The Role of Equity Funds in the Financial Crisis Propagation

• المؤلفون الرئيسيون: CHUA, Choong Tze, Hau, Harald, LAI, Sandy
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2011
• الموضوعات: Finance and Financial Management; Portfolio and Security Analysis
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/lkcsb_research/3071; https://ssrn.com/abstract=1742065
• المؤسسة: Singapore Management University

The early stage of the recent financial crisis was marked by large value losses for bank stocks. This paper identifies the equity funds most affected by this valuation shock and examines its consequences for the non-financial stocks owned by the same funds. We find that (i) ownership links to “distr...