The effects of the Norwegian banking crisis on Norwegian equities

Journal of Multinational Financial Management

Volumn 7, Issue 2, 1997, Pages 83-111

  Kaen, Fred R ^a   Michalsen, Dag ^b  

^a UNIVERSITY OF NEW HAMPSHIRE   (United States)

^b BI NORWEGIAN BUSINESS SCHOOL   (Norway)

Author keywords

Bank failures; Norwegian financial markets

Indexed keywords

EID: 0031161650     PISSN: 1042444X     EISSN: None     Source Type: Journal    
DOI: 10.1016/s1042-444x(97)00007-8     Document Type: Article

References (24)

1. Aharony, J, Swary, I., 1983. Contagion effects of bank failures: evidence from capital markets. Journal of Business 56, 305-322.
2. Bruner, R., Sims, J.M., 1987. The international debt crisis and bank security returns in 1982. Journal of Money, Banking and Credit 19, 46-55.
3. Cornell, B., Shapiro, A.C., 1986. The reaction of bank stock prices to the international debt crisis. Journal of Banking and Finance 10, 55-73.
4. Gilbert, R.A., 1990. Market discipline of bank risk: theory and evidence. Federal Reserve Bank of St. Louis Review, January/February, 3-18.
5. Holthausen, R.W., Leftwich, R.W., 1986. The effect of bond rating changes on common stock prices. Journal of Financial Economics 17, 57-89.
6. Jonassen, M., 1992. The crisis in the Norwegian financial industry - action taken in 1991. Norges Bank Economic Bulletin 1/92, 44-53.
7. Kaen, F.R., Tehranian, H., 1990. Information effects in financial distress: the case of Seabrook Station. Journal of Financial Economics 26, 143-171.
8. Karafiath, I., Mynatt, R., Smith, K.L., 1991. The Brazilian default announcement and the contagion effect hypothesis. Journal of Banking and Finance 15, 699-716.
9. Lang, L.H.P., Stulz, R.M., 1992. Contagion and competitive ultra-industry effects of bankruptcy announcements. Journal of Financial Economics 32, 45-60.
10. Madura, J., White, A.M., McDaniel, W.R., 1991. Reaction of British bank share prices to Citicorp's announced $3bn increase in loan-loss reserves. Journal of Banking and Finance 15, 151-163.
11. Meehan, J.W. Jr, Peek, J., Rosengren, E.S., 1993. Business failures in New England. New England Economic Review, November/December, 33-44.
12. Musumeci, J.J., Sinkey, J.F. Jr, 1990a. The international debt crisis, investor contagion, and bank security returns in 1987: the Brazilian experience. Journal of Money, Credit and Banking 22, 209-220.
13. Musumeci, J.J., Sinkey, J.F., Jr, 1990b. The international debt crisis and bank loan loss reserve decisions: the signaling content of partially anticipated events. Journal of Money, Credit and Banking 22, 370-387.
14. Peavy, J.W., Hempel, G.H., 1988. The Penn Square bank failure. Journal of Banking and Finance 12, 141-150.
15. Randall, R.E., 1989. Can the market evaluate asset quality exposure in banks? New England Economic Review, July/August, 3-24.
16. Report by the Commission on the Banking Crisis, 1992. Norwegian Official Reports. NOR 1992, 30E.
17. Skånland, H., 1992. Norway's banking sector and economy: current situation and outlook. Norges Bank Economic Bulletin 2/92, 135-141.
18. Slovin, M.B., Sushka, M.E., Polonchek, J.A., 1993. The value of bank durability: borrowers as bank stakeholders. Journal of Finance 48, 247-266.
19. Simons, K., Cross, S., 1991. Do capital markets predict problems in large commercial banks? New England Economic Review, May/June, 51-56.
20. Smirlock, M., Kaufold, H., 1987. Bank foreign lending, mandatory disclosure rules, and the reaction of bank stock prices to the Mexican debt crisis. Journal of Business 60, 347-364.
21. Smith, S.D., Wall, L., 1992. Financial panics, bank failures, and the role of regulatory policy. Economic Review Federal Reserve Bank of Atlanta 77, 1-11.
22. Solheim, J.A., 1990. The Norwegian experience with financial liberalization and banking problems. Norges Bank Economic Bulletin 3/90, 185-197.
23. Swary, I., 1986. Stock market reaction to regulatory action in the Continental Illinois crisis. Journal of Business 59, 451-473.
24. Wall, L.D., Peterson, D.R., 1990. The effect of Continental Illinois' failure on the financial performance of other banks. Journal of Monetary Economics 26, 77-99.