The purpose of this dissertation thesis is to investigate how changes in the institutional setting have affected the payout policy of German firms. This dissertation thesis further contributes to the literature on event study methodology by analyzing the measurment of abnormal credit default...

Stress tests have been increasingly used in recent years by regulators to foster confidence in the banking sector by not only increasing its resilience via mandatory capital increases but also by enhancing transparency to allow investors to better discriminate between banks. In this study, using...