讲座题目:Bank Loan Announcement Effects—Evidence from a Comprehensive 8-K Sample
讲座时间:2023年12月5日(周二)15:00-16:00
讲座地点:明德楼1101会议室
主讲嘉宾:王姝晶教授 同济大学经济与管理学院
主讲嘉宾简介:
王姝晶博士现任同济大学经济与管理学院教授,博士生导师。她获得香港科技大学金融学博士学位。在此之前,她获得北京大学物理化学学士学位和美国罗切斯特大学物理化学博士学位。她曾入选国家级特殊人才支持计划哲学社会科学青年拔尖人才,上海市青年东方学者,上海市浦江人才计划,主持国家自然科学基金青年项目和面上项目。
她的研究领域主要集中在资产定价和科技金融。她的研究发表在国际国内一流期刊上,包含Management Science, Journal of Banking and Finance, Journal of Empirical Finance,《管理科学学报》,《中国工业经济》,《金融研究》等。讲座主要内容:
Using a comprehensive sample of over 10,000 bank loan announcements identified from 8 K filings, we show that bank loan financing continues to convey valuable private information as the regulatory environment changes over time. The insignificant wealth effect of bank loan announcements documented in several early studies is potentially driven by small sample size or less important loans announced in the news. New evidence suggests that the positive announcement effect is stronger for deals with higher materiality, more favorable pricing, larger lead bank shares, and higher syndicate concentration, when lenders have higher credit quality, and when credit market conditions are worse.
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