effect (working via firm's leverage) and, secondarily, a credit supply effect (working via bank market power and bank capital … loans. We find an asymmetric effect on the cost of credit: loan spreads decrease by approximately 5.9 basis points in …

concentrating their lending disproportionately into one industry. This specialization improves a bank’s industry-specific knowledge … and, ultimately, bank performance. Banks concentrate more on their primary industry in times of instability and relatively …

that: (1) fees are used to price options embedded in loan contracts such as the drawdown option for credit lines and the …

This paper investigates whether monitoring by bank lenders affects CEO incentives of borrowing firms. We find that an … increase in bank monitoring incentives significantly reduce the sensitivity of CEO wealth to stock return volatility (Vega …). The results are more profound when bank lenders are more powerful and reputable and have a prior lending relationship with …

information provided to the bank by the firm, as part of the bank's internal credit rating system and the provision of soft …We examine the impact on a firm when it is exogenously forced to switch its bank relationship from one branch to … another branch of the same bank. We show the effect depends directly on the relative balance between the hard accounting …

nor to observable firm characteristics at the initiation of the new loan, such as for example credit risk. It also does …

concentrating their lending disproportionately into one industry. This specialization improves a bank's industry-specific knowledge … and, ultimately, bank performance. Banks concentrate more on their primary industry in times of instability and relatively …