Bhardwaj, Abhishek; Ge, Shan; Mukherjee, Saptarshi - 2023
The collateralized loan obligation (CLO) market has grown drastically, with the amount outstanding rising from $100 Billion in 2005 to $650 Billion in 2020. We examine the effect of investors' demand on new CLO deal formation as well as on corporate borrowing and investment. We do so by using...