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| Tekijä: | Cushing, W. Jr |
| Otsikko: | Canadian bank stock reaction to the citicorp loan loss announcement of may,1987. |
| Lehti: | Managerial Finance
1994 : VOL. 20:4, p. 38-46 |
| Asiasana: | CANADA BANKING LOANS |
| Kieli: | eng |
| Tiivistelmä: | This study examines the price behavior of a sample of Canadian bank stocks surrounding the announcement by Citicorp of a large increase in their provision for loan losses induced by their exposure to debt of lesser developed countries in general and their exposure to Brazilian debt in particular. Both the US and Canadian reactions were positive but the magnitude of the Canadian abnormal returns was higher than the US. Both responses differ from the UK negative reaction. |
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