Lim, Jongha; Minton, Bernadette A.; Weisbach, Michael S. - In: Journal of Financial Economics 111 (2014) 1, pp. 45-69
bank-only facilities. Contrary to risk-based explanations of this finding, non-bank facilities are priced with premiums … relative to bank-only facilities in the same loan package. These non-bank premiums are substantially larger when a hedge or … loan facilities are particularly important to them, the non-bank premiums are larger when borrowing firms face financial …