Interbank Offered Rate: Effects of the Financial Crisis on the Information Content of the Fixing

2009 ◽  
Author(s):  
Alexandre Bruno Chailloux ◽  
Vincent Brousseau ◽  
Alain C. J. Durré
Keyword(s):  
Financial Crisis ◽  
Information Content ◽  
Rate Effects

scholarly journals COVID-19 outbreak and beyond: the information content of registered short-time workers for GDP now- and forecasting

2020 ◽  
Vol 156 (1) ◽  
Author(s):  
Sylvia Kaufmann
Keyword(s):  
Financial Crisis ◽  
Information Content ◽  
Growth Dynamics ◽  
Gdp Growth ◽  
Long Run ◽  
Growth Variation ◽  
Systematic Component ◽  
Univariate Model ◽  
Short Time

Abstract The number of short-time workers from January to April 2020 is used to now- and forecast quarterly GDP growth. We purge the monthly log level series from the systematic component to extract unexpected changes or shocks to log short-time workers. These monthly shocks are included in a univariate model for quarterly GDP growth to capture timely, current-quarter unexpected changes in growth dynamics. Included shocks additionally explain 24% in GDP growth variation. The model is able to forecast quite precisely the decrease in GDP during the financial crisis. It predicts a mean decline in GDP of 5.7% over the next two quarters. Without additional growth stimulus, the GDP level forecast remains persistently 4% lower in the long run. The uncertainty is large, as the 95% highest forecast density interval includes a decrease in GDP as large as 9%. A recovery to pre-crisis GDP level in 2021 lies only in the upper tail of the 95% highest forecast density interval.

scholarly journals The Exchange Rate Effects of Macro News after the Global Financial Crisis

2017 ◽  
Vol 2017 (305) ◽  
Author(s):  
Yin-Wong Cheung ◽  
◽  
Rasmus Fatum ◽  
Yohei Yamamoto ◽  
◽  
...  
Keyword(s):  
Exchange Rate ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Rate Effects ◽  
Macro News ◽  
The Exchange Rate ◽  
The Global Financial Crisis

The information content of discretionary accruals during systemic crises

2020 ◽  
Vol 21 (3) ◽  
pp. 455-476
Author(s):  
Nicola Moscariello ◽  
Pietro Fera ◽  
Ettore Cinque
Keyword(s):  
Financial Crisis ◽  
Information Asymmetry ◽  
Information Content ◽  
Global Financial Crisis ◽  
Discretionary Accruals ◽  
Small Sample ◽  
Exogenous Shock ◽  
Content Type ◽  
Bid Ask Spread ◽  
The Relationship

PurposeBy analyzing the relationship between discretionary accruals and information asymmetry throughout the latest global financial crisis, this paper deepens our understanding of the effect of managerial discretion on the informativeness of earnings in the case of a negative exogenous shock in business fundamentals.Design/methodology/approachThis paper examines the relationship between discretionary accruals and the bid–ask spread within the Italian Stock Exchange over the period of 2007–2012. The authors focus on one country in order to avoid systematic cross-country performance variation in discretionary accruals models, and they use the bid–ask spread as a proxy for information asymmetry.FindingsThis paper shows the role played by discretionary accruals in unblocking private information in the case of a negative exogenous shock in business fundamentals and finds a significant negative relationship between discretionary accruals and the bid–ask spread during the global financial crisis, although only limited to firms with strong corporate governance.Research limitations/implicationsSince the paper focuses on one country, the findings might not be necessarily generalizable. Moreover, the relatively small sample size could be another limitation.Practical implicationsThis paper offers useful evidence to identify settings in which discretionary accruals increase the informativeness of earnings. Further, it suggests controlling for macroeconomic variables to mitigate the risk of an erroneous interpretation of discretionary accruals models.Originality/valueThis paper extends knowledge and collects new evidence on the information content of discretionary accruals by investigating the relationship between discretionary accruals and information asymmetry during a systemic crisis.

Information Content, Auditorss Trust and Financial Crisis: Criticism Finds Evidence

2014 ◽  
Author(s):  
Khurram Shahzad ◽  
Thierry Pouw ◽  
Ghulame Rubbaniy ◽  
Osama El-Temtamy
Keyword(s):  
Financial Crisis ◽  
Information Content

scholarly journals Can Analysts Really Forecast? Evidence from the Karachi Stock Exchange

2014 ◽  
Vol 19 (1) ◽  
pp. 91-109
Author(s):  
Haris Bin Jamil ◽  
Aisha Ghazi Aurakzai ◽  
Muhammad Subayyal
Keyword(s):  
Financial Crisis ◽  
Information Content ◽  
Stock Prices ◽  
Global Financial Crisis ◽  
Stock Exchange ◽  
Abnormal Returns ◽  
Market Model ◽  
Price Pressure ◽  
The Impact

This study examines the impact of analysts’ recommendations on stock prices listed on the Karachi Stock Exchange for the period 2006–12. The recommendations are extracted from the daily Morning Shout report published by Khadim Ali Shah Bukhari Securities Ltd (KASB), which provides buy and sell recommendations for different stocks. We use the market model to estimate the abnormal returns around the recommendation dates for these securities. The study also investigates whether the abnormal returns are due to price pressure or information content. We find that investors earn abnormal returns on the basis of analysts’ recommendations for these securities. The results are robust in considering only the sub-sample subsequent to 2008’s global financial crisis, and are also consistent with the information content hypothesis and price pressure hypothesis.

Applications of Scanning Microscopy in Biomedical Research

1968 ◽  
Vol 26 ◽  
pp. 354-355
Author(s):  
T. L. Hayes
Keyword(s):  
Information Content ◽  
Biomedical Research ◽  
Biomedical Applications ◽  
Three Dimensional ◽  
Dental Enamel ◽  
Resolving Power ◽  
Whole Mount ◽  
Two Parameters ◽  
Content Information ◽  
Sectioned Tissue

Biomedical applications of the scanning electron microscope (SEM) have increased in number quite rapidly over the last several years. Studies have been made of cells, whole mount tissue, sectioned tissue, particles, human chromosomes, microorganisms, dental enamel and skeletal material. Many of the advantages of using this instrument for such investigations come from its ability to produce images that are high in information content. Information about the chemical make-up of the specimen, its electrical properties and its three dimensional architecture all may be represented in such images. Since the biological system is distinctive in its chemistry and often spatially scaled to the resolving power of the SEM, these images are particularly useful in biomedical research.In any form of microscopy there are two parameters that together determine the usefulness of the image. One parameter is the size of the volume being studied or resolving power of the instrument and the other is the amount of information about this volume that is displayed in the image. Both parameters are important in describing the performance of a microscope. The light microscope image, for example, is rich in information content (chemical, spatial, living specimen, etc.) but is very limited in resolving power.

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