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On the Relation between Reschedulings and Bank Value

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Author Info
Ozler, Sule
Abstract

The effect of developing country loan reschedulings on large U.S. banks is investigated using an event study methodology. The major finding concerns the evolving nature of the impact of loan reschedulings. During 1978-80, reschedulings had a positive effect on bank returns, in contrast to the negative impact found for the 1981-83 period. An explanation for these results is provided by a model of the rescheduling process that recognizes the noncompetitive aspects of rescheduling negotiation. Copyright 1989 by American Economic Association.

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Publisher Info
Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 79 (1989)
Issue (Month): 5 (December)
Pages: 1117-31
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:aea:aecrev:v:79:y:1989:i:5:p:1117-31

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  1. Ozler, Sule & Huizinga, Harry, 1991. "How factors in creditor countries affect secondary market prices for developing country debt," Policy Research Working Paper Series 622, The World Bank. [Downloadable!]
  2. Osman Kilic & David Tufte & M. Hassan, 1999. "The 1994–1995 Mexican Currency Crisis and U.S. Bank Stock Returns," Journal of Financial Services Research, Springer, vol. 16(1), pages 47-60, September. [Downloadable!] (restricted)
  3. Oosterlinck Kim, 2004. "Why Do Investors Still Hope? The Soviet Repudiation Puzzle (1918- 1919)," Economic History 0409002, EconWPA. [Downloadable!]
    Other versions:
  4. Barrett, Christopher B., 1996. "The Economic And Ethical Ambiguities Of African Debt Forgiveness," Economics Research Institute, ERI Study Papers 28345, Utah State University, Economics Department. [Downloadable!]
  5. Gavin Cameron & Prasanna Gai & Kang Yong Tan, 2006. "Sovereign Risk In The Classical Gold Standard Era," CAMA Working Papers 2006-11, Australian National University, Centre for Applied Macroeconomic Analysis. [Downloadable!]
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  6. Sule Ozler & Guido Tabellini, 1991. "External Debt and Political Instability," NBER Working Papers 3772, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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