Reaction of bank stock prices to loan-loss reserve announcements

被引：0
|
作者：
Docking D.S. [1 ]
Hirschey M. [2 ]
Jones E. [3 ]
机构：
[1] College of Business, Northern Illinois University, De Kalb
[2] School of Business, University of Kansas, Lawrence
[3] Department of Economics and Finance, Harmon College of Business Administration, Central Missouri State University, Warrensburg
来源：
Review of Quantitative Finance and Accounting | 2000年 / 15卷 / 3期
关键词：
Bank soundness; Information; Loan loss reserves; Valuation;
D O I：
10.1023/A:1008376007492
中图分类号：
学科分类号：
摘要：
Significant own and contagious stock-price effects of bank LLR announcements exist despite the fact that these accounting adjustments have no concurrent cash-flow implications. Consistent with expected information effects, negative abnormal returns surrounding LLR announcements tend to be much more important in the case of regional as opposed to money-center banks. Accounting measures of bank soundness, and possibly regulatory pressure, appear to influence the market's assessment of LLR information for both announcing and nonannouncing banks. © 2000 Kluwer Academic Publishers.
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页码：277 / 297
页数：20
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