Lin, Chen; Ma, Yue; Malatesta, Paul; Xuan, Yuhai - In: Journal of Financial Economics 104 (2012) 1, pp. 1-22
Using a novel data set on corporate ownership and control, we show that the divergence between the control rights and cash-flow rights of a borrowing firm's largest ultimate owner has a significant impact on the concentration and composition of the firm's loan syndicate. When the...