Since 2014
The Market Survival of Publicly Traded Traditional and Market-Based Financial Intermediaries
Applied Economics and Finance
View Archive Info| Field | Value | |
| Title |
The Market Survival of Publicly Traded Traditional and Market-Based Financial Intermediaries
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| Creator |
Schaffer, Marc
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| Description |
The financial crisis highlighted the pivotal role that financial intermediaries play in the economy. Recent research has analyzed the differences between traditional and market-based financial intermediaries, noting the greater balance sheet volatility of the former category. Using these volatility differences as a basis, this paper compares the stock market delisting behavior of market-based and traditional financial intermediaries. Using survival analysis, I find that market-based intermediaries carry greater cumulative incidence of stock market delisting due to firm failure and M&A activity relative to traditional intermediaries. Additionally, idiosyncratic risk plays an important role in the survival behavior across these institutional structures. JEL Classifications: G20, G21
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| Publisher |
Redfame Publishing
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| Contributor |
—
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| Date |
2015-03-24
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
http://redfame.com/journal/index.php/aef/article/view/740
10.11114/aef.v2i2.740 |
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| Source |
Applied Economics and Finance; Vol 2, No 2 (2015); 52-67
2332-7308 2332-7294 |
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| Language |
eng
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| Relation |
http://redfame.com/journal/index.php/aef/article/view/740/683
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