ASSET SECURITIZATION: EFFECTS ON VALUE OF BANKING INSTITUTIONS

@inproceedings{Solano2006ASSETSE,
  title={ASSET SECURITIZATION: EFFECTS ON VALUE OF BANKING INSTITUTIONS},
  author={Pedro Mart{\'i}nez Solano and Jos{\'e} Yag{\"u}e Guirao and Fulgencio L{\'o}pez Mart{\'i}nez and Pedro Mart{\'i}nez-Solano},
  year={2006}
}
This paper examines the reaction of the Spanish continuous market to the announcement of securitization operations by listed banks in the period 1993-2004. Results indicate the existence of positive and significant abnormal returns on the day immediately following the announcement date. The average cumulative abnormal returns over windows of varying lengths around the announcement date are also positive and significant. The market’s reaction is stronger when the bank has a higher proportion of… CONTINUE READING

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