Investor reactions to major events in the sub-prime mortgage crisis

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buir.contributor.authorGünsür, Başak Tanyeri
buir.contributor.orcidBaşak Tanyeri Günsür|0000-0002-9354-2639
dc.citation.epage100823-7en_US
dc.citation.spage100823-1en_US
dc.citation.volumeNumber32en_US
dc.contributor.authorGünsür, Başak Tanyeri
dc.date.accessioned2023-02-24T09:22:35Z
dc.date.available2023-02-24T09:22:35Z
dc.date.issued2022-06
dc.departmentDepartment of Managementen_US
dc.description.abstractWe investigate how investor perceptions about the financial health of twenty-seven bank holding companies that controlled eighty percent of US banking assets at year-end 2006 changed during major events leading to the collapse of Lehman Brothers. We use the event study method to investigate whether and to what extent investors priced major events before the Lehman bankruptcy. Abnormal returns on the event days range from -9.25 to 4.80%. When the Federal Reserve Bank of New York is authorized to lend to Fannie Mae and Freddie Mac on 13 July 2008, sample bank holding companies average the lowest abnormal returns of -9.25. When the Federal Housing Agency places Fannie Mae and Freddie Mac under government conservatorship on 7 September 2008, abnormal returns average the highest at 4.80. The significant abnormal returns indicate that investors price the information released in the pre-crisis events.en_US
dc.identifier.doi10.1016/j.frl.2022.102703en_US
dc.identifier.eissn2214-2894
dc.identifier.urihttp://hdl.handle.net/11693/111679
dc.language.isoEnglishen_US
dc.publisherElsevieren_US
dc.relation.isversionofhttps://doi.org/10.1016/j.frl.2022.102703en_US
dc.source.titleFood Packaging and Shelf Lifeen_US
dc.subjectFinancial crisisen_US
dc.subjectLehman Brothers' Bankruptcyen_US
dc.subjectSub-prime Mortgage crisisen_US
dc.titleInvestor reactions to major events in the sub-prime mortgage crisisen_US
dc.typeArticleen_US

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