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History of the World Largest Financial Losses in 1972-2018

Author

Listed:
  • Henry I. Penikas

    (International Laboratory of Decision Choice and Analysis, National Research University Higher School of Economics.)

  • Mikhail A. Surkov

    (International Laboratory of Decision Choice and Analysis, National Research University Higher School of Economics.)

Abstract

Deregulation is often claimed to be the cause for financial distress. Thus it has to lead to financial defaults and losses. However, exact dependence is not clear. To verify it we tried to investigate the roots of world largest financial losses. As we found no source to extensively and completely cover those, we decided to prepare a data set of our own. By choosing a round threshold of USD 100m equivalent of loss amount as of announcement date, we arrived at the set of 117 defaults with total loss of USD 914bn in 46 years. Our key purpose is to make comprehend data set of largest losses.

Suggested Citation

  • Henry I. Penikas & Mikhail A. Surkov, 2018. "History of the World Largest Financial Losses in 1972-2018," DEM Working Papers Series 166, University of Pavia, Department of Economics and Management.
    • Handle: RePEc:pav:demwpp:demwp0166
    as

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    File URL: http://dem-web.unipv.it/web/docs/dipeco/quad/ps/RePEc/pav/demwpp/DEMWP0166.pdf
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    References listed on IDEAS

    as
    1. Charles W. Calomiris & Stephen H. Haber, 2015. "Fragile by Design: The Political Origins of Banking Crises and Scarce Credit," Economics Books, Princeton University Press, edition 1, number 10177-2.
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    4. Goodhart,Charles, 2011. "The Basel Committee on Banking Supervision," Cambridge Books, Cambridge University Press, number 9781107007239, September.
    5. Zuzana Fungáčová & Laurent Weill, 2013. "Does competition influence bank failures?," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 21(2), pages 301-322, April.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Bankruptcy; bank default; failure; loss-to-assets; risk; market risk;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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