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-movement of world stock exchanges. This study also investigates the relationship between herding and systemic risk, suggesting …
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This paper proposes an early-warning bank risk measure based on the syndicate concentration of recent syndicated loans that a bank participates in. At the bank level, higher values of the measure predict greater risks (i.e., loan loss provisions, idiosyncratic return volatility, default...
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the world to a global common factor - the global financial cycle. Using voting patterns at the United Nations as a measure …
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