Outputs (61)

Central Bank digital currencies: An Agenda for future research (2022)
Journal Article
Elsayed, A. H., & Ali Nasir, M. (2022). Central Bank digital currencies: An Agenda for future research. Research in International Business and Finance, 62, Article 101736. https://doi.org/10.1016/j.ribaf.2022.101736

Central bank digital currencies are engendering concern. As understanding of CBDCs is very limited, further research is warranted which will focus not only on the economic rationale of CBDCs but also on how they will impact monetary policy transmissi... Read More about Central Bank digital currencies: An Agenda for future research.

The dark side of liquidity regulation: Bank opacity and funding liquidity risk (2022)
Journal Article
Raz, A. F., McGowan, D., & Zhao, T. (2022). The dark side of liquidity regulation: Bank opacity and funding liquidity risk. Journal of Financial Intermediation, 52, Article 100990. https://doi.org/10.1016/j.jfi.2022.100990

We evaluate how the liquidity coverage rule affects US banks’ opacity and funding liquidity risk. Banks subject to the rule become significantly more opaque and funding liquidity risk increases by $245 million per quarter. Higher funding liquidity ri... Read More about The dark side of liquidity regulation: Bank opacity and funding liquidity risk.

Does Terrorism Affect Acquisitions? (2022)
Journal Article
Nguyen, T., Petmezas, D., & Karampatsas, N. (2023). Does Terrorism Affect Acquisitions?. Management Science, 69(7), 4134-4168. https://doi.org/10.1287/mnsc.2022.4506

Using terrorist attacks as an exogenous shock to uncertainty, we provide evidence that firms located near terrorism-stricken areas are less likely takeover targets for two years after the attack and receive lower acquisition premiums. The latter find... Read More about Does Terrorism Affect Acquisitions?.

Cross-Market Herding: Do ‘Herds’ Herd with Each Other? (2022)
Journal Article
Ferreruela, S., Kallinterakis, V., & Mallor, T. (2024). Cross-Market Herding: Do ‘Herds’ Herd with Each Other?. Journal of Behavioral Finance, 25(2), 208-228. https://doi.org/10.1080/15427560.2022.2100383

Although herding constitutes one of the most widely researched behavioral trading patterns internationally, the possibility of cross-market herding has remained largely underexplored in the literature. Our study provides a detailed empirical investig... Read More about Cross-Market Herding: Do ‘Herds’ Herd with Each Other?.

To Securitize or to Price Credit Risk? (2022)
Journal Article
McGowan, D., & Nguyen, H. (2023). To Securitize or to Price Credit Risk?. Journal of Financial and Quantitative Analysis, 58(1), 289-323. https://doi.org/10.1017/s0022109022000552

Do lenders securitize or price loans in response to credit risk? Exploiting exogenous variation in regional credit risk due to foreclosure law differences along U.S. state borders, we find that lenders securitize mortgages that are eligible for sale... Read More about To Securitize or to Price Credit Risk?.

The Digital Credit Divide: Marketplace Lending and Entrepreneurship (2022)
Journal Article
Cumming, D., Farag, H., Johan, S., & McGowan, D. (2022). The Digital Credit Divide: Marketplace Lending and Entrepreneurship. Journal of Financial and Quantitative Analysis, 57(7), 2659-2692. https://doi.org/10.1017/s0022109022000357

We conjecture that marketplace lending provokes an increase in the quantity of entrepreneurship, particularly in more regionally disadvantaged areas, albeit at lower average quality. Using a fuzzy regression discontinuity design that exploits exogeno... Read More about The Digital Credit Divide: Marketplace Lending and Entrepreneurship.

The Fed and the Stock Market: A Tale of Sentiment States (2022)
Journal Article
Guo, H., Hung, C.-H. D., & Kontonikas, A. (2022). The Fed and the Stock Market: A Tale of Sentiment States. Journal of International Money and Finance, 128, Article 102707. https://doi.org/10.1016/j.jimonfin.2022.102707

We analyze the period before the zero lower bound and show that the state of investor sentiment strongly affects the transmission of monetary policy to the stock market. The impact of Federal funds rate (FFR) surprises is mostly potent when sentiment... Read More about The Fed and the Stock Market: A Tale of Sentiment States.

The Eumaeus Guide to Equity Release Valuation: Restating the Case for a Market Consistent Approach (2022)
Book
Buckner, D., & Dowd, K. (2022). The Eumaeus Guide to Equity Release Valuation: Restating the Case for a Market Consistent Approach. (2nd ed.). KSP Books

Can UK Banks Pass the Covid-19 Stress Test? (2022)
Book
Buckner, D., & Dowd, K. (2022). Can UK Banks Pass the Covid-19 Stress Test?. KSP Books

What Drives Individual Investors in the Bear Market? (2022)
Journal Article
Xu, R., Liu, Y., Hu, N., & Guo, M. (2022). What Drives Individual Investors in the Bear Market?. The British Accounting Review, 54(6), Article 101113. https://doi.org/10.1016/j.bar.2022.101113

This study uses a unique dataset from a large anonymous brokerage firm to examine the net investment of individual investors during a bear market. The study’s empirical evidence reveals that individual investors provide liquidity by acting as net buy... Read More about What Drives Individual Investors in the Bear Market?.