IDEAS home Printed from https://ideas.repec.org/a/cud/journl/v42y2019i119p189-206.html
   My bibliography  Save this article

Índice de Calidad Financiera (iCF)

Author

Listed:
  • Damià Rey Miró

    (Barcelona Stock Exchange Studies (BME). Department of Economics, Universidad de Barcelona, Barcelona, España)

  • Pedro V. Piffaut

    (Columbia University in the City of New York, New York, USA)

Abstract

Once the financial crisis started in the middle of 2007, the financial authorities, as well as the main governments of developed economies, began to emphasize the importance of anticipating and estimating the systemic financial risks over the risk of a given sector. Beyond macroeconomic strength, if they have higher quality equity markets, countries should be bet-ter prepared to cope with potential volatility of capital flows. Consequently, the new European directive MIFID II (Markets in Financial Instruments Directive), which will come into force in January 2018, is based on the premises of the market’s security, efficiency and transparency towards investors. The current work intends to develop an indicator that reinforces and meas-ures the quality of the market, in particular the Spanish equity market, with the development of a new indicator called ICF (Financial Quality Index) that shows, in an objective way, the degree of maturity and market stability.

Suggested Citation

  • Damià Rey Miró & Pedro V. Piffaut, 2019. "Índice de Calidad Financiera (iCF)," Cuadernos de Economía - Spanish Journal of Economics and Finance, Asociación Cuadernos de Economía, vol. 42(119), pages 189-206, Mayo.
    • Handle: RePEc:cud:journl:v:42:y:2019:i:119:p:189-206
    as

    Download full text from publisher

    File URL: https://reveyf.es/index.php/REyF/article/view/170/70
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Stress index; Composite indicator; Real economy; Systemic risk; Financial quality index;
    All these keywords.

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cud:journl:v:42:y:2019:i:119:p:189-206. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Erick Tinsson (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.