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When is there a strong transfer risk from the sovereigns to the corporates?

Bai, Jennie; Wei, Shang-jin - 2012

When a sovereign faces the risk of debt default, it may be tempted to expropriate the private sector. This may be one reason why international investment in private companies has to take into account the sovereign risk. But the likelihood of sovereign risk transferring to corporates and...

Persistent link: https://www.econbiz.de/10010333592

Privatisation, political risk and stock market development in emerging economies

Perotti, Enrico C.; van Oijen, Pieter - 1999

This paper investigates whether privatisation in emerging economies has a significant indirect effect on local stock market development through the resolution of political risk. We argue that a sustained privatisation programme represents a major political test which gradually resolves...

Persistent link: https://www.econbiz.de/10011608502

Financial development: A broader perspective

Reid, Richard - 2010

This paper seeks to add to the current debate about financial development and growth in the emerging world by looking … may be more fruitful for today's emerging world to concentrate more on addressing the needs of savers and borrowers in … each individual system. A major lesson for the emerging world from past financial development is that there are risks …

Persistent link: https://www.econbiz.de/10010286191

Measuring co-movements of CDS premia during the Greek debt crisis

Andenmatten, Sergio; Brill, Felix - 2011

In this paper we test whether the co-movement of sovereign CDS premia increased significantly after the Greek debt crisis started in October 2009. We perform a bivariate test for contagion that is based on an approach proposed by Forbes and Rigobon (2002). Our sample consists of daily data...

Persistent link: https://www.econbiz.de/10010316042

International determinants of comprehensive income reporting by groups: An analytical and comparative study of Poland and Germany

Kwaśny, Jakub; Sajnóg, Artur - In: Comparative Economic Research. Central and Eastern Europe 25 (2022) 2, pp. 163-185

The mainstream theoretical and empirical research presented in the study is a comparative analysis of comprehensive income reporting by groups listed in the Polish and German capital markets. The theoretical part of the article is dedicated to a scientific discussion on the determinants of the...

Persistent link: https://www.econbiz.de/10014516402

Sovereign Wealth Funds: Size, economic effects and policy reactions

Jost, Thomas - 2009

The emergence of Sovereign Wealth Funds (SWFs) and some spectacular investments of these funds in recent years have caused widespread attention on international financial markets. Most SWFs are domiciled in Arabian countries, East Asia and Russia. Their low transparency led to concerns that SWFs...

Persistent link: https://www.econbiz.de/10010308362

On the Static Efficiency of Secondary Bond Markets

Oxelheim, Lars; Rafferty, Michael - 2004

The major strand of finance literature understands market efficiency through the market's ability to process information into prices. Another strand of literature refers to the economists' usual sense of the word, i.e. that markets ensure that resources are allocated to their most profitable...

Persistent link: https://www.econbiz.de/10010320028

Global shocks and green bonds issuance: An empirical evidence from firm-level panel data

Azhgaliyeva, Dina; Kapsalyamova, Zhanna - 2024

This paper investigates the determinants of corporate green bond issuance using annual firm-level data for 300 issuers of green bonds, which issued green bonds over the period 2017-2021. Using the Poisson fixed-effects models we find that bond-specific characteristics, such as maturity, coupon...

Persistent link: https://www.econbiz.de/10015051829

Insurance Sector Risk

Slijkerman, Jan Frederik - 2006

We model and measure simultaneous large losses of the market value of insurers to understand the impact of shocks on the insurance sector. The downside risk of insurers is explicitly modelled by common and idiosyncratic risk factors. Since reinsurance is important for the capacity of insurers,...

Persistent link: https://www.econbiz.de/10010325267

Routes to Equity Market Integration - The Interplay between Politicians, Investors and Managers

Oxelheim, Lars - 2000

Most econometric studies of equity market integration suggest that national markets are increasingly becoming part of a global equity market. As regards the extent of this integration, however, the results are often inconclusive. Further analysis calls for a closer scrutiny of the basic...

Persistent link: https://www.econbiz.de/10010334944