Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/83469
Authors: 
Chan-Lau, Jorge A.
Liu, Estelle X.
Schmittmann, Jochen M.
Year of Publication: 
2013
Series/Report no.: 
Discussion Paper, Deutsche Bundesbank 32/2013
Abstract: 
This 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.
Subjects: 
banks
equity returns
financial crisis
sovereign risk
sovereign debt crisis
economic growth
regulatory capital
panel data econometrics
JEL: 
G01
G14
G21
ISBN: 
9783865589507
Document Type: 
Working Paper

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