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Information Efficiency or Hold-up with Universal Banks? Some Evidence from Lending after Equity Underwriting

Pinto, Gerard; Zhang, Donghang - 2021

We find that spreads on loans originated by lenders affiliated to the IPO underwriters (informed lenders) are 12 basis points (bps) higher than loans originated by unaffiliated (uninformed) lenders. The price of these affiliated post-IPO loans is 59 bps higher than that of those unaffiliated...

Persistent link: https://www.econbiz.de/10013250276

The effects of bank market power in short-term and long-term firm credit availability and investment

Carbó Valverde, Santiago; Mansilla-Fernández, José Manuel - In: Spanish journal of finance and accounting 46 (2017) 173, pp. 1-27

Persistent link: https://www.econbiz.de/10011672404

The anatomy of acquirer returns

Dessaint, Olivier; Eckbo, B. Espen; Golubov, Andrey - 2019

the 1980s. Offsetting this increase, the average bidder-specific component has declined. We propose a theory of bidder …-specific synergies to help interpret these opposing trends. In our theory and in the data, acquirer returns increase with the extent to …

Persistent link: https://www.econbiz.de/10012104582

On the Effects of Banks' Equity Ownership on Credit Markets : An Antitrust Perspective on the Glass-Steagall Act

Amir, Rabah; Troege, Michael - 2007

non-financial firms. A stylised auction-theoretic model is developed to investigate the effects of bank equity stakes in … firms on the competition in bank loans. The main finding is that the largest stake confers a competitive advantage to the … holding bank and constitutes a barrier to entry in equity acquisition, resulting in high interest rates charged to firms. This …

Persistent link: https://www.econbiz.de/10014052417

The impact of credit substitution between banks on investment

Bripi, Francesco - 2023

Persistent link: https://www.econbiz.de/10014293851

Peer selection and valuation in mergers and acquisitions

Eaton, Gregory W.; Guo, Feng; Liu, Tingting; Officer, … - In: Journal of financial economics 146 (2022) 1, pp. 230-255

Persistent link: https://www.econbiz.de/10013482216

When prime brokers fail : the unheeded risk to hedge funds, banks, and the financial industry

Aikman, J. S. - 2010 - 1st ed.

An informative primer on the new landscape of leading prime brokers Before the recent financial crisis, both regulators and market participants disregarded the complex and dangerous nature of the relationship between prime brokers (the banks) and their clients (the funds). In When Prime Brokers...

Persistent link: https://www.econbiz.de/10013331703

ICE age geography : powertrain sourcing in Europe and North America

Klier, Thomas H.; Rubenstein, James M. - In: International journal of automotive technology and … 21 (2021) 4, pp. 322-342

Persistent link: https://www.econbiz.de/10012694402

A re-examination of multistage economies in hog farming

Parcel, Joshua D.; Schroeter, John R.; Azzam, Azzeddine M. - In: Journal of agricultural & food industrial organization 15 (2017) 2, pp. 1-15

Persistent link: https://www.econbiz.de/10011863316

Replicator dynamics in value chains : explaining some puzzles of market selection

Cantner, Uwe; Savin, Ivan; Vannuccini, Simone - 2016

The pure model of replicator dynamics though providing important insights in the evolution of markets has not found much of empirical support. This paper extends the model to the case of firms vertically integrated in value chains. We show that i) by taking value chains into account, the...

Persistent link: https://www.econbiz.de/10011428060