LEADER 03319nam 2200613Ia 450 001 9910461964103321 005 20200520144314.0 010 $a1-4755-7793-1 010 $a1-4755-2545-1 035 $a(CKB)2670000000278805 035 $a(EBL)1606831 035 $a(SSID)ssj0000952180 035 $a(PQKBManifestationID)11519571 035 $a(PQKBTitleCode)TC0000952180 035 $a(PQKBWorkID)10902863 035 $a(PQKB)10874992 035 $a(MiAaPQ)EBC1606831 035 $a(Au-PeEL)EBL1606831 035 $a(CaPaEBR)ebr10627026 035 $a(OCoLC)867109951 035 $a(EXLCZ)992670000000278805 100 $a20111102d2012 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aEquity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis$b[electronic resource] /$fJorge A. Chan-Lau, Estelle X. Liu, and Jochen M. Schmittmann 210 $aWashington, DC $cInternational Monetary Fund$d2012 215 $a1 online resource (23 p.) 225 0 $aIMF working paper ;$v12/174 300 $aDescription based upon print version of record. 311 $a1-4755-5366-8 311 $a1-4755-0522-1 320 $aIncludes bibliographical references. 327 $aCover; 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 Japan 327 $a4. 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 Banks 330 $aThis study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment. While the equity return performance in the banking sector has been dismal in general, better capitalized and less leveraged banks have outperformed their peers, a finding that supports policymakers' efforts to strengthen bank capitalization. 410 0$aIMF Working Papers 606 $aCapital market 606 $aInvestments 608 $aElectronic books. 615 0$aCapital market. 615 0$aInvestments. 700 $aChan-Lau$b Jorge A$0857600 701 $aLiu$b Estelle X$0956167 701 $aSchmittmann$b Jochen M$0956166 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910461964103321 996 $aEquity returns in the banking sector in the wake of the great recession and the European sovereign debt crisis$92164407 997 $aUNINA