LEADER 06015oam 22013814 450 001 9910786480003321 005 20230801225354.0 010 $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(IMF)WPIEE2012174 035 $a(IMF)WPIEA2012174 035 $a(EXLCZ)992670000000278805 100 $a20020129d2012 uf 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 /$fJorge Chan-Lau, Estelle Liu, Jochen M. Schmittmann 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (23 p.) 225 1 $aIMF Working Papers 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 3 $aThis study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment. While the equity return performance in the banking sector has been dismal in general, better capitalized and less leveraged banks have outperformed their peers, a finding that supports policymakers? efforts to strengthen bank capitalization. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2012/174 606 $aCapital market 606 $aInvestments 606 $aBanks and Banking$2imf 606 $aFinancial Risk Management$2imf 606 $aInvestments: Stocks$2imf 606 $aFinancial Crises$2imf 606 $aInformation and Market Efficiency$2imf 606 $aEvent Studies$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aPension Funds$2imf 606 $aNon-bank Financial Institutions$2imf 606 $aFinancial Instruments$2imf 606 $aInstitutional Investors$2imf 606 $aFinancial Institutions and Services: Government Policy and Regulation$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aBanking$2imf 606 $aEconomic & financial crises & disasters$2imf 606 $aInvestment & securities$2imf 606 $aFinancial services law & regulation$2imf 606 $aFinance$2imf 606 $aFinancial crises$2imf 606 $aStocks$2imf 606 $aCapital adequacy requirements$2imf 606 $aYield curve$2imf 606 $aFinancial institutions$2imf 606 $aFinancial regulation and supervision$2imf 606 $aFinancial services$2imf 606 $aCommercial banks$2imf 606 $aBanks and banking$2imf 606 $aAsset requirements$2imf 606 $aInterest rates$2imf 607 $aUnited States$2imf 615 0$aCapital market. 615 0$aInvestments. 615 7$aBanks and Banking 615 7$aFinancial Risk Management 615 7$aInvestments: Stocks 615 7$aFinancial Crises 615 7$aInformation and Market Efficiency 615 7$aEvent Studies 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aPension Funds 615 7$aNon-bank Financial Institutions 615 7$aFinancial Instruments 615 7$aInstitutional Investors 615 7$aFinancial Institutions and Services: Government Policy and Regulation 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aBanking 615 7$aEconomic & financial crises & disasters 615 7$aInvestment & securities 615 7$aFinancial services law & regulation 615 7$aFinance 615 7$aFinancial crises 615 7$aStocks 615 7$aCapital adequacy requirements 615 7$aYield curve 615 7$aFinancial institutions 615 7$aFinancial regulation and supervision 615 7$aFinancial services 615 7$aCommercial banks 615 7$aBanks and banking 615 7$aAsset requirements 615 7$aInterest rates 700 $aChan-Lau$b Jorge$01462089 701 $aLiu$b Estelle$01578617 701 $aSchmittmann$b Jochen M$0956166 801 0$bDcWaIMF 906 $aBOOK 912 $a9910786480003321 996 $aEquity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis$93858187 997 $aUNINA