The information technology (IT) resource-based view suggests that IT capability is one of the determinants of a firm’s competitive advantage and financial performance. However, we know relatively little about the relationship between IT capability and financial performance during the period of economic downturn. Even fewer research related to this is done in China as the largest emerging We use...

The CLASS model is a top-down capital stress testing framework that uses public data, simple econometric models, and auxiliary assumptions to project the effect of macroeconomic scenarios on U.S. banking firms. Through the lens of the model, we find that the total banking system capital shortfall under stressful macroeconomic conditions began to rise four years before the financial crisis, peak...

We construct network centrality measures for customer and supplier industries in the U.S. economy. Consistent with Ahern, et al. (2014), we find central suppliers have higher levels of systematic risk than central customers and therefore more exposed to sectoral shocks. We posit that central suppliers have incentives to channel funds to their customers via trade credit. Our empirical results ar...

Abstract Could experiencing a health pandemic aid in understanding the nature of financial crisis? It might, for example, help to discriminate between different narratives that claim do so. In this spirit, two influential accounts near-collapse shadow banking US crisis 2008 are analysed: one developed by Mark Gertler and Nobuhiro Kiyotaki other presented Financial Crisis Inquiry Commission Cong...

During the financial and economic crisis the financial situation of CESEE households deteriorated significantly. Stagnating and in some countries falling disposable income forced households to adjust their consumption plans quite substantially, not least because social security systems in CESEE are still less advanced than in many Western European countries. Against this background this short s...

The crisis originated in the bursting of a house price bubble driven by an excessive credit expansion in the US, which eventually pushed the global financial system to the brink of collapse. In some countries, such as Spain or Ireland, the crisis was further compounded by the bursting of their own housing bubbles. In this regard, the current crisis is an excellent example. Historical evidence s...

The examination of the theory and history of financial crisis in Europe and the United States is the subject matter of two important works by Kindle Berger (Kindle Herger, 1978, and Kindle Berger & Lafarge, 1982). In his first work, Kindle Berger (1978), has provided us with a remarkable account of European and American financial history from 1720 to 1975. The second hook (Kindle Berger & Lafar...

This study analyzes the market quality differences, in terms of liquidity and volatility, between Real Estate Investment Trusts (REITs) and non-REIT common stocks. The 2008 financial crisis has significantly influenced the market quality for REITs. Our findings reveal intraday patterns indicating a lower liquidity, higher volatility, and greater price impact for REITs than nonREITs for pre-cris...