The Relationship between the Argentinean Debt Rescheduling Announcement and Bank Equity Returns |
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| Authors: | Iqbal Mansur Steven J. Cochran David K. Seagers |
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| Affiliation: | Widener University, Chester, PA 19013.;Villanova University, Villanova, PA 19087.;Provident National Bank, Philadelphia, PA 19101. All views expressed in this paper are those of the authors and do not represent the views of the Provident National Bank. |
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| Abstract: | This study examines the effects of the Argentinean debt rescheduling announcement on the equity return levels of several large U.S. commercial banks. The empirical evidence suggests that the equity prices of sample banks immediately reflected the relevant information associated with the announcement. However, the market was unable to discriminate among banks on the basis of exposure to Argentinean loans. |
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