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In this study, we investigate the effects of bank safety-oriented culture on loan contracts. We propose a new measure … that derives a bank’s safety-oriented culture from its business model. We provide several validation tests to confirm that …
Persistent link: https://www.econbiz.de/10013222539
increase in firm borrowing costs is mitigated in the presence of previous bank-firm lending relationships and for borrowers …
Persistent link: https://www.econbiz.de/10015218341
We examine the effect of firm credit rating downgrades on the pricing and structure of syndicated bank loans following … bounded firms’ bank financing costs. …
Persistent link: https://www.econbiz.de/10015218408
increase in firm borrowing costs is mitigated in the presence of previous bank-firm lending relationships and for borrowers …
Persistent link: https://www.econbiz.de/10015237118
increase in firm borrowing costs is mitigated in the presence of previous bank-firm lending relationships and for borrowers …
Persistent link: https://www.econbiz.de/10015239323
Do closer political ties with a global superpower improve sovereign borrowing conditions? We use data on voting at the United Nations General Assembly along with foreign aid flows to construct an index of political ties and find evidence that suggests closer political ties leads to both better...
Persistent link: https://www.econbiz.de/10012148378
Better developed legal and political institutions result in greater availability of reliable firm-specific information. When stock prices reflect more firm-specific information there will be less stock price synchronicity. This paper traces the experience of China, an economy undergoing dramatic...
Persistent link: https://www.econbiz.de/10012148706
Better developed legal and political institutions result in greater availability of reliable firm-specific information. When stock prices reflect more firm-specific information there will be less stock price synchronicity. This paper traces the experience of China, an economy undergoing dramatic...
Persistent link: https://www.econbiz.de/10011267943
This study evaluates whether and how relationships influence acquirers’ choice of financial advisors in mergers and acquisitions (M&As). Specifically, it examines how acquirers’ relationships with their advisors, including their optimism of analyst recommendations and the outcome of their...
Persistent link: https://www.econbiz.de/10010777159
Using a sample of U.S. mergers and acquisitions, this study evaluates how banking relationships influence acquirers’ choice of financial advisors. Specifically, it examines: i) acquirers’ previous relationships with advisors in various financial activities: M&A advisories, equity issuings...
Persistent link: https://www.econbiz.de/10010584390