February 10, 2014 Bank of Canada: Promoting Canada’s Economic and Financial Well-Being Presentation John Murray Greater Sudbury Chamber of Commerce Sudbury, Ontario Deputy Governor John Murray discusses how the Bank of Canada promotes Canada’s economic and financial well-being. Content Type(s): Press, Speeches and appearances, Presentations
Corporate Governance, Product Market Competition and Debt Financing Staff Working Paper 2014-5 Teodora Paligorova, Jun Yang This paper examines the impact of product market competition and corporate governance on the cost of debt financing and the use of bond covenants. We find that more anti-takeover provisions are associated with a lower cost of debt only in competitive industries. Content Type(s): Staff research, Staff working papers Topic(s): Financial markets JEL Code(s): G, G1, G12, G3, G34
January 31, 2014 Weekly Financial Statistics - 31 January 2014 Content Type(s): Publications, Historical: Weekly Financial Statistics
It Hurts (Stock Prices) When Your Team Is About to Lose a Soccer Match Staff Working Paper 2014-2 Michael Ehrmann, David-Jan Jansen The end result of major sporting events has been shown to affect next-day stock returns through shifts in investor mood. By studying the soccer matches that led to the elimination of France and Italy from the 2010 FIFA World Cup, we show that mood-related pricing effects can materialize as sporting events unfold. Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Financial markets JEL Code(s): G, G0, G02, G1, G12, G14, G15
January 10, 2014 Weekly Financial Statistics - 10 January 2014 Content Type(s): Publications, Historical: Weekly Financial Statistics
Cash Management and Payment Choices: A Simulation Model with International Comparisons Staff Working Paper 2013-53 Carlos Arango, Yassine Bouhdaoui, David Bounie, Martina Eschelbach, Lola Hernández Despite various payment innovations, today, cash is still heavily used to pay for low-value purchases. This paper develops a simulation model to test whether standard implications of the theory on cash management and payment choices can explain the use of payment instruments by transaction size. Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Financial services, International topics JEL Code(s): C, C6, C61, E, E4, E41, E47
Funding Advantage and Market Discipline in the Canadian Banking Sector Staff Working Paper 2013-50 Mehdi Beyhaghi, Chris D'Souza, Gordon S. Roberts We employ a comprehensive data set and a variety of methods to provide evidence on the magnitude of large banks’ funding advantage in Canada, and on the extent to which market discipline exists across different securities issued by the Canadian banks. Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Interest rates JEL Code(s): G, G0, G01, G2, G21, G28, G3, G32, G33
A Distributional Approach to Realized Volatility Staff Working Paper 2013-49 Selma Chaker, Nour Meddahi This paper proposes new measures of the integrated variance, measures which use high-frequency bid-ask spreads and quoted depths. The traditional approach assumes that the mid-quote is a good measure of frictionless price. Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Financial markets JEL Code(s): C, C1, C14, C5, C51, C58
December 18, 2013 Results of the 18 December 2013 Term Repo Operation for Balance Sheet Management Purposes The results of today's term repo for balance sheet management purposes operation. Content Type(s): Press, Market notices
December 13, 2013 Weekly Financial Statistics - 13 December 2013 Content Type(s): Publications, Historical: Weekly Financial Statistics