How to Stop a Herd of Running Bears? Market Response to Policy Initiatives During the Global Financial Crisis

2009 ◽  
Author(s):  
Yacine Ait-Sahalia ◽  
Jochen R. Andritzky ◽  
Andreas A. Jobst ◽  
Sylwia Barbara Nowak ◽  
Natalia T. Tamirisa
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Market Response ◽  
Policy Initiatives ◽  
The Global Financial Crisis

How to Stop a Herd of Running Bears? Market Response to Policy Initiatives During the Global Financial Crisis

2009 ◽  
Author(s):  
Jochen R. Andritzky ◽  
Andreas A. Jobst ◽  
Sylwia Barbara Nowak ◽  
Yacine Ait-Sahalia ◽  
Natalia T. Tamirisa
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Market Response ◽  
Policy Initiatives ◽  
The Global Financial Crisis

scholarly journals Market Response to Policy Initiatives during the Global Financial Crisis

2010 ◽  
Author(s):  
Yacine Aït-Sahalia ◽  
Jochen Andritzky ◽  
Andreas Jobst ◽  
Sylwia Nowak ◽  
Natalia Tamirisa
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Market Response ◽  
Policy Initiatives ◽  
The Global Financial Crisis

Market response to policy initiatives during the global financial crisis

2012 ◽  
Vol 87 (1) ◽  
pp. 162-177 ◽  
Author(s):  
Yacine Aït-Sahalia ◽  
Jochen Andritzky ◽  
Andreas Jobst ◽  
Sylwia Nowak ◽  
Natalia Tamirisa
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Market Response ◽  
Policy Initiatives ◽  
The Global Financial Crisis

Has the Global Financial Crisis Changed the Market Response to Credit Ratings? Evidence from an Emerging Market

2019 ◽  
Vol 19 (1) ◽  
pp. 7-32
Author(s):  
Kaveri Krishnan ◽  
Sankarshan Basu ◽  
Ashok Thampy
Keyword(s):  
Financial Crisis ◽  
Stock Price ◽  
Credit Rating ◽  
Global Financial Crisis ◽  
Emerging Market ◽  
Abnormal Returns ◽  
Market Response ◽  
Stock Price Reaction ◽  
The Difference ◽  
The Global Financial Crisis

This article analyses the differential market response to credit rating revisions in the pre- and post-global financial crisis (GFC) period using data from India. By reviewing the stock price reaction to the announcement of long-term rating changes during the period 1996–2015, the study finds evidence that the stock price reacted less to rating announcements after the GFC of 2008. However, the difference in the cumulative abnormal returns before the GFC and after the GFC is not statistically significant. JEL codes: G240, G010, G140

Has Financial Crisis Affected the Announcement Gains of Indian Cross-border Acquisitions?

2017 ◽  
Vol 6 (1) ◽  
pp. 55-66 ◽  
Author(s):  
Neelam Rani ◽  
Aman Asija
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Emerging Market ◽  
Abnormal Returns ◽  
Market Response ◽  
Event Window ◽  
Crisis Period ◽  
Emerging Market Multinationals ◽  
Cross Border ◽  
The Global Financial Crisis

The failure of an unparalleled large number of financial institutions during the global financial crisis of 2007–2008 resulted in a freeze of global credit markets. The financial crisis has affected the capital markets around the world. In contrast, the global financial crisis has facilitated the strategic asset-seeking ambitions of emerging market multinationals. The objective of the present article is to examine the market response to cross-border acquisition by Indian companies during 2003– 2015 by conducting event study. We have also compared the acquisition gains before and after the financial crisis. The acquisition gains for the event window (–1, 1) are 2.06 per cent for the entire period 2003–2015 for a sample of 430 announcements. Two-thirds of the acquisitions experienced positive abnormal returns. The abnormal returns are positive and significant for the entire event window of 41 days. The empirical findings also suggest that the CAAR on the event day for pre-crisis period is 4.28 per cent compared to CAAR of 1.70 per cent during post-crisis period. Results are statistically significant. It is evident that market response has muted after the financial crisis.

scholarly journals SME ACCESS TO FINANCE AND THE GLOBAL FINANCIAL CRISIS

2020 ◽  
Vol 08 (01) ◽  
pp. 2040003
Author(s):  
GREGORY F. UDELL
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Credit Crunch ◽  
Access To Finance ◽  
Policy Initiatives ◽  
The Us ◽  
Key Policy ◽  
The Global Financial Crisis ◽  
The Impact ◽  
The Empirical Analysis

This paper offers an overview of research on SME access to finance during the Global Financial Crisis (GFC) in order to cull key things that we have learned. It discusses selected articles that peg the frontier of knowledge on this topic in both European and American contexts. It highlights differences between these two areas in terms of how the crisis unfolded. It also identifies key differences in the availability of data between Europe and the US that shape the nature of the empirical analysis of the attendant credit crunch. Selected research on both the nature and magnitude of the impact of the credit crunch on the SME sector are discussed. Research on some key policy initiatives to mitigate the crisis’ damage in Europe and in the US are also discussed. The paper concludes with some comments on how research on the GFC might inform research on SME access to finance during the unfolding COVID-19 crisis.

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