Matches in SemOpenAlex for { <https://semopenalex.org/work/W3160338086> ?p ?o ?g. }
- W3160338086 endingPage "996" @default.
- W3160338086 startingPage "957" @default.
- W3160338086 abstract "Abstract The role of liquidity in the banking industry is increasingly under the spotlight since the Global Financial Crisis (GFC) in 2007. Prior evidence offers contrasting findings on the role played by liquidity in banks: whilst it ensures systemic financial stability, at the same time it raises agency costs. Notwithstanding this, European banks benefited from a generous liquidity injection following the launch of the Quantitative Easing (QE) programme by the European Central Bank (ECB) in 2015–2016. We leverage on the release of the QE and investigate whether investors’ reactions to the announcements of new liquidity injections vary according to bank-level characteristics of the European banks: namely, their financial soundness, asset portfolio quality and the level of transparency. Our findings document an overall negative market reaction to the QE announcements; at a more fine-grained level of analysis we highlight that banks falling short of the regulatory requirements are not expected to benefit from additional liquidity. This study contributes to the literature on the role of liquidity in banks by showing important boundary conditions to the beneficial role of liquidity in banks, that is—because of the regulatory capital requirements—liquidity is only valuable to investors if it can be reinvested once constraints are overcome." @default.
- W3160338086 created "2021-05-24" @default.
- W3160338086 creator A5017967585 @default.
- W3160338086 creator A5020436311 @default.
- W3160338086 creator A5040512119 @default.
- W3160338086 date "2021-05-12" @default.
- W3160338086 modified "2023-09-27" @default.
- W3160338086 title "Investors’ expectations around quantitative easing: does liquidity injection affect European banks equally?" @default.
- W3160338086 cites W1519885029 @default.
- W3160338086 cites W1985087998 @default.
- W3160338086 cites W1990116088 @default.
- W3160338086 cites W1994976978 @default.
- W3160338086 cites W1995834279 @default.
- W3160338086 cites W2004962644 @default.
- W3160338086 cites W2005472839 @default.
- W3160338086 cites W2006536795 @default.
- W3160338086 cites W2007374379 @default.
- W3160338086 cites W2008268522 @default.
- W3160338086 cites W2019222975 @default.
- W3160338086 cites W2033910434 @default.
- W3160338086 cites W2046761476 @default.
- W3160338086 cites W2058444762 @default.
- W3160338086 cites W2059944760 @default.
- W3160338086 cites W2070555426 @default.
- W3160338086 cites W2074833847 @default.
- W3160338086 cites W2083303559 @default.
- W3160338086 cites W2116988722 @default.
- W3160338086 cites W2128778916 @default.
- W3160338086 cites W2130445976 @default.
- W3160338086 cites W2134443358 @default.
- W3160338086 cites W2157509893 @default.
- W3160338086 cites W220523582 @default.
- W3160338086 cites W2306852118 @default.
- W3160338086 cites W2333451471 @default.
- W3160338086 cites W2340676008 @default.
- W3160338086 cites W2346456716 @default.
- W3160338086 cites W2485182920 @default.
- W3160338086 cites W2526977554 @default.
- W3160338086 cites W2537277770 @default.
- W3160338086 cites W2554293883 @default.
- W3160338086 cites W2577710765 @default.
- W3160338086 cites W2582713259 @default.
- W3160338086 cites W2584656615 @default.
- W3160338086 cites W2585439856 @default.
- W3160338086 cites W2752617332 @default.
- W3160338086 cites W2891218707 @default.
- W3160338086 cites W3004779378 @default.
- W3160338086 cites W3023362689 @default.
- W3160338086 cites W3121630491 @default.
- W3160338086 cites W3121893308 @default.
- W3160338086 cites W3121949167 @default.
- W3160338086 cites W3121961470 @default.
- W3160338086 cites W3122580768 @default.
- W3160338086 cites W3122665682 @default.
- W3160338086 cites W3122667725 @default.
- W3160338086 cites W3123071653 @default.
- W3160338086 cites W3123121073 @default.
- W3160338086 cites W3123181404 @default.
- W3160338086 cites W3123498328 @default.
- W3160338086 cites W3123692385 @default.
- W3160338086 cites W3123703631 @default.
- W3160338086 cites W3123791480 @default.
- W3160338086 cites W3123794896 @default.
- W3160338086 cites W3123913209 @default.
- W3160338086 cites W3123954093 @default.
- W3160338086 cites W3124203394 @default.
- W3160338086 cites W3124284225 @default.
- W3160338086 cites W3124288427 @default.
- W3160338086 cites W3124328633 @default.
- W3160338086 cites W3124363000 @default.
- W3160338086 cites W3124386961 @default.
- W3160338086 cites W3124635306 @default.
- W3160338086 cites W3124658167 @default.
- W3160338086 cites W3124834386 @default.
- W3160338086 cites W3124914565 @default.
- W3160338086 cites W3125125500 @default.
- W3160338086 cites W3125210462 @default.
- W3160338086 cites W3125313815 @default.
- W3160338086 cites W3125456580 @default.
- W3160338086 cites W3125498602 @default.
- W3160338086 cites W3125521824 @default.
- W3160338086 cites W3125577425 @default.
- W3160338086 cites W3125593665 @default.
- W3160338086 cites W3125764186 @default.
- W3160338086 cites W3206549871 @default.
- W3160338086 cites W4236584637 @default.
- W3160338086 cites W4240307802 @default.
- W3160338086 cites W4256405316 @default.
- W3160338086 cites W4300977304 @default.
- W3160338086 cites W4361744884 @default.
- W3160338086 doi "https://doi.org/10.1007/s10997-021-09579-5" @default.
- W3160338086 hasPublicationYear "2021" @default.
- W3160338086 type Work @default.
- W3160338086 sameAs 3160338086 @default.
- W3160338086 citedByCount "0" @default.
- W3160338086 crossrefType "journal-article" @default.
- W3160338086 hasAuthorship W3160338086A5017967585 @default.
- W3160338086 hasAuthorship W3160338086A5020436311 @default.