Purpose – The purpose of this paper is to examine the effects of borrowers' quality on the size of market reaction to bank loan announcements in the Chinese financial market, where poor quality borrowers are prevalent and the banking system is highly controlled by the Chinese...

This research extends the study of Boscaljon and Ho and test the effect of market response to bank loan announcement in the Hong Kong banking market after the 1997 Asian crisis. The study also investigates whether bank is still ‘special' in the financial market by comparing the market response...

This study applied the Fama-French three-factor model (1993) and CAPM to examine A-shares in Chinese equity market from 1996 to 2005. The authors find a positive relation between book-to-market ratio and stock excess returns, and negative between size and stock excess returns. The results...