题  目：Bank Loan Announcement Effects—Evidence from aComprehensive 8-K Sample

报告人：王姝晶博士同济大学经济与管理学院副教授

时  间：2021.11.24 14:00-15:00

地  点：经管学院 335

Abstract：Using a comprehensive sample of over 10,000bank loan announcements identified from 8-K filings during 1994-2018, we showthat the positive announcement effect of bank loans has not disappeared overtime. The positive announcement effect is stronger when deals are moreimportant and reveal positive news about firms' financial conditions, whenlenders have higher credit ratings, and when the credit market condition istight. The results are robust after adjusting the differences of borrower sizedistributions between announced and unannounced loans. Our findings suggestthat lenders convey private information about firm value to the market throughthe announcements of loan terms.

王姝晶博士现任同济大学经济与管理学院副教授，博士生导师。她于2015年获得香港科技大学金融学博士学位。在此之前，她获得北京大学物理化学学士学位和美国罗切斯特大学物理化学博士学位。她曾入选上海市浦江人才计划，上海市青年东方学者，主持自然科学基金青年项目。

她的研究领域主要集中在资产定价的理论和实证研究。她的研究方向涉及股票、债券、期权以及信用衍生品的定价。近年来，她对中国金融市场和科技金融领域也进行了广泛深入的研究。她的研究发表在国际国内一流期刊上，包含Management Science （2篇）, Journal of Banking and Finance, Journal of Empirical Finance,《管理科学学报》,《中国工业经济》,《金融研究》等。