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Credit Information Sharing and Stock Price Crash Risk : The Role of Information Asymmetry and Bank Regulations
Teeranutranont, Chanon - 2018
This paper attempts to investigate the impact of credit information sharing on bank-specific stock price crash risk …. Using a sample of 1,402 listed-banks in 55 countries for the period 2005-2013, we show that credit information sharing … through public credit registries is negatively associated with future crash risk after controlling for other predictors of …
Persistent link: https://www.econbiz.de/10012926760
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Bank Loan Announcement Effects — Evidence from a Comprehensive 8-K Sample
Chen, Shuyue - 2020
Using a comprehensive sample of over 10,000 bank loan announcements, we find results that differ from the findings of Maskara and Mullineaux (JFE 2011) and also that of Fields et al (JMCB 2006), which indicated that announcement effect of bank loans on borrower stocks disappeared as of late. We...
Persistent link: https://www.econbiz.de/10012846962
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The Option Market Reaction to Bank Loan Announcements
Anagnostopoulou, Seraina C. - 2019
announcements. Our findings appear to be more pronounced for firms with more information asymmetry, lower credit ratings and loans …
Persistent link: https://www.econbiz.de/10012903492
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Bank Loan Announcements and Market Discipline
Magalhaes, Romulo - 2014
This study examines empirically the bank stocks price reactions to loan announcements. Using a sample of 1,354 announcements of loans made by 119 banks located in 35 countries during the period 1998-2006, we find significant abnormal bank stock returns on the days surrounding a bank loan...
Persistent link: https://www.econbiz.de/10013067285
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The Impact of Government Intervention in Banks on Corporate Borrowers’ Stock Returns
Norden, Lars - 2017
Moving into and out of a financial and banking crisis is likely to be associated with spillover effects from the banking sector to the corporate sector. We investigate whether and how government interventions in the U.S. banking sector influence the stock market performance of corporate...
Persistent link: https://www.econbiz.de/10012975392
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Bank Credit, Asset Prices and Financial Stability : Evidence from French Banks
Pouvelle, Cyril - 2012
This paper analyses the effect of asset prices on credit growth in France and tries to disentangle credit demand and … period, but without credit supply factors being singled out. By contrast, housing price growth has a significant effect … during periods of financial instability only, even after controlling for credit demand effects. These results show that …
Persistent link: https://www.econbiz.de/10013101520
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Stock Price Fragility and the Cost of Bank Loans
Francis, Bill - 2020
This study examines whether the flow volatility experienced by institutional investors affects firms' financing costs. Using Greenwood and Thesmar's (2011) stock price fragility, a proxy for firm exposure to its institutional investors' flow volatility, we find that firms with high stock price...
Persistent link: https://www.econbiz.de/10012838891
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Bank Credit Tightening, Debt Market Frictions and Corporate Yield Spreads
Massa, Massimo - 2014
We study how debt market frictions that constrain the ability of firms to buffer a tightening in bank credit supply … spreads as bank credit tightens. The impact is stronger among smaller firms, lower rated firms, and firms relying more on bank …
Persistent link: https://www.econbiz.de/10013048022
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Bank loan information and information asymmetry in the stock market : evidence from China
Ye, Yanyi; Wang, Yun; Yang, Xiaoguang - In: Financial innovation : FIN 8 (2022), pp. 1-28
sensitivity tests and provide suggestive evidence of a close connection between the credit loan and stock markets. …
Persistent link: https://www.econbiz.de/10013272640
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By the Light of Day : The Effect of the Switch to Winter Time on Stock Markets
Mugerman, Yevgeny - 2019
We studied the effect of the end of Daylight Saving Time (DST) on stock markets around the globe. Using a detailed cross-country daily returns data set we found that (a) market returns on the day following the clock shift were significantly lower than the corresponding day of a week unaffected...
Persistent link: https://www.econbiz.de/10012898101