This paper examines the reaction of the Spanish continuous market to the announcement of securitisation operations by listed banks in the period 1993-2003. Results indicate the existence of positive and significant abnormal returns on the day immediately following the announcement date. The...

First externalities risk due to the size of the companies or the principle that large companies are also at risk of bankruptcy (too big to fail) are examined. The problem is illustrated by a case in which extreme risks with negative consequences for savers and investors are taken. If we...

In view of recent corporate scandals, it is argued that corporate governance can learn from public governance. Institutions devised to control and discipline the behaviour of executives in the political sphere can give new insights into how to improve the governance of firms. Some proposal such...

This paper studies the influence of short sales bans on the Spanish stock market, and its objective is to know if this corrective measure has had positive effects on the market. To determine this influence, we have studied the profitability, risk and liquidity of Ibex 35 in the period between...

This paper studies the influence of short sales bans on the Spanish stock market, and its objective is to know if this corrective measure has had positive effects on the market. To determine this influence, we have studied the profitability, risk and liquidity of Ibex 35 in the period between...

The Basel Committee on Banking Supervision (BCBS) has defined operational risk (OR) as the risk of loss resulting from inadequate or failed internal processes, people and systems from external events. This definition includes legal risk, but excludes strategic and reputational risk....

Peru has an economy partially "dollarized" where 70% of the liquidity of the bank system has been in US dollars during the last decade. Most of the salaries and goods trading are in "soles" (Peruvian currency) but the companies and people borrow and save in US dollars. This "dollarization"...

Resumen El presente documento realiza una descripción del proceso de pruebas de tensión bancaria, tanto en los principales mercados financieros del mundo como en Chile. Para ello se discute y describe, qué son las pruebas de tensión bancaria, cuál es su origen, para qué sirven, las etapas...

El trabajo tiene como objetivo determinar los factores que explican los niveles de ineficiencia técnica del sector bancario boliviano en el período post-liberalización financiera. Los resultados obtenidos mostraron que los factores que explicarían los niveles de ineficiencia son...

This document describes the main issues of the New Basel Accord, highlights the roles and organization of the Basel Committee on Banking Supervision (BCBS) and the Bank for International Settlements (BIS), and offers some arguments against some of the criticism that has been voiced against the...