
In line with Keeley (1990) and Dick (2006), we expect
that banks ... liquidity
from savings banks with excess liquidity to those with liquidity shortfalls. In addition, the
federal state banks secure market funding through the issuance of bonds. Federal stat...
Bank Funding Structures and Risk: Evidence from the Global Financial Crisis pptx
... capital to risk-weighted assets.
B. Global Banks Versus Domestic Banks
As noted before, we classify banks in two categories, namely Global banks and Domestic
banks, using information on their size, ... the non-failed banks. Furthermore, the
NSFR follows a declining trend in the pre-crisis period, which reverts from 2007 for the
Domestic banks, and from 2008 for the Global banks. In...
Deep Recessions, Fast Recoveries, and Financial Crises: Evidence from the American Record ppt
... member banks, from the Fed’s Banking and Monetary Statisti c s,
1914-1941 No. 18, All Member banks-Principal assets, “Loans” p. 72-74. The
data were pushed forward to 1955 Q4 using the data from Banking ... state bank data. The national bank
data came from the NBER seri e s, adding up NBER 14016, Loans and Discounts,
national banks, country districts, NBER 14018, Loans and discounts...
Is there Room for Forex Interventions under Inflation Targeting Framework? Evidence from Mexico and Turkey pptx
... Reserve Bank could intervene directly in the foreign exchange
market to counteract “disorderly market conditions”; in practice the
Reserve Bank has not intervened since 1985.
Reserve Bank Governor ...
Central Bank First Deputy Governor speech,
September 2001
United Kingdom
The Bank of England can intervene in the foreign exchange market. Bank of England fact sheet o...
Who carries the Burden of Reproductive Health and AIDS Programs? Evidence from OECD Donor Countries ppt
...
extracted from the World Bank Development Indicators (edition 2004). The ODA variable is
corrected for the influence of population aid by subtracting funds to population and AIDS
14
programs from ... general insight from this
particular type of collective action problem is that the Nash level of foreign aid is less than the
Pareto efficient level of aid. In other words, the mar...