search query: @indexterm SECURITIZATION / total: 24
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| Author: | Martinez-Solano, P. Yague-Guirao, J. Lopez-Martinez, F. |
| Title: | Asset securitization: Effects on value of banking institutions |
| Journal: | European Journal of Finance
2009 : JAN/FEB, VOL. 15:1-2, p. 119-136 |
| Index terms: | financial markets stock markets banking efficiency securitization event studies Spain |
| Language: | eng |
| Abstract: | This paper explores the reaction of the Spanish stock market to the announcement of securitization operations by listed banks from 1993 to 2004. Among others, indicated is the existence of positive and significant abnormal returns on the day immediately following the announcement date. The market reaction is stronger with the bank having a higher proportion of equity in its capital structure, with less profitability, and with previously undertaking securitization transactions. |
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