This paper investigates important contemporary issues relating to hedge fund involvement in the syndicated loan market. In particular, we investigate the potential conflicts of interest that arise because of the absence of regulations relating to hedge funds' dual holdings of loans and short...

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 information provided to the bank by the firm, as part of the...

This paper investigates recent allegations regarding the misuse of private insider information by hedge funds prior to the public announcement of M&A deals. We analyze this issue by using a unique and comprehensive dataset which allows us to analyze the trading pattern of hedge funds around...

This paper investigates important contemporary issues relating to hedge fund involvement in the syndicated loan market. In particular, we investigate the potential conflicts of interest that arise due to the lack of regulation relating to hedge funds permissible dual holding of loans and...

Using highly detailed data on the loan portfolios of large U.S. banks, we document that these banks "specialize" by concentrating their lending disproportionately into one industry. This specialization improves a bank’s industry-specific knowledge and allows it to offer generous loan terms to...

We consider loans being marked to market to constitute information about borrowing firms' profitability and risk only immediately available to large institutional traders, so-called qualified institutional buyers (QIBs). Smaller investors, so-called non-QIBs, do not have immediate access to such...