Search Results - subject_exact:"Ankündigungseffekt"

The wealth effects of the abuse of dominance enforcement

Ocepek, France - 2026

The article investigates the welfare impacts of abuse of dominance enforcement proxied by the stock price evaluations. The European Commission reformed the competition policy at the turn of the new century; however, the reform efforts were more reserved and cautious regarding Article 102 TFEU...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015654684

Transparency and the visibility of misconduct : evidence from esg disclosure mandates

Akyildirim, Erdinc; Gozgor, Giray; Ho, Thang; Wagner, … - 2026 - This version: February 16, 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015609790

Stock market reactions to COP26 and climate change exposures of indian firms

Bhaduri, Saumitra; Selarka, Ekta; Aggrwal, Alankrti - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015610978

Coarse categories in a complex world

Graeber, Thomas; Roth, Christopher; Sammon, Marco - 2026

Most news stories contain both granular quantitative information and coarse categorizations. For instance, company earnings are reported as a dollar figure alongside categorizations, such as whether earnings beat or missed market expectations. We formalize and study the hypothesis that when a...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015614363

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Coarse categories in a complex world

Graeber, Thomas; Roth, Christopher; Sammon, Marco - 2025

Book / Working Paper

Heterogeneous effects of monetary policy surprises on bond fund flows

Blanco, Sébastien; Koomen, Miriam; Yeşin, Pınar - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015615519

Short selling around news in international stock markets

Gorbenko, Arseny - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015616369

Tension in financial reporting : reacting to a peer bankruptcy announcement

Delshadi, Mahmoud; Hammami, Ahmad; Magnan, Michel - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015597293

Sanctions, reputational losses and salience

Berkowitz, Daniel M.; Lezama, Guillermo; Nackle, Claire - 2026

Can government agencies in sanctioning countries deter their companies from violating laws that limit business transactions with sanctioned countries? To understand this issue, we study the Office of Foreign Assets Control (OFAC), which is the primary enforcer of sanctions in the United States....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015590023

Higher-order forward guidance

Dordal i Carreras, Marc; Lee, Seung Joo - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015578338

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Higher-order forward guidance

Dordal i Carreras, Marc; Lee, Seung Joo - 2025

Book / Working Paper

Multiple monetary policy shocks from daily data : a heteroskedasticity IV approach

Burri, Marc; Kaufmann, Daniel - 2026

We extend the heteroskedasticity IV estimator of Rigobon and Sack (2004) from one to multiple monetary policy shocks by imposing recursive zero restrictions on the impact matrix. Unlike high-frequency identification, the approach requires neither intraday tick data nor precise announcement...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015625606

The influence of social media emotions : evidence from the Kodak manic episode

Cioroianu, Iulia; Conlon, Thomas; Corbet, Shaen; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626617

Generative AI and investor processing of financial media

Cho, Tony; Huang, Allen; Pacelli, Joseph; Rennekamp, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015638792

The stock market effects of the 2022 Russia sanctions : evidence from the US and the EU

Leusen, Matthijs; Garretsen, Harry; Giumelli, Francesco; … - 2026

We examine how Western sanctions imposed in response to Russia's 2022 invasion of Ukraine shaped firm-level stock market performance in the EU and the US. To measure sanction exposure, we link firms to the specific products targeted by US and EU sanctions at the HS6 level, producing a detailed,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015639124

Do uncertainty and action shocks affect G7 stock market synchronisation? : DCC-GARCH evidence from the 2024 U.S. election and the reciprocal tariffs announcement

Czech, Katarzyna; Wielechowski, Michał - 2026

Exogenous shocks can affect equity markets by changing volatility and cross-market co-movement. This study examines how two U.S.-centred events, treated as different shock types, influence time-varying conditional correlations between the U.S. stock market and other G7 markets. The uncertainty...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015639142

The real estate channel of unconventional monetary policy

Honda, Tomohito; Shimizu, Chihiro; Uesugi, Iichiro - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641478

Warning signal and broker’s misconduct in financial markets

Tedde, Mariachiara - 2026 - Prima edizione

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641816

How do monetary policy and inflation announcements affect firm expectations in high inflation?

Akarsu, Okan; Aktuğ, Emrehan - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641895

Online search activity and market reaction to earnings announcements

Ahluwalia, Saurabh - 2026

This paper leverages Google Trends search volume data from 2004 to 2008 as a proxy for investor information demand. The analysis documents that greater search activity prior to earnings announcements is positively associated with future market reaction to earnings announcements, pre-earnings...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015643095

Even the Announcement Matters? The Effect of the Carbon Border Adjustment Mechanism on Exporter Behavior

Aytun, Uğur; Berg, Gunhild; Cilasun, Seyit Mümin; … - 2026

This paper studies how firms respond to the announcement of the European Union’s Carbon Border Adjustment Mechanism (CBAM), focusing on Turkish manufacturing firms with substantial exposure to the EU market. Exploiting variation in firms’ pre-announcement exposure to CBAM-covered exports,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015655983

The many facets of stock momentum : distinguishing factor and stock components

Gérard, Xavier; Jehl, Laura - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015647136

Stock market reactions to Donald Trump-involved U.S. presidential elections : evidence from the S&P 500 in 2016, 2020, and 2024

Wielechowski, Michał; Czech, Katarzyna; Weremczuk, … - 2026

This study assesses the impact of U.S. presidential elections on stock market behaviour, focusing on the 2016, 2020, and 2024 elections, in which Donald Trump was a candidate. Using an event-study framework, we analyse changes in S&P 500 volatility and returns by comparing a 10-day election...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015647491

With a grain of salt : investor reactions to uncertain news and (non)disclosure

Libgober, Jonathan; Michaeli, Beatrice; Wiedman, Elyashiv - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015651761

Sensitivity of the Euro OIS term structure to ECB policy rate surprises

Herzel, Stefano; Nicolosi, Marco - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015633391

Global material sector reactions to Trump's tariff postponement : multi-country evidence from an event study

Irianto, Ellen D. Oktanti; Aini, Rohana Nur; Kesuma, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015633994

Harvesting differences-in-differences and event-study evidence

Abadie, Alberto; Angrist, Joshua D.; Frandsen, Brigham; … - 2026

This paper by Blueprint Director Joshua Angrist, Alberto Abadie, Brigham Frandsen, and Jörn-Steffen Pischke surveys econometric innovations related to differences-in-differences estimators and to event-study models with time-varying treatment effects. The researchers discussion highlights...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015573615

Market dynamics and critical responses of leading European banks to ECB's expansionary policies

Petrakis, Nikolaos; Lemonakis, Christos; Floros, Christos; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015574372

Federal Reserve rhetoric and GCC equity market returns : insights from NLP, sentiment analysis and event studies

Ben Dob, Ali; Benlamine, Mokhtar - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668988

Do spin-offs signal an effective restructuring strategy to shareholders? : A global study on the short- and long-term performance of parent companies

Batrancea, Larissa M.; Nichita, Anca; Ikeda, Wilson Eduardo - 2026

This large-scale study explores the use of spin-offs as a strategy for corporate restructuring and the determinants of short- and long-term performance of parent companies after the announcement of a spin-off. We analyze data on hundreds of companies in 47 countries, comprising 921 parent...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668538

Learning monetary policy strategies at the effective lower bound with sudden surprises

Krane, Spencer David; Melosi, Leonardo; Rottner, Matthias - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668273

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Learning monetary policy strategies at the effective lower bound with sudden surprises

Krane, Spencer David; Melosi, Leonardo; Rottner, Matthias - 2023

Book / Working Paper

Learning monetary policy strategies at the effective lower bound with sudden surprises

Krane, Spencer David; Melosi, Leonardo; Rottner, Matthias - 2023

Book / Working Paper

Bond yield responses to macro news : the role of macro forecast disagreement and monetary policy uncertainty

Hördahl, Peter; Kısacıkoğlu, Burçin; Xia, Fan Dora - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668409

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Bond yield responses to macro news : the role of macro forecast disagreement and monetary policy uncertainty

Hördahl, Peter; Kısacıkoğlu, Burçin; Xia, Fan Dora - 2026

Book / Working Paper

The response of equity yields to a long-run shock

Boons, Martijn; Diercks, Anthony M.; Sinagl, Petra; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668549

Identification of expectational shocks in the oil market using OPEC announcements

Degasperi, Riccardo - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668053

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Identification of expectational shocks in the oil market using opec announcements

Degasperi, Riccardo - 2023

Book / Working Paper

How can a firm suppress shareholders' punitive reaction to its disengagement from a geopolitically uncertain market?

Astvansh, Vivek; Eshghi, Kamran; Shahriari, Hesam; Shi, Wei - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015670267

The cost of inattention : deadline and media effects on implicit taxes

Eichfelder, Sebastian; Hundsdoerfer, Jochen; … - 2026

We provide evidence that the capitalization of taxes in share prices depends on investor attention and can create additional implicit taxes for inattentive investors. Interpreting a German capital gains tax reform as a natural experiment, we identify investor attention by the temporal distance...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015638602

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The cost of inattention : deadline and media effects on implicit taxes

Eichfelder, Sebastian; Hundsdoerfer, Jochen; … - 2025

Book / Working Paper

Anchoring bias and cross- border acquisition premia

Barbopoulos, Leonidas G.; Danbolt, Jo - 2026 - This version: June 18, 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015675310

Green bond market development and stock market reactions in Asia : a descriptive and event-study analysis

Elam, Latansa Izzata Dien; Nardon, Martina - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015670809

The stock market effects of Islamist versus non-Islamist terror

Jin, Gan; Karim, Md Rafiul; Schulze, Günther G. - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015672287

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The stock market effects of Islamist versus non-Islamist terror

Jin, Gan; Karim, Md Rafiul; Schulze, Günther G. - 2024

Book / Working Paper

Was the 2025 DAX crash endogenous? : evidence from the Log-Periodic Power Law Model

Zitis, Pavlos I.; Potirakis, Stelios M. - 2026

In this article, we investigate whether the crash of the German DAX index following the U.S. tariff announcement in April 2025 is consistent with pre-existing endogenous market fragility rather than a purely exogenous shock. The analysis is conducted within the Log-Periodic Power Law (LPPL)...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016059378

Interest rate surprises when the Fed doesn't speak

Miranda-Agrippino, Silvia; Williams, John C. - 2026

The predictability of monetary policy surprises based on past, public information has been interpreted in two related yet fundamentally different ways. The "Fed information effect" posits that it arises due to markets updating their view of the economy, based on signals implicitly revealed by...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015604652

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Interest rate surprises when the Fed doesn't speak

Miranda-Agrippino, Silvia; Williams, John C. - 2026

Book / Working Paper

State-dependent value of news sentiment in S&P 500 direction forecasting

Bajgai, Prabin; Zhou, Zhaoxian - 2026

Next-day S&P 500 direction forecasting matters for allocation, hedging, and risk management because broad-index movements transmit quickly across portfolios. Does structured news sentiment help predict next-day S&P 500 direction? We test four feature sets over 2008-2023 in an ablation sequence:...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016061364

Emotion in Euro area monetary policy communication and bond yields : the Draghi era

Kanelis, Dimitrios; Siklos, Pierre L. - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016072852

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Emotion in euro area monetary policy communication and bond yields : the Draghi era

Kanelis, Dimitrios; Siklos, Pierre L. - 2025

Book / Working Paper

Emotion in euro area monetary policy communication and bond yields : the Draghi era

Kanelis, Dimitrios; Siklos, Pierre L. - 2022

Book / Working Paper

Asset ambiguity, reporting flexibility, and strategic declarations : evidence from audit announcements and a dividend tax cut

Kastoryano, Stephen - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016072281

Embracing the future : tense patterns and forward-looking central bank communication

Amati, Andrea Guerrieri D; Hassall, Gavin - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016062182

Central bank communications that reach the public

Tong, Eric; Cherry, Rennae - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016063616

Prior sentiment and returns around earnings announcements

Kazemi, H. Christopher; Makridis, Christos A. - 2026 - This draft: August 18, 2026

We develop a stylized model in which sentiment-driven demand creates a pre-announcement price wedge that is harder for arbitrageurs to offset when fundamental uncertainty is high. The model predicts that prior sentiment shifts expected post-announcement returns separately from the earnings...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016083790

Speculative trading in energy markets : evidence from macroeconomic surprises

Boucher, Simon-Pierre; Gagnon, Marie-Hélène; Power, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016064015

How do market expectations react to the FOMC dot plot?

D'Amico, Stefania; King, Thomas B.; Torralba, Francisco - 2026

The public pays close attention to Federal Reserve communications about future monetary policy, but it remains an open question how those communications shape the public's expectations for the path of policy rates. We explore how market expectations adjust to the information provided in the "dot...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016085793

On abnormal returns in events associated with equity offerings

Verdú Hernares, Manuel; Carchano Alcina, Óscar; … - 2026

Equity offerings are an option available to companies to raise capital. The aim of this paper is to study the occurrence of market anomalies in this context. Using a sample of more than 40,000 equity offerings from 25 countries, an event study has been conducted to estimate and explain abnormal...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016070497

Signals in the news : how media reputation improves stock liquidity around the world

Thi Hong Hanh Huynh; Thi Minh Hue Nguyen - 2026

We investigate the effect of firm media reputation on stock liquidity and whether national cultures and social trust affect this relation. Using a data set of firms across 40 countries over the period between 2000 and 2020, we find that firm media reputation is positively related to stock...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016088797

Disagreement at the zero lower bound : the case for forward guidance

Marinkov, Viktor - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016090897