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Unexpected inflation and bank stock returns: the case of France 1977-1991

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dc.contributor.coauthorDermine, Jean
dc.contributor.departmentDepartment of Economics
dc.contributor.facultymemberYes
dc.contributor.kuauthorLajeri-Chaherli, Fatma
dc.contributor.schoolcollegeinstituteCollege of Administrative Sciences and Economics
dc.date.accessioned2024-11-09T23:04:10Z
dc.date.issued1999
dc.description.abstractThis paper evaluates the impact of unexpected inflation on the stock returns of a sample of French banks. It offers an empirical test of theories that have predicted an impact of inflation on the stock returns of banks. The paper complements a large literature that has focused exclusively on the impact of unexpected interest rates. The analysis provides empirical support to the hypothesis that, in periods of volatile inflation, there exists an inflation risk factor which is independent of the well-documented interest rate factor.
dc.description.fulltextNo
dc.description.harvestedfromManual
dc.description.indexedbyWOS
dc.description.indexedbyScopus
dc.description.openaccessNO
dc.description.peerreviewstatusN/A
dc.description.publisherscopeInternational
dc.description.readpublishN/A
dc.description.sponsoredbyTubitakEuN/A
dc.description.sponsorshipThe second author acknowledges financial support from the Danielsson Foundation at the Göteborg and Stockholm Schools of Economics. The authors acknowledge very helpful suggestions from two referees.
dc.description.studentonlypublicationNo
dc.description.studentpublicationNo
dc.description.versionN/A
dc.identifier.WoSQuartileQ2
dc.identifier.doi10.1016/S0378-4266(98)00121-6
dc.identifier.eissn1872-6372
dc.identifier.embargoN/A
dc.identifier.endpage953
dc.identifier.issn0378-4266
dc.identifier.issue6
dc.identifier.scopus2-s2.0-0003602593
dc.identifier.startpage939
dc.identifier.urihttps://doi.org/10.1016/S0378-4266(98)00121-6
dc.identifier.urihttps://hdl.handle.net/20.500.14288/8575
dc.identifier.volume23
dc.identifier.wos000080484900005
dc.keywordsBank stock returns
dc.keywordsInflation
dc.keywordsFrench banking
dc.language.isoeng
dc.publisherElsevier
dc.relation.affiliationKoç University
dc.relation.collectionKoç University Institutional Repository
dc.relation.ispartofJournal of Banking and Finance
dc.relation.openaccessN/A
dc.rightsN/A
dc.subjectFinancial economics
dc.subjectMonetary economics
dc.subjectBanking
dc.subjectAsset pricing
dc.titleUnexpected inflation and bank stock returns: the case of France 1977-1991
dc.typeJournal Article
dspace.entity.typePublication
local.contributor.kuauthorLajeri-Chaherli, Fatma
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