Ιδρυματικό Αποθετήριο
Πολυτεχνείο Κρήτης
Πολυτεχνείο Κρήτης
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| URI | http://purl.tuc.gr/dl/dias/66C7A84C-0274-4C77-A782-30B99FA0FEF3 | - |
| Αναγνωριστικό | https://doi.org/10.3390/jrfm15020056 | - |
| Αναγνωριστικό | https://www.mdpi.com/1911-8074/15/2/56 | - |
| Γλώσσα | en | - |
| Μέγεθος | 19 pages | en |
| Τίτλος | Eurozone stock market reaction to monetary policy interventions and other covariates | en |
| Δημιουργός | Petrakis Nikolaos | en |
| Δημιουργός | Lemonakis Christos | en |
| Δημιουργός | Λεμονακης Χρηστος | el |
| Δημιουργός | Floros, Christos | en |
| Δημιουργός | Zopounidis Konstantinos | en |
| Δημιουργός | Ζοπουνιδης Κωνσταντινος | el |
| Εκδότης | MDPI | en |
| Περίληψη | The joint effect of the global economic and sovereign debt crisis forced the European Central Bank (ECB) to apply conventional and non-standard expansionary monetary policy interventions in order to stabilize eurozone economies. We conducted a panel regression econometric analysis to study the influence of euro area monetary authority policy interventions, along with two main macroeconomic variables and a sentiment indicator, on market equity returns of eurozone countries for the period January 2007 to December 2017. Our findings suggest that conventional and non-standard monetary policy innovations had a positive lagged impact on equity returns of euro area monetary markets. More specifically, interest rate cuts evenly influenced market indices while non-conventional actions mainly affected core eurozone countries that were less affected by the crisis. We also document a strong negative relationship between inflation rates and market returns. In addition, the sentiment indicator produces positive effects on returns because it contains information that is not incorporated into other macro variables. | en |
| Τύπος | Peer-Reviewed Journal Publication | en |
| Τύπος | Δημοσίευση σε Περιοδικό με Κριτές | el |
| Άδεια Χρήσης | http://creativecommons.org/licenses/by/4.0/ | en |
| Ημερομηνία | 2023-08-29 | - |
| Ημερομηνία Δημοσίευσης | 2022 | - |
| Θεματική Κατηγορία | Monetary policy | en |
| Θεματική Κατηγορία | Central Bank | en |
| Θεματική Κατηγορία | Financial crisis | en |
| Θεματική Κατηγορία | Panel data | en |
| Βιβλιογραφική Αναφορά | N. Petrakis, C. Lemonakis, C. Floros, and C. Zopounidis, “Eurozone stock market reaction to monetary policy interventions and other covariates,” J. Risk Financial Manag., vol. 15, no. 2, Jan. 2022, doi: 10.3390/jrfm15020056. | en |
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