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Syndicated loan spreads and the composition of the syndicate

Lim, Jongha; Minton, Bernadette A.; Weisbach, Michael S. - 2012

During the past decade non-bank institutional investors are increasingly taking larger roles in the corporate lending than they historically have played. These non-bank institutional lenders typically have higher required rates of return than banks, but invest in the same loan facilities. In a...

Persistent link: https://www.econbiz.de/10009625909

Hidden gems and borrowers with dirty little secrets : investment in soft information, borrower self-selection and competition

Gropp, Reint; Gruendl, Christian; Güttler, André - 2013

This paper empirically examines the role of soft information in the competitive interaction between relationship and transaction banks. Soft information can be interpreted as a private signal about the quality of a firm that is observable to a relationship bank, but not to a transaction bank. We...

Persistent link: https://www.econbiz.de/10010225815

Maastricht criteria targeting and credit growth : empirical evidences for the new EU member states

Moinescu, Bogdan Gabriel - In: Romanian journal of fiscal policy : RJFP 3 (2012) 2, pp. 58-67

The study aims to investigate the impact of credit growth on the Maastricht criteria targeting process in the new … to maintain credit growth levels close to economic growth potential. …

Persistent link: https://www.econbiz.de/10010199902

Determinants of commercial banks' lending behavior : evidence from Turkey

Tomak, Serpil - In: Asian Journal of Empirical Research 3 (2013) 8, pp. 933-943

This paper studies the bank-level (size and access to funds) and market-based (interest rate, inflation rate, GDP) variables’ impact on bank lending behavior in Turkey using quarterly bank level data of 15 private commercial banks and 3 state-owned banks for the 2003-2012 period. The empirical...

Persistent link: https://www.econbiz.de/10009788619

Prestige and loan pricing

Muermann, Alexander; Rauter, Thomas - 2016 - This version: January 28, 2016

We find that prestigious companies pay lower spreads and upfront fees on their loans despite the fact that prestige does not predict default risk over the life of the loan. Using survey data on firm-level prestige, we show that a one standard deviation increase in prestige reduces loan spreads...

Persistent link: https://www.econbiz.de/10011543355

Psychometrics as a tool to improve screening and access to credit

Arráiz, Irani; Bruhn, Miriam; Stucchi, Rodolfo - 2015

screen out high credit risk and potentially increase access to credit for small business owners in Peru. We use … entrepreneurs who were offered a loan based on the traditional credit-scoring method versus the EFL tool. We find that the … entrepreneurs - i.e., those with a credit history. For unbanked entrepreneurs - i.e., those without a credit history - using the EFL …

Persistent link: https://www.econbiz.de/10011485359

Credit Surety Fund : a credit innovation for micro, small, and medium-sized enterprises in the Philippines

Maningo, Gary V. - 2016

of these enterprises is their difficulty in accessing finance from banks and other financial institutions. The Credit … is a credit guarantee program initiated by the Bangko Sentral ng Pilipinas that enables enterprises and cooperatives to …

Persistent link: https://www.econbiz.de/10011522092

Hold-up and the use of performance-sensitive debt

Adam, Tim R.; Streitz, Daniel - 2014

We examine whether performance-sensitive debt (PSD) is used to reduce hold-up problems in long-term lending relationships. We find that the use of PSD is more common in the presence of a long-term lending relationship and if the borrower has fewer financing alternatives available. In syndicated...

Persistent link: https://www.econbiz.de/10010403671

Bank loan announcements and borrower stock returns before and during the recent financial crisis

Li, Chunshuo; Ongena, Steven - 2014 - This Draft: March, 2014

jump back up to around 200 basis points. We surmise that in a booming credit market the certification of corporate …

Persistent link: https://www.econbiz.de/10010412303

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