Open Access. Powered by Scholars. Published by Universities.®
Finance and Financial Management Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 5 of 5
Full-Text Articles in Finance and Financial Management
Earnings Response Coefficients Of Oecd Banks: Tests Extended To Include Bank Risk Factors, Mohamed Ariff, Cheng Fan Fah, Soh Wei Ni
Earnings Response Coefficients Of Oecd Banks: Tests Extended To Include Bank Risk Factors, Mohamed Ariff, Cheng Fan Fah, Soh Wei Ni
Mohamed Ariff
We investigate two issues: Do share prices of banks in European markets respond to unexpected accounting earnings disclosures? Are share prices as well as unexpected earnings changes correlated with bank-relevant risk factors? Results reveal that bank share prices respond to unexpected earnings changes at the time of accounting reports in the same manner as the shares of the more widely-researched non-bank firms. Apart from finding significant earnings response coefficients in eight countries, we find that credit risk, price risk, exchange rate risk, and solvency risk are significantly correlated with share price changes. Third, three bank risk factors are significantly correlated …
Financial Liberalization, Market Structure And Credit Penetration, Felipe Balmaceda Assoc Prof., Ronald Fischer Full Professor, Felipe Ramirez
Financial Liberalization, Market Structure And Credit Penetration, Felipe Balmaceda Assoc Prof., Ronald Fischer Full Professor, Felipe Ramirez
Felipe Balmaceda
This paper shows that the effects of financial liberalization on the credit market of a small and capital constrained economy depend on the market structure of domestic banks prior to liberalization. Specifically, under perfect competition in the domestic credit market prior to liberalization, liberalization leads to lower domestic interest rates, in turn leading to increased credit penetration. However, when the initial market structure is one of imperfect competition, liberalization can lead to the exclusion of less wealthy entrepreneurs from the credit market. This provides a rationale for the mixed empirical evidence concerning the effects of liberalization on access to credit …
The Impact Of Reversing Regulatory Arbitrage On Loan Originations: Evidence From Bank Holding Companies, Lan Shi, David H. Downs
The Impact Of Reversing Regulatory Arbitrage On Loan Originations: Evidence From Bank Holding Companies, Lan Shi, David H. Downs
Lan Shi
No abstract provided.
Impact Of Affect Heuristic, Fear And Anger On Decision Making Of Individual Investor: A Conceptual Study, Ehsan Ul Hassan, Fahad Shahzeb, Maryum Shaheen, Qamar Abbas, Zahid Hameed, Ahmed Imran Hunjra
Impact Of Affect Heuristic, Fear And Anger On Decision Making Of Individual Investor: A Conceptual Study, Ehsan Ul Hassan, Fahad Shahzeb, Maryum Shaheen, Qamar Abbas, Zahid Hameed, Ahmed Imran Hunjra
Ahmed Imran Hunjra (PhD)
Financial theories support the efficient market hypothesis, which assumes that prices are fair in the market and investors behave rationally while taking any investment decision. Individual Investors of the stock market are therefore thought to take rational decisions while making judgments and investment decisions. However, a lot of studies on behavioral finance have criticized the phenomenon of market efficiency and investor’s rationality. The empirical evidences of these studies conclude the involvement of behavioral biases and psychological impacts on investor’s judgments and decision making. Keeping this in mind the present study has focused on studying the impact of affect heuristic, fear …
Transaction Costs Analysis Of Low-Carbon Technologies, Luis Mundaca T., Mathilde Mansoz, Lena Neij, Govinda R. Timilsina
Transaction Costs Analysis Of Low-Carbon Technologies, Luis Mundaca T., Mathilde Mansoz, Lena Neij, Govinda R. Timilsina
Luis Mundaca
Transaction costs (TCs) must be taken into account when assessing the performance of policy instruments that create markets for the diffusion and commercialization of low-carbon technologies (LCTs). However, there are no comprehensive studies on the development and application of transaction cost analysis to LCTs. In this meta-analysis, a wide-ranging evaluation of TCs associated with energy efficiency, renewable energy, and carbon market technologies is provided. There is a plethora of different definitions of, and measurement techniques to estimate, TCs. There is wide variation in the quantitative estimates, which can be attributed to factors such as the definition used, data collection, quantification …