Paulson's Gift

By Pietro Veronesi, Luigi Zingales. 2010

410 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/7ff0d9e5747e7df23dc14c27737871e396809b25

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Citations in the corpus

Corporate Governance: What’s Special About Banks? (2013, background): “Veronesi & Zingales (2010) present estimates of the net benefits accruing to claimholders’ banks from a US government intervention in the financial sector announced onMonday,October 13, 2008.”
Corporate Governance and Corporate Social Responsibility Disclosure: Evidence from the US Banking Sector (2013, neutral): “…performance have become particularly important to banks’ sustainability, since they rely on depositors and government agencies as key sources for funding and liquidity (Grove et al. 2011; Veronesi and Zingales 2010), and as investors have become increasingly risk averse (Gemmill and Keswani 2011).”
The Politics of Government Investment (2012, positive): “Veronesi and Zingales (2010) study the costs and benefits of TARP by examining the changes in enterprise value of the largest program participants around the announcement of first capital infusions.”
Corporate governance in the 2007–2008 financial crisis: Evidence from financial institutions worldwide (2012, methodology): “30 In contrast to Veronesi and Zingales (2010), who use the CDX (North American Investment Grade) index as a benchmark, we use a CDS index comprising the universe of global CDS because we have a global sample.”
Credit Default Swaps: A Survey (2014, positive): “according to Wang and Moore [2012], who review the dynamic correlations across the sovereign CDS spreads of 38 emerging and developed countries with the U.”
Did Saving Wall Street Really Save Main Street? The Real Effects of TARP on Local Economic Conditions (2015, positive): “Veronesi and Zingales (2010) estimate the costs and benefits of TARP capital infusions in the 10 largest banks up to 2009.”
Quantifying Structural Subsidy Values for Systemically Important Financial Institutions (2012, methodology): “Another paper using the event study methodology is Veronesi and Zingales (2009), who analyze the effects of the Paulson Plan (10/13/2009).”
The Value of Connections in Turbulent Times: Evidence from the United States (2016, neutral): “Subject to criteria that were not widely understood, the Treasury Department determined who received the bene…t of both cheap capital and a government seal of approval (Veronesi and Zingales, 2010).”
Too-Systemic-To-Fail: What Option Markets Imply About Sector-Wide Government Guarantees (2016, positive): “Veronesi and Zingales (2010) use CDS data to measure the value of government bailouts to bondholders and stockholders of the largest financial firms from the 2008 Paulson plan.”
Safer Ratios, Riskier Portfolios: Banks’ Response to Government Aid (2014, positive): “19 The intuition for this result was first developed in Roy (1952). For a more recent discussion of the relation between z-score and bank default, see Laeven and Levine (2009).”
Did TARP Banks Get Competitive Advantages? (2015, positive): “Veronesi and Zingales (2010) find that as of the end of 2009, TARP increased the value of the top 10 banks’ financial claims by $130 billion at a taxpayer cost of $21–$44 billion, with a net benefit between $86 and $109 billion.”
Bank Lending During the Financial Crisis of 2008 (2010, neutral): “Veronesi and Zingales (2008) show that this led to a large drop in the perceived probability of default as measured by bank credit default swap spreads.”