Loan Rates and Collateral

We investigate the relation between corporate loan spreads and collateralization. We use propensity scoring to create a matched sample of pairs of loan facilities from the Dealscan database. We find that noncollateralized loans are associated with lower spreads even after controlling for risk. Copyright 2007, The Eastern Finance Association.

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Year of publication:	2007
Authors:	Gottesman, Aron A. ; Roberts, Gordon S.
Published in:	The Financial Review. - Eastern Finance Association - EFA. - Vol. 42.2007, 3, p. 401-427
Publisher:	Eastern Finance Association - EFA

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005306058