search query: @author Park, S. / total: 23
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| Author: | Nabar, P. Park, S. Saunders, A. |
| Title: | Prime rate changes: is there an advantage in being first? |
| Journal: | Journal of Business
1993 : JAN, VOL. 66:1, p. 69-92 |
| Index terms: | CHANGE BUSINESS ECONOMICS FINANCE |
| Language: | eng |
| Abstract: | This article analyzes the impact of prime rate changes on the stock prices of prime rate change initiating banks relative to noninitiating banks. The prime rate as a "sticky price" is analyzed, and the potential directions (and sizes) of information effects are discussed and empirically examined. It is found that prime rate increases generally convey bad news about the initiating banks. Prime rate decreases, in contrast, have weakly positive effects on the initiating banks. |
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