Kara, Alper; Marqués Ibáñez, David; Ongena, Steven - 2015
might be of lower credit quality than -- otherwise similar -- non-securitized loans. We assess the effect of securitization … activity on credit quality employing a uniquely detailed dataset from the euro-denominated syndicated loan market. We find that …, at issuance, banks do not select and securitize loans of lower credit quality. Following securitization, however, the …