In search of a safe haven in times of turbulence: Effects of First Republic Bank failure on global asset markets
The failure of First Republic Bank (FRB) – the largest bankruptcy in the US banking system since the GFC – may send chilling effects through different asset markets in the US and even worldwide. This paper aims to clarify the effects of FRB failure on several assets and figure out potential safe hav...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2023-10-01
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| Series: | Heliyon |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2405844023076077 |
| _version_ | 1797646625069334528 |
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| author | Haitham Nobanee Philip Anthony Hamill Wajahat Azmi Dipanwita Chakraborty Xuan-Hoa Nghiem |
| author_facet | Haitham Nobanee Philip Anthony Hamill Wajahat Azmi Dipanwita Chakraborty Xuan-Hoa Nghiem |
| author_sort | Haitham Nobanee |
| collection | DOAJ |
| description | The failure of First Republic Bank (FRB) – the largest bankruptcy in the US banking system since the GFC – may send chilling effects through different asset markets in the US and even worldwide. This paper aims to clarify the effects of FRB failure on several assets and figure out potential safe havens for investors during the 2023 US banking turmoil. Results from the event study approach reveal that eleven particular assets are relatively safe during the current turbulence. Several important implications are made for investors, portfolio managers, and policymakers. |
| first_indexed | 2024-03-11T15:04:21Z |
| format | Article |
| id | doaj.art-f7fd76cf44ae4446b0865e1f12f38366 |
| institution | Directory Open Access Journal |
| issn | 2405-8440 |
| language | English |
| last_indexed | 2024-03-11T15:04:21Z |
| publishDate | 2023-10-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Heliyon |
| spelling | doaj.art-f7fd76cf44ae4446b0865e1f12f383662023-10-30T06:05:57ZengElsevierHeliyon2405-84402023-10-01910e20399In search of a safe haven in times of turbulence: Effects of First Republic Bank failure on global asset marketsHaitham Nobanee0Philip Anthony Hamill1Wajahat Azmi2Dipanwita Chakraborty3Xuan-Hoa Nghiem4College of Business, Abu Dhabi University, United Arab Emirates; Oxford Centre for Islamic Studies, University of Oxford, United Kingdom; Faculty of Humanities & Social Sciences, The University of Liverpool, United Kingdom; Corresponding author. College of Business, Abu Dhabi University, P.O. Box 59911, Abu Dhabi, United Arab Emirates.College of Business, Abu Dhabi University, United Arab EmiratesThiagarajar School of Management, IndiaJagan Institute of Management Studies, India; Indian Institute of Technology Kharagpur, IndiaInternational School, Vietnam National University, Hanoi, Viet NamThe failure of First Republic Bank (FRB) – the largest bankruptcy in the US banking system since the GFC – may send chilling effects through different asset markets in the US and even worldwide. This paper aims to clarify the effects of FRB failure on several assets and figure out potential safe havens for investors during the 2023 US banking turmoil. Results from the event study approach reveal that eleven particular assets are relatively safe during the current turbulence. Several important implications are made for investors, portfolio managers, and policymakers.http://www.sciencedirect.com/science/article/pii/S2405844023076077Bank failureSafe havensAssets marketsEvent study |
| spellingShingle | Haitham Nobanee Philip Anthony Hamill Wajahat Azmi Dipanwita Chakraborty Xuan-Hoa Nghiem In search of a safe haven in times of turbulence: Effects of First Republic Bank failure on global asset markets Heliyon Bank failure Safe havens Assets markets Event study |
| title | In search of a safe haven in times of turbulence: Effects of First Republic Bank failure on global asset markets |
| title_full | In search of a safe haven in times of turbulence: Effects of First Republic Bank failure on global asset markets |
| title_fullStr | In search of a safe haven in times of turbulence: Effects of First Republic Bank failure on global asset markets |
| title_full_unstemmed | In search of a safe haven in times of turbulence: Effects of First Republic Bank failure on global asset markets |
| title_short | In search of a safe haven in times of turbulence: Effects of First Republic Bank failure on global asset markets |
| title_sort | in search of a safe haven in times of turbulence effects of first republic bank failure on global asset markets |
| topic | Bank failure Safe havens Assets markets Event study |
| url | http://www.sciencedirect.com/science/article/pii/S2405844023076077 |
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