Volume 2022 : 2
Priorities for financial services regulation until the end of the mandate
Ten years of prudential supervision in a fast-changing economic environment
Digitization in the banking sector. Threat or opportunity?
10 years of prudential supervision at the NBB
[The European banking supervision from a transatlantic perspective] Is the water bluer on the other side of the pond?
[10 years of prudential supervision at the National Bank of Belgium] Report of the panel discussion
[10 years of prudential supervision at the National Bank of Belgium] Closing remarks
Bank Industry specialization and bank performance
How do capital requirements and supervision impact the profitability of investment banks in the EU? An empirical analysis
Performantie van financiële instellingen na uitgifte van groene obligaties
How does the European corona bank dividend ban affect banks’ market valuation?
Bank financing to SMEs during a global pandemic
Institutional Factors and Insurance Profitability. Empirical evidence
Special Purpose Acquisition Companies: The impact of the conflict of interest between SPAC sponsors and investors on the stock performance in the US market
Duurzaamheid als competitief voordeel. De competitieve wenselijkheid om verder te gaan dan de geldende milieuregelgeving
Priorities for financial services regulation until the end of the mandate
Ten years of prudential supervision in a fast-changing economic environment
Digitization in the banking sector. Threat or opportunity?
10 years of prudential supervision at the NBB
[The European banking supervision from a transatlantic perspective] Is the water bluer on the other side of the pond?
[10 years of prudential supervision at the National Bank of Belgium] Report of the panel discussion
[10 years of prudential supervision at the National Bank of Belgium] Closing remarks
Bank Industry specialization and bank performance
How do capital requirements and supervision impact the profitability of investment banks in the EU? An empirical analysis
Performantie van financiële instellingen na uitgifte van groene obligaties
How does the European corona bank dividend ban affect banks’ market valuation?
Bank financing to SMEs during a global pandemic
Institutional Factors and Insurance Profitability. Empirical evidence
Special Purpose Acquisition Companies: The impact of the conflict of interest between SPAC sponsors and investors on the stock performance in the US market
Duurzaamheid als competitief voordeel. De competitieve wenselijkheid om verder te gaan dan de geldende milieuregelgeving
Année
2022
Volume
2022
Numéro
2
Page
122
Langue
Anglais
Juridiction
Référence
E. SANDERS, “How does the European corona bank dividend ban affect banks’ market valuation?”, BFW 2022, nr. 2, 122-124
Résumé
This thesis analyzes the impact of the ECB dividend ban on euro area banks' market valuations. The dividend ban was an unprecedented macroprudential measure introduced by the ECB at the start of the Covid-19 pandemic and aimed at maintaining sufficient capital buffers in the euro area banking system. The dissertation utilizes this policy measure, prohibiting banks to pay out dividends, to assess the importance of dividends to bank shareholders. Via a capital asset pricing model, it is found that banks' share prices dropped significantly in response to the dividend ban, with the impact being stronger when these institutions are larger or have a more fragmented ownership structure.
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