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The evolution of China’s banking system: bank loan announcements 1996–2009 |
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| Authors: | Christopher Gan Yuan Zhang Zhaohua Li David A. Cohen |
| Affiliation: | 1. Department of Accounting, Economics and Finance, Faculty of Commerce, Lincoln University, PO Box 84, Canterbury, New Zealand;2. Department of Business Management, Law and Marketing, Faculty of Commerce, Lincoln University, PO Box 84, Canterbury, New Zealand |
| Abstract: | This study investigates China’s evolving banking systems from 1996 to 2009 by testing the market response to bank loan announcements in the China. The results show a significant negative market response to bank loan announcements in the Chinese financial market for the sample period 1996–2004. However, after a series of reforms in the Chinese banking system, the significantly negative market response to bank loan announcements disappears for the sample period 2005–2009. |
| Keywords: | Bank loan announcement Chinese banking system Market response Abnormal returns |