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The total costs of corporate borrowing in the loan market : don’t ignore the fees
Berg, Tobias; Saunders, Anthony; Steffen, Sascha - 2016
evidence that: (1) fees are used to price options embedded in loan contracts such as the draw-down option for credit lines and … the cancellation option in term loans; and (2) fees are used to screen borrowers about the likelihood of exercising these …
Persistent link: https://www.econbiz.de/10011436292
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The total costs of corporate borrowing in the loan market : don't ignore the fees
Berg, Tobias; Saunders, Anthony; Steffen, Sascha - 2015
evidence that: (1) fees are used to Price options embedded in loan contracts such as the draw-down option for credit lines and … the cancellation option in term loans; and (2) fees are used to screen borrowers about the likelihood of exercising these …
Persistent link: https://www.econbiz.de/10010480935
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Forced Bank Relationship Loss : Accounting Information Opacity and Loan Conditions
Xu, Yuqian - 2019
We examine the impact on a firm when it is exogenously forced to switch its bank relationship from one branch to another branch of the same bank. We show the effect depends directly on the relative balance between the hard accounting information provided to the bank by the firm, as part of the...
Persistent link: https://www.econbiz.de/10012901734
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The Total Costs of Corporate Borrowing in the Loan Market : Don't Ignore the Fees
Berg, Tobias - 2018
evidence that: (1) fees are used to price options embedded in loan contracts such as the draw-down option for credit lines and … the cancellation option in term loans; and (2) fees are used to screen borrowers about the likelihood of exercising these …
Persistent link: https://www.econbiz.de/10012936283
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The Total Cost of Corporate Borrowing in the Loan Market : Don't Ignore the Fees
Berg, Tobias - 2015
that: (1) fees are used to price options embedded in loan contracts such as the drawdown option for credit lines and the … cancellation option in term loans, and (2) fees are used to screen borrowers based on the likelihood of exercising these options …
Persistent link: https://www.econbiz.de/10013036334
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Covenant Violations, Loan Contracting, and Default Risk of Bank Borrowers
Saunders, Anthony - 2013
Are borrowers rewarded for repaying their loans? This paper investigates the consequences of covenant violations on subsequent loans to the same borrower using a hand-collected sample of US syndicated loans during the 1996 to 2010 period. We find that covenant violations have substantial...
Persistent link: https://www.econbiz.de/10013080012