Sovereign Wealth Funds and Financial Stability-An Event Study Analysis:
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| 520 | 3 | |a This paper examines financial stability issues that arise from the increased presence of sovereign wealth funds (SWFs) in global financial markets by assessing whether and how stock markets react to the announcements of investments and divestments to firms by SWFs using an event study approach. Based on 166 publicly traceable events collected on investments and divestments by major SWFs during the period from 1990 to 2009, the paper evaluates the short-term financial impact of SWFs on selected public equity markets in which they invest. The impact is analyzed on different sectors (financial and nonfinancial), actions (buy and sell), market types (developed and emerging markets), and level of corporate governance (high and low score). Results, based on these 166 events, show that there was no significant destabilizing effect of SWFs on equity markets, which is consistent with anecdotal evidence | |
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| id | DE-604.BV048349245 |
| illustrated | Not Illustrated |
| indexdate | 2024-12-20T19:42:17Z |
| institution | BVB |
| isbn | 1451873867 9781451873863 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033728513 |
| oclc_num | 1337121879 |
| open_access_boolean | |
| owner | DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-29 DE-22 DE-BY-UBG DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-12 DE-91 DE-BY-TUM |
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| physical | 1 Online-Ressource (17 p) |
| psigel | ZDB-1-IMF |
| publishDate | 2009 |
| publishDateSearch | 2009 |
| publishDateSort | 2009 |
| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF Working Papers |
| spellingShingle | Hesse, Heiko Sovereign Wealth Funds and Financial Stability-An Event Study Analysis |
| title | Sovereign Wealth Funds and Financial Stability-An Event Study Analysis |
| title_auth | Sovereign Wealth Funds and Financial Stability-An Event Study Analysis |
| title_exact_search | Sovereign Wealth Funds and Financial Stability-An Event Study Analysis |
| title_full | Sovereign Wealth Funds and Financial Stability-An Event Study Analysis Hesse, Heiko |
| title_fullStr | Sovereign Wealth Funds and Financial Stability-An Event Study Analysis Hesse, Heiko |
| title_full_unstemmed | Sovereign Wealth Funds and Financial Stability-An Event Study Analysis Hesse, Heiko |
| title_short | Sovereign Wealth Funds and Financial Stability-An Event Study Analysis |
| title_sort | sovereign wealth funds and financial stability an event study analysis |
| url | http://elibrary.imf.org/view/IMF001/10529-9781451873863/10529-9781451873863/10529-9781451873863.xml |
| work_keys_str_mv | AT hesseheiko sovereignwealthfundsandfinancialstabilityaneventstudyanalysis AT suntao sovereignwealthfundsandfinancialstabilityaneventstudyanalysis |