cam a22 2 b4500 530156652 CHVBK 20201027045111.0 m d cr |n |||||||| 130723e20091001dcu s|||| 0 |eng|d 978-1-4519-9329-5 1-4519-9329-3 (EBook) : USD 18.00 Retail Price (Publisher) (SERSOL)ssj0001486865 (WaSeSS)ssj0001486865 BIP US WaSeSS Hesse Heiko Author Sovereign Wealth Funds and Financial Stability-An Event Study Analysis [Elektronische Daten] Washington International Monetary Fund Oct. 2009 1 online resource (25 p.) Free full text available for some or all content. Article availability is subject to change without notice, according to publisher decision. Die Verfügbarkeit der Online-Ressourcen ist Entscheidung des Verlags oder des Urhebers und kann ohne vorherige Ankündigung geändert werden. Annotation 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. Sun Tao Author http://elibrary.imf.org/view/IMF001/10529-9781451873863/10529-9781451873863/10529-9781451873863.xml Volltext frei zugänglich BK020053 XK020053 XK020000 IMF E-Library E-Books von 360MarcUpdates IDSBB FREE FREE OL NELFREE2004 IDSBB 100 1- Hesse Heiko Author IDSBB 700 1- Sun Tao Author IDSBB 856 40 http://elibrary.imf.org/view/IMF001/10529-9781451873863/10529-9781451873863/10529-9781451873863.xml Volltext frei zugänglich SWISSBIB 488097304