A note on market response to corporate loan announcements in Canada

被引：28

作者：

Aintablian, S ^{[1
]}

Roberts, GS ^{[1
]}

机构：

[1] York Univ, Schulich Sch Business, N York, ON M3J 1P3, Canada

来源：

JOURNAL OF BANKING & FINANCE | 2000年 / 24卷 / 03期

关键词：

bank loans; monitoring; event study; Canada;

D O I：

10.1016/S0378-4266(99)00063-1

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This note validates the key results of prior studies of bank loan announcement effects using a common data set drawn from the Canadian capital market. Announcements of bank loans are associated with positive abnormal returns significantly higher than for private placements and loan syndications. Announcement effects are most pronounced when monitoring is most intense and when an announcement signals that the bank's private information is favorable. Conclusions of prior studies on bank loan announcements, conducted exclusively on US data, are robust for a different banking system. (C) 2000 Elsevier Science B.V. All rights reserved.

引用

页码：381 / 393

页数：13

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