๐”– Bobbio Scriptorium
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Managerial Compensation and the Market Reaction to Bank Loans

โœ Scribed by Almazan, A.

Book ID
126242155
Publisher
Oxford University Press
Year
2003
Tongue
English
Weight
167 KB
Volume
16
Category
Article
ISSN
0893-9454

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On May 19, 1987, Citicorp announced (after markets closed) that it would add $3 billion to its loan loss reserve in recognition of the poor quality of outstanding loans to Third World countries. Eleven other money-center banks followed this policy over the next five months. The reported reactions of