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Corporate Misreporting and Bank Loan Contracting

Graham, John R. - 2008

This paper is the first to study the effect of financial restatement on bank loan contracting. Compared with loans initiated before restatement, loans initiated after restatement have significantly higher spreads, shorter maturities, higher likelihood of being secured, and more covenant...

Persistent link: https://www.econbiz.de/10012773124

What Determines the Structure of Corporate Debt Issues?

Julio, Brandon - 2008

Publicly-traded debt securities differ on a number of dimensions, including quality, maturity, seniority, security, and convertibility. Finance research has provided a number of theories as to why firms should issue debt with different features; yet, there is very little empirical work testing...

Persistent link: https://www.econbiz.de/10012773126

External Financing of Last Resort? Bank Lines of Credit as a Source of Long-Term Finance

Chang, Xin (Simba) - 2019

We find credit line drawdowns are an important source of long-term finance for capital expenditures and acquisitions … for all but the highest rated firms. Unrated and to a lesser extent intermediate-rated firms draw down credit lines most … frequently when capital market conditions are unfavorable. Firms repay long-term credit line drawdowns relatively quickly, with 2 …

Persistent link: https://www.econbiz.de/10012903940

Corporate Borrowings : Strengthening of the Role of a Bank Loan

Khromov, Michael - 2018

In 2018, bank lending to corporate customers is gradually gaining momentum mainly by means of rouble loans to non-financial institutions. Domestic bond market dynamics slowed down dramatically due to reduction of new borrowings by the Rosneft oil company. In 2018, the share of bond loans on the...

Persistent link: https://www.econbiz.de/10012907963

Human capital in the financial sector and corporate debt maturity

Liu, Guanchun; Liu, Yuanyuan; Zhang, Chengsi - In: China economic review : an international journal 69 (2021), pp. 1-21

Persistent link: https://www.econbiz.de/10012818458

The real effects of FinTech lending on SMEs : evidence from loan applications

Eça, Afonso; Ferreira, Miguel A.; Prado, Melissa Porras; … - 2022

We show that FinTech lending affects credit markets and real economic activity using a unique data set of a Peer … businesses who already have access to bank credit. Firms use FinTech to obtain long-term unsecured loans and reduce their …

Persistent link: https://www.econbiz.de/10012818733

Disclosures, Rollover Risk, and Debt Runs

Carre, Sylvain - 2020

How do opacity and disclosure policies impact the likelihood of debt runs and economicefficiency? I construct a dynamic model where debt yields are endogenous and mappedexplicitly to the degree of transparency, the regulatory disclosure regime and the stateof the economy. I find that: opacity is...

Persistent link: https://www.econbiz.de/10012855836

Performance-Sensitive Debt : From Asset-Based Loans to Startup Financing

Shadab, Houman B. - 2014

amount of available credit adjusting based on the value of collateral; and (3) renegotiation following breach of a loan …-based loans are important because they are the only type of loan that adjusts the amount of credit available to a borrower based …

Persistent link: https://www.econbiz.de/10013057139

SME's cost of debt : a meta-analysis of borrower, creditor and financial statement verification attributes

Loy, Thomas; Mohrmann, Stefan - In: Journal of entrepreneurial finance : JEF ; official … 24 (2022) 2, pp. 1-37

Private firm financing, given the far-reaching importance of non-publicly traded companies for global output and employment, is still a relatively underexplored area. Since the seminal work of Petersen and Rajan (1994), only a small branch of research into private firms' cost of debt has been...

Persistent link: https://www.econbiz.de/10012990197

Screening and monitoring corporate loans

Gryglewicz, Sebastian; Mayer, Simon; Morellec, Erwan - 2021

How much of a loan should a lender dynamically retain and how does retention affect loan performance? We address these questions in a dynamic agency model in which a lender originates loans that it can sell to investors. The lender reduces default risk through screening at origination and...

Persistent link: https://www.econbiz.de/10012800127