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Full-Text Articles in Social and Behavioral Sciences
Disentangling The Impacts Of Industrial And Global Diversification On Firm Risk, Mohammad Jafarinejad, Thanh Ngo, Diego Escobari
Disentangling The Impacts Of Industrial And Global Diversification On Firm Risk, Mohammad Jafarinejad, Thanh Ngo, Diego Escobari
Economics and Finance Faculty Publications and Presentations
We examine the impact of corporate diversification on firm risk exposure from 1998 to 2016. We find that both global and industrial diversification mitigate idiosyncratic and world market risk while having a negligible impact on U.S. market risk, but the effects vary before, during, and after the financial crisis of 2007–2009. Before the crisis, only global diversification mitigates idiosyncratic risk, but it increases firms' exposure to world market risk. During the crisis, industrial diversification increases idiosyncratic risk, but both types of diversification increase exposure to U.S. market risk. After the crisis, both types of diversification increase firms' exposure to U.S. …
Promesa, Puerto Rico And The American Empire, Pedro Caban
Promesa, Puerto Rico And The American Empire, Pedro Caban
Latin American, Caribbean, and U.S. Latino Studies Faculty Scholarship
As the United States ascended to hyper-power status during the late 1970s, it changed colonial policy in Puerto Rico. The change, which included the elimination of favorable tax legislation and demilitarization, devastated Puerto Rico’s economy. Puerto Rico borrowed heavily in a failed effort to offset the dramatic decline in capital inflows. The federal government enacted PROMESA after Puerto Rico announced it could not repay the debt. The law was designed to restore Puerto Rico to financial solvency by imposing oppressive austerity measures. PROMESA was a watershed event because it stripped Puerto Rico of the limited sovereignty the federal government had …
Bank Net Interest Margins, The Yield Curve, And The 2007–2009 Financial Crisis, Peter V. Egly, David W. Johnk, Andre V. Mollick
Bank Net Interest Margins, The Yield Curve, And The 2007–2009 Financial Crisis, Peter V. Egly, David W. Johnk, Andre V. Mollick
Economics and Finance Faculty Publications and Presentations
Using quarterly call report data from 2000 to 2016, we reexamine the relationship between net interest margins (NIM) and the yield curve for more than 5,500 U.S. commercial banks. In the full sample, yield curve and RGDP growth have positive effects on NIM, while inflation and deposit‐to‐loan ratios (D/L) have negative effects. Splitting the sample around the 2007–2009 crisis, we show the impact of yield curve and RGDP growth on NIM increasing during the “recovery” (2009Q3 to 2016Q4), and inflation and D/L changing signs. Positive effects of yield curve on profits vary with bank size and change over time.
The Run Of Ourselves: Shame, Guilt And Confession In Post-Celtic Tiger Irish Media, Marcus Free, Clare Scully
The Run Of Ourselves: Shame, Guilt And Confession In Post-Celtic Tiger Irish Media, Marcus Free, Clare Scully
Articles
This article examines the emergence of the themes of shame and guilt in Irish print and broadcast media in the wake of Ireland’s 2008 economic collapse. It considers how the potential search for explanation of the crisis as a manifestation of unregulated banking and development sectors was displaced onto a confessional discursive pattern in which emphasis was placed on rampant borrowing and consumption as reflective of collective narcissism and acquisitive greed. Hence the logic that ‘hubris’ led inevitably to a national fall from grace and the corresponding resurgence of postcolonial shame; and the interplay between cultural nationalist and neoliberal discourses …