The importance of bank seniority for relationship lending

The authors examine two aspects of a bank's interaction with its borrowers--the relative priority of bank debt and the role of banks as "relationship lenders." They show that making the bank senior improves its incentives to build a relationship with the firm, thereby fulfilling an important function of intermediated debt.

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Year of publication:	1998
Authors:	Longhofer, Stanley D. ; Santos, João A.C.
Institutions:	Federal Reserve Bank of Cleveland
Subject:	Bank loans

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Extent:	application/pdf
Series:	Working Paper.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 9808
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005428409