Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis.
Title:
Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis.
Author:
Fund, International Monetary.
ISBN:
9781475525458
Personal Author:
Physical Description:
1 online resource (23 pages)
Series:
IMF Working Papers
Contents:
Cover -- Contents -- I. Bank Equity Performance during the Recent Crisis -- II. Literature Review -- III. Data and Variable Definitions -- IV. What Explains Equity Returns in the Banking Sector? -- V. Do Bank Characteristics Matter for Explaining Equity Returns? -- VI. Conclusions -- References -- Tables -- 1. Banks' Equity Returns: Model Specifications -- 2. Banks' Equity Returns: Different Sample Periods -- 3. Banks' Equity Returns: United Kingdom, United States, and Japan -- 4. Banks' Equity Returns: Euro Area Countries -- 5. Banks' Equity Returns and Bank Characteristics -- 6. Banks' Equity Returns and Standard Vulnerability Indicators -- Figures -- 1. U.S. and European Banks Price Indices -- 2. European Banking Sector Indices, January 2006=100 -- 3. Excess Equity Returns in the Banking Sector -- 4. Sovereign Risk vs. PMI, monthly changes -- Appendix: I. List of Banks.
Abstract:
This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment. While the equity return performance in the banking sector has been dismal in general, better capitalized and less leveraged banks have outperformed their peers, a finding that supports policymakers' efforts to strengthen bank capitalization.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Genre:
Electronic Access:
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