than banks, but invest in the same loan facilities. In a sample of 20,031 leveraged loan facilities originated between 1997 … constraints and when capital is less available from banks …

We investigate whether the value of large banks, defined as banks with assets in excess of the Dodd-Frank threshold for …. Many argue that large banks receive subsidies from the regulatory safety net, so they should be worth more and their … valuation should increase with size. Instead, using a variety of approaches, we find (1) no evidence that large banks are valued …