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Cited by 856Corporate Finance and GovernanceBanking stability, regulation, efficiencyFinancial Markets and Investment Strategies

Further evidence on the bank lending process and the capital market response to bank loan agreements

Lummer, Scott L., McConnell, John J.·1989·Journal of Financial Economics
DOI 10.1016/0304-405x(89)90098-6
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Crossref · 10.1016/0304-405x(89)90098-6

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1 of 1 references verified0 citation errors · 0 not checkable

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  • Announcements of bank loan commitments and similar credit facilities yield abnormal positive stock returns on average for the borrowing firms.

    “Studies found that announcements of bank loan commitments and similar credit facilities yield abnormal positive stock returns on average for the borrowing ®rms (Mikkelson and Partch, 1986;James, 1987;Lummer and McConnell, 1989;Billett et al., 1995).”

    From The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle (1998) · cites this paper as Lummer and McConnell, 1989

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Authors
Lummer, S. L., & McConnell, J. J.
Affiliations
Purdue University West Lafayette (US)
ORCID
McConnell, John J.
Venue
Journal of Financial Economics
Publisher
Elsevier BV
Published
1989-11
Volume
25
Issue
1
Pages
99-122
ISSN
0304-405X (ISSN-L)
DOI
10.1016/0304-405x(89)90098-6
OpenAlex
W2077907699
Cited by
856
References
1
Citations by year
2026: 4 · 2025: 17 · 2024: 16 · 2023: 21 · 2022: 11 · 2021: 25 · 2020: 18 · 2019: 22 · 2018: 28 · 2017: 29 · 2016: 22 · 2015: 28 · 2014: 39 · 2013: 28 · 2012: 36
FWCI
34.25
Type
journal article
Language
en
Open access
closed
Licence
www.elsevier.com/tdm/userlicense/1.0/ (tdm)
Locations
  • Journal of Financial Economics (publishedVersion)
  • RePEc: Research Papers in Economics (submittedVersion)
Topics
  • Social Sciences › Business, Management and Accounting › Accounting › Corporate Finance and Governance
  • Social Sciences › Economics, Econometrics and Finance › Finance › Banking stability, regulation, efficiency
  • Social Sciences › Economics, Econometrics and Finance › Finance › Financial Markets and Investment Strategies
Keywords
bank lending, capital market reaction, information transmission, loan renewal, excess stock returns, firm value

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