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We analyze the determinants of debt choices for Chinese firms between bonds and syndicated loans. This issue helps appraise the weak development of bond market in China. We test if flotation costs, asymmetries of information, and renegotiation and liquidation costs influence the choice of debt...
Persistent link: https://www.econbiz.de/10013118574
We analyze the determinants of debt choices for Chinese firms between bonds and syndicated loans. This issue helps appraising the weak development of bond market in China. We test if flotation costs, asymmetries of information, and renegotiation and liquidation costs, influence the choice of...
Persistent link: https://www.econbiz.de/10013105520
bank participation, suggesting that domestic banks are less cautious in their risk management …
Persistent link: https://www.econbiz.de/10013131997
model a lending relationship between a small firm and a monopolistic bank who decides the level of the interest rate. The … bankruptcy cannot be avoided under a severe legal environment. However, as the bank internalizes the rules of default, debt …
Persistent link: https://www.econbiz.de/10005404528
Persistent link: https://www.econbiz.de/10011339804
Persistent link: https://www.econbiz.de/10010237749
State-owned banks tend to increase lending before elections for the purpose of boosting the re-election odds of incumbent politicians. We employ monthly data on individual banks to study whether Russian banks increased their lending before presidential elections during 2004-2019, a period...
Persistent link: https://www.econbiz.de/10012182004
The aim of this paper is to analyze bank competition in Russia by measuring the market power of Russian banks and its … determinants over the period 2001-2007 with the Lerner index. Earlier studies on bank competition have focused on developed … countries whereas this paper contributes to the analysis of bank competition in emerging markets. We find that bank competition …
Persistent link: https://www.econbiz.de/10013146304
This paper examines how bank competition influences the bank lending channel in the Euro area countries. Using a large … policy actions depending on the degree of bank competition. We find that the effect of monetary policy on bank lending is … dependent on bank competition: the transmission of monetary policy through the bank lending channel is less pronounced for banks …
Persistent link: https://www.econbiz.de/10013035399
This work examines the impact of bank efficiency on the bank lending channel in China. Using a sample of 175 Chinese … bank's efficiency. While bank efficiency does not exert an impact on the effectiveness of monetary policy transmission … expansion of shadow banking activities has been associated with a positive impact of bank efficiency on monetary policy …
Persistent link: https://www.econbiz.de/10012431914