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Persistent link: https://www.econbiz.de/10010724356
This paper examines how legal risk, defined as the strength of creditor rights and legal enforcement, affects debt ownership concentration in the project finance loan market. Using a sample of 495 project finance loan tranches from 61 countries, worth $151 billion, we document high levels of...
Persistent link: https://www.econbiz.de/10010723912
This paper examines how legal risk, defined as the strength of creditor rights and legal enforcement, affects debt ownership concentration in the project finance loan market. Using a sample of 495 project finance loan tranches from 61 countries, worth $151 billion, we document high levels of...
Persistent link: https://www.econbiz.de/10005519420