Which Firms Benefit from Corporate QE during the COVID-19 Crisis? The Case of the ECB's Pandemic Emergency Purchase Program

Which Firms Benefit from Corporate QE during the COVID-19 Crisis? The Case of the ECB's Pandemic Emergency Purchase Program

Using an event study methodology, this paper examines how European firms have been affected by the announcement of the European Central Bank's Pandemic Emergency Purchase Program (PEPP). Firms with an investment grade rating benefit relatively...

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Bibliographic Details
Main Authors: Demirgüç-Kunt, Asli, Horváth, Bálint L., Huizinga, Harry
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2020
Subjects:
QUANTITATIVE EASING
EQUITY RETURN
CORONAVIRUS
COVID-19
PANDEMIC RESPONSE
EUROPEAN CENTRAL BANK
PANDEMIC EMERGENCY PURCHASE PROGRAM
PEPP
CORPORATE DEBT
INVESTMENT GRADE
DEBT VALUATION
DEBT OVERHANG
Online Access:http://documents.worldbank.org/curated/en/593271599061682497/Which-Firms-Benefit-from-Corporate-QE-during-the-COVID-19-Crisis-The-Case-of-the-ECBs-Pandemic-Emergency-Purchase-Program
http://hdl.handle.net/10986/34426

Internet

http://documents.worldbank.org/curated/en/593271599061682497/Which-Firms-Benefit-from-Corporate-QE-during-the-COVID-19-Crisis-The-Case-of-the-ECBs-Pandemic-Emergency-Purchase-Program
http://hdl.handle.net/10986/34426

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