---
_id: '4397'
abstract:
- lang: eng
  text: 'Employing four event dates of the U.S. “Troubled Asset Relief Program” (TARP)
    this paper empirically investigates the impact of the first announcement of TARP
    (September 19, 2008), the announcement of revised TARP (October 14, 2008), respective
    capital infusions under TARP-CPP and capital repayments on changes in shareholder
    value and risk exposure of 125 supported U.S. banks as perceived by the capital
    market through share price reactions for an entire sample period from September
    19, 2008 to June 16, 2010. Our analysis reveals a light and a dark side of TARP.
    While announcements as well as capital repayments may restore market confidence
    and financial stability, equity capital injections to banks are observed to be
    a severe impediment to an increase in bank shareholder value and financial soundness. '
author:
- first_name: Christian
  full_name: Farruggio, Christian
  last_name: Farruggio
- first_name: Tobias C.
  full_name: Michalak, Tobias C.
  last_name: Michalak
- first_name: André
  full_name: Uhde, André
  id: '36049'
  last_name: Uhde
  orcid: https://orcid.org/0000-0002-8058-8857
citation:
  ama: Farruggio C, Michalak TC, Uhde A. The light and dark side of TARP. <i>Journal
    of Banking and Finance</i>. 2013;32(5):2586-2604. doi:<a href="https://doi.org/10.1016/j.jbankfin.2013.02.020">10.1016/j.jbankfin.2013.02.020</a>
  apa: Farruggio, C., Michalak, T. C., &#38; Uhde, A. (2013). The light and dark side
    of TARP. <i>Journal of Banking and Finance</i>, <i>32</i>(5), 2586–2604. <a href="https://doi.org/10.1016/j.jbankfin.2013.02.020">https://doi.org/10.1016/j.jbankfin.2013.02.020</a>
  bibtex: '@article{Farruggio_Michalak_Uhde_2013, title={The light and dark side of
    TARP}, volume={32}, DOI={<a href="https://doi.org/10.1016/j.jbankfin.2013.02.020">10.1016/j.jbankfin.2013.02.020</a>},
    number={5}, journal={Journal of Banking and Finance}, author={Farruggio, Christian
    and Michalak, Tobias C. and Uhde, André}, year={2013}, pages={2586–2604} }'
  chicago: 'Farruggio, Christian, Tobias C. Michalak, and André Uhde. “The Light and
    Dark Side of TARP.” <i>Journal of Banking and Finance</i> 32, no. 5 (2013): 2586–2604.
    <a href="https://doi.org/10.1016/j.jbankfin.2013.02.020">https://doi.org/10.1016/j.jbankfin.2013.02.020</a>.'
  ieee: 'C. Farruggio, T. C. Michalak, and A. Uhde, “The light and dark side of TARP,”
    <i>Journal of Banking and Finance</i>, vol. 32, no. 5, pp. 2586–2604, 2013, doi:
    <a href="https://doi.org/10.1016/j.jbankfin.2013.02.020">10.1016/j.jbankfin.2013.02.020</a>.'
  mla: Farruggio, Christian, et al. “The Light and Dark Side of TARP.” <i>Journal
    of Banking and Finance</i>, vol. 32, no. 5, 2013, pp. 2586–604, doi:<a href="https://doi.org/10.1016/j.jbankfin.2013.02.020">10.1016/j.jbankfin.2013.02.020</a>.
  short: C. Farruggio, T.C. Michalak, A. Uhde, Journal of Banking and Finance 32 (2013)
    2586–2604.
date_created: 2018-09-14T11:40:31Z
date_updated: 2023-01-10T09:37:43Z
department:
- _id: '186'
- _id: '188'
doi: 10.1016/j.jbankfin.2013.02.020
intvolume: '        32'
issue: '5'
jel:
- G14
- G21
- G28
keyword:
- Financial crisis
- TARP
- Market efficiency
- Event study
language:
- iso: eng
page: 2586-2604
publication: Journal of Banking and Finance
publication_status: published
status: public
title: The light and dark side of TARP
type: journal_article
user_id: '21810'
volume: 32
year: '2013'
...