银行对瑞典对外银行的倒闭有何反应?

IF 2.9 3区 经济学 Q2 BUSINESS, FINANCE
Anis Samet , Kimberly C. Gleason , Feras M. Salama , Xi Ye
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引用次数: 0

摘要

这项研究首次全面调查了瑞典银行崩溃对35个国家528只银行个股的股市影响。使用事件研究方法,我们发现银行在SVB崩溃期间的弹性与其资本充足率和流动性错综复杂地联系在一起。具体而言,在控制银行层面和国家层面变量的同时,表现出较高资本充足率和更大流动性的银行在SVB崩溃期间减轻了损失。此外,我们发现新兴市场银行在宣布破产后的股价跌幅明显低于发达国家的银行,这表明新兴市场银行对危机的抵御能力更高。本研究进一步了解了资本充足率和流动性在塑造银行抵御银行业危机(如瑞典对外银行崩溃)的韧性方面的重要性,并为政策制定者寻求制定旨在降低银行对外部冲击脆弱性的政策提供了启示。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
How did banks react to SVB collapse?
This study is the first to comprehensively investigates the stock market repercussions of the SVB collapse for a sample of 528 individual bank stocks across 35 countries. Using event-study methodology, we find that the resilience of banks during the SVB collapse is intricately linked to their capital adequacy and liquidity. Specifically, banks exhibiting higher capital adequacy and greater liquidity mitigate losses during the SVB collapse, while controlling for bank-level and country-level variables. Further, we find that emerging markets banks exhibited significantly lower stock price declines upon announcement of the SVB failure than their counterparts in developed countries, indicating higher resilience to crisis for banks in emerging markets. This study offers a further understanding of the importance of capital adequacy and liquidity in shaping banks’ resilience to banking sector crises, such as the SVB collapse, and provides implications for policymakers seeking to enact policies designed to reduce bank vulnerability to external shocks.
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来源期刊
CiteScore
7.30
自引率
4.80%
发文量
25
审稿时长
30 days
期刊介绍: International trade, financing and investments have grown at an extremely rapid pace in recent years, and the operations of corporations have become increasingly multinationalized. Corporate executives buying and selling goods and services, and making financing and investment decisions across national boundaries, have developed policies and procedures for managing cash flows denominated in foreign currencies. These policies and procedures, and the related managerial actions of executives, change as new relevant information becomes available. The purpose of the Journal of Multinational Financial Management is to publish rigorous, original articles dealing with the management of the multinational enterprise. Theoretical, conceptual, and empirical papers providing meaningful insights into the subject areas will be considered. The following topic areas, although not exhaustive, are representative of the coverage in this Journal. • Foreign exchange risk management • International capital budgeting • Forecasting exchange rates • Foreign direct investment • Hedging strategies • Cost of capital • Managing transaction exposure • Political risk assessment • International working capital management • International financial planning • International tax management • International diversification • Transfer pricing strategies • International liability management • International mergers.
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