Wang Shujing, Professor of the School of Economics and Management, Tongji University, will give a lecture entitled “Bank Loan Announcement Effects—Evidence from a Comprehensive 8-K Sample” at 10:00 a.m. on Oct. 27.

The lecture will be hosted by the School of Finance, Renmin University of China (RUC). The lecture will be held in Room 515A in the Mingde Main Building and Xu Jing, Associate Professor of the School of Finance, RUC, will preside over the lecture.

Abstract: Using a comprehensive sample of over 10,000 bank loan announcements identified from 8 K filings, we show that bank loan financing continues to convey valuable private information as the regulatory environment changes over time. The insignificant wealth effect of bank loan announcements documented in several early studies is potentially driven by small sample size or less important loans announced in the news. New evidence suggests that the positive announcement effect is stronger for deals with higher materiality, more favorable pricing, larger lead bank shares, and higher syndicate concentration, when lenders have higher credit quality, and when credit market conditions are worse.

Introduction: Wang Shujing is a Professor of the Department of Economics and Finance, School of Economics and Management, Tongji University. She received her Ph.D. in Finance from Hong Kong University of Science and Technology in 2015. Her research focuses on asset pricing and technology finance. Her research results have been published on academic journals including Management Science , Journal of Banking and Finance , Journal of Empirical Finance and so on.