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The Resource Sovereign Wealth Funds and Financial Stability-An Event Study Analysis, Heiko Hesse

Sovereign Wealth Funds and Financial Stability-An Event Study Analysis, Heiko Hesse

Label
Sovereign Wealth Funds and Financial Stability-An Event Study Analysis
Title
Sovereign Wealth Funds and Financial Stability-An Event Study Analysis
Statement of responsibility
Heiko Hesse
Creator
Contributor
Author
Subject
Genre
Language
eng
Summary
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
Member of
Cataloging source
DcWaIMF
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
http://library.link/vocab/creatorName
Hesse, Heiko
Government publication
international or intergovernmental publication
LC call number
K4452.I57
LC item number
H477 2009 ONLINE
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
Sun, Tao
Series statement
IMF Working Paper
Series volume
WP/09/239
http://library.link/vocab/subjectName
  • Corporate Finance and Governance: General
  • Event Study
  • Financial Markets
  • Financial Sector
  • General Financial Markets: Government Policy and Regulation
  • Stock Market
  • China, People's Republic of
  • Korea, Republic of
  • Singapore
Label
Sovereign Wealth Funds and Financial Stability-An Event Study Analysis, Heiko Hesse
Instantiates
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
imfWPIEA2009239
Dimensions
unknown
Extent
1 online resource (17 pages)
Form of item
online
Isbn
9781451873863
Issn
1018-5941
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781451873863.001
Specific material designation
remote
System control number
(IMF)WPIEA2009239
Label
Sovereign Wealth Funds and Financial Stability-An Event Study Analysis, Heiko Hesse
Publication
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
imfWPIEA2009239
Dimensions
unknown
Extent
1 online resource (17 pages)
Form of item
online
Isbn
9781451873863
Issn
1018-5941
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781451873863.001
Specific material designation
remote
System control number
(IMF)WPIEA2009239

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