An empirical analysis of the effects of market response to bank loan announcements in Hong Kong stock market

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dc.contributor.authorQing, C
dc.contributor.authorGan, C
dc.contributor.authorLi, Zhaohua
dc.date.accessioned2011-11-30T21:29:28Z
dc.date.available2011-05-18
dc.date.issued2011-06
dc.description.abstractThis research extends the study of Boscaljon and Ho and test the effect of market response to bank loan announcement in the Hong Kong banking market after the 1997 Asian crisis. The study also investigates whether bank is still special in the financial market by comparing the market response to bank loan announcement and non-bank loan announcement. Finally, the study examines how loan characteristics influence the market response to bank loan announcement. The main findings of our study are consistent with the previous results documented for the US, Canada and Hong Kong markets, and further confirm the uniqueness of banks in the financial market. Moreover, we find that market response is significant positively related to borrower's debt ratio, and there is also a strong evidence of information leakage problem for non-bank loan announcements in the Hong Kong stock market.
dc.format.extentpp.210-226
dc.identifierhttps://www.webofscience.com/api/gateway?GWVersion=2&SrcApp=elements_prod&SrcAuth=WosAPI&KeyUT=WOS:000213046000002&DestLinkType=FullRecord&DestApp=WOS_CPL
dc.identifier.citationChen, Q., Gan, C., & Li, Z. (2011). An empirical analysis of the effects of market response to bank loan announcements in Hong Kong Stock Market. Journal of Banking Regulation, 12, 210–226. doi:10.1057/jbr.2011.6
dc.identifier.doi10.1057/jbr.2011.6
dc.identifier.eissn1750-2071
dc.identifier.issn1745-6452
dc.identifier.otherV93EZ (isidoc)
dc.identifier.urihttps://hdl.handle.net/10182/4067
dc.language.isoen
dc.publisherMacMillan Publishers Ltd
dc.relationThe original publication is available from MacMillan Publishers Ltd - https://doi.org/10.1057/jbr.2011.6 - https://link.springer.com/article/10.1057/jbr.2011.6
dc.relation.isPartOfJournal of Banking Regulation
dc.relation.urihttps://doi.org/10.1057/jbr.2011.6
dc.rightsCopyright © 2011 Palgrave Macmillan
dc.subjectbank loan announcements
dc.subjectabnormal returns
dc.subjectevent studies
dc.subjectinformation assymmetry
dc.subject.anzsrcANZSRC::1502 Banking, Finance and Investment
dc.subject.anzsrc2020ANZSRC::3501 Accounting, auditing and accountability
dc.subject.anzsrc2020ANZSRC::3502 Banking, finance and investment
dc.subject.anzsrc2020ANZSRC::4803 International and comparative law
dc.titleAn empirical analysis of the effects of market response to bank loan announcements in Hong Kong stock market
dc.typeJournal Article
lu.contributor.unitLU
lu.contributor.unitLU|Faculty of Agribusiness and Commerce
lu.contributor.unitLU|Faculty of Agribusiness and Commerce|FABS
lu.contributor.unitLU|Research Management Office
lu.contributor.unitLU|Research Management Office|OLD QE18
lu.contributor.unitLU|Research Management Office|OLD PE20
lu.identifier.orcid0000-0002-4732-7997
pubs.issue3
pubs.publication-statusPublished
pubs.publisher-urlhttps://link.springer.com/article/10.1057/jbr.2011.6
pubs.volume12
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