Search results for "Financial crisi"

Voting Transitions in the 2019 Valencian Autonomous Community’s Elections

2020

The political fragmentation following the 2008 Financial Crisis and its economic, social, political and institutional fall-out have led to a growing left-right polarisation of politics and a weakening of the middle ground. The effective number of parliamentary parties is at an all-time high both inthe Spanish Parliament (Congreso) and in the Valencian Autonomous Parliament (Corts). Voters are spoilt for choice and switch party more often. This paper uses transfer matrices to analyse the shifting voting patterns in the European, General, Regional, and Local elections held during 2019 in The Valencian Country. The most salient result is the ever-shifting pattern at each end of the political s…

How Costly are Debt Crises?

2010

The aim of this paper is to assess the short- and medium-term impact of debt crises on GDP. Using an unbalanced panel of 154 countries from 1970 to 2008, the paper shows that debt crises produce significant and long-lasting output losses, reducing output by about 10 percent after eight years. The results also suggest that debt crises tend to be more detrimental than banking and currency crises. The significance of the results is robust to different specifications, identification and endogeneity checks, and datasets.

Relaciones entre gestión corporativa y crisis financiera en el mercado de capitales español

2015

ResumenLa crisis financiera internacional impulsada por las noticias vertidas en agosto de 2007 ha tenido efectos devastadores sobre los mercados de capitales internacionales. El objetivo de este artículo se centra en verificar, en este contexto de crisis, si las empresas del mercado continuo español generan rendimientos anormales negativos, a la par que investigar qué factores ligados al gobierno corporativo podrían justificar estas anomalías. Nuestros resultados confirman que: a)cuando un mismo sujeto asume dirección ejecutiva y presidencia de la junta, en contra de todo pronóstico, ha tenido efectos beneficiosos sobre la gestión corporativa, permitiendo que esas anomalías se vayan diluye…

From 2009 to 1929

2010

The current and still unfolding crisis of our economic system shows disturbing resemblances to the Great Depression in terms of magnitude, triggering mechanisms, and curative public interventions. This paper compares the experience, mechanisms, and consequences of these two crises in light of the analysis of Fisher, Keynes, and Minsky. This analysis proves very useful for understanding the triggering mechanisms of the current crisis, as well as its propagation mechanisms. It also addresses two dilemmas within the debate about the curative as well as preventive measures for getting out of the crisis and avoiding a new disaster: the dilemma of monetary activism and that of liquidity.

The EU’s urban policy through the 2008 financial crisis: A perspective from the case of Oporto

Many European countries are currently faced with a difficult situation fostered by a set of financial, socioeconomic and environmental problems. The last decade has been particularly rough for the Southern Europe countries due to the political reactions from the European Union (EU) to the strong economic crisis that affected the great majority of the developed economies. The EU’s actions, placed in order to face such challenges, can be characterised as a series of austerity measures that clearly diverged from the original ongoing strategies. The debate on the causes of the crisis remains unsettled and the dominant studies on the crisis focus the socioeconomic national indicators. Since the …

The value relevance of accounting information during the global financial crisis: evidence from Norway

2013

This study investigates how the recent financial crisis influenced the value relevance of accounting information. The empirical analyses show that the book values of equity explained most of the cross-sectional variation in stock prices during the crisis. Still, the earnings response coefficient increased significantly during the period of the crisis. The analysis suggests a separation between the information content of book values and earnings in a crisis situation. The findings are consistent with book values being highly relevant as a proxy variable for liquidation values in a crisis, whereas earnings, in contrast to the balance sheet, capture information about the future earning capabil…

An Exploratory Study of Financial Performance in CEE Countries

2020

Our research investigates the performance of companies from Central and Eastern European (CEE) countries in the period after the Global Financial Crisis of 2007-2009 with the aim of identifying the driving factors behind accounting- and market-based performance. We include in the analysis companies from various industries in CEE countries that are European Union members and we study their performance between 2008-2016 over the following areas of performance:  liquidity,  solvency and indebtedness, operational profitability, global performance (through Return on assets and Return on equity), returns available to shareholders and market-based performance (through price/book value and Tobin Q …

FINANCIAL DEVELOPMENT OPPORTUNITIES OF LATVIA’S SOCIAL SYSTEM AGAINST THE BACKDROP OF CRISIS

2010

Latvian social system is ahead of serious financial problems. The article analyses causes and beginnings of the crisis, in the context of the 1st budget level of social systems in relation to the national budget, as well as the negative impact of the state budget on the social security budget for the financial future. The government also discussed the measures taken by the social system of financial regulation and their impact on society's social environment. Recommendations have been developed for improvement of the situation.

Dental Public Health Landscape: Challenges, Technological Innovation and Opportunities in the 21st Century and COVID-19 Pandemic

2020

The convergent forces of rising costs, growing consumerism, expensive new treatments, sociodemographic shifts and increasing health disparities are exerting intense and unsustainable pressures on healthcare systems. As with the other health domains, these disruptive forces demand new approaches and delivery models for oral healthcare. Technological innovations and practices borrowed from the e-commerce and tech sectors could facilitate the move to a sustainable 21(st) century oral healthcare system, one that delivers high-quality, value-based care to wider groups of patients. The broad reach of mobile technologies and changing digital lifestyles provide unique opportunities for using remote…

The economic impact of European financial integration: The importance of the banking union

2015

Abstract The aim of the paper is to analyze the effect of European financial integration on economic growth. We focus on how the international financial crisis that started in 2007 has affected integration and growth. By combining information at country, sector and firm level, we quantify the effect of financial integration on financial development and therefore on economic growth. Our results illustrate that until the outbreak of the crisis, a significant part of financial development is attributable to progress in integration, with a positive contribution of around 0.04 pp to the EU-15 countries’ GDP growth over the period 1999–2007 of advance in integration. However, during the crisis, t…