Artículos científicos

• Effects of economic variables on NPLs depending on the economic cycle

  Climent, S Serrano

  (2017).Article

  Empir Econ. Num.56, 325–340

  Late payments are a major problem for Spanish banks. This paper studies as determinants of loan delinquency: unemployment, interest rates, inflation, housing prices, leverage, bad debt coverage and solvency, which were the main problems facing the Spanish economy between 2004 and 2015, and also examines these determinants in periods of growth and recession. The results show that the price of housing, bad debt coverage, interest rates and solvency are the variables with the greatest impact on NPLs. Furthermore, differences exist in the behaviour of variables during periods of growth compared with periods of recession. Inertia of the dependent variable has also been detected.

  DOI: https://doi.org/10.1007/s00181-017-1362-y

• Bank Fragility and Contagion: Evidence from the CDS market. Journal of Empirical Finance Forthcoming.

  Ballester, L., Casu, B. and González-Urteaga, A.

  (2016).Article

• Revolving doors: are the valued in the Spanish stock market?

  Farinos, J.E., Garcia, C.J., Herrero, B. e Ibánez, A.M.

  (2016).Article

  Academia Revista Latinoamericana de Administración. Num.Vol. 29, nº 2, pp. 147-164

• Volatility spillovers in the European bank CDS market. Finance Research Letters

  Alemany, A., Ballester, L. and González-Urteaga, A.

  (2015).Article

  Vol. 13, 137-147

• Do acquirers’ stock prices fully react to the acquisition announcement of listed vs. unlisted target firms? Out–of–sample evidence from Spain

  Latorre, M.A., B. Herrero y J.E. Farinós

  (2014).Participació en congressos

  Social Science Research Network.

• Options and Accounting Information: Empirical Evidence in Stock and Derivative Markets

  García Martín, C.J.; B. Herrero Piqueras and A.M. Ibáñez Escribano

  (2014).Participació en congressos

  SSRN.

• What makes carbon traders cluster their orders?

  Palao, Fernando and Ángel Pardo

  (2014).

  Energy Economics. Num.pp. 158-165

• The Timeline of Trading Frictions in the European Carbon Market

  Medina, Vicente; Ángel Pardo y Roberto Pascual

  (2014).Article

  Energy Economics. Num.42, 378–394

• Do acquirers’ stock prices fully react to the acquisition announcement of listed versus unlisted target firms? Out-of-sample evidence from Spain

  Latorre, M.A., B. Herrero y J.E. Farinós

  (2014).Article

  Applied Economics Letters. Num.21:15, 1075-1078

  Previous results are ambiguous about whether prices fully reflect value creation or destruction at the time of the acquisition announcement when samples are split into listed and unlisted target firms. We find that the Spanish market fully reacts to the acquisition announcement (showing value creation only for unlisted target firm acquisitions), except for the smallest bidders of public targets since we find significant positive abnormal returns for a 24-month post-acquisition window. This evidence is consistent with investors extrapolating the performance of large acquirers of public firm to smaller ones and, therefore, only identifying value creation in the long term.

  DOI: https://doi.org/10.1080/13504851.2014.909566

• Information and Investor Behavior Surrounding Earnings Announcements

  García, C.José, Herrero, Begoña and Ana M. Ibáñez

  (2014).Article

  Journal of Behavioral Finance.