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...
Ngày tải lên: 29/03/2014, 03:20
Tài liệu Informational efficiency of loans versus bonds: Evidence from secondary market prices pptx
... changes. 17 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...
Ngày tải lên: 16/02/2014, 02:20
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. 18 Informational efficiency of loans versus bonds: Evidence from secondary market prices Edward Altman, Amar Gande, and Anthony S...
Ngày tải lên: 15/03/2014, 07:20
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...
Ngày tải lên: 16/02/2014, 10:20
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...
Ngày tải lên: 15/03/2014, 10:20
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...
Ngày tải lên: 22/03/2014, 21:20
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...
Ngày tải lên: 06/03/2014, 19:20
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...
Ngày tải lên: 15/03/2014, 14:20
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...
Ngày tải lên: 22/03/2014, 12:20