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Corporate capital structure and firm value : international evidence on the special roles of bank debt

Berger, Allen N.; El Ghoul, Sadok; Guedhami, Omrane; … - In: Review of corporate finance 1 (2021) 1/2, pp. 1-41

Persistent link: https://www.econbiz.de/10013457317

Corporate Capital Structure and Firm Value : International Evidence on the Special Roles of Bank Debt

Berger, Allen N.; El Ghoul, Sadok; Guedhami, Omrane; … - 2021

We contribute to the corporate capital structure and bank specialness literatures by studying the effects of bank debt … observations. We find that bank term loans and credit lines are strongly positively associated with firm value, but only when … employed very intensively—at 90% or more of total corporate debt. These effects are consistent with bank specialness at high …

Persistent link: https://www.econbiz.de/10013251019

Inside the Black Box: What Explains Differences in the Efficiencies of Financial Institutions?

Berger, Allen N.; Mester, Loretta J. - Financial Institutions Center, Wharton School of Business - 1997

method, and a number of bank, market, and regulatory characteristics. We review the existing literature and provide new …

Persistent link: https://www.econbiz.de/10005838135

Does function follow organizational form? Evidence from the lending practices of large and small banks

Berger, Allen N.; Miller, Nathan H.; Petersen, Mitchell A. - 2001

Persistent link: https://www.econbiz.de/10010276784

What Explains the Dramatic Changes in Cost and Profit Performance of the U.S. Banking Industry?

Berger, Allen N.; Mester, Loretta J. - Financial Institutions Center, Wharton School of Business - 1999

We investigate the sources of recent changes in the performance of U.S. banks using concepts and techniques borrowed from the cross-section efficiency literature. Our most striking result is that during 1991-1997, cost productivity worsened while profit productivity improved substantially,...

Persistent link: https://www.econbiz.de/10005794283