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The impact of U.S. bank loan announcements on the stock prices of the corporate borrowers has been decreasing during … jump back up to around 200 basis points. We surmise that in a booming credit market the certification of corporate …
Persistent link: https://www.econbiz.de/10010412303
volatility, we find that firms with high stock price fragility pay higher bank loan costs than firms with low fragility. This …
Persistent link: https://www.econbiz.de/10012838891
In this study, we use bank loan information to construct proxies for corporate transparency and examine whether these … bank loans of all publicly listed firms on the Shenzhen Stock Exchange, covering January 2008 to June 2013. We find that … sensitivity tests and provide suggestive evidence of a close connection between the credit loan and stock markets. …
Persistent link: https://www.econbiz.de/10013272640
Using U.S. quarterly data from 1960, the paper studies the interaction between bank stock returns and aggregate credit …) illustrates that a contractionary-type monetary policy action decreases bank returns more when the economy had experienced credit … fluctuations on a set of economic dimensions. First, I investigate the source of "Neglected Crash Risk" in U.S. bank returns using …
Persistent link: https://www.econbiz.de/10012861958
This paper examines what institutional and bank-specific factors determine bank stock price synchronicity. Using data … on 37 countries from 1996–2007, we find that bank stocks are more aligned with the whole market during the financial … crisis; in countries that have more credit provided by banks; in countries that do not have explicit depository insurance …
Persistent link: https://www.econbiz.de/10013104217
This paper examines what institutional and bank-specific factors determine bank stock price synchronicity. Using data … on 37 countries from 1996-2007, we find that bank stocks are more aligned with the whole market (1) during the financial … crisis; (2) in countries that have more credit provided by banks; (3) in countries that do not have explicit depository …
Persistent link: https://www.econbiz.de/10012981203
This paper analyses the effect of asset prices on credit growth in France and tries to disentangle credit demand and … supply factors, both for the whole 1993-2010 period and during periods of financial instability. Using bank-level panel data … period, but without credit supply factors being singled out. By contrast, housing price growth has a significant effect …
Persistent link: https://www.econbiz.de/10014396650
second article studies the effect of targeted longer-term refinancing operations on bank lending. The results suggest that … these targeted operations stimulated bank lending to firms. However, no evidence about a positive effect on lending to …
Persistent link: https://www.econbiz.de/10013207407
bank lending is consistently associated with positive long-term outcomes-newly public firms that borrow experience …
Persistent link: https://www.econbiz.de/10010345095
' assessments of firms' credit quality and economic worth following loan announcements. Our sample comprises 986 announcements of … bank loans to U.S. firms over the period of 1980-2003. We find that investors react positively to such announcements if the …'s headquarters state. Investor reaction is, in fact, the largest when the bank is foreign. Our evidence suggest that investors value …
Persistent link: https://www.econbiz.de/10013098445