Outputs (47)

Institutional cross-ownership and corporate strategy: The case of mergers and acquisitions (2017)
Journal Article
Brooks, C., Chen, Z., & Zeng, Y. (2018). Institutional cross-ownership and corporate strategy: The case of mergers and acquisitions. Journal of Corporate Finance, 48, 187-216. https://doi.org/10.1016/j.jcorpfin.2017.11.003

This article provides new evidence on the important role of institutional investors in affecting corporate strategy. Institutional cross-ownership between two firms not only increases the probability of them merging, but also affects the outcomes of... Read More about Institutional cross-ownership and corporate strategy: The case of mergers and acquisitions.

Debt Priority Structure, Market Discipline, and Bank Conduct (2017)
Journal Article
Danisewicz, P., McGowan, D., Onali, E., & Schaeck, K. (2018). Debt Priority Structure, Market Discipline, and Bank Conduct. The Review of Financial Studies, 31(11), 4493-4555. https://doi.org/10.1093/rfs/hhx111

We examine how debt priority structure affects bank funding costs and soundness. Leveraging an unexplored natural experiment that changes the priority of claims on banks’ assets, we document asymmetric effects that are consistent with changes in moni... Read More about Debt Priority Structure, Market Discipline, and Bank Conduct.

Institutional investor monitoring motivation and the marginal value of cash (2017)
Journal Article
Ward, C., Yin, C., & Zeng, Y. (2018). Institutional investor monitoring motivation and the marginal value of cash. Journal of Corporate Finance, 48, 49-75. https://doi.org/10.1016/j.jcorpfin.2017.10.017

This paper examines whether the motivation of institutional investors in monitoring a firm is positively related to the relative importance of the firm's stock in their portfolios. We find that greater motivated monitoring institutional ownership is... Read More about Institutional investor monitoring motivation and the marginal value of cash.

Exploring International Economic Integration through Sukuk Market Connectivity: A Network Perspective (2017)
Journal Article
Asutay, M., & Hakim, A. (2018). Exploring International Economic Integration through Sukuk Market Connectivity: A Network Perspective. Research in International Business and Finance, 46, 77-94. https://doi.org/10.1016/j.ribaf.2017.10.003

This paper aims to measure the degree of international financial and economic integration through sukuk markets among the eight sukuk issuing countries for the period of 2004–2014. In empirically modelling the study, the ‘standard perfect financial i... Read More about Exploring International Economic Integration through Sukuk Market Connectivity: A Network Perspective.

The effects of intraday news flow on market liquidity, price volatility and trading activity (2017)
Journal Article
Karam, A. (2017). The effects of intraday news flow on market liquidity, price volatility and trading activity. Economics Bulletin, 37(4), 2354-2363

This paper examines how the market performs in the presence of dealers during times that predominately reflect stressful market conditions. It examines this issue on the Nasdaq around unpredictable news events, i.e. the analyst recommendation changes... Read More about The effects of intraday news flow on market liquidity, price volatility and trading activity.

Indexing Mergers and Acquisitions (2017)
Journal Article
Gang, J., Guo, M., Hu, N., & Li, X. (2018). Indexing Mergers and Acquisitions. Quantitative Finance, 18(6), 1033-1048. https://doi.org/10.1080/14697688.2017.1369145

We measure the efficiency of mergers and acquisitions by putting forward an index (the ‘M&A Index’) based on stochastic frontier analysis. The M&A Index is calculated for each takeover deal and is standardized between 0 and 1. An acquisition with a h... Read More about Indexing Mergers and Acquisitions.

Rise of the gold market in China: liberalisation and market development (2017)
Journal Article
Wang, Y., Li, X., Zhang, Z., & Zhang, Z. (2018). Rise of the gold market in China: liberalisation and market development. Journal of Chinese Economic and Business Studies, 16(1), 17-38. https://doi.org/10.1080/14765284.2017.1378853

The Chinese gold market is rapidly rising to global prominence in the recent decades. The paper reviews the history of the gold market in China and its liberalisation process amid the country’s opening to the outside world. Details of the current mar... Read More about Rise of the gold market in China: liberalisation and market development.

A Simple Proposal to Recapitalize the U.S. Banking System (2017)
Report
Dowd, K. (2017). A Simple Proposal to Recapitalize the U.S. Banking System

No Stress III: The Flaws in the Bank of England's 2016 Stress Tests (2017)
Report
Dowd, K. (2017). No Stress III: The Flaws in the Bank of England's 2016 Stress Tests. [No known commissioning body]

An Overview of China's Financial System (2017)
Journal Article
Allen, F., Qian, J. “., & Gu, X. (2017). An Overview of China's Financial System. Annual Review of Financial Economics, 9, 191-231. https://doi.org/10.1146/annurev-financial-112116-025652

We provide a review of China's financial system and consider the challenges it faces and future reforms. The formal sectors of the financial system, which include a fast-growing stock market and are dominated by a banking sector with large state-owne... Read More about An Overview of China's Financial System.