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Bank lending relationships and the use of performance-sensitive debt

Adam, Tim R.; Streitz, Daniel - 2013

We show that performance-sensitive debt (PSD) is used to reduce hold-up problems in repeated lending relationships. Using a large sample of bank loans, we find a more frequent use of PSD if hold-up is more likely, e.g. if a longterm lending relationship exists and the borrower has fewer outside...

Persistent link: https://www.econbiz.de/10009743069

Financing investment: the choice between bonds and bank loans

Morellec, Erwan; Valta, Philip; Zhdanov, Alexei - 2014

bargaining power in default, operating in more competitive product markets, and facing lower credit supply are more likely to …

Persistent link: https://www.econbiz.de/10010258730

How successful are banking sector reforms in emerging market economies? : evidence from impact of monetary policy on levels and structures of firm debt in India

Bhaumik, Sumon Kumar; Kutan, Ali Mustafa; Majumdar, Sudipa - 2016

that well-functioning credit markets would reflect a bank channel for monetary policy at work, we test whether a change in … and the associated change in interest rate does not affect change in bank credit, change in total debt and the proportion … of bank credit in total debt for any of the firms. We discuss the policy implications of the findings. …

Persistent link: https://www.econbiz.de/10011493763

Concentration in Corporate Bank Loans - What Do We Learn from European Comparisons?

Godlewski, Christophe J. - 2009

The aim of this paper is to empirically investigate the determinants of creditor concentration in the use of bank loans by firms in a European cross-country framework. We analyze the influence of loan and borrower characteristics but also banking market structure and legal enforcement variables...

Persistent link: https://www.econbiz.de/10013157547

International Bank Lending and Corporate Debt Structure

Serena, José María - 2020

) in 2011. We find that US firms experience a reduction in credit lines but not in term loans from EU banks. In addition …, US firms are able to compensate for the reduction in credit lines from EU banks by securing liquidity facilities from US …

Persistent link: https://www.econbiz.de/10012836875

The impact of capital ratio on lending of EU banks - the role of bank specialization and capitalization

Olszak, Małgorzata; Pipień, Mateusz; Roszkowska, Sylwia - 2015

In this paper we aim to find out whether bank specialization and bank capitalization affect the relationship between bank loan growth and bank capital ratio, both in expansions and in contractions. We hypothesize that the impact of bank capital on lending is relatively strong in cooperative...

Persistent link: https://www.econbiz.de/10012030770