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