We investigate the impact of bank loan announcements on borrower value during the recent boom and bust cycle of the 2000s using a sample of 253 large loans to French borrowers. We find a significant and negative stock market reaction to bank loan announcements during the Global Financial Crisis....

This paper connects three subjects related to international financial markets – (i) information asymmetry, (ii) market segmentation, and (iii) cross-listings – and highlights their implication for event study methodology. When firms list equities on more than one exchange, and the exchanges...

It is well-known that government plays an important role in the business activities of Chinese firms. Less certain is the effect this influence has on the wealth of those firms’ shareholders. We contribute to the literature by analyzing stock market reactions to announcements by Chinese firms...

This paper investigates stock market reaction to debt arrangements in Russia. The analysis of the valuation of debt arrangements by stock markets provides information about the use of debt by Russian companies. We apply the event study methodology to check whether debt announcements lead to...

This paper investigates stock market reaction to debt arrangements in Russia. The analysis of the valuation of debt arrangements by stock markets provides information about the use of debt by Russian companies. We apply the event study methodology to check whether debt announcements lead to...

This paper investigates stock market reaction to debt arrangements in Russia. The analysis of the valuation of debt arrangements by stock markets provides information about the use of debt by Russian companies. We apply the event study methodology to check whether debt announcements lead to...