06015oam 22013814 450 991078648000332120230801225354.01-4755-7793-11-4755-2545-1(CKB)2670000000278805(EBL)1606831(SSID)ssj0000952180(PQKBManifestationID)11519571(PQKBTitleCode)TC0000952180(PQKBWorkID)10902863(PQKB)10874992(MiAaPQ)EBC1606831(Au-PeEL)EBL1606831(CaPaEBR)ebr10627026(OCoLC)867109951(IMF)WPIEE2012174(IMF)WPIEA2012174(EXLCZ)99267000000027880520020129d2012 uf 0engur|n|---|||||txtccrEquity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis /Jorge Chan-Lau, Estelle Liu, Jochen M. SchmittmannWashington, D.C. :International Monetary Fund,2012.1 online resource (23 p.)IMF Working PapersDescription based upon print version of record.1-4755-5366-8 1-4755-0522-1 Includes bibliographical references.Cover; Contents; I. Bank Equity Performance during the Recent Crisis; Figures; 1. U.S. and European Banks Price Indices; 2. European Banking Sector Indices, January 2006=100; II. Literature Review; III. Data and Variable Definitions; 3. Excess Equity Returns in the Banking Sector; 4. Sovereign Risk vs. PMI, monthly changes; IV. What Explains Equity Returns in the Banking Sector?; Tables; 1. Banks' Equity Returns: Model Specifications; 2. Banks' Equity Returns: Different Sample Periods; 3. Banks' Equity Returns: United Kingdom, United States, and Japan4. Banks' Equity Returns: Euro Area CountriesV. Do Bank Characteristics Matter for Explaining Equity Returns?; 5. Banks' Equity Returns and Bank Characteristics; 6. Banks' Equity Returns and Standard Vulnerability Indicators; VI. Conclusions; References; Appendix: I. List of BanksThis 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.IMF Working Papers; Working Paper ;No. 2012/174Capital marketInvestmentsBanks and BankingimfFinancial Risk ManagementimfInvestments: StocksimfFinancial CrisesimfInformation and Market EfficiencyimfEvent StudiesimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfPension FundsimfNon-bank Financial InstitutionsimfFinancial InstrumentsimfInstitutional InvestorsimfFinancial Institutions and Services: Government Policy and RegulationimfInterest Rates: Determination, Term Structure, and EffectsimfBankingimfEconomic & financial crises & disastersimfInvestment & securitiesimfFinancial services law & regulationimfFinanceimfFinancial crisesimfStocksimfCapital adequacy requirementsimfYield curveimfFinancial institutionsimfFinancial regulation and supervisionimfFinancial servicesimfCommercial banksimfBanks and bankingimfAsset requirementsimfInterest ratesimfUnited StatesimfCapital market.Investments.Banks and BankingFinancial Risk ManagementInvestments: StocksFinancial CrisesInformation and Market EfficiencyEvent StudiesBanksDepository InstitutionsMicro Finance InstitutionsMortgagesPension FundsNon-bank Financial InstitutionsFinancial InstrumentsInstitutional InvestorsFinancial Institutions and Services: Government Policy and RegulationInterest Rates: Determination, Term Structure, and EffectsBankingEconomic & financial crises & disastersInvestment & securitiesFinancial services law & regulationFinanceFinancial crisesStocksCapital adequacy requirementsYield curveFinancial institutionsFinancial regulation and supervisionFinancial servicesCommercial banksBanks and bankingAsset requirementsInterest ratesChan-Lau Jorge1462089Liu Estelle1578617Schmittmann Jochen M956166DcWaIMFBOOK9910786480003321Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis3858187UNINA